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Modification in trading habits to start being profitable
I learned that doing things "differently" is a double edge sword in that changing anything too often will keep you on the losing side . But , when you are on the consistently losing side you do have to change things , the trick is knowing "what" to change . I found , after trying everything , that just accepting the fact every trade wont win and every trade wont lose helped the most towards keeping me on the winning side . Then , provided you can identify a statistically profitable edge you are capable of trading , stop changing anything at that point . Trade that edge through thick and thin no matter and believe it or not - you will succeed .
Also, finding that "statistically profitable edge" is easier than it sounds . What I found is that the simplest ideas work the best and ONLY IF YOU FOLLOW IT ACCORDING TO YOUR RULES WITHOUT CHANGING THE RULES .
Can you help answer these questions from other members on NexusFi?
I confess..... one of my bad habit: I'm too greedy.....
Again and again, I repeat the same error
Trade is going in my way and I kept extending my mental target.... and.... suddenly it reverse. Not a loss because I managed well my stop loss, but opportunity missed and gain slipped away.
So, like I was doing when I was young ( this is long time ago) I confess.. not the a priest, but to BM community. I confess that I'm doing wrong. I bent my head and accept the decision of the judge (market). I have to change this habit. Market broke my leg, but I'm still alive walking with crutch
What I found from watching those guys is that the teacher had created a process that worked. All that was required was fro the students to them to follow it come what may. If it did nto work on one woman they were just encouraged to move on to the next, just keep reapating the process. When they deviated they got nowhere but when they followed what they were taught they more often than not got the girl. All of the candidates found that it changed their lives.
So then I said to myself how can I apply that to my trading. I have pretty much seen all of the scenarios. So I laid them out and then said to myself which are the high probability ones. They may not come around often but when they do do they provide a result. Then all I had to do was follow that process and not deviate, if did I often got hit when I followed the high probablility ones and waited I got paid. The process is not exciting and can be considered boring whcih may have been the problem for me but I should not be trading for excitement anyway.
So in short I identified the opportunity and then waited for the pattern to emerge, then implemented the process.
What I used to do was jump in too early and did not wait for my pattern to show itself, I imposed my own thoughts and will.
It's a bit like this, when you are looking to buy a new car isn't it funny that you start to see the car you want on road all the time, they just seem to be everywhere all of a sudden. Your brain just seems to pick them out when it knows that is what you are looking for. Sure I miss trades and yes sometimes they are good moves but they are not the car that I was looking for so my brain ignores them.
My biggest mistake was that I did not trust his inner self , when I see that the market is there somewhere where I can see it.... after переосмыслевания I began to trust in yourself ,and the profits went to me in times easier than before that , all the grail's in your head
I realized that I do not know what will happen in the future - 6 months, 1 week, 1 day or even 5 min later. I no longer trade based on what I think would happen
I watched a nature program over the weekend where it showed many creatures and how they survive. In one take it showed a fish eagle hovering over the ocean waiting for a shark to attack a group of baby seals. Now the eagle knew it could not kill the seal but it knew that the shark could and that he would pick off the scraps from the sharks kill and would be able to survive from feeding of the scraps. So the intelligence was the eagle knew where to go to be fed and when to feed. Would that not be great if you too became an eagle like trader.
No, no, no .... the Eagle does not eat scraps ... the Eagle feeds on fresh kills. Although the shark kills the the seal, the Eagle is faster than the shark to take the fresh portions ... so, you're right ... be an eagle trader.
Lolu - you are right the eagle does feed on fresh kills. The smart thing is he knows where to go to be fed. He knows where the shark goes for dinner, he knows the shark will kill the seal so lets the shark do the heavy lifting and then uses his quick skills to feast on the fresh kill.
