3 steps to turn around your trading in no time | Forex Factory

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3 steps to turn around your trading in no time

  • #1
  • First Post: Edited Jul 13, 2018 3:12am Jul 12, 2018 1:21pm | Edited Jul 13, 2018 3:12am
Speaking from 10 years of experience in market. you can turn around your trading in simple 3 steps, try it on demo and thank me later.

1) you need ample amount of money in your account. there is no way to make living out of forex from 100 dollar account.
2) you need to remove your stop loss
3) zoom out on daily chart completely and see the picture crystal clear.

thats it.

Hope it helps some people who are working hard to make living out of forex market.


FRUSTRATED TROLLS WILL NOT BE GIVEN ANY NOTICE BEFORE IGNORE BUTTON IS PRESSED, SO KEEP YOUR FRUSTRATION OF LIFE OUT OF HERE.
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  • #2
  • Jul 12, 2018 1:22pm Jul 12, 2018 1:22pm
Also read my thread on SL here

https://www.forexfactory.com/showthread.php?p=11256584#post11256584
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  • #3
  • Jul 12, 2018 1:25pm Jul 12, 2018 1:25pm
Do you see clear direction of market here?


what will you do? buy or sell if your SL is 2000 pips?
Attached Image (click to enlarge)
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  • #4
  • Jul 12, 2018 1:38pm Jul 12, 2018 1:38pm
1&3 yes, even weekly/M.
2. dont agree. cut your losses. if you had wrong SL, and got tripped. wait for PA to enter again.
  • #5
  • Jul 12, 2018 1:44pm Jul 12, 2018 1:44pm
Quoting echo1
1&3 yes, even weekly/M. 2. dont agree. cut your losses. if you had wrong SL, and got tripped. wait for PA to enter again.
Cutting losses is different from fix SL on every trades.
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  • #6
  • Jul 12, 2018 1:45pm Jul 12, 2018 1:45pm
patience to hold as well along with ample capital
Think Think Think.
  • #7
  • Jul 12, 2018 1:55pm Jul 12, 2018 1:55pm
What would you do here for 50 pips if your SL is 2000 pips, this is daily chart.
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  • #8
  • Jul 12, 2018 2:11pm Jul 12, 2018 2:11pm
the SL has to be relevant to the time-frame you are trading. yes 50 on D is quite little, but 150-250 could be adequate depending on the pair. your entry would need to be wrong 8 times to total 2000 pips in SL @ 250 pip/SL. Even if your accuracy is even below 50&%, with the right risk to reward you will make money. What is your TP with 2000 SL?
  • #9
  • Jul 12, 2018 2:13pm Jul 12, 2018 2:13pm
Quoting echo1
the SL has to be relevant to the time-frame you are trading. yes 50 on D is quite little, but 150-250 could be adequate depending on the pair. your entry would need to be wrong 8 times to total 2000 pips in SL @ 250 pip/SL. Even if your accuracy is even below 50&%, with the right risk to reward you will make money. What is your TP with 2000 SL?
point is to always hit the TP

no matter if its 10 20 50 or 100 according to time frames.
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  • #10
  • Jul 12, 2018 2:21pm Jul 12, 2018 2:21pm
if your SL is 2000. the minimum TP is 4000. thats 1:2, and still on the low side. 1: 2.5-7 is a good range. Even if you spend 6 entries (@250) to catch that 4000 pip move, you save 500 pips out of otherwise 2000 pip SL. Thats 25% win ratio BTW. If you are at 25% win ratio, then definitely focus solely on improving that (entries, PA).
  • #11
  • Jul 12, 2018 2:23pm Jul 12, 2018 2:23pm
Quoting echo1
if your SL is 2000. the minimum TP is 4000. thats 1:2, and still on the low side. 1: 2.5-7 is a good range. Even if you spend 6 entries (@250) to catch that 4000 pip move, you save 500 pips out of otherwise 2000 pip SL. Thats 25% win ratio BTW. If you are at 25% win ratio, then definitely focus solely on improving that (entries, PA).
SL is no SL

its about making just pips without losing any.
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  • #12
  • Jul 12, 2018 2:27pm Jul 12, 2018 2:27pm
so you are suggesting taking profit on the ones you got correct and keep the losers running until they hit SL of 2000?. I am assuming that the ones you got correct are 4000+ pip trades. If you win 100 pip and your sl is 2000, then it would take 20 winning trades to equal 1 loss. thats insane.
  • #13
  • Jul 12, 2018 2:30pm Jul 12, 2018 2:30pm
Quoting echo1
so you are suggesting taking profit on the ones you got correct and keep the losers running until they hit SL of 2000?. I am assuming that the ones you got correct are 4000+ pip trades. If you win 100 pip and your sl is 2000, then it would take 20 winning trades to equal 1 loss. thats insane.
taking trades where it only comes in TP without hitting the SL.

this is why zooming out on big time frames to look the big and clear picture.
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  • #14
  • Jul 12, 2018 2:34pm Jul 12, 2018 2:34pm
got it, you are suggesting winning ratio of 100%. Thats amazing, I think we all would love that. But then reality hits lol. I am not understanding something here about your strategy?
  • #15
  • Jul 12, 2018 2:34pm Jul 12, 2018 2:34pm
today trades, do check SL and TP
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  • #16
  • Jul 12, 2018 2:38pm Jul 12, 2018 2:38pm
If I would have 20 50 or 100 pip stop loss I would not be able to trade this without getting stressed or losing all the money.
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  • #17
  • Jul 12, 2018 2:41pm Jul 12, 2018 2:41pm
point is even noobs are correct to see a direction of the market but the problem is SWINGS in the market which always tends to take away all your stops.

trade in such a way where you are in a trade and the trade hits your take profit.
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  • #18
  • Jul 12, 2018 2:42pm Jul 12, 2018 2:42pm
Thats a surprise! 10 years in the market still on 0.10 lots. Well if you care to talk about a strategy please do so. Otherwise this is a waste of time. Cheers.
  • #19
  • Jul 12, 2018 2:43pm Jul 12, 2018 2:43pm
If you are trading 0.10 lots per trade what account size is that for?
  • #20
  • Jul 12, 2018 2:43pm Jul 12, 2018 2:43pm
Quoting echo1
Thats a surprise! 10 years in the market still on 0.10 lots. Well if you care to talk about a strategy please do so. Otherwise this is a waste of time. Cheers.
yes 0.1 because I trade multiple accounts and I make enough to live on that money.

the strategy is already told in first post.
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