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Make your Trading Taboos "Do not"

  • #21
  • Oct 6, 2019 4:33pm Oct 6, 2019 4:33pm
Quoting Aussi
what i do not do use a stoploss use a ea what i do, i trade
i hear you mate
Let me fill my acount wallet then will take Ur advice
  • #22
  • Oct 6, 2019 4:51pm Oct 6, 2019 4:51pm
Quoting rafat habeb
{quote} i hear you mate
i know mate see people make trading complicated
people leave, but this thread will go on for ever
  • #23
  • Oct 6, 2019 6:22pm Oct 6, 2019 6:22pm
Do not trade until you acquire some kind of trading education. (probably the most difficult).
Do not trade live until you can double a demo account using your chosen method of trading.
Do not trade until you get over using indicators.
Do not trade until you understand price action.
Freedom is not free
  • #24
  • Oct 6, 2019 8:37pm Oct 6, 2019 8:37pm
Don't listen to others
Double the account
  • #25
  • Oct 6, 2019 8:47pm Oct 6, 2019 8:47pm
Quoting zghnno
Don't listen to others
a negotiable controversy statement.
better to say, know who deserve to listen to !!
each day 10%,,,, https://www.forexfactory.com/thread/1371538
  • #26
  • Oct 7, 2019 2:29am Oct 7, 2019 2:29am
Quoting Aussi
what i do not do use a stoploss use a ea what i do, i trade
I think, that Aussi means - he use EA as stoploss because of broker stoploss hunts.
  • #27
  • Oct 7, 2019 2:30am Oct 7, 2019 2:30am
Quoting todamoon
{quote} I think, that Aussi means - he use EA as stoploss because of broker stoploss hunts.
no ea,s mate , no stop-loss with my trading
people leave, but this thread will go on for ever
  • #28
  • Oct 7, 2019 5:51am Oct 7, 2019 5:51am
Do not:
Touch the terminal unless sober and well rested
Forget about what time it is
Hold loosing trades for more than 5 hours
Close trades in profit simply out of fear or greed
Be a perfectionist
Forget that no matter how efficient your system is, there are people making money with a coin flip just because they have the guts to press that BUY/SELL button
Get Rich or Die Trying
  • #29
  • Oct 7, 2019 6:24am Oct 7, 2019 6:24am
if you don't use a stop loss, when do you close a losing position?
It's bad luck to be superstitious
  • #30
  • Oct 7, 2019 8:48am Oct 7, 2019 8:48am
Do not oversize a position to make up for loses.
Money = Labour coupons
  • #31
  • Oct 7, 2019 3:18pm Oct 7, 2019 3:18pm
Quoting Macd-rsi
I have tens of taboos that I am trying to abide by, 1) do not sell after breaking up, 2) do not buy after breaking down 3) do not trade at abnormal trading times! make your rules, then strictly adhere to it
First I thought you were talking about "break up" So not to trade after a break up due to emotions etc...

Ok, here are my DOs:
Do when you SEE the market... and the conditions are right... The more it moves, the better...
...

Ok, here are my DON'S:
do not trade outside the plan or some general guidelines for unscheduled opportunities...

and standard:

  1. learn when not to trade
  2. plan trades, trade the plan
  3. do not chase the loses
  4. detach emotions
  5. pre-set THE NUMBER at which you walk away

+if possible, avoid certain DEAD/stall times.. In markets that is usual around new year, +/- weeks.. summer pretty much shit too golden season sep-15th of DEC, second being like feb-may

Can you afford to take that chance?
  • #32
  • Oct 7, 2019 3:39pm Oct 7, 2019 3:39pm
Quoting auricforecas
{quote} +if possible, avoid certain DEAD/stall times.. In markets that is usual around new year, +/- weeks.. summer pretty much shit too golden season sep-15th of DEC, second being like feb-may
and most importantly, avoid 30.10.2019
each day 10%,,,, https://www.forexfactory.com/thread/1371538
  • #33
  • Oct 7, 2019 3:44pm Oct 7, 2019 3:44pm
Quoting Macd-rsi
{quote} and most importantly, avoid 30.10.2019
exactly! In fact, I might be out of the whole 44th week...
Can you afford to take that chance?
  • #34
  • Oct 7, 2019 3:54pm Oct 7, 2019 3:54pm
Quoting auricforecas
{quote} exactly! In fact, I might be out of the whole 44th week...
how many pips you expect on 30.10.2019?? 93875 pips???
each day 10%,,,, https://www.forexfactory.com/thread/1371538
  • #35
  • Oct 7, 2019 3:57pm Oct 7, 2019 3:57pm
Quoting Macd-rsi
{quote} how many pips you expect on 30.10.2019?? 93875 pips???
Depends on the market... But it is not so much about the pips move on that date... I am more interested in potential trend change/reconfirmation...
Because I believe this will give/confirm us a trend for the the next 3-5months...
Can you afford to take that chance?
  • #36
  • Oct 7, 2019 3:59pm Oct 7, 2019 3:59pm
Quoting auricforecas
learn when not to trade plan trades
Agree 100%. I have learned this one the hard way earlier this year.

Quoting KeenPips
4. hop trading systems KP
so true!

As a newbie, I am certainly not the most experienced. However, in my limited time trading this year, I agree with auricforecas and Keenpips - I'd say a few musts are:

  1. Find a method that works for you. I had been bouncing around a lot of techniques and losing on most of them. Once I found some general principles that are working and fit my personal style (a bit of technical analysis with some general rules), it feels more natural and I am having much more success - including a week of 10 for 10 positive trades.
  2. Never short cut analysis to make trade for the sake of making a trade. If I don't have time to really look at the price action levels and some historical behavior, stay on the sidelines rather than jumping in on what you think is a move. My odds drop significantly when trying to jump in on a move on a whim.

If in doubt, paddle out!
  • #37
  • Oct 12, 2019 1:48am Oct 12, 2019 1:48am
Quoting SurfsUp
Find a method that works for you.
It is preferably a very complicated method consisting of tens of mathematical equation
each day 10%,,,, https://www.forexfactory.com/thread/1371538
  • #38
  • Jan 24, 2020 1:50am Jan 24, 2020 1:50am
Do not...

1) enter a trade before FOMC/Interest rate decision/Non Farm Payroll news,
2) enter a sell above a strong support/buy below a strong resistance,
3) lock/hedge a losing trade,
4) follow signals blindly without understanding the plan,
5) fall for boiling frog syndrome, allowing losing trades to run away without SL.
  • #39
  • Feb 3, 2020 1:35pm Feb 3, 2020 1:35pm
I may not have so many rules, but I prefer to trade in a calm mode, so I can always devote enough time to it and gradually move towards my goal. It is important for me to be able to trade as planned and not take on the asset that I have not sufficiently studied. In addition, I try to build up an investment portfolio at the beginning of each month, so that I can spend less time looking for a deal and work despite the calmness of certain dynamics. I do not want to treat trading as a secondary occupation, so I make plans and keep statistics and do other slightly boring things to become a real pro.
  • #40
  • Feb 3, 2020 5:41pm Feb 3, 2020 5:41pm
Quoting Elvan
Do not... 1) enter a trade before FOMC/Interest rate decision/Non Farm Payroll news, 2) enter a sell above a strong support/buy below a strong resistance, 3) lock/hedge a losing trade, 4) follow signals blindly without understanding the plan, 5) fall for boiling frog syndrome, allowing losing trades to run away without SL.
What do you mean by #3? If you're losing on a trade wouldn't you want to get out?
Self-sufficiency is the greatest of all wealth. - Epicurus
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