Lessons For 2006

[Soultrader]

With 2006 almost coming to an end, what was the biggest trading lesson you learned this year?

For me, it was understanding that the market will do whatever it wants to do. It doesn't care about what I think it should do. Instead of having a bias, I learned to approach everyday with a flexible mind and plan out every scenario. It has helped me fight the overall direction of the market.

[TinGull]

I feel exactly the same for the big lesson I learned. I was taught by the market to just go with the flow for not only trading, but even more so in life.

[Bfbusa]

Lessons learned this year is to stay with your trading plan. Stay disciplined. Manage risk. Let profits run.

[Anna-Maria]

Funny, but it's nearly always the same lesson as last years:-

Always expect the unexpected!!

And never, ever dishonor your stops!

[torero]

I think we all relapse to same old mistakes and then we rediscover the same big lesson LOL! This year is definitely forex. I'm very excited about next year but I also know Nov/Dec in forex has more wider swings and bigger trends than rest of the year, so I'll take it with a grain of salt. But learning the session hours and 240-min timeframe were a great big leap for me. Thanks, tex.

[Anna-Maria]

	Quote:	torero
	But learning the session hours and 240-min timeframe were a great big leap for me. Thanks, tex.

No problem!

I'm pretty sure once you become accustomed to the price bahaviour on your preferred pair(s), the appropriate strategies will begin to gel.

Most of the hard graft revolves around familiarization.

[Bfbusa]

[quote=torero;3422]I think we all relapse to same old mistakes and then we rediscover the same big lesson LOL!

LOL..I think your right Torero. Probably one way to help remember ones own mistakes is to paste it on the wall or on you computer screen like I have my trading rules pasted. Maybe I should start a new thread on this.

[TinGull]

Another thing I thought of that I learned...is to have another hobby. For me, I need to have something else to take my mind off of trading sometimes. I have been so enveloped by this for the past year, that it's become my only thing in life. I've found that with having something else to occupy me, it leaves me refreshed.

[MrPaul]

	Quote:	TinGull
	Another thing I thought of that I learned...is to have another hobby. For me, I need to have something else to take my mind off of trading sometimes. I have been so enveloped by this for the past year, that it's become my only thing in life. I've found that with having something else to occupy me, it leaves me refreshed.

I totally agree! You have to have something as a hobby as a way to recharge. If I go and do some right brain activities I come back to trading more relaxed.

[TinGull]

Yup! Baking bread is my big thing. Been baking for years now, and today FINALLY had my very first nice loaf of true sourdough bake off perfectly. Took almost a week to make that one loaf...but it's so worth it