I want to be, the very best, like no one ever was

This is a discussion on I want to be, the very best, like no one ever was within the Trading Journals forums, part of the Reception category; Originally Posted by dgtrading yes I appreciate your advice, I haven't taken any trades based upon my 'what if' ideas ...

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Old Sep 12, 2016, 11:46pm   #16
 
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Originally Posted by dgtrading View Post
yes I appreciate your advice, I haven't taken any trades based upon my 'what if' ideas for this week and I never will, I always wait for confirmation and specific price action factors that I am looking for.

no trades today as I have become very fussy in regards to the quality of trades taken nowadays, which can't be said about my previous trading history.
you are welcome..keep in mind that "the perfect setup" does not exist..every trade you take will have an uncertain outcome..which is why you must only risk a certain % on each trade..risk too much on each trade and your money can disappear very quickly

that said..when the opportunities present themsleves..one must act accordingly..as lost opportunity can be just as bad..or even worse..than a losing trade

there is one thing that ties it all together..and that is called experience..some think they can bypass the experience bit and jump to the head of the class..big mistake..as it will not be too long before one discovers that they have been in the wrong class all along..it was just that they did not really understand what they were studying for..and were just going along with the rest of the class

anyway..there is no reason why you can not make money trading..all you need to do is get in and get out at the right levels..and at the right (best) times
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Old Sep 13, 2016, 11:05am   #17
 
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Originally Posted by Lúidín View Post
you are to be commended for trying..and i would say the chances of you being the very best..like no one ever was..is..very very slim..as you are doing exactly what everyone else does..so..you are going to get the same results as everyone else

tip..which i know you will not take..but here it is anyway

concentrate on 1 market that you can trade at any time..but preferably be available to trade it's key times..trade what you see happening in front of you..forget about what if this and what if that..as that is only a fool's game

if you can not make some money trading what is actually happening..then the chances of you making money trading based on what has already happened..are very very slim indeed

let's see if you prove me wrong..or prove me right?
I agree 100% Find the instrument you want to trade and stick to it like glue. Get to know its character. Study it like your goal is to be the worlds expert on it. Don’t stray from it just because you think it’s “too this” or “too that”. There are no easy markets to trade, that is pure bullshìt. The people who fail are that ones who jump from one instrument to another hoping to find the holy grail. Perseverance is essential.

Once you understand how to read the price action of one instrument, you will be able to trade any market.
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Old Sep 13, 2016, 12:15pm   #18
 
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Originally Posted by dgtrading View Post
I want to be, the very best, like no one ever was
Im afraid that spots already been taken.
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Old Sep 13, 2016, 1:53pm   #19
 
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dgtrading - this is you at the moment

Click the image to open in full size.

People on here are trying to help you - but you seemed to be determined to fail and no-one's gonna stop you.
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Old Sep 13, 2016, 2:00pm   #20
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Originally Posted by Lúidín View Post
you are welcome..keep in mind that "the perfect setup" does not exist..every trade you take will have an uncertain outcome..which is why you must only risk a certain % on each trade..risk too much on each trade and your money can disappear very quickly

that said..when the opportunities present themsleves..one must act accordingly..as lost opportunity can be just as bad..or even worse..than a losing trade

there is one thing that ties it all together..and that is called experience..some think they can bypass the experience bit and jump to the head of the class..big mistake..as it will not be too long before one discovers that they have been in the wrong class all along..it was just that they did not really understand what they were studying for..and were just going along with the rest of the class

anyway..there is no reason why you can not make money trading..all you need to do is get in and get out at the right levels..and at the right (best) times
yes I am aware that price can explode in any direction at any point in time however I have studied enough charts to put the odds significantly in my favour, and I am not risking large chunks of my account on any one trade.

I have been trading for almost 2 years now so my experience is building up.

thanks for the support it seems like others in this thread are hasty to provide the opposite
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Old Sep 13, 2016, 2:00pm   #21
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Originally Posted by Hoggums View Post
dgtrading - this is you at the moment

Click the image to open in full size.

People on here are trying to help you - but you seemed to be determined to fail and no-one's gonna stop you.
I think all of us have been here at some point.
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Old Sep 13, 2016, 2:03pm   #22
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Happy I did not short EUR/GBP

dgtrading started this thread was very tempted to short this pair last night, however I wasn't liking the possibility of buyers swooping in so close to support
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Old Sep 13, 2016, 2:21pm   #23
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Wish someone would give me a £10 for every thread that starts like this on here then abruptly stops.......for some strange reason.
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Old Sep 13, 2016, 4:58pm   #24
 
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Originally Posted by dgtrading View Post

thanks for the support it seems like others in this thread are hasty to provide the opposite
Handing a bottle to an alcoholic is not support. Develop a written trading plan. Formulate specific trading rules. Then you will at least have a reasonably firm foundation on which to build. Trading your feelings isn't going to cut it.
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Old Sep 14, 2016, 12:30am   #25
 
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Originally Posted by dgtrading View Post
yes I am aware that price can explode in any direction at any point in time however I have studied enough charts to put the odds significantly in my favour, and I am not risking large chunks of my account on any one trade.

I have been trading for almost 2 years now so my experience is building up.

thanks for the support it seems like others in this thread are hasty to provide the opposite
don't mind the rest of them..you can easily see those who know what it is all about..just look at new_trader's post and compare the rest..talk about the same old story

keep on as you are..no rush..markets are going nowhere..just remember that a lost opportunity can cost you a lot more than a small loser..so..get to know the best times to trade..and use them to your advantage

like new_trader said..

"Once you understand how to read the price action of one instrument, you will be able to trade any market."

and he is 100% correct..forget about all else..as the textbook stuff will do nothing but cost you time and money
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Old Sep 14, 2016, 6:59am   #26
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Originally Posted by Lúidín View Post
don't mind the rest of them..you can easily see those who know what it is all about..just look at new_trader's post and compare the rest..talk about the same old story

keep on as you are..no rush..markets are going nowhere..just remember that a lost opportunity can cost you a lot more than a small loser..so..get to know the best times to trade..and use them to your advantage

like new_trader said..

"Once you understand how to read the price action of one instrument, you will be able to trade any market."

and he is 100% correct..forget about all else..as the textbook stuff will do nothing but cost you time and money
Clearly every institutional trader, who's employer pays possibly hundreds of thousands a year on the best news feeds, trades off charts alone.
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Old Sep 14, 2016, 2:16pm   #27
 
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Originally Posted by new_trader View Post

Once you understand how to read the price action of one instrument, you will be able to trade any market.
Not necessarily. Some markets are heavily arbed, some aren't. Some are mean-reverting, some aren't. And the PA of a penny stock is not going to be the same as the PA of a large cap. Different players.

If one learns how to read the PA of a particular instrument, he will be well-equipped to read the PA of similar instruments, but not all.
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Old Sep 14, 2016, 7:36pm   #28
 
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Clearly every institutional trader, who's employer pays possibly hundreds of thousands a year on the best news feeds, trades off charts alone.
we are not worried about those who trade with other people's money..we are only interested in trading our own money..and ignoring what anyone elses says or does..as it can only have a negative affect on our results..due to the realities of life..which for some silly reason..most are happy to ignore..even when their results show them they are just wasting their time
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Old Sep 15, 2016, 7:38am   #29
 
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Clearly every institutional trader, who's employer pays possibly hundreds of thousands a year on the best news feeds, trades off charts alone.
Your point being what? That a newbie should pay hundreds of thousands a year on the best news feeds?
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Old Sep 15, 2016, 8:24am   #30
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Originally Posted by Lúidín View Post
we are not worried about those who trade with other people's money..we are only interested in trading our own money..and ignoring what anyone elses says or does..as it can only have a negative affect on our results..due to the realities of life..which for some silly reason..most are happy to ignore..even when their results show them they are just wasting their time
yes its his money - and by the way he hasn't got any to spare to trade so theres another reason he will fail at this juncture ......

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