What helped you the most to be profitable?

I have been trading for nearly 6-7 years now, I have always struggled for consistency, but in recent times (5-6 months); I have able to work out things a lot better. The thing that has changed for me in this duration is that now I have stopped worrying too much. Previously if my trade was in loss, I would really worry too much and add more lot size or do all crazy things. But now, I just forget it and stick to what I decided while opening with set SL and TP, it has dramatically increased profit making for me and more importantly, that sudden wipe out is gone.

in assisting us in getting the first advantage is already the maximum science, experience more, and more able to risk control. Her sure if we've the intention to be successful in forex trading, the process definitely be taken seriously as well, and the results are not disappointing

Mark Douglas, "Trading in the Zone" His probabilistic mindset made all the difference.

This book set the market up in a way most others do not talk about. It is the fundamental for all my analysis!

Coding nearly every f****** strategy and evaluating it.
Better then 10K books...

I have been trading for several months now with a live account and learned a lot... unfortunately there is a price to pay when you decide to become a trader. You MUST make mistakes and learn from your mistakes, I believe that is the only way to become a profitable trader, that and screen time. I am 19 years old and in college, I remember long nights and early mornings, trying to intake as much information as I could about Forex. I practically sacrificed my GPA lol, talk about a price to pay.

There are some weeks where I would make a ton of money, but then lose it all the next week because of over-leveraging. Risk only what you are comfortable with, and manage your trades appropriately. I remember one trade where I lost 10% of my account and caught myself pulling my hair and breaking a sweat during the trade because I risked SO much on one trade. I was "sure" that the market was going to go one way... the market humbled my dumbass.

Patience and discipline. Traders fail because they overtrade. You must wait for the best trades to present itself to you, then pull the trigger. Sit on your hands, wait for the BEST trades, avoid the "I'm not sure, let's try trade" (I got this from Tunera, props to you, really opened my eyes).

Pick one pair, stick to that one pair, and learn it. You can of course increase the number of currency pairs when you get more experience but you will be stressing and trying to take in all this unnecessary data from multiple pairs, you can bank in plenty of pips with just one pair.

Ganative

So just to bring this thread full circle... Davit would you please say what your turning points have been ?

Study all market conditions.. You have to be able to identify a trend and a range in real time.. If not, you will get chop into pieces..

Great advice. I would add that it's a good idea to figure out what you trade better - range or trend - and learn to trade only during market conditions that are favourable to you.

ok so what helped me gain profit in forex and outside? its simple, use your free time wisely, like aside from trading with hotforex mostly, i still manage to keep a part time job, and small business and be happy at what i do. its not that difficult, it minimizes the chances losing by gaining from something else? haha

Stop losses I guess. They've been saving my @ss many times, I would lost fortune and couldn't survive some deadly trades if hadn't wise and scrupulously build MM system.

Frankly, my profitable trading strategy is my main strength! Yes, it provides me around 68-70% correct call! As a result, now I trade here so confidently! On the other hand, my long term trading experience also helps to pick up right decisions in my live trading!

68-70% ? if this statistic is correct then obviously you are a profitable trader.
please share more about how you make profit by your trading strategies. Please

Learning from the scratch and taking slow. Keeping journal has really been helping. Stressful at the beginning, but rewarding

Learning and understanding enough maths and statistics to be able to tell with a high degree of confidence and reliability whether or not the way I was trading had a genuine edge.

That wasn't easy, but without doing it I was never profitable.

For me, it was looking into the psychology of why i trade the way i do. This opened a new way of thinking on how to manage emotions. Because hands down. YOu will never get rid of emotions. Only when you die. Till then its all about the managment of emotions.

this guy talks alot about this stuff, i have learned to explore all traders that share their psychology. Its priceless.

https://www.tradersreality.com/

Happy Trading Guys

I made real progress the day I stopped reading trading books and found a good mentor

Hi Grabowski

I am looking for a mentor but not having much luck. I have been trading for 4 years and I am still having a hard time being consistent. I feel that i am so close to getting to the next level I just need a little guidance. If you have any suggestions please let me know i would really appreciate it.

Thanks

It's hard to find a good mentor.. You might have to pay for one.. and even then that might be hard to find..

most of the people learn by themselves,its good to have mentor,first they are expensive,secondly,if we learn by ourselves,the success is lasting.i like buddy system,its good to be following same system and sharing the ideas to become good trader