I don’t know whether I’d label it sad, but I do think it’s unfortunate when traders don’t analyze their trading after a mistake was made. If one doesn’t do that then it’s difficult to grow as a trader.
Read news. Analise my results. Observe market.
A post-trading analysis is helpful for improving as a trader. But you must not be looking at just the pips made or lost; the main focus should be on learning the why and how.
Trade safe and prosper.
[quote=“Navs24, post:518, topic:79836, full:true”]
… Analyse my results…[/quote]
I agree, the why and the how are the most important questions one can ask when a trade goes wrong. Also, was it a part of a ready strategy or the result of an impulsive trade.
Knowing what you could improve upon or what you should stop doing is key.
Trade safe and prosper.
I agree. Many people, myself included, have an innate urge to keep tinkering, keep improving a strategy, but knowing when to stop is just as important.
I learned, yet again, what a poor idea it is stay up all night to trade. I hope this time that realization will finally stick.
Hi, mate! I’m happy that you are keeping tabs on areas to improve upon. Actually it’s not the staying late in the night but perhaps the lack of specific set-ups you are looking for. I look for good set-ups at the close of day on the pairs on my watch list and would wait for them or wake up to check them. If I see what I’m looking for, I’ll put in a trade in the direction I planned.
Trade safe and prosper.
I literally meant staying up very late in this occasion. I got sleepy, my mind wasn’t clear enough, made mistakes, and then the next day I was too groggy to correct them.
Now understood. Do you day trade?
Trade safe and prosper.
For the most part, yes. When I don’t it’s usually a lapse of judgement on my part. What about you?
I’m a short-term swing trader. I trade about 1-3 times a week and not more than five trades, including scaling in/stacking trades. And I hold my trades for 1-2 weeks on average depending on the target or market conditions.
Trade safe and prosper.
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It’s good that you have the patience to keep positions open for that long. I prefer to close mine within the same day.
Not quite the patience; I think it’s a lifestyle thing.
Trade safe and prosper.
In the end of the day if that works for you it’s all that matters.
Trading results are the outcome of your approach and strategy of trading. You can change the result by working hard on these two key factors. By the way, it is really difficult to achieve this level but if you are serious trader then hou can achieve. Thank you!
Very god contribution. Could you tell us what you learned recently that could help you improve as a Forex trader?
Trade safe and prosper.
quote=“Tileso, post:533, topic:79836, full:true”]
Trading results are the outcome of your approach and strategy of trading. You can change the result by working hard on these two key factors. By the way, it is really difficult to achieve this level but if you are serious trader then hou can achieve. Thank you!
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One should always strive to learn new things, but some days pass without learning anything new, just resting on what you already know and using it to make a profit.
Just Sharing
You will enhance your consistency as a successful trader by using a top-down, multi-time frame analysis of the market and patiently trading a well-thought out trade plan.
I agree. My trading has improved considerably since I formed such a plan and actually started following it.