"Know what you own, and know why you own it" — Peter Lynch
Help! What is the actual holy grail in forex? I'm tired of losing
- #44
- Oct 28, 2013 12:38pm Oct 28, 2013 12:38pm
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
{quote} I know..just that after some of the ..er posts, it was a relief to see one that was to the point and guess given the context and some of the earlier posts, was a but funny. But your point is correct,
- #49
- Oct 29, 2013 7:08am Oct 29, 2013 7:08am
You need more information seriously. 1. Indicator is good. No problem. The problem is your concept. Indicator is not a predictive tool but it help you to detect something. Example: You want detect trending 45 degree, BB band can be the suitable tool. If you have mastered the math, any indicator can be used for this purpose. And you even know what setting is the optimal. Some traders might use different type of indicator, but the objective is the same. The different is how beautiful it is to attract your eyes. 2. Start from a basic and simple method,...
no.2 I have started from basic and a lot of custom indicator. Most of them, 99% it seems doesn't work for me. this is not big problem much imo... but the big problem for me are Greedy and Not follow rules.
Psychology is the most important thing in forex.
Thanks for your comment. also, everybody who I didn't reply.
I want to be rich.
Hi eurusdthb,
most important first step is to manage your expectations. Your signature says you're aiming for 1m euros. When do you expect to achieve this and how? Eg if you start with 2000 euro and make 20% per month and compound winnings it will take approx 3 years to make 1mil. That is if you don't withdraw any to buy a fancy car etc along the way
Have you ever had a 20% month? 10? 1? Have you earned 1% a month consistently using the same method? If 3 years is too long for you to wait for financial freedom how are you going to earn more per month. Willing to wait 20 years and it gets a little easier.
Once you've started to realise you won't get rich overnight you're on your way to being a winner and its time to start looking at money management. Stop blowing 10dollar accounts for the thrill of gambling.
most important first step is to manage your expectations. Your signature says you're aiming for 1m euros. When do you expect to achieve this and how? Eg if you start with 2000 euro and make 20% per month and compound winnings it will take approx 3 years to make 1mil. That is if you don't withdraw any to buy a fancy car etc along the way
Have you ever had a 20% month? 10? 1? Have you earned 1% a month consistently using the same method? If 3 years is too long for you to wait for financial freedom how are you going to earn more per month. Willing to wait 20 years and it gets a little easier.
Once you've started to realise you won't get rich overnight you're on your way to being a winner and its time to start looking at money management. Stop blowing 10dollar accounts for the thrill of gambling.
- #52
- Oct 29, 2013 4:46pm Oct 29, 2013 4:46pm
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
...... NOT LISTEN TO ANY ADVICE ON THIS FORUM. ........ You must .......
- #53
- Oct 29, 2013 7:20pm Oct 29, 2013 7:20pm
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
- #56
- Oct 31, 2013 4:58pm Oct 31, 2013 4:58pm
The holy grail to not only forex, but all things trading is mastering yourself. If you look back at your trades youll find more times than not you were right, you just mismanaged the position. It doesn't matter which indicators you use, because it always depends on yourself. So learn to understand your self and how you psychologically(why you enter trades and exit trades when you do, do you feel like your missing out, losing money by not being in the trades, etc) trade, and then you will become profitable.
at least that was the case with me. and I am still learning how I myself trade. I have had many ups and downs but it is finally starting to become an upward equity curve
It is NEVER the game. Its ALWAYS the player.
at least that was the case with me. and I am still learning how I myself trade. I have had many ups and downs but it is finally starting to become an upward equity curve
It is NEVER the game. Its ALWAYS the player.
The Meek Shall Inherit The Earth...
- #57
- Oct 31, 2013 7:42pm Oct 31, 2013 7:42pm
- Joined May 2007 | Status: MT4/MT5 EAs/Indicators/Alerts coder | 6,542 Posts
MT4/MT5 EAs/Indicators/Alerts coder
- #60
- Dec 9, 2013 1:26pm Dec 9, 2013 1:26pm
- Joined Dec 2006 | Status: Backtest is meaningless (to me) | 2,176 Posts
