tips for become a good trader?

[deaddog]

The meaning of what I was saying before was: " Focus on what makes money" not on a so called successful trade, that results in loss: A loss should never be accepted as a good trade.
The right mindset is what makes a difference, just saying.

Good trades!

I focus on the process. Losses are inevitable, I really don't think they can be avoided.

Don't beat yourself up over a loss by calling it a bad trade. You can't possibly know or control what the market does. You have to control what you do. Taking a small loss is usually the correct move, and you shouldn't label a correct move as bad. It messes with your mind.

 

[Fonz]

I focus on the process. Losses are inevitable, I really don't think they can be avoided.

Don't beat yourself up over a loss by calling it a bad trade. You can't possibly know or control what the market does. You have to control what you do. Taking a small loss is usually the correct move, and you shouldn't label a correct move as bad. It messes with your mind.

We just have a very different approach. I am results driven and I focus on my 10% best and my 10% worst... Results.
My goal I to make money, not to make good trades.

I understand the appeal of the "process mindset". This is a way of keeping emotion "under apparent control".
I feel the plaisir of winning and the pain of losing money. I see the whole market as emotions from emotional humans and bots programmed by emotional humans.
We are a very small rational thing based on a top of so many emotions.
Embracing our emotions in a conscious way and learning how to use them is called "rational emotions".

Perhaps what messes with minds is thinking of being right, when losing money?

 

[radex78]

Trading always involves risk in every single trade, maybe not all trader will have the good qualification to become good and profitable trader, and all good trader usually has strong psychology and have the courage to make a decision by confidence but not overconfidence.

 

[easymon1]

Hello, i am a rookie to trading in forezx and what to seriously start with it.
Now i'm asking for some tips to get started and now the basics.Maybe some kind of courses you followed to recommend to me.
Thanks in advance

Look into the information that the internet puts at your fingertips.
Many of the sponsors of this very website have some excellent information, tips, tricks, and traps. Start a notebook and study at a level and intensity that matches your expectations.
You may face some stiff competition. Just sayin.

Here's a screenshot of one of the sponsor's education tab:
hmmmmm

Hello, i am a rookie to trading in forezx and what to seriously start with it.
Now i'm asking for some tips to get started and now the basics.Maybe some kind of courses you followed to recommend to me.
Thanks in advance

 

[Joculator]

We just have a very different approach. I am results driven and I focus on my 10% best and my 10% worst... Results.
My goal I to make money, not to make good trades.

I understand the appeal of the "process mindset". This is a way of keeping emotion "under apparent control".
I feel the plaisir of winning and the pain of losing money. I see the whole market as emotions from emotional humans and bots programmed by emotional humans.
We are a very small rational thing based on a top of so many emotions.
Embracing our emotions in a conscious way and learning how to use them is called "rational emotions".

Perhaps what messes with minds is thinking of being right, when losing money?

How do you manage that? Whenever I lose a trade I feel so disappointed and it gets hard to focus on the next trade. I always wish to be right which definitely is not possible. I’ve learnt that shifting your focus from making to learning helps. Don’t you feel the same way when you are concerned about the results?

 

[Fonz]

How do you manage that? Whenever I lose a trade I feel so disappointed and it gets hard to focus on the next trade. I always wish to be right which definitely is not possible. I’ve learnt that shifting your focus from making to learning helps. Don’t you feel the same way when you are concerned about the results?

I focus on the best 10% with one goal: Being able to replicate the same trades, during the same context, with at least the same results.
I also focus on the worst trades, to be sure I understand why they didn't work: I don't want to make the same mistakes.

I am always concerned about the results as I trade real money, I win and lose $$$.

 

[deaddog]

I also focus on the worst trades, to be sure I understand why they didn't work: I don't want to make the same mistakes.

I am always concerned about the results as I trade real money, I win and lose $$$.

Can you walk us through a couple of mistakes and what you learned?

 

[Leob]

I focus on the best 10% with one goal: Being able to replicate the same trades, during the same context, with at least the same results.
I also focus on the worst trades, to be sure I understand why they didn't work: I don't want to make the same mistakes.

I am always concerned about the results as I trade real money, I win and lose $$$.

All the best Mr. Fonz.
This work to locate the best of the best is really the next level.
Good luck

 

[reecerispoli]

Trading is kind of a risk management business so it is necessary to keep the trade size small. It is important to have a strategy and more important is to backtest it. Once your strategy proves to be profitable you can start trading with the real money keeping the trade size small.

Trading requires patience and persistence more than knowledge. You may have knowledge but if you are not persistent or patient then you won’t be able to become a successful trader.

Patience is a must and keep testing strageties

 

[Fonz]

Can you walk us through a couple of mistakes and what you learned?

FED Days:
I use to lose and to lose big, especially during FOMC meetings. So, at first I just turned off my trading station during those days. The immediate result was more profit and less drawdown for the week.
Then, I observed, recorded the days (with Multicharts) and paper trade during this recorded days.

The usual belief for intra day traders during super slow moves before announcement and huge nervousness right after, is if you really want to trade these days, you should use large stops.

In fact, nothing scientific, I just wait after the announcement for a strong momentum and I use larger targets and more tight stops (not larger).