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Still losing

  • #41
  • Dec 18, 2012 12:41pm Dec 18, 2012 12:41pm
Quoting Kanzler
Are you consistently profitable?



Depends completely on the setup. What's your point?
Methinks price in relation to the P/L is more important than any strategy (or setup)
  • #42
  • Dec 19, 2012 12:59pm Dec 19, 2012 12:59pm
Quoting Mingary
Methinks price in relation to the P/L is more important than any strategy (or setup)
True but there are a few strategies that may seem like a total wipe out only to turn into profit for the trader later on.BTW, did enjoy some of your posts!
  • #43
  • Dec 19, 2012 2:42pm Dec 19, 2012 2:42pm
Hi, Kanzler,

You have the right idea with your thread.

I have been trading for over 20 years part time and profitable. I am a conservative trader, interested in steady returns and not erratic equity curves.

nitetrader








Quoting Kanzler
Are you consistently profitable?



Depends completely on the setup. What's your point?
  • #44
  • Dec 19, 2012 3:44pm Dec 19, 2012 3:44pm
Quoting Cheezy
I would like trade only EURUSD, for me its good smaller Timeframe,
maybe 5min, i want be in trade only few minutes.
I personally think you would geet on better trading on the bigger time frames, 1 hour charts or bigger.

Trade on closed candles only and focus on support/resis
  • #45
  • Dec 19, 2012 3:46pm Dec 19, 2012 3:46pm
Quoting nitetrader
Cheezy,

The answer is plain and simple. At the moment, you do not understand price. This is the key to trading, most traders have been there at some point, some are still there. Ditch the indicators and watch the price.

Nitetrader
I totally agree with this.
I use no indicators at all and trade solely on the price action (support/resis) and I do well.

I tried all the indcator systems, and failed epicly with them.

Felt like too much noise for me.
  • #46
  • Dec 25, 2012 2:55pm Dec 25, 2012 2:55pm
Quoting Cheezy
I am bad trader, no strategy. I want trade only EURUSD.
Not that you will learn anything but you might look at this.......... EUR/USD MA system

OR THIS ONE.... basically the same system really.

Not really sure why I post this since I doubt you will ever really get the hang of trading unless you change your mindset.
Anyway .... wish you luck.
  • #47
  • Dec 25, 2012 5:31pm Dec 25, 2012 5:31pm
mate, I´ve just seen this thread - pls. do yourself a favour and play around with a demo-account first. Find your own strategy and your own way of trading. Many posts recommended to use higher timeframes and lower lots - I just can underline this.

A combination of playing around on short timeframes and not being expierence to a certain degree might burn your account quite soon. You have many good sources on forexfactory - use them - but at the end of the day stick to your own strategy and plan. Cause without a plan your trading career will be full with a lot of frustration.

wish you luck, enjoy some days and start with a plan next year.
All the best.
Get rich or die tryin!
  • #48
  • Dec 25, 2012 5:41pm Dec 25, 2012 5:41pm
pls. have a look at this thread and this fantastic e-book. I would highly recommend to read this - and it´s free of charge.

http://www.forexfactory.com/showthread.php?t=380676

cheers!
Get rich or die tryin!
  • #49
  • Dec 25, 2012 6:46pm Dec 25, 2012 6:46pm
Quoting Cheezy
Hi all. I am still loosing, I'm so sad. Can anyone help me?
I would like trade EURUSD and GBPUSD.

Skype: Cheezy_cz
If you're in my city, I can coach you and we'll meet once a week. The catch? Buy me a scotch and hot wings.

On a serious note, are you sad because your trades are losing or because you're losing money?

If you're sad because your trades are losers, stop trading now until the new year and analyse why your trades are losers so far.
If you're sad because you're losing money, trade the smallest lot size possible and increase it accordingly once you recovered your loses.
Fear prevent possibilities, and so does Greed
  • #50
  • Dec 25, 2012 9:57pm Dec 25, 2012 9:57pm
Quoting Cheezy
Hi all. I am still loosing, I'm so sad. Can anyone help me?
Why are you so sad? Do you have a system?
  • #51
  • Dec 26, 2012 7:02am Dec 26, 2012 7:02am
Tradestar, I have suggested a similar approach.

I agree with you only a change of mindset will result in any progress.

Nitetrader

Quoting tradestar1
Not that you will learn anything but you might look at this.......... EUR/USD MA system

OR THIS ONE.... basically the same system really.

Not really sure why I post this since I doubt you will ever really get the hang of trading unless you change your mindset.
Anyway .... wish you luck.
  • #52
  • Dec 26, 2012 12:19pm Dec 26, 2012 12:19pm
Mindset isn't as big a part of the equation as some people make it out to be; if you have a crappy system that has negative expectancy, or you don't know what that expectancy is, you're bound to be mentally weak while trading it as doubts abound. A system should be tested for its expectancy. After you find that it is positive and are still losing, then you can look at what else might be affecting your trading.
  • #53
  • Dec 26, 2012 1:53pm Dec 26, 2012 1:53pm
Cheezy,

I understand the "still losing" situation - I was that situation until quite recently (until I woke up and smelled the roses!) so I know what I'm talking about.

I going to help you with some real advice:

You have 2 choices if you really want to be successful over the long term. Note that I say "over the long term" because the way to make money in this game is slow accumulation of profits. The moment you over-leverage to make up for one or even a series of losses you will empty your account - that's guaranteed. It's simply a case of try to win more pips then you lose.

Firstly, you can have the best system in the world but if simply try to trade trade price action using MA's or some other indi you are going to get stopped out or stop out your trade manually because the market is basically designed to kill anyone with a nervous system.

So you can go two ways. One is something like this: http://www.forexfactory.com/showthread.php?t=401818

Or, the very best way is to automate your trading - get a good EA (or EA's) and TRUST them to increase your balance steadily and surely: http://www.forexfactory.com/showthre...76#post6321176 (post 44)

Happy Trading.

Rgds

Jerry
  • #54
  • Dec 26, 2012 2:44pm Dec 26, 2012 2:44pm
Quoting jmtini
Cheezy,

I understand the "still losing" situation - I was that situation until quite recently (until I woke up and smelled the roses!) so I know what I'm talking about.

I going to help you with some real advice:

You have 2 choices if you really want to be successful over the long term. Note that I say "over the long term" because the way to make money in this game is slow accumulation of profits. The moment you over-leverage to make up for one or even a series of losses you will empty your account - that's guaranteed. It's simply...
OP in that thread hasn't even explained what he's doing other than creating extraordinarily lopsided risk. I'm not sure how that would help this person other than get them in serious trouble. Instead I would suggest gauging your risk on something concrete that tells you your setup is invalid - fixed pip stops aren't always appropriate.
  • #55
  • Dec 27, 2012 5:24am Dec 27, 2012 5:24am
No updates yet? Why am I thinking that this is not a real thread..for some reason the poster seems to show a reluctance to return to the thread, never mind..
Weird though, the 1'st post, the trades..etc.
  • #56
  • Dec 27, 2012 10:24am Dec 27, 2012 10:24am
Quoting Forexnuts
No updates yet? Why am I thinking that this is not a real thread..for some reason the poster seems to show a reluctance to return to the thread, never mind..
Weird though, the 1'st post, the trades..etc.
It seems strange. The OP said he was sad.
  • #57
  • Dec 27, 2012 3:19pm Dec 27, 2012 3:19pm
Quoting Kanzler
OP in that thread hasn't even explained what he's doing other than creating extraordinarily lopsided risk. I'm not sure how that would help this person other than get them in serious trouble. Instead I would suggest gauging your risk on something concrete that tells you your setup is invalid - fixed pip stops aren't always appropriate.
I am not endorsing his system only his idea which seems to be working if you checked out his trading statement.


Sorry I forgot to mention another good idea which is "trade copying". I have not tried out the idea but it makes sense to let someone who really knows what he's doing make the decisions for you!
Two possibilities: www.fxjunction.com or www.hqforexsignals.com

They both allow you to check out trading histories and offer software which you simply install on your MT4 platform and that's it!


Rgds

Jerry
  • #58
  • Dec 27, 2012 8:24pm Dec 27, 2012 8:24pm
Quoting jmtini
I am not endorsing his system only his idea which seems to be working if you checked out his trading statement.


Sorry I forgot to mention another good idea which is "trade copying". I have not tried out the idea but it makes sense to let someone who really knows what he's doing make the decisions for you!
Two possibilities: www.fxjunction.com or www.hqforexsignals.com

They both allow you to check out trading histories and offer software which you simply install on your MT4 platform and that's it!


Rgds

Jerry...
On the OP, well it is a sad, sad world and life ain't fair - so deal with it.
Moving on, copytrading is actually a good idea esp if you are on a losing streak ..of course you would still need to do the grunt work, research the DD's on all the traders there, select the top ones and move on.
  • #59
  • Dec 29, 2012 4:24am Dec 29, 2012 4:24am
Hi,

don't give up, keep practicing with demo acct.

if one strategy doesn't work 4 u then try a different strategy

Various traders have posted their winning formula in this forum. Do take a look and try them out in demo acct.

http://www.forexfactory.com/forumdisplay.php?f=71

hopefully you will find one strategy that works for you.

Good luck friend.
  • #60
  • Dec 29, 2012 2:06pm Dec 29, 2012 2:06pm
Quoting Forexnuts
On the OP, well it is a sad, sad world and life ain't fair - so deal with it.
Moving on, copytrading is actually a good idea esp if you are on a losing streak ..of course you would still need to do the grunt work, research the DD's on all the traders there, select the top ones and move on.

Deal with what?

As I said, I'm not endorsing any strategy. I have my own which I'm very happy with, thank you (anyone is welcome to read my thread: http://www.forexfactory.com/showthread.php?t=399410 )

But I do believe that many new traders (through fear) set completely unrealistic stop losses. They get stopped out time and time again whilst usually (80 % of the time) making the right directional choice. A 100 pip SL is definitely OTT but the principle of giving your trade enough room to breath whilst maybe being happy with 10 pips a day is quite sound.

Rgds

Jerry
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