Hellooooo. Haha. I’ve been spending so much time on the forums, because once again, our country is on a lockdown because of the delta variant. But anyway, as I was scrolling, I just realized that there are like thousands of threads here. I guess babypips really is a big place for everyone. But I just wonder, is there anything that you think traders don’t talk about enough? Or I mean, it’s also possible that there isn’t such a thing. I was just curious. Haha.
I don’t think there’s any such thing!
Absolutely. Their failures. Logic dictates that if you are going to be successful in the long term, it is useless to talk about (or brag about) your successes. The only way to continuously improve is to spend as little time as possible dwelling on those wins - after all, that is what your strategy predicted isn’t it? And to spend as much time talking about your losses and trying to find the common errors that contributed to those losses. In time, and with proper journalling, those errors will reduce by so much that you will not fail to be successful
Unfortunately, human nature (and our education and life skills system) promotes that it is OK to fail, and even if you failed, you did your best. Sorry - that doesn’t put the meal on the table. This does not only apply to traders, it applies to leadership. Few are willing to navel gaze and understand their own strengths and weaknesses. It takes discourse with a large range of peeps with differing attitudes and beliefs to become really successful. This forum sometimes excels at that, but often does not.
What a convenient time. I keep a written journal of my trades. Today’s comments are these:
10/8. Asian BKK time…A.M. Two more selling ‘A’ trades, AUD/JPY & NZD/USD according to all the trends and signals on the planet. Which resulted in both countertrending from the entry point and continued throughout hours of slow losing positions until one hit my (generous) stop loss and the other I cut at close of play for a combined $17.37 loss.
Most frustrating. Defies logic.
I really couldn’t find any mistake, answer or, understanding the market sentiment.
I agree, Iook at my loses way more closely then the wins. I want to know if I messed up, bad entry, bad zone marked, how was my emotional state, did I over trade? All those things. And if all those things check off, then hey the market did what it wanted to do.
You should review your wins but only to make sure you were within your systems guidelines not on how much you can make. And that the trade wasn’t blind luck but had a meaning behind the entry.
And I never believed in participation trophies lol.
Sometimes the market just does the opposite of what you see. At times you can review and go “oh now I see what I missed” and then sometimes you just
I guess that traders often haven’t got enough time to talk to each other or to their closest people. Actually it depends on the trading style, because it differs from trader to trader. Of course there are investors who have plenty of time which they can dedicate to whatever they want, nevertheless, there are intraday traders who haven’t got much time actually, which they can spend on entertainment such as hanging outs and so on. Traders don’t talk enough other various things in their lives besides trading, because they always should be well informed about something that is hapenning in the world of trading.
You mean with each other, or on their own, like self reflection?
As a beginner, maybe talking about fear or doubt you have. How to get past that.
I wish successful traders would share more info about their failures with beginners. It could be helpful to hear about the trials they overcame or any issues they dealt with like wanting to give up and might motivate newer traders to stick with it. Instead, I think most of us focus on talking about the good things, like how much profit we’re making. I just think it could benefit so many to hear about hardships others faced and how they overcame them.
Also, I noticed you on the forums a lot lol. I’m a stay at home mom of 3 kids under 4 so I spend a lot of my free time on forums communicating as well.
As others have said losing trades and streaks .
If a trader has a 50% strike rate every 2nd trade is a losing one.
I suppose none of us want to talk about the losing ones lol
Traders don’t talk enough about trends.
New traders are afraid of trends, so they focus on shorter and shorter time-frame trades to avoid their impact.
That’s true. Maybe it’s because new traders are overly eager to get their hands on some profit so they focus on shorter timeframes?
I think Traders don’t talk about how much money they spent or lose in particular trade. Ain’t dictated anywhere Else
Shorter time-frame trades
New traders still lose on that
I’ve always heard traders saying that it’s very rewarding when you trade that opening bell but I’ve seen only a few who’ve actually earned profit by this. Traders underestimate the power of patience and waiting for a few minutes to let the market settle. Traders often forget that you are not the only one wanting to cash in early when the market comes roaring out of the gate. A lot can happen in those initial minutes, it’s better to wait.
I think traders don’t talk about the concept of personal responsibility, particularly in regards to emotions. They also do not discuss the losses they have taken and how they have been psychologically affected by those losses. It is crucial to remain objective when you are trading the market.
Ah yeah! Haha. I feel like Mondeoman has mentioned something like this. But it also makes me think if it’s something that would just make us all depressed. Haha.
Definitely! This is something I also had to learn the hard way. Haha. But thank you so much for this!
Oooh. Really? I feel like I’ve seen a lot of traders talk about emotions and how to manage them in order to be a profitable trader.
A tendency to focus more on the trade and the market instead of the trader.
Afterall, there are loads of different cars and roads with different specifications - but that is all irrelevant if the driver can’t drive…
What makes a good trader rather than just what makes a good trade.