Quit or keep trading

LOSING, not LOOSING.

no those lines are not pivot. the light blue line is daily open. Time of day is more important to me.

Yeah easy to see about the open lines. But can't figure the time factor.

Fibonacci or Murray Maths grid?

no not FTMO, i do have a combine account (3 x $100,000) with FTMO, which I use to trade crypto. MFF lower target and much cheaper.
when I started with MFF I had to wait for days to get account details, now they are pretty fast, almost instant.
Both firms payout are pretty straight forward no delay.

Maybe thread starter who doesn't want to demo can try prop firm as long as in profit but not reach target can retry again and again.

these are the time I watch for repetitive patterns - 12am (GMT) and 8am (GMT)
No Fibo, no pivot, no murray maths

Quit, yes just quit buddy
I did it fifty times already in last10 year, doesn't work for me, maybe will for you, let mi know how is going, please

It should be a mistake bro. That's only what you can see. You are highly sensitive to unnecessary point. Can you be profitable in trading at all?

Hello keepmoving. What a great choice to open a thread about this !! What great posts ! I am sure you realize how fortunate you are, some very very good suggestions above indeed ! I am sure that this thread will help many to see the incredibly generous and amazing suggestions here, and that is all you keepmoving ! Here are my thoughts on your situation, well, other than what is shared above, so I will try hard not to repeat anything. But I hope very hard that you will give every single one of those above tips a shot. I correct myself . No, two shots, NO! three chances! and in actual practice!

Ok, bear with me till the very end, even if the following seems like the most ridiculous and boring of stuff. Because sometimes, those seemingly boring and small things are not at all what they seem, and are actually much much bigger in many ways, and important.

Focus not on what breaks a professional trader, but what makes one.

So first things first. If you have emotional concerns at all while trading, or even just trying to tackle an 'emotional' problem, consider that you are, perhaps, simply starting off on the wrong foot.

You are clearly right, with your present mindset, in attacking the emotional aspect right away, but isn't time you start with a clean slate, with a completely different perspective? Search for a different mindset? To stop repeating the same mistakes? To admit to yourself that, the way you are seeing things at this moment, is not working? And consider that it is for reasons you have not even realized? And to try very hard to consider the possibility that emotions should not even exist thanks to responsible trading practices? There might be something to realize here that might be a bigger step than one might think towards lifelong success.

So ask yourself the question, what if this perception and these emotions were simply part of a subconscious attack on the truth : that different, even harder work is needed? That 100% objective emotionless hard work is necessary. That those emotions and ideas of having to deal with them, hanging on to them with all your strength, as if they were an inherent part of trading, by keeping a real account but also by other auto-destructive ways hiding in plain sight, will disappear once you realize it.

So, what if all this was, therefore, in a way, just an illusion?

Money management is mainly what your problem is in that respect. If you traded responsibly, those emotions would have no reason to exist, and would be inexistent.

Fear of losing is an illusion, for it is part of trading. Without losses, no wins.

Try to see things differently is what I am saying. Trading and gambling are two different things. Emotions = gambling. At least consider it: open an account at Oanda for example, where you can trade as low as 1 unit, yes that's right, you could open trades with one dollar or even more depending on your location. Just right to put into practice any strategy or strategies, each with their own risk management, just with a few dollars.

If again you think of emotions needing to be worked on, do the work and go deeper : You will not last years to come if you are trading amounts that create any big emotions. Imagine that feeling of, no matter if you lose the current trade or not, no emotions. That is what a professional feels. And that is what you want to become right?

If you think you cannot make a living with such little returns, consider that you are wrong there also. After all your hard work, you will have what it takes to make a consistent and high enough average return/drawdown, to have no problem finding the funds necessary to make even 1% a month worth the effort. Rid yourself of the illusion. Stop focusing on $ and emotions, blinding you and stopping you from doing the real hard learning work : knowledge, skills, reflexes are to be developed.

If you have realized something new, now another thing not to worry about for now and that means that there are even more chances that you will make it.

I repeat. Focus not on what breaks a professional trader, but what makes one. Focus on adaptation to change in price dynamics, and using only dynamic measures, nothing fixed, nothing static, just like price. Focus on different money management approaches, on combining several different types of strategies: diversifying, simulating, learning, discovering, one pair at a time, becoming price.... focus on putting into practice what has been shared in previous posts, and what you yourself discover through all the research, and thrive.

Well, that is it for My added 2 cents, in the shadows of some even more important tips shared above, if you ask me !

Wishing you and all in similar situation the very best in your battles.

P.S back to the charts !

one of the steps to master trading quickly is focusing on trading one pair to avoid confusion....

ahh the trading discussion...
well... losing is not a problem.

in Vietnam, the average salary is $9k/year according to what I read on the web... I don't know your salary, but you should never ever lose more than what you can afford to lose.. that would be a huge problem.

This could be one simple approach to understanding what you need to do and getting you rejuvenated. Might be of help before you quit.

1. https://www.tradingsetupsreview.com/...rading-living/

2. (What it takes to become a Profitable Trader. Hardwork!!!)

3. (Day Trading: The Struggle is Real)

4. (TOP 10 Day Trading Mistakes YOU NEED TO KNOW!!!)

5. (Becoming a profitable trader)

6. (Understand and overcome your fears)

You cant stay the "same" and get results!

Rejuvenated??? NOW GET TO WORK BRO!

No two trader may have same trading system. You might have to bring something unique to the trading world.

Some useful links to having a good idea of developing trading strategies. You can do your own research to get lots of ideas and am sure you have been trading the markets for sometime now. If you weren't paying attention to market details, you should start now.

( No.1 Important Rule in Day trading)

https://www.tradingsetupsreview.com/...trategy-works/

https://www.tradingsetupsreview.com/...ction-trading/

https://www.tradingsetupsreview.com/...ng-strategies/

https://forexwot.com/category/trading-system

NB: Indicators are mere confirmation tools. You understand Price Action, indicators will make more sense to you when you apply them to your trading.

Some more Oliver Velez videos if you interested in listening to keep you motivated rather than give up.

https://www.youtube.com/playlist?lis...iUTRRQXFm_U9tB

40yrs veteran in the trading business. There are many more "gurus" (e.g. Adam Khoo, Steve Nison etc) you can learn from and pick something new to form your own unique/formidable trader. Atleast in the next 18 months or more we could see a better "Keepmoving". All that depends on how much time, effort and hard work you have put in. The trading journey is like a puzzle. It takes trader, A,B,C or D different time/duration to get it right.

Best of Luck & KEEPMOVING!!!!

So to lose money first you need to spend a lot of hours watching bullshit on youtube? Is there another way to lose money?

I guess you started "hitting home runs" in forex trading right from the go???

You never started from somewhere and instantly you created a trading account and started becoming profitable... You may share with us how you started your forex journey. You may have started 25yrs ago and not seem to remember how you began trading. Maybe on the trading floor as there were no youtube, Tumblr apps then. Its all bullshit now.

The point of the youtube stuff seems to be "one of those life lesson things"... although yeah the youtube stuff above seems super campy, from a high level look at it.

But the basics are like how it works with MANY other things in life, at least it seems to me. As soon as you "attach" to them, they are gone:

1. Money (non FX trading)
2. Women (for men, seems to be the way this works also - as soon as you want them or possibly need them, they don't want you. As soon as you are about yourself, they get interested )
3. and FX trading money

But yeah, it really seems, at least to me, that whenever I need the money or need trading to work or whatever, it all fails. *Maybe because then is when I usually start taking stupid/non systematic risks? hmm...

But yeah, I really also noticed when I don't need it or other things in finance at all, that is when it works - stock trading and investment, etc. That is probably why the advice of have a job but do this on the side is always given? ha

dont sell in green candles, might be a priceless lesson for a good start?

MZ!

I guess back then there were no Youtube, Tumblr and maybe MT4. it was all on the trading floor and paper trading. Today, there are lots of information media where newbies can learn faster, get a good head start and start putting in lots of effort and practice. I really dont like it when "old folks" or persons with "over 20 yrs" experience come here to intimidate ppl..making antagonizing or sarcastic comments without adding value not even willing to assit/or give good advice. Not good! No offence though.

i really meant it. if you sell in a bull candle? you better have a quick release approach... plus, one can't re-enter like endlessly, unless using the price app 25% promotion, which is still quite dangerous, as this requires very-serious-funding a.k.a. fat-account-funding. i have not seen such quick push/release trading style, on this forum or anywhere else online, yet.

Why not

A green candle is history, what will happen in the next 15 seconds from now may shape direction for the next three hours.
We need to be better than making trading judgements on colour of the skin.

I agree nowadays the Internet is the place to go to when learning a new thing like FX trading.

But I would suggest a new trader should first only self-study the charts and markets and get an idea, maybe some patterns he observes, or time of the day when he is free and confident to trade. Starting with minimal guidance is sometimes the best way to learn IMO.

I started 2 years ago without studying any materials about trading. In the past just buy/sell currencies for travel, sometimes buy currencies based on major psychological levels (where it would be on news). In the first 3 months I only self-study the charts, try to identify probable patterns.
I was using a broker's platform so no access to the communities like Trading View or FF.
When look back I was almost purely price action and time-specific analysis. The strategies were very uncommon approaches.

Then in Jun2020 I opened my first live account and traded my strategies. It was then I started to explore Algo, because the rules are defined but I didn't have time to catch all setups. So I learned TradingView PineScript and MQL5. It was when I started understanding the power of auto trading / alert systems.

Then I joined FF in late 2020 and also started watching YouTube for trading. It was then the time I finally started learning the "mainstream" FX analysis. I think the advantage I had was I already had a pretty clear understanding of my style and approach to trading, so it is easier for me to extract the useful information from the media with mostly noise.

I have some thoughts for new traders and those who consider giving up.

0) Start with a clean chart and a clear mind, (for people who already trading) Don't put in your existing bias or strategies. Observe the chart, note down your thoughts, criteria of trading, etc. Then start develop a strategy around those key words.

1) Only use demo to practice executions. Once you know how to execute trades, go to live account with amount you care but not affecting your finance (significant to your psychology, like $1k up. For me is $25k each strategy)

2) Set the first goal to NOT TO LOSE MONEY. Just keep not losing $1 in the $1k account. Don't measure how much you profit. FOCUS ON RISK MANAGEMENT.

3) Set a cut-loss for a strategy, say 10% of account. If exceed, stop trading the live account, go back to backtest. Start clean with a chart from 0)

* Combine these points, You will be worried when trading, but your goal will protect you from blowing your account, probably not even losing 50% of it (Like my example I at most lose $2.5k, not the whole $25k). Good to train your psy and FOMO, also to trade sustainably with realistic MM.

Just don't get the Internet drives your trading journey. You make your own path. Good luck

You have access to the internet to source lots of information for free!

..and as for me none is independent of the other (Education & Practice). You speed up your learning curve as you practice and educate yourself.

The fact is that ppl are just lazy and want instant success. Ive seen where someone says he doesn't have the time to do technical analysis but he wants to hit green pips instantly. You want signals and lots of written posts in order to make a decision on a trade. When by looking at a chart you can get the picture.

Forexfactory forums can be a source of learning & improving one's ability and at the same time distraction, in some cases toxic. At first I joined FF I had thought profiles with red bands are professional traders already until i realized that wasn't the case.

Either way you'll have to pay the price by giving to a mentor, market or to scammers.!...if you must trade.