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1/31
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All traders meet disbelief on their strategy when they keep losing. In most of the cases traders will shift to other strategies. I also did the same. After sometime I understood that it is not about strategies but about psychology. Of course there is no strategy that gives 100% true signals. They give around 60-80% true signals which are more than enough. But in spite of these percentages we keep losing. The reason for these failures is character and psychology. In this article I will share my mistakes/reasons that make me lose. I reflected my trading method in my article one currency master trading.
Wish to catch the trend earlier
By analyzing my trend history I found that I don’t wait completion of all criteria. At the end I lose.
My trading method says that trend end is near when ADX falls and MACD shows divergence. But for us to be able to sell here in chart, 21 EMA and price have to be below 144 EMA. I saw ADX and MACD signals and decided not to wait EMA signal and lost money two times.
Losing focus and deviation from method
When I am concentrated in one direction I can lose focus and can’t see signal.
Price reached the highest point. It touched resistance level and I had a…
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rinaa avatar
rinaa 30 Apr.

great

Rosie avatar
Rosie 30 Apr.

интересно и познавательно

Wovch avatar
Wovch 30 Apr.

well done!

Ne_juli avatar
Ne_juli 2 May

Good job , thanks that you shared so interesting information

rashadali avatar

Dear Friends!  Thanks for you support!  This article, with your support became the winner of April article contest! You are best of this community! )

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18/30
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The most frustrating part of trading is losing money when you know you didn’t have to. It’s not the normal statistical loss that hurts, it’s the ones you could have totally prevented; entirely your fault. These are the losses that are the result of trading mistakes. You need to learn how to prevent them, because the key to long-term trading success is preserving your risk capital so that you can take advantage of the high-probability trade setups when they arise.
  • Mistake: Thinking too much
One of the most common mistakes I see traders making, is simply thinking too much. People tend to make trading much harder than it is. I get emails nearly every day from traders who clearly are over-thinking the market and making things more complicated than they need to be
  • Solution: Stop thinking so much
Analysis-paralysis is something I discuss in-depth in an article I wrote titled “A Cure for Trader’s Analysis-Paralysis”. Reading that article will give you some good insight into how you can stop thinking so much and start trading instead. Obviously, in the early stages of learning how to trade, you will need to spend more time studying a course and studying the charts, so that you can develop yo
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Miren avatar
Miren 18 Dec.

very good!

AnnaZhurina avatar

Very good !

Annyrio avatar
Annyrio 21 Dec.

very well!

vap61 avatar
vap61 22 Dec.

Работа проделанная автор вызывает уважение, лайк, респект тебе автор!)))

thedoctor avatar
thedoctor 18 Jan.

good

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16/33
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Trading is a stressful job, sometimes even the smartest traders forget the basics.
Most traders who want to be professionals some day, spend a lot of time reading books written by trading legends and listening their interviews.
Last month, I started reading the book: Stock Market Wizards, by Jack D Schwager
This book compiled the Interviews of one of the best traders in the world. While reading, I noticed that even the best traders make the same mistakes that we amateurs make!
I will keep short, so that you can remember the whole article.
1. STAY CALM ALL THE TIME
Staying calm does not mean sitting still, your heart beat should be normal, and thoughts should be not be excitement provoking.
Emotions such as anger and excitement interfere with our brain's ability to think rationally. Hence, such emotions must be avoided on a trading desk.
There are two powerful ways to achieve true calmness in your trading terminal.
First: Decide the loss you are happily willing to take. Then keep your stop losses accordingly.

Second:
Do meditation.
If you don't know him, Ray Dalio is founder of Bridgewater Associates. It is a Hedge fund with 122 Billion under management.
Also avoid eating unhealthy…
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500nm avatar
500nm 3 Dec.

@Duka, what happened to the image, why is it not showing up

VictoriaVika avatar

500nm Well writing, very useful tips has been given in this artice, thank you and good luck :)

fullmoon avatar
fullmoon 17 Dec.

I've read all Schwager books several times, every time you read them you find a new nugget.

foreignexchange avatar

thanks for your interesting article

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4/33
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Forex trading is a very demanding occupation. It is an activity that is mentally tasking, as well as financially rewarding. However, only a small percentage of traders make consistent profits during trading.
The reason for this is rather simple; it could be the mindset with which most traders enter the markets. There is a lot of argument that the reason for some many losing traders is the presence of our Human emotions, and that trading without emotions would make a better trader. Our emotions are an essential part of our genetic make-up; and removing these emotions would have an adverse effect. Rather than tell the trader to throw away his or her emotions, it might be better to teach the trader to trade rationally and responsibly. The use of logic does not necessarily have to mean the absence of emotions.
A trader should be happy with each winning trade, because such feelings of joy build confidence. The trader should also feel remorse after every loss; but it should not end there, the trader should always try to find out what went wrong and avoid such future mistakes.
Human beings essentially have a learning mind; even though some people argue that this ability reduces as one g…
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fullmoon avatar
fullmoon 17 Dec.

Controlling emotion and discipline is one thing, but we should never underestimate our "enemies" in this market.

P3tr4 avatar
P3tr4 18 Dec.

good luck with trader contest

P3tr4 avatar
P3tr4 18 Dec.

I hope you get your trading edge back

marius24 avatar
marius24 20 Dec.

it's all about discipline...very good article

foreignexchange avatar

Good Job

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33/43
Ranking
The main difference between a gambler and serious investor is that the investor has a clear set of rules, strategies and goals that he wants to achieve and he is realistic about his own account. In the other hand the gambler don´t have a set of goals and strategies that he or she follows with discipline and when makes a profit is never protective about the money made in general engaging in high margin use after a successful trade and following a recipe to failure. The investor has mathematical plan when to enter a trade when make profit and when step out of the trade with a loose and follow that 3 steps in religious way. Other main difference between a gambler and a investor is: The gambler don´t have a good sense of how much margin he can  use, the investor is highly realistic how much money can make and how much margin can use and is inside the market only  to  create a revenue and not searching for adrenaline. Emotional control and a good plan and follow it in pragmatic way are the keys to be successful Forex markets, and when you have a mathematical plan that actually works and is realistic, is the recipe to success. The mathematical plan can involve several things like spreadi…
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OneGoodTrade avatar

Good question..difficult answer.

hytoradek avatar
hytoradek 31 July

Nice article

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10/67
Ranking
                                                                 MY
FLAWS
As a man and a human
being I accept that I have flaws. Those can be seen in my trading as
in other parts of life.
(1)
PROBLEM
I have a tendency
to be impatient. Instead of waiting for a particular pattern to form
completely I sometime take it before it finishes forming. I sometime
ge
t a good entry but I also get reversed on more time that I care to
admit. The question really is how do you correct your mistakes. Well
I happen to have the answer and I think its time I myself followed my
own advice. Knowledge is useless if you have it but don't incorporate
it in your life.
SO here is my answer.
Write down the flaw and come up with at-least one way to correct it.
In other words its time common sense became COMMON.
SOLUTION
From now on if its
not complete am not in it PERIOD. So easy a caveman can do it.
Always have a reason to
take a trade. A stop and a Take profit. Always have a confirmation
signal and watch out for the fundamentals
and the overall direction
on the underline market. Watch out for the S&P it has a lot of
pull not only i…
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positive avatar
positive 20 May

I always believe that " accepting and adapting " is the first step towards successful trading.Now you have passed first step. I am confident you will pass through second step as well.

Furian avatar
Furian 28 May

keep it simple is key for succes +1

kkforex avatar
kkforex 28 May

NIce article 1+

fora111 avatar
fora111 29 May

good article+

batlax avatar
batlax 29 May

nice +1

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36/58
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        You may have a Trading Plan to follow your own system or “edge”
but what have you got that ensures you will follow your Trading Plan? It’s that
plain old humble journal. Surprised? Don’t be. Many traders have heard of
journaling but few will ever put it into practice. So is it any wonder that
only a select few ever make it in trading? It is rather very telling that the
very thing that puts off the majority of traders are the very thing that is
directly or indirectly responsible for their trading success.
What is a journal?       A journal doesn’t need to be as complicated as rocket
science. In fact, just like in trading, the simpler it is, the more effective.
For most traders journaling means recording their trading outcomes i.e. where
did I enter a trade, where did I exit, what was the result, etc. These are fine
and you want to continue doing that. But truth
be told, that alone wont give you the the outstanding results or the amazing
changes in your trading performance that you are seeking. The most crucial part
of your journaling should be self-analysis part with a view for
self-improvement. This is where the “rubber meets the road” in journaling.The effective method
exp…
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fzavier avatar
fzavier 21 Feb.

This is the last of the 3 articles that I offered this month. The first being a help for struggling traders. My 2nd being a very powerful and complete trading strategy. Now my 3rd is equally important and complements the other 2, in the form of journaling method to make you a more effective trader. Dont be fooled by its simplicity. Its loaded with powerful methods to make you accountable and disciplined. It takes the emotions out of your trading and results in nothing but profits. You will be surprised what journaling could do for your trading success.

fzavier avatar
fzavier 22 Feb.

Journaling and trading success are 2 sides of the same coin. It goes hand-in-hand.

fzavier avatar
fzavier 27 Feb.

Its easy to see why journaling traders who succeed and the success rate of fx traders correspond to each other. Very few make it because very few journal.

Bluedragon avatar
Bluedragon 29 Feb.

good luck +1 ;)

fzavier avatar
fzavier 29 Feb.

thanks bluedragon :)

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39/65
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European Union ends the 2011 year on the brink of economic collapse. Start another one that is threatened by recession, say analysts and experts, in some places and statistics. EU economy to a halt in 2011 and is likely to be restarted minimum in the first half of 2012. What were the most important decisions and mistakes in a year where the euro and EU unity were more threatened than ever? Responses are seen in the five EU summits. How many victims did political crisis? What will change in the EU now?GREECE
BATHS first signs appear in January 2010, when EU report found and
condemned Greece for "serious irregularities" in public finances. The
statistical data were reported incorrectly, and calculations show that
Brussels budget deficit of the country the previous year is revised up
to 12.7% from 3.7%, which meant four times more than the maximum allowed
by EU regulations. In February, Greece announces the first austerity measures and the EU put additional pressure for spending cuts. Was first strikes and protests, Prime Minister Georgios Papandreou while insisting that Greece needs a rescue program. Euro
area and the IMF agree emergency aid of 22 billion to help Greece, but -
i…
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ovidiu_gnt avatar
ovidiu_gnt 13 Jan.

Perhaps it will be crisis in the euro area , but is likely to increase euro ? Good luck !

WallStreet avatar
WallStreet 13 Jan.

if the greece will be fall.the euro will be stronger!

kkforex avatar
kkforex 19 Jan.

Great writeup. What do you think will happen in 2012? 1+

corneliu avatar
corneliu 20 Jan.

good luck +1 :) interesting

WallStreet avatar
WallStreet 28 Jan.

euro will be in 13.400 this summer.now wait for a low prince and then you can buy stronger on long term!

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18/100
Ranking
-1) Take care of your family
My most important rule. This sounds very easy, but
sometimes, your trades would chain you to the computer. Try to spend time with
your family. This keeps your head free. Trading with an full time job and
family is very heavy and burdensome. If you have kids too, and try to trade
every evening, don’t forget your kids or your partner. A happy family and a
good feeling is more motivating and important,  than anything else. I also had the problem in
my past. Now my partner and my daughter know what I’m doing and they understand
it and assist me. The social aspects are very important but most people don’t think about it
before or just forget them as I did in my beginning.
Don’t forget: No money loves you more and gives you more love than your
family. If you loose your family, you loose much more than just money!
-2) NEVER let a Winner turn into a
Looser
This is also a very important rule you should try to follow.
The holy rule. The Currency Market can move very fast, so a winning trade may
turn into an loosing trade in seconds.
So try to take the maximum gain of the trade or just work with trailing
stops. Nothing is more frustrating in FX Trading if a glorio…
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Rambofx avatar
Rambofx 11 Dec.

Great

WyMe avatar
WyMe 11 Dec.

Hi and thank you very much for your comments; they are very motivating for me. I hope I'll get my 2nd article asap, but my daughter is sick and so she needs my attention

mielec avatar
mielec 17 Dec.

And the most important rule: abide by those rules...As you can see English for me is also another galaxy;) nothing will stop ambitious people +1

doctortyby avatar
doctortyby 18 Dec.

I hope your daughter is well. The Family is more important tha trading or anything else. good Luck and Good Health +1

ritesh avatar
ritesh 22 Dec.

Wishing you a very happy and prosperous New Year. +1

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35/73
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 I am a thirty years old man from the beautiful Eastern Europe country Bulgaria. From early in my life I was inspired of nature and magic of science. I was living in a family, where taking risks was unneeded and very inappropriate. Despite of this or probably because of it I started some risky sport activities like climbing and hiking alone in the mountains. There I learned a lot of lessons for life and dead and for pleasure and satisfaction that brings you the measured and controlled risk taking. Lately in my life, when I was twenty five I was fascinated by the world of financial economics and the markets on their own. I study a lot and absorb everything I read in my spare time. This was a secret world, which drives the whole planet economy and step by step it reveals his secrets.        I was very systematic and study it slowly, but the dynamics of financial markets do not even let me sleep. It was 2006, one of the last years of the big bull market in developing countries. Everything was going up, not by a small percentage, but with hundred of percentages. In this period I read many books, dedicated on trading. I was astonished and inspired from such a person like William D. Gann…
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ritesh avatar
ritesh 25 Aug.

Spot on Quantum, the Dukascopy contest 2% rule is one of the best feature among many. Wonderful read, sad that we can't give more than +1! :D)))

kawser avatar
kawser 25 Aug.

awesome buddy...

quantum_fx avatar
quantum_fx 25 Aug.

Thanks to all of you!

ritesh avatar
ritesh 28 Aug.

check out my articles too at http://www.dukascopy.com/fxcomm/fx-article-contest/?action=blog&user=ritesh

futures avatar
futures 29 Aug.

nice article, keep going!!

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40/73
Ranking
Hi Guys,That's my top10 and my 2 cents 1) Thinking that the 1million dollar strategy you just developed is a 1 million dollar strategyIf that was the case i would be billionaire by now ,-) While assessing a strategy efficiency you need to take in consideration:The time frame of your back testing, anything less than one year is not going to give you any kind of indication on how good is your strategyThe number of trades, if your strategy traded only 100 trades during the past year well your sample is just too small and you cant really draw any conclusion unless you got 80% winning trades. The Equity at risk, making a million buck with an equity risk of 20% is fairly easy.2) Not taking in consideration the spreadThe more it cost to trade a pair the wider your stop loss needs to be, if the spread is 4 pips, a stop loss of 20 is a guarantee for failure. The cost of trading should be maximum of 10%, for instance if the spread on EUR/USD is 1 then your stop loss needs to be 10 pips minimum.3) Not taking in consideration the trading hoursFor instance a cross over at peak hours(8 AM EST) is a lot more meaningful than a crossover at 6PM EST. 4) Thinking that an increase of volume always me…
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ritesh avatar
ritesh 26 Aug.

+1 :)

pipscity avatar
pipscity 26 Aug.

thanks ritesh will check your article,!

MobNaga avatar
MobNaga 27 Aug.

oops,no graphical presentation.+1

ritesh avatar
ritesh 28 Aug.

check out my articles too at http://www.dukascopy.com/fxcomm/fx-article-contest/?action=blog&user=ritesh

futures avatar
futures 29 Aug.

interesting article +1

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