Forex trading is not as hard as you are thinking. Same thing happened to us when we were new & had same kind of trouble. However, all you need to do is - stick in a single strategy rather than keep changing every few days.
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according to you , Forex trading is not hard , it looks more complicated above all for the traders who are newcomer. i dont agree at all , only 5% traders are able to bring profit consistently from here and others become loser. by the way , how much you can return from trading in a week ? i hope , a lot , because its easy for you
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Joined Aug 2020
|109 Posts
You work with a good strategy. Loss, but stick to that strategy. I have been trading for 4 years and still can't make a consistent profit. But I have learned a lot and from this education, I want to achieve success one day. So keep trying to be able to consistently profit one day.
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Joined Aug 2020
|109 Posts
There will be loss in trading but it is possible to maintain consistency only if this loss has to be maintained. I was a loser for 4 years when I was a beginner trader but by covering that loss I have now become a profitable trader. Because I had a lot of patience and a strong desire to win.
I have also lost more money in trading years. Now, I need to be more patient. especially at times of uncertainty that will not enter the market. all need more consideration
I have also lost more money in trading years. Now, I need to be more patient. especially at times of uncertainty that will not enter the market. all need more consideration
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This is a nice mindset. I do hope you will get a win soon.
I do think that there must be something that you are not looking properly considering you have been making no win in the last 3 years. Have you considered checking out what caused that issue to why you are not able to make a profit?
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Joined Jul 2020
|131 Posts
It's not about how many years we are trading. It's about how quick we learn from our mistakes. Even after trading for long times most traders are not discipline. They can't control their emotions. Most of the time they open trade out of greed or fear.
The only thing you need to do is find one strategy and stick to it. Whether it is scalping, Engulfing, Pin Bar, the hammer, inverted hammer, become an expert in that one strategy and learn everything you can about the strategy, especially how it trades in various time charts for various currency pairs.
You should be testing out the strategy inside a demo account first anyway. Before trading in the live account you should become an expert on a strategy inside the demo account, paper trading, and it should not take you 3 years to become an expert in one. Once you learn that strategy to the maximum it can be learned, and your making steady profits with it, then you should try and master another strategy inside a demo account and continue to grow as much as you can as a forex trader.
You should be learning how the forex trading strategy reacts to fundamental news, works with indicators, etc. Also backtest the strategy before you place the trade which will help you not only to learn but also put your mind at ease for the trade(s) you are about to make.
The only thing you need to do is find one strategy and stick to it. Whether it is scalping, Engulfing, Pin Bar, the hammer, inverted hammer, become an expert in that one strategy and learn everything you can about the strategy, especially how it trades in various time charts for various currency pairs. You should be testing out the strategy inside a demo account first anyway. Before trading in the live account you should become an expert on a strategy inside the demo account, paper trading, and it should not take you 3 years to become an expert...
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Joined Jan 2020
|265 Posts
Forex trading is already a risky business. If you take more risk in a risky business, your downfall is a matter of time. It's better to manage risk while trading.
Forex trading is already a risky business. If you take more risk in a risky business, your downfall is a matter of time. It's better to manage risk while trading.
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Managing risk is also ensure your survival in this dangerous market.
