I plan to quit forex!

If you know what they are and i guess you dont....

Maybe, he added this reply for attention; there is no way to easy money making in Forex, never & ever.

Yes, the stochastics pointed to a buy opportunity so I multi-positioned a buy based on the daily chart of the G/J. Left a lot on the table though.

I’m now shorting on the 4 hour chart if it breaks the 147.00 mark. We’ll see what happens.

Anyway full of shit!!!!!

Cool; what’s the update? Did you open this trade? Curious to know…….

Got up in the middle of the night and closed my positions--stupid on my part because it was a reversal and I trade completely differently. I should have kept my positions and put a tight stop on it so I would either have a win or a quick small loss. I can't believe I did that but I guess I can blame it on a lack of sleep.

Anyway I"m getting ready to position in where I took profit which is nice: it is between 146.20 to 146.30. Hope to load up in that area for a long.

G/J has been working against me since my positions so when it shot up within seconds, the market allowed me to get out virtually unscathed. Good thing! It broke the daily bottom trend line so I put in a buy for 145.98. G/J is out of the PA balance on the downside so there will be a natural pull to the 200 MSA on the daily.

We're in the London time zone at the time of this post. I use the Heiken Ashi candles simply to smooth out erratic PA.

This is how I see it:

Daily - 200 SMA slight downtrend. I base the market trend (at least for trading) on the daily 200 SMA. Stochastic (14,3,3) shows an oversold condition which indicates PA reversal. The top trendline is around ~148. Favorable for buy positions.

4 Hour - 200 SMA is very slight downward trend--maybe even flatlined. The stochastic is still not below the 20% line which suggest it would be premature to enter a position here. As I said earlier, I did put in a position below 145. Depending which way it goes, I'll increment a buy every 5 or 10 pip drop. I like usually a minimum of 6-8 positions and a max of 12-14 positions.

1 Hour - is a good time frame for observing PA patterns.

15 Minute - if I don't predetermine positions, I short or long on the fly with the 15 minute chart. Most of my observation is with the 15 minute.

I dont get it why trade micros even if i have a 500 account i trade 0.7-0.8... either i doubble ore trippel ore ten times ore hundred times ore i blow account then its just too put in new 500 and try again Arnt we doing this for the money i mean if you traded a standard of your 2-3000 dollar account you would have 63000 dollars with your pips wouldnt that be someting....I dont mean too disrespect you at all but you have traded this 3700 dollar account for 4 months now dont you like money......All the people talking abaut risk and money management is just bullsh...GO BIG ORE GO HOME....I am not satisfayed with 10% a month if i want that i would trade stocks no we are trading forex too get 10000% ore 100000% on our investment......I am on demo now too get data on my scalping too know where too put my target and stoploss if i am going for 1-2-3 pips TP and if i stop out trade as soon as it goes against me ore 1-2-2.5-3-3.5-4 ore 5 pips stoploss what makes the best return then i will deposit a 1000 dollars the 20th this month and trade one standard lot i also take some baskets with up too 5 trades with a standard lot either i doubble the account in 2-3 days ore i blow it i am at 86%90% winrate so if i just could find out abaut the stoploss last time i tried i got the account up a bit but i let some trades run too wait for them too come back but one of them didnt and i was finnished so i need clear rules on when too cut my losses and do it every time i am testing out cutting them as soon as it goes against me with 0.1 pip close out it kills my winratio but if i can have a target at 2pips i can take 4-5 losses on one win as i said that is what i am testing theese days then i will try 1 pip-2 pip and so on...This was a lot of bullshit from me just needed too emty my head and then i push my frustrations on you either you want it ore not....So this is my filosophy abaut risk and money management.....Everybody of course do what you want but if you dont take risks you dont make money.....Green pips too everyone...

"
I have no luck in forex. Initial period I get profit, and few months all profits and capital are gone.
I think I am not suitable in forex and will quit all and back to work"


Bro,

FX trading is one of the most demanding activities you can imagine,
it requires more than just stable emotions and fundamental knowledge.

One of the reasons WHY it is hard comes from the fact that the FX markets are HIGHLY MANIPULATED.

Do NOT trade live until you have a PROVEN edge. To find an edge can take some years alone.

So go back to the drawing board, dear.

Stay safe,
FF

The hole trick is too get in take 1 ore 2 pips with high leverage then you dont get cought bye the smartmoney marketmovers big banks and hedgefonds they have algorythms sweeping the market all the time just too see where the majority of traders are buying and selling and then they push the market in the other direction taking out majority of stops....Like some traders follow trend and when too many jumps on the smartmoney reverse the trend taking out majority of stops.. All kind of strategies the human mind are doing the smartmoney algorithms catch on too..... Either you have too do the opposite of what everyone else is doing ore you doo like me in for 1-5 min...take that one 2 ore 3 pips and out again the smartmoney didnt even see my white ass going in and out.....And people say only 2 pips why bother i take a 100 pips out of my trades....Ok how often is that.....My only problem that i am working on are my stops where is it most proffiteble too have my stops with a 10 pip stop i have winrate of 90% but with average 1.5 pip pr trade i win 9 and then two stops taken out i am RED if i win 12 and 1 taken out i am green but thoose two can and will happen....Theese days i am testing out having 2-3 pips TP and close trade as soon as it goes against me not looking too bad....But anyway i am sure that i will be consistent with this....You just need a broker like i have that is the main ting ...My broker takes 2 dollar pr lot traded and 0.1 spread on majors and unregulated soo 400:1 leverage on a 1000 dollar account i trade a standard lot and 10000 account 8-10 lots....Are you interested in trying too fool the smartmoney marketmovers i will help you with template and indis and i have images of different setups for theese small gains only ting yu need is too use my broker too succseed...Sorry for my English...i am from Norway...PM Me Fractalfreak ore anyone else who can and have the guts too take 40-50 traades pr day and spend 6-8 ours before the computer a day...Green pips everyone

HEHE Fractalfreak you know exactly what i am talking abaut you have the best tread in the whole forum here only focusing on the smartmoney....You got me there FRACTALS....LOL

But yes it is by far the hardest ting i have ever done...

Thank you for your constructive criticism. I don't mean any disrespect but you state that you are on a demo account and you are advising me when you have 'no skin in the game'? Fine... I always appreciate advice, however, a demo account is a learning account. It allows you to have training wheels while you are learning how to ride a bike. It's all well and good but eventually, demo accounts become a hindrance. You have to be willing to lose real money to understand forex.

Forex is all about balance. The price action is seeking balance 24/7. This is often expressed in patterns. Fractals are abundantly seen in nature and in finance. When you see patterns, you can act on them. Retail forex traders cannot influence the market one way or the other. It's the central banks and companies like Boeing and huge corporations that can move the price action. We private traders just go along for the ride.

Your post seems to suggest a strategy for trading which is fine. That's what I'm doing but your strategy doesn't have to conflict with mine. If it works for you, by all means go for it. My pip size should have no bearing on what you do. By the way 4 months ago I opened this account with $2500 and am now at $3700 after paying myself $300 so actually I've made $1500 which works out to be around 27% average per month which I consider good but modest. My goal is 40% per month. I've done that many times in the past so I think it's reasonable.

We are here to learn from each other. If I can help someone--great! If I can learn from someone--even better.

By the way, your English is great.

Ooohhh belive me i have blown ny share of account if you have read what i have written i am gattering data too get a Grip on what size on SL and TP are gives most profit i have struggeled for 4 years too get where i am now i have i live acount but too get bettter data i am trading 10 lots on my demo and i dont have that big account now...But i will open a tradeexplorer the 20th...When i go live again....And 0.3 dollars isnt risking money at all a 50 pip loss. 15 dollars...Subscribe til me so you can follow my TE....lol

I am no pro so do what ever you want but you are a good tråder and could have måde so much more thats my point

I think you are quitting too early, I am 3 years and about 4-5 blown accounts into my FX journey and only recently have I become consistently profitable. You just have to keep at it, keep learning, keep using what works for you and don't use what you are not successful with. Participating in Twitter has greatly helped me, whether it be asking questions to other traders or studying the trading ideas of others.

I hear you. I've gotten burned so much in the past and blown quite a few accounts, I feel battle weary. I average about 10 .03 pip positions on a play so that's about .3 pips which to me is plenty of risk on a small account such as mine. I used to scalp but too much stress and I don't want to be at my computer all the time. Until I get to about 20k so I can reduce my risk even further, it's going to be a grindstone for a while.

I may be all wrong but I don't think you can understand forex unless you've blown at least three accounts.

Why at least three?

I really dont think that very serius...It's not like blow 3 accounts and you are a sucsessful Forex trader....Point is you must bleed before winning the fight