So true
Some previous comments will now apply to this next part of understanding how I trade - ie
"You need to be dynamic and totally flexible - remember all you want is to keep making money - every day - every week and every month"
"To do that you have to be flexible - and to get use to losing."
"Entries are paramount"
Hi F and all
I'm completely new to T2W, just joined today and can I say how refreshing it is to hear your honesty and concern for other traders. This also goes for the many contributors to this thread.
I haven't got round to posting my introduction - will do v soon - but wanted to respond quickly to being a good loser - sort of counter intuitive in this trade, isn't it? - but it caused the turning point of my trading career two years ago. I studied and practised hard to get the numbers to work until it struck me that the losers were essential to winning. To say that i'd like to win 7 trades today - well, might as well say I'd like to lose 3 trades today, and if that is reflected in the reality of your probabilities, then why not put a budget of pips together to pay them off.
I used to sell b2b for a living. Every salesperson knows the number of prospects has a direct and normally consistent relationship with numbers of meetings and eventually the number of sales. 10 face to face = 3 sales. I used to walk away from failure to converts with a thanks on my lips - I'm one meeting nearer to making money.
So there you have it - you cant win trades without losing some. When I finally accepted that, it kind of took the wind out of the sails of the other guy fighting me.
Myself.
Looking forward to more of this thread and hopefully others. Oh btw I know nothing more than the basics of Forex but I'd like to get stuck into a lot more.
Warm regards
Jack