fisher007 Posted April 4, 2012 Report Share Posted April 4, 2012 Was there a turning point of your trade? What was it? joe_sixpack 1 Quote Link to comment Share on other sites More sharing options...
eggzactly Posted April 4, 2012 Report Share Posted April 4, 2012 Dear fisher007, Was good have that answer to help you and other traders, but unfortunately is not that simple. Trading is one if not the most difficult business in the world. The key is money management, as i stated on this forum a million times. There is no click, or vision that tell´s you - now i´m a profitable trader. My journey was full of hard work, losses, gains, inconsistent results, sometimes scammed by buying trading systems that not work at all, etc.. What i can advise you is, if you can´t do it search for professional advise. Best Regards, mark1504 1 Quote Link to comment Share on other sites More sharing options...
Kristianto Posted April 5, 2012 Report Share Posted April 5, 2012 this is a hard question. there is no direct answer to that and different strategies work with different people due to trading discipline and emotions. Quote Link to comment Share on other sites More sharing options...
brownie Posted April 17, 2012 Report Share Posted April 17, 2012 It's really an interesting question. actually I think one day i realized I should lower my expectation on profit. a reasonable profit expectation will help you ease your pain and control your desire to earn more and avoid the high risks. Quote Link to comment Share on other sites More sharing options...
joe_sixpack Posted April 20, 2012 Report Share Posted April 20, 2012 It's really an interesting question. actually I think one day i realized I should lower my expectation on profit. a reasonable profit expectation will help you ease your pain and control your desire to earn more and avoid the high risks. Make some sense, but being aggressive works pretty well for me. The key is not money management or anything that specific, although this is not to say that any of these more specific things can be ignored. They key is excellence. Once you are really good and you know this, trading will be effortless. If you are not, you will know this too and this will be a big drag on your performance. Quote Link to comment Share on other sites More sharing options...
joe_sixpack Posted April 20, 2012 Report Share Posted April 20, 2012 Good thread, thanks for starting it. Quote Link to comment Share on other sites More sharing options...
alex_m Posted April 20, 2012 Report Share Posted April 20, 2012 read up on datamining/machine learning/artificial intelligence. Any in particular that you would recommend ? Quote Link to comment Share on other sites More sharing options...
leon1 Posted April 20, 2012 Report Share Posted April 20, 2012 Any in particular that you would recommend ? I would say read everything that you can get your hands on, also about the topics in general, not just on how to use them in finance. You want to become good at what you do, not just mediocre. Start learning by experimenting with Neuroshell and then move on to harder and better things from there. Neuroshell is really easy to use, so there is something very wrong with you if you cannot figure out how to use it. Intermarket Trading Strategies by Katsanos has a chapter on how to do a system in Neuroshell. Also, it takes a lot of practice to become good. I spend many hours every week throwing random stuff at nn to see what works and what doesn't. Quote Link to comment Share on other sites More sharing options...
FxNewbie Posted April 20, 2012 Report Share Posted April 20, 2012 I am a great believer in lower leverage. When I had my account with 1:100 leverage the gains were better but the losses were painful. Somehow reducing the leverage to 1:50 left me far more relaxed as trades going against me were not so punishing in dollar-terms and I could hang in there longer (as long as I believe the trade will return to the direction I had envisioned). This transformed my trading. I only have one (sometimes a 2nd negative or positive highly-correlated pair) trade open at any time. For example, if I am long EURUSD this will be my only trade but if it looks to be going well, I will often short USDCHF aswell. Similarly If I am long EURJPY, I often go long USDJPY aswell. Never more than 2 open trades You can check correlation here hxxp://www.forexticket.co.uk/en/tools/01-01-correlation - look for consistency across H1, D1 and preferably W1 too. I hope this helps add value to this thread (which is a great idea to have running) Quote Link to comment Share on other sites More sharing options...
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