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Market is Rigged!
Aug 13, 2015 at 10:36
Ive been trading 4 years now, first 2 I blamed the market, it seemed as soon as I placed an order it went against me, so I compensate... which turned into over-compensated... which turned to bust.
Year 3 I gathered what I learned, changed my strategy, I started making profit, quite a lot of profit, got cocky, over traded and went bust again a few times.
This year I went back and looked at what I did wrong, now I'm in slow recovery. I'm not aiming for millions or even thousands, I'm just looking to get a steady return to make back what I lost and not chase it... and so far it's working out pretty well.
Unless you are a swing trader (trade maybe one or two trades a day at most on daily charts), charts are useless, leave them alone, you wasting your time.
Unless you are an institutional trader with a pre-news feed, leave news, you wasting your time. By the time you react to news, the market has already moved, you've missed it.
So what to do then you ask? trade price action, that's what I'm doing. I can sleep at night knowing that regardless of any news it is 'practically impossible' for me to go bust. I trade 19 pairs at a time (hedging), No order is added if a pair is negative 2% of free margin (manage risk). At the end of every month I look at negative orders with a very slim chance of recovery and close them, making sure I don't close out more than the profit I made the month.
Sounds like you are under 2 years trading, if so, relax, breathe, take your time, in your 3rd year you start getting "aha!" moments as you learn. If you have this mindset of becoming a millionaire overnight, I have news for you, it's not going to happen overnight, or in the next 5 years, or even in the next 10 years, hell, you may never become a millionaire trading. The sooner you realize that, the better trader you will become.
"How do you make a million dollars trading forex?" - "start with $2 million"
Traders manage risk, rookies manage trades.
Best of luck.
Year 3 I gathered what I learned, changed my strategy, I started making profit, quite a lot of profit, got cocky, over traded and went bust again a few times.
This year I went back and looked at what I did wrong, now I'm in slow recovery. I'm not aiming for millions or even thousands, I'm just looking to get a steady return to make back what I lost and not chase it... and so far it's working out pretty well.
Unless you are a swing trader (trade maybe one or two trades a day at most on daily charts), charts are useless, leave them alone, you wasting your time.
Unless you are an institutional trader with a pre-news feed, leave news, you wasting your time. By the time you react to news, the market has already moved, you've missed it.
So what to do then you ask? trade price action, that's what I'm doing. I can sleep at night knowing that regardless of any news it is 'practically impossible' for me to go bust. I trade 19 pairs at a time (hedging), No order is added if a pair is negative 2% of free margin (manage risk). At the end of every month I look at negative orders with a very slim chance of recovery and close them, making sure I don't close out more than the profit I made the month.
Sounds like you are under 2 years trading, if so, relax, breathe, take your time, in your 3rd year you start getting "aha!" moments as you learn. If you have this mindset of becoming a millionaire overnight, I have news for you, it's not going to happen overnight, or in the next 5 years, or even in the next 10 years, hell, you may never become a millionaire trading. The sooner you realize that, the better trader you will become.
"How do you make a million dollars trading forex?" - "start with $2 million"
Traders manage risk, rookies manage trades.
Best of luck.
For every loss there should be at least an equal and opposite profit.
Member Since Jun 18, 2015
12 posts
Aug 13, 2015 at 12:51
Mampamm system is really good since it works both in trends and consolidations. Even if the market reverses for a short while
forex_trader_169700
Member Since Dec 30, 2013
163 posts
Aug 14, 2015 at 13:56
forex_trader_169700
Member Since Dec 30, 2013
163 posts
Aug 18, 2015 at 12:12
Dodgy goings on in USDCAD this morning - Wonder why!!! Yesterday I was long this before Doji appeared on daily chart!!!!
forex_trader_169700
Member Since Dec 30, 2013
163 posts
Aug 18, 2015 at 12:13
Would be nice to see a level playing field, sick of these dirty stop outs!!!
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