This topic is extremely important, so thank you for posting. I am have been trading for 2 years now and have oscillated between profit and loss and I am still no in the green overall. The good news is I think I am getting there and I started getting to more consistent profit
- after working heavily on some impulsivity that took over me when trading in the past;
- focusing 98% of my time in money and risk management through a well kept trading journal. This leads you to control yoursefl, have better notion of what you are really doing/question every trade twice before going for it;
- Being 1000% disciplined regarding the rules (but also the process) that you define for yourself in your trading plan. This is crucial.
I also understand Donald’s comments about learning everything about one pair and only then move to others. It hasn’t been my method, but perhaps it would have been better. Anyhow, do not disperse too much, that is what I found that is crucial. I started going for all sorts of things, not only currencies but also metals, stocks, ETFs and even options! Not a good move, I found out quickly. Busted an account and a lot of self confidence. All this matters. But hey, I am still here and will be, hopefully, on this journey for a long time, being increasingly selective about the trades I effectively take and protecting my money.
Good luck to you, hope we can come back to this topic sometime in the future and see how it all went.