Do you have conviction in your strategy and the confidence to execute the setups that it presents to you? When push comes to shove, this is what good trading comes down to.
If you don’t have confidence in any particular setup, then you either shouldn’t be trading your strategy of choice, or you should be doing absolutely nothing.
Think About This...
“95% of traders lose money.”
We’ve all heard the stat. Heck, if you’re a new trader then the percentage is even higher!
So think about this. If 95% of traders lose money, then all you have to do to put yourself in the top 5% of the market, is to do absolutely nothing!
Literally sit back, relax and do nothing. Remember, no position is actually a position.
Why are you Asking if you Should Take a Trade?
Between the @forexbrokr Steemit and Twitter accounts, I get a lot of comments and messages asking me questions about setups I talk about.
Should I take a short entry at x? Or should I have bought at y? My answer is always the same - What does your trading strategy say?
All traders have to have some sort of trading strategy and if you have one, then why are you asking anyone else? Consult your trading strategy.
If You’re Just not Sure?
If you aren’t sure about what to do, then do nothing. This is honestly the best thing that you can do if you’re in absolutely any doubt.
This answer is never what the asker of the question wants to hear, most often taking it as lazy, but it’s the right answer.
“I just wait until there is money lying in the corner, and all I have to do is go over there and pick it up. I do nothing in the meantime.”
Jim Rogers
Doing nothing more often than not, is the key to long term trading success.
Best of probabilities to you.
Peace ✌🏻.
Instagram: @forexbrokr
Website: www.forexbrokr.com
been a trader if u have sme good strategy dont share at all
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I don’t believe that at all.
Nobody can copy your strategy to a tee and even if they could, the market doesn’t give a fuck anyway. Sharing your trading strategy has absolutely no bearing on its profitability whatsoever.
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haha ok man
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I feel like indicators is the way to go. RSI is one of the main indicators that dictates my decision making. Is it over-bought/sold, sell/buy.
Takes the stress and greed away while giving consistent results.
@forexbrokr do you use indicators?
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I do not use indicators. Just price action around key levels.
There is no such thing as overbought or oversold.
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Very interesting post.
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What makes it so interesting?
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yes well said. we have to be more experienced.
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Just keep immersing yourself in your trading and you’ll gain that experience. 🙂
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If 95% of traders lose money, then all you have to do to put yourself in the top 5% of the market, is to do absolutely nothing!
Literally sit back, relax and do nothing. Remember, no position is actually a position... I am actually kinda scared but you know best. I will stick to your advice.
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Trust your strategy and if you don’t, then do nothing :)
There’s no need to be scared.
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So it's like the sixth sense that good traders have.
I've always lacked at this kind of stuff.
But I've friends who are very good at it, it's like they were born with a gift..
Is there a way I can learn these skills
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Do you really need a sixth sense to do absolutely nothing? 😇
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Because I have zero knowledge about this, It feels like sixth sense lol..
I'm feeling kind of stupid 😅
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You shouldn’t mate. We all have to start somewhere. Good luck on your trading journey 🙂.
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Interesting!👍
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Which part is the most interesting?
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Doing nothing more often than not, is the key to long term trading success.
That's so educative:)
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Being educative is always my goal...
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I am humbled brother:)
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I just followed you cause your posts seems to be informative post you can find similar crypto news on my steemit @reewy ,,that might be productive for you too...
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Thanks for the resteem mate.
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Sometimes doing nothing is the hardest thing to do lol Buy the dips and HODL!
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It’s really not that hard. It’s literally doing nothing haha.
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thanks for shareing it is helpfull post..
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What part did you find the most helpful?
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I believe in doing nothing is actually doing everything. (e.g.: when doing nothing we are actually looking at the charts, news, sentiments , correlation, measuring fib, analyzing for harmonics in all TF, and finally the trigger with a must SL. And when the trade is green managing the trade etc., (Indi like fractals is ok not too much)
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What’s with the random EU as at 18 FEB 2018 screenshot?
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How predictable is human nature in the charts
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feb 14
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