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I figured it out. Trading is simple!!!!

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  #1  
Old 24-08-2009, 19:37
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Default I figured it out. Trading is simple!!!!

Develop a strategy or get one from a guy like Ash and trade it consistently. That's it!!!

The hard part is to do it consistently. The hard part is to watch your stop loss being approached and still letting the trade ride, because maybe it will not be hit and the trade will go on to hit the profit target.

The hard part is to not "change your strategy" on a trade that is in progress.

Last edited by Henry; 24-08-2009 at 20:25.
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  #2  
Old 24-08-2009, 21:58
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Take heed guys and girls and don't laugh. This took me 5 years to figure out. :cool:
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  #3  
Old 24-08-2009, 22:11
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Quote:
Originally Posted by Henry View Post
Develop a strategy or get one from a guy like Ash and trade it consistently. That's it!!!

The hard part is to do it consistently. The hard part is to watch your stop loss being approached and still letting the trade ride, because maybe it will not be hit and the trade will go on to hit the profit target.

The hard part is to not "change your strategy" on a trade that is in progress.
If only it were as simple as you make it sound!
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  #4  
Old 25-08-2009, 00:07
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Originally Posted by AshFX View Post
If only it were as simple as you make it sound!
What complicates it then? It gets difficult when there are subjective opinions involved. Look at your system. It's clear cut and it works. The key lies in the system and it's execution. One gets many complex systems, but do they really bring in more pips than yours?
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  #5  
Old 25-08-2009, 06:51
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Henry, it sure sounds easy, but i'd lik to know wat strategy u combine wit Ash system.

I incorporated EMAs n ADX and its worked so far, still testing.

Ash, thanks alot for this system, being getting your mails since Fx-moments started, u n ur team has somehow kept me going in fx.

:)
YT
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Old 25-08-2009, 15:14
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Originally Posted by Leshyne View Post
Henry, it sure sounds easy, but i'd lik to know wat strategy u combine wit Ash system.

I incorporated EMAs n ADX and its worked so far, still testing.

Ash, thanks alot for this system, being getting your mails since Fx-moments started, u n ur team has somehow kept me going in fx.

:)
YT
How many more pips does this complication bring in? Once other indicators are brought into play, it bring subjectivity into a system that is great by itself and that causes stress and makes forex difficult from a technical point of view, while the psychology is the only difficult part - a very very difficult part. :D
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  #7  
Old 26-08-2009, 06:04
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I agree with Henri here : The most difficult part is the emotional part.
Greed and fear are your worst enemies.
Patience and discipline are your best friends.

Saruman
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Old 26-08-2009, 09:36
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We have been conditioned that money does not grow on trees. It requires a good education, hard work and maybe some luck. The forex market holds the potential to lots of money, but are you worth a $100 000 per month? If your self image is that of a $5000 per month guy, you will not make that $100 000 per month and even if you do, your subconscious mind will find a way to give it back to the market.

I think that is the biggest challenge that we face as potential traders. We need to re-program our minds and get a picture of a $100 000 pm guy/girl printed into it.

(Proverbs 23:7) For as he (man) thinketh in his heart, so is he...

Last edited by Henry; 26-08-2009 at 09:39.
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  #9  
Old 26-08-2009, 16:59
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Originally Posted by Henry View Post
What complicates it then? It gets difficult when there are subjective opinions involved. Look at your system. It's clear cut and it works. The key lies in the system and it's execution. One gets many complex systems, but do they really bring in more pips than yours?
The thing is, the system only works if you apply reasoning behind each trade setup. One can't just blindly enter every trade the system produces. This is why I don't believe in EAs. Rather, you have to look at price action, support and resistance, fibonacci, fundamentals. Indicators on their own won't make you millions, in fact they'll make you pretty much jack all. Plus as others have mentioned, the system is only part of it, many traders just can't hack forex because they don't have the temperament, losing out to factors such as hope, fear, greed, etc...

I'm not sure how long you've been a member, but if you go back through the forum you'll see there were some horrible trades that were taken by me and others. Bad months will and do occur.
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Old 27-08-2009, 17:35
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The thing is, the system only works if you apply reasoning behind each trade setup. One can't just blindly enter every trade the system produces. This is why I don't believe in EAs. Rather, you have to look at price action, support and resistance, fibonacci, fundamentals. Indicators on their own won't make you millions, in fact they'll make you pretty much jack all. Plus as others have mentioned, the system is only part of it, many traders just can't hack forex because they don't have the temperament, losing out to factors such as hope, fear, greed, etc...
I agree with you Ash. Let's suppose you have a genie that gives you the trades with 100% accuracy. Will you still make it in Forex? How about 90% or 70%?

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I'm not sure how long you've been a member, but if you go back through the forum you'll see there were some horrible trades that were taken by me and others. Bad months will and do occur.
Bad months (losses) is a cost of doing business. They will happen, but can your trading balance handle it? Can you handle it psychologically?

Last edited by Henry; 27-08-2009 at 17:38.
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  #11  
Old 28-08-2009, 19:41
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Originally Posted by Henry View Post
Develop a strategy or get one from a guy like Ash and trade it consistently. That's it!!!

The hard part is to do it consistently. The hard part is to watch your stop loss being approached and still letting the trade ride, because maybe it will not be hit and the trade will go on to hit the profit target.

The hard part is to not "change your strategy" on a trade that is in progress.
Hi Henry,

Nine months ago I didn't know what a short was...but I spent the last 270 days moving up the learning curve. Its a nice feeling to be able to measure progress. I think trading is hard and easy...in my life I've learned that to make the hard part easy one must attain "Effortless Mastery" which in FX means pick --a strategy-- and learn every aspect of it to the point that it is as effortless to utilize as it is for you to breathe.

I love this quote "Winning isn't everything, its the only thing"
-Vince Lombardi-

Webster
E$P$
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Old 28-08-2009, 19:59
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Originally Posted by Webster View Post
Hi Henry,
I think trading is hard and easy...in my life I've learned that to make the hard part easy one must attain "Effortless Mastery" which in FX means pick --a strategy-- [COLOR="Red"]and learn every aspect of it to the point that it is as effortless to utilize as it is for you to breathe.[/COLOR]

Webster
E$P$
I could not have said it any better. I would like to draw a comparison between trading and a doctor in an ER. He knows exactly what to do at all times and he does it. It becomes part of his being, allmost part of his DNA. He knows how to handle what comes his way. If he does not, he stays out of it and get someone who can.

But remember, he spent years in formal training and some more in the real world where the action is. Handling emergencies is allmost "inborn".

This is the same way we need to approach the market, only we need a different set of skills. :D Most of the skills we need, I think is psychological as systems and strategies are a dime a dozen.

Last edited by Henry; 28-08-2009 at 20:01.
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  #13  
Old 31-08-2009, 08:46
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Originally Posted by Henry View Post



Bad months (losses) is a cost of doing business. They will happen, but can your trading balance handle it? Can you handle it psychologically?
Can your trading balance handle it? => YES, if your leverage is realistic, and you have a money management that can help you reduce the risk.

Can you handle it psycholgically? => NO, in 95% of the cases. Only those who can set their emotions aside, and trade with absolute confidence, can handle it. In order to get in that emotional state, where you can handle risk, I believe that every trader has to go through a rough period, and experience the emotion of losing. Only then will he make the promise of never having that experience again, and really work on that money management.

No pleasure without the pain !! :D

Saruman
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  #14  
Old 15-09-2009, 11:42
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its so easy to move from one system to another when you hit a losing trade, def best to stick to one or two and perfect them... they say if you have the 'edge' then you will always come out on top... eventually! :)
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  #15  
Old 17-09-2009, 15:20
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Originally Posted by Saruman View Post
I agree with Henri here : The most difficult part is the emotional part.
Greed and fear are your worst enemies.
Patience and discipline are your best friends.

Saruman
I agree, always set yourself limits (stop loss and take profit)
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