Just curious to hear about legitimate journeys as you started off in Forex and how you’ve managed to stay consistently profitable over time. What was the strategy you used that really made things work? I’ve been continuing to tune my strategy and learn from my losses. I have waves of really good and then waves of really bad. Unfortunately, I haven’t been able to be consistently profitable. I have recently been exploring top-down analysis and looking over the weekly for direction, daily for that better trend, 4h for confirmation, and then entering on the 1h. Buying/selling in areas of liquidity/interest
A big question I have is how often are you actually taking trades! When I first started, I swear I was in 5+ trades a day trading off the daily/hourly, but it wasn’t working out for me. Now I’m really slowing things down to the point where I maybe get 1-2 trades a week. How often are you trading that’s helping you stay profitable!
I appreciate the honesty in advance! Just want to get better and really nail this down!
1-3 per week is really where it’s at for me. As someone who has other things going on in their life, I can’t be staring at my charts all day looking for opportunities. So I just stick with 1D charts and have open trades over 1-4 days! I’d say I’m profitable but you have to take into consideration my account size which is now at about $400.
What is missing in your question is your answer to why you are having losses. What is it you are learning from them?.
Then, we can help you avoid mistakes that you have made. Here is a list of probabilities:
Overtrading.
Revenge trading
Gambling.
Not closing losing trades early. Critical.
Letting losing trades run further than winning ones.
Adding to losing trades. Avoid at all costs, as there is always other trades awaiting.
It’s critical to avoid losing larger monies than winning ones - hence the above.
Fear of missing out (FOMO)
Pain of losing
Learn ZEN mindset.
Manage your risk exposure properly by being patient and disciplined.
your problem is very common , and unsolvable ,if you insist on your trading system ,you will probably end up wasting 10+ years and give up.
if you wonder why ?simple ,because your system(everyone else too)is based on randomness(or probability) ,so you can’t really complain of the unstable outcome.
to solve it ? yes ,just like you thought ,forget everything you learned ,focus on finding that ONE thing that will 100% happen. once you found it , you forex ,even your trading journey will come to an graduate end . i hope you can do it
I am a day/swing trader but i am mostly a day trader.
I use a strategy on a Day or 4H and i have another i use on a 1H and my entries are on the 15min … but which strategy suits you best and your personality and way of trading, only you can answer this and it is your job to find these answers as no one else can do it for you.
