As the title states do you currently take less than 5 trades per day? If so why?
The question is for both newbies and my veteran trader friends alike.
As for me I find that I enjoy testing my wits/skills against the big bad forex market so much that if I dont do at least 20 in a day I feel disappointed and empty. I hear people talking about taking one and two trades per week and I know I could never be satisfied or happy with that…well perhaps if I were super busy. But as a someone new to forex and testing various strategies etc. how could you be only taking 3 trades per week??? You should be doing 100 plus per day to get your thing right. Of course my thinking may be flawed as it usually is, lol.
What about you?
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If you are trading at least 20 trades a day, you are on the fast track to not protecting your account. Done that, been there, had 13 consecutive losing trades - now maybe one per day because that’s the path to success.
Why? Well, you could open a profitable strategy trade with a $100 T/P, and spend the extra time learning how to trade properly.
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I trade very less let alone 5 trades a day. Even some days go without opening a single trade. On average, I open one or two trades a day.
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I wasnt asking you to critique my strategy. I thought the question was rather straight forward… but then again that may have been my simplemindedness showing through. I could post a screenshot of my trades today but I think everyone is tired of seeing them, lol. Curiously enough I hear you spouting this thing about learning to trade properly but I dont recall seeing anything you posted showing your trades.
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If it works for you, then apologies, ignore my critique. I’m pointing out that low number of trades could be just as successful. Just depends on managing the risk exposure.
Cheers, and best of luck.
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You were out of line, out of order, and your “apology” was conditional, making it worthless. I could have responded differently but I am trying to be civil. Because I dont trade like you and get your results I am not trading properly? Did you even stop to consider that my particular strategy could actually be based on taking a large number of trades? As a senior member on the site I would have expected better from you. And for your information I cant recall having 4 straight losing trades.
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As i specialized on the opening of indices i take only two trades a day. one in the morning and one in the afternoon. For now. I think limiting myself on only 2 trades played a huge part for achieving profitability as it completely took out my former habit of over trading.
But I will test in the future, if i can trade FTSE alongside DAX and US100 alongside US30 with a second screen and what this would mean in terms of profitability.
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I understand and appreciate the rationale. I also understand and appreciate as well that the strategy you employ plays a major role in the way you choose to trade. That indices open thing does have potential.
These numbers are crazy to me brother. Just like the other guy with a superiority complex lol how is he making claims like youre on the path to blow your acc without knowing anything about your strategy and risk management. Anyways I wanted to ask you how long have you been trading and is it your main source if income?
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When I was on a demo account, I used to take, on average, 2 or 3 trades a day. Now that I’m using a live account, it is even less since I have a small account and the margin doesn’t give me much freedom to take many trades at the same time.
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Yes, (currently) I’m trading way less than 5 trades per day.
I don’t have the time and even if, I wouldn’t like to spend that much time for trading. trading higher timeframes also provides less set ups.
i also have to confess that i rather trade 10 trades within 5 days than 24 trades within 3 day like posted in your screenshot. Hows the sum of your profit ? about 1,50 dollar ? seems not worth it to me, but this is only my personal opinion and you don’t have to cry or feel offended please.
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Wait i just clocked that bro is the profit really under a dollar per trade? Just go to your 9-5 bruh 20 trades a day is a waste of time hahaha
Lol, yeah you are entirely correct. What you should do now though is get your calculator out and work out what the percentages are on this account which is less than US$200.00.
Next think about what is happening to the other larger account to which all these trades are being copied to. When I see responses such as yours it is not difficult to see why so many people fail at this forex trading business.
I understand it may be difficult for some people out there to grasp but take a minute and consider what the figures would look if the $200 account were 10k (200 X 50), the lot size increased by the same factor of 50 and I were trading the exact way I am now.
Thanks for your viewpoint though.
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No I am not offended, thanks for taking the time to voice your opinion. I fully understand your points. I find it curious though that people will spend all day, for example, doing some hard work for pittance when they could trade forex in the comfort of their homes whenever they choose and get more money. See my comment above and see if you can see the bigger picture.
I dont expect everyone to trade the way I do. I fully expect everyone is satisfied with the results they are getting.
If you can identify your A grade set ups compared to B grade and C grade. Then compare your strike rate across them all you’ll then realise you should only be taking A grade set ups. And these set ups might not occur as often as you might wish
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I am a simple fellow. I purposefully do not try to complicate this business of forex trading. With my particular strategy I can sit and look at my pair for less than five minutes and begin trading. Grade A B C or even Z is not a factor. There is a reason Why I trade the 1 minute chart. But how can you knock a strategy without knowing what exactly it is though?
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Hey @THE_GOATE
Just looking at this image, it seems like you’ve had more than 20 trades, but unfortunately, it doesn’t look like you made any profit at all. One of your trades actually ended up with a loss that was a whopping 10 times bigger than the average profit you made on your successful trades. Is this conclusion correct? I didn’t use a calculator, so I might be wrong.
What you are seeing is only what can hold on one page. There are other trades besides these. Also with my particular strategy because of the small account size sometimes you actually have to give up 10 in order to gain 20.
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Great, keep it up! Is it demo or live?
Live. If I were to post a demo account here it would be showing 1k per trade with 25 trades per page.
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