The Power of Doing Nothing as a Professional Trader

[SnakenSnack]

Maybe someone will say the title is weird, and I would like everyone to share their thinking about the title. Don't believe it works? To me, this works absolutely great.

Why newbie always loss? Usually they are looking for excitement instead of profit. They always try to stay in the market and looking at the price ticking up and down.

But the fact is best setups are rare, extremely rare. How many trades do you need to take per month in order to make good money? If a best setups comes, even 1 trade will make you good money. The more trade or the more money you expose in the market, the more risk and more chances for you to make mistakes. Most trader including myself trade more than once in a month and this is a very hypothetical example.

Believe me, being picky will save you a lot of money.

PS: Share me your view or idea.[/QUOTE

Maybe someone will say the title is weird, and I would like everyone to share their thinking about the title. Don't believe it works? To me, this works absolutely great.

Why newbie always loss? Usually they are looking for excitement instead of profit. They always try to stay in the market and looking at the price ticking up and down.

But the fact is best setups are rare, extremely rare. How many trades do you need to take per month in order to make good money? If a best setups comes, even 1 trade will make you good money. The more trade or the more money you expose in the market, the more risk and more chances for you to make mistakes. Most trader including myself trade more than once in a month and this is a very hypothetical example.

Believe me, being picky will save you a lot of money.

PS: Share me your view or idea.

I believe.

 

[iMusingKiMi]

As I said, best setup come rare, extremely rare and I think you got it. And that's why you show me the screenshot.

 

[SnakenSnack]

As I said, best setup come rare, extremely rare and I think you got it. And that's why you show me the screenshot.

it still 7/10 winning rate..and 1:2 ratio lot of risk. I believe what u said its possible.

 

[EuroTrader]

it still 7/10 winning rate..and 1:2 ratio lot of risk. I believe what u said its possible.

We cannot say truly what is a winning trade unless we have closed that trade in the profits. Also we have to know that a loss can drain down the profits we have already earned

 

[iMusingKiMi]

We cannot say truly what is a winning trade unless we have closed that trade in the profits. Also we have to know that a loss can drain down the profits we have already earned

Yeah, I agree with you but if he has a strategy for trailing, I believe locking a profit maybe could take down the risk as well. Many trader hope to have the full move, but actually even trailing need to have a good strategy to determine how we lock our profit or at least minimizing our risk.

 

[Froso@FXNET]

Yeah, I agree with you but if he has a strategy for trailing, I believe locking a profit maybe could take down the risk as well. Many trader hope to have the full move, but actually even trailing need to have a good strategy to determine how we lock our profit or at least minimizing our risk.

Yes, it can be done bro. Because the trailing, the profit can be secured properly. Furthermore, when the price reverses, then the profit has been obtained.

 

[Whitesnake]

Some successful traders do short term trades and can take many trades per month. If a trader is consistently profitable, it doesn't matter if it's 1 trade ever 5 minutes or 1 trade every 5 months.

Where many traders fail is when they get an itchy trigger finger. They are too busy choosing short vs. long or timing an entry to realize that in many cases, the best decision for the situation is no trade.

Yes and this itch can cost you a lot of money as well I have been the victim of over trading and being greedy as well.

 

[5SSFX]

We cannot say truly what is a winning trade unless we have closed that trade in the profits. Also we have to know that a loss can drain down the profits we have already earned

I would disagree.

I would say trades should not be assessed by the outcome of them but rather the probability of success and the RR ratio going in.

For an extreme example, by your logic a strategy that worked 90% of the time, the odds would say you can lose 10 in a row and then win the next 90.

They 10 losses would not be "bad" trades and it would be a mistake to judge the profitability of the trading method based on them rather than the overall probability.

 

[SnakenSnack]

I would disagree.

I would say trades should not be assessed by the outcome of them but rather the probability of success and the RR ratio going in.

For an extreme example, by your logic a strategy that worked 90% of the time, the odds would say you can lose 10 in a row and then win the next 90.

They 10 losses would not be "bad" trades and it would be a mistake to judge the profitability of the trading method based on them rather than the overall probability.

But win/loss need at least 50/50 with RR 1:2 min.. I've been using this strategy so far okay, I reduced time watching chart and the psychology + I only need to watch only when fundamental news come out. for me its okay with me because for someone who's economic blind.
This month eur/aud this month I make 2 entry and manage to get 700pips..

 

[downtrend]

Waiting too long for a good setup requires a huge account as your trading capital, making 2 to 3 trades per month will be enough for your monthly expenses is what can make you wait for perfect setups. But with small account you will definitely be looking for at least 10+ trades. The problems rises here.