What Was Your quotAhaa!quot Moment
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thread: What Was Your quotAhaa!quot Moment

  1. #1

    What Was Your quotAhaa!quot Moment

    Hi Everybody,

    Once in a while I'll read a comment from an experienced trader They Believe a Ahaa! Moment in their learning curve. I think that it would be great to make a group of them.

    Therefore, if you're a competent trader having a winning record would you be willing to share a few of these Ahaa! moments? (I understand this could attract a lot of hilariously humorous and amusing comments, but I am looking for valuable insights!) .

    Thanks,

    Griff

  2. #2
    This could turn into a thread that is very wonderful.

    In my instance, I dont think there has been one particular ahaa! Kind of inflexion in my trading but instead a painful and slow evolution. However, I did see a substantial jump in my profitability when...

    1) When I broadened from sticking only to the seven majors, into all the 22 cross currencies offered by my broker. I am a trend trader and sometimes I would take less-than-optiomal trades because I had 7 pairs to choose from. I daily scan 22 pairs and there's ALWAYS at least one of these which is well and easily trending, incrementing a sound setup to trade off's odds.

    2) When I started taking horizontal levels of support/resistance into the equation. Before, it was about the trendlines for me personally. I am more inclined to look for levels of flat S/R (previous swings high/lows, station tops/bottoms, etc). Drawing those flat lines has provided me with a better picture of what is actually happening in the market.

    3) When I started enlonging (spelling?) My positions from mere 10-pip fast scalps into healthy 30, 40 or 50 pip intraday price targets.

    4) And, of course, when I realized that the key of trading isn't within the specialized analysis itself but instead within the patience and discipline to sit on your hands without trading before the very best setup pops on the screen. There is no ahaa! Moment more significant than that.

  3. #3
    Junior Member pknino_mdc's Avatar
    22
    I have had a few. They appear to come in my period of greatest need. They are the reason behind my pip gains.

  4. #4
    Senior Member layunny's Avatar
    195
    Hi Everybody,

    Once in a while I'll See a comment from an experienced trader that they Believe a Ahaa! Second in their learning curve. I believe it would be great to generate a group of them.

    Therefore, if you are a capable trader with a winning record would you be willing to share some of these Ahaa! moments? (I understand this may attract a lot of hilariously humorous and sarcastic comments, but I am looking for valuable insights!) .

    Thanks,

    Griff
    The first time I sat down and really figure out the expectancy of a system.

  5. #5
    Junior Member mgpenelope2222's Avatar
    4
    Well the very first time my ahaa was years back when I jump on a trade with all my damn great analysis and suddently the news kill all the TA (let me remember..in about two minutes or something I lost 1/4 of my equity.damn..it's become the most expensive ahaa within my trade.tsk tsk can't be helped.damnn nfp I wish I know you sooner.

  6. #6
    Senior Member Strikersipk's Avatar
    201
    According to my bankroll I wouldn't be contemplated experienced, but I believe I finally had my'Ahaa' moment.

    I will concur with WTB somewhat on his points 1 and 2. For weeks/months I studied GBP/USD. I attempted to create a method. I went no where. First it was just like I wanted it to based in my system, that it was not trading. Then it was that my system was. I expected to find some thing to produce 50 pips a week, each week based on precisely the same type of signals. Day in and day out I researched price action models, chances based trading, grid trading, carry trades, etc.. Again, I went no where.

    My first'Ahaa' moment was finally having a peek at other currencies uncorrelated to GBP/USD. GBP/USD may proceed the quickest, but you can make a lot of money playing currencies. Pretty much any major currency will give you the opportunity to pull 50-100 pips from it throughout the week. Or do exactly because the'turtles' did using their trading. Normalize your risk across all positions by placing your entire account to slower pairs and less into more volatile pairs. Trade double your lot size in eur/gbp and tell me it is not explosive enough to trade. Just find other uncorrelated pairs and you'll be likely to find something. No need trying to kill yourself at the volatile pairs although you can more accurately forecast slower pairs, but increase the lot size to equal the exact identical risk you'd incur with much more volatile pairs.

    The second'Ahaa' moment was moving back to my trading style that I had once I traded shares. I thought Foreign Exchange was so different because it was two way trading, which I needed to throw my old customs away. I started researching all these systems that threw out indiors such as MACD, RSI, etc.. I'm finally coming back to MACD, RSI, price action trading. It's entirely discretionary according to myself. I don't have to wait for a cross or anything similar to this. It takes a lot more time but I think the human mind is a lot more powerful than any EA or easy'MA Cross' system you'll find. I can look at the scenario personally and utilize advice from MACD/RSI and price action from the past that the purely seat of your trousers system can not. Slow down your charts to 1/2/4 hour and you'll have a lot of time to consider your alternatives. Down charts helps your profits tremendously by how. That needs to be an'Ahaa' moment there too.

    People also say you should not utilize indiors because they lag. That is accurate, but it is a lot harder to tell what's currently going on from the market without indiors. Price action won't tell you oversold/overbought/momentum or other stuff. You can look in a trendline break and believe momentum may be shing, or you can look at important indiors like MACD/RSI and get more confirmation that the tides are turning. I'm a huge fan of divergences. If I see a divergence then I will watch that pair understanding a reversal is coming. Then I let price action affirm it and enter the trade. SIMPLE. Utilize indiors to paint you a picture that's hard to see in the price action, but do not use them to time entries. You do not profit if RSI climbs from 30 to 50. You profit when price climbs from 120.30 to 120.50. (Assuming you went . )

    I feel this is helping my trading tremendously. I feel confident letting my winners operate, and, more to the point, entering transactions. I can rest assured knowing that a 30-50 pip swing against my commerce does not signify a reversal and that I'm still on the favorable side. I finally came back to my old easy style because I understood that from the weeks and months of studying that I missed a lot of opportunities. GBP/USD had a great conclusion to 2006. I missed out on GBP/JPY until it hit the resistance degree from 1997. I may wait on that, although it may be broken by it. I also understood that posting and all my reading was getting me no where. I went through systems . I could have made bank just by recognizable chart reading.

    That brings me to my last'Ahaa' moment. Trade your own way. Unless you're a noob do not bother reading all these threads about great new systems that pull 300 pips a week. It won't work for you if you can not trade the system then. Read up on the fundamentals such as price action, the key indiors, and other trading tools. Use what makes sense.

    What I've also found is that I understand how I'm supposed to be trading it gives me a while to read a few of this Foreign Exchange news. So I trade technically, and know a little of what is happening fundamentally with my own trade. To me that is smart trading. You may not agree with me, but that is the purpose. It's working for me. Find what works for you and be happy. Matt

    p.S. - sorry for the lengthy response. I do this. Can not help it.

  7. #7
    First Ahaa... Attending my first forex debut seminar

    Secondly Ahaa... Creating my first account demo trade

    Third Ahaa... Making my first live account transaction

    Fourth Ahaa... Finding a system which profited well and consistantly.

    Fifth Ahaa... Trading full-time

    Sixth Ahaa... Incorporating an L.L.C. and trading as a Company

  8. #8
    Junior Member mgpenelope2222's Avatar
    4
    Well I can add here I guess.:
    all of your ahaa minute from first to sixth ahaa closed by a different ahaa-ahaa (lots of ahaa) in bed rite? Be honest with me pals. Just kidding.so many ahaa you have.:

    First Ahaa... Attending my first forex debut convention

    Secondly Ahaa... Creating my first account demonstration transaction

    Third Ahaa... Making my first live account commerce

    Fourth Ahaa... Locating a system that profited well and consistantly.

    Fifth Ahaa... Trading full-time

    Sixth Ahaa... Incorporating an L.L.C. and trading for a business

  9. #9
    I'm not a pro but that has affected the way I think about what.

    I read it in Trading in the Zone - Casinos make an enourmous quantity of money without knowing that the consequence of the following role of the dice or spin of the wheel. You can be sure of the very long term result with having.

    It goes past trading - say your in earnings or moving for a job interview or attempting to beat your PB in game. The procedure is decided by you, however you don't determine the outcome of events.


    Regards,

  10. #10
    Member Cerpa's Avatar
    38
    My Aha second was when I first saw the video for Take on Me. It was rad...

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