What’s the most challenging part of trading for you?

[Shakone]

Actually, to be pedantic, the world was created in just one day.

He then spent a number of days adding the fish, and the foul, and the birds, etc.

The entire enterprise from "Let there be Light" to creating man took 6 days.
Then He rested. 😎

😆

What's a foul Mr Pedantic?

 

[Joules MM1]

The most challenging aspect for me when am trading in the forex market is that i would not be able to manage the money efficiently sometimes that i tend to lose the money.

that would apply to any auction process.......

next step define, what is managing money......soon as you clearly define this your management should get correct focus......stop trading until you do this....

 

[Babyblush]

The most challenging aspect for me when am trading in the forex market is that i would not be able to manage the money efficiently sometimes that i tend to lose the money.

 

[DitterPD]

What kind of sorcery is this? :-0

How do you reply to future messages?

P.S. It seems to me our friend, Mightypen is quoting something..

 

[DitterPD]

Actually, to be pedantic, the world was created in just one day.

He then spent a number of days adding the fish, and the foul, and the birds, etc.

The entire enterprise from "Let there be Light" to creating man took 6 days.
Then He rested. 😎

Why did it take him 6-7 days (doesn't matter)?

Haven't he heard to accept good enough rather than perfect? Pff..

 

[Shakone]

What kind of sorcery is this? :-0

How do you reply to future messages?

Joules MM1 is just that damn good.

Note edit time.

 

[timsk]

What kind of sorcery is this? :-0
How do you reply to future messages?

Yes indeed DitterPD, it freaked me out too when I first saw it! Then, as Shakone rightly points out - I noted the edit time. Had Babyblush posted sooner and had JoulesMM1 edited his post sooner, then the tell tale 'last edited' automatic notification might not be there to explain how it was done! A slight shame really, as a little mystery about how it was achieved would have been fun!
😎
Tim.

 

[aag100]

Bloody hell, the world was created in 7 days?

it might have been better created over 7 days rather than getting complacent after 6 and resting on the 7th

 

[Joules MM1]

Joules MM1 is just that damn good.

Note edit time.

😏 .....just when i thought i could off-load my unusable 1943 future machine (1 of only 89 ever made)

 

[ndnole]

What would be you kryptonite of trading?

Finding broker that does not widen spreads at an opportune time for them. no way to really practice a strategy if you know demo is nothing like live. That has been the hardest part for me. I still use demo to master my process but now that I have done so I am having a difficult time going live until I can find a platform that will give me a decent shot at fairness and not the outright robbery that a lot of forex venues are

 

[FDateTrader]

Most Challenging for me...

Even after 25+ years of trading, I still have a difficult time staying the course with all the contracts I put on. As I see profits accumulate, although I'll move my stop-loss to protect, sometimes I just can't resist taking some of the contracts off the board (cash in).

While I know some of you may think this is a good thing, it really is a weakness for me. Since I already have my stops in place, let it ride and let the market take you out. Yes I know that some strategies call for taking off part of the position and letting the rest ride. But this is not the method I have chosen and so is not the reason why I at times pull some off. Bottom line, I never did like giving 'any' profit back, though this is to be expected when using a trailing stop method.

It's my curse. 🙂

 

[Purple Brain]

Staying sharp for the entire trading day.

 

[DitterPD]

Oh, didn't notice that.

Thank you Shakone & timsk, now I can go on with my live peacefully.

 

[AshleyTrader]

I take my profits too early so often! Just like FDateTrader mentions.

 

[Wolfgang27]

My passion for trading exotic pairs. I can go up 100 pips on USDJPY and GBPUSD and lose 150 on INRNZD or something like that

 

[aag100]

1)not cutting my losses.
2)not getting out when the bias changes.i enter a position usually on the right side of the bias and one of two things usually occur 1)the position goes against me for a few points but thats ok because you cant call the exact top or bottom.then it continues up and down for what can feel like ages(might only be a few mins).then it starts to come my way and im nearly break even and all of a sudden the bias changes.now i should get out with a small loss but having invested time/effort/energy i dont want to cut in the red i want atleast the tiniest of a win if not BE.then
it starts to go away from me until it becomes infuriatingly maddening and i finally bring myself to cut it(if im smart for 10-20 points and when im stubborn can be anything upto 200)
or scenario 2)i enter on the right side of the bias and can take a quick few points just as the bias changes.but i think i should give it more time to breath.then i watch as the few points profit turn into a loss until im able to bring myself to cut it again.
sometimes i take the odd few points repeatedly which i find just as maddening.so perhaps i should bring myself to do just that and keep getting out when the bias changes.
anyone got any pointers on support/resistence? something else that is annoying.always seem to do what i dont want them to do.

 

[yellowfloyd]

As I understand you are referring to stock trading? While we are more Forex centered forum here, but anyway thanks for the input.

Forums / Methods / Psychology, Risk & Money Management /


Sorry but where you find Forex here. Also, Your question was in general. If you want get reply only from Forex traders, you should mention it.

This forum not only Forex cenctered but also CFDs, Spread betting.

 

[aag100]

Forums / Methods / Psychology, Risk & Money Management /


Sorry but where you find Forex here. Also, Your question was in general. If you want get reply only from Forex traders, you should mention it.

This forum not only Forex cenctered but also CFDs, Spread betting.

its all the same! the only difference is the price.

 

[ndnole]

The most challenging part of forex to be is choosing the right broker. I really like to emphasise this because a good broker is good profits. Brokers are numerous in the market with their customised trading policies. Therefore painstakingly distinguishing the suitable ones gives you a well distinguished profits. I checked seriously on their spreads, withdrawal and payment procedures, platforms, trading operations supported ( as regards to scalping, hedging), leverages etc. I am really surprised making good money in the forex despite not checking on the regulatory status of my broker. Well since am progressing with him, I don't see his not-under-a-regulatory-body status as dangerous.

Wait until you are making big profits and see if this remains the same. (If you arent already)

 

[ndnole]

1)not cutting my losses.
2)not getting out when the bias changes.i enter a position usually on the right side of the bias and one of two things usually occur 1)the position goes against me for a few points but thats ok because you cant call the exact top or bottom.then it continues up and down for what can feel like ages(might only be a few mins).then it starts to come my way and im nearly break even and all of a sudden the bias changes.now i should get out with a small loss but having invested time/effort/energy i dont want to cut in the red i want atleast the tiniest of a win if not BE.then
it starts to go away from me until it becomes infuriatingly maddening and i finally bring myself to cut it(if im smart for 10-20 points and when im stubborn can be anything upto 200)
or scenario 2)i enter on the right side of the bias and can take a quick few points just as the bias changes.but i think i should give it more time to breath.then i watch as the few points profit turn into a loss until im able to bring myself to cut it again.
sometimes i take the odd few points repeatedly which i find just as maddening.so perhaps i should bring myself to do just that and keep getting out when the bias changes.
anyone got any pointers on support/resistence? something else that is annoying.always seem to do what i dont want them to do.

It sounds as if you dont have a cemeted plan. Know your entry AND exit before you get into the trade. If you have a solid system just accept the few losses and be rewarded when you are right. Otherwise you will simply tread water or worse sink.