Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

analyst75

What traders shouldn’t do

Recommended Posts

“Profit and discomfort stand side by side.

Ancient wisdom from the East: What at first brings pleasure in the end gives only pain, but what at first causes pain ends up in great pleasure.

 

Don’t confuse execution with opportunity.

Save Donkey Kong for the weekend. Pretty colors and fast fingers don’t make successful careers. Understanding price behavior and market mechanics does. Learn what a good trade looks like before falling in love with fancy software.

 

Control risk before seeking reward.

Wear your market chastity belt at all times. Attention to profit is a sign of immaturity, while attention to loss is a sign of experience. The markets have no intention of offering money to those who do not earn it.

 

Don’t count your chickens.

Profits aren’t booked until the trade is closed out. The market gives and the market takes away with great fury.

 

Don’t have a paycheck mentality.

You don’t deserve anything for all of your hard work. The market only pays off when you’re right, and your timing is really, really good.

 

Don’t try to get even.

Trading is never a game of catch-up. Every position must stand on its merits. Take your loss with composure, and take the next trade with absolute discipline.

                                                                                                                      

Don’t seek the Holy Grail.

There is no secret trading formula, other than solid risk management. So stop looking for it.

 

Don’t forget your discipline.

Learning the basics is easy. Most traders fail due to a lack of discipline, not a lack of knowledge.

 

Don’t project your personal life.

Trading gives you the perfect opportunity to discover just how messed up your life really is. Get your own house in order before playing the markets.

 

Don’t think it’s entertainment.

Successful trading will be boring most of the time, just like the real job you have right now.” -

 

Author: Alan Farley

 

 

Profits from games of knowledge: https://www.predictmag.com/ 

 

 

 

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • Date: 19th March 2024. Market Recap – It’s a classic ‘Buy the rumour, sell the fact.   Economic Indicators & Central Banks: The advent of Wednesday’s FOMC decision and the further slippage in Fed rate cut expectations extended selling pressures on Treasuries.   Corporate issuance and the risk-on trades into equities weighed too. BoJ delivers dovish hike: The BoJ ended its yield curve control, ETF buying and the 8 years of negative interest rates and ushered in the nation’s first policy tightening since 2007. Also the bank pledged to continue to buy long-term government bonds. There was little indication of additional hikes, which signalled that this is not the first step of a rapid tightening cycle. RBA drops tightening bias, as it keeps the policy rate at a 12-year-high. The RBA held the cash rate at 4.35% for another meeting, but removed any reference to possible further hikes from the statement. When asked if the RBA had indeed moved to a neutral stance, Bullock said the risks to the outlook are indeed “finely balanced now”. Today: The FOMC meets for 2 days, and will issue its post-meeting statement at 18:00 GMT on Wednesday. Expectations are for no policy change at this meeting, but verbiage will be closely monitored for hints regarding the rate path in the remainder of 2024. Market Trends:   Wall Street bounced but pared its early rally. It continued to shrug off the evolving Fed outlook and instead re-focused on tech enthusiasm. A Bloomberg report that Apple is in talks to build Google’s Gemini AI engine into the iPhone boosted risk appetite. The NASDAQ (US100) advanced 0.82%, after halving early gains. The S&P500 (US500) was up 0.63% and the Dow was 0.20% higher. Nikkei (JPN225) was choppy after the decision but closed 0.66% higher, while Japanese government bond yields fell. Financial Markets Performance:   The USDIndex firmed and held over the 103 mark. It rose to 103.45. The USDJPY lifted to 150.47, with the Yen paring recent gains, despite the hike, as Ueda made clear that the inflation target has not been reached yet. As interest rate differentials between Japan and the United States remain stark, Yen is likely to remain under pressure. Antipodeans: AUD and NZD slid to 2-week lows, i.e. 0.6515 and 0.6050 respectively. Gold eased to $2,153.95 and USOIL steadied at $82. Bitcoin drifted for a 4th day in a row, currently at $64,500, slightly above 20-DMA. Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HFM Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Andria Pichidi Market Analyst HFMarkets Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • $PLTR Palantir stock attempting to move higher off the 23.47 support area , see https://stockconsultant.com/?PLTR
    • $DIS Walt Disney stock ascending triangle breakout watch , see https://stockconsultant.com/?DIS
    • $CTAS Cintas stock narrow range breakout watch above 637.64 , see https://stockconsultant.com/?CTAS
    • $BHC Bausch Health stock back to 9.15 support area with high trade quality , see https://stockconsultant.com/?BHC
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.