How did you find success? | Page 13 | Metals Mine

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How did you find success?

  • #241
  • Dec 24, 2019 7:57am Dec 24, 2019 7:57am
Quoting moomooforex
People always say stuff like - don't go against your system - don't be emotional when trading etc etc So why don't we just automate everything and win all the time?
There is automatic trading as well and it works (not always and not 100% safe but works). Possibly that is why people say these things all the time...
  • #242
  • Dec 26, 2019 8:21am Dec 26, 2019 8:21am
It applies to manual trading as well - if you have a system that works, it's logical not to attempt to fix a thing that is not broken.
  • #243
  • Jan 6, 2020 3:44am Jan 6, 2020 3:44am
Quoting dany2019
Success comes to those who work for it. So is the case in forex trading. You have to work hard and not lose patience. It may take years but you don’t have to lose hope. The results of fx trading is worth all the hard work.
Very rightly said and I think along with a hard work a trader needs to do smart work as well consistently.
  • #244
  • Jan 23, 2020 1:17am Jan 23, 2020 1:17am
Quoting kuzmichenko
{quote} There is automatic trading as well and it works (not always and not 100% safe but works). Possibly that is why people say these things all the time...
automated trading system is a source to bring profit from this stock market besides manual trading, when trading strategies and analysis doesn't work in there, traders move on that . but the result we get from this approach , its all about for temporary session ,nothing without it, problem is here.
  • #245
  • Jan 23, 2020 9:15am Jan 23, 2020 9:15am
That is certainly an option and it does work for some people, but one should always test them extensively before using them.
  • #246
  • Jan 24, 2020 1:26pm Jan 24, 2020 1:26pm
I think in FX Automated Trading only works on long Timeframes with the right algorithm behind it, but in the end an EA for MetaTrader will never get the fundamentals like the HFT Interbank Computers which can also trade economic data or fundamental news input by a human so that algorithm can interpret it correctly. (Someone with coding background will know what I mean)

My opinion is that a retail trader flattens account after account in the long run if he doesn't get the fundamentals right.

Technicals are fine, but just tools to fine tune your trade idea which is based on fundamental analyses.

All the best on the road to success!
  • #247
  • Jan 25, 2020 3:41pm Jan 25, 2020 3:41pm
Quoting 1to9
I am hoping to become a successful trader. I am not looking to become rich but it would be nice to be able to make extra moolah. To those who doing that now please can you give some advice so that us struggling rookies can benefit from your experiences.
I guess success never came. It's been a decade since the gentleman made his last post.
Risk Management is of utmost importance!
  • #248
  • Jan 26, 2020 9:35am Jan 26, 2020 9:35am
I'd like to think they found success and are now on a beach somewhere, living their best life.
  • #249
  • Jan 26, 2020 10:50am Jan 26, 2020 10:50am
Quoting mlawson71
I'd like to think they found success and are now on a beach somewhere, living their best life.
Haha, probability of that is less than a 5%
  • #250
  • Jan 28, 2020 9:51am Jan 28, 2020 9:51am
I agree. Hard work, in my opinion, is the only way to get better at this.
  • #251
  • Jan 28, 2020 12:41pm Jan 28, 2020 12:41pm
1. Remove all indicators
2. Buy low sell high (when value stays the same)
3. Work smart not hard
4. Do not reason the market, it's unreasonable.
5. Learn and understand basic probability thoeries.
market is a device for transferring money from the impatient to the patient
  • #252
  • Jan 29, 2020 11:52am Jan 29, 2020 11:52am
Why remove all indicators?
  • #253
  • Jan 29, 2020 6:05pm Jan 29, 2020 6:05pm
Quoting mlawson71
Why remove all indicators?
Why have indicators?
If it works, great, use it, but does it work for you?
market is a device for transferring money from the impatient to the patient
  • #254
  • Jan 30, 2020 9:21am Jan 30, 2020 9:21am
Yes, I use a pair of indicators that work for me relatively well.
  • #255
  • Feb 4, 2020 12:34pm Feb 4, 2020 12:34pm
Success is a slippery slope, specially in trading... but I found the potential "edge" by accident... By applying some tools from other industry to trading... and detected some correlations... Still trying to prove it however... Long process... Hard to isolate market(s)...
Can you afford to take that chance?
  • #256
  • Feb 4, 2020 9:02pm Feb 4, 2020 9:02pm
Success is for those who are working really hard to achieve what they have dream about and they have done their best for this to get the maximum result for it.
  • #257
  • Feb 4, 2020 11:30pm Feb 4, 2020 11:30pm
tbh, ten years now and still looking for him, its a never ending grid.
  • #258
  • Feb 6, 2020 9:51am Feb 6, 2020 9:51am
I agree. I don't think there are any shortcuts, one just has to take the time and make the effort to learn.
  • #259
  • Feb 6, 2020 1:23pm Feb 6, 2020 1:23pm
Quoting smikester
I just seem to be a lot luckier these days. It's taken me 2 - 3 years and now I am making money. I have just recovered from some kind of weird RSI injury in my mouse arm so I now use my other hand to operate the mouse. I also lost quite a bit of money on the way. When I look back at some of the trades I took and held on to I break out in a sweat and go red from embarrassment. In the spare room there is a falling over stack of notebooks, squared paper, with all kinds of strategies back tested. I just seem a bit luckier these days. Not only that,...
I am curious to know about your (working) strategy which you found! Would you mind sharing it please?

PS: I am still doing trial & errors with different strategies. Sometimes they work for some time & then.... I blow my account (LOL)
  • #260
  • Edited 3:20pm Feb 6, 2020 2:59pm | Edited 3:20pm
Quoting Butterscotch
Success is for those who are working really hard to achieve what they have dream about and they have done their best for this to get the maximum result for it.
Nice quote, but in reality, market does not care if you joff life in front of charts or used the coin-flip or the cat selected between buy/sell... That is the truth.
Other thing that I would add is... NOT doing something is much harder than DOING something aka WORKING HARD even But yeah, in some professions that is spot on.. the ones that SKILL-DRILL might GET somewhere first/better/best.. BUT trading is ALTERNATE REALITY... when something appears to work and work and work.. until it is not and no-one knows why... There are no FIX rules, constants or anything.. outside some basic stat and management skill... but even that can be challenged at least in some window of opportunity when nothing follows the rules Some recognise this and milk it as fast as they can, some interpret it as the holy grail and go bust when the window closes...

I knew a guy that watched charts 16h a day, tick by tick, has university degree in economics, did read books, listed all possible news, commentators, you name it, he lived for it, worked HARD, for years... feeling/thinking "working hard" would bring it... Also know a guy that traded from mobile phone from the strip club, haven't even watched the news... Guess who made it and who went bust? It is like this:

Inserted Video


So anyone that write me how HARD he works in REAL trading... I have a glimpse already But of course, again, REAL trading.. Not filling orders, providing liquidity, prepare IB contracts, getting SALES done etc.. but TRADING TRADING which rare know what basically is.. It is future prediction/modelling in one way/form or the other Everything else is evened out... in the long run At least form what I have seen...
Can you afford to take that chance?
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