speculativeflows
Newbie
- Messages
- 1
- Likes
- 1
If there was a time machine I'd buy one or take one out on finance. Knowing what we know now we could have avoided costly mistakes more importantly the time weโve lost.
For those who are beginning their journey to becoming profitable you have an advantage of being able to learn from those who are more experienced than you. If you apply a little commonsense and humility, you can learn a lot from mentors.
๐๐ข๐๐ค ๐จ๐ง๐ ๐ญ๐ซ๐๐๐ข๐ง๐ ๐ฌ๐ญ๐ซ๐๐ญ๐๐ ๐ฒ, ๐ฆ๐๐ฌ๐ญ๐๐ซ ๐ข๐ญ, ๐ฌ๐ญ๐ข๐๐ค ๐ฐ๐ข๐ญ๐ก ๐ข๐ญ
Speaking from experience traders will come into the marketplace clicking buy or sell without following a game plan. Trading is the same as sport. In order to have an edge you have to have a game plan. You won't win every single match but it's very possible to win most.
Professional traders call the game plan the traders โplaybookโ.
๐ ๐จ๐๐ฎ๐ฌ ๐จ๐ง ๐ญ๐ซ๐๐๐ข๐ง๐ ๐ฉ๐๐ซ๐๐จ๐ซ๐ฆ๐๐ง๐๐ ๐ง๐จ๐ญ ๐จ๐ง ๐ญ๐ก๐ ๐ฆ๐จ๐ง๐๐ฒ
Ask traders who are still finding it difficult to become consistent. They will tell you they focus on the dollar value of their Forex brokerage account in comparison to professionals who look at trading performance within a month, quarter and yearly period. Most professionals don't use retail brokerage platforms. More on this another time.
We should focus on the equity curve not only is it a reflection of your account it exposes our weaknesses. We only learn from our mistakes. When was the last time you learnt from doing something correctly.
If your equity curve is taking a nosedive you need to seriously start questioning what the heck is happening either with your strategy or psychology. As it can be used to project possible future performances.
๐๐ญ๐ข๐๐ค ๐ญ๐จ ๐ก๐ข๐ ๐ก๐๐ซ ๐ญ๐ข๐ฆ๐ ๐๐ซ๐๐ฆ๐ ๐๐ก๐๐ซ๐ญ๐ฌ
You really need to avoid timeframes lower than the hourly. Majority of the liquidity is based on the higher time frames. You should really only focus on the Monthly and weekly for a directional bias. The daily and hourly for entries. I see traders staring their eyes and energy away at the charts. This isn't why we started trading. We started trading in order to enjoy the freedom it brings. This is why higher time frames are important to me.
๐๐จ๐จ๐ค ๐๐ญ ๐๐ง๐ ๐ญ๐ซ๐๐๐ ๐ฐ๐ก๐๐ญโ๐ฌ ๐ฆ๐จ๐ฏ๐ข๐ง๐
Majority of traders cannot tell the difference between a low volume market and a market that is trending. You can lose a lot of money in a range bound market if you don't realise the market is range bound by holding onto trades hence why being in the moment as a trader is very important. If the market is trending you can miss out on the big moves by taking profits too early.
๐๐จ๐ง๐๐ฅ๐ฎ๐ฌ๐ข๐จ๐ง
Unfortunately time machines don't exist yet. Iโve thought what youโre thinking and Iโve experienced the same trading frustrations youโre experiencing and Iโve made it through to the โother sideโ. I have a virtual blueprint of what you should and should not do in regards to trading the market. Many mistakes that traders make are pretty predictable, as we are all human and tend to behave the same way when trading the markets.
For those who are beginning their journey to becoming profitable you have an advantage of being able to learn from those who are more experienced than you. If you apply a little commonsense and humility, you can learn a lot from mentors.
๐๐ข๐๐ค ๐จ๐ง๐ ๐ญ๐ซ๐๐๐ข๐ง๐ ๐ฌ๐ญ๐ซ๐๐ญ๐๐ ๐ฒ, ๐ฆ๐๐ฌ๐ญ๐๐ซ ๐ข๐ญ, ๐ฌ๐ญ๐ข๐๐ค ๐ฐ๐ข๐ญ๐ก ๐ข๐ญ
Speaking from experience traders will come into the marketplace clicking buy or sell without following a game plan. Trading is the same as sport. In order to have an edge you have to have a game plan. You won't win every single match but it's very possible to win most.
Professional traders call the game plan the traders โplaybookโ.
๐ ๐จ๐๐ฎ๐ฌ ๐จ๐ง ๐ญ๐ซ๐๐๐ข๐ง๐ ๐ฉ๐๐ซ๐๐จ๐ซ๐ฆ๐๐ง๐๐ ๐ง๐จ๐ญ ๐จ๐ง ๐ญ๐ก๐ ๐ฆ๐จ๐ง๐๐ฒ
Ask traders who are still finding it difficult to become consistent. They will tell you they focus on the dollar value of their Forex brokerage account in comparison to professionals who look at trading performance within a month, quarter and yearly period. Most professionals don't use retail brokerage platforms. More on this another time.
We should focus on the equity curve not only is it a reflection of your account it exposes our weaknesses. We only learn from our mistakes. When was the last time you learnt from doing something correctly.
If your equity curve is taking a nosedive you need to seriously start questioning what the heck is happening either with your strategy or psychology. As it can be used to project possible future performances.
๐๐ญ๐ข๐๐ค ๐ญ๐จ ๐ก๐ข๐ ๐ก๐๐ซ ๐ญ๐ข๐ฆ๐ ๐๐ซ๐๐ฆ๐ ๐๐ก๐๐ซ๐ญ๐ฌ
You really need to avoid timeframes lower than the hourly. Majority of the liquidity is based on the higher time frames. You should really only focus on the Monthly and weekly for a directional bias. The daily and hourly for entries. I see traders staring their eyes and energy away at the charts. This isn't why we started trading. We started trading in order to enjoy the freedom it brings. This is why higher time frames are important to me.
๐๐จ๐จ๐ค ๐๐ญ ๐๐ง๐ ๐ญ๐ซ๐๐๐ ๐ฐ๐ก๐๐ญโ๐ฌ ๐ฆ๐จ๐ฏ๐ข๐ง๐
Majority of traders cannot tell the difference between a low volume market and a market that is trending. You can lose a lot of money in a range bound market if you don't realise the market is range bound by holding onto trades hence why being in the moment as a trader is very important. If the market is trending you can miss out on the big moves by taking profits too early.
๐๐จ๐ง๐๐ฅ๐ฎ๐ฌ๐ข๐จ๐ง
Unfortunately time machines don't exist yet. Iโve thought what youโre thinking and Iโve experienced the same trading frustrations youโre experiencing and Iโve made it through to the โother sideโ. I have a virtual blueprint of what you should and should not do in regards to trading the market. Many mistakes that traders make are pretty predictable, as we are all human and tend to behave the same way when trading the markets.
