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How many people are actually making money rather than losing?

  • #101
  • Sep 30, 2013 4:49pm Sep 30, 2013 4:49pm
Quoting seaman2
{quote} You are right. What I adopted recently is 100% trade with plan. That means one has to have a clear plan for all stages & scenarios of trade and follow it. What I also found out is that not having 100% worked out plan, makes me trade impulsively and substandard decisions are made.
Knowing is half the battle. Implementing change is the other half.
You're gonna be just fine.
Those who say it cannot be done should not interrupt those who are doing it
  • #102
  • Sep 30, 2013 7:28pm Sep 30, 2013 7:28pm
Quoting PipTrapper
{quote} I don't know why you do it, but generally when a trader is in front of the charts he/she wants to be productive instead of starting at candles. Therefore, instead of waiting for a real good setup to come along, the trader starts mindfecking him/her self about how it's now or never "coz if I don't jump on the train now, I'm gonna miss it". That's a very common psych issue with traders. So what's the solution? Simple. Develop a very strict trading plan with set rules. If all the rules are not met, tie your hands to the arm of your chair....
my trading plan is simple...by lo n' sell hi n' visa verso...now comes the tricky part where to enter....in order to do this one has to learn how to trade slow markets and how to trade fast markets...
  • #103
  • Sep 30, 2013 8:21pm Sep 30, 2013 8:21pm
Quoting PipTrapper
{quote} It's all about RR ratios. If you're looking for a 20 to 30 pip move against a 3 pip risk, then that gives you a 7:1 to 10:1 ratio. If you have the skillset to identify pivots right to the pip (in much less volatile trading), then it's quite doable. Of course for me this is all theoretical coz I'm too much of a chicken for that kind of trading
At least you're honest about it.
  • #104
  • Sep 30, 2013 8:48pm Sep 30, 2013 8:48pm
Quoting Kanzler
{quote} At least you're honest about it.
the market never lies ...
  • #105
  • Oct 1, 2013 12:45am Oct 1, 2013 12:45am
Nice pics and the thread sure got entertaining..and not to be pedantic but alexander did not leave anything at the Library of Alexandria, it was started by Ptolemy the first..after Alexander died, the generals carved up the empire into nice little pieces..
  • #106
  • Oct 1, 2013 11:37am Oct 1, 2013 11:37am
i go up 10 bucks then down 10 bucks. lol. its like my life at the blackjack table with 1 hand of chips left.
I started with 50. went to 60 went to 50 then to 40 then im back at 45. not trading on any kind of system. really using that 50 to learn what i can because nothing will make you learn/research and try to make educated decisions like having your own money on the line. Even though 50 bucks is relatively small. i try to make 8 dollars a day. 8 bucks day is like a dollar an hour raise at my job (which i work at while i trade lol).
im 50:1 because well. its very little money.
i seem to be having great luck closing .20-.30 cent trades but then get killed on a 2-3 dollar loss that i had the Stop loss set to far for fluct.

i have .85 profit after about 85 trades. i have no idea where this puts me. i really am just watching chart flow.. which is probably terrible.
  • #107
  • Oct 1, 2013 12:12pm Oct 1, 2013 12:12pm
Quoting nbwilson23
i go up 10 bucks then down 10 bucks. lol. its like my life at the blackjack table with 1 hand of chips left. I started with 50. went to 60 went to 50 then to 40 then im back at 45. not trading on any kind of system. really using that 50 to learn what i can because nothing will make you learn/research and try to make educated decisions like having your own money on the line. Even though 50 bucks is relatively small. i try to make 8 dollars a day. 8 bucks day is like a dollar an hour raise at my job (which i work at while i trade lol). im 50:1 because...
Because you don't have a trading system and are just trading off a chart, your trading is going to follow the random PA movements of the chart so your trading results is going to be EXACTLY like in gambling, up and down in a random fashion. Unless you are fine with this gambling-style trading, you need to go to demo mode and work out a system and then trade that system. Otherwise, just like with gambling, you are NOT going to make any money. TRUST ME!! Since you are only risking relatively small amount of money, as long as you stay at the same amount and not risking larger amount, you won't lose big BUT you won't make any money either. So the choice is yours.
Make your losses in demo. Earn your profits live.
  • #108
  • Oct 1, 2013 12:15pm Oct 1, 2013 12:15pm
Quoting TraderPablo
{quote} the market never lies ...
Well actually it does. It's just that you and I don't have enough capital to find that out and catch them in its act. All we get is being slaughtered.
Make your losses in demo. Earn your profits live.
  • #109
  • Oct 1, 2013 12:19pm Oct 1, 2013 12:19pm
i understand that the demo is definately the way to move.. however at the moment that 50 was "lost" to me the second i transferred it. so i dont mind "demoing" with it. But yes. i am a "gambler" in a lot of things. but i feel like i am learning quite a lot at a decent pace because my money is on the line. the motivation stays there the whole time. 3 dollar profit trade feels like a 100 dollar pot in poker to me..
what different systems are there that i can implement? one of the most difficult issues i have it my work computer is not compatible with java. so my oanda fxtrader wont launch. so im stuck looking online for interactive graphs with good toolbars, and then translating that to trading via mobile. (which blows). im prolly 75% more profitable at home. but the markets arent active then and id really like to take advantage of the 8-12 trades.
  • #110
  • Edited 2:11pm Oct 1, 2013 12:32pm | Edited 2:11pm
Quoting nbwilson23
i understand that the demo is definately the way to move.. however at the moment that 50 was "lost" to me the second i transferred it. so i dont mind "demoing" with it. But yes. i am a "gambler" in a lot of things. but i feel like i am learning quite a lot at a decent pace because my money is on the line. the motivation stays there the whole time. 3 dollar profit trade feels like a 100 dollar pot in poker to me.. what different systems are there that i can implement? one of the most difficult issues i have it my work computer is not compatible...
Ok I see. So as long as you realize that you are still demoing by risking just a small amount of capital, and you will eventually trade with a system and not staying trading by watching charts, then it's fine. I just wanted to share what I know about trading without a system.

As for Oanda, they offer MT4 charting now and it is available to live trading. All you have to do is open up a MT4 trading account and it's exactly the same as the one for Java, no extra fees or anything. MT4 is better than their Java one, I find and it might be compatible with your work computer.

Good luck!
Make your losses in demo. Earn your profits live.
  • #111
  • Oct 1, 2013 12:35pm Oct 1, 2013 12:35pm
i will probably download the MT4 when i get home. but. cannot download external programs on the work computers. only allowed to run from web apps.
  • #112
  • Oct 1, 2013 2:35pm Oct 1, 2013 2:35pm
i also just set up the macd on my phone graph.. the trade feels a lot more... readable. having a tell for entry and exit..
  • #113
  • Oct 4, 2013 3:35am Oct 4, 2013 3:35am
Hey Guys, I'm new here but have been trading for a few years.
Lost a lot of money trying to find out how to trade successfully with real money, not demo accounts because I needed the gut feel, the fear of losing, to understand the system. After awhile I became more confident and hence more successful with trading.
So be careful but you can make money trading if you approach it carefully, good luck to all.
On a Wing and a Prayer.
  • #114
  • Oct 4, 2013 9:03pm Oct 4, 2013 9:03pm
Quoting nbwilson23
i also just set up the macd on my phone graph.. the trade feels a lot more... readable. having a tell for entry and exit..
Agreed. MACD is a really useful indicator.
Make your losses in demo. Earn your profits live.
  • #115
  • Oct 6, 2013 2:56am Oct 6, 2013 2:56am
Quoting jen101
{quote} Was that live or demo? You shouldn't even attempt live until you can prove to be profitable on demo. Then start small. There's no need to lose money. I've never lost real money and yes I have traded live, though currently fine tuning on demo. There's no rush. Go back to learning, then keep practising.
Demo should be joined first in trading so that trading becomes easy for the trader and we will be able to trade in real account properly. Demo account is very important and helps the trader to increase their trading knowledge and experience.
  • #116
  • Oct 14, 2013 4:55pm Oct 14, 2013 4:55pm
I'm finally making consistent profits after years of searching for "the system". The funny thing is it feels stress free now. Make a few percent each month and compound. Money management is key for me. My trade explorer only shows 18% profit because I've recently added more funds to the acc. Feel free to ask my opinion for what it's worth.
  • #117
  • Oct 24, 2013 7:49am Oct 24, 2013 7:49am
Quoting TraderPablo
{quote} the market never lies ...
We have to respect the Forex market so it is necessary we have to trade with proper trading plans and strategies to win big from the market instead of lossing so trading requires proper planning and strategies which should be followed with proper discipline.
  • #118
  • Last Post: Aug 31, 2020 7:00am Aug 31, 2020 7:00am
Loss is a common thing in the forex market. Many people loss their money in this risky market every day. If you can properly deal with the losses you can become successful in this market.
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