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Trading Forex is Hard

Quoting javipenjamo
I have a lot to learn...in the examples that you expose in both I would have had losses. In the veni graph I see that the impulses are the same as the setbacks or I would be out or I would surely have entered late. And in the Fenix graph I would have stayed with the previous range looking for a buy and in the fall it would hit me... there is much to learn
no way to deny your message , but any kind of learning can be useless if there is no regular level of practice.
This is a fantastic free manual by Tom Hougaard and I hope it helps whoever needs it.

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Quoting venividivici
{quote} I havent counted, but I aim for about 20 pips a day and I live off trading nothing else.
Do you live from trading? You dont have other income?

In this case it is very nice!!! It is very rare.
Quoting Tylerz
{quote} Do you live from trading? You dont have other income? In this case it is very nice!!! It is very rare.
Yes he is.

I am just starting with this kind of a style. Some entries were bad as price just reversed
But getting better with every entry, even made profit on real account.
Quoting jmaster
{quote} Yes he is. I am just starting with this kind of a style. Some entries were bad as price just reversed But getting better with every entry, even made profit on real account.
do you know him?
How this trader turned $200 into $190,000 in 4 hours - YouTube

Keep telling yourself it can't be done.
Keep telling yourself it is impossible.
Keep telling yourself those things.
Quoting venividivici
How this trader turned $200 into $190,000 in 4 hours - YouTube Keep telling yourself it can't be done. Keep telling yourself it is impossible. Keep telling yourself those things.
of course it is possible. we both know it and we'll do it! ;P

SF
Quoting venividivici
How this trader turned $200 into $190,000 in 4 hours - YouTube Keep telling yourself it can't be done. Keep telling yourself it is impossible. Keep telling yourself those things.
That's essentially the same thing as finding a documentary of a lottery winner, and saying "See, with 5$ you can turn it into 35 million, or keep telling yourself you can't do it...".

Have you even watched the video?? Because let's say I wanted to show someone what can be done in trading, in terms of achievements and performance, out of the millions of videos out there, this would probably be the last. The kid was absolutely CLUELESS as to what he was doing, didn't even know what his indis / template was, and was brainlessly clicking a button to get filled whenever he had enough margin.

Typical retail degenerate gambling behavior, so yeah, you can flip a small account into a big one, but with an even smaller initial investment of a few dollars, you can turn it into MILLIONS!!

BTW, this video is the typical example of survivorship bias.
Quoting Oliver.Twist
{quote} That's essentially the same thing as finding a documentary of a lottery winner, and saying "See, with 5$ you can turn it into 35 million, or keep telling yourself you can't do it...". Have you even watched the video?? Because let's say I wanted to show someone what can be done in trading, in terms of achievements and performance, out of the millions of videos out there, this would probably be the last. The kid was absolutely CLUELESS as to what he was doing, didn't even know what his indis / template was, and was brainlessly clicking a button...
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I guess guys like me can pull 'lottery tickets' out of their ass when we aren't feeling lazy.
My broker pays me a lot of cashbacks on commissions. Which strategy is good for opening 10 lots a day?
Quoting Oliver.Twist
{quote} That's essentially the same thing as finding a documentary of a lottery winner, and saying "See, with 5$ you can turn it into 35 million, or keep telling yourself you can't do it...". Have you even watched the video?? Because let's say I wanted to show someone what can be done in trading, in terms of achievements and performance, out of the millions of videos out there, this would probably be the last. The kid was absolutely CLUELESS as to what he was doing, didn't even know what his indis / template was, and was brainlessly clicking a button...
That's not what we're interested in. I honestly don't care if the guy knew what his indicator was or whatever. The important thing is what he did, and that he didn't lose any money. If a guy can find a high or a low, he can do virtually the same thing. Maybe not in 4 hours, but maybe in a month. This is possible.
He was mostly lucky on the downtrend. That's true, but it doesn't matter that much.

SF
Quoting venividivici
{quote} {image} I guess guys like me can pull 'lottery tickets' out of their ass when we aren't feeling lazy.
Just to be clear, I wasn't saying being profitable or putting some winning trades isn't possible, not sure why you're taking it personally. Those are good trades, congrats.
The choice of this video is very poor for anything regarding good practices in trading. Do people really need that example to realise that when you click blindlessly a buy or sell button and get extremely lucky in an impulsive move up or down, yes you can win big? That's the same as me opening a full margin trade on GJ (it seems to go up this morning, I don't know) and if I double my account I can go "see, anything is possible".

On his trade, his sizing was so disproportionately weighted that any kind of pullback would have destroyed his floating profit. And he had absolutely no idea of trade management, no exit plan. But hey, let's not focus those non existant money management techniques, the guy clicked buttons repeatedly and won big!
Quoting venividivici
{image} Entries are the arrows after stops get taken out on each of those areas. Yes there will be losses, small ones if you trade on 1min. Opportunities? Countless everyday per pair. If you think this is hard to make money with, I dont know what to say to you. No technical analysis. No Fundamentals. No Indicators. Wake up in the morning and get your money.
Hi venividivici !

Is your method similar to this schematic?
thanks
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  • Post #516
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  • Last Post: Jul 1, 5:40pm (22 hr ago) Jul 1, 5:40pm (22 hr ago)
Hi everyone,

Veni and whoever thinks that can help,

I'm struggling with my exits, is more they are killing me. My entries are fine actually they are very good but my exits are killing me.
Sometimes I go for small profits and leave a lot on the table so next trade let's leave room to run but turns and no profit basically I do not know when to let them run or take profit all this leads to frustration which makes me overtrade and become inpatient.

Im asking in this thread because I use the same strategy for entries also on the 1 min chart. For example with veni exits I see that you post many times 3-5 trades of around 7 pips and then boom 100 pips!!!!!
So how you differentiate between ok let's go for 7 pips to go to a massive move.
I have considered to exit mechanically with a big range candle, on my studies many times is the perfect exit but other times is not and that is what is frustrating not having a clear criteria like with the entries

Please help!!!!!!

Thanks guys
Kind regards
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