The Secret to Success and profitable trading - What is it?

Been doing well for a while. But George and others helped me improve further :-)

Good to see you mate

I find your language offensive. Clearly you are upset about something. Many come to forex factory and get jealous of others.

I am blocking you because the language isn’t needed here. This thread is to help others

Just ignore him mate he’s not relevant and doesn’t get the point of the thread

Fully agree with you here mate

I’m on the same boat! On my main strategy.

On a few I am playing with around 80% but working to get that up to 90%+ it is possible as there are many I know with 100% wins.

Lol

Exactly the point of the thread to allow people to learn from each other. Mix someone else’s skills with there own.

Because I personally took what many people taught me and combined it into my own system. Which is unique.

Im sure many others have done this and had success. Following the right people is key. I can tell you Profit Farmer ad Aussi have been around a while and I have looked at posts from them. They do know what they are talking about.

No no one is perfect. Everyone is right in there own way.

And there is no wrong in this game.

We all all have our own ways to make money!

Guys if I see one person that is bringing the thread down I’ll remove them. Not going to do this for people having a valid point or a disagreement.

But when one one person is using bad language or just arguing with people especially experienced traders then they don’t belong.

Having the mix of new and experienced traders is what will allow this thread to grow and become useful :-)

HI Daniel , over the years on ff traders come and go but at times we find good trader friendship , we might disagree on trades and how to do them but we remain friends , its clear on any thread if you are a good trader you are always going to get the greed and on the plus side we get trader who do want to learn and keep an open mind , i even at 68 i love new ideas and at times research them if i do not like what i see i do move on and keep looking at ideas , thats how trader learn this thread a so many others have so much potential for new traders ,kindest regards

The secret of success is to learn from your mistakes, so that over time you have fewer mistakes and your successes give you greater profits than losses continuously

Ok guys as promised here is the next part.
Which system.

This was was meant to come yesterday but was a bank holiday in the UK so I took some well needed family time.

Ao the system.

Not necessarily the most important but it’s up there. Once you pick a system the key is to tweak it and make it suit your style of trading.

Now systems to avoid.

Anything that is being sold for a few hundred dollars.
Anything that comes from someone posting pictures of fast cars fast women and luxury holidays lol.

Most good traders keep their personal like to themselves! So the ones flaunting it are having that life because of sells of dodgy systems.

KISS.
Keep it simple stupid.

This is is very important I feel as the more complicated the system the more chance of failing.

Start with something very simple. Replicate it over and over and over again.

Personally I run data to MT4 that gives me 99% tick history. And it really helps when going live.

once you have 50% or above. Tweak tweak and tweak until you get it 60%

then from here keep pushing and pushing. Because it is possible to get it into the 90% bracket. But to do this part is in your mind, your control your discipline. And EA won’t get you here.

An ea will get your initial entry yes.

But to perfect your entry. You need the right combination of indicators to suit your style of trading. They must also compliment each other.

Im going to post a few simple strategies this week that an be used: they aren’t my own but they are ones I have developed and they do turn a profit. I don’t use as my system gives me what I need with the Minimal work.

Hopefully a few experienced traders can give little hits to you newbies and give you simple but effective things to try.

As Aussie said there is nothing wrong with always learning and developing skills. There is always a new way to trade. But if you find a winning one that suits your lifestyle and mindset. Stick to it good and bad.

Dont lose a trade and drop it.

There is such a thing as law of larger numbers look it up. If you toss a coin 100 times in the end you will end up with a close 50/50 result.

But you can clip a coin 10 times and get 10 tails! Had you held on it would have evened its self out.

Now knowing this. You can be very profitable with a 50/50 win ratio. With correct money management. But we can move to that later in posts.


For any nee trader you are told use higher time frames etc etc. And ok yes this is sensible but for me I went straight into the lower times and learnt the hardest part first.

You first must ask yourself which trader am I?

Do you always need to be active
do you like just trading an hour or so a day
do you only like trading once per week?
Do you have the discipline for the above?

Any new traders post and im sure we can all help you.

Scalping isn’t for everyone and nether is long term trades.

Or ontraday trading.

So it has to be right for you.

Everything I am going through is simply to be able to put it all together at the end and be profitable.

Because the fact is it is possible.

It just takes many 1000 piece puzzles to all come together.

People all go on about mindset. Well this is because you can give anyone a system that’s winning for you. And find that the same person that has it loses.

Its not a coincidence. Most traders fail because they are not happy in themselves, they want to get to the finish line too quickly or they are too arrogant to admit they can still learn and improve.

Myself although every day is a winning day and my strike rate is very high. I know I can always improve as the market is always changing.

Technology is always developing and so are minds.

Now at at some point this thread will turn to postings of charts and live trades but this will all be done via naked charts because I want to prove that even with the most simple or trading strategy’s you can still compound an account.

Now back to strategies......

Here’s a very simple one to get it started

3 moving averages 2 time frames.

Price pulls into one one of these. Moving averages are spread out. Does anyone know which 3 movie averages which time frames I’m talking about.

Its a very simple but effective strategy. Not invested by me but is a scalping Strategy

Very true.

Agreed mate. Would be good to get together sometime and trade

Hi guys,

on another note it’s a good idea to have your own mood/quote board.

Put it it on your wall where you trade. Put things like pictures of dream home a dream holiday, quotes to keep your mind on the right path.

Honestly it does help. Having a goal and achieving it is the best feeling in the world