I keep telling myself this but still can’t deal with losses properly when they happen. It’s truly so much easier said than done.
The trading challenge is how to win big and lose far less on a consistent and sustainable basis.
Trade safe and prosper.
I gradually realized a while ago that until I learned to wait for the best possible moment to trade I would not be successful. It did take some time for that lesson to stick, but eventually it did and I can wholeheartedly say that my trading is better for it.
Yeah…it is so hard to master the ME part of the game…
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yes waiting for the right condition and the A trade…very important, very hard to do.
I think it gets easier over time, once one does learn how to be patient. After all, being patient ensures bigger profits.
Something I have learned regarding when to trade - always do so when there is an open major trading session, London, New York or Tokyo, depending on when you are comfortable trading. Don’t do so when no one is on the market, that tends to lead to losses.
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Point taken. However, whenever the market opens there is always somebody in the market. Don’t trade when there is limited volatility is the emphasis, I think.
Trade safe and prosper.
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That was my point too, I was simply being hyperbolic for emphasis.
One of the things that have brought me much confidence and relative success in the Forex trading business is changing from scalping to swing trading some years ago after realizing that scalping does not suit my personality. The top-down, weekly analysis I started about five years ago brought greater stability. One aspect that I am developing for consistent and sustainable trading success is structure-based trading. Below is a video you may find helpful on understanding market structure.
Please note that I have no financial interest in the presenter.
Trade safe and prosper.
What I would I do differently today specifically is not trade before the news coming out of Canada come out later.
Avoiding trading near the release of a high-impact news is a right thing to do.
Trade safe and prosper.
I learned from one ebook I bought recently and that did enhance my trading this week. All I did is just do the math.
Thank you. Could you tell us what exactly you learned from that eBook?
Trade safe and prosper.
thing i would do differently today for better trading result is giving my strategies a bit more time. i get impulsive and sell out. but i am working on that constantly.
Ok. This ebook did not explain exactly. This ebook shows lot of clear visual examples step by step when trading forex. And, to summarize, the key is to find two prices, one price to buy and one price to sell at the beginning of the trading day, draw out fibonacci to find profit target levels and lastly do the math on probabilities.
I could tell that the purpose of this setup is to trap the market.
I agree. Do you do that or do you trade news, sometimes at least?
If any system or technique helps you trap the market on a consistent basis, stick with it.
Trade safe and prosper.
I love your candour mate. We all need to learn patience.
Trade safe.
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Yes, sir! Will do! 