My name is Silver, 26 years old trader, have been trading for 8 years now and for 3 years have been consistently profitable.
You may be thinking well why I am here if I am successful already? You know it took me around 5 years to find success in trading and I really want to give back to the traders who are not profitable yet. Because I know how hard and painful it is if you don’t have right strategy and mindset to be profitable trader.
So if I can lift off some years from new traders to become profitable i’m happy
For me the turning point from losing to consistently profitable trader was getting my psychology and risk management right. When I started trading I was a trader who opened up account with 500 or 1000 euros and because I wanted to earn money from it right away, meaning if I put in 5 hours of trading day, I want to earn atleast 100 euros a day. But this was completely wrong way to go because to make this amount of money from so small trading account, I had to risk a lot, meaning 5 or even 10% of my account on single trade, this is just crazy. But I was thinking well if I keep learning and learning I will get to the point where my win rate is like 80 or 90% and then risking 5% per trade is fine right? And I spent 4 years blowing up accounts, taking many courses to get better until I realized well the problem is not in my trading strategy, its normal that even best traders in the world have 5 losses in a row so I must adjust my risk management.
Actually im happy that I did this mistake because I learned so much knowledge from these years, if I would’ve been successful from the get go, I would’ve settled to the strategy that makes like 5% a month if I risk 1% per trade, but now because I have so much knowledge and experience, getting 20-40% returns a month is nothing special
The thing that I hate about forex is that there is so much BS education rolling all over the place and because of that most of the retail traders are as institutions call them “dumb money” and its because this is a zero-sum game, someone must loose so that someone else can make profit.
I am looking forward to learn many things from you. Especialy about your losses. How to minimize it, when to decide that there is no turning back. Thanks!
That’s a great idea, I will write a post and shoot a video series in the future on what I think is the best path to get started
Yes the losses is important topic, one thing is technical strategy that clearly defines when you take a loss and another thing is trading psychology, how to avoid unnecessary mistakes because every mistake will put you step behind. I will cover both of these topics in the future.
Because when I started trading forex Admiral Markets was the only broker that had office in Estonia (this is where I live), so I visited their office, they looked professional. Since then I have been happy with them, fast withdrawals, great support and the spreads are also decent so I have no reason to move away.
Ok - well I did a little search on them and see no real adverse issues popping up, except possibly their “regulation” authorities are some of the lesser ones.
However, I’d keep the account size small by withdrawing money if you make decent profits - but then I’d recommend that precaution for Any brokerage.
because I learned so much knowledge from these years, if I would’ve been successful from the get go, I would’ve settled to the strategy that makes like 5% a month if I risk 1% per trade, but now because I have so much knowledge and experience, getting 20-40% returns a month is nothing special 
