What are your Trading Breakthroughs?

[Ansare]

Quote from NoDoji:

Interesting. Learning to buy strength and sell weakness (and it took me a couple thousand hours of meticulous research to finally trust this way of trading) was the single most important breakthrough for me and results in daily consistent profitability.

Yeah, well, I might have beaten you by about 45 minutes as far as how long it took me. But, yes, HUGE difference. I would absolutely encourage people to learn how to do it with confidence. Or without.

 

[athlonmank8]

Quote from lindq:

My greatest breakthrough came when I fully realized the value of sitting on my hands, doing nothing.

Once I gained this discipline, it helped me to stay out of impulse trades based on news events, and to give trades I was in the time they needed to develop into winners.

The old wives saying "a watched pot never boils" is a good maxim for trading

I second that. Also helps if you can focus on more that one intrument at times. Its easy to become too fixated on something.

 

[sumfuka]

Quote from NoDoji:

Interesting. Learning to buy strength and sell weakness (and it took me a couple thousand hours of meticulous research to finally trust this way of trading) was the single most important breakthrough for me and results in daily consistent profitability.

Whats even more interesting is that you have a more bearish strategy which matches up with the time you registered. And Ansare have a more bullish strategy and s/he registered during the bull market.

 

[Handle123]

Quote from athlonmank8:

I second that. Also helps if you can focus on more that one intrument at times. Its easy to become too fixated on something.

I concentrate on only one market as I don't want to be influenced by something else.

Buy the highs/sell the highs.
Sell the lows/buy the lows.

Just takes a ton of hours to learn when and ten times that amount how to get out.

Just love to play the game. Almost like a Nike commercial....

 

[failed_trad3r]

when I realized discretionary trading didn't work. it was like AHA. since most daytraders do discretionary, most daytraders lose.

 

[Redneck]

When I am wrong – I will get out, and move on

When I am in doubt – I am out

When I am right – I will sit tight


Moral of the story

Doing makes me money

Thinking, hoping, praying wishing, wanting, whatever else – does not


Btw – for anyone wondering – sitting on hands – is doing

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Patience, discipline, and focus – in vast quantities – are also necessary

Along with the ability to wash, rinse, repeat (think assembly worker-esk)

RN

 

[Rashid_G.]

Quote from NoDoji:

Interesting. Learning to buy strength and sell weakness (and it took me a couple thousand hours of meticulous research to finally trust this way of trading) was the single most important breakthrough for me and results in daily consistent profitability.

Without context you may be both saying the same thing.. You could be buying a 3 min chart high breakout in Ansare's 4 Hour chart low area..

For me it has been capitalization... enough to put stops where they SHOULD (invalidated trade) rather than to simply limit loss. Two VERY different things. If you don't have the capital find a market that suits your account.

Then simply trade S/R in bigger picture areas while favoring the higher time frame trends.

 

[piezoe]

Quote from lindq:

My greatest breakthrough came when I fully realized the value of sitting on my hands, doing nothing.

Once I gained this discipline, it helped me to stay out of impulse trades based on news events, and to give trades I was in the time they needed to develop into winners.

The old wives saying "a watched pot never boils" is a good maxim for trading

ditto

 

[ammo]

Quote from Rashid_G.:

Without context you may be both saying the same thing.. You could be buying a 3 min chart high breakout in Ansare's 4 Hour chart low area..

For me it has been capitalization... enough to put stops where they SHOULD (invalidated trade) rather than to simply limit loss. Two VERY different things. If you don't have the capital find a market that suits your account.

Then simply trade S/R in bigger picture areas while favoring the higher time frame trends.

congrats on your stop success,i find that one of the hardest,i just put them way outside

 

[murray t turtle]

Quote from mmm:

I thought it might be interesting if fellow ET members describe the ideas and realizations that have allowed them to bring their trading to the next level.

I look forward to hearing about your trading breakthroughs.

I'll start off:

Trading multiple units was a HUGE breakthrough for me.

Being able to take partial profits along the way increased the overall profitability of my trading tremendously, and boosted my trading psychology by having a larger number of small wins and fewer scratched trades.

-- M

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Rule of 72;
6 days a week work;
12 hours a day.[72=

7 years of that may help also-not a prediction