I don’t understand, maybe I’m missing something. You answered my question with questions. Now you’re saying 15% or 25% is EASILY achievable but not explained how. Only if someone has a profitable strategy will they achieve any ROI. Otherwise blown account and another thread on how they failed is what will be easily achieved.
1 Like
Do you have two accounts? The response with 15% to 25% is to GLTrader about if a trader can live off of a $10,000 account.
I believe your question was about why I went short on USD/SEK? Unless both accounts are yours.
Or maybe you are responding to both posts.
Yes, I did ask you questions and it would be good for you to look at the chart and try and determine what seemed most probable to happen. The momentum of price obviously slowed as it approached the high on USD/SEK. So for me a long doesn’t look very good.
As to having a profitable strategy or not that comes from a trader back testing. My strategy is profitable for me and fits my trading goals. You must start trying to put together a strategy and test it. Trading is a lot of work. Once you have your strategy and have back tested it profitably you can get these results. I can’t tell you what strategy is best for you. I don’t trade any of my mentors strategies, but I learned from their approaches.
I would recommend the book trading in the zone by Mark Douglas to you as it could help drive home that mental analysis and your ability to think in probabilities is much more important than any strategy ever will be.
Link to audiobook on youtube:
I have traded a few strategies profitably over my time in the markets due to my understanding that I can lose 70% of my trades and still make money. If you are looking for a strategy this is probably not the Topic for you. This topic is aimed to build the mindset and way of thinking that traders with many different strategies will benefit from implementing and improve their results.
8 Likes
Thanks for sharing this. It just felt like you are writing out what I have in my journals.
I have 2+ year experience in trading and I can tell you that I have arrived at the same conclusions that :
(a.) All strategies can be profitable depending on how the traders use them.
(b) You can have 20% Winrate and still be profitable. You can lose 80 trades out of 100 and still be profitable.
(c ) To have higher Probability of success in trading, you should apply the Pareto principle. Just believe that 20% of your trades will be right and 80% will be wrong. Since 80% will be losers, be prepared for losing streaks and since 20% will be winners, use risk reward ratio =+4R( you profit per trade must be greater than 4).
(d) No need to aim to double your money in a month. This mindset creates stress for you.
6 Likes
I appreciate your sharing TREMENDOUSLY - thank you. Namaste
Michelle
1 Like
Well said. Thanks. Michelle
1 Like
Bookmarking to read later
1 Like
I’m an expectant!
1 Like
Hi thetradinggod,
I’m curious on how you find your way into a prop firm without contacts if thats even possible??
My partner was speaking to me about this last night as a career change as trading is a big passion of mine
Great thread! Trading in the Zone is a great read indeed for anyone stepping into or been in trading.
2 Likes
I like this
1 Like
This tread is awesome. Thumbs up
Definitely google this. Depending on your location there are more (or less) opportunities. There are firms that you may even end up paying a fee to which is not really ideal but if you are truly a successful trader it gives you an opportunity to network.
It’s all about hustle here and shopping yourself around. You need atleast a good year plus of profitable trading and then it’s up to you to apply apply apply.
You won’t hear back from all, you will get turned down by some but we are talking about pursuing a dream here not getting a gig at Mcdonalds and even then when I was a teen trying to get my first job I faced the same. 
3 Likes
yup…looks interesting. im sure we are all here … because we crave a certain freedom.
cant wait for the rest.
1 Like
Thank you for your comments and answers to date. Have I missed something / Have you shared your trading strategy as yet?
Hello thetradinggod,
I haven’t been on babypips in awhile but I got this email today suggesting I check out your tread .
I’m so glad I signed in and read your posts. Thank you for sharing your insight and we truly appreciate every bit of it. Believe it or not your posts will go a long way in helping out guys like me that are willing and wanting to learn the art of trading in its entirety and I really enjoyed the way you simplified it.Thank you for your time and please keep them coming!
3 Likes
Dear thetradinggod, Have sympathy with an old loser like me. I seem to be missing the point here. I have re-read all posts since the beginning and don’t know what your point is. Have downloaded “Trading in the Zone” Please re-word your message for me and thank you for your charity of sharing.
I am not sure what you would like re-worded…
You have a habit of answering questions with more questions. You’re quite slippery mate. Thanks for clearing things up. My next question was what is the point of this thread if you’re not sharing your strategy. Lol. It’s another mindset and psychology thread. A profitable strategy can be helped with psychology, an unprofitable one cant. Trading in the zone is how to get the most out of a profitable strategy, lol, if its losing one then no matter how much you work on mindset you’ll blow your account. It’s all been said before by the many experienced traders in this forum. You’re just re-hashing it and telling it in a different way. Wish you the best of luck but i wont be wasting my time reading these long posts repeating what has been said before. I’m out.
2 Likes
I have a nice strategy for you if you don’t like reading but like pictures.
2 Likes
You are correct. Many times we know the answer and a good mentor will pull that answer out of you not just give you the simple answer. That is the way my mentors taught me. I would pose a question and they would make me work for the answer. That made a big impact on me and is what I try to do with each trader I have mentored.
You have not responded to a question I posed such as if it looked more probable to be a long trade to you? If you had answered we could have continued the discussion and you may have been surprised.
There are plenty of other traders out there that can be a mentor and their style may suit you better than mine. There are also plenty of strategies out there that can be profitable in the hands of the right trader. I have provided my first strategy that I traded profitably in a previous post. It was a trend following strategy on pullbacks to Support And Resistance areas with oversold or overbought Stochastic readings. You could trade that profitably.
And I agree. Trading is very simple there is not much new to say. The way I put it may help one particular trader to trade better and that is my goal.
It looks like this is where we will be parting ways though so I would like to wish the best of luck to you on your trading journey and I hope you will achieve the results that you are aiming to achieve.
Much success, friend!
P.S As @The_Baller posted he has a great strategy on his topic. That might be more your style!
6 Likes