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I've figured out why so many people lose money in Forex 661 replies

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Quoting medici
{quote} Sounds like you are in a good place What do you trade? Fx, indices, something else? For me it's all Nasdaq futures.
Hi Medici.
Mainly crude oil , and in forex GBP/JPY but have been looking at the us100 and 500, so I might try and incorporate this in 2025
kind regards
kev
A couple of worthwhile threads related to the original idea of this thread:

https://www.forexfactory.com/thread/...est-open-trade

https://www.forexfactory.com/thread/...igh-volatility
Quoting here2there
{quote} I will not risk more than 2% of my account per trade. I will use ATR for a stop loss, period 14, multiplied by 2. I will attempt to profit 2x my risk. Of course, my take profit target might change depending on market conditions. It could be smaller or greater.
Understood. Thanks for clarifying. I hope your trades go as you plan.
Well said,Top-Down analysis does the work
Quoting here2there
I have often failed as a trader. Why? Most retail traders lose 75% or more of the time, and I was no different. I failed because I made trades based on feelings instead of logic. I would think that prices couldn’t go any lower or higher and act on that belief. Instead of going with the trend, I tried to catch tops or bottoms. I even started to think Forex was a scam. But the truth is, Forex isn’t a scam—I was just trading like a fool. Think about this: if retail traders are wrong 75% of the time or more, following the crowd will likely lead to failure....
I've been there too But sticking to plan and using tools like sentiment analysis helped me trade. How do you handle emotions now?
Quoting Patrick09
{quote} I've been there too But sticking to plan and using tools like sentiment analysis helped me trade. How do you handle emotions now?
The higher the risk, the stronger the emotion. I risk little.
Learn from your mistakes and march on.
  • Post #67
  • Quote
  • Edited 2:24pm Jan 9, 2025 1:27pm | Edited 2:24pm
Quoting here2there
{quote} The higher the risk, the stronger the emotion. I risk little.
Risk little, make very little.

When one has an "edge", it is OK to risk more, as reward is much greater. Not an easy task, years of hard work, especially to triumph over emotions, but payoff is incredible.

What is an edge? It is easy, take 500 trades forward on demo or live with the small position without changing any ingredients in your trading plan. No changes to Entry, Trailing, SL, TP even by 1 pip.

If, after 500 trades you(the trader) are happy with performance(whatever happiness means to you) - you have an edge. Very tedious task, but without this, trader will be just a part of the 95% losing traders statistics.

I have done it, took 7 years, last 3 years I am very profitable and very happy.
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“Now, 2 patterns of market behavior happen on a regular basis:
1) the price breaks to new high's (or low's)
2) the price reverses from new high's (or low's)
They happen regardless of time frame.
They are phenomena that can be exploited without the fear if found out by others, that they might cease to exist.” - H. Rearden

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My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
Quoting TooSlow
{image} “Now, 2 patterns of market behavior happen on a regular basis: 1) the price breaks to new high's (or low's) 2) the price reverses from new high's (or low's) They happen regardless of time frame. They are phenomena that can be exploited without the fear if found out by others, that they might cease to exist.” - H. Rearden {image}
Shhhhhhhhhhhhhhhh.....keep it a secret.
Quoting pipsticks
Your reflection on your trading journey offers valuable insights into common pitfalls many retail traders face, and it's commendable that you've identified key areas for improvement. Here's a breakdown of your observations and some additional thoughts: Emotions Over Logic: Your acknowledgment that trading based on feelings rather than logic has been detrimental is spot-on. Emotional trading often leads to poor decision-making, like trying to predict market tops or bottoms, which is notoriously difficult. Understanding Market Trends: You correctly...
Hi Pipsticks
I want you to mentor me pls
Quoting driven18
{quote} Shhhhhhhhhhhhhhhh.....keep it a secret.
It's been out there long before I entered my first trade, Mate.

Cheers!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
"They happen regardless of time frame."

This is the lunchtime (12.30 ET) reversal in NQ this Wednesday on a 500 tick chart.
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Hey I have a question i just saw a big red candle in XAUSD at 00:30 AM Australian/ Sydney time can someone tell me whats the event at that time ?
Quoting ssbbmeb
Hey I have a question i just saw a big red candle in XAUSD at 00:30 AM Australian/ Sydney time can someone tell me whats the event at that time ?
Mate, your 1st post, so big assumption, just discovered trading?

WTF - Welcome To Forex, or maybe Gold but as a noob, you should stay away from that.

Spike was caused by news event, major USD news events, you need to click on the Calendar at top of page.

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In fact, explore all the offering of Forex Factory, WTFF

Tip: You can't be asking a question about every little thing or step of the way. Most of it has already been asked for sure, you just need to find it.

Good Luck
If you trade like me, you'll be homeless and broke within a week.
Texas-2-Step All Time Return: -1.0%
Quoting BWilliam
{quote} Buy at day open. How about that. Cheers
Blind deliberately misleading blind

you can't buy blindly at daily open based on such assumptions there are other factors to consider ,

is price at a discount, has a low been raided
is there a "true" market structural shift to go higher

lets not add to the woes of the unexperienced, if we do not plan to help them either, that is evil and wickedness.

Regards
Pip Catcher
  • Post #76
  • Quote
  • Last Post: Edited 6:09pm Jan 13, 2025 9:27am | Edited 6:09pm
Quoting pipcatcher2
{quote} Blind deliberately misleading blind you can't buy blindly at daily open based on such assumptions there are other factors to consider , is price at a discount, has a low been raided is there a "true" market structural shift to go higher lets not add to the woes of the unexperienced, if we do not plan to help them either, that is evil and wickedness. Regards Pip Catcher
When I made that post early Asia Monday market, price was at 1.65550. Day open price 1.65718 16 pips above market at that time.

Lowest price after that is 1.65416 12 hours later in US market. So a drawdown of 30pips from DO, 14 pips at time of post. Then market zoomed up to 1.66517 +86 pips versus price when post was made and +70pips versus day open called 13hours ahead of time.

I responded to driven18 post immediately after looking at my phone. Ask driven18 how fast I responded to his post? 10 minutes. This short response time makes the live call authentic with no lag. Either I know or don't.
Quoting driven18
So, sentiment for retail is Sell EurAud with 69% of the traders Selling, that means look only for Buy opportunities until the sentiment changes! The bigger the Sentiment(this one is close to 70%) the bigger position size can be open trading opposite side. I will not be able to, but it would of been interesting to keep track of this "Reverse Mentality" technique. {image}
I knew at that time there's limited downside and the target is 100pips north. Check your chart. Granted, either buy now(at the time I made the post) or buy on dips(which I knew was small). So you expect me to wait for the discount dip to make the call which we don't know when(few hours later) that's gonna take place? If I say buy now you ask me why so early in Asia market, right? It's the traders job to wait for discounted price, no?

The real reason why I made that live call post with no edit(people cast aspersion), as always, is to show AGAIN 100pips moved in front of your eyes yet you didn't see it coming in the future(13hours later). My message and I repeat a thousand times, TA and all the market structure knowledge on FF and YouTube, books are faulty and useless. Do I have to repeat about blindness? Hate me saying it, ok zipped up.

It's up to you whether my live market call is helpful or misleading. My post provoked you because you can't see this 100pips push north at the time of the post. It's not possible because the transactions for the day have not been executed yet. Perhaps you might want to use @Medici's hull 70 period indicator.

Cheers
Trade the value
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