Game changing habits.

[James turtle]

Pick your account type and leverage ratio in accordance with your needs and expectations. Plus restrain your emotions.

 

[Daniel Jones]

The biggest issue I always had was patience to become a successful trader. Instead of reflecting on my learned knowledge I would try to trade and learn simultaneously which isn’t really possible. I learned patience and now I’m doing well in all areas of my trading with slow consistent gains.

Yes being patient is a big task, even I face the same issue. Can you help me with getting over this problem, what did you exactly do to become patient?

 

[scarlet jones]

Yes being patient is a big task, even I face the same issue. Can you help me with getting over this problem, what did you exactly do to become patient?

Well you can meditate in between . It works for me. Try to bring patience in your life to bring patience in trading. In fact formulating a trading plan can also help as you will specify your entry and exit points in it. So you will know how much to trade, when to trade and when not to. It will not only help you become patient but also a disciplined trader.

 

[fibo_trader]

What do you do if price moves sideways?

Correct! But let's crank it up a notch by asking, "what do you do if Price moves sideways, but to the left instead of right?"

 

[fibo_trader]

Ha-ha! The bug-bear of indicators! If price moves sideways too much, signals become unreliable.
I have reverted to using some form of granularity, maybe ATR, so that price needs to move by some minimal amount to be considered a move. Acknowledge the existence of uncertainty in moves.
Trend-plays have to switch to breakout mode. (have struggled for years to codify this, though. Its all eyeballs stuff)
Have been re-visiting Renko charts. (just for fun)

How do you resolve a sideways market?

Jesus H Christ! 40 years a trader and he still does not get the basic of basics ......................

Price can move sideways for eons, but if the LOW is still holding, who gives a fck? - the trend is still up. LONG is the way to remain in the game with Stop under the wave low.

Help them Father, I would send them all back to Kindergarten but McQueen won't let me

 

[fibo_trader]

Well you can meditate in between . It works for me. Try to bring patience in your life to bring patience in trading. In fact formulating a trading plan can also help as you will specify your entry and exit points in it. So you will know how much to trade, when to trade and when not to. It will not only help you become patient but also a disciplined trader.

As in .............. if you want pretty nurse you have to be patient.

 

[fibo_trader]

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...

Ask your question in the right place.

Asking your question here or at any trading forum is asking at the bottom of the barrel, loaded to the hilt with 1k-5k accounts = unanimous underutilized wannabe traders, therefore 100% certain losers. Akin to garbage in = garbage out.

Your homework: apply line #1

 

[fibo_trader]

Ask your question in the right place.

Asking your question here or at any trading forum is asking at the bottom of the barrel, loaded to the hilt with 1k-5k accounts = unanimous underutilized wannabe traders, therefore 100% certain losers. Akin to garbage in = garbage out.

Your homework: apply line #1

Explanation of my post with parallel example:

Guitar playing proficiency:
where you want to be in Trading is either Level 2 or Level 3. Nothing lower will do. At Level 3, you will even lafffff at Level 2.

99.99999% of the Trading public will ooh and aah at a Level 2 player but they will have no words to describe the sheer utter poetry that a Level 3 player delivers (Heaven comes to mind). Applies in spades to all things but especially to TRADING/INVESTING


Level 1: guitar learning school where everyone is floundering and getting frustrated and just can't get it

Level 2: Eric Clapton

Level 3: Jimi Hendrix



Level 2 vs Level 3 shown in video