If you learn something from getting breakeven, that is definitely a triumph...a non-monetary win which might be valuable in the future...
If you learn something from getting breakeven, that is definitely a triumph...a non-monetary win which might be valuable in the future...
I agree, because this is a forecast game, making money is always luck, losing money is an art which we all can control.
But I also am learning that staying out rather than jumping in onto overlooked upportunities is a thriving move in of itself. I missed two transactions yesterday that went profitable now. Man, it's hard to not just jump in and get all of pips you can get, but you have to control your self.
I'm realizing that there's a difference between a pip chaser and a pip manufacturer. Pip chasers go after each and every pip they could get. They get nervous whenver transactions go against them, and they close out trades early so they can save their precious little profits. But pip manufacturers know to trust their systems and be disciplined when trading. They focus on controllling losses more then they're on optimizing profits. And breakeven is considered a winning trade for them.
I try to remind myself that no matter how good systems are, they could not ch every move to the last pips. Rather, I need to be fulfilled getting profits in the first place. And as always, keep the losses short and Little
There should not be any luck involved with trading. If you are entering a position, hoping you'll get lucky and make some money, then you are doing something incorrect. I enter places hoping to win. Most of the time, I really do. If I feel that a position would not be good, then I do not enter, period. If it comes to my money, I don't wish to rely on luck.Originally Posted by ;
There is fortune in trading. Nobody in this face of earth can predict where the price will go. How many times have price went contrary to fundamental analysis? How often have prices went contrary to familiar patterns and indior readings!?!? So in essence, making profits is fortune. Sure you rely on your indiors and trendline and what not, but who to state that price has to obey 'your own' principles?Originally Posted by ;
However on the other hand, you're in control of one thing and one thing just
and that's EXITS. You're able to exit your trade when you want, either in profit or in a reduction. Exit rules which produce profits and minimize your losses is exactly what separate the winners and losers.
I believe you missed one key element of what I submitted. You have control of whether you enter a situation or not. Don't start a situation and hope luck is on your side.Originally Posted by ;
Originally Posted by ;
Can the casino owners in vegas rely on fortune? No, they rely on chance. Trading is no different; you merely must be on the ideal side of the probability. If you believe it's luck, you will have more fun losing your money in the dog track.Originally Posted by ;
No, I think you missed what I am trying to say. If you use the word 'expect' it makes it sound that you're 'trusting' . To me, the two words are pretty much mean the same thing. And most of us know how dangerous expect can be in gambling.Originally Posted by ;
Yes, there are techniques to gauge the probability of whether price is likely to make a specific move, but my point is that, we need to concentrate on what you can 'control', which is risk more than that which you can not which is 'expectations' of potential profits. I really don't open positions and expect that lady luck will move price my way. Once I open it, I am more focused on when I can minimize my risk based on the next final price.
I've just been reading up on indie douglas and van tharp. I've got a totally postive outlook on trading.
If you know That the trend and You Also have a profit Goal you shouldnt worry.price will retrace and price will fluctuate .if you End up Stressing then concentrate on the daily chart and other higher time frames
Hi Ilmy in the conclusion of all these threds it will be very intresting to describe your self in 10 words!? Who was the most powerful components wich have send you in such stage/
lol, so weird you brought up old thread of mine. My earlier articles were as noob as it can get.Originally Posted by ;
But, I do not know if I can put my expertise in 10 words, but I can definitely credit forexintuitive to helping a lot in getting to where I am, and to where I would like to become
there is so mcuh advice here. I used ton't have a mentor coming into this game, so this forum provided all that I need to learn about how to trade.