What motivates you the most to keep trading Forex even losing masivly

Guys

i understand forex trading has been available for years and to be honest ,i think there is small chance to actually make money,

i see several people making money , but also most of people lost money, what motivates you the most to keep trading Forex ?

The forex market is by far the most exciting and exhilarating project/thing I have done. The fact that it can offer financial freedom (and Im not talking about getting rich quick) is motivation enough for me.

And the fact that only a few are successful at it makes me want to pursue it even more, so that when I am successful the bragging rights will be ohhh soooo goood.

you are right, it's not simple and some gain and some loss money. To become a winner you need to invest time, effort and money for several months to understand how you can gain specially about your sentiment on the market

Trading has brought me loads of skills such as objectivity, making decisions despite uncertainty, consistence, discipline, the control of emotions and adaptability. It took me 2.5 years to start to see the slope to invert and start to see money coming in. Some will take longer, some will take shorter. I did not go through an easy period so I am even convinced I could do it shorter. What saved me and enabled me to keep going even during lossing period is my manoey management. Yes I have lost more than 65% at a certain period of time but I never wiped out an account thanks to my 1% per risk trade.

The difficulty in trading is that your own style is the only strategy that is going to work for you. Meaning that paying $ 3000 will probably not be your path to financial freedom but create at least commitment because you want to get something from this money. What I mean by that is that you do not really have the choice to learn it by yourself and this takes longer than thinking that you can make consistent money just applying a set of rules you payed for. There is no secret, you have to analyse every trade you made, see what you could have been improved and answer will come to you.

4 trades elements:
- Direction : was I with the trend? ( 5 days later, conclude if you took the right direction)
-Entry: You I have bought lower, could I have sold higher ( buy how much pip I have been negative)
-Exit : was I right to close the trade at this point ( did the market continue in my way, or revesed against me after close)
- Stop Loss : did the market touched my SL and then went in me way, was my stop loss too short or too large

The reason because why most trader fail is because they do not do their homework. I have been part of them too. Trading is hardwork but trading is awesome.

Here is my unbreakable rules
• Capitalize
• Follow the trend
• Trade on facts, not expectations
• Plan your trade and trade your plan
• It is better to miss a move than run behind it

charlesadethib86 posted:

The difficulty in trading is that your own style is the only strategy that is going to work for you.

Well said, charlesadethib86. That's the thing with this game of forex, everyone is different, some like robots, some like scalping, some like swing trading etc etc.
Not everyone can follow a specific set of rules, everyone is different, different level of patience a different level of risk aversion and so on. You need to find what works for you and come up with your own style that is comfortable to you and makes you money.

I've been doing this thing 5 years and have never been consistently profitable on a real account but I'm still at it.

Forex is about the journey not the destination...

I have always been attracted by the idea to make money by only using my brain and a computer. I have also certain personal characteristics that lend themselves very well to this type of activity. Although I know this sounds pretentious, I know my strengths and weaknesses. My strengths are discipline, control of my emotions and a logical thinker. This is why I am not scared about the fact that 90% loose money, as I know 90% has a tough time with these characteristics. My weakness is patience. I have been able to limit the damage of that weakness by having my computers do most of the routine work, and advancing in analysis at the same time I am 'waiting' for something else. In the early days I was indeed losing money, but every business venture requires capital upfront. But let's not forget the main motivation, including that of most people in forex even if it's not admitted: the prospect of unlimited gains while keeping a high degree of personal freedom. Although one quickly learns that the word unlimited is actually quite relative if you want to keep the risks acceptable.

Making money 99% of the time, losing it ALL 1% of the time... the motivation is the challenge of eliminating the 1%.

99 kisses to 1 large slap, who wouldn't keep coming back for kisses? 😁

The difficulty in trading is that your own style is the only strategy that is going to work for you.....

I think the real difficulty in trading is to find the right TRADING THEORY whereby you can execute your trading with higher probability of winning than losing. (style and preference and discipline comes later, even if you have all these traits but a terrible trading theory, you are still doom to fail, because your theory is not full proof). Whereas, if you have research, study, analysed and tested your theory (on a demo account of course) and your theory stand the test of time, then you will trade according to your theory and hence, your style is in accordance to your belief system on how confident your theory works. Otherwise, when the trend change direction and took a sudden turn and you have no idea what to do, whether these price changes are just momentary or a change in trend, etc, then obviously, you haven't think too deeply and widely on how to develop a sound trading theory.

A sound trading theory helps to determine WHY you enter and WHY you exit based on a number of indicators you have choose that can 'capture' both long term and short term price changes, (I'm not talking just about trading plan, WHEN enter, exit, SL, et). A good trading theory is when the conditions you set for both trade entry and exit can withstand the robustness and market volatility over a period of time and still show good results or profits. And you will never know whether your theory works unless with the help of computer analysis. Unless you are going to spend over the years to wait and see. Too much time is wasted in this way.

First I input various indicators in the MT4 and analyse them over different time chart to find a consistent 'pattern' or conditions whereby over a period of time, these conditions seem to be favourable for a profitable trade. It is impossible to know whether your trading theory works, unless you have tested it over historic data. I personally use FSB Pro, a strategy builder software (it's free and extremely easy and very good to use) whereby I programme my trading conditions (why I entry) and the system is able to give me immediate feedback based on historic data whether my theory works or not. I don't need to know any computer programming knowledge to develop my EA, this software does it all. I just need to be clear with my theory concept, which of course you can through trial and errors find a profitable one. https://forexsb.com/index.php


Once you have found a profitable trading theory, it is letting your EA do the job. No more worries about trading style anymore. Because it is all settled in the development stage of your EA, (i.e. SL, TP, BE, Trailing etc, money management). No more emotional upheaval, no more hedging because your are paralyzed by the unknown; not knowing which direction to go and hence you hedge out of fear and safety and lost the opportunities to rid the next wave and stuck in your old trade instead of making new ones.

So what keeps me going despite all these years of testing and trying...because I believe there bound to be a trading formula, theory out there for me to discover. Because over the years, I kept seeing my EA performing better and better over the years as I twitch and change different indicators and the parameters to improve the overall profits.

fxdimarion posted:
The forex market is by far the most exciting and exhilarating project/thing I have done. The fact that it can offer financial freedom (and Im not talking about getting rich quick) is motivation enough for me.

And the fact that only a few are successful at it makes me want to pursue it even more, so that when I am successful the bragging rights will be ohhh soooo goood.

good point, i just started the demo ,it makes my heart up and down , i saw many brokers commercials are related with racing cars.

although i am not fond of real racing car

The difficulty in trading is that your own style is the only strategy that is going to work for you.

This should be printed with golden letters on top of every trading desk.

systemafx posted:
you are right, it's not simple and some gain and some loss money. To become a winner you need to invest time, effort and money for several months to understand how you can gain specially about your sentiment on the market

i see it needs vast time investment, hopefully , it will be worth paying eventually . i am spending 12-14 hours a day to find better tactic and read as much as possible .

xgavinc posted:
Making money 99% of the time, losing it ALL 1% of the time... the motivation is the challenge of eliminating the 1%.

99 kisses to 1 large slap, who wouldn't keep coming back for kisses? 😁

😀

thevalerka posted:

The difficulty in trading is that your own style is the only strategy that is going to work for you.

This should be printed with golden letters on top of every trading desk.

Happy you enjoyed it. I ll keep this sentence for my next cover letter 😄

RaphaelGK posted:
Guys

i understand forex trading has been available for years and to be honest ,i think there is small chance to actually make money,

i see several people making money , but also most of people lost money, what motivates you the most to keep trading Forex ?

@RaphaelGK
Hello,
I think our motivation is to make money.
We learn from this mistake is when detonated an account.
Here are some links where you can see that you can make money on the medium and long-time

https://www.myfxbook.com/members/HIROO59/hiroo59-icmarkets-reel-risk-marge/1068060

https://www.myfxbook.com/members/finbou/ma-503718-finbou-icmarkets-true/1073282

RaphaelGK posted:
Guys

i understand forex trading has been available for years and to be honest ,i think there is small chance to actually make money,

i see several people making money , but also most of people lost money, what motivates you the most to keep trading Forex ?

Honestly, I lost much funds when I started to trade. I used different EAs and traded manually but I lost a lot of funds.
Why haven't I stopped? Because I am too dogged to stop learning and trading experiments. I want to thanks my parents for this character trait. Thanks to it I have my own business in whole Ukraine and I also started to trade much better(not too well, but I am still continue to work with my strategy)