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What helped you the most to be profitable?

  • #81
  • Sep 28, 2012 2:43am Sep 28, 2012 2:43am
so what leverage are you using and why should you check this only 3 times per day [any particular reason]
  • #82
  • Sep 28, 2012 4:21am Sep 28, 2012 4:21am
No, I check this only every third day, because is system on daily timeframe. Leverage is optimal 1:100. Money management, indicators values , SL and TP are picked by you. Then you change for example SL your balance is changing every second, because this platform dont need time like MT4 tester and dont need expert advisor. Simply you generate trading system which has worked best last month and go scalp on TF M1...
  • #83
  • Sep 28, 2012 4:49am Sep 28, 2012 4:49am
Quoting Davit
What turned you a better trader and profitable?Turning points?
Detachment.
  • #84
  • Sep 28, 2012 4:50am Sep 28, 2012 4:50am
Quoting vaidas7777
Well I saw the light only this month, then I found free platform forex strategy builder. Then I constructed my system on indicators, for different timeframes they are different. For example in pic below I found daily strategy, you need to look at her once about three days. Also I made strategy for M1, it's also works... But you need to test strategy every month, look is that strategy works or not.

that looks very healthy!!
  • #85
  • Sep 28, 2012 12:44pm Sep 28, 2012 12:44pm
Hello guys,

here is what helped me the most: Sticking to money management rules. I only risk 1% of my capital that I have in my account. I determine the trade risk (stopploss - entry) beforehand and then I calculate how much trade size is: Account Risk / Stoploss Entry = X$ Per Point -> That`s my trade size. Knowing these numbers beforehand really got me a long way down. Of course the most challenging part is to stick with these ratios.

Cheers
  • #86
  • Sep 28, 2012 5:13pm Sep 28, 2012 5:13pm
Quoting vaidas7777
No, I check this only every third day, because is system on daily timeframe. Leverage is optimal 1:100. Money management, indicators values , SL and TP are picked by you. Then you change for example SL your balance is changing every second, because this platform dont need time like MT4 tester and dont need expert advisor. Simply you generate trading system which has worked best last month and go scalp on TF M1...
Now that reply does explain it out a bit, thanks for the info. And yes, do post more updates..
  • #87
  • Sep 29, 2012 5:07am Sep 29, 2012 5:07am
There is some great stuff here that can help most traders become profitable:
http://www.cmegroup.com/education/in...arted-pdf.html

The most important advice I have ever received in relation to trading is very simple - but it made a huge difference to me:

"Make sure you get paid"

Like most other aspiring traders I would try to build my account to astronomical levels by compounding the profits and constantly increasing the number of contracts traded. The problem for me was that as long as my P/L was just a number on a piece of paper I would simply trade my live account the same way I would trade a sim account. After a period of being disciplined and profitable I would start to do some crazy stuff ... not following my plan, over trade, test new ideas with live money etc.
Once I started paying myself on a regular basis the money became real ... I was suddenly rewarded for staying disciplined and trading according to my plan. My advice to anyone who are having problems with staying disciplined would be: Make sure to pay yourself on a regular basis even if it is only a small amount.
  • #88
  • Oct 4, 2012 1:49am Oct 4, 2012 1:49am
Hi everybody. Thanks Fido for information. I've looked through with interesting. And what you can say about your real experience. What helps to you?
  • #89
  • Oct 4, 2012 7:03pm Oct 4, 2012 7:03pm
never chase trend, unless your indicator said so. keep the stop loss min.
  • #90
  • Oct 5, 2012 8:27am Oct 5, 2012 8:27am
I started winning when I stopped thinking.
Trade what you see not what you think.
The market is always right, let it dictate to you.
Not the other way round.
Sincere and humble thanks, If.
  • #91
  • Oct 5, 2012 8:34am Oct 5, 2012 8:34am
Quoting TheNatural
Hello guys,

here is what helped me the most: Sticking to money management rules. I only risk 1% of my capital that I have in my account. I determine the trade risk (stopploss - entry) beforehand and then I calculate how much trade size is: Account Risk / Stoploss Entry = X$ Per Point -> That`s my trade size. Knowing these numbers beforehand really got me a long way down. Of course the most challenging part is to stick with these ratios.

Cheers
Bump.
Do this and you will make $.
Money management, easiest thing to teach, hardest thing to learn.
Sincere and humble thanks, If.
  • #92
  • Oct 6, 2012 6:41pm Oct 6, 2012 6:41pm
Quoting Davit
What turned you a better trader and profitable?Turning points?
A margin call. Lesson learned a hard way.
  • #93
  • Edited 7:02pm Oct 6, 2012 6:49pm | Edited 7:02pm
Not being stupid! Lol. The moment I get full of myself, I pay for it. The market will humble your ass like you won’t believe.
Fuck Forex Factory.Wake up people.
  • #94
  • Edited 6:02am Oct 7, 2012 5:00am | Edited 6:02am
i sold my soul to you

Now all i have is my sick little mind trapped in this-gorgeous athletic body
With a good book and quality paper you can fine wipe your ass.
  • #95
  • Oct 7, 2012 9:02am Oct 7, 2012 9:02am
Quoting TheNatural
Hello guys,

here is what helped me the most: Sticking to money management rules. I only risk 1% of my capital that I have in my account. I determine the trade risk (stopploss - entry) beforehand and then I calculate how much trade size is: Account Risk / Stoploss Entry = X$ Per Point -> That`s my trade size. Knowing these numbers beforehand really got me a long way down. Of course the most challenging part is to stick with these ratios.

Cheers
So say I have £500 in my account, to apply your formula I would:

£500 x 1% = £5.00

Say the difference between the stoploss and entry point is 20 pips, so £5.00 / 20 = 0.25. So that's £2.50 per pip?

Correct me if i'm wrong.
  • #96
  • Oct 7, 2012 1:56pm Oct 7, 2012 1:56pm
Quoting ioke89
Say the difference between the stoploss and entry point is 20 pips, so £5.00 / 20 = 0.25. So that's £2.50 per pip?
£2.50 x 20 != £5.00. Isn't it obvious? You should have £0.25 per pip.
  • #97
  • Oct 7, 2012 7:03pm Oct 7, 2012 7:03pm
Quoting ioke89
So say I have £500 in my account, to apply your formula I would:

£500 x 1% = £5.00

Say the difference between the stoploss and entry point is 20 pips, so £5.00 / 20 = 0.25. So that's £2.50 per pip?

Correct me if i'm wrong.
This post may be helpful to you. There's also a lot of good material in babypips school.
  • #98
  • Oct 8, 2012 1:56am Oct 8, 2012 1:56am
Pain
FF journal: Peaks and Troffs
  • #99
  • Oct 14, 2012 2:06pm Oct 14, 2012 2:06pm
I think this forum help me most in improving my trading skill. At the beginning, I was not so serious about fundamental analysis. But now I am join in this forum and always keep eyes on economic calendar of this forum. I also participate in discussion of currency pairs . Here I get some suggestion from seniors post.So I am very thankful to Forex Factory.
  • #100
  • Apr 9, 2015 5:41am Apr 9, 2015 5:41am
The thing that really helped me get on profit on this hostile market was the proper risk management.
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