This thread pique my interest, I just checked my own account bio and found that I have been trading for 10 years. I wouldn't say I'm profitable nor successful now. But I'm living quite a comfortable life with forex trading as my side income 『Which sometimes it will exceed my main』
Just try not to be emotional and accept the loss and you will be fine.
trade about 15 years ... with good results only in last 8 years ..
first 7 years with no great result ...
99,9% lose or have no result .. or about 0-2% month if take total years.
and only 0,1% can get 5% month or more with small stable DD no more than 8-10%. I talk about 5-7-10 years of stable trading.
20% of this 0,1% .. about 20% may be smaller have stable profitable robots ...
so in total it about 0,02% ... - of course if someone really have profitable robot he NEVER sell that.
this is reality of market ... very very small percent of people can trade stable in profit many years, more than 50% of success trading is in psychology ... if you have profitable manual system it not mean than you get profit if you can't control yourself ... main enemy is not market or crowd of bulls or bears ... main enemy, main 'dragon' is inside yourself ... if you can control this dragon - you control the market.
Those are very large lots you are trading. wow. You must be wealthy i cant wait to trade such lots in the future on live accounts.
Rblackmuir posted: Three years tarding and Two years in profit now once i stuck to a system and focused on what pairs or indices i liked and learned, earning nicely from £3000 account that all you need if you are consistent ! every month i bank my profits and start again ! and having a daily target helps to once thats hit i close my laptop down ! and wait til next day .... Psycology is everything .....!
That is very good and encouraging to hear £3000 seems like an account size that could potentially generate anything from £150 to £600 monthly (if assuming a 5-20% growth target each month). Obviously that would also depend on your risk appetite as well. What do you when trades do not go your way? Do you continue to aim for your daily target or is there also a maximum loss that you are willing to accept? Peace, love and PIPs
I've been a student to forex for about 10 years and like us all lost and gained many times. Mostly losses, until about five years ago but still never jumped in 100% until this year. I finally dedicated myself ( mainly due to the shut down we had in USA) I so wish I jumped in 100% 5 years ago. But hey better late than never at all.
12 years but from one bank or institutions to another, I don't accept contract more than a year and i always like the clause that allows me freedom to trade do third parties, although I'm not allow to display statements and that will lead to contract termination and breach of trust with heavy fines.
I have been trading since the COV-19 hit (after I lost my painting business) for 6 months on a demo - out of which profitably for the past 10 weeks straight (10% target per week - smashed it every week). I gotta say, it`s not the same with real money - first trade I bought a bearish engulfing right after it formed - that`s how nervous I was. Luckily it turned out to be BE trade with miniscule profit after coming all the way down to 2 points from my SL. I`m strict when talking about risk management - strictly no more than 1% Risk, managing Reward as per price action - but aiming for at least 2:1 reward to risk ratio before placing the order. I had a great trade on GBPJPY on Wednesday (5:1) and extra few good ones (3:1s and 2:1s) throughout the week. I have been very jittery though - missing opportunities left, right and centre. But, I`m trying to focus on the positive rather than negative. Life is great - hit my target this week with zero negative days, learning more as I go. Plus, I genuinely enjoy sitting in front of the charts and observing price action - and when I am not trading with real money, I am paper trading in my head.
I am up close to 14% for the first week. I`ve never been happier. But, I need a mentor - with my increasing understanding I realise how very little I know ... Is there anyone amongst you with a lot of patience and experience willing to teach me how to become an ICBM?
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