my name is bruno and i am 27 years old, i have known the currency markets for approximately 4 or 5 years, but i have never been able to get out of the win, lose and win
I certainly lost more than I gained, what makes me feel bad is that I don’t have the feeling that I’m evolving, no matter how hard I study, I soon know other methods where everything I learned seems to be wrong and opposite, I feel like I’m walking in circles and wasting time
I’ve been studying some situations of trading without stop loss, or with loss greater than gain so as not to take short stops, but it doesn’t seem to make much sense to risk much more than I will gain, I accept any message of help from you, I know I will make it and especially with the situation in my country, I’m going to give my family a better situation, I don’t want to get rich quick, but I want to get rich one day, all I need is a correct direction to follow and tread
I currently work 14 hours a day and my investment is very little, with the expensive dollar 100 dollars in a brokerage is a lot, so my plan is something for 2 or 3 years to be at least taking what I take from my job (approximately 500 dollars a month)
thanks for reading this far, let’s go together towards victory
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I find it a rarity that people answer simple questions on this website. Thank you. All the best in your forex journey.
90 gains - 90 dollars
10 losses - 200 dollars
doesn’t seem quite right,but with losses greater than the gain I would say a maximum of 3 to 4 times, not 20
Have you ever contemplated simply trying to make twenty cents per trade on your $100 account? Not 300 pips and whatever percent you see people talking about. Just 20 cents and you practice consistency while finetuning a system and building your account? They will probably come at me again but…something like what is displayed in the screenshot below of a real account. Note the date.
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Very Nice, actually that’s what i’m doing, my biggest doubt is how far can i hold an open trade when he goes against me ? actually i think i’m pretty much doing the same as you are showing !
what I think I need to focus now is to refine my system and setup, focus in just one way and go, as I said, I’ve saw alot of information and Idk exactly what to follow now.
Actually I’m trying to take about 50 cents at least per trade with 0.01 lots, using larry willians setup
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So why are you giving the impression that you are failing badly? From what I see here that is not the case. I like what I see. My concern though is that you are dabbling in too many instruments and using a variety of lot sizes. I would suggest one lot size, one pair, one profit target. And I think fifty cents is too much pressure for what you are doing. I have been there. If you work with twenty cents you are more likely to be in the game much much longer. When your account is bigger you can increase your profit goal.
There is a youtube video by Ross Cameron called Scalp Trading: A Beginners Day Trading Strategy. When you watch it put the word pairs where he has stocks and it should help you some.
And take careful note of what he said at 25:16. Others will disagree but that is my two cents.
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thanks for the advice, I really appreciated that
In fact, this account is new, I already broke several accounts until I got here and this one doesn’t even have a month to live yet, I’m in the stage of testing this strategy.
I believe that the biggest difficulty is to keep really emotional until I have a condition to have a bigger account, which from penny to penny will really last a long time, but there are no shortcuts right?
currently I operate only 0.01 and in operations that are 0.10 are indices, and this is the minimum allowed
my doubt is just about me making 20 cents when I’m winning, but what about when I lose, what would be a pretty good loss to accept? All these operations that I won 50 cents got up to 6 negative dollars before they came back in my favor, they could not have come back and I could be paying swap until now…
by the way I will watch your video recommendations when I get in home, I’m working right now, any kind of material to study will be highly appreciated !
I mentioned The Candlestick Trading Bible ebook to another guy on here recently and in his reply he didnt say thanks but said something about toxicity. I’m not too eager to share information with people these days.
I suspect when you trade indices it takes a sizeable chunk out of your money per position (hopefully you are not in more than one position at a time). You could try the USD/JPY which will use up less of your money. No need to focus on large profits just now, just get used to winning trades. Practice makes habit they say.
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the problem with information on the internet is that it is very contradictory, there are a million information and forms, some tell you to study everything to the maximum and others that only the basics work.
what I seek to learn is something that works, I don’t want to reinvent the wheel and find the miraculous way, I just want to walk some path that I already know is working for someone and focus on it, so any kind of advice is very good
After my history of losing month after month (which is true for ALL of us) I started using smaller trade sizes and trying every new strategy I could find that looked promising.
Still kept having losing months, even though there were some good wins in them.
I finally found the strategy that meets my needs and has a high win rate and gets me in and out of trades in just a few minutes to a maximum of an hour or two. It’s also the only one I feel comfortable using my phone to place trades with.
But yes, on any forum I will get comments about how the system I use doesn’t work, or that others have tried it and lost everything. So, I wouldn’t know who to trust either. Even though I’m sure everyone is simply trying to be honest and helpful.
Let’s just say that I can tell you what I do and I can tell you that if I don’t make a profit 5 days a week, it’s because I only made a profit 4 days that week.
i’m keeping the strategy and it’s working guys !
Your take profit is 50 cents, how about your stop loss?
I just read ‘Trading in the zone’ by Mark Douglas yesterday, this book don’t talk about trading strategy, it’s about your feeling/emotion when you’re trading. If you have time, read it, it will help you a lot to build your emotion. Knowledge, strategy are important in trading and emotion is important too. If you are too scared when you trading, you can’t make a good trade, you need to practice until you feel free, and you know how to accept the loose.
Good luck!
Which timeframe do you use for this strategy and what size of each trade?
I don’t need to go out with a full gain, in the same way that a gas station owner doesn’t make his profits only with cars that fill 100% the fuel tank, I’m in that thought.
I already read that book, very good by the way
about my stop loss, I don’t use, that’s why i’m 73x2, if i used stops i would be probably 10x63…
also, i’m using the minimum lots 0.01
Trying to be on the fence Maybe your taking too many ideas on board.I read many posts on here ,lots of experienced traders have quoted " it’s simple really"
5 minute chart. Predominantly. This week l’ve been using 2 mini lots, usually by stacking 5 micro lot orders.
This gives me up to a couple hundred dollars profit each morning.
I stick to my plan, so by the end of this year I will be stacking 4 mini lots per trade.
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Nice, how much do you have on your broker and how much is your margin floating avg ?
