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What helped you the most to be profitable?

  • #221
  • Nov 15, 2016 2:09pm Nov 15, 2016 2:09pm
Changing my leverage to 25 to 1 stopped me from overtrading and was essential to my trading also stop the unrealistic expectations you are not going to make a million dollars in a year have patience and don't trade if you are desperate to make money think of trading as a side line that maybe one day might become an extra source of income I have no idea how to trade 5 min charts it doesn't work for me so I started moving to the higher time frames I check the monthly for perspective and then work my way down but I never go below the 1 hour chart but everyone has there different style
  • #222
  • Nov 15, 2016 10:43pm Nov 15, 2016 10:43pm
Which trading simulator have you used, could you share?
  • #223
  • Nov 23, 2016 4:23am Nov 23, 2016 4:23am
Another thing that helped me was gaining confidence in my own abilities. I still make mistakes, of course, but even so I think it is important to stick to one's decisions and not be too prone to outside influence.
  • #224
  • Nov 23, 2016 5:01am Nov 23, 2016 5:01am
good money management it should be to determine the value of its risks in advance, if we have set the value of its risks, then we divide by the value SL is ready to accept, will see the value of lot, if we are now mostly used to define a lot of new SL
  • #225
  • Nov 23, 2016 7:05am Nov 23, 2016 7:05am
To me, self-discipline and control over emotions helped me to some extent. If some trades seem to go to hit stop-loss, anyway it is a must to stick to trading plan. many such trades were closed by me with some profit
  • #226
  • Nov 24, 2016 3:12am Nov 24, 2016 3:12am
True, one should always stick to their trading plan. However, one should also work on having the best possible trading plan they can come up with, because no amount of discipline can make up for a bad one.
  • #227
  • Dec 8, 2016 7:00pm Dec 8, 2016 7:00pm
What helped me be a better trader ( starting from scratch ) was this websight honestly, learning to trade the news and learning from other traders on the forums here and on another trading website called alps social, both these sites are filled with other experienced and beginner traders who help each other and give ideas! i find this very helpful when i am unsure of how the markets react to news!
  • #228
  • Dec 8, 2016 8:54pm Dec 8, 2016 8:54pm
I have learned Forex by self and none has helped me expect me to gain knowledge about Forex and being skillful for it. I have read so many websites and strategy online according which have develop my system and working on it.
  • #229
  • Dec 8, 2016 11:55pm Dec 8, 2016 11:55pm
Quoting Butterscotch
I have learned Forex by self and none has helped me expect me to gain knowledge about Forex and being skillful for it. I have read so many websites and strategy online according which have develop my system and working on it.
learning course must be with all the time we did, because without a good study would be very difficult to run a forex business, and with the risk of reminding should be maximally optimize the skills and abilities
  • #230
  • Dec 9, 2016 4:35am Dec 9, 2016 4:35am
Quoting Butterscotch
I have learned Forex by self and none has helped me expect me to gain knowledge about Forex and being skillful for it. I have read so many websites and strategy online according which have develop my system and working on it.
I really admire people who are entirely self-taught. I had the help of someone close to me who offered to teach me, I am not sure I could've done it without them.
  • #231
  • Dec 9, 2016 6:03am Dec 9, 2016 6:03am
The most difficult part was changing the mindset from 'how much can I earn' to 'how much can I lose'. In short: controling the risk was the most important lesson for me.
  • #232
  • Dec 10, 2016 4:56am Dec 10, 2016 4:56am
I agree, it's better to first and foremost focus on not losing money, rather than profiting. Once you learn to cut your losses then profits will come trickling in.
  • #233
  • Dec 12, 2016 3:02am Dec 12, 2016 3:02am
Quoting Lilly88
The most difficult part was changing the mindset from 'how much can I earn' to 'how much can I lose'. In short: controling the risk was the most important lesson for me.
100% agree on this one.
  • #234
  • Dec 15, 2016 10:51am Dec 15, 2016 10:51am
Be carefull to red news and be patience
  • #235
  • Jan 8, 2017 10:16am Jan 8, 2017 10:16am
Knowing when the news comes out is very important. Not trading before the news immediately saved me a load of money
  • #236
  • Jan 8, 2017 5:42pm Jan 8, 2017 5:42pm
Quoting RalJo
Knowing when the news comes out is very important. Not trading before the news immediately saved me a load of money
this is a must for all new traders
  • #237
  • Jan 19, 2017 1:13am Jan 19, 2017 1:13am
in helping to be profitable in forex business is certainly a way to learn to do, because the more to continue to learn in doing, the better the science that will be obtained, success also depends on his knowledge of each trader
  • #238
  • Jan 19, 2017 2:31am Jan 19, 2017 2:31am
I became profitable after a pulled my arse into gear and realised I simply wasn't working hard enough.

I thought i could open a chart, reply on a few indicators or price action signals and simply trade it. I had become lazy.

I went back to doing proper analysis on my markets top down. Start on the daily charts and work my want down. Every Sunday evening I ready for the week. I know what levels i'm looking for and i know what i going to do when those levels are reached. I have a plan!
  • #239
  • Jan 19, 2017 4:57am Jan 19, 2017 4:57am
Quoting Brixton
I became profitable after a pulled my arse into gear and realised I simply wasn't working hard enough. I thought i could open a chart, reply on a few indicators or price action signals and simply trade it. I had become lazy. I went back to doing proper analysis on my markets top down. Start on the daily charts and work my want down. Every Sunday evening I ready for the week. I know what levels i'm looking for and i know what i going to do when those levels are reached. I have a plan!
Great response! Newbie traders need to understand that Forex trading requires a lot of hard work in order to be profitable. It’s not a get rich quick scheme, and if someone’s trying to present it to them like this they’re probably trying to scam them.
  • #240
  • Jan 19, 2017 12:28pm Jan 19, 2017 12:28pm
A question to Jumb0 - setting TP higher than SL. Sorry did not mean to hijack this thread.

What I have come across in demo trading is though the price touched (tail) the TP, order does not get closed. However, tail in SL region - seems to close it without fail. I tried to do limit orders, though the tail was at the price I had specified, order did not get executed.

I am wondering if other's face similar issue. How can one rely on SL or TP and sleep in peace if it is a live account?
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