Hey fellas
I’m Parssa and so glad talk to you people here it’s like home to me.
Today i wanted to share my problem with ya all maybe you can guide me with your wisdom.
It’s more than 2 years that I’m in this market (FX) and since the day first i started learning concepts and building my trading plan. Now i have a good trading plan with several setups and so good rules which i have learned in different courses specially here in FX baby pips.
But my problem is I’m not profitable. I open a trade and sometimes it just go to my stop immediately and sometimes goes in trade side a little bit and then hit my stop. All these situations is when I’m live trading
When i do forward testing like playing market move in past month I’m really so good like i earn 100 pips per week but in live market and as a day trader i can’t catch the goal.
I know so many things about mindset and psychology but in live market it doesn’t work for me i just need at the current moment i need some traders opinions who are profitable them selves and are so experienced.
Thank you so much for reading and i would appreciate your comment as you may have been through this stage too.
most welcome in baby pips forum , i hope you will enjoy your trading environment among us. happy trading journey
The only person who can help you is yourself. That’s where your problem exists. What do you do differently when you are trading live?
I would suggest you need to learn detachment to what is happening to your trades. Turn off the desktop for one hour at a time. The only control you have is over the risk amount.
Hope that helps. If so write a daily journal.
Most of us will target a market which we see is already set up to be more likely to move in that direction, as shown in price action for some time now. The actual entry then occurs when there is an impulse of energy in the same direction, as shown in the most recent chart price action. Once you’re in the trade you need to ensure that your stop-loss is not so close to your entry that normal volatility in price will trigger it.
thank you. for your guidance
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Hey. Price action trading is the way to go. The indicators we are taught to use are lagging and will result in lower profits or no profits. The only indicators needed are a candle timer, sma for showing the trend only (no sma cross needed), and an indicator to mark all the prices ending with 000 or 00 and 500 or 50. These levels are what the banks use. You will find resistance and support levels at these points. You’ve got to think and trade like a banker to win.
Was you stop loss too tight with entry price? And check your entry strategy.
Try to reduce your daily gold a little bit, it will help you are not too stressful.
Hope it help!
hi thanks for your guidance. my stop duo to risk management can’t be over 20pips usually and my daily goal is 40 pips.
I think your Stop loss placement is too tight to begin with. But we all have a phase when we struggle to become profitable and it’s normal. Just be patient and see why the trades are going against you all the time. Maybe there is a problem with your trade selection or timing. I am sure you will be able to find an answer and make more progress in the future. Good luck!
In order to achieve your goal, you should learn the proper placement of stop loss, only then will you know when to be in profit and when to stop. Gradual learning works best.
thanks dear stacy that helps me i’m actually considering a few changes in my plan which i surely share the result in this threat and thanks for your wisdom
Struggling traders must set reasonable expectations for their profits and learn to mitigate losses.
The results of demo and live trading rarely match. It is critical to determine what is wrong with your live account. Trade with a trader’s mindset and get rid of your fear if you have it.
Predetermining and placing stop loss at an appropriate level is very important in order to mitigate the risks properly.
Hi, thanks for your reply.
actually since posting this topic i’ve been working on my strategy. i’ve been using volume profile to put the stop on weakest volumes and sometimes i liked to use a static stop like 15 pips but cause my entry was breakout based. I developed an aggressive entry based on strong reversal zones and i think in that cause i wish to have better win rate.
Hi. thanks for your reply.
Yeah exactly that’s what i understood in terms of forward testing.
the thing in forward testing is you have got a lot of opportunities that first loosing an opportunity doesn’t effect your mentality and secondly you have got a lot of confidence in the time which you execute your plan exactly the way it has to be.
Yes I agree, correct placing of stop loss also is a skill for a trader. What stop loss order do you prefer?
Hi nikol
Thank you for commenting
I was like to think a normal SL is like 20 to 30 pips base on a breakout trading technique but i think I was wrong then cause big losses make even big traders to fail so I now try to enter more specific by hunting points and my stops are usually 10 pips I think SL is highly correlated with the entry technique
If you want to know a few techniques usually ATR is one the simplest ones then i think volume based SL and after that technical SLs are the most strong ones but sometimes static stops work well too if you trade on same market conditions and environment like a static stop of for example 15 pips may be a good option base on market climate
Even when traders know about psychology, they find themselves struggling to practise it in their trading journey. I get your problem, but sadly the only thing that can help you is your own mindset and trading style. Take some break from trading, analyse yourself thoroughly, and see what mistake you are making when day trading and live trading.