Unsuccesful traders please come here!

[donaldduke]

Mmmm.......it's a mixture of methodology and technique AND the individual trader.
It's not a matter of one extreme or the other. It's not a matter of something in between like grey between black and white. It's BOTH.
It's the right tools and the right person. It ain't rocket science.

There are many cases of traders being given good trading method/techniques and failing to make money.

A good method and technique wont always make a good trader.
Whereas a good trader will always have or find a good method/technique they can trade.

A good method is one of the many pre requisites to profitable trading. Like being correctly capitalized, having a good PC and internet connection, having a broker that gives good fast fills etc. But you could give a crap trader all these things and also give them a really good trading system too and they will still fail to make money in the long run.

 

[Trader333]

OK here is a sure fire way to lose money consistently. Select any stock where volume is thin and the spread is greater than 2c and then buy and immediately sell at market. This should ideally be done using a SB company because then the spread will be even wider but it will also work well using direct access as well. Do this all day and each time you do you will lose at least (2c x your share) size plus commission costs.



Paul

 

[counter_violent]

Heres one thats absolutely cast iron guaranteed to fail.

Open and close scalping trades off the cuff at massive size ....the account will be wiped in a jiffy.

Next question !

 

[Black Swan]

Profitable trading is not about the system or the strategy. It's about the trader. If that wasn't the case then all the biggest and best traders in the world would be trading the same way and they are not.

 

[Mr. Charts]

Originally Posted by trader_dante
Profitable trading is not about the system or the strategy. It's about the trader. If that wasn't the case then all the biggest and best traders in the world would be trading the same way and they are not.

That comment seems predicated on the assumption there is only one system/strategy/methodology that can be used to trade successfully, when clearly there are many.

 

[ffsear]

Just take any stratagey/system you can find and remove all money/risk and position size mangament rules. You'll be broke in no time!

 

[elitejets]

All the systems work ... even Hotch's mad plan worked ...
http://www.trade2win.com/boards/trading-journals/54694-how-not-make-money-trading-markets.html
They don't work if you don't stick to the rules, or flit from one system to another or do not use discipline and money management.
That is why there is not one system posted on this thread that does not work yet and we are on page 4.

 

[Technically Fundamental]

why didnt you just ask for successful strategies?

 

[rav700]

I don't think any one will disagree with me here but the most important thing that everybody talks about is how to earn money quickly and holy grails multiple threads are out there....
I have met so many people who call them selves traders yet still pull there trades out at the end of the day thinking a currency or any other product will go higher and higher.( This is just a basic example)
You dont have to go on any courses.....take some time out without looking at the charts and markets and brokers etc.....DONT WORRY YOUR NOT GOING TO MISS ANY TRADE

1.Study the basic market components----Fundamental-Technical-Psychological
2.Take one Product for example cable-No More than one
3. Develop an back test your strategy
4.Paper Trade it with passion and consistency-not thinking it is not important
5.Start trading with mini lots or if you SB's then 1 pence and get the feel for your platform
6. If you can consistently make money ie 5-10% a month on currencies you are a winner
7.That is the Recipe for the Production of a Perfect Strategy
THERE IS NO HOLY GRAIL
No Technical indicator works all the time
Trading has a vast amount to do with Experience...I would say you need to be in the markets for atleast 3-4 years even before you consider going full time.

My Strategy
Keep the charts simple.....
1. Pivot level Bounces
2.Fib Level Bounces
3.S & R Bounces
4.Trading Currency Zones

Did you know my best years in forex were the 1000 point range between 1.9000 an 2.0000 I could seriously tell you what was gonna happen on the currency markets and I made most of my wealth in 7 months of trading it was just too easy....believe it or not...

If you start to look at market behavior in Previous zone history you will get some kind of idea of what is going to happen..( A Currency Zone is 1.4500 to 1.4600 - Example)
Then add the pivots,Fibs and SR thats it..

Also Larger time frames means more pips and RR is way better stop looking at 5 min and 10 min and 15 min charts...For some nice pips go for min of hourly and 4 hourly charts..

NEVER INFLUENCE YOUR TRADE BASED ON BLOOMBERG OR CNBC OR WHATEVER
When you are trading and you hears analyst comment you tend to think this will affect your trade straight away ...NO IT WONT (Some of the analysts are so useless and come on there just for publicity and advertising )

So I hope I provided you with some good information regarding strategies...Keep it simple

Good Luck
Happy Trading
Feeling sleepy so sorry for the spelling mistakes lol
Good night