Change your trading properly
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  1. #1
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    Change your trading properly

    Hi everybody.

    Did you think about improving your trading?
    I mean trading, not your knowledge about markets. Knowledge is one piece of a puzzle, your actions will create you profit or loss.

    In this post I've made classifcation of phases that every trader goes through.

    So the main obstacle is to make transition from phase 3 to phase 4.

    I've written before that trader should take 100% responsibility for his decisions and face truth about himself, but let's say you know that truth. You know what to change. Can you stop doing that?

    Not at all!

    You should initiate and maintain process of change.

    It's more tough then it seems and it explains such poor overall result (70% of traders lose money, 20% can't keep profits and make breakeven, just 10% are profitable).

    In this post I will share with you some ideas from professional coaching, that will help you boost your performance.


    There are several core principles, that will help you change properly:



    1. Work on just one issue at a time

    Common mistake occurs when person tries to work on everything.
    It doesn't work. It will create chaos and keep you less focused.


    2. Set short-term goals

    Set yourself weekly goal and work on it.
    For example - this week I'm working on my skills of selecting good trading locations e t.c.


    3. Maintain problem solving approach

    It's impossible to improve focusing mostly on what you are doing wrong.
    But it's easier to focus on harmful actions rather then on effective actions.

    Neuropsycologists call it "negativity bias". Our brain was "designed" to aboid bad not focusing on good.
    This imbalance should be eliminated.

    That's why it's necessary to praise yourself for what you've done right today.


    to be contiuned...

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  2. #2
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    There is a lot of way to trade. But I like trade in only one way. It is long trade. So I follow the proper support and resistance from the D1 time frame. I think long trade is very safe for our trade.

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    I have a good trading system which gives me more and more money in forex trading market , so for proper earning in this market, we must have a good trading plan otherwise we cannot able to maximize our profits and minimize our loss in this market.

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    Registered user alv_trader's Avatar
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    Quote Originally Posted by Value trader View Post
    1. Work on just one issue at a time

    Common mistake occurs when person tries to work on everything.
    It doesn't work. It will create chaos and keep you less focused.
    I can't wait for the detail explanations about the first rules. I think you're right, studying one sciences and in depth is better than we learned a lot of knowledge but never managed to master it. So how does the first topic affect on forex trading?

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    Quote Originally Posted by alv_trader View Post
    I can't wait for the detail explanations about the first rules. I think you're right, studying one sciences and in depth is better than we learned a lot of knowledge but never managed to master it. So how does the first topic affect on forex trading?
    Let's say you've made some research and recognized that you should work on your behavioral issues in trading, you can create a short-list.

    For example:

    1. Eliminate revenge trades.

    2. Place stops correctly.

    3. Don't leave money on the table


    But it's negative, I would suggest first to make it positive:


    1. Change your perspective after losing trade and stop doing anything for a while

    2. Choose reasonable stops

    3. Let your profits run - make your perspective wider

    Now you can work on these three goals, but not simultaneously.

    For example, you take one goal on work on it within 1 week (letting your profit run for ex.)

    Set your own scale from 0 to 10, and estimate every day - have you achieved your goal?

    When you are holding above 8, you may go on and work on another goal

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    Quote Originally Posted by RainFall View Post
    There is a lot of way to trade. But I like trade in only one way. It is long trade. So I follow the proper support and resistance from the D1 time frame. I think long trade is very safe for our trade.
    My advice, business requires mental and high motivation to survive, because this business is a tough business to run, once many obstacles or things that should we face, we learn all the time, we might not be able to survive in forex if we do not have a high willingness to progress your trading, there you quickly eliminated from the world of forex

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    I think i cannot want to change my trading styles because i have many good strategies and many good systems which can help me in trading and i can be able to earn through the market , your guide is very much helpful and good for thr beginners,.

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    Quote Originally Posted by frox_lionz View Post
    Only risk 1-2% per trade. The reason is simple at some point in time it is a statistical possibility that you could have 5-10 losers in a row
    Risking only 1-2 % of our capital will actually reduce our potential of earning in Forex and will also make me bored. I prefer to risk up to 20 % of my capital depending upon my conception about the trade. This helps me to earn good profits by considering the safety of my capital.

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    Actually in that changing market every trader should change his strategy... Cause market movement is not same for all time... In that market here is needed perfect strategy to get profit... So of course a trader has to take perfect decisions to chose the perfect strategies to make profit.. it's really very essential for every trader..

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    in my strategy all your mentioned principal contains. but in my strategy when my capital is increase then i believe in long term trades. because long term trades are very secure and give much profit as compare to short term trades.and your right one time we should focus only one problem and try to solve it because when we open useless trades it contains many problems and we never solves all of our problems or any problems with confidence.

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