We use a stop loss for a reason, s/l should indicate a level where the trade is no longer valid. If you use support/resistance levels a indications and your stop loss is beyond that level, make sure you have used proper money management so the level of resistance is not a mental threat, over trading accounts cause much mental anguish and make traders deviate from their plans…jmo
I could care less of your welfare! And if you would have pasted the other half of my post I said that you sound like you were using a proven strategy. I was bouncing ideas around ,but I now not to respond to anything you write as you have all the knowledge… Enjoy your trading…
You will note that your “other half” of your post was actually added in your edit [U][I]after [/I][/U]I replied - a handy technique!
Over sensitivity is not a good trait in trading - you may find it helpful to deal with that. I was simply answering the OP about what difficulties I have - I am not sure why that should raise such agitation in you - sorry to have upset you.
In 2004 there were no proven strategies available, the forex had just become available to trade for non institutional traders. The company I got involved with was a scam operation, so losing $1300. Was a cheap lesson compared to what most lost. But, I’m glad that you are interested enough in me to search my previous posts…again…good luck in your trading endeavors.
It was posted as you were posting I see that…nothing " handy" about it…
My apologies to the OP for the direction this went…
Yes, I [I]am [/I]interested in your posts. As I said, I am really interested in everything about trading. And if someone is kind enough to respond to my posts then I always want to find out who they are and what else they may have had to say that may be of interest/use to me as well. I soak it all in!
Actually, trading for non-institutionals [I]was [/I]available even before 2004, you just had to trade normal size positions! (whew!). As a very young man, I was trading a personal account in T-bond futures on the CBOT in the 1990’s when all my charts were hand-drawn and I had to physically telephone my broker every time I wanted to do something. Now THAT was a scary market! 
Maybe I should have said that making a profit is [I]no longer [/I]my main objective in trading.
But that is enough. Let others continue here…
Manxx you have 12 years experience and spending time in forex
How long it take you to find that proven profitable strategy , since when you start growing your acc
Markaria, this is getting a little too deep for me. I am actually an intensely private person about my own trading, but I have been trading a lot longer than 12 years. My only interest in being on this site is to perhaps help others with their own development based on my own experience.
I have been a personal trader for many years and also 5 years in a commercial bank dealing room responsible for the bank’s foreign currency loan risk including positions in futures and options. I don’t really recall a period of “growing my account”, it has always been a “2 steps forward, 1 step back” rhythm like the rhythm of the market itself 
My interest in technicals developed very early in my trading and I am sure that it is not difficult to develop a successful model. The problem is in remembering that indicators are exactly that - “indicators”. One must be able to “stand back” and see what the price is actually doing and assess whether the indicators are telling something sensible or not.
I do not want to go into my own methods but as an example here is my chart from last Friday’s EURUSD on a 15m chart . how would you have traded this?
That chart i see is awesome , must be great results , good job
Biggest challange for me when i’m starting forex.:
- I don’t know where to start and wheter i’m in the correct direction or not. this is my biggest challange.
Decide where is my first step?
What is the correct theory?
Which strategy is good for you or not.
How to analyze chart?
If you already know which and where to learn the challange will be easy. because you know what you must do first.
That’s my opinion.
You seem to be trading from a long time now
I think that those of us who started trading now or a few years ago should consider ourselves lucky. Nowadays there is so much more access to information and support than there was ten years ago and before. Whatever challenges we face, we can find answers and solutions to them. Back then it must’ve been much harder.
Being in the markets for a long time gives you experience, especially by witnessing situations you never thought were possible (stock market crash caused by a computer glitch which then transfers to Forex and makes certain pairs jump 1000+ pips in a few minutes; tsunami ravaging Japan and transferring its effects to Forex; central bank ruthless manipulation, and so on.). It makes you more vigilant long term when you know there are countless things you can’t foresee but know are possible to happen every moment (and hence you protect yourself by limiting risk).
The biggest challenge I see new traders face in their journey towards consistent low risk profits is the ability to keep things simple and real. Instead of seeking quality education and information, the majority of aspiring traders seek quantity of information. Instead of keeping the process simple, they complicate things with more tools, more rules, and a library of indicators that could fill up a daily chart on the jumbo tron at Wembley. Some new traders that I meet in the Extended Learning Track or classroom talk to me about so many trading ideas sometimes that I feel like I am the one getting the lesson and I don’t even understand it.
the market, yeah its the hardest to actually understand, to fathom a 3 trillion market, what affects whats, whats next where from here, u can absorb everything at first it was crazy… and had my share of blown accounts, untill finally i took slow with a hotforex premium account and just took it one step at time, stick to what works avoid what makes u regret alot lol.
I think this is a bit of an apples and oranges issue. I absolutely agree with you that having experience is a great advantage, so people who have traded for that long have that advantage over those who have started trading later. My point was that trading now and having all this access to information now - so we can both study and practise - is a separate advantage. I wasn’t trying to compare the two, they’re equally important but very different.
I think the biggest challenge in forex business is how to making profit with consistently, sometime very hard to keep performace trading with making quality trading with highest accurate analysis, sometime loss still inevitable, sometime leading trader being emotion after loss
Good points, Bearish.
It is an interesting subject to consider what it might [I]actually [/I]mean to earn consistent profits from forex trading. I don’t think one can think of it in terms of a steady xxxUSD per day or week or even month, for example,because both the market itself and one’s own performance/availability change continually.
If one is only accumulating capital then it is perhaps a little easier as the only requirement is to see an increasing balance over a period of time. But if one intends to earn one’s living from trading then it is a very different situation with a greater intensity of pressure for consistent performance on a continuing basis.
I guess one criteria for measuring consistent performance is to match one’s trade results against the theoretical expectancy from one’s trading system and money management. However, no matter how consistently one keeps to the system rules there are always going to be periods with excessive losers and excessive winners (if that could ever be called excessive! )
My biggest challenge in trading was obtaining control over my emotions. Its hard to keep myself calm after a row of profits or losses, you are starting to gamble if you don’t stick to money management and give way to the emotions. So after a several wipeouts I developed my own trading limitations and rules, including adequate risk evaluation of a trade. I use it in my trading with Hotforex and after 2-3 months of trading with it I noticed a consistency in my trading profits.
good points …complicated = bad …keep it as simple as possible …or if you cant at least automate signals as much as possible to save decision time
N