How good are you at trading - just be honest

success at anything is based on cumulative input of effort , time , resources , focus that you put in

trading is no exception ......no short cuts
 
Indeed you are cent percent right, success does not come over the night it requires a lot of hard work, dedication and passion to succeed.
 
I have a precise timeframe, entry and exit points, rinse and repeat- works 100% of the time. Do I take the trades? Of course not- I dick around with everything else and then realise I'd forgotten my 'banker'
 
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Windlesham1 said:
I have a precise timeframe, entry and exit points, rinse and repeat- works 100% of the time. Do I take the trades? Of course not- I dick around with everything else and then realise I'd forgotten my 'banker'
Click to expand...

banker signals are most welcome but unfortunately are not frequent enough to be used in isolation .......therefore secondary signals that are still profitable are thrown into the mix to beef up the returns....

my own focus is forex continuation plays .......but i have variations i realise will normally not be as good as others......but still ok.......so,they get played if the better ones are absent in à session

N
 
Pat494 said:
I used to sit in front of the PC and draw lines on the charts for hours on end.
My results even after years of practice were not impressive. So I decided another approach was needed.
Knowing quite a lot about what was needed and what worked I sat down and wrote out the main points that needed consideration.
This I got coded up on MT4. Not very expensive. It took 2 false starts and coded up programmes to refine my ideas.
The third attempt appears to be successful but it is early days. I check it every couple of hours or so but no screen watching.
It has started well and made 6% in first 2 days. Not bad even if I say it myself.
Plenty of time for gardening etc.

:smart:
Click to expand...


that’s a great start.......good luck
 
I find trading has an added bonus of getting the mind to work. Keeps dementia at bay.
 
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Pat494 said:
I find trading has an added bonus of getting the mind to work. Keeps dementia at bay.
Click to expand...
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.
 
ceroade said:
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.
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hey there ....the art to sucessful trading is making it boring and reliable :)

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

N
Click to expand...

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.
 
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
 
i'm mediocre. my winning percentages are average.

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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.
 
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.
 
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i can rate myself as 7/10, of how good i am at trading. have been trading for a while now, almost 5 years.
 
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
 
whitefx said:
i can rate myself as 7/10, of how good i am at trading. have been trading for a while now, almost 5 years.
Click to expand...

Rating 7 out of 10 is a best in my opinion which strategies you believe can help new traders to rate themselves 7 as well.
 
Absolutely bloody useless if June is anything to go by. I’ve drowned in a sea of red.
 
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