What helped you the most to be profitable?

My answer might seem like too ridiculous for some traders but my answer for this question is 2% monthly target is helping to become the most profitable. Basically, i use compound interest in my account & although my target is 2% but sometimes, i get to make more than 2% in a month and at those months, i withdraw all my profits above 2% and compound the 2% in the following month. if i get less than 2% or equal to 2%, i do not withdraw any profits and compound that fully in the following month. This process is helping me and also motivating me to make more profits but with less pressure in my brain.

Good luck for your future endeavors better to learn from your mistakes and try to be consistent and dedicated, you will get the success soon.

blowing an account made me realize a lot of things, and one of the most helpfull thing I've learned is to stay calm and do things slow, when unsure do not trade for not trading means not losing.

Hello everyone! The most important thing you need to know to become profitable is that you do not need to look for the perfect trading system. Yes, you can develop some kind of your own system and stick to it. This will help you not only in trading, but will also make you more disciplined and collected. Also, we shouldn't stop looking into the materials related to this case. Many people forget that the world of trading is constantly changing, some new mechanisms, platforms and stuff appear. When you write about being profitable, you have to stop being unprofitable first. To do this, you need to determine in advance how much money you can afford to lose on a particular deal. By setting a threshold, you can reduce losses. And to increase profits, you'll need to pump up your skills. Hopefully my answer will push you to something.

That's true. Losses make us realize our mistakes. One has to keep their calm and keep practicing throughout if we want to be successful.

I started breaking even and making profits once I stopped jumping from one strategy and time frame to the next. Stick to trading one strategy on a specific time frame. It does wonders.

sounds good. right now i have tried to be experienced about price action completely, but fail to continue it , its really difficult to be a professional price action trader, because need long time with long patience that i have not.

how long have you been practicing on price action ?

The first thing you need to do when it comes to achieving success in the Forex market in the shortest possible time is to understand exactly what you want to achieve.
When you think about it, you have to be realistic. Set yourself a clear goal. It can be something like to achieve 20% annual return on investment, earn $5000 in profit, get a total of 100 points per month or something like that.
Whatever you decide, your goal should also be easily measurable. In addition, it is important to set a goal that can be achieved over a long period of time - it is recommended that you set an annual goal rather than a monthly goal to achieve.
Once you have defined your main trading goal for the year, it is time to start exploring how to achieve it. A successful trader knows that it is very important to determine what resources are available to you.
The resources that successful traders focus on include: the size of your deposit, the amount of time you have available to trade, and the amount of funds available that you are willing to spend on matters related to trading (software, etc.).
Now that you know what you want to achieve and what resources you have, it is time to make a trading plan. It should include the currency pairs that you plan to trade and the number of trades that you intend to make. This is of course difficult without the right strategy, so first prepare a template for your action plan and then move on to the next step.

Do not worry. You will, one day.

I don't see why setting a goal will help in any way
the markets can be flat and you don't make money one month/year (whatever) and the other month/year you make double.
markets are not a money printing machine where you can get exactly the same amount each year...
and how does it help ?
Jeff

Silently following Davit's pivot trading strategy for two years, first a guest member then as junior member. Tried his methods on a demo account learnt and re learnt from my mistakes and followed the guidance provided on the aforesaid thread i open up a live account with $60 at the end of March 2020. Here are the results to date.




Thanks Davit (couldn't post it there as don't have the credentials to do so)

I made some mistakes at the beginning of a trading career and I lose my money but after it I have tried to avoid those mistakes in my next trades I have started making some profit so I have learned a lot from my mistakes.

i think there is no beginner who can avoid this kind of mistake , its very common attitude and character , you understand the issue , its a very positive site. always request dont do same mistake again , always remember same mistake is not a mistake its a choice.

My control over my emotions helped me to become a profitable trader.

Here's what I think about what's needed to be profitable:

1. Trade with clean charts, try to understand what moves price and why
2. Follow as many systems as you can, take something from each that fits your personality
3. Take into consideration you will make mistakes and loose money at the beginning, this is a marathon not a sprint, it takes a doctor to become one after 7 years, being a trader is no different.
4. Try to learn from your mistakes so you will tweak your system as much as you can until you will reach a point you can't find a way to do so.
5. believe in yourself, understand that it's okay to have a losing trade(s) and most importantly, as a result, don't change your system and try to find the holy grail, you won't get out of this loop.
6. Always try to develop and learn new ideas from other traders (see bullet #2 above)

I realized that a time frame is just a time frame. They all draw the same patterns. They differ in the range from high to low and in the frequency of those ranges. If they are all functioning the same, then when their movement aligns to each other, I should make profit.

Correct

If you can't tell the difference between M1 and D1 charts then something has gone very awry.

Book "The science of getting rich" by Wallace D. Wattles

In short - you have to always improve your skills. If you work day time job - first improve skills there. Earn capital. Then go to forex. Allocate 10% of our capital for trading. And then from that 10% allocate again 10% to some forex strategy you learned.

For example, you earned in day time job free capital 10000 USD. Then you allocate for your forex adventure 10% = 1000 USD (that's it - no more). Then you learn some strategy (manual or EA) - it seems about 1-2 years needed at least (my case). First with demo account. Then from your 1000 USD allocated capital, you take 10% (100 USD) and start trade with a real account. Be ready to fail at least 3-5 times (blow out your account). After fails you gradually will understand how to trade..

And yes - in your forex journey you still apply "The science of getting rich" - you continue day time job skill improvement and in spare time learn forex and improve your trading skills too.

Don't go to forex with real money if you don't have free capital at least 10000 USD (and use in forex only 10% of that). You must learn how to earn capital from your day time job. Learn to manage your salary first. Learn not to spend all your money (emotions control - you will need that in forex anyway).