I am still fairly new to trading but have been trading on a small live account for about 6 months ( not profitable but not losing just floating around the amount i deposited ) My main struggle is discipline I always do silly things like moving stops and holding onto losses or remove take profits when a trade is tanking towards them only to check later and it reversed and stopped me out ( A lot of times at break even as that’s another issue i have i move stops to break even to soon and miss out on some big moves that i would have caught ) i noticed a colleague at work always has a headphone in his ear and when i asked what he was listening to he said it was a podcast. That’s when i realized all this time wasted not listening to Forex podcasts when i could indeed be listening to Forex podcasts 12 hours a day!. Could anyone recommend a decent Forex podcast with a decent host as i am struggling to find one, i am hoping to find one that could maybe help drum some self discipline tactics into my head.
I have created a few strategies although I only really use 2 because I’m still slowly testing the others. I just backtest a strategy on all major pairs and the 4h and daily charts to see which pair/chart is best suited. I know I dont backtest as much as I should I probably done about 50 tests per strategies but as they are on the 4h and daily chart it can be weeks and weeks inbetween setups.
ok so you did backtest and then you changed SL, TP in real trade. Did you know that the results of real trade and backtesting can’t be compared now? and wasting time to create a backtest?
I know this is why I am looking for help and tips with self discipline because I know my strategy is capable of making me money. I’m lucky in the sence that I haven’t lost much capital as I guess most people learn the hard way and blow accounts with bad discipline. I know I will one day be profitable but I would prefer not to blow an account to learn a lesson that could potentially be learned via other means I.e stories of other traders that were in my shoes and tips on how they improved. I learn alot from this page I really wish they did a podcast lol
I wouldn’t know where to start . I am going to look at EA though i’m just not very technical so it will probably take me a while to grasp. i remember doing the school of pipsology section on EA’s and i thought to myself i would never use one of those as i just didn’t like the idea of a computer trading for me but now i can see why! Completely takes away the emotion. thanks for your help
Thanks for that I’ve just has a quick glance i am 100% going to read it properly when I get home tonight! I’m starting to really come round to the idea but I will have to do some research into how to create one myself as at the moment it’s way above my technical ability
Professorpips I read your article I felt like it was written just for me its really helped me decide that I want to try with EA’s but after abit of research last night I think I’m really going to struggle creating my own. I found a few step by step guides to creating them so I’m going to have a go and see how I get on. I appreciate your help massively
Hi, glad to hear that . There are three paths which you can choose, 1. Learn yourself how to create EA, the longest way but cheapest, 2, someone can write code for you every time, quickest way to get results but there is the most expensive. 3 something between these options, someone can write first code for you and you will be checking results working EA, in meantime learn how to write code.
I’m going to have a think about it as I like to do things myself but I really cant see myself bieng able to write code. Maybe facing the choice of learning to write code before I can be profitable or just sticking to my trading plan might make me more disciplined. Then I can focus on writing the code when I’m a full time trader
Every mentor that produces a podcast is complete nonsense. I have never seen one that was produced by a successful trader, they are all by snake oil selling charlatans.
Someone posted something earlier about Larry William’s and how Larry made ELEVEN THOUSAND PERCENT PROFIT and how he won some contest, lol… I have bad news for you, I listened to Larry on YouTube talk about his 11,000% and Larry doesnt have the common sense to flip a cheeseburger… his podcast is so full of holes… if he was a million dollar/11,000% trader his apartment looks like it was furnished out of a thrift store and his lingo sounds 100% amateur hour.
If Larry was legit, Larry would be busy trading instead of promoting an RSI clone indicator.
I am suggesting that Larry and his 11,000% profit is not real.
. Create EA from your idea and check results every week. Expert Advisor will make every programed function without emotions.
. I am going to look at EA though i’m just not very technical so it will probably take me a while to grasp. i remember doing the school of pipsology section on EA’s and i thought to myself i would never use one of those as i just didn’t like the idea of a computer trading for me but now i can see why! Completely takes away the emotion. thanks for your help 
its really helped me decide that I want to try with EA’s but after abit of research last night I think I’m really going to struggle creating my own. I found a few step by step guides to creating them so I’m going to have a go and see how I get on. I appreciate your help massively 
