Блог Сообщества Dukascopy

Отсортировано по тагам:  Discipline
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Helping trader to be disciplined

I like how Dukascopy designs contest and trading condition to help traders to be successful. I say this based on my 4 year experience with Dukascopy.
I would like Dukascopy add some risk management to report page. It does not need much work from programming side.
It is simple function. Trader add hiss trading criteria like, daily, weekly, monthly losing and profit targets. Also there can be more limits like order number target, turnover limit and ect. Trader can check how periodically his perfor…
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rashadali avatar
rashadali 13 Июль

CommunitySupport  Hope  you can  consider my  suggestion )

rashadali avatar
rashadali 17 Июль

Dukascopy will  discuss  my idead)  Why I shouldn't  love Dukascopy? Good luck guys! )

MIYASAKICTBA avatar
MIYASAKICTBA 17 Июль

Excelentes considerações! Eu uso outra plataforma para produzir relatórios MT4, no entanto, a conta do campeonato não pode ser registrada neste site para analisar nosso desempenho, mas seria muito melhor ter tudo em um só lugar, isso tornaria muito mais fácil.

siga meu relatório da Dukascopy

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Day 4 - Patience & Discipline

Patience & Discipline:
"It's not the mathematical skill that's critical to winning, it's the patience & discipline of being able to stick to the system"
In my opinion, the number one reason a novice retail trader fail to become consistently profitable is due to lack of discipline to follow a trade plan. It often happens, when the market is not behaving according to their expectation, they become impatient and take trades out of frustration and deviate from their trade plan.
Perhaps this lack of…
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New Month, New Goals

The plan for current month is to manage to get in top 10, even thought over the past few months I've failed miserably in producing any good results I'm still pretty much confident that I can make it back in the top rank. However I'll need to exercise good discipline and at least some proper money management technique.
Since every point is important I'm trying to not disregard the social points either and us such I'll have to do some blogging. In my humble opinion, one aspect that Dukascopy Co
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shanziester avatar
shanziester 1 Авг.

I have to agree with you but then again I am not really fond of this blogging feature in Trader contest. The contest is about getting the best trader so emphasis should be given more on trading skills not on writing skills. Maybe they can implement points based on number of positive/negative trades.

Daytrader21 avatar
Daytrader21 1 Авг.

shanziester Thanks for your feedback. I on the other hand I can see the merits of blogging and I think is a good thing they got this new feature. However currently I lack the motivation in continuing to write  high quality post when I can post the same thing that everyone else is posting and get the same points. Maybe if they decide to give half a point for low quality blog post this will force the community members to step up their game.

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Why Do Disciplined Traders Make Bad Decisions?

We've all known traders who lack self-control. They react rather than act, making decisions impulsively, often based on those twin fears of missing out and losing money. It's no surprise when such traders draw down. In a very real sense, they trade their hopes and fears, not the markets in front of them.
But how about traders with excellent self-control? I know many: experienced money managers with long histories of success. Once in a while they make mistakes that they describe as rookie errors…
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ANABEVZ avatar
ANABEVZ 5 Апр.

I can say my opinion:
There are 2 reason as for me
1. Only imagine - you always in a self control, all your emotions, feelings and reactions.. yes  - you can do it as a habit. But, there are one thing that can bring you from this condition and it's not important what value it has. Why? Because in one moment  comes a limit and emotions want to break out, all that so long accumulated.

2. when you taking more and more and more money.. there are the feelings of excitement and too much confidence.. it can push to rash actions.

All we make mistakes.. They are the part of life and experience.

Daytrader21 avatar
Daytrader21 5 Апр.

ANABEVZ thx for your feedback. You're right no one is immune when it comes to making mistakes.

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Discipline is the road to success

In my last blog about trading, i urged traders to ignore personal motives when opening a trade. This concerned emotions like greed, eagerness, fear or doubt. Ignore your feelings, do not feel! was the message.
In this blog it's getting even worse.
Now i will strongly advise you to ignore more feelings. Feelings of resistance, feelings of joy, feelings of boredom and feelings of haste or pressure. Do not feel! is again the message. Befehl ist befehl is the message here.
Who's befehl
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semperaugustus avatar
semperaugustus 27 Янв.

Thanks ladies.

VictoriaVika avatar
VictoriaVika 27 Янв.

Totally agree Semper, good point :)

bharatholsa avatar
bharatholsa 28 Янв.

Love your write-ups ))

semperaugustus avatar
semperaugustus 28 Янв.

Thanks.

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Note to Self!!

This has definitely been my worst performance in the last few months, and its all because I decided to go against the trend...After days of low volatility, I decided to go against the United States Dollar..That decision has been very costly.. ...Well, once again i have learnt...
The contest table looks rather funny, it has really been a slow month...
But even with a tidy profit, it is still possible to climb to the top...The power of blog points and conditional orders...
Nigerians totally rocks!…
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Drawdown and discipline

Hard times have come! Have had 2 or 3 losers in a row. Not that I had made wrong decisions or not followed the strategy, just being on the wrong side of probabilities. It has always been a very problematic period for me. Every time I had drawdown I would start chasing trades, but lately I have managed to get over it by thinking more in probabilities than in winning or losing each particular trade. I think it is more important to know how to lose than how to win, that is what makes a big differ…
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Discipline - Key of Success

We have all read so many stories on how to become a successful trader. We all know to do the math, and it always comes down to psychology.
From what I know, the Holy Grail of trading is discipline.
And so it is in life.
I've been staying up late for a couple of months now. Yet, I'm trying to make myself get up at 7. Not working so well. I'm still going to bed at 2-3am. Not good. My life was so much more in order when I didn't have internet (which can be counted in decades now :P). Just kidding,…
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agddivisas avatar
agddivisas 1 Июнь

discipline and constancy, very important.

jezz avatar
jezz 1 Июнь

I believe that discipline will eventually lead to constancy

mag avatar
mag 2 Июнь

Military Naval Academy discipline. Order, and from there what you want.

jezz avatar
jezz 2 Июнь

Do you think they accept 35 year old women in the Military Academy? :P

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DAY 18 - PATIENCE & DISCIPLINE

Patience & Discipline - Amateur Traders vs Professional Traders

Amateur
Traders are not sufficiently selective when entering trades. When they see volatile price movements, they become impatient and enter trades in middle of nowhere based on emotion, fear & greed rather than waiting for their system to give a buy/sell signal according to their trade plan. They want to be part of market action, as soon as they open their charts and see volatile price movements. They don't think in terms of proba…
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Jignesh avatar
Jignesh 19 Май

I read this as I'm contemplating what to do with 2 trades I just missed and are going my way.  Your timing is impeccable!

alifari avatar
alifari 19 Май

Jignesh, it's all part of the game, we miss some, we get some, but market provides us with ample opportunities day in and day out. Gonna write something about missed trades in my next blog.

Jignesh avatar
Jignesh 20 Май

You're right,  But it depends on the time frame you trade.  Scalpers have opportunities all the time, but say you hold trades for a few weeks, those opportunities only come 2-3 times a month.  If you miss it, it's harder to shake off.Looking forward to reading your insight on missed trades.

alifari avatar
alifari 20 Май

I agree with u and used to think the same, but if you have a higher time frame bias and conviction that price will go in certain direction and even if you miss the first opportunity, you can drop down a time frame or two and enter on retracement with tighter SL and earn similar R profitability then the initial trade. But this logic best work on live account, but in contest it's all about high profitability, so yes I agree that it's hard to let it go.

Jignesh avatar
Jignesh 20 Май

Yes you are right.  I'm speaking with a bit of a bias.  I've been wanting to short Gold all year.  I missed the first entry on March 16, and then missed the retracement on April 14 by $2.  It's been hard to shake that off, these are the types of trades that make my quarter.  But for the most part, usually you get a decent retracement.

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Patience & Discipline - Posted on 19th April

I have been lacking patience & discipline this month in my trading, so did lot of reading on psychology related stuff this weekend. Here is another paragraph from my article. It's always good idea to go back to basics and learn from your mistakes.
Focus on learning how and why price moves, and you will make money.
Focus on how to make money, and you will go nowhere.

Patience & Discipline:"It's not the mathematical skill that's critical to winning, it's the patience & discipline of being able to
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