No it's not easy. The concept may be simple, but it's very difficult to get to the stage where one applies and executes consistently through the good times and the bad.
No it's not easy. The concept may be simple, but it's very difficult to get to the stage where one applies and executes consistently through the good times and the bad.
shadowninja
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One issue to be wary of is that the market conditions may change to something else. I don't know your specific style of trading but if a trader had just bought the dips trading BA shares since March 2009 he'd be doing pretty well now and think he's a master trader.
yep agree
megamuel
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Another vote for 'not easy' here. I agree with JRP - the actually process of trading is easy but actually consistently making money is not. I'm not currently trading at the moment but on the 2 attempts I tried I came out around break even. I can do the discipline and money management bits, I just don't have a clue when to enter and when to exit!
Sam.
Sam.
Perhaps I shouldn't have indicated trying to pass judgement over my success/failure.
I think what i'm trying to ask is the ratio of the number of threads on T2W of the nature "i've blown my account", "i keep losing", "i can't make a consistent profit", to those that are general tinkering subjects on "presumably profitable strategies(?)" is quite small. Ie. there's alot of guys on this forum and only a few of them lose. I know this assumption is a bit of a stretch, and i'm not explaining very well... but oh hum!
I think what i'm trying to ask is the ratio of the number of threads on T2W of the nature "i've blown my account", "i keep losing", "i can't make a consistent profit", to those that are general tinkering subjects on "presumably profitable strategies(?)" is quite small. Ie. there's alot of guys on this forum and only a few of them lose. I know this assumption is a bit of a stretch, and i'm not explaining very well... but oh hum!
4xpipcounter
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You nailed some trader's downfalls. They coast along burning on all cylinders, trading dips in a rtrend, and all of a sudden, the trend changes, and they don't know what to do. The methodology has to be able to adopt along with the trader.
The temptation is after stringing together some consecutive wins is that you don't ever want to let the streak end. The trader gets stubborn. Sometimes its good just to take a losing trade to stay on a level mental playing ground.
I once had 25 conecutive winning trades. After awhile it got too much. I was glad that on that 26th trade to finally take out a loser, and then start fresh. LOL, I had something like 3 of the next 4 trades being losers, so I had to end that streak, too.
The temptation is after stringing together some consecutive wins is that you don't ever want to let the streak end. The trader gets stubborn. Sometimes its good just to take a losing trade to stay on a level mental playing ground.
I once had 25 conecutive winning trades. After awhile it got too much. I was glad that on that 26th trade to finally take out a loser, and then start fresh. LOL, I had something like 3 of the next 4 trades being losers, so I had to end that streak, too.
Trading Fox
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In response to the original question - leonarda I don't think trading is easy.
It is easy to trade but not so easy to find a trading strategy that you can trade profitably and that you DO trade profitably.
I read a book called the Black Swan that perhaps described the reason to the number of profitable traders on T2W boards - its about survivorship bias. We are still here talking about trading because we have survived and are profitable. The others have lost interest and gone back to a the drudge!
cheers
Vossey
It is easy to trade but not so easy to find a trading strategy that you can trade profitably and that you DO trade profitably.
I read a book called the Black Swan that perhaps described the reason to the number of profitable traders on T2W boards - its about survivorship bias. We are still here talking about trading because we have survived and are profitable. The others have lost interest and gone back to a the drudge!
cheers
Vossey
Ambrose Ackroyd
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Like this ??
thanks, yes of course, survival of the fittest sort of thing, that would explain it. This is the sort of answer/analysis I was looking for. It's obvious now you say it!
Cheers!
Shikamaroo
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I think traders on here would probably avoid posting threads if they don't think they can hack it. Also it is easy to know if you can hack it since your financial statement says it all.
I think trading is hard.
yep good point.
Hilarymannah
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It's the most simple business in the world, once you learn how to manage your emotions,..
Those who find it hard, obviously haven't,...quite simple really, doesn't take a phd in astrophysics to work it out
Those who find it hard, obviously haven't,...quite simple really, doesn't take a phd in astrophysics to work it out
4xpipcounter
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Just a little extra input.
I don't know what people mean when they say "tough climate". Any given market will move one of two ways-- up or down. Your methodology is what should be able to discern that. So, in a proverbial sense, if it is stormy--the market will only move up or doiwn. If there are wars--up or down. If there is bad economies-- up or down. If employment is falling apart-- up or down. So if trading conditions are stormy or otherwise-- the markets still move up or down. Let the methodology tell you which way, and then jump in.
I think trading tends to be viewed as being more complicated than it really is. I view the totality of the trader as needing the 3 M's-- 1. methodology; 2. margin management; 3. Mind management. The first two should be easy, or the trader should not be in the market. The 3rd point is the intangible element. That is the part that will really make the trader over the long haul. Fear and greed are the 2 main sub-elements of number 3.
I don't know what people mean when they say "tough climate". Any given market will move one of two ways-- up or down. Your methodology is what should be able to discern that. So, in a proverbial sense, if it is stormy--the market will only move up or doiwn. If there are wars--up or down. If there is bad economies-- up or down. If employment is falling apart-- up or down. So if trading conditions are stormy or otherwise-- the markets still move up or down. Let the methodology tell you which way, and then jump in.
I think trading tends to be viewed as being more complicated than it really is. I view the totality of the trader as needing the 3 M's-- 1. methodology; 2. margin management; 3. Mind management. The first two should be easy, or the trader should not be in the market. The 3rd point is the intangible element. That is the part that will really make the trader over the long haul. Fear and greed are the 2 main sub-elements of number 3.
meanreversion
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Nothing wrong in this, but at least have the decency to admit you nicked that straight from Alexander Elder ... !
4xpipcounter
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I didn't nick that or plagarize anyone. When I started trading in 2004. I was putting together a methodology, and it came together in the latter of 2004 part to the early part of 2005. From that point, I still keep bankrupting my demo accounts. I noticed there was still a problem. I was putting too much on my trades, so it did not allow for much back up. By March 2005 (I think) I opened a live account and bankrupted it. It was then I realized that the sublets of the mental warfare was working against me, and that is fear and greed (make a long story short). I had to deal with that part of it, and then opened another account with a smaller amount. I struggled for a few more months, and then by mid 2005, things took off for me. In 2007, my methodology finally hit completion was the addition of the ichimoku cloud, the invention of my proprietary set of S&R's, and the deletion of some other indicators I was using up to that time.
I don't even know who Alexander Elder is. Later, after I figured out the 3 M's for myself, I found out someone taught it in a class he (Not Elder) was teaching.
In addition, I have been quick to give credit to Max McKegg, when I started trading, in that his trading helped me a lot to bring together my methodology. I have often referred to ACtion Forex as an excellent free source for the newbies to learn by. I have mentioned Captain Currency and his "3 Ducks" thread, as an excellent methdology for newbies to learn by, Pipmaster's "GBP/USD 123", and my friend JahDave's "EUR/USD Elliot Wave". Now, I never mentioned Meanreversion to anyone, because I don't know what he offers, except accusatorial uninformed garbage that just took up some of my time. (It's okay to laugh on that one. I am.) So, if I quoted someone, then I would have mentioned the inidividual because my "decency" is outstanding. I will always give credit where credit is due. Get your facts "straight" before you accuse me of "nicking that straight" from someone.
Also in working with people (for free), I have noticed that no one can trade without having all three of those trading traits working for them. It is just a fact. Through my experience, it has been that I noticed traders and me develop a methodology and learn to manage margin on a demo account, but it takes a live account to know where you stand on the mental part.
I don't even know who Alexander Elder is. Later, after I figured out the 3 M's for myself, I found out someone taught it in a class he (Not Elder) was teaching.
In addition, I have been quick to give credit to Max McKegg, when I started trading, in that his trading helped me a lot to bring together my methodology. I have often referred to ACtion Forex as an excellent free source for the newbies to learn by. I have mentioned Captain Currency and his "3 Ducks" thread, as an excellent methdology for newbies to learn by, Pipmaster's "GBP/USD 123", and my friend JahDave's "EUR/USD Elliot Wave". Now, I never mentioned Meanreversion to anyone, because I don't know what he offers, except accusatorial uninformed garbage that just took up some of my time. (It's okay to laugh on that one. I am.) So, if I quoted someone, then I would have mentioned the inidividual because my "decency" is outstanding. I will always give credit where credit is due. Get your facts "straight" before you accuse me of "nicking that straight" from someone.
Also in working with people (for free), I have noticed that no one can trade without having all three of those trading traits working for them. It is just a fact. Through my experience, it has been that I noticed traders and me develop a methodology and learn to manage margin on a demo account, but it takes a live account to know where you stand on the mental part.
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arabianights
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trading's a piece of ****, anyone who fails deserves it
oildaytrader
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Trading is very easy ,the hard part is discipline.Most traders suffer from it, because the ones who trade do trade because their brains are wired differently (their beliefs etc).If you are highly disciplined , you wouldn't trade at all.
Forex Trading is EASY, watch this....
http://www.youtube.com/watch?v=I1dZUXC9h_s
Now if you believe all that Bull your dreaming.
Like all things in life some find trading easy some find it hard. I mean Roger Federer finds Tennis easy yet I can't hit the ball.
http://www.youtube.com/watch?v=cTl3U6aSd2w
In trading what works for you will not work for another as we are all made up different and think in different ways.
If your profitable well cool enjoy
http://www.youtube.com/watch?v=I1dZUXC9h_s
Now if you believe all that Bull your dreaming.
Like all things in life some find trading easy some find it hard. I mean Roger Federer finds Tennis easy yet I can't hit the ball.
http://www.youtube.com/watch?v=cTl3U6aSd2w
In trading what works for you will not work for another as we are all made up different and think in different ways.
If your profitable well cool enjoy
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