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DAY 22 - BEING ULTRA PICKY OR OVERCAUTIOUS - DOES IT HELP

alifari Posted 22 Ago  in #Trader's blog #Picky #Overcautious #Ultra
I often read on numerous trading forums & blogs that their strategy has a high win rate because they take very few trades and that they are ultra picky. But when a novice trader try to apply that same strategy in live market environment and forward test it, they fail to achieve similar results and in fact they hardly make any money. Why is that ?
In my opinion, trading say 4-5 setups per month is going to lead to increased pressure on each trade and thus increases the chances of making an illog…
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DAY 3 - BEING ULTRA PICKY OR OVERCAUTIOUS DOES IT HELP?

alifari Updated 3 Ott  in #Trader's blog #Ultrapicky #Overcautious
I often read on numerous trading forums & blogs that their strategy has a high win rate because they take very few trades and that they are ultra picky. But many traders try to apply similar strategy in live market environment and forward test it, they fail to achieve similar results and in fact they hardly make any money. Why is that ?
In my opinion, trading say 4-5 setups per month is going to lead to increased pressure on each trade and thus increases the chances of making an illogical decis…
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5 Commenti
verindur avatar
verindur 4 Ott

It all depends how you train your mind. I have seen people on DEMO a//c going 10 times the initial Capital on one trading day just trading on 1/2/3 Currency pairs. I myself went 10,000 to 250,000 in one day throwing all the caution to the wind.
I thinking setting up weekly trading targets would be a very balanced and right approach. And take care of the overcautious approach.

alifari avatar
alifari 4 Ott

IMO live trading is a different ball game than demo trading. When I demo trade all I try to analyze is my risk to reward ratio and profit factor. I don't give any consideration to % risk or how much I increased my demo account because it's irrelevant cause there is no emotion or fear of losing money. As regards to weekly & monthly targets that is one way of doing it, but I was more talking about traders waiting for that  two or three perfect trades a month where every thing lines up and when they finally pull the trigger the trade goes the other way and they wonder why it failed...

alifari avatar
alifari 4 Ott

..... when all the stars, moon, and sun was in right direction how come that trade failed cause they waited for so long for this perfect trade. Then they again go in hibernate mode with all those frustration in their mind for the next perfect trade, which might or might not come in next couple of weeks. I used to do the same, but not anymore.

verindur avatar
verindur 4 Ott

My approach is treat your DEMO and REAL a/c in the same way. So the transition is smooth. I have been successful to some extent. Now My approach is win a DEMO competition. Treat your REAL a/c in the same way. Think its Virtual Money until you withdraw. That will motivate you to win more DEMO's and treat your REAL a/c with little respect. Ultimately Fearless Goal-Oriented approach will take over with your Real A/c.)))))

alifari avatar
alifari 4 Ott

I got your point of view and wish u all the best in your endeavor.

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