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14/57
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If ideas mattered, we would all be rich and thin’. I heard that quote once and it stuck with me. Think about all the overweight people around you constantly struggling to control their weight. Don’t these people know how to lose weight? Eat less then you consume. Get off that couch and workout. It’s not rocket science. Yet they don’t do it. Ideas or knowledge are not the problem here. Discipline is.
There are no Secrets
When I first started trading I read all the books I could find on the topic. I backtested all these different systems trying to find my ‘holy grail’. Yet I was losing money. I kept jumping from system to system or trying to improve a perfectly good trading strategy.
Several years and many mistakes later I started to develop the skill that is (in my opinion) the key to being a profitable trader. That skill isn’t programming or backtesting in a futile search for the perfect system. I didn’t figure out a new revolutionary way to look at the market. I developed discipline.
DALBAR Studies Show Investor Underperformance
Take a look at our next picture. This is from the famous DALBAR studies. It compares the returns of the typical investor versus the respective benc…
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mcquak avatar
mcquak 13 Sep.

Great article, thanks for the information and effort!

chytry_dziad avatar

very nice

brilliant avatar
brilliant 17 Sep.

very good

CLACCD avatar
CLACCD 18 Sep.

Great work

olya2517 avatar
olya2517 22 Sep.

very good

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6/46
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INTRODUCTION

There are vast amounts ofdifferent great opportunities for traders: demo contests, real contests, live TV, forums and so on. I do firmly believe that one important key for every trader, is to be part of a group where everybody has the very same insight: grow and have profits.
CORE CONCEPT
Everyone of us is used to trade byhis/her own, also because of some wrong beliefs that brokers are against our accounts, and that there's a misterious hand moving market against our strategies causing losses. Furthermore, try to consider HOW MANY TIMES losses are done because of stupid decisions taken impulsively in that moment, based on misterious reasons.
In my opinion the concept is quitesimple: we need the others! We need to share our doubts,mistakes, beliefs and everything good/bad involved in our trading activity. So I came to the conclusion: let's try to change our views, let's start to watch outside of this small box! Maybe someone has something important for us, or maybe you have something important for the others without even knowing it... what for you is so simple and obvious, could be my worst nightmare!
There is a way to clean up thiswhole messed situation: working in …
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scramble avatar
scramble 23 Dec.

hei zevik, long time no see :) the idea is good, i'm also trying to build something by my own, and something is developing also in other ways from other people :) let's see if and how it'll play out :)

Nick_T avatar
Nick_T 6 Jan.

That's actually a very good idea. Going to speak about it during the next board meeting.

scramble avatar
scramble 6 Jan.

Tha's good nick :) tks!

jezz avatar
jezz 14 Mar.

I spoke yesterday with a guy who was in Forex from its prehistoric times. When you had the dial-up connection and stuff... so he came along in Bulgaria in an internet coffee shop where people were paying to trade. His opinion is that beginners must listen and watch each other - more pairs of ears can hear more. And I connected that to another thing. Managed accounts. A friend of mine that I'm trying to bring here is actually managing a joined account of a team.

jezz avatar
jezz 14 Mar.

All team members must obey some internal rules - 3 consecutive losses means 24 hour no trading, max loss per position 2%.... And they work as a team, each of them trading on one or 2 pairs. In the beginning, they acted like they competed with each other, creating a 'negative' score - they were in plus, but many of them were playing stubborn to be better than others, losing 10% per position. Now it seems to me they are playing as a team. This is a great idea for a contest. Maybe a pilot project can be made as a derivative of Trader contest.

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24/35
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Successful traders of philosophy As a successful trader, we must first consider the safety of the funds, and can bear how much loss. 1. Placing stop loss is to guarantee the safety of the funds is the most effective and direct way. 2. The light warehouse trade is the biggest can ensure traders head effectively keep trading system operation. If you order the loss, begin to affect your trading psychological mood, it will affect your judgement. The largest is probably illegal trading system operation. 3. The dealer is the profit and loss of trade for a long time by the dealer to win the number of times plus the number of profit points less loss and loss of points to calculate and measure. 4, effective capital management and the risk of loss control but also the biggest guarantee successful traders. 5, to analysis the market in a consolidation phase, rising trend, still drop trend. To do more, do empty strategy, 6, to check the order is correct, including the order number, stop position, direction of order. 7, to understand different currency fluctuation properties of size, suitable for take trend band operation or to take consolidation operation strategy. 8, must b…
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ZHOU avatar
ZHOU 8 Jan.

My English is not good, please carefully read the article hope to be able to read my article. Thank you for the support and love

captain avatar
captain 17 Jan.

Agreed. If the market takes your funds, you cannot continue trading. We have to protect our capital.

ante777 avatar
ante777 21 Jan.

Good article.

SpecialFX avatar
SpecialFX 24 Jan.

Zhou, one suggestion I'd give would be to divide big blocks of text into smaller paragraphs, so that it makes it easier to read and you also get more "Quality" points from Dukascopy :)

ZHOU avatar
ZHOU 25 Jan.

Thank you, your advice. I really like your advice :)

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