Hello. I have been trading for 3.5 years now. During this time, it happened that I blew up account and started over. It turned out to get profit, of course. But I still do not have a really good and stable income. Because of that Forex became for me like an element of game or hobby. I don't feel that forex trading is hard work, but good profits. I do not feel stability in this way of earning. Have you experienced something like this?
Just please do not mention about learning fundamental analysis or deeper technical analysis. This is what I do all the time.
I would like to hear real advice from real traders. Or to hear those who are in the same position as me.
@JAM82 In trading, I use technical analysis. Fundamental is too heavy for my perception. And I do not see the point in it. And from technical analysis I use indicators and the overall picture of the market situation. I watch the news, I read different opinions of analysts. And then on the basis of these data I build my analysis.
@Rococo_XVII I've been trading profitably for about 12 years now. I'm a news trader. early days were spent experimenting with things to reduce latency with mt4 orders like straddle trades otherwise you get slipped on the spike. then realised that a great number of brokers wouldn't allow straddle trades to be open like that before a news release (or at all in some cases). Spent a lot of time finding a source of news data fast enough to make it worth doing. Quickly realised that a lot of brokers' mt4 servers are setup to slip hard. built in lots of resilience to kill orders fast in emergencies. worked with data centres to ensure lowest rtt for broker comms....etc...etc Net outcome is a very resilient, low dd, good returns system. lots of automated risk management. constant improvement on failures. long-term learning of how each trade behaves and therefore how to set up the triggers. happy to discuss this further. depends what you're interested in really
Hi @B1FXprof Have you been trading on the news since the very beginning? If we talked about me, I tried to trade on news. But it just so happened that I lost a lot. You are right that there are really strong slippages, so I changed a broker. But I do not risk to trade on the news anymore. How did you build your system? Do you have an adviser now?
Hi @Rococo_XVII Yes always news. The system I use was entirely developed around the fact that news releases are a measurable event with known timing and historical data to work off. it's a failure model....so over the years there's had to be some emergencies in order to be able to build in resilience against what was previously unknown. the outcome is a LOT (excuse the pun) of built in risk management. Keeps drawdown very low and RR high. brokers are an ongoing issue which takes a lot of time and effort. they're not there to pay out as you no doubt realise.
@Rococo_XVII I change regularly, generally once I can see accounts have been flagged. I have access to current performance data on hundreds of brokers with multiple accounts at each. MT4/MT5 and cTrader (fix API)
WhiteWitcher posted: Oh my strategy based on technical analysis with Japanese candles and MA indicators. I have medium-term trading on the most popular currency pairs. On average, my profitability per month is 4%.
Wow. Good income. What about drawdown? I would also be interested to hear about this.