Share your trading knowledge and experience here

[admis]

I would like to move this valuable forum on higher level.

Here are a few guys making patched version of commercial products. Another group of users are uploading their resources. But very few of users are sharing their trading knowledge and experience.

 

It seems to me not quite fair. As I suppose it should be very usefull for everybody here.

What do you think on that?

Edited November 24, 2013 by admis

[mastertrader7]

I think this is not the section in the forum to talk about it.

[LisaAkira]

I agree admis!! We have a lot of trading/market knowledge here, lets start sharing what is "working" for you. Better put, what are your setups, and what do you see/use to increase the odds for success before pulling the trigger. Most importantly, what is your method of preserving capital on each setup?

 

I believe in being "slow" to exit a profitable trade, and being "quick" to exit a loosing one!!

 

Kie

[admis]

I think this is not the section in the forum to talk about it.

 

Which one will be better? Subsection NinjaTrader is one of most popular part of this forum. Apart of other parts of forum is not concentrated on MT4 and forex.

Anyway thank you for your voice.

[mauro33]

...................... Edited May 15, 2014 by mauro33

[k33]

I had very hard times when trying to go fulltime too early. In many ways a painful experience.

 

So far i like tape reading, volume clusters and delta analysis but still have to become consistently profitable..

 

Thank you for your contributions.

[iksak]

I think that's a great idea!

[user33]

Imagine trying to self-taught to become a brain surgeon without a teacher/mentor, who is a REAL brain surgeon, to show you in real-life situations how to perform the brain surgery?

 

Do you believe you can teach yourself and become a brain surgeon who can open your patient's brains without killing them in most cases? may be you would get lucky not killing one or two patients, but can you make a business by killing most of your patients and only on occasions you don't kill them?

 

and what if the books you study to become a brain surgeon are not written by real brain surgeons, but by liars who claimed they know how to do brain surgery but had never done one in their lives? what are your odds to master brain surgery by reading books, taking classes, from people who are not real brain surgeons?

 

Do you think trading is any different? do you think you can master trading without having a teacher/mentor who is a consistently profitable trader, not matter how many books, courses, programs you got/bought from forums like this one or from "legitimate" sources?

 

I think deep inside, everyone of us know the answer, but we are humans, we have flaws: we believe in "Luck", we believe that we are so special that these laws of nature don't apply to our own case, we believe we are exceptions, we humans also like to gamble, whether we know it or not, most of us entered into trading in the manner of :gambling", not in the manner of entering into an objective business adventure, like entering into "brain surgery" business, or any other form of challenging, high-risk, high-potential-reward business, and expect to succeed in such business, 99% of "retail traders" failed!

 

On the contrary, much smaller percentage of non-retail traders failed, the main differences are:

 

1. They have mentors/teachers who are professional traders to train them

 

2. They conduct their trading/learning in a discipline (professional) environment, which made it so much more difficult for them to approach the learning and trading in a undisciplined manner.

 

 

This is my own honest realization from the same mistakes I made in my journey to become a professional trader, I really hope that for those who are considering entering the trading business to think about everything I said above deeply in heart, before you make your decision, not doing so will cost you a lot of money, a lot of time in your life, and a lot of emotional damage that cannot be ever fully recovered.

[leo1177]

user33, you are right! perfectly written...

[leo1177]

I would like to move this valuable forum on higher level.

Here are a few of us making patched version of commercial products. Belive me it is risky task. Another group of users are uploading their resources. But very few of users are sharing their trading knowledge and experience.

 

It seems to me not quite fair. As I suppose it should be very usefull for everybody here.

What do you think on that?

 

you must be the first who start to describe your trading system :)

[Guest gavetso]

For some reason i find the problme to compare Trading with other activities is for some reason when we work with money we cant focus in the real situation if we fail in our rules or not agreee with some method we LOSS dramaticly money.

 

whne we drive a car we know if we not press in the time the break we will die or crash or somethoing wrong but normally in dicretionally trading we ignore the bawsic rule

the resul is No confidence NO earnings LOSESSS and problems

 

for thneses reasom im with all intention to begin a srius board to share ideas but co5rectly and teach and learn for others

[tulasi]

imagine trying to self-taught to become a brain surgeon without a teacher/mentor, who is a real brain surgeon, to show you in real-life situations how to perform the brain surgery?

 

Do you believe you can teach yourself and become a brain surgeon who can open your patient's brains without killing them in most cases? May be you would get lucky not killing one or two patients, but can you make a business by killing most of your patients and only on occasions you don't kill them?

 

And what if the books you study to become a brain surgeon are not written by real brain surgeons, but by liars who claimed they know how to do brain surgery but had never done one in their lives? What are your odds to master brain surgery by reading books, taking classes, from people who are not real brain surgeons?

 

Do you think trading is any different? Do you think you can master trading without having a teacher/mentor who is a consistently profitable trader, not matter how many books, courses, programs you got/bought from forums like this one or from "legitimate" sources?

 

I think deep inside, everyone of us know the answer, but we are humans, we have flaws: We believe in "luck", we believe that we are so special that these laws of nature don't apply to our own case, we believe we are exceptions, we humans also like to gamble, whether we know it or not, most of us entered into trading in the manner of :gambling", not in the manner of entering into an objective business adventure, like entering into "brain surgery" business, or any other form of challenging, high-risk, high-potential-reward business, and expect to succeed in such business, 99% of "retail traders" failed!

 

On the contrary, much smaller percentage of non-retail traders failed, the main differences are:

 

1. They have mentors/teachers who are professional traders to train them

 

2. They conduct their trading/learning in a discipline (professional) environment, which made it so much more difficult for them to approach the learning and trading in a undisciplined manner.

 

 

This is my own honest realization from the same mistakes i made in my journey to become a professional trader, i really hope that for those who are considering entering the trading business to think about everything i said above deeply in heart, before you make your decision, not doing so will cost you a lot of money, a lot of time in your life, and a lot of emotional damage that cannot be ever fully recovered.

the question is where can we(retailers) find the successful trader/teacher.

[user33]

For some reason i find the problme to compare Trading with other activities is for some reason when we work with money we cant focus in the real situation if we fail in our rules or not agreee with some method we LOSS dramaticly money.

 

whne we drive a car we know if we not press in the time the break we will die or crash or somethoing wrong but normally in dicretionally trading we ignore the bawsic rule

the resul is No confidence NO earnings LOSESSS and problems

 

for thneses reasom im with all intention to begin a srius board to share ideas but co5rectly and teach and learn for others

 

Everyone thinks the secret to trading success is some "winning trading systems or methodologies", that is the beginning of all their problems in trading! because that is simply not true, that is the 1st thing traders must understand.

 

it is like thinking: if I have the best, fastest sports car (or professional racing car), I will be able to compete with professional race car drivers and win the car race. The didn't understand that it is the cognitive skills of driving the car (like when you need to break, you break without thinking, when you need to turn, you turn in the exact right time and the right amount of turn, etc. trading is no different, if I give you a winning system, it is like give you a fastest car, you still need to learn to drive the car if you want to win the race), and the self-control (discipline, emotional control, risk control, etc.), mindset, work habits, deliberate practice, continuous improving, a right teacher/coach/trainer who is a good race car driver who knows how to race and win the race, etc.etc,

 

so having a fastest car won't make a bad driver become a winner in car race, having a best trading system won't make a "bad trader" a winning trader, our job is to decide: do I want to become a good trader? (not I am going to find the best trading system), and what am I going to do to make that happen? (again, the answer is not I am going to find a best system, that's a "car", you are the driver, what are you going to do to become a good driver? even if you have the worst car in the world)

 

Think about what I am saying, I am trying help people to get the "ah-ha" moment and start the right action, otherwise, they will be no different than the 99% of people who got into trading (the 99% are losers, that's right!)

[admis]

you must be the first who start to describe your trading system :)

 

As I wrote I am trying to be helpful. I thought it is sufficient contribution at least on the beginning. I suppose my preface is clear.

 

How many talented educators has taken away from here? Do you remember only two of them: Zeraw and john.maddog.doe. Think about it. It is of course not up to you remark. ;)

And thanks for your voice here. :)

 

Cheers,

Edited November 24, 2013 by admis

[admis]

I do not believe that anyone here was traded for at least a few years without burning your account. Including me.

IMHO: Trading is kind of art mixed with psychology but for sure not a science with clean formula.

 

Retail traders are on the beginning on worse position than "banks/funds/props" because of equity, infrastructure, commissions, access to the top technology. Maybe there is the main reason so many losers. Retail traders cannot use arbitrage techniques including HFT, spreads (eq. in NT), widely used by professionals.

 

There is nothing like one perfect methodology for everyone because of style of trading, mindset and mental toughness and of course available equity.

 

What remains for us in discretionary trading which is practically the only one available for ordinary people?

 

I agree at all with user33 - the mentor is the key! gavetso pointed it out too. But what tulasi wrote: the question is where can we(retailers) find the successful trader/teacher.

 

I believe everyone here would be happy to take the trading classes with user33. ;) ^:)^

 

I am greatly appreciate for everyone sharing his experience in trading here.

Edited November 22, 2013 by admis

[Wanderer]

*admis

 

I have read what I think is an accurate description of trading the markets. It is "The mathematics of mass psychology".

 

Regards, W

[Guest gavetso]

the mix to UPGRADE ROU RACE (retailtraders ) is new qualification in some areas not everyone have For example i work closely with my partner he code i develop ideas ans bring the Trading knwolege also he knows alof of trading actually we have some good results the problem is we have limitations in some critical areas to convert this in rela big Deal for example we work with some amount of cash we dont need but to be really profiable you need FUEL fuel is not try get a amazing rallys in your operations or 80 90% ratios is put more contracts and keeep the ratio and risk confortable with your money and YOU!!!

[tulasi]

am a novice trader ..i am searching for a simple system..

this forum has been of great help for me..

one kind trader, has posted a thread here titled "this all you need to become a trader".

Though its not a holy grail ,the system is working fine for me on demo..

before going live i just what to learn as much as i can..I know trading live is completely a different story

[Guest gavetso]

if youare profitable ne demo go to relamoney and still follwing your rules if you fail follwing at least 1 rules you will burn your account

[girishpowar]

http://niftygannanalysis.blogspot.in/

[user33]

if youare profitable ne demo go to relamoney and still follwing your rules if you fail follwing at least 1 rules you will burn your account

 

I think everyone knows they should follow the trading rules, and they must have self-discipline in trading, but very few managed to stick to rules, and even fewer managed to become disciplined trader. The million dollars question is: how can traders stick to every trading rules they know they should never violate, and how do traders become disciplined?

Edited December 3, 2013 by user33
typo

[Banner]

user33, well said. Your observation is absolutely true, which reflects the fact that most retail traders will never get disciplined and will keep seeking the holy grail. Of course they will end up with losing.

[kavalan]

I think everyone knows they should follow the trading rules, and they must have self-discipline in trading, but very few managed to stick to rules, and even fewer managed to become disciplined trader. The million dollars question is: how can traders stick to every trading rules they know they should never violate, and how do traders become disciplined?

 

Answer: it's impossible

Never violate a rule it's somenthing impossible to do. In your live, have you never violate a rule? Think about littles things or biggers. Why need to be diferent in trading? By nature we don't want to follow rules, because we think this rules are restrictive.

Professional traders have someone back them controlling his conduct and watching them because by nature they will break the rules.

Become disciplined is somenthing that you have or not. It's impossible to built it. If you try to built it, how many long you will keep it?

If you can answer that you are disciplined, then you can built somenthing in this job and maybe become a professional trader, if not don't vaste your time trading, you will lose all, time, money, family?, etc....

Whatching and regarding deeply your normal live you can see easily if you are disciplined or not. Your normal live can say you if you can trade or not.

In our normal live we have littles or biggers bad habits. Try to change one of them and look how many time will pass to do the same thing again and you will have your answer.

If someone is married think about how many times your wife give you a rule and how many times you have been followed, or think about how many times you say, i will close to trading at this time and whaf happens then? Are you able to keep and follow the simple rule for close your trading computer?

Edited December 3, 2013 by kavalan

[user33]

Become disciplined is something that you have or not. It's impossible to built it.

 

I cannot agree with that, discipline, like you said, is "un-natural", it is not something we have when we were born into this world, it is something we learned from our upbringings and beyond. US military is world's most successful discipline building organization, they have turned millions of undisciplined youngsters and adults into disciplined robots, I personally know many retired ex-marines, their discipline was built from their training and practice, and most of them become disciplined in life. Martial arts is another example, it's all about training to be disciplined, and there are too many other examples.

 

Judging from the pessimistic tone of your post, I suppose you had tried hard but had failed in building discipline in your personal experience, but please don't give up, please don't hold the negative belief that "It's impossible to built it", YES, IT IS POSSIBLE!

Edited December 3, 2013 by user33
typo

[kavalan]

Hi user 33,

 

Sorry if i sound pessimistic and i apologize if some of my words discourage someone. "impossible" is an absolute word and it's hard to call it when you speak about somenthing. I agree with you in your observations. It's possible to build it, like is possible to win consistenly in the markets. The problem is the "possible" word.

In the process to develop this discipline in trading is where you are receiving constantly damage, in the same discipline that you are trying to use, and develop confidence in that can be very hard. "impossible" maybe can say how hard can be developed that in an enviroment that don't help you in that way.

In the army or martial arts you have the constantly support in that way, but not in trading. But, yes keep up the efforts on that way!!!!