Trading In The Zone The Holy Grail

[RealFX]

Very enlightening

Let me take a stab at a concept I am hearing come through all of this:

Determine your edge by whatever you think works or have tested execute on that edge structure your money management to endure the times when the edge makes trades that do not win. As long as the edge produces winners even rare winners you can come out ahead in trading..

Correct?

When I first looked at trading man did seem like being right was what it was all about. But now it seems like consistency flawless execution mean just as much if not more than being "right".

I stopped in a Barnes Noble the other day wered over to the business section. I was browsing some of the books there came across one that was written for futures trading. It was a recent book the author laid out his some basic trading concepts including a system which he said many traders tried never made money but paid him very hsomely. The catch he said was that his method was so simple they didnt belive it worked. I dont remember all the details but he basically bought or sold on reversals using nothing but cle stick charts. Nothing else no MA or Stoch- seemed like such a simple edge to have. I guess the point of all this is that maybe the old saying of "forest for the trees" can apply to trading.

[autofx]

RealFX

I don't doubt the story you recounted. Many traders assume
their inability to execute a good strategy profitably means the
strategy is flawed.

They haven't reached the point where they can step back
see how their emotions rule their trading actions.

Relentless accurate execution of a good logical mechanical
trading strategy IS the way to go.

For those who still doubt the value placed on "system trading"
in the forex world read this weep!

[MickMason]

Originally posted by RealFX



When I first looked at trading man did seem like being right was what it was all about. But now it seems like consistency flawless execution mean just as much if not more than being "right".

I guess the point of all this is that maybe the old saying of "forest for the trees" can apply to trading.

They're two main reasons why 90% lose! The majority believe predicting direction is the most important part of trading. Those who survive the inevitable drawdown go on to realise eventually that money management minimising risk imising gain are what really matters in this business.

Also like you say some can't see the obvious through the myriad of indicators on their charts.

There was a trader on here once who laughed at the idea that money management was as important as deciding direction seems he changed his mind

Mick

[KPcurrency]

Repeat after me..................


"I totally underst that consistency is more important than being right.
Having the desire to be right is for amateurs making money consistently is what the real professionals do.
I am striving to be a real pro everyday by focusing on what is proven to really work which produces steady
profits while protecting me if I am wrong."~trader's affirmation by Mohan

Just because something is a cliché that doesn't make it false. cutting losses letting profits run really does work.
The future is unknown it is unknowable; but to make money in trading it doesn't have to be.

[autofx]

I think Mick prefers something "original" that will generate margin
calls for him. You'll see lots of snide criticism this bozo but
nothing constructive. The mark of a consistent LOSER.

Clearly in the "doesn't get it" category!

[KPcurrency]

"The best traders can put on a trade without the slightest bit of hesitation or conflict
just as freely without hesitation or conflict admit it isn't working.
They can get out of the trade -- even with a loss -- doing so doesn't resonate the slightest bit of emotional discomfort.
In other words the risks inherent in trading do not cause the best traders to lose their discipline focus or sense of confidence."~tactical trading

[fadsam]

wounderful stuff !

I think the success in this field:

is'nt a matter of mental action but psyclogical one

isn't a matter of "deep research" but strong decision

isn't a matter of intellegence but determination

I hope all share in this important thread !

[MickMason]

Some excellent quotes!

KPcurrency is 'Tactical Trading' a book?

Mick