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Why did you start trading and what do you expect from it? 19 replies

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What did you wish you'd known about trading Forex?

  • #61
  • Edited 9:48am Aug 22, 2017 9:26am | Edited 9:48am
Quoting genghistar
That I was what I am now 15 years ago..... GS
lol This is so true.

I also would have liked to have the knowledge I have now when I first started learning about this BS=FX, it would have been a much more relaxed path
  • #62
  • Aug 23, 2017 4:19am Aug 23, 2017 4:19am
i wish some one had told me this 7 things..
1. that patient with the market and your system is the key...so wait for your setup and quit chasing the market..because history will always repeat itself
2.that some one had told me never to believe in others more than myself...this is because you only see the market from you strategy
3. that there is no wrong market only wrong strategy .therefore the market is always right,
4.that 95% of everything the self proclaimed pro traders told us were wrong and only set limit on your pursuit to profitable trading
5. that stop loss and take profit are not to b decided by you but by your strategy to avoid emotions .so let you strategy determine it for you
6.that minimum of 100% to 500% monthly was possible irrespective of the market and the doubts of others including the pros
7.that making money in this market is secondary while mastery is primary.
you may not agree with 4 and 6 but it doesn't change anything
  • #63
  • Edited 5:52am Aug 23, 2017 5:25am | Edited 5:52am
Quoting Mjyoung
i wish some one had told me this 7 things.. 1. that patient with the market and your system is the key...so wait for your setup and quit chasing the market..because history will always repeat itself 2.that some one had told me never to believe in others more than myself...this is because you only see the market from you strategy 3. that there is no wrong market only wrong strategy .therefore the market is always right, 4.that 95% of everything the self proclaimed pro traders told us were wrong and only set limit on your pursuit to profitable trading...
it changes a lot if you dont agree to number 6. looks like you are only trading extrem martingale all the time, so complete different experience and small accounts and rules are for you. not really to compare with bigger sucessfull accounts.

sounds really extrem unexperienced. minimum 100%-500% each month is possible ;-). looks you dont know how to calculate percents, take it from all your money you have, not have 50 accounts and one was this in plus and only count this ;-).

normally only very unexperienced people or people who try to scam other people are writing like you.
  • #64
  • Aug 23, 2017 6:11am Aug 23, 2017 6:11am
Quoting dukas_trader
{quote} it changes a lot if you dont agree to number 6. looks like you are only trading extrem martingale all the time, so complete different experience and small accounts and rules are for you. not really to compare with bigger sucessfull accounts. sounds really extrem unexperienced. minimum 100%-500% each month is possible ;-). looks you dont know how to calculate percents, take it from all your money you have, not have 50 accounts and one was this in plus and only count this ;-). normally only very unexperienced people or people who try to scam...
my friend i never said i was selling anything here and i having been trading for the past 7years and i have read thousands of thread here without joining any ok and i don't trade martingale.i spent 18hrs each day researching and working on systems and believe or not you are speaking from what you are trading...stick to it if it keeps you well but if i were you i will spend my time asking others what they do differently than expressing my doubts and limitation.we are here to help believe me your money doesn't matter
  • #65
  • Aug 23, 2017 6:39am Aug 23, 2017 6:39am
my post is not for new traders so if you are new to trading pls go to babypip website and learn.
  • #66
  • Aug 23, 2017 6:46am Aug 23, 2017 6:46am
we are nothing but pencil in the hand of the creator.
note that the trade report include both closed and present open trade and my starting capital was just 200 USD. i may not know how to calculate percentage but i surely know how to pull the pips 1678pips from 24th july 2017 to 23rd august.just a month.time to show proofs not talking tomuch
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  • #67
  • Aug 23, 2017 7:04am Aug 23, 2017 7:04am
1. identify impulse move
2. identify pull back
3. identify if the pullback is a trend continuation or not.
4. If it is a bullish trend continuation, go long vice versa
5. If pullback isn't a trend continuation because the recent impulse move have weak momentum, look for a reversal or stay in the sideline.
This is not investment/trading advise. Will not hold accountable for loss
  • #68
  • Edited 1:36pm Aug 23, 2017 8:05am | Edited 1:36pm
Quoting Mjyoung
we are nothing but pencil in the hand of the creator. note that the trade report include both closed and present open trade and my starting capital was just 200 USD. i may not know how to calculate percentage but i surely know how to pull the pips 1678pips from 24th july 2017 to 23rd august.just a month.time to show proofs not talking tomuch {image}
like i told you, you are so small with near no capital. I was 100% sure you are 100% just beginner with no experience and big Poser or just a faker.

dont tell any more, trading 7 years and still trading this small 0,1 lot sizes says all about you and your minimum 100-500% win per month very trustfully posing! you started with 0,000000001 lot or what did you do last 7 years. big liar and scammer.

you simple hope some stupid beginners will write to you , that you can then sell them bullshit in privat. at least you should have used a more logic story, not smartest scam attempt.

even your account shows nothing, maybe you had 20 accounts opened and only with this showed account are in win, and rest total loss. so all together very big loss. for your experience with 7 years you know extrem less about real trading and real world. and we even dont speak about demo accounts or photoshop and so on..... endless story. all we can see for sure your minimum 100-500% each month is stupid and big posing image without any truth!
  • #69
  • Aug 23, 2017 8:33am Aug 23, 2017 8:33am
breakouts are the bread and butter of trading. and money management is 90% of any system

SG
the more you know the less you need.
  • #70
  • Aug 23, 2017 1:03pm Aug 23, 2017 1:03pm
Quoting Mjyoung
we are nothing but pencil in the hand of the creator. note that the trade report include both closed and present open trade and my starting capital was just 200 USD. i may not know how to calculate percentage but i surely know how to pull the pips 1678pips from 24th july 2017 to 23rd august.just a month.time to show proofs not talking tomuch {image}
i would love to be a believer and learn what you are doing differently.
can you attach like 3-6 months history same way for this account.
that would go a long way to show at least some consistency.
there is always, always another trade!!
  • #71
  • Aug 23, 2017 1:22pm Aug 23, 2017 1:22pm
Quoting profitfarmer
{quote} i would love to be a believer and learn what you are doing differently. can you attach like 3-6 months history same way for this account. that would go a long way to show at least some consistency.
near impossible, he simple opened many account and posted best. or even demo, or whatever or in all best case simple luck.
if he had started 6 month before with minimum 100-500% each month, he would have much much much more then 0,1 lot trading volume per trade at this last month. because he has this minimum 100-500% each month there was no argument not to increase lotsize, only argument would be he was big liar about his minimum 100-500% each month. he was so bad in logic that he did not see his wrong calculation in this scamming. funny thing, he needed 7 years not to know even the basics in trading in math. looks like the 7 years are faked too.
  • #72
  • Aug 23, 2017 1:34pm Aug 23, 2017 1:34pm
Quoting Mjyoung
my post is not for new traders so if you are new to trading pls go to babypip website and learn.
your post is only for new traders, rest will laugh about it a little bit and put you in scam area.
you cant fake as a new trader that you are more experienced, its to easy to see that you are not. next time more luck
  • #73
  • Aug 23, 2017 2:33pm Aug 23, 2017 2:33pm
I was beat down in a trade back in the day and I felt like quitting for good. An old trader named Mikey with this gruff old smokers voice said, " Anthony you went to college didn't you?", I said, "Yea what does that have to do with anything?". He said, "an education is going to cost you something, the thing is that the cost is unimportant if it made you smarter and now you're making money with it!"

Having a loss even a big loss is not a bad thing or even blowing out an account in your beginning stages as long as you learn from your mistake and then take the education you received and start making money from that education.

The learning curve is long for some and short for others. Don't gauge yourself by someone else's post or success. Do what makes you successful even if it takes you two or three times longer to do it. One day it will click and then you will be making the good trades when others are on the losing end.

Live to fight another day!!!
  • #74
  • Aug 23, 2017 3:34pm Aug 23, 2017 3:34pm
Quoting livetotrade
I was beat down in a trade back in the day and I felt like quitting for good. An old trader named Mikey with this gruff old smokers voice said, " Anthony you went to college didn't you?", I said, "Yea what does that have to do with anything?". He said, "an education is going to cost you something, the thing is that the cost is unimportant if it made you smarter and now you're making money with it!" Having a loss even a big loss is not a bad thing or even blowing out an account in your beginning stages as long as you learn from your mistake and then...
not complete correct. until this stoploss will be controlled, all is fine. if not its wrong, and you need to change a lot. first you need to survive, so no SL can kill an account (if you have many accounts it may be different maybe, but only other calculation).
for a good strategy you need many many losses (and ofcourse more winner at least in money), so you can calculate the drawdown perfect waht you will have in future. if you have many trades with many losses and wins, its much much better calculated and an extrem higher chance that this will happen so again - against a system with 2 bigger stoplosses and many winners.

so many losses are best you can have, if you system is with a big win/drawdown ratio same time.
  • #75
  • Aug 23, 2017 4:20pm Aug 23, 2017 4:20pm
Quoting faisal13
The first thing to understand is that you aren’t really trading anything when you are involved with currencies on the FX market. While the language is couched in trading terms, the reality is that you are instead “betting” to some degree on whether or not one currency will rise or fall against another. Understanding that you’re not trading anything, you don’t actually own a currency, and you aren’t exchanging it it for another, is the first step to understanding what you’re getting into.
Wow, did you use a priest to resurrect this thread?

The best advice I got and the best advice I'd give, is the longer the timeframe the more reliable are trends and chart patterns and pretty much everything you've ever read about trading, and the shorter the timeframe the more these things break down due to knee-jerk reactions, noise and manipulation. Daytrading is certainly sparkly and sexy and legitimately has more potential for gains, but if you can't be successful doing it then what good is it to you? The Weekly and Monthly trends and chart patterns work, and it's easy to scale into a position and trade around the core position (this latter is something I'm new to).
  • #76
  • Aug 24, 2017 3:40am Aug 24, 2017 3:40am
i wish some one had told me that forex is not a game of luck
  • #77
  • Aug 24, 2017 5:47am Aug 24, 2017 5:47am
Quoting Mjyoung
i wish some one had told me that forex is not a game of luck
because you dont have many experience and dont know many market rules or math, you need so much luck. just change and learn basics.
  • #78
  • Aug 24, 2017 5:55am Aug 24, 2017 5:55am
I've said: "Do not try to curb the market. Use his power for the benefit of yourself."
The best words that I've ever got: "Strategy and mind are your weapon. Stick to them, because throwing a sword on the battlefield - it's unreasonable."
  • #79
  • Aug 24, 2017 8:12am Aug 24, 2017 8:12am
Don't become overly obsessed with the market. It only leads to overthinking it and jumping form strategy to strategy. Find other hobbies and things you enjoy and trading becomes less stressful.
  • #80
  • Aug 24, 2017 8:33am Aug 24, 2017 8:33am
Quoting Madinvestor
Don't become overly obsessed with the market. It only leads to overthinking it and jumping form strategy to strategy. Find other hobbies and things you enjoy and trading becomes less stressful.
Nice personal experience.
This is not investment/trading advise. Will not hold accountable for loss
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