What are your favorite trading myths? - Page 3
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Thread: What are your favorite trading myths?

  1. #21
    94877One of my preferred trading myths is THE MARKET IS ALWAYS RIGHT

    Yaaa.... okay.... Sure....

    Is that what you're going to say when you're favorite inventory, or FX pair (I could give hundreds of examples) openings up 50 points and you do not even know why?

  2. #22
    Quote Originally Posted by ;
    is right. However, I must submit my participation = the trend is your friend. It is a friend generally more like the friend who comes over needing to borrow things, as best.
    This Isn't a myth, It's a REAL and TRUE trading FACT.

    Maybe you have been spending too much time in the wrong thread (ie: there is one called The fad Isn't your buddy )... lol... such NONSENSE

  3. #23
    94875Okay, I'll bite.

    My favorite myth is that if you're getting a 1-10percent increase in your account equity weekly/monthly/yearly, you should be extremely satisfied.

    While that's true for those who have million bucks accounts, it's not if you're let us state trading a 10k account or even worse a 200$ account.

    I love this myth so much that I wager I begin a S#@! Storm supporting me once this is posted... But seriously, the sky is the limit

  4. #24
    94875#8220;Profitable traders teach for free because they make as much money from trading. #8221;

    I don't expect Tiger Woods to teach me golf for free. Seriously. And that dude made shit load of money golfing.

    Simple supply and demand, which all traders must be comfortable with.

  5. #25
    94875Trading Expectancy:
    All too often you'll come across traders/vendors proclaim that being picky and focusing on 1-2 best installments per week/month is the ideal approach. The fact is that the more you trade the possible profit you can make. They key is to locate as many expectancy setups as you can. Then your PA reading skills are crap, if you're able to really only find 2-3. Your confidence is too low on being picky if you can not conquer the fear of losing and also the focus. Free trade and your mind should be the goal of every trader.

  6. #26
    94875Preserving Capital:
    the principal job of a trader is to make money in a risk controlled environment, never do I believe my job would be to preserve capital. If you approach trading together with the mindset that trading is about not losing money and maintaining capital... you'll be among those traders who at best are destined to create small risk/reward profits. The mindset approach that is wrong limits how much you are able to attain. The job of a price action trader is to create money in ALL market conditions, people who can not - and you will find loads of these. . .are nothing more than trading platform or pattern traders

  7. #27
    94875My myth is when any trader believes they know better than everybody.

    If a person wants to tout their method as something which works, great. However, to shoot down what others say, amounts in itself. If not a myth to you, then a myth to somebody else.

    If any trader is profitable, and whatever methods they use work for them, that is no myth. However, for somebody elseit won't do the job for them, plus they need to employ some thing different.

    As an example, say a trader A has found a method that works, and it goes contrary to what most other traders have advised them. So, great trader A can proceed make money teaching others how to use his method? Wrong, if Trader A's method only works for them, what good does it do anybody else?

    It is my expertise trading is a solitary trip. It is possible to learn from other people, but if you don't learn your self, and what works for you, then you won't ever be prosperous.

    Therefore, I figure all this, for me , boils down to the greatest myth of all (in my opinion), and that's what is necessary to be successful.

    Strategy? Fantasy
    and subject? Fantasy
    money management? Fantasy
    R:R? Myth

    The above factors are important, but do not clarify the general facilitating factor, that is, being honest with, knowing, understanding, and accepting yourself. Once you understand how to apply this to trading, you are going to be a successful trader...

  8. #28
    Quote Originally Posted by ;
    you could just open a random position every day, place your TP in 60 pips, place your SL in 30 pips, and simply sit back and watch the cash roll in. Newsflash: it will not work. I know, it tried! ...
    This one made me laugh.

    Profit targets aren't defined from the trader.

    Risk/reward is a criteria for entrance, for the ones that use it properly as part of the egy. Stop trading if you want me to explain.

  9. #29
    94875NOT a fantasy but the one reality!

    Winners are louder than losers!

    But maybe not the loudest wins also.

    Is also in different circumstances so....

    . . .scottish liberty election.... Can you remember?

  10. #30
    94875LOL! So true!

    Quote Originally Posted by ;
    Myth no two: I exchange pure Price Action Really? Do you? Do you exchange Renko charts? No? That is what I thought!

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