As traders, mistakes are bound to happen! But if you are not learning from them, then you are stopping your growth. So, study your previous moves, modify your strategies and then trade.
thanks for sharing the experience with me.
well i’ve learnt that a bit ago but the thing i feel right now is no matter how hard i try to debug my faults and learn from them and put a condition based on that in my plan to don’t commit them anymore, i find out there is more to learn and i commit new mistakes. don’t know if you ever happened to be in such a stage in trading but it’s exhausting as hell
thanks again for commenting
thanks for replying again.
the thing you just mentioned in your comment may be correct .
but since i’ve worked in programming field and debugging is always a stage of work i sometimes think that there’s a point which we may find out the correct formula of trading, just like world class traders out there or even normal traders with good profit level.
Compared to a computer, our rational processing power is pretty sh!t.
Compared to a computer, our sub-conscious processing power is light years ahead.
I would say the best human traders must play to their advantages, which is largely relying on intuition to make the right moves. Certainly we have all heard of George Soros’ back pain playing up, giving him a sign that there was something wrong with his positions.
I don’t know how it was back in the pre computer algo era. Perhaps a lot easier. Perhaps lots of the textbook strategies did once upon a time work a treat, when the markets were much more prone to human psychology and emotions, and the markets really could be effectively exploited with a few simple bags of tricks, which were once the preserve of the market initiated, but are now widely available for free all over the internet…and that is the thing. Even if there was a ‘correct forumla’ of trading. If too many participants latch on to those formulae, then in a zero sum game, they are no longer going to work…and that is without the algos actively trading against those well known formulae.
Markets are constantly changing and I think that any trader that allows themselves to get too mechanical, is in for a rough ride over the duration.
Helloooo! Decided to drop by to check on how you’re doing. Demo and Live trading could be really different, so it takes a few tweaks and adjustments before your strategy can be profitable for live trading. But how have your trades been?
You also have a very active thread! Lots of people are here. I hope you’re getting all the help you need!
Hey Ria .
thanks for your comment:sweat_smile:.
well actually if i can tell about win% i usually have a 50 to 60 percent win rate on backtests and now that i’m trading on demo it’s like 30 to 40 so that a huge drop but with money management my account is growing so slowly i’m just thinking if i turn to real again i become a loosing trader with lower win%.
With your dedication and effort, I’m sure it’ll all work out! You’re even a more responsible trader than I am. But just to confirm, you also trade part-time for now right?
I’m a college student so i have to trade part time
OOOOHHH! That’s nice. I wish I also started trading when I was in college when I had more free time. I was so excited to work back then. And now that I’m working, I just wanna go back.
It’s hard though cause there were times i had to check market during class😅
Well. That’s the challenge to it. But I hope you’re not too distracted from your classes.
In my opinion, you should improve your knowledge and expertise in forex trading. Take a break from trading and think about everything you’ve done. It will assist you in identifying your flaws. Learn from your mistakes and implement preventative measures to ensure that they do not happen again.
Thank you dear friend.
well actually I did you what you mentioned
Hello to all my fellas here.
I really been through an improving journey since I posted the Struggling trader and i really wanna thank every single person (trader) who guided me with her/his wisdom.
it’s really heart warming to see such dedicated people not afraid to see other people successful.
I’m gonna start a new Thread The Time you Found Your Edge
Which I wish You all to participate to make a great resource for Unsuccessful traders and Maybe share a part of your own Journey.
But about what has been going on from September and start of this thread to right now:
well in first few months I started to learn more Technical analysis (like advanced Price actions Qm levels etc…) I tried them and upgraded my plan in that way but my plan was getting hard to execute cause usually traders like me think if they have heck of a plan with different strategies they can become successful. but unfortunately it wasn’t the way for me. although I was successful and profitable in a month, I would easily get emotional and fell into an emotion cycle , not to mention most of the plan was useless cause I was afraid to use it (Being emotional).
but I couldn’t convince myself to change it at last it was the outcome of learning for two years and changing it was like confessing I was WRONG.
I took a break from trading and a day I accidently joined a channel which I learned new point about BEING a trader which I believe we usually hear them but don’t know if take them seriously or not or even how to apply them in our game.
one of those points was differences between market and a casino and how a trader can look at the market like a gambler ( I know it’s not gambling I just mean that anything can happen but in long term if you have the edge you are the winner not the house)
and some other points especially about back testing and psychology and how not to get stuck in a emotion cycles.
right now till this day I have developed my own plan (which is quite simple to execute) with significant money management rules and barriers.
I back test my strategy everyday (if you have a good software for back testing it’s easier to analyze your performance) to TRUST my strategy
I have some psychological exercises for overcoming emotions (FOMO , fear of taking trade …)
I wish to be able to become better trader everyday and someday write about it for you awesome people in this community and read about your journey and successes in the new thread I started.
Thank you and Baby pips for teaching us and making this platform to we be able to talk.
Trading the news is a form of breakout trading as well. You would have to act quickly once the trade goes your way. As soon as the trade goes your way for a little while it is good to move your stop loss to break even. This way if it goes against you, you will not lose any money.
Glad you never gave up. Success is a process. There will be teething pains and alot of info to sift through to get there.
H4 chart is recommended for part-time because you don’t have to sit in front of the computer as much.
The best guide to any trader is himself. If you can identify your mistakes and positively start working o them you can see the change and can get more clarity about your trading journey.
No trader is profitable from day one. It takes time to be consistently profitable in the market. It is better to be patient and keep going. Your perseverance will be rewarded.