Once we get into terms with ourselves, we should be okay.
We're after all, just trading.
We're after all, just trading.
If you haven't made it yet, what makes you think you will? 212 replies
Are successful traders born or made? 41 replies
Purchases you have made to help you trade: 46 replies
If you start to be successful - Will your broker close you down? 9 replies
DislikedI stopped trying to pick tops and bottoms of trends !
Instead I surfed the TREND WAVE - even though I need to work on my entry points, I found the market will "eventually" move in my direction for some pretty good $$$$.
DON'T FIGHT THE TREND ! Sit back and enjoy the trend ride ! FX trends nearly every day.Ignored
DislikedMy turning point came when I started to understand what reasonable goals were. I had the misfortune of tripling my account quickly before I knew much of anything about Forex. From then on I couldn't be satisfied with anything less. That cost me several months of reckless trading and spectacular losses.
After I gave up trying to duplicate that early fluke things got better. And then when I learned it's okay to not have a position open at all times things got better yet.Ignored
DislikedBooks and articles help, but you will soon find that nothing other the practice will get you there. Time and devotion will lead you to notice patterns that only the most successful find.Ignored
DislikedI have been involved in forex for two years and was fortunate enough to have had a lot of free time in my first year to study. I read several books but FF was my main source of information. I spent most of my first year in "system development" mode and did very little live trading. Good thing too. I lost about 30% of my account just trading occassionally.
For the most part, I looked at virtually all the systems on FF and backtested the ones that could be backtested. After looking at so many systems I began to see how stop losses, trailing stops and take profits affected the profitability of a system. Slowly, I started forming my own system that:
1. was based on "probabilities"
2. could be tested for many years
3. encompassed thousands of test trades
4. worked in all types of markets
As a result, through perserverence and creativity, I have been able to trade profitably in 2007 with a system that has a 54% win percentage. It is not very exciting but I have a lot of confidence in it over the long run.
During my first year, I spent several hours a day, everyday, learning forex. It takes an incredible amount of time to get any perspective at all. I would have never made it without forexfactory.Ignored