Please help me, what's wrong with my trade?

May 24, 2012 at 11:39
2,914 Views
22 Replies
Member Since May 22, 2012   6 posts
May 24, 2012 at 11:39
Hello all, i'm new here. i'm new with trading, and i have so many loss. what's wrong with my trading? please help me.
Member Since Nov 02, 2009   67 posts
May 24, 2012 at 15:42
It's ok to have losses as long as your wins make up for the losses. Can you describe your strategy? Maybe I can help.
forexboy
forex_trader_2934
Member Since Nov 11, 2009   22 posts
May 24, 2012 at 17:37
you have to be properly trained.. If you are having difficulty, it is that you are not reading charts correctly. Professional forex traders always know where the market is heading. For some traders it takes years to become successful. We spend years to develop the skill to trade
Member Since May 22, 2012   6 posts
May 24, 2012 at 20:38
I'm trading using standard indicator, only bollinger band and moving average. mostly using tf 1h. I learn to trade news, looking at economic calendar. but oftenly i'm not patience waiting for the news, and trading only by feeling. for example, i think eurusd tend to bearish, and i open short (sell) position, without any consideration. i make many opened positions simultaneously (for example: eurusd, gbpusd, audusd), and then when all positions in the case of negatif pips soon i feel anxious, then i closed all negatif pips position.

Sometimes I made small amount pips, then after that i made again new open position with bigger volume, even small negatif pips make my account reduce significantly.

so, my account becomes lower day by day.

Maybe I'm overtrade?

What should I do Mr? Thank's for your attention
forexboy
forex_trader_2934
Member Since Nov 11, 2009   22 posts
May 24, 2012 at 21:14
I understand.. but you are doing everything a new trader does and you will have a very short trading career if you continue to trade this way.. You need to be professionally trained. There are many good teachers out there. I learned from very successful forex traders and I now I make a living trading forex. One area you can start is learn how to trade 'price Action' it is better than using indicators. Indicators are fine but they are lagging and frequently the move has already finished by the time an indicator tells you. News events are very tricky and you need to have a lot of experience to trade the news or follow a mentor like Henry Lui. He has a live chat where he trades the News with his students.
My best advise is find a successful mentor and follow everything he does, then you have learned all the secrets and tricks to forex and can be an independent thinker and start placing trades on your own.. For me trading forex is very easy now but I had to learn and study everyday for a few months before I was consistently profitable
forexboy
forex_trader_2934
Member Since Nov 11, 2009   22 posts
May 24, 2012 at 21:33
https://www.magic-buysell.com/ this is an easy way to get started many new traders I know are having great success with this software
Member Since May 22, 2012   6 posts
May 25, 2012 at 12:16

   forexboy posted:
   I understand.. but you are doing everything a new trader does and you will have a very short trading career if you continue to trade this way.. You need to be professionally trained. There are many good teachers out there. I learned from very successful forex traders and I now I make a living trading forex. One area you can start is learn how to trade 'price Action' it is better than using indicators. Indicators are fine but they are lagging and frequently the move has already finished by the time an indicator tells you. News events are very tricky and you need to have a lot of experience to trade the news or follow a mentor like Henry Lui. He has a live chat where he trades the News with his students.
My best advise is find a successful mentor and follow everything he does, then you have learned all the secrets and tricks to forex and can be an independent thinker and start placing trades on your own.. For me trading forex is very easy now but I had to learn and study everyday for a few months before I was consistently profitable

I really appreciate your advice, Mr. If don't mind, would you notify me where I can find mentor of 'Price Action' trading? and i'm very amazed about trade for living. I hope, someday I can achieve living trading forex too. I hope in the future I can be a competent trader, and trading easily just like you. Thank you very much for your kindness.
forexboy
forex_trader_2934
Member Since Nov 11, 2009   22 posts
May 27, 2012 at 18:22
https://www.universaltradingprofits.com/?hop=cellx99
it cost only 57 dollars for via ebook on price action.



if you want a mentor, and learn to become a professional trader, I can teach you forex for 49.00 per month or 2 year membership of 387.00
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Member Since Jan 25, 2012   13 posts
May 28, 2012 at 15:15
myforexbook, what is your profit target? It is likely that you're trying to earn too much as possible, the normal return of 30-40% per year. But if you try to earn 50% per month, your forex business has already bound to fail!
Member Since Mar 04, 2012   3 posts
May 28, 2012 at 18:12
First of all my friend dont be naiv.
Why should somebody take money to teach you when he got the holy grail?
The key in Forex is for me Moneymanagment and Risk Managment.
Look for a simple Strategy and dont look for a Strategy that work 100% you will never find it.
The Pros have loses,too.
forexboy
forex_trader_2934
Member Since Nov 11, 2009   22 posts
May 28, 2012 at 18:21
Successful traders that teach do it for the joy of helping others so they do not have to go thru the losses that is waiting for them if they do not get professional help. they have spent years refining their skills and should be compensated.
I find that traders that have had years of experience think it is easy for a newbie to just follow a few simple guidelines and they will be ok.. not so.. It is not just simple risk and money management and finding a simple strategy , Many need a lot guidance... after teaching over 1000 students over 5 years this is what I have found..
Member Since May 17, 2011   19 posts
May 29, 2012 at 08:41
Yes... following other traders gives nothing...you have to find your own strategy and method...you need to loose at the beginning to gain in future...no pain no gain ;)
Lack of patience is one of the most important reasons of forex traders failure
Member Since Jan 25, 2012   13 posts
May 29, 2012 at 10:14

   forexboy posted:
   Successful traders that teach do it for the joy of helping others so they do not have to go thru the losses that is waiting for them if they do not get professional help. they have spent years refining their skills and should be compensated.
I find that traders that have had years of experience think it is easy for a newbie to just follow a few simple guidelines and they will be ok.. not so.. It is not just simple risk and money management and finding a simple strategy , Many need a lot guidance... after teaching over 1000 students over 5 years this is what I have found..


Can you show any successful real account? I see only a demo account in your monitoring!
lkwong
forex_trader_77056
Member Since May 10, 2012   71 posts
May 30, 2012 at 06:19
Heres a free piece of advice.

The next time you look at someone's trading system, the first, and possibly one of the very few things to be looking at is equity growth.

Hint : Its the yellow line




Next piece of advice is going to cost you. :)
Member Since Jan 05, 2012   2 posts
May 30, 2012 at 06:20

   amelabs posted:
   It's ok to have losses as long as your wins make up for the losses. Can you describe your strategy? Maybe I can help.

their robot lost me money
Member Since May 17, 2011   19 posts
May 30, 2012 at 16:10
You need to trade one pair for the beginning ...its difficult to pay attention to 3-4 pairs in one time... concentrate on one pair...be patient wait until you see the correct moment to enter...start with scalping..its easier than long term trading......don't try to gain as much as you think you can... be satisfied gaining 2-3% per day...price action ,MACD ,Pivot levels and TMA will be enough to make correct enter...to many indicators will 'kill' you ;)



   forexboy posted:
   I understand.. but you are doing everything a new trader does and you will have a very short trading career if you continue to trade this way.. You need to be professionally trained. There are many good teachers out there. I learned from very successful forex traders and I now I make a living trading forex. One area you can start is learn how to trade 'price Action' it is better than using indicators. Indicators are fine but they are lagging and frequently the move has already finished by the time an indicator tells you. News events are very tricky and you need to have a lot of experience to trade the news or follow a mentor like Henry Lui. He has a live chat where he trades the News with his students.
My best advise is find a successful mentor and follow everything he does, then you have learned all the secrets and tricks to forex and can be an independent thinker and start placing trades on your own.. For me trading forex is very easy now but I had to learn and study everyday for a few months before I was consistently profitable
Lack of patience is one of the most important reasons of forex traders failure
Member Since May 07, 2012   2 posts
Jun 02, 2012 at 21:45
After 3 month start learning Forex, I have some conclusion :
- Forex is : probability ( winning trade vs loosing trade), so you have to minimize your loosing, and maximize your winning (risk vs reward ratio) --> money management
- Do not using big lot that you can't handle, because this make you fear of loosing
- Not every time you can Open Trade, you have to wait.... wait for the low risk and high reward ratio probability.
- There is no holly grail, if you can't handle your self... (Fear & Greed)
- Always be Discipline!!
Knowing is not enough, we must apply - Willing is not enough, we must do"
Member Since Jan 27, 2012   10 posts
Jun 04, 2012 at 18:47
That's right,Greed is the scariest enemy for beginners 😁
I dont care about how high you pride your gain,what I seek is the safety of the account it self
Member Since Jun 05, 2012   6 posts
Jun 06, 2012 at 06:22

   e_bon posted:
   After 3 month start learning Forex, I have some conclusion :
- Forex is : probability ( winning trade vs loosing trade), so you have to minimize your loosing, and maximize your winning (risk vs reward ratio) --> money management
- Do not using big lot that you can't handle, because this make you fear of loosing
- Not every time you can Open Trade, you have to wait.... wait for the low risk and high reward ratio probability.
- There is no holly grail, if you can't handle your self... (Fear & Greed)
- Always be Discipline!!

 Very, very right told!!!!
Member Since May 22, 2012   6 posts
Jun 06, 2012 at 09:46
What is the best pair to trade?
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