8 Years Later - Still Not Winning | Page 34 | Forex Factory

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8 Years Later - Still Not Winning

  • #661
  • Mar 12, 2019 9:50am Mar 12, 2019 9:50am
Does anyone know good sources to learn about economic indicators ?
  • #662
  • Mar 12, 2019 11:18am Mar 12, 2019 11:18am
the saddest part about this trading occupation is nobody is going to really teach you, unlike other profession--medicine , computer science etc. you have to learn the entire discipline from scratch and hopefully along the way- you find the key. in the beginning, it looks so simple and perhaps you get lucky and you think you are a genius and then the learning begins. its long hard lonely journey. meanwhile life passes you by. you got to marry, raise a family, buy a house, you can't live on hope, no GF, wife will tolerate this comatose occupation which get you nothing but instead you lose your money every time. the fear is you can be addicted to it just like gambling. sorry its rough.
but if you are working for prop firm they could teach you some, it makes some sense then. they need you to make money too, so they get some of the percentage.
  • #663
  • Mar 12, 2019 11:31am Mar 12, 2019 11:31am
Quoting keepmoving
Does anyone know good sources to learn about economic indicators ?
Just learning about the indicators is not enough. You won't be able to trade off of them in isolation. You need to learn about central banks and sentiment to have a chance of success
  • #664
  • Mar 12, 2019 9:05pm Mar 12, 2019 9:05pm
Go back to basics, form a system using basic price action, SnR and TLs and do back testing like crazy.
Learn to look for market flaws which exist. Know what your goals are, 10% a year? 100% a year?
And check whether your system can do it's job to achieve these targets.

Last is >> Psychology and Discipline that pieces everything together. No use of having a positive ROI system when you can't handle it.
  • #665
  • Mar 12, 2019 9:23pm Mar 12, 2019 9:23pm
Quoting neesh24
STILL NOT WINNING.
I am also a fail trader for the past 10 years.(i have 2 years extra)

I dont bother how to win, im more focus on how to manage my loss.

And yes, starting this year I manage to withdraw every month and not losing my capital.

Cheers
Yoobbie
  • #666
  • Mar 14, 2019 9:52am Mar 14, 2019 9:52am
Quoting EcoTrader
{quote} Just learning about the indicators is not enough. You won't be able to trade off of them in isolation. You need to learn about central banks and sentiment to have a chance of success
I do not use stop losss and take profit. Could you please give me an advice. Is it right or wrong ? I do not believe in technical analysis so i mostly use fundamental analysis
  • #667
  • Mar 14, 2019 10:27am Mar 14, 2019 10:27am
Just consider the amount of money Forex can theoretically pay you.
It is more or less than what a doctor make?
If is more?
How many years it takes to become a physician?
Forex turns 5 trillion each 24 hours, so the brightest minds are on it.
You are fighting against those minds and their algos and supercomputers.
They also have billions of dollars and inside information.
So...... I think that in the light of just those few facts 8 years is not a big deal.
What confuses things is that 99% of posters who claim gains here in FF are just lying.
Don't call me. I call you!
  • #668
  • Mar 14, 2019 10:37am Mar 14, 2019 10:37am
Quoting traderfox7
the saddest part about this trading occupation is nobody is going to really teach you, unlike other profession--medicine , computer science etc. you have to learn the entire discipline from scratch and hopefully along the way- you find the key. in the beginning, it looks so simple and perhaps you get lucky and you think you are a genius and then the learning begins. its long hard lonely journey. meanwhile life passes you by. you got to marry, raise a family, buy a house, you can't live on hope, no GF, wife will tolerate this comatose occupation...
You don't learn how to trade. You become a trader.
It is a change of heart.
You evolve to something, you become a different human being when you "learn" this business.
Thats why 2 traders can use the same system an one makes money while the other loses.
Don't call me. I call you!
  • #669
  • Mar 14, 2019 10:43am Mar 14, 2019 10:43am
Quoting MarginCalled
Just consider the amount of money Forex can theoretically pay you. It is more or less than what a doctor make? If is more? How many years it takes to become a physician? Forex turns 5 trillion each 24 hours, so the brightest minds are on it. You are fighting against those minds and their algos and supercomputers. They also have billions of dollars and inside information. So...... I think that in the light of just those few facts 8 years is not a big deal. What confuses things is that 99% of posters who claim gains here in FF are just lying.
you don't need to fight against the brightest minds, you just need to follow them.
  • #670
  • Mar 14, 2019 11:00am Mar 14, 2019 11:00am
Quoting EcoTrader
{quote} you don't need to fight against the brightest minds, you just need to follow them.
Markets are intrinsically a fight.
Brains, supercomputers, black boxes, algos etc are clashing against each other.
The result is the market direction.
If you can let it run when you are right , or most importantly CUT YOUR LOSSES when you are wrong ...........
Don't call me. I call you!
  • #671
  • Mar 14, 2019 11:33am Mar 14, 2019 11:33am
Quoting MarginCalled
{quote} Markets are intrinsically a fight. Brains, supercomputers, black boxes, algos etc are clashing against each other. The result is the market direction. If you can let it run when you are right , or most importantly CUT YOUR LOSSES when you are wrong ...........
I wouldn't class it as a fight, the professionals are not watching opponents when making trading decisions they are watching news flow which is the same for the algos (the ones that don't operate arbitrage strategies).
  • #672
  • Mar 14, 2019 11:39am Mar 14, 2019 11:39am
Quoting EcoTrader
{quote} I wouldn't class it as a fight, the professionals are not watching opponents when making trading decisions they are watching news flow which is the same for the algos (the ones that don't operate arbitrage strategies).
watch the video BILLION DOLLAR DAY on youtube.
It will give you a glimpse on how the inter-bank market works behind the scenes.
Don't call me. I call you!
  • #673
  • Mar 14, 2019 11:40am Mar 14, 2019 11:40am
Quoting MarginCalled
{quote} watch the video BILLION DOLLAR DAY on youtube. It will give you a glimpse on how the inter-bank market works behind the scenes.
I don't need to watch a youtube video, I have worked in the industry for the last 20 years and know how they trade.
  • #674
  • Mar 14, 2019 11:56am Mar 14, 2019 11:56am
Quoting EcoTrader
{quote} I don't need to watch a youtube video, I have worked in the industry for the last 20 years and know how they trade.
In my opinion you don't sound like somebody with that many years in your belt.
But I may be wrong
Anyways carry on my friend !
Don't call me. I call you!
  • #675
  • Mar 14, 2019 12:10pm Mar 14, 2019 12:10pm
Quoting MarginCalled
{quote} In my opinion you don't sound like somebody with that many years in your belt. But I may be wrong Anyways carry on my friend !
Enlighten us, what does somebody with 20 years industry experience sound like?
  • #676
  • Mar 14, 2019 12:22pm Mar 14, 2019 12:22pm
Quoting EcoTrader
{quote} Enlighten us, what does somebody with 20 years industry experience sound like?
LOL! Don't take it the wrong way my friend.
It was just a opinion ......
My years of futile arguments over the net, specially here in FF are over
carry on
At the end of the day ( if you make money ) what is my opinion worth for?
Don't call me. I call you!
  • #677
  • Mar 14, 2019 12:39pm Mar 14, 2019 12:39pm
Quoting MarginCalled
{quote} LOL! Don't take it the wrong way my friend. It was just a opinion ...... My years of futile arguments over the net, specially here in FF are over carry on At the end of the day ( if you make money ) what is my opinion worth for?
Futile arguments are started by misinformed opinions. You are trying to convey opinion as fact using a youtube video as your reference source. I don't give a shit what you think of me or my experience, but at least keep the facts accurate.
  • #678
  • Mar 14, 2019 1:17pm Mar 14, 2019 1:17pm
Problem with 99% of "traders" is that they just place a couple live or demo trades to say "ok/no" to a system and never backtest it in the long term. they just want to dream basically...
  • #679
  • Mar 14, 2019 11:58pm Mar 14, 2019 11:58pm
Quoting keepmoving
{quote} I do not use stop losss and take profit. Could you please give me an advice. Is it right or wrong ? I do not believe in technical analysis so i mostly use fundamental analysis
Then when do you stop loss? or when do you take profit? if you have a criteria for it would you follow it EVERY single time? or based on feeling?
  • #680
  • Mar 15, 2019 5:36pm Mar 15, 2019 5:36pm
Maybe what you need now is to take a break and re-strategize, to see where you are failing and where you need to work on.
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