Hitting the roof as trader

Discussion in 'Forex' started by Raheel Shaikh, Oct 2, 2021.

  1. IamaMars


    Such moments are usual for every activity and the methods of dealing with them are quite universal.
    The only way out of such a situation is a thorough analysis of your trading strategy and decomposing it into many simple steps in order to track down the concrete moment which spoils everything. Otherwise, it is extremely hard to point out the exact things which should be either eliminated or modified. Later on you can experiment with your trading strategy and alter several things and see the results. Surely, it will be easier if you have a trading bot, so that the criteria for making decisions will be modified automatically.
    So, you should ask yourself 'why can't I improve my results?'. In order to answer this question, you've got to decompose your trading strategy into many simple steps and then analyse each step thoroughly.
    #21     Oct 12, 2021
  2. daxydet


    @Raheel Shaikh, the only way that the outcome of my trading results from where it was earlier and how I manage to hold on and keep pushing is that I will change my trading psychology to buying and selling currencies. I will stick to my rules and never change them.
    #22     Oct 14, 2021
    Raheel Shaikh likes this.
  3. koczeau


    I agree with you. A thorough analysis of trading strategy is the key to successful forex trading.’and the best way for this is to maintain a trading journal - and include even the minutest of details in it.
    #23     Oct 15, 2021
  4. It is always a good option to update and test your trading strategy every now and then. The market keeps changing and you will be able to do good only if your knowledge is updated and your trading strategy is capable of handling market fluctuations.
    #24     Oct 18, 2021
  5. 100% you gotta keep refining even when you have days with 100% results
    that's how you manage to stay longer term in this game
    #25     Oct 18, 2021
  6. Cannot emphasize enough on how important journaling minute details of your trades help you become a better trader
    #26     Oct 20, 2021
  7. deaddog


    How is that going to help?
    #27     Oct 20, 2021
  8. Has helped me massively in knowing my emotions, maintaining my discipline, holding myself accountable for every trade placed following my trade plan.

    Gives me a detail outlook on how my performance is with respect to day, time, market session, news, volatility, FOMO, greed and much more

    i can then sit and rectify them not only tweak and refine my trade plan but also notice those patterns while trading the markets live.

    it has literally been The Game Changer for me.
    #28     Oct 20, 2021
    NoahA likes this.
  9. deaddog


    Wouldn't a simple "did I follow my plan? check yes or no" accomplish the same thing?
    #29     Oct 20, 2021
  10. i get your point
    when you refine your trade plan and lay it down with checkboxes, its much easier to just "did i follow my plan?" and a yes and no to it
    different strategies have different way of approach
    #30     Oct 21, 2021