Less is More!

A few years ago my attention was almost totally devoted to three different projects.

I was also day-trading Euro-Dollar CFD’S on the side.

This could have been a very stupid idea.

I didn’t have a lot of time to watch the markets. I’d make my call and take my positions, always entering a target and stop loss, at the inception of every new trade.

Maybe once a day, I glanced at the rates for less than five minutes, I closed a trade or and looked at the possibility of opening a new position.

During this spell, I chalked up twenty successful trades in a row. My best every run.

The reason I believe! Neglect!

Over thinking a position is futile.

Some of the greatest sportspeople have not been wonderful speakers or students.

They have been gifted with an exceptional talent, which they didn’t over-think when the pressure was on.

With so many complex forces that can change the direction of a currency, it is easy to get lost in the ‘what if’s’. Or consider too many variables, which leaves you what I call an impotent strategy.

Your theory may sound clever, but it's about as useful as an umbrella in an avalanche.

Tags: Neglect, Success

2 members like this

Comment by Peter jcp on March 13, 2013 at 12:00am: Hi Brian - I think what you experienced during that period would be known as a technical term as ,,,,,,, LUCK ;-)). Tonight I have watched one of the best football games I have seen in years - between Barcelona FC ( mostly acknowledged as the best soccer team in the world ) v AC Milan - another top European Football team with a brilliant pedigree.

Barcelona and its key top players are noted for "over complicated" football.

They are as far away from the "boot it" and route one football as possible. They average over 600 passes a game - normal good Premier League footballer teams average around 250 -350 passes a game - so it shows how they just do not "keep it simple".

When other football teams try and copy the Barcelona way - they normally fail - mainly because they have not got the skill - experience - talent etc etc to " reach their level".

Barcelona FC play at the highest tempo and have exceptional talent - but more importantly - they can think clearly under great pressure - and perform.Players keeping it simple would just not make it in their team - they would not fit in with the DNA

When they occasionally get beaten it is normally down to them having a "bad day" and the other team being "Lucky".

I appreciate we are all different - and like Gary Player the golfer said - the more I practice - the harder I try - the luckier I get.

Don't let "luck" fool you into thinking less is more - personally the more I review and look into every detail and want to know every option etc - the better are my results. That's just me and i am sure there are "naked" chart traders who are successful and take simple decisions - like buy or sell and never look at all the possibilities etc - and are still successful - but unfortunately - they will never be like Barcelona FC - over complication at its best ;-))

So do that same exercise over say 100 trades or more - and then have a look at your results ;-)

Regards

Peter

Comment by Brian Kiely on March 13, 2013 at 6:36pm: Thanks Peter jcp and Grigore. Great comments and all opinions gratefully received. Peter I have managed a 70 to 85% run on different pairs over a year, but this was analysis that was not always traded upon.