Hi Jimsnz I will say my weakness lies in fundamental analysis, Ive strived to make the most simplistic trading method possible - it would be nice to have a fundamental analysis on the majors and an alternative view on technical analysis
- #23
- Jan 1, 2017 3:40am Jan 1, 2017 3:40am
What did I take from 2016? Trading is all mindset. The market structure repeats itself, you can look at a hundred years back and confirm this statement. So why doesn't it change? It doesn't change because it goes against human nature and this is why 90℅ of traders lose. Developing the correct mindset to become a consistent, profitable traders takes years to evolve, but by that time most traders have already given up. So accept now that all of your trades will not be winners because when you lose a trade, the mindset you need to succeed in...
Never Gamble Forex
- #24
- Jan 1, 2017 6:28am Jan 1, 2017 6:28am
Trade fearless not careless...
Syed Mohsin Ali Profit This Month:
-196
Any true aspiring trader knows that becoming a consistent profitable trader takes years of hard work and sacrifices and clowns like these guys that portray trading currency as an easy journey should be avoided. They post a few winning trades (on demo) but they are not making consistent money by actually trading over the long run, instead they make their money with subscriptions to their methods. And then they have the audacity to called themselves traders. Clowns. I have no issue with traders that have years of proven consistency and profitability that make the decision to guide new traders in this difficult journey, but everyone nowadays on social media with three months of trading experience are selling signals and "training." On the first pic a "trader" which states that with only $40 in his name and a year of hard work he is able to throw a 100.0 lot. LOL. Another one with five months of market exposure with no prior experience is now able to teach thousands of students how to become a consistent, profitable trader.
Stay away from these guys. Even though I got my first trading book over three years ago, my drive and determination to become a successful trader began sixteen months ago when I first learned of Forex and had returned back to the US. Prior to that I was station in Europe (currently in the military) where I was able to visit countries like Spain, England, Portugal, Italy, France and was not as devoted to trading as I am now. In the end, it took me three years to write and most importantly comprehend my posts #13 and #22. Focus on your charts, ignore the rest and read those two posts over and over again. Honestly, I feel those two posts are invaluable to struggling traders that have lost hope are ready to throw in the towel. Overcoming the threshold of consistency will not happen until the correct trader's mindset is unlocked.
Stay away from these guys. Even though I got my first trading book over three years ago, my drive and determination to become a successful trader began sixteen months ago when I first learned of Forex and had returned back to the US. Prior to that I was station in Europe (currently in the military) where I was able to visit countries like Spain, England, Portugal, Italy, France and was not as devoted to trading as I am now. In the end, it took me three years to write and most importantly comprehend my posts #13 and #22. Focus on your charts, ignore the rest and read those two posts over and over again. Honestly, I feel those two posts are invaluable to struggling traders that have lost hope are ready to throw in the towel. Overcoming the threshold of consistency will not happen until the correct trader's mindset is unlocked.
I think this is my last post for this thread. I had hopes of maybe meeting another like-minded trader here. It seems like most people (this is my opinion only) on FF are more focus on finding the Holy Grail to trading instead of concentrating on what matters most, mindset. I will begin tracking my monthly progress privately from now. I hope this thread shows all new aspiring traders Forex is a venture that takes years of sacrifice before it qualifies you as a seasoned trader. I wish everyone a successful journey. I will share my last words of wisdom (an Instagram post I made today) and if in the future a trader happens to stumble upon this thread and would like to get in touch, send me a DM on Instagram, I'm always happy to talk. Maybe I'll be back here , but in the meantime happy trading to all.
until you're 65 so you can finally enjoy a fulfilling retirement. It drives me crazy, honestly I would be in a better state of mind working as a waste collector away from other people in order to keep this intense focus alive on what I want out of my life. This is literally all I think about throughout the whole day. Time is the most valuable asset we all have, and the practice of exchanging time for money until your golden years scares me. Today I made in one day what the people in Colombia make in a months' wages. It's not about showing off, it's about making the decision that I will keep pushing to retire young, whether that place is here or in Colombia does not matter. Any place I can live comfortably without renouncing my freedom will become the true meaning of my happiness. "Money doesn't buy happiness; money buys choices. It's what you do with those choices that makes you happy."
until you're 65 so you can finally enjoy a fulfilling retirement. It drives me crazy, honestly I would be in a better state of mind working as a waste collector away from other people in order to keep this intense focus alive on what I want out of my life. This is literally all I think about throughout the whole day. Time is the most valuable asset we all have, and the practice of exchanging time for money until your golden years scares me. Today I made in one day what the people in Colombia make in a months' wages. It's not about showing off, it's about making the decision that I will keep pushing to retire young, whether that place is here or in Colombia does not matter. Any place I can live comfortably without renouncing my freedom will become the true meaning of my happiness. "Money doesn't buy happiness; money buys choices. It's what you do with those choices that makes you happy."
- #32
- Jan 13, 2017 6:53pm Jan 13, 2017 6:53pm
- Joined Aug 2016 | Status: Trader | 1,724 Posts
All the best to all of you. But don't follow me. I am a learner.
- #33
- Jan 14, 2017 4:20am Jan 14, 2017 4:20am
Trade fearless not careless...
Syed Mohsin Ali Profit This Month:
-196
Back on FF. Decided to stay away from the forums in general but still log in at least once a month to keep my trading accountable.
January 2017 Monthly Gain/Loss: +0.46%
"As long as you preserve your capital and make a consistent profit (even as low as 5-10% per month), you are ahead of 90% of traders."
January 2017 Monthly Gain/Loss: +0.46%
"As long as you preserve your capital and make a consistent profit (even as low as 5-10% per month), you are ahead of 90% of traders."
February 2017 Monthly Gain/Loss: +3.22%
The reason for the month's statement shown with MT4 is due to FXCM's decision to sell US accounts to GAIN Capital. I am using my other broker to trade for now.
The reason for the month's statement shown with MT4 is due to FXCM's decision to sell US accounts to GAIN Capital. I am using my other broker to trade for now.
March 2017 Monthly Gain/Loss: +0.93%
It took me many years to develop the discipline to just wait, be patient, and do nothing until there is opportunity. Many see trading as gambling because they lack an understanding of how it works. Going to a casino where the house has the edge is gambling; trading comes down to developing an edge, understanding market behavior and probabilities in order to execute that edge when the odds are in your favor. A trader's attitude towards his losing trades is the deciding factor between his success and failure. Losing is part of everyone's trading and you must learn to make peace with your losses. The outcome of your last trade should not impair your ability to take the next set-up the market gives you that makes part of your trading plan. Simply execute your buy or sell with zero emotions for a profit or loss. With that being said, accepting your losses only comes easy after you have been exposed to the charts long enough where you begin to develop a deeper understanding of the market's dynamic structure, after you start becoming consistent with a proven strategy and are able to identify and execute low-risk entries according to your trading plan without the slightest bit of hesitation nor conflict, and effectively using a money (risk) management that allows you to be profitable after taking into account your losing trades. That's really it. If you decide to learn how to trade your money, you need to treat it as a business and be accountable for every decision you make. Random trading and not having a proper trading plan is the same thing as gambling. Businesses are not just profits, they all have expenses the same way trading has inevitable losses. Track every week's realized profits/losses($) and percentages. For the last four months, I've had on average more losers than winners and yet have made profits for each month (small profits are still profits.) You become consistent at pulling a 10% monthly return in this, you're a beast. Those on Instagram showing you how to flip accounts every week are demo clowns or worse; telling you to trade your live account in such a manner and you listen.
That's enough of me talking. Be back in a few years when I have proven to myself I am a consistent, profitable trader. Remember, slow and steady will prevail. Even a 1% a week consistent approach will build wealth with time. If you want to reach out to me, my Instagram is the best way to go about it (listed on my FF profile.) Good luck to all.
It took me many years to develop the discipline to just wait, be patient, and do nothing until there is opportunity. Many see trading as gambling because they lack an understanding of how it works. Going to a casino where the house has the edge is gambling; trading comes down to developing an edge, understanding market behavior and probabilities in order to execute that edge when the odds are in your favor. A trader's attitude towards his losing trades is the deciding factor between his success and failure. Losing is part of everyone's trading and you must learn to make peace with your losses. The outcome of your last trade should not impair your ability to take the next set-up the market gives you that makes part of your trading plan. Simply execute your buy or sell with zero emotions for a profit or loss. With that being said, accepting your losses only comes easy after you have been exposed to the charts long enough where you begin to develop a deeper understanding of the market's dynamic structure, after you start becoming consistent with a proven strategy and are able to identify and execute low-risk entries according to your trading plan without the slightest bit of hesitation nor conflict, and effectively using a money (risk) management that allows you to be profitable after taking into account your losing trades. That's really it. If you decide to learn how to trade your money, you need to treat it as a business and be accountable for every decision you make. Random trading and not having a proper trading plan is the same thing as gambling. Businesses are not just profits, they all have expenses the same way trading has inevitable losses. Track every week's realized profits/losses($) and percentages. For the last four months, I've had on average more losers than winners and yet have made profits for each month (small profits are still profits.) You become consistent at pulling a 10% monthly return in this, you're a beast. Those on Instagram showing you how to flip accounts every week are demo clowns or worse; telling you to trade your live account in such a manner and you listen.
That's enough of me talking. Be back in a few years when I have proven to myself I am a consistent, profitable trader. Remember, slow and steady will prevail. Even a 1% a week consistent approach will build wealth with time. If you want to reach out to me, my Instagram is the best way to go about it (listed on my FF profile.) Good luck to all.
I wanted to share a very important milestone in my trading. I have been trading for +3.5 years and have succeeded in surviving the markets, for the most part ending in break-even and small losses. For the last six months, I have been profitable and ending the month in profit (one losing month but recover the loss and made some the next month), this is what trading is about and what really matters after all is said and done. I am very happy to finally start overcoming the threshold of consistency and that I do not currently make part of the statistic that +90% of traders lose their money. I am understanding the dynamics of the market I operate in, focusing on the type of trades I am highly proficient in, and developing the discipline needed to not take unnecessary trades that will ultimately reduce my trading performance, and last but not least a money management system that fits my trading personality and I am still learning how to excel in. I am keeping the risk in a level I can emotionally control, and seeing the progress I am making I am ready to increase the risk to a level I can still be proficient in the market. Trading is very personal and osmosis in nature, and I am here to really learn to be proficient in making money from the market, not relying on this bullshit Forex marketing schemes we see today that portrays every trader you run into as a successful trader. The video is showing me logging into Amazon recently to check my "order" history so you can see the purchase of my first trading book (in 2013) to show new trades that overnight success in trading is really in fact a multi-year process and the photo shows my current six months of trading data.
- #40
- Jun 4, 2017 7:13pm Jun 4, 2017 7:13pm
Trade fearless not careless...
Syed Mohsin Ali Profit This Month:
-196