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DAY 10 - THINGS ESSENTIAL FOR TRADING SUCCESS

alifari Posted 10 Aug.  in #Trader's blog #Trading #Backtesting #Success
Some important points to consider:

1) Gut feel without understanding leads to the trading of randomness.
2) Back testing without understanding leads to the trading of randomness.
3) Nothing substitutes for a reasoned understanding of how markets behave and a disciplined execution of trades that reflect that understanding.
4) From reading various books and blogs, I have noticed that the most successful market participants find a limited number of patterns that have favorable odds of success an…
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kyleky 10 Aug.

Point no 4 : Its different in trading for a contest & live, to win in a contest, you will need to bet big.
Win it or risk losing everything in hand.

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alifari 11 Aug.

I agree, contest environment and risk management is completely different from live environment.

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DAY 18 - RECIPE FOR SUCCESS

alifari Posted 18 Apr.  in #Trader's blog #Success #Recipe
"The hard work in trading comes in the preparation. The actual process of trading, however, should be effortless"
Recipe for Success
1) Back test and find your edge
2) Experiment and master different strategies and apply those to different time frames, so that your strategies produce enough setup each day in order to avoid taking trades out of boredom or frustration.
3) Make sure your average winners are at least 2R
4) Make sure your average losers are less than 1R
5) Don't widen your stop loss,…
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DAY 11 - TENACITY IS THE ABILITY TO NOT GIVE UP

alifari Posted 11 May  in #Trader's blog #Success #Tenacity
Charles E. Kirk has been involved in the investment world for over 20 years. He is best known as the author of The Kirk Report, an analytical service that also curates important writings in the finance media. In recent years, he has also run an active mentorship program for developing traders and investors. Here is something he shared about his observations and perspectives from his mentorship perch.
"Those who have become successful in my experience always have a high level of tenacity. Those …
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DAY 16 - KEY TO SUCCESS

alifari Posted 16 Aug.  in #Trader's blog #Success #Key
Here is something I want to share. Every morning before starting to trade, I read these points. I have noticed it helped me a lot while trading. I hope this helps. I would also recommend to read "Trading in the Zone" (by Mark Douglas). It's a wonderful book.
KEY TO SUCCESS
1) TRADE WITH NO FEAR
2) TRADE WITH NO RECKLESSNESS
3) TRADE WITH POSITIVE ATTITUDE
4) TAKE RESPONSIBILITY FOR EVERY WINNER OR LOSER
5) LIMIT YOUR RISK WITH PROPER MONEY MANAGEMENT (1% OR 2% RISK PER TRADE)
6) PRE-DEFINE RISK …
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VikaChechenkova 18 Aug.

great!!

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KEY TO SUCCESS

alifari Posted 14 Dec.  in #Trader's blog #Trading Psychology #Success #Routine
Here is something I want to share. Every morning before starting to trade, I read these points. I have noticed it helped me a lot while trading. I hope this helps. I would also recommend to read "Trading in the Zone" (by Mark Douglas). It's a wonderful book.
KEY TO SUCCESS
1) TRADE WITH NO FEAR
2) TRADE WITH NO RECKLESSNESS
3) TRADE WITH POSITIVE ATTITUDE
4) TAKE RESPONSIBILITY FOR EVERY WINNER OR LOSER
5) LIMIT YOUR RISK WITH PROPER MONEY MANAGEMENT (1% OR 2% RISK PER TRADE)
6) PRE-DEFINE RISK …
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2 Comments
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sonjatrader 15 Dec.

Very good article

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agddivisas 28 Dec.

Bravo, for me most important is nº1.

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