Hi All
I started trading 4 years back and blown up my account many times. signed with many traders, studied a lot about different sites, Forex factory, Babypips, Investing, actionforex and all, but can not control over my instinct. I go 500% profit in a week. then go down blowing up my account…
Tried few Ea’s too, Even recently One time Binary Option.
Really wonder to quit or continue.
Suggestion please
Forex is not get rich quick scheme. You have to be displained and follow your strategy rules on every trade.
Also never risk more than 1% of your account on any trade. It will take time to build your account but eventually over time your account will start generating higher profits due to compound interest.
Also following EA and robots will not make you succesful trader as you won’t learn anything. If these robts/EAs were so successful then they wouldn’t be selling these for few hundred dolloars and instead using these to turn their accounts in to Millions, billions and Trillions.
Key is discipline and follow your strategy rules on every trade you place.
I agree with some of the points of saads90, but i would not tell you to never risk more than 1%. That would mean to not utilize your capital and not take advantage of an opportunity when it presents itself. Also, 500% on what? ROI or ROE? 500% ROI is easy if you use high leverage, so don’t get carried away by that. Discipline, patience and an alert mind.
Woah, your forum post title caught my attention! Don’t you worry, most forex traders have been at that point where they questioned whether forex trading could really work for them or not. I suggest that you keep your trading strategy simple, make sure you practice proper risk management, and take control over your emotions or instincts. Remember that forex isn’t a get rich quick scheme and that you should focus on the process first rather than the profits.
Thanks for suggestions, tell you the truth, I have read all these before, can you suggest me some strategy to go along and stay in forex.
Thanks
I am lacking a good strategy to follow.
I haven’t adopted one, please advice
Thanks for support aggressive trading.
I know I cant be conservative.
This is a very personal thing. You probably know a number of strategies.
My best advise is K.I.S.S. (Keep It Stupidly Simple)…simple MA crossovers is the simplest i can think of. Just work on the right parameter for the right chart and time frame and then stick to it.
The difficulty is sometimes not selecting a strategy, but the discipline to stick to one.
Same location 
Your absolutely right,
I know number of strategy but failing to adopt one, reason behind this may be to stick to it. Different situation some other things looks great. May be need to more concentrate and select strategy as per currency pair.
Binary is a good option , I tried it many times , and I like it , BTW you can follow the same strategies in binary , but it has different way of trading
Looking for strategy to follow for intraday trades…
please advice
Thanks Obgobo
I tried once with 250$ lost within days ;(