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8 Years Later - Still Not Winning

  • #241
  • Aug 11, 2018 3:47pm Aug 11, 2018 3:47pm
Quoting HeyYou
there's a guy here who can do that, but I have no idea how.

Forget what I said. no one can do that IMo
  • #242
  • Aug 11, 2018 4:02pm Aug 11, 2018 4:02pm
Quoting raklian
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.
The very subject new traders should be taught is trading psychology, if they learn trading psychology. they can progress to profitable trading.If they learn't about trading psychology first, most new traders will never enter the market. A lot of broker money is spent recruiting new suckers, almost a billion dollars a year is spent by brokers on marketing to recruit new losers of future, to replace losing customers.It is a catch 22 situation.

How is the poor trader going to learn , that most can not succeed after 20 years, when all this information on the human mind is kept hidden from the 8 year losing trader.It will still be kept hidden after 20 years.

So 20 years is not enough, because on forums relying on broker income, they will never know how to suceed.
  • #243
  • Aug 11, 2018 5:03pm Aug 11, 2018 5:03pm
i read a lot of posts here , so if your are still not making money is it because you have to many pairs to look at i find most traders have sooooooooooo many pairs they lose the plot , so a rule when learning >>>>>>> pick one pair only learn it trade it use very small money and do not move on to another pair until you do , you will be able to concentrate on it , i know traders here who trade 10 pairs and i know traders that have 20 sells and 20 buys on the same pair so how does that work seems most traders are their own enemy
people leave, but this thread will go on for ever
  • #244
  • Aug 11, 2018 5:41pm Aug 11, 2018 5:41pm
Quoting HeyYou
{quote} 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 {quote} how do you exploit these markets ? there's a guy here who can do that, but I have no idea how.
LOL......Reeeeeeeeaaaaaaaaallllllllllyyyyyy :-)

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  • #245
  • Aug 11, 2018 7:00pm Aug 11, 2018 7:00pm
Quoting HeyYou
{quote} Forget what I said. no one can do that IMo
Psssst. Some option strategies (eg. straddles and Condors etc.) are designed for that :-)
  • #246
  • Aug 11, 2018 10:01pm Aug 11, 2018 10:01pm
As humans, we tend to overcomplicate what in reality is easy if we apply the basic rules of discipline and money management to a quality system, where the weak link is in not applying yourself to a single system and mastering it, instead of jumping from one to another in the hope of success in the next system.
Can it be done, ABSOLUTELY, if your willing to do the things you don't want to do, MASTER YOURSELF, GW.
Trading is all about dealing with the internal.
IMPROVISE ADAPT OVERCOME
  • #247
  • Aug 11, 2018 11:14pm Aug 11, 2018 11:14pm
I think this says it all.
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IMPROVISE ADAPT OVERCOME
  • #248
  • Aug 11, 2018 11:53pm Aug 11, 2018 11:53pm
Quoting neesh24
STILL NOT WINNING.
Lol so cute im start to win 14 years later. The emotional rollercoaster, the shatter heart. U think u got it, next week u blew ur acc. The dream to make money seems so far away. U want to quit but deep inside, u still belive u can make it.

After 14 years i discover 1 thing. The key of winning is the "art of stop loss".

Keep on going my friend. Don give up.
  • #249
  • Aug 11, 2018 11:59pm Aug 11, 2018 11:59pm
Quoting Aussi
i read a lot of posts here , so if your are still not making money is it because you have to many pairs to look at i find most traders have sooooooooooo many pairs they lose the plot , so a rule when learning >>>>>>> pick one pair only learn it trade it use very small money and do not move on to another pair until you do , you will be able to concentrate on it , i know traders here who trade 10 pairs and i know traders that have 20 sells and 20 buys on the same pair so how does that work seems most traders are their own enemy

It is probably charlatans with broker's money to promote this buys and sells, so brokers make 20 *2 spreads.
  • #250
  • Edited 2:08am Aug 12, 2018 12:24am | Edited 2:08am
Quoting footimy
{quote} Lol so cute im start to win 14 years later. The emotional rollercoaster, the shatter heart. U think u got it, next week u blew ur acc.
Successful traders know the enemy within , their psyche and human psychology , the failures don't know the enemy within you .

The charlatans told me "emotions can be managed" so I carried on .The broker's team encouraged me to carry on , hiding the truth, I could turn it around soon.Losing can be managed, emotions can be managed, totally fallacy.

Even great traders are humans , like great footballers , losing arouses emotional reactivity.

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  • #251
  • Edited 8:04am Aug 12, 2018 2:10am | Edited 8:04am
Quoting neesh24
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.
Deleted.

I'm constantly reminded why I don't post in these kinds of threads.

Good luck
  • #252
  • Aug 12, 2018 3:31am Aug 12, 2018 3:31am
Quoting Aussi
i read a lot of posts here , so if your are still not making money is it because you have to many pairs to look at i find most traders have sooooooooooo many pairs they lose the plot , so a rule when learning >>>>>>> pick one pair only learn it trade it use very small money and do not move on to another pair until you do , you will be able to concentrate on it , i know traders here who trade 10 pairs and i know traders that have 20 sells and 20 buys on the same pair so how does that work seems most traders are their own enemy
its not all about how many pairs we are working with,This is absolutely true not to have as much as 28 pairs on board,but all major pairs are needed to find a set up,Remember,set up comes rarely on higher time frames and we have to wait patiently,so I keep 9 pairs on board,if setup arrives,then I trade that pair with 10 or more trades to squeeze the juice out of it.

The key is Patience,trade only on setups on high time frames.
Green pips!
  • #253
  • Aug 12, 2018 3:49am Aug 12, 2018 3:49am
The idea of trading Forex is always sold on the idea that you COULD win big, and it's true in some cases.
The opposite is a lot easier of course - and this is what gets into people's heads. The panic that your trade is starting to fall off a cliff and you are going to lose everything.
When I started I was constantly kicking myself for getting out of trades when I panicked only to find it went back the right way and won later on.

My advice is along the same lines as already discussed. Keep it simple. Don't flood the screen with indicators that you take ages to fathom, and only start with one pair with a small spread, like EUR/USD.
I started winning once I used smaller lots on one pair, keeping to disciplined rules. Taking agreed profit and taking losses the moment it hit my agreed SL.

Using a demo account is easy, it's not your money and you trade like it doesn't matter. Once you go live your head is full of "what if?" scenarios.

If I have time I'd like to share my experiences in detail and also give some hints and tips as to how I overcame the fear and now make profit every day.

It IS possible!
  • #254
  • Aug 12, 2018 5:29am Aug 12, 2018 5:29am
its motivates to see all the supportive replies here.. im 10-years in and shares the same outcome...
will take a break and start again with 1 single pair..
back to square 1 really..
  • #255
  • Aug 12, 2018 5:37am Aug 12, 2018 5:37am
Quoting Italman
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.
You have found out why most don't succeed.

Good luck.
  • #256
  • Aug 12, 2018 6:19am Aug 12, 2018 6:19am
Quoting neesh24
When do I stop acting like a jackass?
When you fully automate your trading.All humans are wired like you, we are all the same.

You are not the only one.
  • #257
  • Aug 12, 2018 6:49am Aug 12, 2018 6:49am
Quoting Knightz
its motivates to see all the supportive replies here.. im 10-years in and shares the same outcome... will take a break and start again with 1 single pair.. back to square 1 really..
I think if you control risk and do simple things like momentum trading you will be successful. Watch one pair and avoid trading frequently. Don't shoot for too high a return, it's possible but only by the best of the best. Cheers
When you see it, BET big.
  • #258
  • Aug 12, 2018 7:01am Aug 12, 2018 7:01am
Quoting Rennaissance
{quote} I think if you control risk and do simple things like momentum trading you will be successful. Watch one pair and avoid trading frequently. Don't shoot for too high a return, it's possible but only by the best of the best. Cheers

Risk control is doing revenge trades , increasing positions, to get back money risked.It is hard to do after a loss.
  • #259
  • Aug 12, 2018 8:00am Aug 12, 2018 8:00am
Waves, waves, waves are the answer to all the questions every trader has ever asked. How can anyone expect to be successful when they don't have the understanding about what they're doing and how the market works!? Mechanical systems are not the way to go, in my opinion. Because they don't explain how and why the market moves as it moves. But by looking at the market from the wave perspective, you can learn a lot about it's nature and how it really works. So look into waves. Not Elliott waves, but 7 and 3 waves instead. The markets are not random, they're always moving in cycles. And if you know where exactly in the cycle the market currently is, you can take advantage of it and be successful.
  • #260
  • Aug 12, 2018 8:19am Aug 12, 2018 8:19am
8 years without winning..
Maybe it's a much better idea to put your funds in the hands of a skilled trader or a hedge fund?
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