stuck in the 90%!

onisuk

Newbie
4 0
Hi, I guess I'm here because like most in these forums I have failed to turn a profit from trading.....
A little back story....
I started trading with infinite prosperity about 4 years ago went well to begin with trading fx and then went nowhere, I won some I lost some ended up with 30% dd and stopped trading . then I moved onto spread betting and currently trade indices like the s&p, the dax, FTSE and commodities like Brent and gold.

I would like to just supplement my full time job I don't want anything crazy but an extra few £££ a month would be great.
I've been starting to think that this trading game just isn't possible to win at as a retail trader, much like visiting the casino, some you win some you lose but the house (market) has the edge over you!
So I thought what info do market makers have I don't and then looked at order flow trading but training seems very expensive !!

I can get home in time for the pm NYC session so can trade after work.. I live in London minutes form canary wharf it would be great if someone could point me in the direction of a proifatble strategy if such a holy grail exists ????

I would love to be trained 1to1 in the city but most training firms seem to be total BS to me....

Let me know onis
 

tomorton

Legendary member
8,176 1,240
There are lots and lots of strategies that can be made to be profitable but the human element - managing trades, capital and risk - is less dependable.

Losing trades are an inevitable business overhead, not a sign of failure.

Have you past experience in reading price charts?
 

Jason101

Experienced member
1,372 215
If you are talking about order flow, it sounds as though you are trying to trade short time frames.
I would suggest that this is hard for several reasons. You are using spread bet co.'s which means the shorter the time fame the greater the % cost in fees. So the harder it is to profit.
I think spread bet companies better serve longer term traders. Also If you are working full time and trading lower t/f then any trading time you have will be very intense and you will have pressure to force trades because you are available. I would imagine daily plus could be easier for you?
Find your time frame first. Then what trading principles suits you and build a strategy around that.
Like tomorton says the human element - managing trades, capital and risk - is less dependable.
So my advice would be to tailor make these parts as well to compliment your own psychology, in particular your own fear and greed. But after offering advice I would say above all find your own way.
 

PualoP

Well-known member
402 36
What are your stats?
Win/Loss %
Avg Winner
Avg Loser

I bet you have a high win %, but very small winners and massive losers. This is the major reason why the 90% are the 90%.
 

onisuk

Newbie
4 0
There are lots and lots of strategies that can be made to be profitable but the human element - managing trades, capital and risk - is less dependable.

Losing trades are an inevitable business overhead, not a sign of failure.

Have you past experience in reading price charts?

Well I don't think I'm letting the side down too much, a few mistakes yes but I just genuinely don't think i've had a profitable strat yet....

My loss ratio is about 58% and avg loss about equal to gain, I'm in sideways consolidation in my account lol

I'm trading short term yes because I can only trade the pm NYC session I'm trading a hidden divergence s&p system from a guy call nick from markets mastered. I've seen him mentioned on here and he does seem a bit suspect.

Would be good to meet someone who trades the pm session successfully so I could emulate their trading style.
 
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