this is definitly underrated… we are our own enemies in trading and we need to learn how to tame the beast that we are.
Can you elaborate on this?
So what’s your system now sir are you a better trader? and I t m?
I really like your advice on trading life. I went through a similar version.
I opened an account and lost 30% in 3 weeks…Needed to stop and revamp my trading look…!!
I studied the markets for about 2 years on a demo. Traded high lots and did very well on my demo account. Then the ESMA kicks in with the stupid rules of leverage. This freaked me out as I could not trade £ 20 to £50 per lot anymore. For the same capital, I now have to trade £1 to £5 a lot now. This is when I took the back seat for another 2 years. And now I think I am ready to go live again. But I like to scalp day trading, never hold trades too long::::in and out…It’s not for everyone but I like the buzz. And only 2 to 3 trades a day & NO more…Please tell me your new strategy be nice to how your getting on now. Key word is Patience
1 Like
As a scalper the ESMA regulations are a nightmare and can drive traders to dodgy off-shore outfits. A scalper with a 10pip stop loss can only stake same as a swing/position trader with a 100/200pip SL. Of course, as with many regulatory bodies, they are run by people who haven’t got the faintest clue!
I have no vested interest but try having a look at TD365.com they are a regulated Australian broker. They have an off-shore set up with 200:1 leverage and client funds are held in escrow at Barclays Bank London.
Also tight fixed spreads. 
hank you Johnny for your reply and help and advice
,
I did have a look at TD365, very good site, and the fees are a nice welcome.
However, I have been looking into trading the [futures stocks and shares] and having a rest from the forex adventure and risky leverage trading. As markets are coming back in slowly and many look for good prices to buy into.
Example
It was only last year in October, I said I need to buy now! and today as the price is on the up with its earnings Q1 today my prediction was good, would have done well if I took the trade…typical outcome for a trader…
Still have that underlying worry of leverage trading risky as we both know. If I got into buying futures best option for a broker?
Hargreaves Lansdown maybe? my account would be about 10k to start. thoughts?
The broker I use is IG for spread betting, ok and very safe for your cash. They do a dealing platform but it’s with leverage. Not sure atm where to go in my direction. Leverage or not.
Thanks for your time
Best wishes
Trev uk
You have to be a good learner first to become a good Forex trader. Learn how to analyze the market properly.
1 Like
Trev - it’s difficult for me to advise, as I am not a futures trader, I only day trade using spread betting/CFDs. IG are very reputable, as are Hargreaves Lansdown, if you decide to go down that route. As far as day trading, spread betting/CFD would incur lower costs than futures which are exchange traded. The route you take is something only you can decide. Sorry I can’t be of more help.
You have to take lessons from your mistakes otherwise you can’t survive on the market for a very long time.
1 Like
how do you think i’m learning how to trade? 
Make sure every single mistake leaves you a lesson. If you can take lesson from your mistakes, you can morph into a perfect trader.
I don’;t just know meeeeeen; but its as if I told someone to help me tell/write my own trading (rather painful) story.
You just narrated a very similiar, if not exact story - to mine.
That ‘impatient’ part, greed - boy!!
As am even writing this - I’ve just blown away(again) - huge cash(loaned even); cos of principally ONE unhealthy trading habit: opening two many positions with higher Lot sizes, thereby putting my Equity in jeopardy(everytime the market goes against my opened positions).
Phweeh!! I just know though, by God’s grace - all that has changed for good, for ever!!
Your honest and insightful trading journey highlights the importance of self-awareness, perseverance, and continuously learning. The lessons you’ve learned – about diversification, finding a suitable trading style, managing economic events, cultivating patience, and maintaining a balanced life – are invaluable for traders at all levels. Your resilience in the face of setbacks and your determination to evolve as a trader are truly inspiring. Your story serves as a powerful reminder that trading success often comes from embracing humility, adapting to challenges, and never losing sight of personal growth.
What’s funny is Silver went +90%, from 15.50 to 29.50 in the next 4 months after this thread was made that he quit Longing XagUsd.
Time IN the market. Not TIMING the market.
Use proper Risk management and always remember that trend is your friend, don’t trade against the trend.
Tell that to everyone shorting the Yen this year.
“Trends” are hindsight. Best traded with a time machine.
2 Likes