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csbueno
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Postby csbueno » Fri Dec 11, 2009 10:14 am

I have to share an advice.

trading is 90% a mental game. never trade with fear. be confident. have a good MM. and be disciplined.

I have to tell you this, because no matter for how long you been trading. sometimes fear gets You, and fear only atract loses. It happened to me in october. im still in profit for the whole year, but it was the worst month in a very long time.
If you dont feel 100% right, do not trade.
better be sorry for not trading than sorry for trading in a bad mood.

Carlos
Last edited by csbueno on Fri Dec 18, 2009 6:36 pm, edited 1 time in total.

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newschool
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Postby newschool » Fri Dec 18, 2009 3:06 am

No indi can predict future movements, instead, I try to go with the flow.


I believe this is important. Indicators are just a way of seeing things. The only true movement is the price movement. And that should guide your entry. I think the timing is especially important for Forex because the price is completly free compared to stocks, and can catch your SL very easily.

also csbueno, how much are you trading live?

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Postby pablo101 » Fri Dec 18, 2009 4:34 am

Carlos, where did you get 90% from? I'm not agreeing or disagreeing, I just want to know.

Its all about discipline, if you don't have the patience to wait for a high prob win low risk trade then you basically screwed from the offset, on the other hand if you don't have the killer instinct to enter a trade at the appropriate time, you'll never make money so maybe 90% could be correct :)
What line? The line that tells you which way you are trading! - MO

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Postby PTG » Fri Dec 18, 2009 6:01 am

Carlos is right.

It's 10% system, 45% psychology and 45% risk management, but the risk management comes down to psychology as well.

Patience, discipline and risk management.
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Postby vladv » Fri Dec 18, 2009 10:28 am

Thanks for sharing your system,csbueno!

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csbueno
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Postby csbueno » Fri Dec 18, 2009 6:30 pm

pablo101 wrote:Carlos, where did you get 90% from? I'm not agreeing or disagreeing, I just want to know.

Its all about discipline, if you don't have the patience to wait for a high prob win low risk trade then you basically screwed from the offset, on the other hand if you don't have the killer instinct to enter a trade at the appropriate time, you'll never make money so maybe 90% could be correct :)



What I mean, is FX is mostly a mental game, call it 51%, 75% , 90%.

If you put a very tight Sl (Fear) you are gonna get stopped very often, and with a very big Sl,(also fear) you may not get many Sl, but enough to kill your account.

Also, when suffering a loss, the natural instint, is to recover that loss right away , even if there are no conditions to trade. but with the right state of mind, You will forget about it and wait for an apropiate trade set up.


There are many examples of when a trading method is not correctly applied out of internal distractions.

I think the right term here, is " only fools rush in"


Regards
Carlos
Last edited by csbueno on Fri Dec 18, 2009 6:49 pm, edited 1 time in total.

csbueno
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Postby csbueno » Fri Dec 18, 2009 6:43 pm

newschool wrote:
No indi can predict future movements, instead, I try to go with the flow.


I believe this is important. Indicators are just a way of seeing things. The only true movement is the price movement. And that should guide your entry. I think the timing is especially important for Forex because the price is completly free compared to stocks, and can catch your SL very easily.

also csbueno, how much are you trading live?




I dont mean to be rude, but I dont like to tell people how much I trade.
But it is a very reasonable ammount.


Regards
Carlos

csbueno
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Postby csbueno » Fri Dec 18, 2009 6:47 pm

PTG wrote:
Patience, discipline and risk management.



100% spot on (why do I keep using percentages? LOL)

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Postby PTG » Fri Dec 18, 2009 6:59 pm

csbueno wrote:
pablo101 wrote:Carlos, where did you get 90% from? I'm not agreeing or disagreeing, I just want to know.

Its all about discipline, if you don't have the patience to wait for a high prob win low risk trade then you basically screwed from the offset, on the other hand if you don't have the killer instinct to enter a trade at the appropriate time, you'll never make money so maybe 90% could be correct :)



What I mean, is FX is mostly a mental game, call it 51%, 75% , 90%.

If you put a very tight Sl (Fear) you are gonna get stopped very often, and with a very big Sl,(also fear) you may not get many Sl, but enough to kill your account.

Also, when suffering a loss, the natural instint, is to recover that loss right away , even if there are no conditions to trade. but with the right state of mind, You will forget about it and wait for an apropiate trade set up.


There are many examples of when a trading method is not correctly applied out of internal distractions.

I think the right term here, is " only fools rush in"


Regards
Carlos


A (as in "one") trade will only kill your account if your position sizing, s/l size and expected reward based on sound reasoning (supply/demand, mtf analysis) don't match. Trade your plan, plan your trade.
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Postby PTG » Fri Dec 18, 2009 7:02 pm

csbueno wrote:
PTG wrote:
Patience, discipline and risk management.



100% spot on (why do I keep using percentages? LOL)


No idea :shock: :lol:
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