Forex Tradingwithrayner

[tradingwithrayner]

8 Negative Trading Habits That Is Hurting Your Trading

To be successful in trading, it does not stem from having the best trading tools or the fastest internet connection.

Rather it boils down to the most basic fundamental, your trading habits. Most traders fail in trading not because of their inadequacy, but their negative trading habits.

[continue reading]

Rayner

 

[shawnwong]

Like the fact that you are not afraid to post losses and 8 in a row as well. All the best, I will keep watching.

8 in a row losses is common...

 

[wahkao3]

8 in a row losses is common...

for trend following, yes
for other strategies,maybe not

 

[lasnoblur]

Thanks for sharing the losses.

having confidence in strategy is important.
8 losses can be alot to some ppl. However if strategy is correct, 1 or 2 big wins can cover them back easily and even profit substantially.

 

[tradingwithrayner]

Thanks for sharing the losses.

having confidence in strategy is important.
8 losses can be alot to some ppl. However if strategy is correct, 1 or 2 big wins can cover them back easily and even profit substantially.

Hey lasno,

Yes that's right. There will be period of draw down and period when equity is making new highs. Now is the period of draw down for me.

Rayner

 

[shawnwong]

Thanks for sharing the losses.

having confidence in strategy is important.
8 losses can be alot to some ppl. However if strategy is correct, 1 or 2 big wins can cover them back easily and even profit substantially.

Depends on the system/method one prefer.
1) small losses, big wins. Many small losses but when you win, you win big.
2) small wins, big losses. Many small wins but when you lose, you lose big.

Both r workable just depends on your preference. As for psychological aspect, I think both r just as damaging.

 

[tradingwithrayner]

Depends on the system/method one prefer.
1) small losses, big wins. Many small losses but when you win, you win big.
2) small wins, big losses. Many small wins but when you lose, you lose big.

Both r workable just depends on your preference. As for psychological aspect, I think both r just as damaging.

It would very much depend on an individual's personality and finding a strategy to fit it.

Rayner

 

[hfts_james]

MT4 for MT5 for FX trading?

 

[tradingwithrayner]

MT4 for MT5 for FX trading?

Hi James,

I've only use MT4 for charting purposes. So you may need input from someone else who trades on MT4.

Rayner

 

[hfts_james]

Hi James,

I've only use MT4 for charting purposes. So you may need input from someone else who trades on MT4.

Rayner

so how to enter trades? is there a proprietary platform provided?

 

[tradingwithrayner]

so how to enter trades? is there a proprietary platform provided?

You can enter trades on MT4 as a lot of traders use that as well.

There are tons of trading platforms out there, you can demo them before settling down with one that suits you.

You have MT4, broker's own trading platform like oanda, ig, cmc, cityindex or paid ones like ninja trader, trading technologies etc.

Rayner

 

[tradingwithrayner]

My 1 to 45 Risk Reward Trade On Crude Oil

As always, comments are welcomed and encouraged. Cheers!

Rayner

 

[tradingwithrayner]

Are Support & Resistance Random Lines On Your Chart?

Feel free to try out this little experiment yourself. As always, comments are welcomed and encouraged. Cheers!

Rayner

 

[Knight_Rider]

Feel free to try out this little experiment yourself. As always, comments are welcomed and encouraged. Cheers!

Rayner

In trading all you only need is a horizontal line.

 

[tradingwithrayner]

How Psychology Plays A Huge Part In Trading?

As always, comments are welcomed and encouraged. Cheers!

Rayner

 

[Knight_Rider]

As always, comments are welcomed and encouraged. Cheers!

Rayner

 

[tradingwithrayner]

At all time highs all holders are profitable. There is little fear to drive them to sell.

There is no selling pressure on the holders of current positions in strong up trending markets so they tend not to sell.

With the majority sitting on their current positions in bull markets short sellers tend to be the primary ones selling.

Short sellers are forced to buy back at higher prices later creating buying pressure.

They only real pressure initially on a market at new all time highs is profit taking.

With the market holding key support levels stop losses are not hit so little selling pressure is coming on properly placed stops.

In bull markets people that got great entries are just letting winners run.

The pressure is on traders and investors that missed the move to chase and buy at higher levels when they under perform day after day.

Buyers are waiting to buy dips with pull backs at many levels so they can get in at the first opportunity. This creates support at levels.

All the central banks are on the side of the bulls. You can't fight the FED.

Bull markets have no long term resistance levels.

When stocks are under accumulation it is a long process for them to start being distributed again.

Down trends have plenty of rallies.The short side of bull markets is not where the money is made.

The short side of bear markets is not even an easy path to profits much less the short side of bull markets.

- Steve Burns

 

[Xunister]

Hey Rayner,

as a trader, how long would you usually hold your position to reap an acceptable amount of profit?

Also, would three thousand dollars be just right for a person to start on Forex? I'm still trying out on demo account though.

 

[tradingwithrayner]

Hey Rayner,

as a trader, how long would you usually hold your position to reap an acceptable amount of profit?

Also, would three thousand dollars be just right for a person to start on Forex? I'm still trying out on demo account though.

Hi Xunister,

The cold hard truth is you need money to make money in trading.

So how much you can make is relative to the account size you are trading.

Example you make 30% a year trading, with a $10,000 you are looking at about $3000. If it's a $1m account, it's $300,000.

3000 is enough to start trading, but you have to manage your expectation of the kind of profits you will get in return.

I can hold my positions anyway from a day (hit stop loss) or a few months if i do catch a trend.

Hope that clears up, let me know if you're still unclear.

Rayner

 

[tradingwithrayner]

The 5 Problems With Harmonic Trading And How You Can Fix It

Have you ever heard of trading patterns called Gartley, Butterfly, Bat or even Crab?

If you did, then you probably come across harmonic trading as an approach to trading the markets.

Like most traders, I was enticed by this trading approach because it allows me to predict turning points in the market, have a good risk to reward ratio and draw beautiful patterns. [continue reading]

Rayner