1st year trading

Hi everyone

I am a self taught forex trader, learning as I go, using my own breakout system.

If any one has tips/advise please share

Welcome to the forums. :slight_smile:

How did your first year of trading go?

Hi

Thanks for the reply
Lots of hi/lo times thought out the year,but a ton of leaning and developing,and I had no one to guide me and I am self taught, ever lesson had to leaned the hard way my pocket������.

What about your self?? Trading for long??

Lessons tend to stick better when it’s coming out of your pocket. :wink:

I learned forex directly live rather than doing demo. And it’s surely hurts for two years…

I would suggest trading longer time frames rather than scalping, especially for newbies.
Trends tend to be more reliable, less “noise”, less stress

Ok i wanted to share my experience in my first year

I made research about forex trading, some people paid for seminars or buy books to help them. Now, this is normal to everyone of us.
This is what i experience before a year ago
Mistakes i did

  1. I used to panic when the market is attempting to against me, so i would hold it and wait till it until it will go in with the trend but it always goes in the other way so i panic again. I would pull the trigger and boom! loosing trade.
    Every transaction i get in is going to have a trade free, it means every time we enter the trade there’s a fee to pay the broker.
  2. Just jumping into the market without analysis or didn’t know what i’m doing, Boom! loose trade i didn’t know what are the resistance and support and the market doesn’t have a range where it goes, its i’m blinded.
  3. Revenge trade… my favorite, Ouch, if i loose before i would double my bet and against that market, its like doing martingale system in the casino that is ready to wipe out the money i got. Then Reload my money then started to trade again. hmmm did i just say: wipe out my whole account?

But my one year, i was always nodding my head every time i loose, then wait for a week and attempt and loose again.

Thank you all for the reply and sharing your first year trading, my knowledge of the forex market is mainly thought books, I don’t scalp as I don’t have time for that. As I have made my own trading system it’s taking time to fine tune it, I was very exticed at first always wanted to be in the market as if that would pay,how wrong was I.
Lesson 1.plan your trade,trade your plan, sounds simply have to be very confident with your system
Lesson.2 money magemant, boy this has to be the king of the all, you can be the best trader in the world if you don’t have this that’s it.
Lesson.3 do what no one else is doing, if the trade feels wrong, it’s more than likely to be a good trade
Lesson.4 not feeling hurt by loosing trades, we always want to be right, but it doesn’t work like that in forex
I could go on, but I will say this I love trading it’s one of the best things I ever taken on such a buzz for all the right reason