Open trading account 
These are some of precious advice from a trader I admire and learned a lot about trading and psychology. Thought I would share it here with my Dukascopy community.
1) Also what a trader should be doing is constantly being inquisitive asking yourself why price had a major turn where it did and whether it was predictable with good probability/accuracy...that's how you develop new ways of trading"
2) We don't trade 'excellent' setups either, we trade setups that give us a positive expectancy, if traded over and over again.
3) People have to forget that retail mindset of focusing on win rate and being picky, that's not how you make decent returns in trading. Decent returns are made by focusing on trading expectancies, but most people trade scared and thus have to focus on being picky and win rate all to the detriment of their trading returns. It's one of the biggest faults in retail.
4) If you are worried about your equity curve then you either have too little confidence in your trading / too much fear or are risking too much, as drawdown relative to gains should be pretty minimal in any case.
5) Analysts 'have' to write something and have to explain the why...it can never be because of the simple price action on a chart. It's always got to be a more complicated fundamental reasoning...even when that very logic has been pulled out of his axxx. The general rule is never listen to any analyst, they are paid to offer an opinion and most of the time they are failed traders. I used to watch CNBC religiously, then I realized it added zero value to trading as they all talk a bunch of crap.
6) Forget the image, ego, fear and focus on the price action...that will tell you what the right thing to do is.
7) One of the confluences for my equities shorts was that the more mainstream analysts weren't calling a top. Always an encouraging sign when the mainstream aren't on your side. Not a massive influence but something you'd rather on your side.
8) You've got to be flexibile in price action trading and focus not only on where price will move to, but how it will move there.
9) The primary job of a trader is to make money in a risk controlled environment, never ever do I think my job is to preserve capital. If you approach trading with the mindset that trading is about not losing money and preserving capital... you'll be one of those traders that at best are destined to make small risk/reward gains. The wrong mindset approach limits how much you can achieve.The job of a price action trader is to make money in ALL market conditions, those that can't - and there are tons of them on twitter...are nothing more than glorified system or pattern traders.
1) Also what a trader should be doing is constantly being inquisitive asking yourself why price had a major turn where it did and whether it was predictable with good probability/accuracy...that's how you develop new ways of trading"
2) We don't trade 'excellent' setups either, we trade setups that give us a positive expectancy, if traded over and over again.
3) People have to forget that retail mindset of focusing on win rate and being picky, that's not how you make decent returns in trading. Decent returns are made by focusing on trading expectancies, but most people trade scared and thus have to focus on being picky and win rate all to the detriment of their trading returns. It's one of the biggest faults in retail.
4) If you are worried about your equity curve then you either have too little confidence in your trading / too much fear or are risking too much, as drawdown relative to gains should be pretty minimal in any case.
5) Analysts 'have' to write something and have to explain the why...it can never be because of the simple price action on a chart. It's always got to be a more complicated fundamental reasoning...even when that very logic has been pulled out of his axxx. The general rule is never listen to any analyst, they are paid to offer an opinion and most of the time they are failed traders. I used to watch CNBC religiously, then I realized it added zero value to trading as they all talk a bunch of crap.
6) Forget the image, ego, fear and focus on the price action...that will tell you what the right thing to do is.
7) One of the confluences for my equities shorts was that the more mainstream analysts weren't calling a top. Always an encouraging sign when the mainstream aren't on your side. Not a massive influence but something you'd rather on your side.
8) You've got to be flexibile in price action trading and focus not only on where price will move to, but how it will move there.
9) The primary job of a trader is to make money in a risk controlled environment, never ever do I think my job is to preserve capital. If you approach trading with the mindset that trading is about not losing money and preserving capital... you'll be one of those traders that at best are destined to make small risk/reward gains. The wrong mindset approach limits how much you can achieve.The job of a price action trader is to make money in ALL market conditions, those that can't - and there are tons of them on twitter...are nothing more than glorified system or pattern traders.
