Trading better today, and every day, is key to consistent trading success. As past performance is not indicative of future results, what would you do differently today for trading success? What did you learn last week that you would apply this week for better trading results? Which one thing would you focus on today to be a better trader? I am starting this thread to focus on the central purpose of Babypips forum: To learn and to share. Over 95% of Babypips forum members joined it primarily because of that purpose.
Let me start with one of the things I learnt recently. I learnt a few months ago to master a few pairs and trade less of them.
What about you, what did you learn recently, last week or even yesterday that could enhance your trading this week? Share it with other forum members here. Trade safe.
This thread is to help us focus on learning to trade better. Have you pondered the traditional principle of cashing in your profit? The idea that as soon as you make some profits, say, double your trading account, that you should withdraw, say, half of it? How has this affected how you trade? Is there anything else you learnt recently that could affect how you trade for better results? Share your ideas here. Trade safe.
What I learned recently - and it’s a lesson that I keep repeating to myself, so I wouldn’t forget - is that I need to be absolutely disciplined when I trade. I should follow my strategy and not open positions impulsively.
Agreed. Believe you me, in my books, beyond an efficient and functional trading system, the key to consistent trading success is self discipline. Trade well.
Any lesson learnt today? If you want to share this with members in the belief that it could foster better trading share it here. For me, a key lesson I learnt today is to focus on the big picture. Look at the mixed US data today. In spite of two negative data, the overall outlook is positive for the US economy. Being positive in outlook towards your trading career will make your journey to success less burdensome. Trade safe
Does doing a weekly scan and analysis of the pairs on your watch list in preparation for the week ahead make you a better trader? If so, share it here with fellow traders. Is there any specific thing you look for in such an analysis? If you want to share anything you learn recently that help you trade better, let us know.
Doing a weekly market analysis has helped my trading become better. My analysis includes a scan of the pairs on my watch list to see which would qualify for potential profitable trading during the week. This leads to choosing about 3-4 among the 8-9 pairs I currently have on my watch list. These selected pairs are then put to further thorough analysis to plan on the strategies to be adopted in trading them, among other things. What about you, did you learn anything recently that could help you trade better and be more successful? Share it here. Trade safe.
Another thing I learned today is that I really should have more confidence in my own analysis. Sometimes I seem to be lacking it and it only causes me trouble.
I like your candor. Mastering one’s system and approach to trading is fundamental to confident trading. Often, we get conflicting info from the community of traders - many of whom trade differently from us, e.g. different time frames, different trading styles etc - but trading based on your chart and your analysis, particularly using a top-down approach will facilitate confident trading. Trade safe.
How important is patience and self-discipline to trading success? Have you learnt anything recently about patience or self-discipline that you found could enhance your success as a trader? Is there anything you learnt this week that could help you trade better next week?
Do you have a profitable trading edge over the market? Can you describe it in one sentence? How has your trading approach changed since building a trading edge? In general, what have you learned recently that is helping you to trade better?
Talking about a profitable trading edge over the market, this is mine in a layman’s language: Mastery of patiently waiting for the market to meet my trading conditions and be trapped. What about you? What is your profitable trading edge over the market?
How important is pre-week planning and preparation to trading success? Did you learn anything recently in that regard that could help you trade differently? Share it here with fellow forum members.
When scanning through charts, look for good price action setups. Dont look from a money making perspective.
Discipline. If you miss your trade let it go and wait for the next opportunity.
Dont hesitate and miss a great opportunity because of fear.