Any consistently profitable trader who is willing to provide help?

hypnos_trade

Junior member
11 0
Hi all

Firstly I apologise if such post should not be created under this section, or even not at all (as it may be a little be depressing).

It needs a big courage to create this post, and I dare to do so because I really dont know what to do now. I have disappointed myself, my family and the people who offered their knowledge to me in this forum before.

Long story short, and I do want to keep this post with minimum personal information right now. As I want to protect my family from being on story in public/internet media.

I have LOST ALL MY SAVINGS in trading two weeks ago, and I am a man with a family of 2 young children who have not even started school. I am feeling very depressed, I don't know how to recover the loss and how to keep my life moving.

The reason for this post is, is there any consistently profitable trader who may be able to offer some help to me, please? I can share more about my story in private messaging.

This is really my last hope, please, if you consider yourself has a good heart and has the ability, I hope you can reach me.

Many thanks and much much appreciated.

Best regards to you.
 

Trader333

Moderator
8,608 935
Have a look at this thread and take note specifically of the technical aspects of it and you may find it useful.
 

MasterOfCoin

Well-known member
472 174
Of course we can try to help and offer knowledge in these difficult times.

Obviously, among the most important things to be doing is learning where your losses arose from, so as to not repeat those things in any future trading.

There will be ample opportunities to make good returns after the markets have bottomed out.

Use the time you have now to learn from the many threads of wisdom here to prepare for that.

Above all, do not despair.

:)
 

hypnos_trade

Junior member
11 0
Actually my failure happened during the last two week, when the market turned "bull" and I was still shorting the market, as I have an overall bearish view, fundamentally I just can't believe the economy can just recover, I think people behavior would change, people lifestyle would change, confidence change.

I started to short the Dow with small, thinking that any high was a good point to short, when it went even higher, I was more convinced that the turnaround was nearly that, and I shorted even bigger, and there was no retuned, so my account blower.

Then I tried again with shorting the DAX, with the believe that the main trend is bearish, plus Euro economy is not as strong as the US, so I short and short bigger when it went higher and higher, hoping that the turnaround would come soon, but... Same failure and everything gone.

I should say my failure is I did day trading, and I should not really have a long term view on the market, but only the current micro trend.

And of course, position size killed me, otherwise I could last a big longer and still have some money left to start again, which I don't have the chance now.
 
Last edited:

tomorton

Legendary member
8,176 1,240
Hi hypnos - There is no profit in having beliefs about the market unless you have so much money that you can use it to move prices up or down and make your beliefs come true. You cannot consistently make money based on what you will believe WILL happen: you can consistently make money if you pay attention to what HAS happened.

Start saving to revive your account. Start demo trading for free and understand how to trade and make money before you risk what you have again saved into your live account. Don't buy a car if you can't drive yet.
 

hypnos_trade

Junior member
11 0
Now I am still watching the market, maybe for learning, maybe I am just addicted to it.

I still believe the market should drop, but again I am wrong, this time I just don't have any money to trade so didn't make further loss.......

I am really puzzled of how to trade now. Just can't get it right
 

hypnos_trade

Junior member
11 0
Hi hypnos - There is no profit in having beliefs about the market unless you have so much money that you can use it to move prices up or down and make your beliefs come true. You cannot consistently make money based on what you will believe WILL happen: you can consistently make money if you pay attention to what HAS happened.

Start saving to revive your account. Start demo trading for free and understand how to trade and make money before you risk what you have again saved into your live account. Don't buy a car if you can't drive yet.

I agree with you, but I was thinking that this "believe" or the long term fundamental view can put an edge on my trading.

Tomorton, what do you trade? Are you trade intraday? How do you trade with the trend?
 

tomorton

Legendary member
8,176 1,240
Right now I am running an opening range breakout strategy in the GBP/USD but in the past I have traded indices, shares, forex, commodities, long-term and intra-day.

A long-term view can hep with short-term trades but bear in mind that even in a months-long consistent uptrend, maybe only 55% of days show price rises.

Trading off the daily chart is a good way to understand technical analysis. Trend-following is the simplest strategy. Select a long and short MA, look for price which is above both, look to see both MA's are sloping upwards and the shorter one is above the longer one. Wait for a day with a lower high. Set a buy order above that day's high and a stop-loss below that day's low. Adjust position size so that you risk no more than 2% of your account capital. Then wait.
 

hypnos_trade

Junior member
11 0
Right now I am running an opening range breakout strategy in the GBP/USD but in the past I have traded indices, shares, forex, commodities, long-term and intra-day.

A long-term view can hep with short-term trades but bear in mind that even in a months-long consistent uptrend, maybe only 55% of days show price rises.

Trading off the daily chart is a good way to understand technical analysis. Trend-following is the simplest strategy. Select a long and short MA, look for price which is above both, look to see both MA's are sloping upwards and the shorter one is above the longer one. Wait for a day with a lower high. Set a buy order above that day's high and a stop-loss below that day's low. Adjust position size so that you risk no more than 2% of your account capital. Then wait.

May I ask why you don't trade indices?
 

tomorton

Legendary member
8,176 1,240
May I ask why you don't trade indices?


I am waiting to get back long on the Dow. For me its the only one necessary but I only trade it on the long side and it needs to be a lot more bullish long-term than it is right now.
 

hypnos_trade

Junior member
11 0
I am waiting to get back long on the Dow. For me its the only one necessary but I only trade it on the long side and it needs to be a lot more bullish long-term than it is right now.
So when you trade Dow, do you day trade or swing over a few days?
 

tomorton

Legendary member
8,176 1,240
I follow the Dow when its in an uptrend and hold until the trend weakens.

That said, in the past I have also pyramided the Dow when its been rising consistently and produced my best ever return on a set of trades. Pyramiding forex pairs rarely works as the trends are not as reliable or extended: it does happen but nothing like the Dow's uptrends.
 

hypnos_trade

Junior member
11 0
Dow in the past three weeks seem to have a good steady up rise ( when you look back into it), so how do you spot such opportunity when it is happening? If you trade what you see on chart, then it seems to be a very good uptrend to trade long, forget about the global virus situation.

And what do you when it retraces (speaking at the old time before 2020)?

I know you don't trade it right now but keen to learn the skill.
 

tomorton

Legendary member
8,176 1,240
It'll be weeks before I get involved in the Dow again, as I only buy it when its above both the 20 and 50EMA's, which are both sloping upwards and the 20 is above the 50. I'm waiting.
 
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