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  • #1,241
  • Oct 26, 2018 4:02am Oct 26, 2018 4:02am
Just closed my short position of one of my two baby accounts. Did a 500+ pip run on that one for two months. The account is under 1k so I usually let it run it's course on the daily chart. It still looks like it could go down to 137 or thereabouts. Hopefully it will retrace a bit and I will continue the short.

I use the Haken Ashi Candles to generalize the erratic price action. It could be in the red for sometime. Anyway, it's good to take a breather and reexamine its trend.
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Taigen Profit This Month: na
  • #1,242
  • Oct 26, 2018 4:09am Oct 26, 2018 4:09am
Quoting tunermw
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
Most problems for traders is they position to heavy. If your account is under 1k to 10k then stay with micro pips. I usually place my pips in the PA 10 or 15 pips apart as it goes against me. You might want to try something like that. Wish you well.
Taigen Profit This Month: na
  • #1,243
  • Nov 3, 2018 8:22am Nov 3, 2018 8:22am
My two cents. If you live in a country that allows brokers to trade in nano pips, and if your account is under $500 USD, then your proportionality of a trade to account size is no different than the big boys. Since I live in the US where the smallest unit is a micro pip, what I'm saying is probably already well known. Eventually pennys become dollars and a 'nothing' account can be quite substantial.
Taigen Profit This Month: na
  • #1,244
  • Nov 3, 2018 9:18am Nov 3, 2018 9:18am
Quoting Taigen
My two cents. If you live in a country that allows brokers to trade in nano pips, and if your account is under $500 USD, then your proportionality of a trade to account size is no different than the big boys. Since I live in the US where the smallest unit is a micro pip, what I'm saying is probably already well known. Eventually pennys become dollars and a 'nothing' account can be quite substantial.
That is very good advice. I wish someone had given it to me back when I began trading.
  • #1,245
  • Nov 3, 2018 9:59am Nov 3, 2018 9:59am
I would not give up completely. Study your prior trades and system. Try to identify what was done wrong. I have tried many different systems and have one that is working for me now however it has to be followed strictly or it can go up in flames. I took a year off, developed an Expert Advisor so I would not be tempted to deviate from my system and now I am starting to trade live again and make some progress. Just keep your head up and keep going!
  • #1,246
  • Nov 4, 2018 11:39am Nov 4, 2018 11:39am
It’s all about emotion. I can’t believe the amount of trades I have closed and lost money only for price to go in the direction I thought it would. It’s having confidence in your trading decision and not over leverage.
  • #1,247
  • Nov 5, 2018 5:14am Nov 5, 2018 5:14am
trading is something not everybody get profit out of. luck matters a lot and ofcourse skills to. don't loose hope just have something side by side to earn your livelihood and trade on demo for learning . yes, go back to demo account and start with the basic.
  • #1,248
  • Nov 5, 2018 7:05am Nov 5, 2018 7:05am
Quoting kryptoniteFX
trading is something not everybody get profit out of. luck matters a lot and ofcourse skills to. don't loose hope just have something side by side to earn your livelihood and trade on demo for learning . yes, go back to demo account and start with the basic.
I don't think luck matters all that much, because luck is fickle, to state the obvious. If you rely on luck you're gambling, not trading, and most gamblers lose money.
  • #1,249
  • Nov 5, 2018 7:45am Nov 5, 2018 7:45am
Quoting mlawson71
{quote} I don't think luck matters all that much, because luck is fickle, to state the obvious. If you rely on luck you're gambling, not trading, and most gamblers lose money.
statistically, most traders also lose money. anything that involves risk can be considered a type of gambling.
As Above, So Below
  • #1,250
  • Nov 5, 2018 8:39am Nov 5, 2018 8:39am
Quoting tashkent
{quote} statistically, most traders also lose money. anything that involves risk can be considered a type of gambling.
Hi buddy!!! I am still in after 5 years.
don't predict direction, but dance with flow of water
  • #1,251
  • Nov 5, 2018 8:43am Nov 5, 2018 8:43am
Quoting priceaction1
{quote} Hi buddy!!! I am still in after 5 years.
you are a good trader, PA1. I know you play aggressive sometimes but you know what you are doing.
As Above, So Below
  • #1,252
  • Nov 6, 2018 1:43pm Nov 6, 2018 1:43pm
Quoting priceaction1
{quote} Hi buddy!!! I am still in after 5 years.
hi Tashkent, how about the business other than forex. also involved risk??
  • #1,253
  • Nov 6, 2018 2:26pm Nov 6, 2018 2:26pm
Quoting loveandpeace
{quote} hi Tashkent, how about the business other than forex. also involved risk??
the concept of "risk" alone is not a measure. indeed, some businesses do have weak to strong characteristics of gambling.
As Above, So Below
  • #1,254
  • Nov 6, 2018 4:23pm Nov 6, 2018 4:23pm
Sometimes i think of the word ''risk'' as fear. LoL
  • #1,255
  • Nov 7, 2018 8:34am Nov 7, 2018 8:34am
Quoting mosesm102
Sometimes i think of the word ''risk'' as fear. LoL
Why? Being wary of the risk is to be rational, in my opinion.
  • #1,256
  • Nov 7, 2018 6:16pm Nov 7, 2018 6:16pm
Quoting fxstaton
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
keep trying
  • #1,257
  • Nov 9, 2018 8:19am Nov 9, 2018 8:19am
Get back to demo until you start being consistently profitable.
1. Find a broker NDD broker that has the same conditions on demo as on live.
2. Open a demo with the same amount and leverage as you would use on live.
3. Start trading until you make consistent profits.
4. Go to live with that broker.
  • #1,258
  • Nov 10, 2018 7:12am Nov 10, 2018 7:12am
Quoting UlliC
Get back to demo until you start being consistently profitable. 1. Find a broker NDD broker that has the same conditions on demo as on live. 2. Open a demo with the same amount and leverage as you would use on live. 3. Start trading until you make consistent profits. 4. Go to live with that broker.
Consistency is the key mate! New traders should practice their demo account until they are consistent enough! Judging trading skill too early is another common problem by the new traders!
  • #1,259
  • Nov 11, 2018 1:04am Nov 11, 2018 1:04am
Join the cryptocurrency market
  • #1,260
  • Nov 11, 2018 6:59am Nov 11, 2018 6:59am
Quoting DarrenLehma
{quote} Consistency is the key mate! New traders should practice their demo account until they are consistent enough! Judging trading skill too early is another common problem by the new traders!
That's true. I've seen so many comments like "I have been trading for a month and I have been profitable, should I move onto a live account?".
No. Please, don't do it. A month is not nearly enough time to figure out whether you are consistent or not. The market changes during the year, a strategy that worked during the summer may not work as well during the winter, and so on and so forth. Don't be hasty when you invest your money.
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