Day Trading: Select certain(market) hours in a day that have nice patterns & great liquidity Do a lot of backtesting & practice

The 3 Elements of a Successful Trader

Time Frame(TF): Use bigger TF(s) to draw SR, then can also use smaller TF for precise entry/ to trade.

The 3 Elements of a Successful Trader

Support Resistance (SR) — Support Resistance(SR) Trading: Don't predict that price will move & rebound at a certain SR level, then put a pending(limit) order.. Better way : after price hitting SR or reaching a 'maximum limit'/ extreme, wait ...

The 3 Elements of a Successful Trader

Another strategy is to add on position(s) after 1st entry is positive/ profitable..

The 3 Elements of a Successful Trader

Double Entry — Lower RRR trades give higher winning percentage, and vice versa. 1 good method to trade is to combine both. Use Double Entry positions, 1st position use lower RRR (can be slightly lower than 1), 2nd position let the profit ...

The 3 Elements of a Successful Trader

Random entries won't work. Entry with 'hunch' require good instinct, this shouldn't be called a 'random entry'... Good hunch Entry couple with a high RRR will be profitable.

The 3 Elements of a Successful Trader

I read in somewhere,and now in this thread even by random entries, (as long as we use good MM & high RRR) will give us proftable results.. If it's that simple we can just program an EA: eg. MA crossover entry with RRR 1:2 or more, 2% of acc. for ...

The 3 Elements of a Successful Trader

Purifying & Meditation — Purifying: Let go of all fear, greed & delusions. Release the negative emotions & thoughts. Purify the heart & mind.. Meditation: Don't dwell in other place, past or future. Always anchor ourself in here, now. ...

The 3 Elements of a Successful Trader

The Truth about 'The Law of Attraction' & Karma — Only a person with Highly spiritual/ good karma can utilize 'The Law of Attraction' effectively. Hence traders should work hard to improve on their karma. *Remember this is an Important ...

The 3 Elements of a Successful Trader

Good good.. Actually the 3 elements are related/ intervenes with each-other

The 3 Elements of a Successful Trader

3 important ways to boost karma, 施 戒 定 : 1) 施 (giving, donation, charity) 2) 戒 (refrain from bad deeds & self overindulgence..) 3) 定 (meditation, purify the heart & mind..)

The 3 Elements of a Successful Trader

Good begets good.. doing good and helping others can have an accelerator effect and lead to more goodness

The 3 Elements of a Successful Trader

.. Just like a tree is bigger than the seed, giving away a little of the thing you want will bring back more of what you want. If we are conditioned to giving, our mind will also be conditioned to perceive receiving, and receiving becomes a reality..

The 3 Elements of a Successful Trader

[quote=Les Lau;5497251]"Hi Roofx, i agree that aside providing liquidities to the market, this trading business don't give much to the society." Since trading business don't really give much, traders should think of ways to contribute, eg charity ...

The 3 Elements of a Successful Trader

If a market is a 'small' & closed system then yes. Fx market is keep growing (everyday new players coming in), and too large to be considered zero sum game.

The 3 Elements of a Successful Trader

Anyway Sarythsaya you are not welcome again to this thread. (see rule post #5). Thanks.

The 3 Elements of a Successful Trader

Rule: RRR at least 1 : 1.5 My TP 25 to 90 pips

The 3 Elements of a Successful Trader

I don't do scalping.. M1 chart zoom out to the smallest(equal to M5/ M15 chart) for analysis, then zoon in again for actual trading.

The 3 Elements of a Successful Trader