Trading Sayings: Fact or Fiction | Page 3 | Metals Mine

Options

Go to
Permalinks
Print Thread

Similar Threads

Profitable EA, Fact or Fiction? 35 replies

95% losers - Fact or Fiction? 85 replies

What does that even mean anyway - common trader sayings 8 replies

Broker Moles: Fact or fiction? 7 replies

Trading sytems losing value with age or the more people trade it. Fact or fiction? 25 replies

Trading Sayings: Fact or Fiction

  • #41
  • Dec 2, 2014 7:51am Dec 2, 2014 7:51am
"the longer things stay the same, the more they need to change"
"Holy Grail" exists - accepting where is the first step.
  • #42
  • Dec 2, 2014 8:25am Dec 2, 2014 8:25am
It usually all depends on individual circumstances, I think. It's prudent for a trader to adapt according to the situation they're in, although those sayings are a good guideline.
  • #43
  • Dec 2, 2014 10:45am Dec 2, 2014 10:45am
Quoting azmoeth
They say : Always use Risk - Reward ratio, better 1 :2, best 1:3 Say you want to make 20 pips, then your SL must be at 10 pips or TP 100, SL 50...mmmmhhh I think it's hard to follow,
when they say always it's never mean to do such that way all the time, beside they never even said, use it do not develop it!!
it's a basic idea, a raw ratio which any new comer suggest to follow.
it's easy to understand, to apply and also reasonable.
i will put it once again, in case any new traders read this and i prevent to put any further doubt and confusion.
RR 1:2, 1: 3 , whatever you take it's sole purpose to put our account much more longer in game (trade), the longer you stay the better experience you got.
while entry system built in accuracy purpose, supposed we had 50% accuracy would put the account no harm. if you go lower than 50 you may want to reconsider either fit enough in this field, otherwise back to where the basic learning. as to maintain good entry need time, and some traders often fall in the long run. this where the risk reward ration takes part, besides fx trading never mean to be having an extremely accurately sharp entry. but it's more how much we've got when profit and how much we loss at losing trade, based on this line come the mighty myth Risk Reward Ratio.
just my thought, or my imagination hope this help.
  • #44
  • Dec 5, 2014 4:35am Dec 5, 2014 4:35am
Quoting fxindikator
{quote} ............................................ if you go lower than 50 you may want to reconsider either fit enough in this field, otherwise back to where the basic learning. as to maintain good entry need time, and some traders often fall in the long run. this where the risk reward ration takes part, besides fx trading never mean to be having an extremely accurately sharp entry. but it's more how much we've got when profit and how much we loss at losing trade, based on this line come the mighty myth Risk Reward Ratio. just my thought,...
agree with you bro...but it's still hard for me to choose between tight SL or wide TP, example : if I need only 20 pips per trade, than my SL should at -10 pips or even -7 pips, and since I dont have this " good entry time" dont you think I will hit my SL everytime?
because I dont need much, only 20 pips
thats why I dont use SL, I use mental stoploss (and I hope my mind still in its place when I must hit that SL button)

Hey, that out of topic

lets go back, I have one : Bulls make money, bears make money, but pigs got slaughtered
Maura Zaky Putri Fadhin
  • #45
  • Dec 5, 2014 7:50am Dec 5, 2014 7:50am
"Leverage is a double edged Sword"
It never gets easier, you just get better
  • #46
  • Dec 5, 2014 1:44pm Dec 5, 2014 1:44pm
"Amateurs want to be right. Professionals want to make money."
  • #47
  • Dec 5, 2014 2:17pm Dec 5, 2014 2:17pm
I agree with these:

"The hardest easy money you will ever make"

"There are old traders, there are bold traders, but there are no old bold traders"

and my favourite,

"Inexperienced traders focus on return on their capital. Experienced traders focus on return of their capital."
BTC Return This Year: na
  • #48
  • Edited 7:12am Dec 7, 2014 4:42am | Edited 7:12am
Quoting azmoeth
{quote} agree with you bro...but it's still hard for me to choose between tight SL or wide TP, example : if I need only 20 pips per trade, than my SL should at -10 pips or even -7 pips, and since I dont have this " good entry time" dont you think I will hit my SL everytime? because I dont need much, only 20 pips thats why I dont use SL, I use mental stoploss (and I hope my mind still in its place when I must hit that SL button) Hey, that out of topic lets go back, I have one : Bulls make money, bears make money, but pigs got slaughtered
btw i;m not yet giving my encouragement words.
here's mine, seriously this is mine :
"we can never beat the market but we can always win the price"
this could be my tagline upon my website project fxindikator, i dare to put this on FF first.

back to your ouf off topic problem, i can barely defy and not answer to that. tight SL would result an overtrade, larger SL produce higher lost per trade. both are not suit as profitable manners. and i just try to keep up with tight SL and avoid to overtrade, use price action method it would takes time to get used, but it worth, trust me. you already in the right path, no need to put much SL on your trade, thats a good foundation. i keep the on research on entry which get along with low SL level ( below 20), guess what price action is the key one try on 30 minutes on major pairs. i've done with those part and settle with entry stop order entry type, but let me tell you one more thing, brokers factor also taking part into overal trading performance, so you dont have to conclude your trading system are bad upon consecutive SL hit. use several broker service at once, apply same method and you'll realize what i'm talking about. i've been done this for years and my last discovery are with armada markets, seem modest compare to my other account based on trading performance off course. while their only difference are at spread (not much differs i think), and the most thing affect my current strategy is their different in stop/limit levels, while AM platform set at 0 level other one at 2 pips, had another one set stop/limit levels given 5 pips, and for scalp method i see this essential factor based on my years observation test and research on different brokers trading condition.
  • #49
  • Dec 8, 2014 11:16pm Dec 8, 2014 11:16pm
Quoting fxindikator
{quote} btw i;m not yet giving my encouragement words. here's mine, seriously this is mine : "we can never beat the market but we can always win the price" this could be my tagline upon my website project fxindikator, i dare to put this on FF first. back to your ouf off topic problem, i can barely defy and not answer to that. tight SL would result an overtrade, larger SL produce higher lost per trade. both are not suit as profitable manners. and i just try to keep up with tight SL and avoid to overtrade, use price action method it would takes time...
NIce tagline friend "..always win the price" and also thanks for your consideration.
what is this price action thing people always talking about? whats so good about it? I'd like to find out but too much information will lead you nowhere, so i stick on my system for now on.

yes, they say AM is a great place for scalper.

Hope we all doing well
Maura Zaky Putri Fadhin
  • #50
  • Dec 9, 2014 6:09pm Dec 9, 2014 6:09pm
"Amateur traders focus on how much they can make.

Professional traders focus on how much they can lose."

fartist
Whether you can or you can't, you are both right.
  • #51
  • Dec 9, 2014 8:08pm Dec 9, 2014 8:08pm
Quoting fartist
"Amateur traders focus on how much they can make. Professional traders focus on how much they can lose." fartist
  • #52
  • Dec 11, 2014 1:47am Dec 11, 2014 1:47am
Quoting pipmutt
"When you find yourself in a hole the first thing to do is stop digging!"
Haha I like this one!
--
  • #53
  • Dec 11, 2014 1:48am Dec 11, 2014 1:48am
"Professional gamblers don't gamble"
--
  • #54
  • Dec 14, 2014 1:48pm Dec 14, 2014 1:48pm
Both good quotes zenoniel
  • #55
  • Apr 24, 2015 3:56pm Apr 24, 2015 3:56pm
One more saying: you had better loss some profit, than obtain some loss. Lost profits are ephemeral, but losses are real.
  • #56
  • Apr 25, 2015 3:51am Apr 25, 2015 3:51am
My favorite:
Quoting Seneca pilot
Trading is not about money. Trading is about consistently making the correct decisions. If you make the correct decisions you will make money. If you chase money you will continually make poor decisions.
  • #57
  • Apr 27, 2015 4:53pm Apr 27, 2015 4:53pm
This doesn't come from trading but I would propose it applies to any market with dealers and market makers (almost equivalent from my pov).

"If you can't spot the mark at the table, ..."

Who's the mark? It depends on the timeframe. If you build a position slowly without leverage based on rumors that haven't been priced in, you may have edge over people who wait for further rumors and confirmations and so forth.

Shorter timeframe / maybe using leverage (to lower cost basis)? You could try going with existing trend but you have to assume that you end up buying near the top - how big are the weekly candles. Double down (or add some % - do tests) based on those moves if there's no broken trend lines on the weekly.

If you want to trade more frequently than that then the "mark" is probably not some institution with long term outlook but it could be other short term traders that are probably more experienced than those reading "rookie talk".
  • #58
  • Apr 29, 2015 2:48pm Apr 29, 2015 2:48pm
Quoting zenoniel
"Professional gamblers don't gamble"
Love that one actually.
  • #59
  • Apr 29, 2015 5:07pm Apr 29, 2015 5:07pm
"Trading Sayings: Fact or Fiction"

They are all fiction
They are all false

including this one ...
  • #60
  • Dec 8, 2020 2:03pm Dec 8, 2020 2:03pm
Trading is not a game. You need proper knowledge to make money from this market.
0 traders viewing now