8 Years Later - Still Not Winning

How do you become a trainer, if trading is so difficult? If you are broker , you have an edge "spread".

Education and training is good easy risk free money, but is forex hard after 8 years?

You are scared of losing now, so you take quick profits and hang onto losers. Work on your exits. Exits work for both profit and stopping losses. If you can limit your losses, and instead hold onto the winners a bit longer, you can turn it around. Think of it like you ante in Texas Hold 'Em poker. If the flop sucks, you fold. If you enter and the trade sucks, exit. Get over your ego. It will make you broke.

Trading Forex is surely tough, it requires long long friendship, boring education (if you have no passion for trading), pain experiences, and lastly comes winner. But 8 years, 12 years! Sound scary, I suggest you to reconsider your strategy, try different methods until you find more winning sides. I hope you found the diamond real soon.

I think, he just put his opinion, nothing else! Because, it’s not easy to open a Forex broker house.

Just stumbled upon this thread. Keep going and never give up. God willing you will eventually succeed.

that is because your entry is wrong side for 5 years, right now start to do the opposite of your trading plan

[Still NOT winning] thats the word in between which makes all the difference here.

Coming to the point according to what you have said that it has been 8 years but you havent mentioned how much time [hours or minutes] per day you have spent researching about systems OR studying charts OF the forex markets.

from what i remember it takes atleast 10000 hours to master a skill and if you have done that than by now you should have already became a profitable trader.

Now here is another thing you cant win unless you know how the markets really works.
which is obviously a complex thing to understand.
this is why most people are failing.Most people are failing to identify and recognise the original cause of market movements and they trade the effects only.

Read proper books which contains some effective information on pattern recognition,breakouts,fractals,statictics[data mining] and number theory.

Becoming a profitable trader has nothing to do with:

Indicators or
Techniques

but everything to do with KNOWING and MASTERING yourself.

Only when you master you FEARS, GREED, and EGO will you forge ahead in this profession.

At the end of the day when you become profitable, you will find out that indicators only add spice to self mastery.

Thank you

Does it take 8 years to find out, that the enemy within is the master of failure?

Hey,

Your post has grabbed my attention, great advice, I was wondering if you could recommend some of the proper books?

Thanks

I've been doing much better.
After my last melt down I took a break.
Now I'm focusing on journaling and not being stupid.
I've noticed I'm correct in market prediction more often
than not but still not making money on moves that I predict.
I'll B/E or close early and miss out.
I'm looking at this as progress along the challenging road that is trading.

Did any of the 8 years spent focusing on your discipline?

Trading is 80% mental, 10% money management, and 10% technical.

All too often we get anxious thinking about making lots of money so we habitually look for systems that might help us get that goal.

That's where our failure begins.

i signed up for FF account to offer some simple advice; to ensure you are on right side of trade. 1-pick any 15min currency pair or several. 2-plot 5 separate MA (23, 38, 50, 61, 100) exponentail with median price HL/2. the moment they align down, sell. the moment they align up, buy. figure out when to close out your trades. yes, Forex is a coin flip.

It usually takes that long neesh24.

Most of us fall into the trap after a few years of success that we have solved the riddle but that is rarely the case.

The success of any strategy or collection of strategies is attributed to a narrow range of market conditions. In general there are 5 different market conditions:
1. Volatile long
2. Non-volatile long;
3. Volatile short;
4. Non-volatile short; and
5. Sideways range-bound conditions.

You can lump a strategy of classify a collection of strategies into one or more of these categories....but a single strategy cannot cope with all market conditions.

When market conditions are fairly stable such as since 2010 where convergent market conditions are the order of the day, certain strategies do well whereas other strategies not configured for those market conditions start taking a dive with building drawdowns.

The way to address this situation without having to identify what market condition you are in and your forecast of how long that market condition will last for is to have a collection for strategies that in composite address each of these market conditions but when operating outside the favorable market condition.....don't lose too much money.

This is where the lightbulb flashes and you realise this game is more about robustness as opposed to profit making. Profit making is simply a Non-Gaussian symptom of a bigger process which is non-discretionary, non-predictive and manageable.

If you test your strategies over an extended data set, there is a better chance that you will be able to develop robust strategies that can stand the test of time without taking you into deep drawdown territory or worse still, into the realm of risk of ruin.

Having developed robust strategies that do well in a particular set of market conditions and do not take you down when they flounder....then it is just a game of determining how much money you allocate to each strategy in your selection. That is where you can then take the guesswork out of the equation and apply position sizing techniques that respond to risk-weighting.

You will find the fund management professionals are adept at this game of managing a portfolio of diversified strategies and the reason for this tendency is the experience derived from years at playing this game.....much more than 8 years. This is a story developed over 100's of years of active investing by the fund management professionals.

If I was you I would take a break from simply attempting to develop profitable strategies and learn about the game of portfolio management as it becomes far easier than you might realize to extract alpha from the market this way. What this does is take the focus away from profitability towards how best to manage your finite capital and achieve long term sustainable returns.

we are off and running again (eurusd, audusd, usdcad, usdmxn); not that hard when you are on the right side. swim with current. i gave you definition of current in previous post. this isnt philosophy or psychology. learn how to be profitable first on very low bets.

when i see 12 pages of comments and think of you struggling, i tend to think you are probably over thinking this process. keep it simple like i demonstrated to you. it took me almost 4 years to figure out a couple simple concepts thru my own programming and analysis; i have advanced degrees in compsys, IT, and data analysis/conversion. 1-it will average(sell hi, buy lo) or 2-it will run(buy hi, sell lo); that's it. don't overthink it but use MA i gave to make your decision based on market activity. use market FF Calendar for predicitve activity.

https://screenshots.firefox.com/aA43...rexfactory.com
if in doubt, look at FF bank rates, odds are that the country/currency with the higher interst rate will appreciate over time; and such, the country/currency with the lower interest rate will depreciate over time. i have given you a few simple tools that you can use to become successful. now it's time for me to die; i to die and you to live, but he who goes to the better lot is known to the trading accounts.

Advice from the best trader I know. Follow it

”Fact is that you can try your best to explain to people who can't see how easy it is but they will not understand on explanation alone. It is my opinion that most new traders go into it with "trading is difficult" embeded into their minds.

They waste too much time and effort on 3 things.

1) looking for "holy grail" indicators
2) reading trading books
3) trying to follow so called "gurus"

they solidify in ones mind that trading is supposed to be complex. They can create a false sense of confidence.

Until someone has been gone through enough pain to be able to admit to themselves that the things they looked for is not working. They will then throw all the BS out the window. It takes people years to be able to completely throw something they are so used to doing out the window.

Bottomline, trading is not something that you can read about and be good at. Just like anything else, you get better with experience.

"The name of the game is to figure out what DOESN'T work... there could be tens of thousands of items on your list, and what you do is to throw out the items one by one, until you're down to the last 2 or 3 items that really stays there..."

That part is so true..

to be successful at trading you only need to do 4 things.

#1 Learn how to read a chart
#2 Learn Technical Analysis
#3 Don't have a bias
#4 Trust yourself

IF one can do those things, you will then be able to execute and make money. Everything else is just a distraction.”

they would have made more money just by going long on the SP500, or buying random indices

instead they have a 80-90% failure rate LOL
how do you exploit these markets ? there's a guy here who can do that, but I have no idea how.

I have been trading for two years. I have tried many systems & I am finally profitable. The most important thing in trading is psychology. The Key Psychologists I found are: Mark Douglas’s Book: Trading in the zone. Psychologists Rande Howell & Robin Dayne all helped me immensely. I honestly think that without their advice I am still not profitable. I wish Everyone the best success in their trading journey.