Full time traders

antonb1985

Newbie
1 1
Hi all, Is anyone here a full time trader. I've been at this for about 5 years on and off. Never able to make profits. I never lost anything but I never made anything either. One of issues I keep running into is I make trades, make some money. Then flow up with bad trades always coming up to 0 over a period of time. For those you who are profitable and I mean over a long period of time, how did you solve this problem.?
 
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MasterOfCoin

Experienced member
1,134 440
Hi all, Is anyone here a full time trader. I've been at this for about 5 years on and off. Never able to make profits. I never lost anything but I never made anything either. One of issues I keep running into is I make trades, make some money. Then flow up with bad trades always coming up to 0 over a period of time. For those you who are profitable and I mean over a long period of time, how did you solve this problem.?
In one word, perseverance

:) .
 

tomorton

Legendary member
8,315 1,307
The way I found to make profits is through simple solutions, so simple many traders will discount them right away.

Start with the principle that your losers are limited but your winners must be free to run. This means two things - firstly always use a stop-loss; secondly, don't set TP's. If you're not setting TP's and you want your winners to run this means you must be trying to get into a trend - so be a trend-follower. Avoid trading ranges or patterns - these approaches inherently limit your gains per trade.

I am good at TA but find it unreliable to try and pick the best forex pair or stock to get into. So I take all the entry signals available, aiming to see the losers cut or stopped out and the winners run on. So I had to reduce my position sizes to allow multiple positions.

Because these are small positions I am now able to maximise gains by pyramiding the winners. You can do this as aggressively as you like but you must keep a maximum aggregate risk in focus, which might be for example, 2% of your account capital per pair or share.

Finally, I started taking profits earlier. If you look at a forex D1 chart you will see its not common for prices to close higher in an uptrend for more then 3 consecutive days. so I aim to exit at the close of the third day which moves in my favour. Remember that this chart would have been a trend so as soon as a subsequent day with a lower close or a lower high prints (which should be very soon), that is a re-entry opportunity.
 

Henow1969

Active member
217 22
Hi all, Is anyone here a full time trader. I've been at this for about 5 years on and off. Never able to make profits. I never lost anything but I never made anything either. One of issues I keep running into is I make trades, make some money. Then flow up with bad trades always coming up to 0 over a period of time. For those you who are profitable and I mean over a long period of time, how did you solve this problem.?
Patience is the key and without patience, it will be difficult to make a proper profit in forex trading.
 

AttikusFinch

Newbie
1 1
I personally know guys who raise large amounts of money from trading. It is imperative in this area to have perfect emotional control and not allow yourself to influence some of the falls because this is an unstable market, and many give in to market pressure. I have a friend who is an online broker and tells me that many sells when the market price falls, which is a huge mistake. The cryptocurrency market needs to be analyzed first, and if you look closely, the cost can always fall even after it doubles. This is also a statistic about it. Read about risk management because it is the basis for trading.
 
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ARBinstruktor

Junior member
31 3
Hi Anton!

If you really manage to break even, you are already on good track.

Remember the Vegas veteran's weekend prayer. "Oh Lord let me break even this weekend, I really need the money next week..."

But to get serious again, it is a good basis. Normally risk management can help in such a situation. You have to skew your trade results. Let the profits run a longer time and higher size, and cut your losses earlier.
 

mpups

Experienced member
1,021 139
Hi all, Is anyone here a full time trader. I've been at this for about 5 years on and off. Never able to make profits. I never lost anything but I never made anything either. One of issues I keep running into is I make trades, make some money. Then flow up with bad trades always coming up to 0 over a period of time. For those you who are profitable and I mean over a long period of time, how did you solve this problem.?
Hello, your question is so generalised that all you are ultimately asking is "how do I become a profitable trader?" don't you think?
 
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Delilah_10

Junior member
31 4
I completely understand what you're trying to say and all i would say is forex is quite complex and you only learn when you fall. For me, on ething that has worked is practice. Even when i made losses i began my next day with enthusiasm and without regrets. Another thing that i kept in mind was to never risk more than 2% whatsoever. So if you want to be profitable too, you'll have to yourself identify your weaknesses and work on them.
 

Mart Beeb

Newbie
1 0
Hi all, Is anyone here a full time trader. I've been at this for about 5 years on and off. Never able to make profits. I never lost anything but I never made anything either. One of issues I keep running into is I make trades, make some money. Then flow up with bad trades always coming up to 0 over a period of time. For those you who are profitable and I mean over a long period of time, how did you solve this problem.?
Hello. I'm also a full time trader. The reason most traders make zero or little profit is because of the kind of currency they trade. It's not just about trading, it's about trading right to maximize your returns on capital.
Before going into a trade, the first thing to measure is the level of lucrativity that's how lucrative the trading can be over time. The best kinds of trading is medium term
 

mpups

Experienced member
1,021 139
Hello. I'm also a full time trader. The reason most traders make zero or little profit is because of the kind of currency they trade. It's not just about trading, it's about trading right to maximize your returns on capital.
Before going into a trade, the first thing to measure is the level of lucrativity that's how lucrative the trading can be over time. The best kinds of trading is medium term
the kind of currency they trade... :confused:
what does that mean?
 
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jonfuentesx

Member
55 55
Do you have a diary? Keeping a journal and doing a weekly review helps to identify mistakes. Write each operation and do a review on Sundays and then on the last day of each month, you do a review on the four reviews of the month. Little by little you will solve errors and apply optimizations that will slowly improve your trading.
 
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ridgeback

Newbie
4 2
Took me about 5 years. It has nothing to do with forum posts, entries or exits, indicators, blah,blah.
When I ignored all the junk spouted about these forums and online and made up my own rules, only then I began to work things out. It is 100% about trade management, margin management and having the discipline to trade your account to survive another day. Everything else is plain BS.
 
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absence

Junior member
46 9
Trading can be very difficult for all of us, I think it has been more than a long time since I started trading and thought the whole journey, I have been on and off trading. Preservance is the key in making a disciplined trading.
 
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LuckyMac

Junior member
45 9
Completely agree it is the one trait you need, you need perseverance. It's key to belief in yourself and stick with it
 
 
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