The Power of Doing Nothing as a Professional Trader

[iMusingKiMi]

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.

 

[ForexVerified]

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.

Waiting and searching for a good setup is still doing something.

 

[WatanFX-Rep]

Yes, one good trade a month or every 6 months does just fine.

However, repeatedly one fails to fathom is that retail forex industry works on the same mechanism as the gambling industry.

Majority of the participants entering these markets do it for the fun of it, and for quick money, not to make careers out of it.

Making a career on the buy-side in the retail space is incredibly difficult and takes years.

 

[Pharaoh]

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.

 

[WatanFX-Rep]

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.

In the long context of things, yes.

My point was that whether it is one counter-party vs the trader or a dozen counter-parties vs trader, the "added costs" of a trade on short term horizons kills all the profits, even if the trader wins 100% of the time.

100k tickets are not delivered with 0.2 pips spread, 100% of the time, so any method on short term that relies on that factor is bound to fail.

 

[margin]

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.

Its 100% true but practically its very difficult to achieve such an attitude towards forex market. It will take a lot of years as you have to go through all the rest of the methods/experience before you truly realize that less is more in forex market.

 

[EuroTrader]

Its 100% true but practically its very difficult to achieve such an attitude towards forex market. It will take a lot of years as you have to go through all the rest of the methods/experience before you truly realize that less is more in forex market.

When our trading is done with protection then we will have the opportunity to earn a good income in our trades and also this will let us get profits in our trading easily

 

[iMusingKiMi]

Waiting and searching for a good setup is still doing something.

Yeah, maybe I should agree on this. But in fact, doing nothing means they don't keep themselves always involve in the market.

 

[iMusingKiMi]

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.

As I always said, I always love Pharaoh post. Yes, some successful traders do short term and have a lot of trades per month but they know what they are doing. But a lot of people just trying to keep themselves involve in the market, because it is boring when they notice their account balance not moving. LoL.

 

[iMusingKiMi]

Its 100% true but practically its very difficult to achieve such an attitude towards forex market. It will take a lot of years as you have to go through all the rest of the methods/experience before you truly realize that less is more in forex market.

Absolutely yes and it is not easy at all to achieve such attitude. For instance, many newbie or inexperience trader easily get excited when a 10-15 pips move in a direction and get themselves in just because they worry they got missed out from the party. But in fact, 10 - 15 pips move in 1 direction doesn't mean a trend occurs.