How I Became Successful In Forex... The Secret | Page 2 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

How Forex Trading Ruined My Life or How I Became Successful? 17 replies

Typical backround of a successful Forex trader? 16 replies

Why did the CAD became weaker 3 replies

Observed: The spreads of AxiTrader became much wider recently 8 replies

Admiral Markets SL/GAP SL 200 became 1000! 0 replies

Attachments: How I Became Successful In Forex... The Secret
Exit Attachments

How I Became Successful In Forex... The Secret

  • #21
  • Nov 18, 2019 8:52am Nov 18, 2019 8:52am
Quoting Forexcup
{quote} Yes i will change that. What i meant was to just follow your strategy and place your tp and sl without fear. I just follow my strategy according to it i had to place a buy so i did. If it hits tp fine otherwise i am ready for sl. if all are in loss. It's ok because win rate is high so will recover soon. Though now i have recovery plan in working too which makes me earn every single day without loss.
Well done.
  • #22
  • Nov 18, 2019 3:41pm Nov 18, 2019 3:41pm
Quoting Forexcup
{quote} You are welcome helday. All entries are preplaned. Yes i split my total lots. It is not that the trades go against me its just to add my profits and reduce loss on next trades....My Success rate is pretty high almost 90%+ and because my tp is small as compared to sl so all the trades get aggregated. The sl becomes smaller and tp becomes bigger that way... then its very easy to trade with a bigger sl even though it hardly gets hit. Without adding more trades it was still profitable but this is how i planned it now after trading for months....
Cool!! So instead of betting that price is "going there" you are - with your split lots - mainly betting that price is not going to retrace there (your SL)?

Thanks for the thread
Regards
Swnlobo
  • #23
  • Nov 19, 2019 8:23am Nov 19, 2019 8:23am
Quoting Swnlobo
{quote} Cool!! So instead of betting that price is "going there" you are - with your split lots - mainly betting that price is not going to retrace there (your SL)? Thanks for the thread Regards Swnlobo
i have a strategy that i follow it has a high win rate but the problem is sl is much bigger than the tp so by splitting lots i decrease the loss and increase the profits. ITs not betting its a tested strategy.

I do cut down the losing trades in time too that's a key factor too. Some days like today are tough have to be patient.
  • #24
  • Nov 19, 2019 8:30am Nov 19, 2019 8:30am
I see that the trades are posted live here. So i will be removing the trade explorer when i trade and post it back again after i am done.
  • #25
  • Nov 19, 2019 9:03am Nov 19, 2019 9:03am
My deposit now $5000+
  • #26
  • Nov 19, 2019 12:24pm Nov 19, 2019 12:24pm
Quoting Forexcup
My deposit now $5000+
Congratulations!!
  • #27
  • Nov 19, 2019 12:48pm Nov 19, 2019 12:48pm
Quoting Forexcup
My deposit now $5000+
Wow, did you already converted the 2000 you mentioned in post #19 into 5000?
  • #28
  • Nov 19, 2019 2:14pm Nov 19, 2019 2:14pm
All well but as long as 90% of fx traders dont have 90% winning strategy these advices are nice to hear.. but thats it.
  • #29
  • Nov 20, 2019 12:19am Nov 20, 2019 12:19am
I think I share a lot of same experience and trading mentality with ForexCup.


After spent almost 8 yrs without success, I realized that it is not my trading strategy, but my approach to market.

I knew all those technical - candles tell, BB, Stoch, RSI and more in addition to price actions patterns.
I studied all the best available trading system on the internet, bought a lot of books to study technical.
I was an engineer and I thought I had to find a right solution for the problem - just like what an engineer would on the any problem.

Somehow, I always made some money in the beginning period with newly funded account ..but started losing money down the road.
More likely, I had to take money out after 30-40% account gone within 3 months … and back to study again.

Why? What happened?

Luckily, I was making a lot of money and trading was just side work and it continued same story for another 6-7 yrs.

End of last year, I did quit my work and I thought I can make some extra money doing forex trading.
For that reason, I spent a lot of time and created own trading strategy.. indicators.. and funded my account with a large sum of money.

In the end, within 3 months, same thing happened.
Difference was that I lost some serious money this time.


Probably, everyone in this thread read something like below in some places.

Use low leverage
Use longer time frame
Trend is your friend
You don't have to be in the market all the time.
Cut your loss and run your profit
Stick to your plan and be good at it.
... more


All of those was basically telling same.
It is not your trading method but how you trade that will make your a successful trader.


After review after review on what happened, most of time, I realized I lost because I was using high leverage.
High leveraged trade combined with trading in shorter time frame was the wrong combination for sure.


Once I started using longer time frame with very low leverage - like Daily - combined with cut loss quickly, I started making money.
I only use those common indicators like TSR, BB and QQE and so far so good.


Maybe, not much of profit at this stage as I am only using few k as trial again.
But, for sure, I am in different stage of trading mind now.


I will give my review and feedback on pdf later.
  • #30
  • Nov 20, 2019 12:29am Nov 20, 2019 12:29am
Just read another thread with similar story again:

Quoting bhmoney
There is a million ways to skin the cat and to each their own. In my 25 years of active day trading one thing I have always found consistent with failure was the inability to control risk i.e. adding to losers, too great of size. I have seen so many traders with profitable systems proven over a period of time fail because of one bad trade on one bad day in which they let their emotions take over and decided to break their rules. It happens on a daily basis, ask any experienced broker. Anyone can develop a system that fits within their style, but...
  • #31
  • Nov 20, 2019 1:52am Nov 20, 2019 1:52am
Another account added. 70%+ Gain already in less than a month started ..Deposit is $100 and bonus was 100% so total showing $200 so on actual deposit its 70%.

https://www.forexfactory.com/forexcup/179685
  • #32
  • Nov 20, 2019 2:37am Nov 20, 2019 2:37am
Quoting Vic80
{quote} Congratulations!!
thanks
  • #33
  • Nov 20, 2019 2:38am Nov 20, 2019 2:38am
Quoting Merka
{quote} Wow, did you already converted the 2000 you mentioned in post #19 into 5000?
no bro i deposited more money so i could take bigger lots. not so fast lol....trading takes patience and time to make big money need huge capital.
  • #34
  • Nov 20, 2019 2:38am Nov 20, 2019 2:38am
Quoting The1Student
All well but as long as 90% of fx traders dont have 90% winning strategy these advices are nice to hear.. but thats it.
you can become one of top 1% following these advises brother
  • #35
  • Nov 20, 2019 2:41am Nov 20, 2019 2:41am
Quoting BlueRain
I think I share a lot of same experience and trading mentality with ForexCup. After spent almost 8 yrs without success, I realized that it is not my trading strategy, but my approach to market. I knew all those technical - candles tell, BB, Stoch, RSI and more in addition to price actions patterns. I studied all the best available trading system on the internet, bought a lot of books to study technical. I was an engineer and I thought I had to find a right solution for the problem - just like what an engineer would on the any problem. Somehow, I...
YES TO BE SUCCESSFUL TRADE ON BIGGER TIME FRAMES.
I DO DAILY AND MONTHLY TFs.
  • #36
  • Nov 20, 2019 2:51am Nov 20, 2019 2:51am
Quoting ChilledT
Thanks for the PDF, I will have a read of it later today... I like the emphasis you place on meditating and the internal work needed to succeed. It certainly is an inside job! All the best :-)
yes lot of times i have the gut feeling telling me exactly what to do... like i closed the gbpchf trades in time yesterday was something inside me telling me always to close losing trades in time...

your second BRAIN IS IN YOUR GUTS REMEMBER THAT! It's already proven..and it's more needed here in trading than anywhere else i guess...
  • #37
  • Nov 20, 2019 2:52am Nov 20, 2019 2:52am
Quoting wagneer
Thanks for sharing. I only turned the key when I understood what to do when the market is against me. Hugs
welcome bro.
yes that's most important to master.
  • #38
  • Nov 20, 2019 6:18am Nov 20, 2019 6:18am
lol is this for real...lol
Pip Goes The Weasel
  • #39
  • Nov 20, 2019 10:23am Nov 20, 2019 10:23am
Watch my REAL TIME GOLD trades all live....

https://www.forexfactory.com/showthr...8#post12625878
  • #40
  • Nov 20, 2019 10:31am Nov 20, 2019 10:31am
Quoting adrazz
lol is this for real...lol
lol !!! you havent seen the real thing yet bro not disclosing all accounts here yet
0 traders viewing now