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
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
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.
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:
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
Does anyone consistently make a profit trading forex?
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.
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.
In this game you will loose at times but the key thing is win more lose less..
can you do that?:idea:
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
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.