Are you a consistently profitable trader? | Page 28 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Anyone consistently profitable using Expert Advisors? 45 replies

How to be consistently profitable... but I bet you won't do it 65 replies

How long did it take to become consistently profitable? 117 replies

Your consistently profitable trading style 37 replies

Consistently Profitable Signal Journal: Simple, Low Maintenance Gains 0 replies

Attachments: Are you a consistently profitable trader?
Exit Attachments

Are you a consistently profitable trader?

  • #541
  • Aug 8, 2012 9:15am Aug 8, 2012 9:15am
Big time loser here, you do not want to know I learned the hard way about closing out massive losses.

At least it taught me about money management.
  • #542
  • Aug 10, 2012 9:57am Aug 10, 2012 9:57am
this two weeks i end with profit.two more weeks to reach a profitable month
  • #543
  • Edited 4:05pm Aug 11, 2012 3:54pm | Edited 4:05pm
Hello all,

Lots of interesting discussions here...

Been travelling a bit. Here are some thoughts:

When I trade in the following way, I find it easiest to be consistently profitable:

1. Be sure I have had adequate rest.

2. When I come to my trading desk, I update my charts with no specific bias in mind.

3. After that objective update, I look at what the charts are telling me.

4. When I see the overall "location" of where the market is and where it may be trying to go, then I look and wait for an entry in that direction per my trading edge or method.

5. Once I'm in, I do nothing to change it unless price reaches a level that invalidates the premise of my method/entry.

6. I use a position size that is emotionally comfortable and increase it when I see the market performing in my favour. Not easy to hold up a 200 lb bar for too long unless you've got some back up.

Whenever I think for the market and trade according to that I get into trouble, then I have to spend time and expend mental and emotional energy to cover any losses to my equity.

Remember, the market's gonna go where it's gonna go unless something happens to change it, and, before it goes there, it usually wants to have some extra pips in its favour before going there .

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #544
  • Aug 11, 2012 4:01pm Aug 11, 2012 4:01pm
Quoting harisince198
this two weeks i end with profit.two more weeks to reach a profitable month
Keep going .

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #545
  • Aug 11, 2012 4:05pm Aug 11, 2012 4:05pm
Let say you're a successful and profitable trader...(profit is sumthing subjective at the moment)let say it depends on the market....sum day you're good and sum day you're bad!


1.When was the last time you deposit equity in your trading account?A year....6 months?


2. When was you last 'margin cal'.....obviously every trader would have their own sweet moment of 'margin call'.....


3.How long after your last deposit and your last margin that you've realized that you can trade....and profitable?
  • #546
  • Edited Aug 12, 2012 11:32am Aug 11, 2012 4:14pm | Edited Aug 12, 2012 11:32am
Quoting Mr.Elliott
Let say you're a successful and profitable trader...(profit is sumthing subjective at the moment)let say it depends on the market....sum day you're good and sum day you're bad!


1.When was the last time you deposit equity in your trading account?A year....6 months?


2. When was you last 'margin cal'.....obviously every trader would have their own sweet moment of 'margin call'.....


3.How long after your last deposit and your last margin that you've realized that you can trade....and profitable?
Hi Mr. Elliott,

Others may reply, but...

1. Earlier this year I added some funds to my account.

2. The last margin call, which was the most painful, was about a year ago. 2011 was hectic and brutal for me in many ways.

3. It was not after my last deposit or my last "margin call" that I realized that I could trade...I had been profitable before, just got hit by some stuff...one thing after another.

I think it took me about 2 1/2 to 3 years to "know" that I had "it" (my trading approach) down (as I put my trading approach together one brick at a time...lots of screen time observing the market). Then it took another year or so to trust myself with my trading and be confident in what I was seeing and doing. Then it took another year not to care about what others thought of how I do what I do. What I was not ready for after that 2 1/2 to 3 year period was the effects emotions can have on one's trading. That's when my last margin call hit about a year ago. After that, things have been easy...again.

When you know you've got something, you've got to get free from the opinions of others (whether they express them or not)...and, if you miss it here and there, oh well...it's no biggie...just keep on keepin' on. Sending signals helped me to develop that kind of emotional-mental muscle.

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #547
  • Aug 11, 2012 4:22pm Aug 11, 2012 4:22pm
Quoting FX4Newbies
Hi Mr. Elliott,

Others may reply, but...

1. Earlier this year I added some funds to my account.

2. The last margin call, which was the most painful, was about a year ago. 2011 was brutal for me in many ways.

3. It was not after my last deposit or my last "margin call" that I realized that I could trade...I had been consistently profitable before, just got hit my some stuff...one thing after the other.

I think it took me about 2 1/2 to 3 years to "know" that I had "it" down. Then it took another year or so to be confident in what I...
thanks....i have trade for about 40 months, well that about 3 year ++.my last deposit and margin call is about 1 year +...somewhere around that period.so i guess all trader would be felling the same after all that workout for the freaking 3 years. as i would estimate that i would need a year (or less) to feel all the confident that's all....well nothing to blame about the confident losing for what the market had done to most of us.
  • #548
  • Aug 11, 2012 4:27pm Aug 11, 2012 4:27pm
Quoting Mr.Elliott
thanks....i have trade for about 40 months, well that about 3 year ++.my last deposit and margin call is about 1 year +...somewhere around that period.so i guess all trader would be felling the same after all that workout for the freaking 3 years. as i would estimate that i would need a year (or less) to feel all the confident that's all....well nothing to blame about the confident losing for what the market had done to most of us.
When you actually internalize that confidence in yourself (without becoming overconfident) and in your system, if your method is sound, you should be fine.

Take care,

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #549
  • Edited 5:53pm Aug 11, 2012 5:08pm | Edited 5:53pm
Quoting Euroscum
Big time loser here, you do not want to know I learned the hard way about closing out massive losses.

At least it taught me about money management.
Sometimes we learn the most and the best lessons from our losses. The key is not to make the decision to quit during those times...some degree of success is usually just around those corners.

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #550
  • Aug 11, 2012 5:14pm Aug 11, 2012 5:14pm
Quoting Euroscum
Big time loser here, you do not want to know I learned the hard way about closing out massive losses.

At least it taught me about money management.
tell you honestly....nobody learn it the easy way....trust me!only the hard ways all the way bro!but it is worth it!make me a better person...know well about myself that i never knew before other than i'm a handsome person in my girl view!lol...
  • #551
  • Aug 11, 2012 5:19pm Aug 11, 2012 5:19pm
Quoting FX4Newbies
When you actually internalize that confidence in yourself (without becoming overconfident) and in your system, if your method is sound, you should be fine.

Take care,

FX4
thanks FX4newbie....that's what i'm afraid of...OVERCONFIDENT!after all the rigid and rocky wave of being a trader.....should my methods is cocky and useless....there should be a 'MARGIN CALL' and additional deposit in my equity to hold up the account.in controlling myself in what i fear!
  • #552
  • Aug 11, 2012 5:49pm Aug 11, 2012 5:49pm
Quoting Mr.Elliott
thanks FX4newbie....that's what i'm afraid of...OVERCONFIDENT!after all the rigid and rocky wave of being a trader.....should my methods is cocky and useless....there should be a 'MARGIN CALL' and additional deposit in my equity to hold up the account.in controlling myself in what i fear!
This might help.

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #553
  • Aug 13, 2012 10:04am Aug 13, 2012 10:04am
Quoting FX4Newbies
Somebody might take you up on it. That's £200 per month for maybe 5 years? £12,000.00 ? Most traders would rather give that to the market, get emotionally burned than pay a mentor or coach.

Just my 2 cents.

Anyway, thanks for sharing your trading wisdom on what it takes to become profitable.

FX4...
i bought into a system when i was a newbe,and ill never do it again! the guy i went with was setting people up to fail as he was also a brokerage,the penny dropped after i lost my money and i took a break. looking at the system now....i cant believe how risky it is....wish i could put that guy in jail. and the broker is going
  • #554
  • Aug 13, 2012 11:16am Aug 13, 2012 11:16am
Quoting nightvisions
i bought into a system when i was a newbe,and ill never do it again! the guy i went with was setting people up to fail as he was also a brokerage,the penny dropped after i lost my money and i took a break. looking at the system now....i cant believe how risky it is....wish i could put that guy in jail. and the broker is going
That's always a hard way to go Nightvisions. Some of these robots too that offer very high rates of return are very risky...like trading on the edge of a financial cliff.

That's the other hard part...most of these people "get away" for many reasons. It's a cruel world out there. It just takes wisdom and a very gracious nature to let those things go and move on. Life is still waiting on you to make good things happen.

Take care,

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #555
  • Aug 13, 2012 4:53pm Aug 13, 2012 4:53pm
Quoting FX4Newbies
That's always a hard way to go Nightvisions. Some of these robots too that offer very high rates of return are very risky...like trading on the edge of a financial cliff.

That's the other hard part...most of these people "get away" for many reasons. It's a cruel world out there. It just takes wisdom and a very gracious nature to let those things go and move on. Life is still waiting on you to make good things happen.

Take care,

FX4
yah its really tuff! especially with people like that out there,but that guy has lost my custom anyway even hes had a couple of thousand bucks out of me.hope he gose bankrupt and loses everything,im a firm believer in karma! anyway what dosent kill makes you stronger right! i joined this site today and wish i had of done ages ago,as we are all in the same boat,i dont feel such a lonley trader anymore..how are things going for you my friend?
  • #556
  • Aug 13, 2012 7:56pm Aug 13, 2012 7:56pm
Quoting nightvisions
yah its really tuff! especially with people like that out there,but that guy has lost my custom anyway even hes had a couple of thousand bucks out of me.hope he gose bankrupt and loses everything,im a firm believer in karma! anyway what dosent kill makes you stronger right! i joined this site today and wish i had of done ages ago,as we are all in the same boat,i dont feel such a lonley trader anymore..how are things going for you my friend?
Life has a way of repaying what one sows. It will come back to him one way or another. The negative experiences in life can be for our good, but it depends on how we handle them. Handle them right, and you'll come out stronger: better not bitter, right?

Glad you don't feel as lonely with the Forex Factory family. Still need to filter through the threads and posts here. I'm pressing on: always trying to move forward...have had my share of challenges for sure. Hope to get some rest tonight so I can be alert to trade tomorrow. We'll see how things go.

Take care,

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #557
  • Edited 4:35am Aug 20, 2012 3:51am | Edited 4:35am
Some consistently profitable wisdom (I hope ):

It is said that about 95% of traders lose (don't have any more details on how those stats were derived). However, the implication is that the brokers/dealers are making the money. If that is the case, then why not stand in the line with them and get paid? Learn how they do what they do and do that. If you try to take money from them/trade "against" them you'll probably lose since they have several strategies and advantages to take down every trading method out there.

Key: Understand how they get paid and then stand in line ready to go to the bank with them when they go . If you trade with them, you won't have to protect yourself from them. Like my father used to say, "If you can't beat them, join them." Buy when they buy and sell when they sell.

My 3 cents.

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #558
  • Aug 20, 2012 10:08am Aug 20, 2012 10:08am
when I start learning forex , i was an intraday trader.

that's make me very stressfull.

since i change my trading method and use more longer time frame, my trading is more easier and more consistent to get profit with a reasonable drapdown ,

I think the most problem in trader mind is about : "expectations".

some trader expect more than they effort, skill and knowledge, it's can make their lose their money.

especially :"quick rich scheme" expectations
  • #559
  • Edited 1:06pm Aug 20, 2012 10:40am | Edited 1:06pm
Quoting acangz
when I start learning forex , i was an intraday trader.

that's make me very stressfull.

since i change my trading method and use more longer time frame, my trading is more easier and more consistent to get profit with a reasonable drapdown ,

I think the most problem in trader mind is about : "expectations".

some trader expect more than they effort, skill and knowledge, it's can make their lose their money.

especially :"quick rich scheme" expectations
I have to agree with you Acangz...

I think the most problem in trader mind is about : "expectations".

some trader expect more than they effort, skill and knowledge, it's can make their lose their money.

Yes, and sometimes that is a hard thing for a trader to define: what to expect given their skill level; emotional make-up; account size/position size etc. I think those are some things a trader tends to discover as they go along.

Thanks for sharing those words of wisdom.

FX4
Trade what you see, not what you think or feel. Let the market come to you.
  • #560
  • Aug 21, 2012 6:51am Aug 21, 2012 6:51am
Do only what you know works...use whatever you have that gives the highest degree of probability of a favourable outcome: and do it over and over and over...

FX4
Trade what you see, not what you think or feel. Let the market come to you.
2 traders viewing now