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HOW MANY TIMES BLOWING UP ACCOUNT BEFORE GIVING UP
Dec 12, 2019 at 15:20
Anggota Sejak Dec 11, 2019
1 pos
Hello, Ive been trading for a couple of years, Ive done my homework, develope a consistent demo account strategy, and for some reason when I go live, I start making money, something happens and end up losing my account, its all in my head, would there be a time, when i stop making mistakes?
Anggota Sejak Jan 05, 2016
1189 pos
Dec 12, 2019 at 22:39
Anggota Sejak Jan 05, 2016
1189 pos
esierra77 posted:
Hello, Ive been trading for a couple of years, Ive done my homework, develope a consistent demo account strategy, and for some reason when I go live, I start making money, something happens and end up losing my account, its all in my head, would there be a time, when i stop making mistakes?
Focus on RISK MANAGEMENT as your #1 priority. Everything else is secondary to risk management.
The difference between a profitable trader and a losing trader is RISK MANAGEMENT.
If it looks too good to be true, it's probably a scam! Let the buyer beware.
Anggota Sejak Dec 01, 2019
1 pos
Anggota Sejak Feb 19, 2019
2 pos
Dec 12, 2019 at 23:29
Anggota Sejak Feb 19, 2019
2 pos
Mistakes happen, so we got to manage the risk of every trade carefully.
I also include an extra safety net that if I had 3 losing trades in a row, I take a 20 min break from the screens. Return and reduce position/trade size on next trade to smallest position size and follow this for a number of further trades till I feel confident I am consistent and disciplined enough to increase risk and trade as before.
I also include an extra safety net that if I had 3 losing trades in a row, I take a 20 min break from the screens. Return and reduce position/trade size on next trade to smallest position size and follow this for a number of further trades till I feel confident I am consistent and disciplined enough to increase risk and trade as before.
Everyone shines, they just need the right lighting
Anggota Sejak Feb 06, 2019
2 pos
Dec 13, 2019 at 02:54
(diedit Dec 13, 2019 at 02:55)
Anggota Sejak Feb 06, 2019
2 pos
I tried trading 5/15/30 minute charts. Could never get consistent profits. Now I trade 2 hour, 4 hour and daily charts. Start with a smaller lot size, set a trailing stop that has room to breathe and let the trade run. You can also add to the trade as it becomes profitable. For instance, if you opened with a 0.5 lot size and you become profitable, add a 0.1 lot size. You do not want to add anything larger as a retracement could easily eat at your profits and force you out of the trade.
Years ago I realized my biggest problem was my being extremely impatient. I would close trades when I had a small loss or small profit and then see them take off a few days later. This is with stocks and forex. Now I try to look at the bigger picture. Kind of a 'set it and forget it' mindset. Works for me.
MY FAVORITE TRADING QUOTE
“After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight!”
Jesse Livermore
Years ago I realized my biggest problem was my being extremely impatient. I would close trades when I had a small loss or small profit and then see them take off a few days later. This is with stocks and forex. Now I try to look at the bigger picture. Kind of a 'set it and forget it' mindset. Works for me.
MY FAVORITE TRADING QUOTE
“After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight!”
Jesse Livermore
Anggota Sejak Dec 09, 2019
60 pos
Dec 21, 2019 at 09:39
Anggota Sejak Dec 09, 2019
60 pos
You have to be very specific about this “something happens”. It could be anything, would be a big help if you explain what was it?
And someone is right - you gotta start looking into risk management and learn how to manage your assets. It helps to reduce and control the loss.
And someone is right - you gotta start looking into risk management and learn how to manage your assets. It helps to reduce and control the loss.
Anggota Sejak Aug 27, 2017
994 pos
Dec 21, 2019 at 19:49
Anggota Sejak Nov 24, 2019
1 pos
I never was any good with demo accounts. Once I started to trade with real money everything changed. I took my trading seriously and was not afraid to make mistakes. It took me less than two years to become a fulltime trader. I will never use a demo account again. All my accounts, even if I'm trying out a new system use my own money. It forces me to focus on making the perfect trade every time.
forex_trader_688163
Anggota Sejak Feb 28, 2019
140 pos
Dec 24, 2019 at 01:19
Anggota Sejak Feb 28, 2019
140 pos
I agreed with @Professional4X
Put RISK MANAGEMENT as your priority and ACCEPT LOSSES.
Put RISK MANAGEMENT as your priority and ACCEPT LOSSES.
Dec 24, 2019 at 12:19
Anggota Sejak Oct 19, 2019
38 pos
gpdno posted:
I never was any good with demo accounts. Once I started to trade with real money everything changed. I took my trading seriously and was not afraid to make mistakes. It took me less than two years to become a fulltime trader. I will never use a demo account again. All my accounts, even if I'm trying out a new system use my own money. It forces me to focus on making the perfect trade every time.
Well yes, the experience is different when you use your real funds, but that does not lessen the value of a demo account. One can not start trading without a demo acc I feel. Plus thats the best way to back test your strategies.
Dec 24, 2019 at 22:22
Anggota Sejak Jun 20, 2014
41 pos
esierra77 posted:
Hello, Ive been trading for a couple of years, Ive done my homework, develope a consistent demo account strategy, and for some reason when I go live, I start making money, something happens and end up losing my account, its all in my head, would there be a time, when i stop making mistakes?
A proverb you should know was ' Failure is the mother of success ' . Learning from your mistakes is the most important lesson in order to succeed .
Dec 31, 2019 at 10:13
Anggota Sejak Oct 19, 2019
21 pos
TNguyen posted:Couldn’t agree more, this proverb is just right. I also think that nobody can achieve success until one knows how to use failure to one’s benefit. Giving up is no solution here for sure.
A proverb you should know was ' Failure is the mother of success ' . Learning from your mistakes is the most important lesson in order to succeed .
Jan 02, 2020 at 13:32
Anggota Sejak Apr 18, 2017
718 pos
TNguyen posted:esierra77 posted:
Hello, Ive been trading for a couple of years, Ive done my homework, develope a consistent demo account strategy, and for some reason when I go live, I start making money, something happens and end up losing my account, its all in my head, would there be a time, when i stop making mistakes?
A proverb you should know was ' Failure is the mother of success ' . Learning from your mistakes is the most important lesson in order to succeed .
I am sure, if a new trader tries his demo with full of determination & dedication, definitely he’ll be able to make consistent money in live! Forex is challenging but not impossible!
Jan 24, 2020 at 20:51
Anggota Sejak Dec 28, 2019
18 pos
You probably need to start to control himself on so many matters. And that way after some wins you will make a rest and will not blow the rest of money on totally useless things for example. What will you say about it? Sounds good, as for me - yes.
Anggota Sejak Feb 06, 2019
2 pos
Apr 25, 2020 at 14:16
Anggota Sejak Dec 06, 2019
19 pos
Not that many if you do asked me, I am quite new and waiting for such thing like your voice here, so probably like 2 times I made min deposit and still was never able to make any profit absolutely and entirely anyway. I am waiting for some more things, because 2 times is very low anyway.
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