trumpeter
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How many strategies does the market need?
Something I have never understood. If you trade eg EURUSD, then why would every individual trader need their own strategy. We're dealing with one market. There should be one strategy for this market that will make it profitable for the trader, regardless who it is.
I've never understood why trader personality becomes involved! There should be one optimized workable strategy, that will make money when trading a specific currency. Yeah, I already know the answer, it is an "art form". Bull. The market has a pattern. Any trader should be able to use this pattern that the market is exhibiting, and profitably trade accordingly. Why does this require my personality input?
If one watches price movement, just tell me what kind of movement will precede the next price. Actually, no one knows, which is why we have to talk about probabilities.
Tell me what is the price pattern that gives me a clue as to price direction, or not, and all of us can trade profitably.
I never get straight answers. We are always given a multitude of choices
What is difficult for me to swallow, is all of us traders each need our own methodology. But we all see the same charts, and price movement!!
I keep hearing that we all need to arrive the hard way by applying our own personal trading method. This is just a smoke-screen for the experts, in that they really don't have an answer.
Basically it seems that you will never know what the market will do after you put on a position, so it is a matter of baling when losing; and deciding how much profit is enough, when winning.
I would just like to observe a very successful trader verbalize his thoughts, when he/she is doing the decision-making. By carefully listening to how this trader arrives at a decision, should be a big help.
trumpeter
Your not alone RahmanSL, the vast majority of new traders out there have difficulty with discipline and changing their thought patterns from gambler to trader.
Discipline in trading is helped by having a strategy with strict rules that you follow no matter what your "instinct" is saying to you. In fact instinct is just your ego in disguise.
I think it will do this, or I think it will do that, is just guessing and will ultimately fail.
Take off all your indicators and try to look at your charts structure, and learn how the price moves in certain ways. Identifying what the market is doing is rule N°1, trending or consolidating? only then can you start to look at the probability of something happening..... trading is all about probability, trade only with high probability and your on your way to making this work.
Something I have never understood. If you trade eg EURUSD, then why would every individual trader need their own strategy. We're dealing with one market. There should be one strategy for this market that will make it profitable for the trader, regardless who it is.
I've never understood why trader personality becomes involved! There should be one optimized workable strategy, that will make money when trading a specific currency. Yeah, I already know the answer, it is an "art form". Bull. The market has a pattern. Any trader should be able to use this pattern that the market is exhibiting, and profitably trade accordingly. Why does this require my personality input?
If one watches price movement, just tell me what kind of movement will precede the next price. Actually, no one knows, which is why we have to talk about probabilities.
Tell me what is the price pattern that gives me a clue as to price direction, or not, and all of us can trade profitably.
I never get straight answers. We are always given a multitude of choices
What is difficult for me to swallow, is all of us traders each need our own methodology. But we all see the same charts, and price movement!!
I keep hearing that we all need to arrive the hard way by applying our own personal trading method. This is just a smoke-screen for the experts, in that they really don't have an answer.
Basically it seems that you will never know what the market will do after you put on a position, so it is a matter of baling when losing; and deciding how much profit is enough, when winning.
I would just like to observe a very successful trader verbalize his thoughts, when he/she is doing the decision-making. By carefully listening to how this trader arrives at a decision, should be a big help.
trumpeter