I won nothing after 3 years | Forex Factory

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I won nothing after 3 years

  • #1
  • First Post: Oct 24, 2018 6:34pm Oct 24, 2018 6:34pm
I've been in forex trading for 3 years, and I have not won anything.
I read about SR, trendlines, pullbacks, patterns, I tested several indicators and even then I can not consistency.

So I think I need to review a lot and would like to know what strategy I should focus on to get better results: SR, priceaction, indicator? but not only that. I would like indications of materials that best teach this strategy.
The best way to figure it out is by backtesting it yourself
  • #2
  • Oct 24, 2018 10:21pm Oct 24, 2018 10:21pm
You are never going to get consistency looking at a chart where every single "candlestick" of info its different from the all previous one; every single line you draw, every indicator you use wil be based and calculated on this "ramdoness" implicit in this kind of time based information !!

you put 1000s traders with the same chart and say to them: "draw supp/ress lines, trend lines, fibo, etc" and all the crap you can imagine and you WILL get 1000s DIFFERENT LOOKING CHART ?!?!?

Wichs one its the "correct" one??

No consistency from the start.. no positive results after that
  • #3
  • Oct 24, 2018 11:30pm Oct 24, 2018 11:30pm
Why don't you give fundamentals a go. You don't have anything to lose from trying.
  • #4
  • Edited 5:17pm Oct 25, 2018 8:53am | Edited 5:17pm
If after 3 years trading you won nothing, I assume you need to think about some automatically trading system.
For example, right now I am trying { information deleted by staff, per membership policy } and it looks pretty promising. Will see the results after few months
  • #5
  • Oct 25, 2018 10:04am Oct 25, 2018 10:04am
To learn to trade you have to read, yes, but you also need to practise. Open a demo account and practise as much as you can, form a trading plan, don't deviate from it, keep a detailed record of your trades, don't invest large sums on a live account until you are consistently profitable on the demo account.
  • #6
  • Oct 26, 2018 12:01am Oct 26, 2018 12:01am
Start from fresh, analyze your mistakes which you have made in past years and start practicing on demo.
  • #7
  • Oct 26, 2018 9:50am Oct 26, 2018 9:50am
Gabrields makes a good point, start with a totally different strategy if necessary.
  • #8
  • Oct 26, 2018 12:53pm Oct 26, 2018 12:53pm
Quoting tunermw
I've been in forex trading for 3 years, and I have not won anything. I read about SR, trendlines, pullbacks, patterns, I tested several indicators and even then I can not consistency. So I think I need to review a lot and would like to know what strategy I should focus on to get better results: SR, priceaction, indicator? but not only that. I would like indications of materials that best teach this strategy.
and you not alone. hihihihi xixixixi
me? took years. and still learn, search, try, practice.
the most important thing is play slowly, safe the power capital (play on the most minimum risk) on the beginning until we grab fully understanding about this
happy journey
we don't predict, we only ride
  • #9
  • Oct 28, 2018 9:47am Oct 28, 2018 9:47am
For most traders it takes years. I know one guy who needed a decade to become even remotely profitable. Don't despair!
  • #10
  • Oct 28, 2018 3:10pm Oct 28, 2018 3:10pm
Quoting tunermw
I've been in forex trading for 3 years, and I have not won anything. I read about SR, trendlines, pullbacks, patterns, I tested several indicators and even then I can not consistency. So I think I need to review a lot and would like to know what strategy I should focus on to get better results: SR, priceaction, indicator? but not only that. I would like indications of materials that best teach this strategy.

it's not an easy business to master, lots of experience and practice help and 3 years is not really that long to gain expertise.

That said, after 3 years you could usefully take an honest look and work out what is stopping you. There is your method, your money management, and you. If you are not making money then any or all of these elements are not working as they should:

Method - can you demonstrate your method has a genuine edge? Without one you won't be making profits
MM - are you controlling risk well or are some/many of your losses too big? Poor MM is the #1 reason for failure
You - are you keeping an emotional equilibrium without undue anger/fear/greed/revenge/inability to handle losses?

Go through each of these elements carefully and dispassionately, work out and fix what is wrong. Then practise, practise, practise in demo or tiny size until you are really good at what you are doing. Then you have a chance of making consistent profits.

It's so much more than just seeking out a new SR/price action/indicator to play with. Any method that suits you and has a genuine edge can make money, if properly executed. But it does have to be done properly.
  • #11
  • Nov 20, 2018 4:24am Nov 20, 2018 4:24am
Quoting tunermw
I've been in forex trading for 3 years, and I have not won anything. I read about SR, trendlines, pullbacks, patterns, I tested several indicators and even then I can not consistency. So I think I need to review a lot and would like to know what strategy I should focus on to get better results: SR, priceaction, indicator? but not only that. I would like indications of materials that best teach this strategy.
Mate; did you focus on only technical tools? Instead of market price & fundamental analysis?
  • #12
  • Nov 20, 2018 10:05am Nov 20, 2018 10:05am
It's been almost a month since you resolved to review your strategy, have you reached any decisions what to focus on?
  • #13
  • Nov 21, 2018 4:29am Nov 21, 2018 4:29am
Hello, I am just 3 months old in forex. I demo-practised for two months before I went on real account for the last 1 month. I made profits and also losses but I want to be good like you guys. Please can anyone recommende a book, software I can read to assist. Please I would appreciate this. Thanks friends
  • #14
  • Nov 21, 2018 9:02am Nov 21, 2018 9:02am
Quoting Oldtraderman
{quote} it's not an easy business to master, lots of experience and practice help and 3 years is not really that long to gain expertise...
I will add this: after 3 years of trading, when everything was mixed in my little brain and I was lost, I adopted the method of Descartes.

When too much information kills the information, when it sometimes becomes totally contradictory, when a winning professional trader is in total disharmony with another winning professional trader...

Since I doubted everything: my trading method, my money mangement, my emotions, all the books and forum i had read ... I deliberately forgot everything (doubted everything) for little by little to forge my own "certainties". It is only your own certainty and especially not those of others that will allow you to adopt a trading method that suits you (to you only).
Bottomless wonders spring from simple rules, which are repeated without end
  • #15
  • Nov 21, 2018 1:30pm Nov 21, 2018 1:30pm
Quoting tunermw
I've been in forex trading for 3 years, and I have not won anything. I read about SR, trendlines, pullbacks, patterns, I tested several indicators and even then I can not consistency. So I think I need to review a lot and would like to know what strategy I should focus on to get better results: SR, priceaction, indicator? but not only that. I would like indications of materials that best teach this strategy.
Have you picked up any trading method from forexfactory? I am also trying to find a system, learn it to trade. Thanks
Determination + Persistence = Success
  • #16
  • Nov 21, 2018 4:54pm Nov 21, 2018 4:54pm
If you have spent years trying to trade and failing then maybe consider switching to a completely different approach. Give fundamentals go with news trading. You don't even need charts to decide on a trade you just need to do the research so that when the data is released you trade the reaction. I have an 80 percent hit rate without even looking at a chart until after the trade has been entered. Whatever you do just change course because technicals are not working for you,they didn't for me - everyone is different.
  • #17
  • Nov 21, 2018 6:17pm Nov 21, 2018 6:17pm
Quoting EcoTrader
If you have spent years trying to trade and failing then maybe consider switching to a completely different approach. Give fundamentals go with news trading. You don't even need charts to decide on a trade you just need to do the research so that when the data is released you trade the reaction. I have an 80 percent hit rate without even looking at a chart until after the trade has been entered. Whatever you do just change course because technicals are not working for you,they didn't for me - everyone is different.
When you say trading fundamentals, do you day trade or hold trades more than a week?
Determination + Persistence = Success
  • #18
  • Nov 22, 2018 2:07am Nov 22, 2018 2:07am
Quoting SKLearn
{quote} When you say trading fundamentals, do you day trade or hold trades more than a week?
Intraday and swing trading. Intraday news trading is very profitable. Don't listen to other technical traders that tell you it's only long term. They don't know what they are talking about, they don't trade fundamentals.
  • #19
  • Nov 22, 2018 8:48am Nov 22, 2018 8:48am
Quoting EcoTrader
{quote} Intraday and swing trading. Intraday news trading is very profitable. Don't listen to other technical traders that tell you it's only long term. They don't know what they are talking about, they don't trade fundamentals.
Can you guide me to study materials and if ok, some example trades you took in the past to refer and study, please?

Happy Thanksgiving.

Thanks
SK
Determination + Persistence = Success
  • #20
  • Nov 22, 2018 9:25am Nov 22, 2018 9:25am
I agree with EcoTrader. I am a technical trader and I don't like long-term trading at all. You can make a profit from all types of trading, you need a good strategy and to follow that strategy.
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