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5 Things I have learned in 5 years of trading!
Aug 08, 2022 at 10:44
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Aug 21, 2022 at 16:52
Even though long-term trading brings the perfection in trading, I prefer scalping the most. For scalping nicely, you need to have a scalping-friendly broker. Scalping enables a trader to derive profit from the market quickly by entering and exiting trade within a very short time.
forex_trader_2983986
Mitglied seit Aug 04, 2022
34 Posts
Aug 21, 2022 at 17:24
SteveFx11 posted:
Even though long-term trading brings the perfection in trading, I prefer scalping the most. For scalping nicely, you need to have a scalping-friendly broker. Scalping enables a trader to derive profit from the market quickly by entering and exiting trade within a very short time.
I combine Trends and Scalping to give me much profits.
Aug 22, 2022 at 07:38
One of my biggest lessons are:
1) Learning to calculate what I'm actually risking before I take a trade, it has saved me in the long run.
2) I use stop orders below a previous bullish candle when I want to sell at a zone and vice versa which means I don't get activated if the zone don't hold and because it's a pending order, I calculate my risk before the move.
3) Risk to reward is super important, I usually set 1:3 and manage the trade till it hits or not hit my TP.
1) Learning to calculate what I'm actually risking before I take a trade, it has saved me in the long run.
2) I use stop orders below a previous bullish candle when I want to sell at a zone and vice versa which means I don't get activated if the zone don't hold and because it's a pending order, I calculate my risk before the move.
3) Risk to reward is super important, I usually set 1:3 and manage the trade till it hits or not hit my TP.
Profit
Mitglied seit Apr 09, 2019
516 Posts
Aug 22, 2022 at 12:54
Your first point is so important. Focus on managing risk and the profits will take care of themselves if your system is solid and well tested.
If you can't spot the liquidity then you are the liquidity.
Mitglied seit Jul 20, 2020
385 Posts
Aug 22, 2022 at 14:10
sebking1986 posted:
Your first point is so important. Focus on managing risk and the profits will take care of themselves if your system is solid and well tested.
It really is its the bedrock of all successful trading. Once the edge is there we can then progress knowing the risk of bust or ruin isn't a factor
Mitglied seit Aug 05, 2021
394 Posts
Aug 26, 2022 at 13:28
Washboard posted:
It’s not just what you aim at but also about what you are doing to achieve your aim. Everyone wants to make money but not everyone does the required hard work to win in the long term. You have to write your own destiny.
Love this point of view. I think so many people are too quick to give up when something seems hard. We're all capable of becoming rich or changing our situation, but it often takes a lot of thought and action to get there.
Mitglied seit Jul 20, 2020
385 Posts
Aug 28, 2022 at 09:58
HeavLeighGill26 posted:Washboard posted:
It’s not just what you aim at but also about what you are doing to achieve your aim. Everyone wants to make money but not everyone does the required hard work to win in the long term. You have to write your own destiny.
Love this point of view. I think so many people are too quick to give up when something seems hard. We're all capable of becoming rich or changing our situation, but it often takes a lot of thought and action to get there.
Agree, i think a purpose is key if the the target and reasoning isnt driving you it is so easy to become aimless and now have the drive and motivation to go that extra yard that's needed for sure
Mitglied seit Aug 08, 2022
20 Posts
Sep 01, 2022 at 10:05
Here are my five lessons!
1. The markets are always changing
2. You need to keep learning
3. A good trading plan is essential
4. You need to be disciplined
5. You need to manage your risk
1. The markets are always changing
2. You need to keep learning
3. A good trading plan is essential
4. You need to be disciplined
5. You need to manage your risk
Mitglied seit Apr 09, 2019
516 Posts
Sep 05, 2022 at 10:34
I think that a yearning to develop must be present in most professions but it is especially important in trading. You get left behind very quickly otherwise.
If you can't spot the liquidity then you are the liquidity.
Mitglied seit Jul 20, 2020
385 Posts
Sep 05, 2022 at 17:11
sebking1986 posted:
I think that a yearning to develop must be present in most professions but it is especially important in trading. You get left behind very quickly otherwise.
I completely agree its one profession where self awareness and progression a must. Its where consistent analysis is needed to make sure success continues as the years go on
Mitglied seit Apr 09, 2019
516 Posts
Sep 07, 2022 at 14:33
So glad you said keep your emotions under control rather than be emotionless. One is achievable and one is sociopathic.
If you can't spot the liquidity then you are the liquidity.
Mitglied seit Jul 20, 2020
385 Posts
Sep 12, 2022 at 16:29
sebking1986 posted:
So glad you said keep your emotions under control rather than be emotionless. One is achievable and one is sociopathic.
That is the key. It is controlling and riding the emotions like a wave that will make a successful trader its so key to accept and embrace being human rather than fighting against it
Mitglied seit Jul 23, 2020
816 Posts
Sep 19, 2022 at 14:26
Maintain trading ethics to produce better result but traders lack this practice. There are different standards of trading but those traders are successful whose strategies are flourished enough.
