My own experience in FX market Since 2003

I am in FX since 2003
I have start my first trading with gcitrading.
I lose a lot during my first 6 years trading.
but I continue and recover myself

in this topic I want share my own experience about FX market this IDEA is my own IDEA.

my ear is all yours 😄

First you should know
Market is not complex😉, your personal character is too complex😕 ! you should manage yourself in FX market not your money or your trades.

First you must know yourself, I mean your personality .

Do you know yourself?

Answer this question:

You have open position without SL/TP you know your position is wrong and your margin level is 50%
what will you do?

1- close position
2- wait maybe I will be lucky !

have you ever had same situation ?

Trader must be BRAVE

BRAVE IN TRADER MEANS:

1-Accept your lose and close your position (If you put SL don't modify your SL)
2-Believe your analyse)
3-Don't confuse yourself by collect a lot of information's! (I will explain more about this later)

why more than 90% are loser
What do you think? they can't analyse the market? 😕
should we chose one between 10 chooses ?!

We can analyse

We should chose between 2 things BUY/SELL

It mean our chance for win is 50% - brokers spread

then why we are loser ? 😲

I think I wrote enough and you know better than me

The market is not complex
The market is easy if you look it easy

The only important things for successfully is Manage your sense manage your mind manage your brain
Well this is the most important question:

How I can manage my sense in FX market?

how much have you made now with all these experiences

Josep2013 posted:
Trader must be BRAVE

BRAVE IN TRADER MEANS:

1-Accept your lose and close your position (If you put SL don't modify your SL)
2-Believe your analyse)
3-Don't confuse yourself by collect a lot of information's! (I will explain more about this later)

I would say: 'NEVER MODIFY YOUR SL', each time I did, it was really such a bad idea!

I am trading without sl in my new trading system

targetpointfx posted:
how much have you made now with all these experiences

Josep had a over 100% gain in 10 days. Now let's see how much you have gained.
We can enjoy some respect here.

Barzvar posted:
I am trading without sl in my new trading system

I am watching.

CrazyTrader posted:

Josep2013 posted:
Trader must be BRAVE

BRAVE IN TRADER MEANS:

1-Accept your lose and close your position (If you put SL don't modify your SL)
2-Believe your analyse)
3-Don't confuse yourself by collect a lot of information's! (I will explain more about this later)

I would say: 'NEVER MODIFY YOUR SL', each time I did, it was really such a bad idea!

Yes maybe you right but not for beginners my advice is for beginners not pro

some time when you increase your SL it will help you to earn profit again but unfortunately many traders modify their SL till CALL MARGIN ! 😲

This is very important you should accept your wrong and close your positions (look at my lose in last week)
If you modify your SL this will become a bad behavior in your trade and IT's not good
When you put SL you should trust your analyse and chance some time market want touch your SL only ! It's not important you will learn to put better SL in the next trade

Barzvar posted:
I am trading without sl in my new trading system

I have not SL in many trades
But I know when I should close my positions in lose

If you know this SL is not important but If you want open your positions for long time and wait till it back to profit
it's very very dangerous trade behavior

Emo2010 posted:

targetpointfx posted:
how much have you made now with all these experiences

Josep had a over 100% gain in 10 days. Now let's see how much you have gained.
We can enjoy some respect here.

Total Investment in my system is 600,000$ now you can calculate gain better ;)

I wrote : -Don't confuse yourself by collect a lot of information's! (I will explain more about this later)

What dose it mean?

come back in your memory

When you didn't know many technical parameters you had better traders can you remember ?

some traders want to learn all technical rules all fundamental rules they wan't know all news about economy and ............😕

This is good just for teachers not traders !

what do you want ? do you want to be a Forex teacher? would you like to be an expert in economic news paper or financial TV??

OR

YOU WANT TO BE A GOOD TRADER ?

TRADER SHOULD LOOK MARKET EASY

some time I see many traders put a lot of indicators and line collect a lot of news every day and at least they open wrong position !
What are you doing ? 🙄

Fibonacci Gan Elliot wave pattern , support resistance channel oooooooooooooooooow !
Moving/ RSI/ PSAR/ .................................!!

check market in M1 M2 M5 M10 H1 D1 wooooooooooooo !

Some time they think they are professional analyst but they are crazy analyst .😝
what are you doing with your brain ?

would you like your brain to analyse like a machine ? like your PC CPU?!

well try to write EA's that's better IDEA

a lot of information's a lot of indicators a lot of line a lot of time frames just make you crazy !

watch market chart easy and simple

your chance for win is 48-49% (just because of spread)

trade by chance with a simple coin and check what will happen !

in 13th line I wrote wrong : ............ day and at last they open wrong position ! is correct

This topic is one of the Best topics in myfxbook . thank you

Advice:

1- You are not force to trade
2- You should enjoy your life then when you earned profit withdraw it and enjoy a week or more 😉
3- Trade should be your second job (Very Very Important)
4- Don't trade like a robot ! you are not EA ! you are mankind you need rest love food and game sport fun and etc.

If you trade all days you will be addicted