Why do I keep losing money at forex?

[arbus]

Here is an example.

In the news today (ABC) AUDUSD wont fall below 98c

 

[angelnish]

that is really key!!!
If you affront market everyday with the homework done the night before, and knowing what exactly are you gonna expect for the session...(if and them)....then is a game of waiting with patience for the market shows you that your analysis was right.... if not, no problem... one shouldn't trade what it is not in his plan!!!

Hi Enzzo, very well said dear, thanx

 

[Enzzo]

Hi Enzzo, very well said dear, thanx

If we assume that the well-known stats between winner/loser traders are true, that i personally think they aren't, but anyways.....
Look at the edge there!!!

 

[Arbu]

I've been studying the foreign exchange market hours each day for over a year. I've also read piles of books on technical trading strategies, economic indicators, market timing, psychological discipline, stocks, bonds, futures, options, etc. I practice trading forex on a demo account as well as on a real mini-lot account. No matter what I try, my results are always slightly worse than 50/50. I'm seriously beginning to think that NOBODY trading forex makes any money in the long run. I don't just say this because I suck, but because I think it is statistically impossible to win at a game of random incremental price movements after paying a spread. I've sometimes made up to $20,000 on my demo platform, but I always eventually lose more than I gained--which is exactly how I would expect to perform at a completely random game after paying a fee each time I play. Don't get me wrong when I call it a game: I take trading very seriously.

Does anyone consistently make a profit trading forex? Please don't answer this question in the affirmative unless you yourself make consistent profits.

Cheers,

Kakuzo

I think your problem is reading all those books. I think a lot of trading is common sense. But there's no book to be written about common sense. Instead someone who wants to write a book writes about dojis and shooting stars blah blah blah and can fill reams on it. Ignore them and think about the basics.

 

[Pi3141]

FWIW, I think you're more likely to make a profit by concentrating on a few major indices, even if logic says FX would be easier to trade. Also, beware of spending too long on demo. Once you're familiar with a platform, use real money with small stakes (assuming you're somewhere that SB is possible) and aim for consistent results with no major swings in account balance.

I also believe that people stand a greater chance trading indices rather than FX.. but I dont know the reason why though. Would you mind explaining your reasons for holding this view?

Thanks

 

[angelnish]

If we assume that the well-known stats between winner/loser traders are true, that i personally think they aren't, but anyways.....
Look at the edge there!!!

Thanks for your advice Enzzo, I think you are one of the best trader.:smart:

 

[Enzzo]

Thanks for your advice Enzzo, I think you are one of the best trader.:smart:

Thanks for the nice words Angelnish...
There are a lot of better traders than me in this community for sure...
But if I can help a little, I'm glad to do it

 

[ph_trader]

first i'd like to say on of the things that are costing you to lose is negative thinking try to be more optimistic, another thing is, you said you can make up to 20k in demo, the next step is to stop trading and let the day pass after a big catch, we might lose 3 4 or even 5 trades and make it up with one big one, then its time to close trading for that day if you are uncertain! the secret of trading is not earning morey, its finding ways to avoid losing trades, even if it means not trading for that day. thats what im doing with my hotforex account and im pretty much happy with my results, though im not that good

 

[chooseexport]

Good luck to you

 

[angelnish]

Thanks for the nice words Angelnish...
There are a lot of better traders than me in this community for sure...
But if I can help a little, I'm glad to do it

Soooooo sweet of you. Happy Trading!

 

[Fx365]

Does anyone consistently make a profit trading forex?

Not that I know. I met football and horse racing gamblers who were making a good living but never a Forex trader. Of course, there are the ones claiming to make profits but they never provide a proof.

If you follow football and/or horse racing you may have better chances..

 

[burdianex]

You left out the most important piece of information: your choice of time frame. Shorter time frames like 1-minute bars are random. A bank might get their next 10MM order from a customer now or five min from now. You can't trade short term news either. The big banks have traders 24/7 watching multiple premium news feeds. By the time you and I find out about it, the banks have already digested the information and taken their positions and moved on.

Stick to longer period charts.

 

[perox]

Consistent profit have a different definition when it comes to trading FX. Sometimes I make profit for straight three days, and lose maybe once in a week. Would you call that consistent profit? I think i will because on the long run, no forex trader will tell you he hasn't loss or did not lose in a calender month.

Agree with you mate. No one can win forever. Sometime we win and sometimes we lose.

 

[dameonStar]

In this game you will loose at times but the key thing is win more lose less..
can you do that?:idea:

 

[Brumby]

No matter what I try, my results are always slightly worse than 50/50. I'm seriously beginning to think that NOBODY trading forex makes any money in the long run. I don't just say this because I suck, but because I think it is statistically impossible to win at a game of random incremental price movements after paying a spread.

I agree with the observation that the market appears to be predominantly random because it is a composite of trading decisions made by a diverse group of players. In view of this chaotic structure and the negative sum game, the odds are against the retail player being profitable on a consistent basis.

The only way that one can be ahead in this game is to trade the odds when they are in our favour. The craft of the trade is to learn to trade the windows when they are available and stay out when the odds are not there. For example, picking tops and bottoms is typically a loosing proposition but is a common preoccupation. So easy to say but so hard to do.

 

[perox]

In this game you will loose at times but the key thing is win more lose less..
can you do that?:idea:

Very tricky especially in forex trading. But there is no other way. We have to do this

 

[Davidee]

I've been studying the foreign exchange market hours each day for over a year. I've also read piles of books on technical trading strategies, economic indicators, market timing, psychological discipline, stocks, bonds, futures, options, etc. I practice trading forex on a demo account as well as on a real mini-lot account. No matter what I try, my results are always slightly worse than 50/50. I'm seriously beginning to think that NOBODY trading forex makes any money in the long run. I don't just say this because I suck, but because I think it is statistically impossible to win at a game of random incremental price movements after paying a spread. I've sometimes made up to $20,000 on my demo platform, but I always eventually lose more than I gained--which is exactly how I would expect to perform at a completely random game after paying a fee each time I play. Don't get me wrong when I call it a game: I take trading very seriously.

Does anyone consistently make a profit trading forex? Please don't answer this question in the affirmative unless you yourself make consistent profits.

Cheers,

Kakuzo

Forex is very difficult and the only way I know to make money at Forex is long-term trend following which also has huge draw downs.

The shorter the time frame the greater the degree of randomness, and on short-term time frames you're basically throwing a dice in my experience. Throw the costs of trading into the mix and on short-term time frames the results will be slightly worse than 50/50 for most people.

Why not try trading the S&P 500 indice instead? It's much easier to make money on that.

 

[Jack Francisco]

I have noticed that lots of people lose money because lacking of experience and knowledge. most of the people want profit not knowledge as a result they do not learn properly and do fault during trading and lose money which deserve they. Some people have no basic knowledge and they think it is so easy, and that's the main reason for loser in forex..

 

[neil]

There’s no strategy that’ll work in all market types. A trend-following system will fail in a continuously ranging market. A scalping strategy would go kaput in a strongly trending market, especially when caught in a wrong direction. A buy-and –hold strategy would be deadly in bear markets. The key to scaling through all these is to know the type of the market you’re trading and the type of the strategy you can use for it, or you can use a strategy that works in most (but not all) market conditions. When you’re frustrated with a trading methodology, that’s when the markets are about to become favorable to it.

More plagiarism - haven't you got an original thought; after all, you advertise as a vendor ?

All your posts have been copied and pasted from else where - mostly from:
https://www.paxforex.com/forex-blog/linda-raschke-an-amazon-of-the-wall-street

 

[kaya75]

Risk and rewards, we can loose more times then we win and still make a good end of year profit, we can win many more then we loose but record a yearly lose.. its about loosing less percentage then we win overa, noise aside if we don't have a r:r strategy nailed then that we well and truly are.. can you cope better with lots small wins and small losses, few big wins but lots of small looses, or lots of small wins and a few big losses... Forex allows us to be truly free, but with freedom mistakes and stupidity have direct consequences..

Peace and pips