How good are you at trading - just be honest

Pat494

Legendary member
13,400 1,313
I find trading has an added bonus of getting the mind to work. Keeps dementia at bay.
 

ceroade

Newbie
4 1
I find trading has an added bonus of getting the mind to work. Keeps dementia at bay.
I am feeling the same, especially since i started using leverage and learned few things in the hard way without using stop loss :cry: when i first started. I trade mainly on the cryptocurrency front (started using leverage trading platforms like Bitmex last summer and now i am on Primexbt) as the volatility is somehow very exiting. Lately i am getting better but the first few trades were full failure until i learn how the instruments work and the advanced order types.
 

NVP

Legendary member
36,411 1,815
I am feeling the same, especially since i started using leverage and learned few things in the hard way without using stop loss :cry: when i first started. I trade mainly on the cryptocurrency front (started using leverage trading platforms like Bitmex last summer and now i am on Primexbt) as the volatility is somehow very exiting. Lately i am getting better but the first few trades were full failure until i learn how the instruments work and the advanced order types.

hey there ....the art to sucessful trading is making it boring and reliable :)

N
 

ceroade

Newbie
4 1
hey there ....the art to sucessful trading is making it boring and reliable :)

N
True, I am still learning and when it becomes boring and profitable i will know that I have manage, because some times I tend to take quite the risk on the trading platforms with leverage (Bitmex and Primexbt mentioned above).

Also I need to study more on the instruments for analysis as they give good probability on where the market is maybe headed.
 
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Akinozragore

Junior member
22 2
I started to trade for the first time more than 5 years ago...That was Forex, I traded without any system, intuitively. I thought that I feel the market, but in reality, I played Russian roulette. Eventually, it was supposed to end up by the full wipe out, but I was smart enough to start reducing the volumes instead of playing martingale. In the end, I lost a lot, but not all. It was always easy for me to manage the money. Speculating on exchange you can not be sure in your trading results, no matter how cool is the system you used. But you can control your capital, and it brings you some kind of feeling of stability.
To be honest, eventually, I left the speculation for position investment. Sometimes I can speculate, for instance, last year I had a period when I was actively trading the cryptocurrency, but it was episodical. And always when I start speculation I can not get rid of the feeling, that I'm sitting at the gaming table)
 

NVP

Legendary member
36,411 1,815
most traders agree that the key to trading is money management ......thats it ........it will create magic even from mediocre systems ......its not the holy grail but pretty much as close as it gets

N
 
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TradeKing305

Junior member
23 3
fantastic - well done ......
Thanks! Unfortunately my losses are always a lot bigger than my wins. So despite having decent win percentages, I end up breaking even most the time.
 

danpadcas

Junior member
15 0
After being a breakeven trader pretty much over a year my trading career starts showing me some light at the end of the tunnel. This 2019 I had a really good positive % every month. I'd say my point of inflexion was, understand risk management and countless loads of patience.
 

Silverston

Junior member
15 3
We are lucky in the UK that we can use spreadbetting on tiny stakes to practice... this is how I started but then started to overtrade. I was spread betting since nearly 20 years now and its a mental game. I lost several thousand on Arabica Coffee with IG (in one fateful trade), as it was clearly going to the moon - but I was three or four years early in 2004. Then over a couple of years 2008 and 2009 were truly very good for trading commodities and gradually through trading conservatively and small size got back and slightly ahead and profitable until 2011 when I took a complete break from trading. I found an excellent forex system that I adapted in 2009 but found using too short timeframes didn't suit and it was H4 or daily that fit my comfort zone better.

How do you measure good? a bull market can make anyone look like a genius! As far as trading my system I can do that dispassionately now, losing just doesn't have the sting/bottom of the stomach feeling as it used to, so I think that's progress. But on the other hand wins don't seem that worth it sometimes for the time spent, maybe I need to trade bigger.
 

NVP

Legendary member
36,411 1,815
indeed what does "good" mean ? ............for me a successful trader brings all the needed elements together in 1 package .....and executes at high levels of excellence and consistency at all times

the market takes care of the rest ...........and part of being a good trader is to realise when you cannot beat the market ....regardless of how "good" you are ......if the market is not reflecting the dynamics of your system then at best you are breaking even .....and most of the time you will be losing

a good trader recognises this and minimises losses in these times ......then they optimise returns when the is doing what they want it to .....

thats it ......
N