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  1. #1
    Veteran Member Dan21's Avatar

    afraid girl Do you think you've improved? !!!

    I am just curious. This is a question for those who are not newbies and have been aroun BOs for a while.

    When you remember your beginning and your first successful trades and you compare them to your recent trading, do you see a noticeable difference in your trading technique, patience towards harder positions and instruments and so on? What has improved most and what did not at all?

  2. #2
    Legendry Member Michael Hodges's Avatar
    Most definitely, the biggest things I have noticed is that I don't even have to think about money management/posisition size, it comes natural... writing my tips and keeping a trade journal/geek account on CT has also helped, I am more thoughtful in my analysis, don't let conflicting signals interfere with my analysis and have generally gotten much better using my indicators, stoch and MACD

  3. #3
    Legendry Member milos's Avatar
    As a beginner trader I have lost 30 consecutive trades. I was patient and started to learn trading tools,how to read the charts,optimal time frame expiry. I created my own trading strategy. It is needed to learn more.I also watched weekly the most important economic indicators in the euro zone,US,Canada,UK,Japan,Australia and China.I avoid to trade during the FOMC,Press Conference,Monetary Policy Statement.I'd like to trade trend correction.My favorite time frame expiry are:H1,H4,3days. Sometimes I use a week or a month expiry.I prefer to use RSI, MACD and hammer candle.

  4. #4
    Veteran Member Dan21's Avatar
    To be honest, I tried keeping a position for longer than a week and it's very hard on my mind to know (fall asleep, go to work and stuff) that my money are right now on the line.

  5. #5
    Senior Member linda_fx's Avatar
    Yes, I think I managed to conquer a lot. I am not merely the person who has that specific luck you need to have in order to gamble. That's why I had to learn the harder way. I blew a few accounts at first. My analyzis weren't always correct. News trading sort of didn't work right. Then I read a little bit of Buffett's quotes (I know he's not the same thing, but that's not the point) and couldn't get over his idea that the only way to never lose money is to just... never lose money. In other words said the only way to not close OTM trades is by simply not closing them until they become ITM. That's when I improved. Also I don't open huge positions, because if I get stuck in some awful deal a bigger position might get closed on its own faster and thus it won't wait until it gets ITM... eventually. Patience is not an easy thing to develop, but it's very important for being successful. Not only in trading, but anywhere. I mean... even if you've entered the market wrong, it's not such a big deal if you're willing to wait enough time. No movement can stick in one direction forever, right?

  6. #6
    Moderator Kolyo's Avatar
    This is a great thread which really need more attention from the traders in our community! Every one should ask himself is he really make any progress in the long run or he is sitting on one and the same place. For me I can say honestly that I moved forward and learned a lot of new things. Not all of my experience was positive, there were some mistakes in the process, but I think that the investment I made in education, learning new trading techniques, examining new markets and meeting new traders from all over the world helped me to move to a next level
    "The goal of a successful trader is to make the best trades. Money is secondary." - Alexander Elder

  7. #7
    Legendry Member Michael Hodges's Avatar
    Ha! I improved this week! The market was making me crazy going back and forth in sentiment from early rate hikes to late rate hikes to earnings recession to maybe earnings aren't gong to be that bad to the market going up to the market going down and all stuck in a range... it was making me crazy.... so I decided to step back and low and behold my headache went away and I reaffirmed what I already knew, the market is crazy, near term movement is all news and fear/greed related and to stick with my long term analysis.....

  8. #8
    Legendry Member milos's Avatar
    I'd like this thread.I only can say myself:new week new challenge.It means that I have to improve myself every week,every day,hour and minute. Watch the chart,follow news and events.

  9. #9
    Veteran Member Dan21's Avatar
    Yeah, persistance is what creates a real trader.

  10. #10
    Legendry Member Michael Hodges's Avatar
    I'm persisting in getting better, a little more each day.... ;-)

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