Guide a struggling trader

Wow. What’s going on?

oh just some pro trader comes on with an easy peasy lemon squeezy Moving averages break out trade setup, but started getting quite shirty when people queried his “10% per month with never any drawdowns is easy” claim, and he didn’t warm at all to me trying to reproduce some of his trades on my chart which he is in and out of anywhere between 1-5 minutes…ever traded the 1min charts with 5 pip SL for 3 pip gains, with Stop Entry orders? Ya know what the slippage would do to those trades?

I use the 5 minute. I don’t know if this guy’s cracked. I gotta tell ya, I get the same results…sort of. 23% is my average over 7 months. Maybe he’s right? Slippage has never been a thing fo me but like I said I’m only on the 5 minute.

What broker do you use?

Sorry, what prop fund?


Who use Pepperstone through CTrader, which is the broker I used to trade with and the one I would recommend to anyone going into FX with a small account.

Yeah…that was all the debate was really about…the whole 10% per week thing is easy…

…yeah…it’s easy if you just wiped your losing days/weeks from the record as though they never existed.

Is their slippage really that bad? I’m with MFF and as long as I stay away from the USD when news comes out I never have a problem with slippage. Don’t even notice it most of the time.

Nah, I only had 2 bad days last month. I only trade 2 or three days out of the week. Monday and Tuesday are my best days so unless I’m under 5% for the the week I usually stop trading and go have fun.

What timeframe do you trade? I start at the daily and look at the usd pairs and work down the timeframes until I get to the 5m. It almost never fails. I get a lot of small wins but if it just turned on the daily I’m floating in cash!!! It scares me sometimes actually! I have to stop trading and go for a bike ride…with a monster grin

I have no issues with their slippage…but I don’t trade 1 minute charts, or if I do, then I am just pissing around for small pennies.

I actually had a trade on the 1 min charts in GBPUSD this week. I got slipped 3.6 pips on that, which meant not only did I get filled, but I NEVER got stopped out either, which if I would have done, had I not been slipped. Blue shows intended entry. red intended SL, and green intended target, with obviously the little green triangles showing actual entry and exits.

and that was with a limit order. Stop orders would likely be worse. Retail FX brokers aren’t the place to trade with 5 pip Stop Losses in trades lasting 1 minute 30 seconds.

I only use market orders. Works every time tho…well almost. Why do you use limit orders?

I don’t trade break outs. I only trade retraces into areas where I think price has a strong chance of reversing, so there is seldom a need for me to hit a market order…

…but when I do enter atm…price also fills me a pip or two higher up than I had a limit order at a certain price. Absolutely standard practice with any platform I ever traded on.

Even if you were trading on an actual exchange, with a real order book, the Mkt Orders always get nipped by bots which front run them for arbitrage, and Stop Orders always get proper fkd.

That’s rough dude. Any tim I see slippage it’s 1-5 points, not pips! Trade brokers maybe? You could always switch to instant execution…oh you’re not on mt4 or mt5. Can you switch to instant execution? That will protect you from slippage… a bit. You may miss a trade or 2 but you have a choice to enter or not if the slip isn’t going your way. Might not work fir pending tho.

Chop and change. Look at multiple timeframes to build up a market bias. Looks like my other trades in the GBPUSD that week were taken on the hourly, or thereabouts…but in reality, multiple timeframes

I only enter on the 5m. I look at all the tf fist thing when I make my watch list tho. Mostly I watch 3 pairs all day (4-6 hours).

Lol sorry, fat fingers, small phone.

I have 21 market charts open on my spreads. USD and JPY pairs, as those are the only ones that have tolerable spreads over ‘the witching hour’, but with even majors like GBPUSD widening up to 10 pips, and the usual indices and commodities, which don’t have widening spreads at all, thanks to the futures markets upon which the cfd prices are based, closing for 1 hour. Recently however, everything has been about the USD so the cross pairs have been kind of irrelevant although historically my best trades have been in the GBPJPY…perhaps cos my style suited the big volatile daddy long legs moves into key areas that this pair tended to offer up. Whereas the EURUSD, which for many traders is the ‘easiest’, doesn’t suit me as I am always sitting too deep for it’s shitty little 50% retraces.

Also coming over to the idea of focus, where my best trades are coming about when I choose to focus on just one market, and follow it’s story closely for that time period…cos lets face it, most of the time as traders we are looking for an answer to a question that hasn’t even been asked yet…so erm…pay close attention…but would never say to myself, right, I trade X, Y, and Z. leave everything open for consideration so long as it has appealing market structure…unlike say USOil for the past few weeks…or the EURUSD in between it’s big impulse moves,

I trade in E/G - i.e. I do business on the only land border for Euro/Gbp thus buy & sell in both currencies.

A currency trader is a speculator and takes the other side of a commercial - if I’ve bought Euros with Pounds and later those Euros have increased in value and the Pounds decreased then obviously I’ll sell those Euros (and get more pounds).

Btw - Tom Dante trades the Bund - Bond markets are great for learning the market - they give a sense of investor sentiment in live time.

If you look at my chart up above and that arrow and and then later that push up on price that I mentioned - there is another chart that has to be watched when thinking of EG - because of current climate the UK10yr.

The day before that push up in price I had an arrow - down this time and a clear signal of investor sentiment

save me posting it all again details are here:
Current Affairs effect on the market - Trading Discussion / News and Economy - Forum

Edit: zoomed out on the 10yr to give a better perspective - I just added little trendline but in reality was very easy to see when live. - the key element was the horiz - see how the daily price of the bond hesitated and then fell - lots of TA in that - the FA was that investors were waiting.
See too that price is almost back up since then - imagine where price will be come next weekend - that’s the place to learn - right side of the chart :slight_smile:


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The more effort I put into my trading the less successful it seems to be. I have certainly never really felt under pressure though. I think the environment is important too: when I was working there were constant distractions and interruptions! Now I am retired I have to work in the only room on the house to have a reasonable internet signal - and there are constant distractions and interruptions.

‘The More I Know, the Worse I Get’, is a good sign you may be doing the wrong things.

No shortage of Wild Goose chases and Red Herrings in this space.

Distractions are a big No No as well though.