What works?

Everything works and nothing works at the same time. All of indicators and oscillators have the right to exist but they give the wrong information or we tend to interpret the information in the wrong way when they work solely. The best way to use indicators in trading is to use the combinations of them, so that signals of one indicator will be proven by the signals of some other indicators.

@Mirakelv I agree with you. Most of the time we interpret the market wrongly. Due to fear of missing a trade, many times we jump into the market too early or too late.

LukeRachel posted:

gwendolyncole posted:
@LukeRachel I completely agree with you that discipline is one of the most vital aspects of trading. Undisciplined trading would make it very difficult to manage risk and result in a loss most of the time. Also to keep in mind that disciplined trading would always result in a profit but it reduces the chances of loss.

To understand the market conditions, traders need to understand the sentiments and discipline that should be managed to make a profit properly.

Yes, of course, I like to do sentimental analysis. Therefore, trading has to be done depending on the market condition.

Thats true, every trader actually comes with a different mind set which can be seen on the performance. copying each other is not a good idea and healthy practise.

Any trading system doesn't work. Actually a little bit different words could be more correct: it works with a 50% probability. And only an experienced and consistent trader can increase the chances of profit by controlling risk.

Oh yeah everyone is unique. But most of all traders do the same mistakes each time. Maybe that's why most of all profitable period may end.
Or I can be wrong. And many people have a lot of profit because of forex. Who knows...

Knowledge, skills and discipline matter very much. I know that it is too wide, bu specifics are not objectively effective. Some traders feel that the combination of certain indicators, but they are not common for everyone. People are different and they have different personalities, that is why there are so many trading strategies which are effective for one people and can be absolutely useless for others.

Mnern posted:
Knowledge, skills and discipline matter very much. I know that it is too wide, bu specifics are not objectively effective. Some traders feel that the combination of certain indicators, but they are not common for everyone. People are different and they have different personalities, that is why there are so many trading strategies which are effective for one people and can be absolutely useless for others.

I agree, i think you have to do your own due diligence and come up with a strategy that suits you. It takes so much tweaking and even the smallest one can make a huge difference. I think the biggest is perserverance. You need to believe in yourself and believe that you will find success and not deviate from this

Having the ability to come up with the strategy is one of the best way to start it off, I would say. So best to start preparing the right strategy and see if it can work for you in your trading.

UweMoench posted:
I think it is relative that what works and what doesn't. What works for one may not work for others. Every trader is unique in psychologically. That's why all successful traders have their own trading style and strategy. It's the common traders who try to exact copy of others style and strategy.

Yes, every one is different. Trading style depends on individual's personality. A trader may be very comfortable with H4 chart trading. His signal may not work for someone who loves to get things done in a hurry. He may be a trader of 15M chart. This is what we have to realize. That is why it is best to trade on own analysis and strategy.

The only thing that works on the forex markets is common sense which is free from emotions. I am not going to touch upon trading strategies and perceptions of the markets because different people have different opinions on forex. However, the only thing which unites all of the successful traders is common sense which is not influenced by psychological distress.

@Cenaya well said , It's all about how a trader evaluates the market conditions and plays his bets.

@marindateal Yes that's why we can't make profit just by following others strategy. It's because everyone thinks and perceives the market differently.

Psychology needs to be managed. This issue of the trader will play a very important role. How I work depends on the psychiatrist. Discipline should be maintained.

Every trader is unique and so is their journey in the forex market. A trader might have their own different style of doing things but still there are few things which are common and work for all no matter how you do it.
It involves practicing, capital preservation, following a trading plan, maintaining a trading journal, keeping a positive mindset, being disciplined, using risk and money management techniques.