How to fix stupid?

bookish said:
Please.
More...

Been there...

- You have to do an assessment of yourself to determine what kind of trader you are and develop a trading plan that YOU can stick to.
- Trade specific setups.
- Trade a higher timeframe if your win% isn't where it should be to reduce noise and get better signals/setups.
- Keep a log so you have data to look at.
- Trade a sim account until you've figured out what works.

I started in a prop shop trading equities and they encouraged scalping. Moving to FX, it was difficult for me to get away from that mindset and found myself trying to trade my setups on the shortest timeframes (thinking I'll add up smaller wins while keeping my losses tight). I'd justify positions by setting tight stops and my win% was terrible. Doing the above showed me (after brutally banging my head against a wall with the old habits) that higher timeframes and patiently awaiting MY setups was far far more profitable, and my trade logging was much easier as I didn't have dozens of trades each day to try and log. The data helped me realize that what I'd been doing previously was just a huge waste of my time. At that point I began to see success.
 
cheddar_bob said:
Been there...

- You have to do an assessment of yourself to determine what kind of trader you are and develop a trading plan that YOU can stick to.
- Trade specific setups.
- Trade a higher timeframe if your win% isn't where it should be to reduce noise and get better signals/setups.
- Keep a log so you have data to look at.
- Trade a sim account until you've figured out what works.

I started in a prop shop trading equities and they encouraged scalping. Moving to FX, it was difficult for me to get away from that mindset and found myself trying to trade my setups on the shortest timeframes (thinking I'll add up smaller wins while keeping my losses tight). I'd justify positions by setting tight stops and my win% was terrible. Doing the above showed me (after brutally banging my head against a wall with the old habits) that higher timeframes and patiently awaiting MY setups was far far more profitable, and my trade logging was much easier as I didn't have dozens of trades each day to try and log. The data helped me realize that what I'd been doing previously was just a huge waste of my time. At that point I began to see success.
More...

The hell you going about, dude?

The guy asked a question so nonsensical in the Psycho section to warrant nonsensical responses. Why do you think it has anything to do with trading?

Allow the folk to formulate a proper question, before you waste your energy answering a question that has nothing to do with trading. He could be asking about fixing stupid in the military, or religion, or music.

Don't feed the dumb-asses, please.
 
themickey said:
Well you can but it's mainly only a small incremental gain, people born into dysfunction have a mountain to climb and it can take several generations unless they get lucky.
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%%
Mount McKinley[USA] looks pretty easy on my map/LOL.[Also called Churchill Peaks, after UK statesman, Win Churchill]. NOT a prediction ,nor the highest mountain anywhere. Plenty of mountains higher in Andes/Argentina/Chili. Cool.:cool::cool:
 
cheddar_bob said:
Been there...

- You have to do an assessment of yourself to determine what kind of trader you are and develop a trading plan that YOU can stick to.
- Trade specific setups.
- Trade a higher timeframe if your win% isn't where it should be to reduce noise and get better signals/setups.
- Keep a log so you have data to look at.
- Trade a sim account until you've figured out what works.

I started in a prop shop trading equities and they encouraged scalping. Moving to FX, it was difficult for me to get away from that mindset and found myself trying to trade my setups on the shortest timeframes (thinking I'll add up smaller wins while keeping my losses tight). I'd justify positions by setting tight stops and my win% was terrible. Doing the above showed me (after brutally banging my head against a wall with the old habits) that higher timeframes and patiently awaiting MY setups was far far more profitable, and my trade logging was much easier as I didn't have dozens of trades each day to try and log. The data helped me realize that what I'd been doing previously was just a huge waste of my time. At that point I began to see success.
More...
%%
THAT is one of the best ways to fix stupid.............................................................
Other ways include, but not limited to desires; my old CPA loves to work + study numbers like rows of numbers , like bid/ ask spread.
Me, i like candle charts much more.:caution::caution:
 
If you have worked out your trading strategy well, described it very accurately and, according to statistics, received more profitable trades, stupidity will cease to matter. Because trading is automatic. You don't need to think.
 
You can't fix stupid in some people. Have to deal with it every single day in the form of constant nagging & verbal abuse.

Some grow out of it. While others are the way they're - til the day they die!
 
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