To give up or continue

Thank you all very much. I will keep going.
Yes only 4 months I have a very high iq. My brain is about
The only thing that works properly haha.

I get my reports from mql5 it’s so easy to setup up through mt4.
If anyone is interested i follow trends on the 1h entering after a correction on an engulfing candle only
With no wick or shadow with a rr of 2.1 I also only risk 0.5% per trade

Providing you keep your core template nice & clean & resist contaminating it with any more irrelevant junk & perhaps consider introducing one or two more entry set ups based around your trending preference, then you shouldn’t come to too much harm.

Don’t whatever you do get dragged into loading anything onto your chart station.
Start as you mean to go on.

The round numbers/big figures & the ability to decipher a clear, obvious trending cycle of higher highs/higher lows & lower highs/lower lows will serve you well going forward, especially on that timeframe, which offers you at least 6-8 weeks of price history allowing you sufficient time to spot developing & continuation trending momentum.

Compass set, eyes forward, boots laced!

15%is gd some don’t even hit 10%

Looks like your off to a good start. Keep up the good work and never give up.

Best of luck to you

Wow OK thanks for the advice I have another account with a different strategy the is +45% in 4 weeks




Thanks for all the advice guys and gals you have given me faith in my strategies.
I just didn’t know if the gain was good compared to win rate.
I have pulled apart my results. With big headache I might add it seems to me
The best reward to risk here is 2.1

Thanks again

At first it’s hard. Try switching your trading strategy, change the indicators and things like that.

4 weeks is not enough to judge your trading result! Practice more and more! Just one thing, I see you opened 37 trades in the last week of your trading! It’s a huge number, please concentrate on your entry’s quality!

It’s OK I have been testing in total of 4 months. I have had nothing but success on multiple demos. With set and forget. Opened a live account followed plan to the letter and lost it all so now I’m mega poor lol. Hey 32 years without a holiday why break a habit hahahaha

I did everything I was doing on my demo then after every trade lost I looked further into the broker and it’s a dealing desk operation which I don’t trust at all…

Always look to optimize your ttrading. myfxbook has great tools for these - eg. do you make heavy losses on Mondays? If you do, don’t trade then. Do you make most of your losses during the morning when you’re in a rush? If you do, then don’t trade in the morning. This goes for everything including the symbols you trade, whether you’re buying or selling, etc.

So keep optimizing your approach and don’t give up!

and personally, i would recommend opening a small live account instead of a demo account. You will learn a lot more from the emotional intensity of a $1,000 account compared to a $1,000,000 demo account.

I agree with the previous posts. You should not give up. Keep practicing on demo, 4 months is a quite short period, 6 months is the minimum, year, year and a half is more acceptable as you need to make it a routine. You will see that the more time passes, the better you’ll become and things will get much clearer in your head. Remember - less is more. Focus on the quality of your trades and not the quantity, keep it simple and try to find a broker with no dealing desk and good regulations. Otherwise, you will not have any success if you are using market maker, we all know what these guys do.

It’s interesting that it worked on Demo and not on a live account.

What sort of margins are you working with, for example does the slippage of one or two pips make a world of difference, which of course can be the case with a tight margin approach?

I’m just curious what the main difference was, in your opinion, and how a potential dealing desk operation caused these discrepancies?

Guaranteeing a stop loss is a sure sign that you are dealing with a broker who IS a Market Maker where your own best interest may not be put first. Market Makers are something that we retail traders try to collectively avoid, and for good reasons too. Over the past number of years even brokers have moved away from the ‘market maker’ business model as it’s becoming common knowledge that it’s not what the retail market is looking for.

On a side note though, in the real world of trading there is no such thing as a guaranteed Stop Loss. This is something we all have to live with and is one of the risks that is outside of a traders control. Chances are, also, that you’re paying inflated spread for the luxury of a guaranteed Stop Loss with the ultimate disadvantage of price data being manipulated for the benefit of the Market Maker broker.

See, they win on both counts…

I think my problem is I clearly have no idea what I’m doing lol

Haha, as I’m sure is the feeling with a lot of other traders :wink:

It does get easier, as soon as you progress past the steep learning curve, I promise.

point taken :slight_smile:

Forex business is very risky business many people quit trading just because they don’t have proper knowledge and experience so first and foremost step is to learn more and more in demo account and then switch to live account so that we can survive the risky market.

Hello Sparxy! Please, don’t lose your hope too early! Not only you, but also all of new traders start theur trading career with the same result that you made! By the way, tell me about your learning process! Didn’t you complete BabyPips School already?

It is your choice to Give up or not. If you failed so many times then you should start with fresh learning. Take a break and start with education than coming back with a good mood of trading.