Your most successful trade

What was it and what did you do?
P.S. I didn’t ask how much because that’d be rude but you can tell me if you want to hehe.

Ericdier752 posted:
I haven’t had much luck with my trades and I’m trying to work hard and improve my trades.I’ve opened some demo accounts recently so let’s see where that goes. Any tips would be great, thanks!

I think you should focus on the methodology and determine the entry and exit points carefully. Set a trading goal and do everything you can to achieve it. You can use some strategies, indicators and other tools as you go. Another thing is to be able to calculate your expectancy and this will help you figure out how reliable your system is and can be. Good luck.

Adamgylicrist posted:
I don’t know if I can call it the ‘most successful’ trade but it was somewhat close so I can consider it a success. I made some decent returns on EUR/GBP and since the price moved in my favor, I call it a win-win.

Was it the biggest win you've made till date?

Mikehussey posted:

Ericdier752 posted:
I haven’t had much luck with my trades and I’m trying to work hard and improve my trades.I’ve opened some demo accounts recently so let’s see where that goes. Any tips would be great, thanks!

I think you should focus on the methodology and determine the entry and exit points carefully. Set a trading goal and do everything you can to achieve it. You can use some strategies, indicators and other tools as you go. Another thing is to be able to calculate your expectancy and this will help you figure out how reliable your system is and can be. Good luck.

Add weekly analysis to this maybe. I usually study charts on the weekends when the markets close to follow any pattern or news update that might affect my trades. I mean that’s how I do it.

I did try some strategies but there hasn’t been a consistency in profits. I think it takes a lot of time to get constant results in forex. Wondering if I should start with scalping for making fast returns. Thoughts?

verahopkins posted:
My most successful trade has to be the one in which I made 24.3% profits. There has not been any other trade where I made such nice profits.

What currency?

First, you need to apply the trading mentality in the right way. Then you have to manage the discipline and plan and enter the trade.

AliaDare posted:
First, you need to apply the trading mentality in the right way. Then you have to manage the discipline and plan and enter the trade.

That's right, following the right kind of plan and sequence is quite important if one wishes to succeed here.

One of the most profitable trades I’ve had is with EUR/USD and I believe I made a very good use of price action which happens to be my go-to strategy. Been working on taking up another one soon. Any broker suggestions would be great.

Harshalgibbs posted:
That is right Adam, and it is exactly how low risking traders should work. There’s no harm in wanting to trade safely.

Even my approach is also the same. I like to trade safely.

Bladiminmunro posted:
One of the most profitable trades I’ve had is with EUR/USD and I believe I made a very good use of price action which happens to be my go-to strategy. Been working on taking up another one soon. Any broker suggestions would be great.

I think you should go with a low commission broker that is willing to offer tight spreads. Do check how good the customer service is. Makes a lot of difference, if you ask me.

Martingupttil posted:

Bladiminmunro posted:
One of the most profitable trades I’ve had is with EUR/USD and I believe I made a very good use of price action which happens to be my go-to strategy. Been working on taking up another one soon. Any broker suggestions would be great.

I think you should go with a low commission broker that is willing to offer tight spreads. Do check how good the customer service is. Makes a lot of difference, if you ask me.

Oh yes, I got stuck with a broker who was very kind and helpful throughout the account opening procedure but had a terrible after-sales support team.

Swing on USD/JPY for a 1:30 RR roughly .
Tight SL increases you RR but will close you out of other correct analyses

If you want to earn something good from trading, you must develop skills. If there is a deficit in skills development, it is never possible to earn something good from trading.

Harshalgibbs posted:

Bladiminmunro posted:
One of the most profitable trades I’ve had is with EUR/USD and I believe I made a very good use of price action which happens to be my go-to strategy. Been working on taking up another one soon. Any broker suggestions would be great.

You can either stick with one broker that has everything you need or you can use different accounts and platforms. I remember starting out with some demos with CMC markets before shifting to their live account. Now, I have some additional accounts with XM, Alpari, Fxview, etc. but before each one of them, I first invested a few hundreds and after being thorough with their interface, increased my capital investment.

I started out trading with 3 different brokers to try fish out the different platforms and test out my strategies. Guess what? I’m still trading with them after years and it works out pretty well.

Adamgylicrist posted:

Joz8 posted:

Adamgylicrist posted:
I don’t know if I can call it the ‘most successful’ trade but it was somewhat close so I can consider it a success. I made some decent returns on EUR/GBP and since the price moved in my favor, I call it a win-win.

Was it the biggest win you've made till date?

I can’t say this was the biggest win but yes, it was the most profitable return I’ve seen in a while. I’m glad I went with Ig and Fxview and got faster withdrawals on my trade.

How long exactly does it take to get your money withdrawn from your broker? Mine took 7 days. Since it’s my first time withdrawing, I wanted to confirm the tenure.

AliaDare posted:
First, you need to apply the trading mentality in the right way. Then you have to manage the discipline and plan and enter the trade.

Isn’t that the most difficult thing to do here? Be disciplined :)

forextrader777 posted:
Till now, my most successful trade is the one in which I made 14.2% profit.
Hope, I will get to earn more profits soon.

Good luck to you mate!

Jungle78 posted:
Swing on USD/JPY for a 1:30 RR roughly .
Tight SL increases you RR but will close you out of other correct analyses

You mean SL close to entry?