Hello, new here but with some years of failure experience

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.

1 Like

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.

1 Like

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

Thanks for the info!

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 !

1 Like

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.


Nice, how much do you have on your broker and how much is your margin floating avg ?

Right now I have about 6,500 in my broker account. I don’t know what the floating average margin is off hand but it’s not that much. The leverage is 50 to 1 at the broker I use.

I only trade on pairs when the spread is two or less.

1 Like

Hello Bruno!
If it helps, I also started with a small amount. I think it is definitely a way in the door and you can add more over time. Wishing you the best of luck to improve your family’s future. :four_leaf_clover:

1 Like

Hi guys !
If anyone wanna check my progress i just created a FXBOOK

I think what you’re facing is a clear case of less applicable knowledge. Hence, check out this book called, ‘Japanese Candlestick Charting Techniques’ by Steve Nison. Revise your strategy and go back to backtesting and create a new one, it takes time and it’s okay. You have the experience of facing loss, you have nothing to lose, except self esteem. Keep going!