Game changing habits.

Dec 29, 2018
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#1
So quite new to all this but here and there from various sources like YouTube, google, here etc... I bump into various things people claim to be gems and can create a huge difference. One example is tracking your trades in a journal/spreadsheet. One guy went as far to say that if he lost his trading skills it'd be ok but if he lost his trading data he'd be totally screwed.
I want to start this hobby/career as optimally as I can- please can you tell me what great things there are which require discipline and organisation like the above or anything really that can make a big difference to someone's trading? Any good habits really, even while trading...
 

tomorton

Well-known member
Feb 28, 2002
7,085
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Exeter
#3
Decide what you need to look for in order to make your trade decisions. Do not stuff the decision process with more and more and more information and conditions and indicators in the hope your results will therefore be better. Then search out only that data which you need for the decision - enter / exit / stop-loss / position size / pyramid / take profits etc. Each bit of information must be essential to the right decision or else kick it off your check-list. Do not look for anything else.

Recognise that one you're in a trade, price can only do one of four things - go up slowly, go up quickly, go down slowly, or go down quickly. Plan before you enter what you will do in each case (its not hard, there are only 4).
 
Mar 21, 2018
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#5
Getting up early in the morning and going to bed early in the evening will be a good habit.Oddly enough, traders often lack the regime. They want to sleep at the wrong time in the afternoon, because they didn’t sleep much at night. They feel bad and are not ready to trade. Something annoys them, and again they are not psychologically ready.
 
Dec 27, 2018
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#6
You will work out some good habits from your own experience, don’t worry about it. Just concentrate on your strategy and plan first, think of the way you can achieve them, and then just analyze what worked better for you and what could be avoided next time. No secrets – just hard work.
 

NVP

Well-known member
Jun 21, 2004
36,085
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west sussex, UK
fxcorrelator.com
#9
One of the most important, but quite often undervalued thing is trading discipline. Sometimes trading discipline could even compensate the lack of knowledge or education.
discipline is very important in the mix ......but in truth you have to bring a hell of a lot of other different skills and qualities to the table to be a good and consistently profitable trader ...and you have to do it day in and day out .....

the market has Zero weaknesses ....so only your best game will do