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  • #1,221
  • Oct 9, 2018 6:20am Oct 9, 2018 6:20am
Quoting lb575
I lost $7,500 trading in one month and still did not give up. Trading needs to be like a job you show up at a certain time and do the same thing day in and day out. The reason 95% of traders lose is because they see all of these scams trading 24/7 and think they can do that to and actually make money. May i suggest is that you take a few weeks off, then you come back and make a strict trading plan of follow it and you will see your win percentage go up.
I agree with you. Sorry to hear about your losses, but you'll be doing great in next season but with great lessons. You've got good gut to stay alive in forex.
  • #1,222
  • Oct 9, 2018 7:14am Oct 9, 2018 7:14am
If you give up the trading journey, then you are accepting your loss. But if you push forward by just becoming slightly better than yesterday, then even luck or God will not be able to stop you.
It does not means, you have to lose real currency, trade demo. When you can turn a demo account profitable for a long run, then start small with real account.
Your dream of becoming a millionaire in your 30's may not become a reality, but if you will not give up then you will have your financial freedom before your 40's.

All skills are attainable,if we never quit.
  • #1,223
  • Oct 9, 2018 8:36am Oct 9, 2018 8:36am
I am a rookie, but I would say that luck has almost nothing to do with it... Right?
  • #1,224
  • Oct 9, 2018 9:42am Oct 9, 2018 9:42am
Quoting Knx
I am a rookie, but I would say that luck has almost nothing to do with it... Right?
You're completely right. Don't ever rely on luck to make a profit from trading.
  • #1,225
  • Oct 10, 2018 9:19am Oct 10, 2018 9:19am
Quoting Knx
I am a rookie, but I would say that luck has almost nothing to do with it... Right?
Try to be skilled by means of Pips school as a newcomer, then depend on luck . that’s all.
  • #1,226
  • Oct 10, 2018 10:23am Oct 10, 2018 10:23am
I don't think one should depend on luck at any time when it comes to trading. Learn the basic theory then start trading on a demo account. Learn enough so as not to depend on luck.
  • #1,227
  • Oct 10, 2018 10:36am Oct 10, 2018 10:36am
Luck can get you trew a coupple of days mayby as far as a month,but luck will not make you money over a course of a year sooner ore later you will loose because this is way worse than a casino you got spread and commsion in addition that its a 50/50 game if you dont have a edge that can make you consistent beating the market...You need too be able too read where the market is going 55-60% of the time too make profit.....Its not that you need too have winrate at 55-60%,but of the time it can be one trade you gain 150 pips and 9 you loose 130 ,but still you are in profit with 55-60%...
You win some you loose some do both with peace of mind
  • #1,228
  • Oct 11, 2018 1:44am Oct 11, 2018 1:44am
Quoting magne999
Luck can get you trew a coupple of days mayby as far as a month,but luck will not make you money over a course of a year sooner ore later you will loose because this is way worse than a casino you got spread and commsion in addition that its a 50/50 game if you dont have a edge that can make you consistent beating the market...You need too be able too read where the market is going 55-60% of the time too make profit.....Its not that you need too have winrate at 55-60%,but of the time it can be one trade you gain 150 pips and 9 you loose 130 ,but...
Totally agree with you, even with 55-60% or more can wipe out the accounts due to few heavy loss trades. it's necessary to have amount rate in mind rather than focusing on winrate. Luck is no doubt total loser. knowledge, experience and most importantly good psychology are what stands on the top of mountain.
  • #1,229
  • Oct 19, 2018 5:03am Oct 19, 2018 5:03am
Quoting lb575
I lost $7,500 trading in one month and still did not give up. Trading needs to be like a job you show up at a certain time and do the same thing day in and day out. The reason 95% of traders lose is because they see all of these scams trading 24/7 and think they can do that to and actually make money. May i suggest is that you take a few weeks off, then you come back and make a strict trading plan of follow it and you will see your win percentage go up.
Did you lose early day of your trading or recently? Was 7.5K your full equity?
  • #1,230
  • Oct 19, 2018 7:54am Oct 19, 2018 7:54am
Haven't been here lately because I was so upside down on my trade. It eventually turned so I was able to get out with only minor injuries--lost about $200. I was too heavily positioned. Not good for a baby account (under$10k).
Attached Image (click to enlarge)
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Taigen Profit This Month: na
  • #1,231
  • Oct 20, 2018 8:02am Oct 20, 2018 8:02am
Quoting Taigen
Haven't been here lately because I was so upside down on my trade. It eventually turned so I was able to get out with only minor injuries--lost about $200. I was too heavily positioned. Not good for a baby account (under$10k). {image}
I am glad things are going better for you. How long did it take to get to that point?
  • #1,232
  • Oct 23, 2018 1:48pm Oct 23, 2018 1:48pm
Quoting mlawson71
{quote} I am glad things are going better for you. How long did it take to get to that point?
I just had to wait it out. I took about a couple months. My problem was positioning in lots of 3. My account is just too small for that amount. So back to 1 lot positions.
Taigen Profit This Month: na
  • #1,233
  • Oct 23, 2018 1:56pm Oct 23, 2018 1:56pm
Quoting Taigen
{quote} I just had to wait it out. I took about a couple months. My problem was positioning in lots of 3. My account is just too small for that amount. So back to 1 lot positions.
i still would not use more than 1:2 leverage per trade with 50:1 limit.
As Above, So Below
  • #1,234
  • Oct 23, 2018 7:10pm Oct 23, 2018 7:10pm
Quoting tashkent
{quote} i still would not use more than 1:2 leverage per trade with 50:1 limit.
Mate, what’s your risk reward ratio on per trade? Thanks in advance.
  • #1,235
  • Oct 23, 2018 7:38pm Oct 23, 2018 7:38pm
Quoting ZikriIrfan
{quote} Mate, what’s your risk reward ratio on per trade? Thanks in advance.
hi Zikri,
your question seems so simple and straightforward but i am afraid my answer may seem extremely complex.
the answer is, i do not have predetermined r:r because my initial entries are nothing but to test the waters. depending on how price is reacting to my entries, i start building heavier positions by adding. they could be just from 50% of the initial position up to several times larger. i do not use sl or tp. this gives me more freedom to intimately feel what is going on with the specific pair i am trading. initial position may go hundreds of pips against me but i always make sure that i have significantly more gun powder to get out of the position with one winning position of 20-30 pips. I call my method Chaos system with no rules applied and predominantly based on my feelings at the moment i am pulling the trigger. the system heavily concentrates on minimizing the losses if occur. winning positions are never my priority. i collect my bread crumbs from losing trades and love when market goes against me, this is where i start growing equity.
BTW. the last few posts in my trading journal can be an example of what those trades are like.
As Above, So Below
  • #1,236
  • Oct 24, 2018 2:51am Oct 24, 2018 2:51am
you MUST have a first stable income only then you should try for trading....you will be less stressed and also you wont be in any hurry to make money
  • #1,237
  • Oct 24, 2018 8:56am Oct 24, 2018 8:56am
Quoting Taigen
{quote} I just had to wait it out. I took about a couple months. My problem was positioning in lots of 3. My account is just too small for that amount. So back to 1 lot positions.
I've had that problem too, and I managed to overcome it, I'm glad you did as well.
  • #1,238
  • Oct 24, 2018 12:38pm Oct 24, 2018 12:38pm
I quit to plan forex!

I have such good luck in forex. Initial period i don't get profit, then in a few months all profits and capital comes.

I think i am suitable for forex and will never go back to work
  • #1,239
  • Oct 24, 2018 5:30pm Oct 24, 2018 5:30pm
Quoting tashkent
{quote} hi Zikri, your question seems so simple and straightforward but i am afraid my answer may seem extremely complex. the answer is, i do not have predetermined r:r because my initial entries are nothing but to test the waters. depending on how price is reacting to my entries, i start building heavier positions by adding. they could be just from 50% of the initial position up to several times larger. i do not use sl or tp. this gives me more freedom to intimately feel what is going on with the specific pair i am trading. initial position may...
Thanks mate, for your detailing answer! Let me check your trading journal posts! Thanks again.
  • #1,240
  • Oct 24, 2018 6:13pm Oct 24, 2018 6:13pm
I'm feeling that way too.

I invest 3 years in forex and accomplish nothing. I know that I'm doing something wrong but its just didnt "click" in my mind.

My biggest QUESTION is: Should I continue invest my time and effort after 3 years because now I'm closer to success, or I need quit once for all. That's stucked in my head a few weeks
The best way to figure it out is by backtesting it yourself
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