No One Cares About Your Trading Success Like You Do

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Best Binary Options Broker 2020!
    Good Choice for Beginners!
    Free Trading Education, Free Demo Account!
    Get a Sign-Up Bonus Now!

  • Binomo
    Binomo

    2nd in our ranking!

I have the secret ingredients but won’t tell you

Anyone knows why many gurus, pros, red flag users, tease others on this forum.

So it goes like this:

  1. Someone post a question or topic to discuss
  2. Pros come in and and start BS, you can’t do this or that, instead
  3. They start to tease the op by giving hints, pretending they know it but at the same time
  4. They say something like I don’t want to to tell you
  5. Seriously if you don’t want to say it, don’t.
  6. Why on earth you say something like. I’ll not give you the answer but open a chart and do this or that.
  7. Some BS even post charts or screen shots or trades without saying what and how they do what they do.

If you want to help others, be open and say it.

Some users here have many followers, and I guarantee not a single follower knows what’s going on.

What’s the point of saying I have the secret ingredients but won’t tell you.

  • Post # 2
  • Quote
  • May 25, 2020 5:16am May 25, 2020 5:16am

Obviously with other variations, such as they give you the entry but not the exit or entry and exit but not the money management etc..

Or they post countless posts and no one knows what is going on.

The point is either say it fully or don’t..

  • Post # 3
  • Quote
  • May 25, 2020 5:27am May 25, 2020 5:27am
  • Post # 4
  • Quote
  • May 25, 2020 5:42am May 25, 2020 5:42am

This is how you get a cult following going, with devotees claiming to see the light without any evidence or proof.
Once you have a large enough following. aim to convert at least 50% into sales.
Then you smack them with an exclusive website with subscription fees, of course, that will make them financially independent
within months. Magic indicators will be provided only with subscription to the website.

Seen all this before, not saying that it doesn’t work or anything, what is important though, is if it fits with your style of trading.

  • Post # 5
  • Quote
  • May 25, 2020 5:55am May 25, 2020 5:55am
  • Post # 6
  • Quote
  • May 25, 2020 5:59am May 25, 2020 5:59am

See if you have the secret ingredients, well done for you, I’m 100% happy for you.

But when you say I have it but won’t tell you then you remind me with the school kids. You know what I’m talking about..

  • Post # 7
  • Quote
  • May 25, 2020 5:59am May 25, 2020 5:59am
  • Post # 8
  • Quote
  • May 25, 2020 6:00am May 25, 2020 6:00am
  • Post # 9
  • Quote
  • May 25, 2020 6:00am May 25, 2020 6:00am
  • Post # 10
  • Quote
  • May 25, 2020 6:04am May 25, 2020 6:04am

That’s fine and no one cares about their secrets.

My question is simple.: why do you say you have secrets but I won’t tell you.?

  • Post # 11
  • Quote
  • May 25, 2020 6:23am May 25, 2020 6:23am
  • Post # 12
  • Quote
  • May 25, 2020 6:42am May 25, 2020 6:42am

You don’t get it sorry.

No one is asking them for a to Z method. There is a big difference between:

  1. Hey I need help give me your secrets.
  2. I have a secret but won’t tell you

Here we are discussing 2.

  • Post # 13
  • Quote
  • May 25, 2020 6:51am May 25, 2020 6:51am
  • Post # 14
  • Quote
  • May 25, 2020 6:56am May 25, 2020 6:56am

So I do NOT need you to buy / subscribe / pay anything until for whatever reason I would decide to launch commercial activities and to offer a product / service in any way (in case that I feel that such legit activities would be financially worth it in the first place).

  • Post # 15
  • Quote
  • May 25, 2020 6:56am May 25, 2020 6:56am

Don’t make it personal, if someone in the streets, knocked on your door and told you they have a secret (regardless of it) but won’t tell you, what do you make of them?

If you have few secrets but you won’t share, WHAT IS THE POINT OF SAYING “you have few secrets but you won’t share”?

By the way, no one cares!

  • Post # 16
  • Quote
  • May 25, 2020 6:58am May 25, 2020 6:58am

I’ve got a million dollar secret can’t tell you what it is I’m keeping it to myself I won’t give it away I’ve got a million dollar secret Hope I have the courage to keep it in Won’t give in and just give it away If you really wanna know, baby, come a little closer and I’ll whisper in your ear if you really need to know, baby, come a little closer and I’ll whisper in your ear maybe I’ll have forgotten what I was gonna say but come a little closer let me whisper in your ear anyway Anyways You can ask over and over but I’m not ready to tell ‘cause I have all your attention this feeling is suspended in air and I can keep it as long as I may need it have all your attention as long as it’s a mystery I’ve got this million dollar secret I think it’s best for now that I hold strong but maybe I’ll share it at the end of this song

20 Rules Followed by Professional Traders

Booking reliable profits in financial markets is harder than it looks at first glance. In fact, unofficial estimates suggest that more than 80% of would-be traders eventually fail, wash out, and turn to safer hobbies. But the brokerage industry rarely publishes client failure rates because they’re likely concerned the truth will scare off new accounts. In reality, the washout rate could be much higher than 80%.

Indeed, success in trading is difficult and the consistently profitable traders share specific rare characteristics. These 20 rules are tips that long-time pros use to stay in the winner’s circle.

The Road to Long-Term Profitability

Long-term profitability requires two related skill sets. The first is to identify a set of strategies that make more money than they lose and then to use the strategies as part of a trading plan. Second, the strategies must perform well while the market experiences both bull and bear impulses. In other words, while many traders know how to make money in specific markets, like a strong uptrend, they fail in the long run because their strategies don’t adapt to inevitable changes in market conditions.

Key Takeaways

  • Profitable trading is difficult and successful traders share specific rare characteristics.
  • It is estimated that more than 80% of traders fail and quit.
  • One key to success is to identify strategies that win more money than they lose.
  • Many traders fail because strategies fail to adapt to changing market conditions.
  • Classic rules from pro traders can help keep a sharp focus on profitability.

Can you break away from the pack and join the professional minority with an approach that increases odds for long-term prosperity? Can you separate from the herd of wannabe traders and achieve trading success? Start with a clear and concise plan with proven strategies and then leverage the 20 rules that follow.

1. Stick to Your Discipline

Discipline can’t be taught in a seminar or found in expensive trading software. Traders spend thousands of dollars trying to compensate for their lack of self-control but few realize that a long look in the mirror accomplishes the same task at a much lower price. The important lesson is that, once a trader has confidence in their trading plan, they must have the discipline to stay the course, even when there are the inevitable losing streaks.

2. Lose the Crowd

Long-term profitability requires positioning ahead of or behind the crowd, but never in the crowd because that’s where predatory strategies target. Stay away from stock boards and chat rooms, where people are less than serious and many of them have ulterior motives.

3. Engage Your Trading Plan

Update your trading plan weekly or monthly to include new ideas and eliminate bad ones. Go back and read the plan whenever you fall in a hole and are looking for a way to get out.

4. Don’t Cut Corners

Your competition spends hundreds of hours perfecting strategies and you’re in for a rude awakening if you expect to throw a few darts and walk away with a profit. The only way to achieve long-term success is with hard work and discipline.

5. Avoid the Obvious

Profits rarely come from following the majority or the crowd. When you see a perfect trade setup, it’s likely that everyone else sees it as well, planting you in the crowd, and setting you up for failure.

6. Don’t Break Your Rules

You create trading rules to get you out of trouble when positions go badly. If you don’t allow them to do their job, you’ve lost your discipline and opened the door to even greater losses.

7. Avoid Market Gurus

It’s your money at stake, not theirs. Keep in mind that the guru might be talking up their own positions, hoping the excited chatter will increase their profits, not yours.

8. Use Your Intuition

Trading uses the mathematical and artistic sides of your brain so you need to cultivate both to succeed in the long run. Once you’re comfortable with math, you might want to try to enhance results with meditation, a few yoga postures, or a quiet walk in the park.

9. Don’t Fall in Love

If you’re too in love with your trading vehicle or investment, you give way to flawed decision-making. It’s your job to capitalize on inefficiency, making money while everyone else is leaning the wrong way.

10. Organize Your Personal Life

Whatever is wrong in your life will eventually carry over into your trading performance. This is especially dangerous if you haven’t made peace with money, wealth, and the magnetic polarity of abundance and scarcity. Keep your trading needs separate from your personal needs, and take care of both.

11. Don’t Try to Get Even

Drawdowns are a natural part of the trader’s life cycle. Accept them gracefully and stick to the time-tested strategies you know will eventually get your performance back on track. Don’t try to make up for a losing trade by trading more. Revenge trading is a recipe for disaster.

12. Watch for Warnings

Big losses rarely occur without multiple technical warnings. Traders routinely ignore those signals and allow hope to replace thoughtful discipline, setting themselves up for pain. In short, keep an eye out for early signs that market conditions are changing and creating risks to your positions.

13. Tools Don’t Think

Some traders try to make up for insufficient skills with expensive software, prepackaged with all sorts of proprietary buy and sell signals. These tools can interfere with valuable experience when you think the software is smarter than you are. Use tools that fit well with your trading plan, but remember that, ultimately, you are the one calling the shots.

14. Use Your Head

It’s natural for traders to emulate their financial heroes, but it’s also a perfect way to lose money. Learn what you can from others, then back off and establish your own market identity, based on your unique skills and risk tolerance.

15. Forget the Holy Grail

Losing traders fantasize about the secret formula that will magically improve their results. In reality, there are no secrets because the road to success always passes through careful choice, effective risk management, and skilled profit-taking.

16. Ditch the Paycheck Mentality

We’re taught to grind through the work week for a paycheck. This pay-for-effort reward mentality is at odds with the natural flow of trading wins and losses during the course of a year. In fact, statistics indicate that most annual profits are booked on just a handful of trading days.

The number of actual trading days during a typical calendar year, as most markets are closed for holidays and weekends.

17. Don’t Count Your Chickens

It is okay to feel good about a trade that’s going your way, but the money isn’t yours until you close out or cover the position. Lock in what you can as early as you can, with trailing stops or partial profits, so the hidden hands of the market can’t pickpocket your gains at the last minute.

18. Embrace Simplicity

Focus on price action, understanding that everything else is secondary. Go ahead and build complex technical indicators, while keeping in mind that their primary function is to confirm or refute what your eye already sees.

19. Make Peace With Losses

Trading is one of the few professions where losing money every day is a natural path to success. Every trading loss comes with an important market lesson if you’re open to the message. Also, know when to quit and take a break from trading. Accept the losses, take time to regroup, and then come back to the market with a new perspective.

20. Beware of Reinforcement

Active trading releases adrenaline and endorphins. These chemicals can produce feelings of euphoria even when you’re losing money. In turn, this encourages addictive personalities to take bad positions, just to get the rush. If you’re trading to achieve a rush and excitement, you are probably trading for the wrong reasons.

The Bottom Line

Most traders fail to tap their full potential, eventually cashing in their chips and finding more traditional ways to make money. Become a proud member of the professional minority by following classic rules designed to keep a razor-sharp focus on profitability.

19 Trading Quotes To Help You Trade Better

By Galen Woods in Trading Articles on October 21, 2020

When I feel fidgety while waiting for a trade to pan out, I read trading quotes. Trading quotes are short, so I can read them quickly without affecting my trading. They are also relevant and help me to keep the right trading perspective.

Here, I’ve picked 19 trading quotes from 19 traders/investors. To present a wide range of ideas, I kept to one rule when building this list of quotes – one quote from one trader.

Independent Thinking

If you want to have a better performance than the crowd, you must do things differently from the crowd.

Sir John Templeton

This trading quote applies not just to your trading method, but your attitude towards trading.

Most people are looking for ways to get rich quick and do not want to put in real effort to learn. Be different.

There is no single market secret to discover, no single correct way to trade the markets. Those seeking the one true answer to the markets haven’t even gotten as far as asking the right question, let alone getting the right answer.

Traders who ask think that there’s one answer. Traders who think know that they must find their own answers.

Simplicity

The business schools reward difficult complex behavior more than simple behavior, but simple behavior is more effective.

Quantitative finance? Trading algorithms? Dozens of indicators? Or just plain old price action.

Patience

Time is your friend; impulse is your enemy.

Jack Bogle is talking about time in the context of a passive portfolio. But this trading quote applies to traders of all time frames. Always allow enough time for your trading position to prove itself.

One characteristic I’ve found among successful traders is that they function effectively when they’re not trading. When markets become very quiet and range bound, they occupy themselves with a variety of activities, from sharing ideas with peers to conducting research. Traders who do not tolerate inactivity well inevitably feel the need to trade, often when there is no objective edge present. For them, losing money is less onerous than experiencing boredom.

In a nutshell, good traders don’t feel that they need to trade.

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.

Raise your threshold for taking a trade. Don’t take a trade until you “see money lying in the corner”.

Hardwork and Effort

No profession requires more hard work, intelligence, patience, and mental discipline than successful speculation.

As I’ve written at length in this article, most people have easier ways to make money.

A trading philosophy is something that cannot just be transferred from one person to another; it’s something that you have to acquire yourself through time and effort.

In my trading course, I’ve wrote that if you achieve trading success, you have no one to thank but yourself.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Best Binary Options Broker 2020!
    Good Choice for Beginners!
    Free Trading Education, Free Demo Account!
    Get a Sign-Up Bonus Now!

  • Binomo
    Binomo

    2nd in our ranking!

If you succeed as a trader, it’s because you’ve developed your own trading philosophy. And not because you’ve adopted mine.

Emotions

The market does not know if you are long or short and could not care less. You are the only one emotionally involved with your position. The market is just reacting to supply and demand and if you are cheering it one way, there is always somebody else cheering it just as hard that it will go the other way.

A mental state of not caring is essential for trading well. The market does not care about your position. If you care more than the market does, you cannot think like the market.

Losing money is the least of my troubles. A loss never troubles me after I take it. I forget it overnight. But being wrong – not taking the loss – that is what does the damage to the pocket book and to the soul.

Letting a loss drag on is really damaging to your mind. It shatters your confidence and makes you want to slap yourself. Take the loss and save your soul.

Beginners focus on analysis, but professionals operate in a three dimensional space. They are aware of trading psychology their own feelings and the mass psychology of the markets.

Beginners tend to pay lip service to the importance of emotions. Only seasoned traders appreciate its importance. It usually takes time in the market and a lot of losses for this message to sink in.

Don’t worry about what the markets are going to do, worry about what you are going to do in response to the markets.

Control the only thing you can, and that’s you. Instead of guessing the unknown, plan your response.

Price Action

Volatility is greatest at turning points, diminishing as a new trend becomes established.

This trading quote is a great piece of insight for designing a price based trading strategy.

The markets are the same now as they were five or ten years ago because they keep changing-just like they did then.

This is why price action analysis lives on, in evolving forms.

Risk Control and Losses

Throughout my financial career, I have continually witnessed examples of other people that I have known being ruined by a failure to respect risk. If you don’t take a hard look at risk, it will take you.

Once you have a trading edge, the most important thing to do is to control your risk until your profits arrive.

If I have positions going against me, I get right out; if they are going for me, I keep them… Risk control is the most important thing in trading. If you have a losing position that is making you uncomfortable, the solution is very simple: Get out, because you can always get back in.

You are just one commission away from getting back into the market. Don’t hesitate to get out.

Limit your size in any position so that fear does not become the prevailing instinct guiding your judgment.

Position sizing is important. Never trade larger than what you are capable of, both mentally and financially. If you do so, there is no way you can trade well.

We want to perceive ourselves as winners, but successful traders are always focusing on their losses

Getting our ego out of the way is important. Trading is a tricky profession.

Common sense tells you that traders must trade and should think about how to make money.

Experience will tell you that traders must not trade unless “there’s money lying in the corner”. And they should think about how not to lose money.

On Trading Quotes

Trading isn’t simple enough to be boiled down to a punchy quote.

Well, never forget the contrarian.

Share your favourite trading quote with us in the comments below!

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Best Binary Options Broker 2020!
    Good Choice for Beginners!
    Free Trading Education, Free Demo Account!
    Get a Sign-Up Bonus Now!

  • Binomo
    Binomo

    2nd in our ranking!

Like this post? Please share to your friends:
How To Start Binary Options Trading 2020
Leave a Reply

;-) :| :x :twisted: :smile: :shock: :sad: :roll: :razz: :oops: :o :mrgreen: :lol: :idea: :grin: :evil: :cry: :cool: :arrow: :???: :?: :!: