Very good. I’m happy for you.
Trade safe and prosper.
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Thank you for the kind words.
A lesson I learned today - if I am irked or distracted or both it’s better not to trade at all than to keep open positions that I cannot focus on.
Agreed, our emotional state tends to affect our performance.
Trade safe and prosper.
Have you ever had an occasion when you made a major mistake because emotions clouded your judgement?
Every day brings a new opportunity as trading requires to utilize every second properly. You just need to learn from your previous day and implement the learning on the next day. The proper paper work for your each day trading is necessary in order to interpret the positive outcome from it.
My mantra to get better results is:
Trading If you are in doubt, stay on the sidelines. If there is no clarity of price action and your charts look ambivalent or confusing, avoid entering the market
I agree with your mantra. Sometimes the market is so undecided that trading in either direction is just taking unnecessary risk.
As each day is full of potential I try to learn from my previous mistakes and always try not to repeat the mistakes. And to judge my performance I try to maintain systematic approaches, like maintain trading journals, listing winning and loss projects, etc. I am continuing my learning with the help of Babypips and other forex forums as there is no end of learning.
Completely agree with you, Forex is the place where you can never be 100% sure about your trading decisions. With the passage of time traders get experience and their winning probability increases but it never means that they will always be profitable. Remember, experienced traders also bear losses.
Writing down what went wrong is a great way to learn, I began to notice an improvement in my trading once I began doing that.
Good contribution! Trade safe and prosper.
Just sharing
Know and understand what you want from the Forex market. But enter and operate in it only after you have learned how and when to successfully get what you want from it. Otherwise stay out until you have learned how to successfully operate in the market.
That’s a great advice and I completely agree with it. Know when to get in the market, but also know when to get out. Never trade on a whim.
Just Sharing
The uninformed is best advised to stop searching for the ‘holy grail’ of Forex trading. There is no power in any indicator; what matters is how you trade it.
In my opinion is simply hard work. There are certainly very effective strategies, but one should still take the time to study them well and make the effort to use them properly.
Here’s a video on a simple price action strategy you may benefit from. Please note that I have no commercial interest in the presenter.
Trade safe and prosper
Has there been anything you learnt recently for a more successful trading? I basically trade price action but I use 2-3 MAs to visualize and read price structure and order flow. One of the things I have been doing recently is to enhance the efficiency of my trading system.
Trade safe and prosper.
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Here’s a video on how to improve your win rate. Note: I have no financial interest in the presenter.
Trade safe and prosper.
In the main, the markets have been quiet for a few days this week. By my system, there is nothing particularly to trade, e.g. re-risk-to-reward ratio. In such a situation, I usually choose to step aside and manage my open trades.
Trade safe and prosper.
Just Sharing
Never forget why you are in the market. Always remember that you are not in the market just to trade; you are in the market to make money. If you have a strong urge to trade, think twice. Are the market conditions right for your trading system or strategy to make you money? If not, step aside.