stuck in the 90%!

[onisuk]

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]

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]

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]

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]

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.