The struggles of a Forex trader - Page 2
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Thread: The struggles of a Forex trader

  1. #11
    Quote Originally Posted by ;
    Your anecdote isn't data. There is no data available demoning that you are prone to”probably win” as a swing or position trader versus other methods, actually the data demones completely the reverse. You're clumsily attempting to force your very own recent experiences as data on here, because for a brief, recent period, it is worked for you. As I tell all swing traders;”looks simple eh? Now get back to me when the trend turns, inform me how you swing commerce that.” quote
    PS: I'm only doing what you've posted on this forum would be possibly the only viable method to generate money out of retail forex. Its clear you actually do understand trading and spreadbetting so even in the event that you don't understand exactly what I do, I'm pleased to carry on doing it.

  2. #12
    I'd like to thank everybody for sharing so far. Keep the responses coming in. My experience was a period of success and a period of absolute tragedy. So far this calendar year 2018 I have made money one week and gave it all back another week. I want to be consistent. I believe my human nature might get in the way of the consistency. I have thought of finding a fantastic robot to perform my trading for me personally. In all my years of trading I have not actually experimented with a robot earlier.

    Sunday is here again. I am always excited to begin with another trading week. What methods are you guys going to be trading this past week? This week I am likely to be trading 1 hour within bars at the course of the daily open. I've got a clear set of rules and I will stick with it during the week.

    Thank you for added to this conversation. I look forward to reading me posts so keep them coming in.
    Happy trading this week.

  3. #13
    Quote Originally Posted by ;
    I would like to thank everybody for sharing up to now. Keep the answers coming in. My experience has been a period of success and also a period of absolute tragedy. So far this calendar year 2018 I have made cash weekly and gave it all back the next week. I want to be consistent. I believe my nature might get in the way of that consistency. I have thought of finding a fantastic robot to do my trading for me personally. In all of my years of trading I have not really experimented using a robot before. Sunday is here again. I'm always excited to get started with a different...
    I know next to nothing about day-trading. However, if that is the system you use, why are not you making money consistently?

  4. #14
    Pretty much everything published now and in the future on this thread will have been covered in an old thread of mine' Trader's Academy', but of course there is always space for more conversation, so good luck.

    So far as I'm concerned, there is only one method to improve one's trading results, and that's to ascertain what you are doing wrong, then take concerted measures to fix it. The number one reason why traders lose isn't having sufficient knowledge and experience of the markets - insufficient mileage as it had been. Unless a trader understands exactly what he or she's performing, with knowledge acquired over the years through much trial and error, then consistent losses will inevitably occur.

    The other reason lies with the traders themselves and are plogical. Unless you can learn how to think like a trader, which is to just ever consider another 20 trades or more compared to another transaction, and totally disassociate the previous transaction from another, then you're also likely to lose. A combination of both of these above points is a cocktail for whole tragedy, meaning loss after loss after loss. Many inexperienced traders fall into this egory, hence the high failure rate. Learning how to exchange for a living has become the toughest endeavor most people will ever undergo in our lives, and those who underestimate this can ultimately fail.

    There is masses written on this on the Trader's Academy thread, not by myself, but by others, so along with this particular thread, some of you may want to have a look. I don't post there myself as it ran its course, but it's there if anyone wishes to look.

    There is no chance in trading, but I need this thread well. Since the thread starter said, trading is a lonely business, and it's always goo to see what fellow traders are thinking and to discuss experiences.

  5. #15
    Quote Originally Posted by ;
    Pretty much everything published today and in the future on this thread will have been coated in an old thread of mine' Trader's Academy', but of course there's always space for more discussion...
    Not wanting to disagree, you made great points, but im sure there are traders whom are aware of the usual pitfalls. But have yet to become profitable.

    In my opinion the problem stems not just in the trader, but in the community as well.
    We hear folks throwing out cliche phrases like risk 1-2percent of your capital each transaction or Cut your losers and let your winners ride or at least 1:1 risk reward ratio. Im sure not alot of people may question the logic behind such statements, if they did, Im sure they stop as soon as they recieve a shallow rationale. Without digging further, people simply accept what is preached as though it is a universal law. And keep to throw these phrases at the following person. And the next man to another. And so that's the way common quotes with no intention of addressing anything more than the circumstance it was used in become a commandment.

    With that said, I just hope that retail traders as a community will attempt to believe critically. It is my humble opinion that being curious and critical can bring our trading into another level.

  6. #16
    Quote Originally Posted by ;
    ....My experience has been a time of success and a time of absolute tragedy. So far this calendar year 2018 I have made money one week and gave it all back the next week. I want to be more consistent. I believe my human nature might get in the way of the consistency....
    Hello fxtrader29ca,
    You clearly do understand some thing about trading, this quote and your strapline informs me . You probably do understand exactly what you have to do to be consistent, you just have to consider more carefully about precisely how you're going to accomplish it. I was like this for a long time, winning then losing, maybe not earning any real internet progress, simply because I could not nail consistency.

    What did it for me was to concentrate. Concentrate on just one technique. Concentrate on a very limited variety of markets and only one timeframe. Concentrate on subject, risk control and constant execution. Concentrate on only taking the correct trades to your method and concentrate on trading them well, regardless of whether every individual trade ends up a winner or loser. It is difficult, you're correct, our human nature does get in the way but you can defeat it if you try and work at it.

    Ask yourself: Can I stick to my principles? Can I do it well each and every time? Can I restrain risk really well 100% of their time? Be able to say yes to all those questions and you're 95% of the way there to achieving your lost consistency. And that is all you need if you already have some experience and an notion of a legitimate method that is suitable for you. Best of luck!

  7. #17
    What do you mean #8220;finding a robot8221;? If I had been able, I'd quit trading today and pour all of your efforts into learning how to use the basic language accessible on MetaTrader; MQL4.

    Https://www.metatrader4.com/en/autom...l4-programming

    There#8217;s separate forums on here to assist you, in a stroke, after you8217;re trading through E.A.s/code/algorithmically, some ridiculous excuses peddled, such as #8220;poor plogy#8221;, are subsequently eradied.


    Quote Originally Posted by ;
    I'd like to thank everybody for sharing so far. Keep the answers coming in. My experience has been a period of success and also a period of absolute tragedy. So far this year 2018 I have made cash weekly and gave it all back another week. I need to be consistent. I believe my nature might get in the way of that consistency. I have thought of finding a fantastic robot to perform my trading for me. In all of my years of trading I have not really experimented using a robot before. Sunday is here again. I'm always excited to begin with a different...

  8. #18
    Quote Originally Posted by ;
    What do you mean”finding a robot”? If I had been in your position, I would quit trading today and pour all of your efforts into learning how to use the basic language accessible on MetaTrader; MQL4. Https://www.metatrader4.com/en/autom...l4-programming There's separate forums on here to help you, at a stroke, once you're trading via E.A.s/code/algorithmically, some foolish explanations peddled, like”bad plogy”, are then eradied. quote
    Ridicolous excuses

    we just want to lose, we do not want to win that's it.

  9. #19
    Quote Originally Posted by ;
    quote Not wanting to disagree, you made great points, but im sure you will find traders that are aware of the usual pitfalls. But have yet to be profitable. In my view the problem stems not only from the trader, but from the community too. We hear people throwing out cliche phrases like risk 1-2% of your funds per transaction or Cut your losers and let your winners ride or at least 1:1 risk reward ratio. Im sure not alot of people may question the logic behind these statements, if they did, Im sure they cease as soon as they recieve a.. .
    Cutting down the losses short and letting profit run is a must if you're half serious.

    Yeah I do concur that risk per trade is not too relevant unless you trade for a living

  10. #20
    There are a few things which may cause a trader to fail at the beginning: 1. Deciding on an unprofitable method 2. Poor execution 3. The emotional connection to money.

    So the question remains: Are there profitable trading methods out there that we're able to execute and have the confidence to trade?

    Thank you for all your thoughts and ideas.

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