Huge moment! I’ve been always searching through a lot of stuff and ‘trading’ some indexes, cryptos by my own, without a profound knowledge of what i was doing… tons of material but nothing getting fixed because of the constant changes in the techniques and testing whatever stuff i saw on internet (even not getting the whole concept of How things work, like a SMA, EMA, Fibonacci retracements & projection and so on). The last adventure i did was searching about technical analysis and Price Action.
High hopes i could get into a shapped form of what i should do!
So let me know, what ‘level’ you’re at since you started, how long you’ll been in the platform, and what learned so far, makes you confident for applying It and seeing results on a simulator? I’ll happy to know, thanks in advance!
I’ll give it a go. Every trader is different, has different opinions, has different likes and dislikes, and that is reflected in what type of trader you would like to be.
I can see right now, you are stuck in a mass of information without being able to take your learning path. This great education site, if you follow the free courses, would bring some sense into how you would like to trade.
The first stage is for you to develop a method and process that is profitable. Could take you months, even years. The second stage is to stick with it on every trade. New traders do not succeed because they are constantly fiddling around with it when they have losing trades.
From your introduction, that applies to you. You have no control over what the market throws at you, and IMO backtesting is mostly a waste of time, because you’ll still have trading losses.Which is the norm.
Even when you get to this stage, you’ll react to emotional responses just like being very excited - see your intro above. Successful trading FX mindset is detached and being calm, cool and collected throughout.
I hope that brings a little light into the darkness.
Best of luck.
Hey Steve, i appreciate your words Man, that clearly will give me a light!
You described me well based on what I reported
You’re right, i’ve to develop a better mindset, the emotional is really fundamental, I need to calm down, I’ve been dealing with things very quickly.
About a strategy, there’s tons of material out there actually, a lot of setups. Backtest and improve it according to what I deem necessary is the way, all i need is stick to one, and see what it brings, i guess.
I gave a quick look on your page, wow, you’re here for quite a long time, too many people may have asked you this, but, if it’s not a problem, briefly:
Hi.I am an old-school trader from April 2000. Spent eight months on a demo account until I was consistently profitable.
Had a setback when trading live - lost £200 on a prop firm account - but finally from Jan 2022, I had a profitable trend strategy and process in place which applies to every single trade I make.
I am a break-even profitable trader for the last nine consecutive months. My nemesis - as all traders suffer from - is emotional reactions. I have a half-way detached solution which relies on my strategy making more profits than losses. Which works.
My holy grail edge on upward trends is being able to place my T/P at a point below where losing traders close their accounts or get stopped out. And vice versa for downward trends. All entries on the 4hr chart if in synch with the Daily trend.
