How You are Enjoying Your Trading Life ?

[Ganesh FXAM]

Hello

So everyone here all are traders :smart:
So How is Your Trading life ?
Huge Loses ? Huge Profits ? Both ?

Its Really funny one day we earn a lot and other day we loose all this will happens mostly when we are as beginners .

So now After gaining some Knowledge and experience about Trading we are always looks forward to make Stable profit every time we trade what ever the trading stye it is

So finally every one here knows a special thing on their trading life..So if we share our experience we faced on trading life till now as a Beginner as a Expert definitely it will help to everyone specially for the Newbie's here

See every reply here you post is Very Important and useful to every one and One More I appreciate the thing you do i mean sharing your real experience out with others by doing a valuable post here.It Helps a lot to everyone may be Indirectly it helps

So let's Get Started.....

 

[Charles Bronson]

I gained some knowledge. Understood trading. Made a fortune paper trading, felt confident and went live. Had a few wins followed by a few losses. Tried to make back what I lost by increasing my size. Lost even more. Got scared of trading live.Went back to paper.

Repeated the above for a few years.

Took a different approach. Formed a plan. Followed it. Started making some money. Got confident, accepted losses, stuck to discipline. Became consistent.

Lubbly Jubbly.

 

[jamesuk]

I have never made huge losses or huge profits. Of course i made losses and i think i gain muc more from losses than profits. With time you became more focus and your psychology is getting better in means of accepting and adopt to different situations.

 

[arigoldman]

I think consistency in trading is crucial. Personally, I try to follow strict rules that involve patience, humility and respect for the market.

 

[peakoil]

Hello people. While this poster is not strictly one for the 'trader' moniker; this one prefereth, officially, to be considered as a 'reasonably experienced spread-better'. Nonetheless, (and maybe some newbies might be interested to read this) one thing's becoming surer - the longer this poster does this, the more adept he seeks to be, at managing losses. And, just to clarify, I mean that, in this sense: the more you take care of your losses, the more your wins will take care of themselves.
And I've been at this a fair while by now. Indeed... if you too stick at it long enough, you might also find yourself being more enthusiastic about, or even enjoying, all the twists and turns of the wider markets.

Anyway, here's a ...certain someone's quote, for today, which I hope you'll all like:

"Losses are just our chosen form of transport, which we must always strive to take in the direction of our winnings."

- 'Peakoil', London​

In other words, all too often newbies mistakenly think of losses as something to be avoided at all costs, while those of us who are more experienced, know that losses are not only completely unavoidable, yet still are a vital component of success; and moreover to be perceived as something which always must be both managed and assimilated. Besides, experience teaches us that every great win spent at least some of its early life as a loss. Whether that 'paper loss' becomes 'a realised win' is both up to the vagaries of the market itself and (no less importantly) how *you* play it! And, dare I ask - aren't those the factors which truly divide the minority from the rest?

 

[Pat494]

A big part of trading happiness is to manage your trading time properly. By that I mean what suits your other commitments and your life style. Years ago I spent too much time on really short time frames, hunched over the computer. Now I am much more relaxed on a daily TF and with stops and target profits, once done, have the rest of the day to let it run it's course. Although I can't resist checking in occasionally.

 

[drtro]

Confidence is what you need to be successful.

When you aren't confident, you're scared to take things easy. You change your strategy or indicators constantly trying to compensate for it, and you never develop consistency. No matter what, even if you're your system is mechanical, it won't work if you aren't confident.

There's a difference in being confident and having an ego. You can't be a Quarterback and think "If I just throw a few passes and maybe limit myself to 1 interception, it'll be good enough to win." You have to have the confidence every game that you're going to throw 100% and 4 touchdowns. But you can't have an ego to think that you can actually just lob the ball in the air and your receiver will always catch it. You are never going to make it if you aim for average. That rule applies to life, not just trading. Nobody ever says "I'm going to major in Computer Science so I can get a secure $40K job for the rest of my life." They have the expectation to move up or start their company. That's just how human psychology works. There's so much pessimism and negativity in trading community, and it's why most people fail. They aim for average, or believe in the statistics. They think they know everything, when they are in no better position than the person they are telling they will never make it. It's essentially fat people insulting people for being fat.

You have to think positive, and be positive towards other traders. Being angry, depressed, sick, or anything can affect your trading performance.

 

[SaulGoodman]

I try to calm treat losses and earnings . And most importantly it is easy to open positions never hurry , what then I do not wish that what is done in the hurry .

 

[Pat494]

A big part of trading happiness is to manage your trading time properly. By that I mean what suits your other commitments and your life style. Years ago I spent too much time on really short time frames, hunched over the computer. Now I am much more relaxed on a daily TF and with stops and target profits, once done, have the rest of the day to let it run it's course. Although I can't resist checking in occasionally.

For instance today, I had my trades done by 11.30 am and went off to a near 5 mile beach to have a picnic and run the dog along the sands. Back for tea.

Great