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Trading is hard, but I like it

  • #21
  • Feb 3, 2017 1:11pm Feb 3, 2017 1:11pm
Actually, Forex trading business is hard for low skilled Forex traders! But I see, professional Forex traders are making handsome money here quite comfortably! Yeah, when I was a new Forex trader then, I also faced so many difficulties as like others newbie, but now I am enjoying my live trading a lot!
  • #22
  • Edited 5:16pm Feb 3, 2017 4:31pm | Edited 5:16pm
Quoting douzihp
It is very hard ,but I like it.it is only 3 percent to stop lossing .I hope I can continue to walk in this road. {image}
I think what you need to do is study your system more to find out what allows it to make profit and what doesn't. It's clear that you have only started making steady pips at Trade #600 and not before. You had some bursts of profits here and there before but those were all result of sudden news events which I would suggest you to stay away from; those are not trading but gambling. When they work out, they give good profits but when they don't work out, they push your profits down or drive you into further losses and it takes you a LONG time to recover. Honestly if have a system that allows you to make consistent profits, you don't really need to trade in those sudden events which you are just playing with luck.

But from Trade #600, it's clear that you are making +ve pips. So you need to figure out WHY it's allowing you to make money now and not before. Is it something that you are doing differently or is it something in the market that changed? If it's the market that changed, WHAT is it that's in your system that's allowing you to take advantage of this new market condition that allows you to make money? HOW did the market change? Is it trending up? Is it trending more or ranging more now? Does it have more volumes now? Is this same mechanism going to work against me or stop allowing me to make profit if the market behaviour changes? The Forex market is VERY dynamic. It's constantly changing; a system that allows you to make money in this current market condition might make you make losses if the market condition changes. So your system needs to be flexible enough that it would allow you to make money regardless of the nature of the market. Yes a system will do better in one type of market condition than another but it should still allow you to make profit and not losses. One way to figure this out is to backtest your system in the past in different market conditions to see the system would work. If not, then you need to figure out if there is anyway that you can make your system more flexible so it's what I call market-neutral.

Good luck! Hope you can keep making pips!
Make your losses in demo. Earn your profits live.
  • #23
  • Feb 8, 2017 7:55pm Feb 8, 2017 7:55pm
Quoting Forexia
{quote} I think what you need to do is study your system more to find out what allows it to make profit and what doesn't. It's clear that you have only started making steady pips at Trade #600 and not before. You had some bursts of profits here and there before but those were all result of sudden news events which I would suggest you to stay away from; those are not trading but gambling. When they work out, they give good profits but when they don't work out, they push your profits down or drive you into further losses and it takes you a LONG time...
Thank u for your reply.
more profit,less loss.
  • #24
  • Mar 24, 2017 9:50pm Mar 24, 2017 9:50pm
mark,is alive in market .
I try another style
the most important is survival.
more profit,less loss.
  • #25
  • Mar 24, 2017 10:04pm Mar 24, 2017 10:04pm
Quoting douzihp
mark,is alive in market . I try another style the most important is survival.
If it's seeming too hard then my guess is that your system may need to be polished a bit more. My two pips is to keep changing things until you have an easy well-defined process.
  • #26
  • Mar 26, 2017 9:30am Mar 26, 2017 9:30am
Best of luck; nice to see your confident level! I hope gradually you'll make more success in your trading! Naturally, all of new Forex traders face lots of problem in their initial stage of trading; but which traders focus on only their learning process, end of the day they only can enjoy their trading profession! On the other hand, which traders want to make quick success, they are known as greedy Forex traders, they are the losers!
  • #27
  • Apr 10, 2017 3:47am Apr 10, 2017 3:47am
Quoting faisal13
Best of luck; nice to see your confident level! I hope gradually you'll make more success in your trading! Naturally, all of new Forex traders face lots of problem in their initial stage of trading; but which traders focus on only their learning process, end of the day they only can enjoy their trading profession! On the other hand, which traders want to make quick success, they are known as greedy Forex traders, they are the losers!
I agree with you! newbies face a lot of issues initially settling in forex trading. But gradually if they follow a well developed trading plan with discipline and pay attention in gaining as much knowledge they could rather focusing on making big bucks quickly, they can sure make their way in trading.
  • #28
  • Apr 10, 2017 5:34am Apr 10, 2017 5:34am
Quoting forex.darren
{quote} I agree with you! newbies face a lot of issues initially settling in forex trading. But gradually if they follow a well developed trading plan with discipline and pay attention in gaining as much knowledge they could rather focusing on making big bucks quickly, they can sure make their way in trading.
I agree. Forex trading is a marathon, not a sprint. Trying to make a large profit quickly regardless of the risk only leads to losses.
  • #29
  • Apr 10, 2017 5:57am Apr 10, 2017 5:57am
hello.
I'm new in community.
I have an important question:
why are the forecast data of forex factory different from other economics calendar (investing, dailyfx ecc)?
thank you.
f.
  • #30
  • Apr 10, 2017 6:12am Apr 10, 2017 6:12am
Quoting fedehuscher
hello. I'm new in community. I have an important question: why are the forecast data of forex factory different from other economics calendar (investing, dailyfx ecc)? thank you. f.
Not sure which news you are referring to.. but i am also using FF economic calendar and so far it is good and comprehensive too.
  • #31
  • Apr 17, 2017 3:21am Apr 17, 2017 3:21am
Quoting mlawson71
{quote} I agree. Forex trading is a marathon, not a sprint. Trying to make a large profit quickly regardless of the risk only leads to losses.
True that! Forex demands a lot of knowledge and practice with a dedicated trading plan to make long term consistent profits. I believe there are no shortcuts to success in forex.
  • #32
  • Apr 17, 2017 6:26am Apr 17, 2017 6:26am
Quoting forex.darren
{quote} True that! Forex demands a lot of knowledge and practice with a dedicated trading plan to make long term consistent profits. I believe there are no shortcuts to success in forex.
My point exactly. Learning to trade well requires time and effort. One can't skip that, although I am sure that we all wished that we could. I certainly have.
  • #33
  • Apr 18, 2017 4:31am Apr 18, 2017 4:31am
Quoting mlawson71
{quote} My point exactly. Learning to trade well requires time and effort. One can't skip that, although I am sure that we all wished that we could. I certainly have.
Totally agreed. Trading is hard but with proper plans and strategy it can be made easy. Nothing is easy, for achieving something we need to do hardwork so as in forex trading. In order to get comfortable with trading, one need to acquire due experience and it takes time. So, one need to be patient as result is not instant. To trade one need to have proper mindset and determination to trade.
  • #34
  • Apr 19, 2017 3:16am Apr 19, 2017 3:16am
Quoting mlawson71
{quote} My point exactly. Learning to trade well requires time and effort. One can't skip that, although I am sure that we all wished that we could. I certainly have.
Yaa! That’s the story of almost every trader who is trying to be a successful trader. Everyone knows the rules but only a few traders take steps with discipline. Discipline in following the trading rules and patience in waiting for the right opportunity to enter the market are essential for a trader to succeed.
  • #35
  • Apr 19, 2017 7:06am Apr 19, 2017 7:06am
Quoting forex.darren
{quote} Yaa! Thats the story of almost every trader who is trying to be a successful trader. Everyone knows the rules but only a few traders take steps with discipline. Discipline in following the trading rules and patience in waiting for the right opportunity to enter the market are essential for a trader to succeed.
Wanting to make a profit is just part of who we all are as traders, and when you're inexperienced that desire have a blinding effect, unfortunately.
  • #36
  • Apr 20, 2017 10:15am Apr 20, 2017 10:15am
Best of luck buddy, I have already overcome my struggling sessions of trading and I can handle my live trading account so smoothly! Right now I am trading with 68% monthly accuracy! In addition, my money management as well as risk management knowledge helps me to make a standard profit ratio here! By the way, 1st year of trading was so critical!
  • #37
  • Apr 24, 2017 2:21am Apr 24, 2017 2:21am
Quoting mlawson71
{quote} Wanting to make a profit is just part of who we all are as traders, and when you're inexperienced that desire have a blinding effect, unfortunately.
you're Right ! For an inexperienced trader, money comes secondary. First thing should be gaining knowledge and experience through practice.
  • #38
  • Apr 24, 2017 6:11am Apr 24, 2017 6:11am
Quoting forex.darren
{quote} you're Right ! For an inexperienced trader, money comes secondary. First thing should be gaining knowledge and experience through practice.
Money are rarely secondary, especially to a trader, but I would say that they're equally important to a newbie - especially not losing them, as opposed to profiting - as gaining knowledge and experience.
  • #39
  • Apr 24, 2017 6:36am Apr 24, 2017 6:36am
Quoting mlawson71
{quote} Money are rarely secondary, especially to a trader, but I would say that they're equally important to a newbie - especially not losing them, as opposed to profiting - as gaining knowledge and experience.

Also Mindset - Massive value IMO - Need to understand the emotional side of it all. Gives you a huge advantage, and not just in your trading, but in everything you do, plenty of good reads out there with this in mind.
  • #40
  • Apr 24, 2017 9:31am Apr 24, 2017 9:31am
Quoting jamesrs59
{quote} Also Mindset - Massive value IMO - Need to understand the emotional side of it all. Gives you a huge advantage, and not just in your trading, but in everything you do, plenty of good reads out there with this in mind.
Mindset and money correlates a lot. We're almost all relaxed tradings micro lots or just demo, looking on the chart without making emotional panic decisions like we should. It all changes quite abruptly with the increase of value-per-pip. My advise is to analyse your own behaviour - if you notice you're fixated on the P/L column while you should look on the chart then hide that column. If people would stop self sabotaging them selves they would almost automatically become better traders.

Otherwise I agree with something that was said somewhere above: Look on your potential loss first, then on your potential win. I trade for a living, I do not look at all on risk:reward, I look after controllable losses that are easy to get back. A healthy R:R might be a side effect of that.
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