I have been trading for a couple years and as of this point I'm still not profitable - I have no problem admitting that. Why? Because I refuse to quit until I conquer this profession. What does 'Conquering Forex' mean to me? Replacing my current salary at my corporate job with trading profits!
I have been around this forum for a long time but finally have decided to join since I would appreciate feedback from other members. I am a huge fan of James16, Forexcube (who I'm convinced is the best trader on this forum) and Raczekfx. They all trade very differently but all are profitable. What have I learned from these three 'super traders'? That there are MANY ways to profit from the market. Price Action (James16), Hedging (Forexcube) and Touch Trades (Raczekfx) all work.
I've learned over the years that scalping is simply a way to prolong the agony of growing an account. I had some success with the M1 chart, but quickly realized that if my target is 2 pips, and my spread is 1 pip, 33% - that's right - 33% of the pips I make are going straight to my broker - think about that.....
I trade eight pairs on the 15M, 30M and 1H charts - I don't look for a particular RR ratio - I just take what the market gives me because, frankly, no one really knows where the market is going. Just hop in a trade and manage it from there - I've sat on the sidelines WAY too many times. I'm starting to realize that if I don't get into a trade I'm only hurting myself. Why? Because if I get in a trade and it goes against me, then I've lost 1 or 2 percent - so what? But if I win, I can pound out 5 percent or more - the reward is bigger than the risk!
I will try and post every trade here for documentation, review and comments - hope you enjoy!
I have been around this forum for a long time but finally have decided to join since I would appreciate feedback from other members. I am a huge fan of James16, Forexcube (who I'm convinced is the best trader on this forum) and Raczekfx. They all trade very differently but all are profitable. What have I learned from these three 'super traders'? That there are MANY ways to profit from the market. Price Action (James16), Hedging (Forexcube) and Touch Trades (Raczekfx) all work.
I've learned over the years that scalping is simply a way to prolong the agony of growing an account. I had some success with the M1 chart, but quickly realized that if my target is 2 pips, and my spread is 1 pip, 33% - that's right - 33% of the pips I make are going straight to my broker - think about that.....
I trade eight pairs on the 15M, 30M and 1H charts - I don't look for a particular RR ratio - I just take what the market gives me because, frankly, no one really knows where the market is going. Just hop in a trade and manage it from there - I've sat on the sidelines WAY too many times. I'm starting to realize that if I don't get into a trade I'm only hurting myself. Why? Because if I get in a trade and it goes against me, then I've lost 1 or 2 percent - so what? But if I win, I can pound out 5 percent or more - the reward is bigger than the risk!
I will try and post every trade here for documentation, review and comments - hope you enjoy!
