Is someone here profitable?

Is someone here profitable, has been for a decent amount of time, and has a verified track record he is willing to share? I am losing a bit of faith in this whole trading thing.

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Trading is not profitable, better Quit ASAP

https://www.myfxbook.com/most-popular-forex-systems

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Many of the profitable folks won’t come out and say it, exactly because of the evidence you and others ask for. it’s a bit of a lose lose doing that I think. But I know they’re out there. They’ve frequented the forums in the past.

when you get that feeling, just tell yourself to shut up and keep going. I promise you things will start to click. If you give up now, then your dreams of being a trader are gone. anyone that encourages you to quit doesn’t want you to succeed in it.

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Hi Bransor, I’ve just joined babypips and happy to tell you it is possible to be profitable from trading. I dont have a track record, my track record is I pay all my expenses every month from trading profits :blush: .
I would recommend going back to basics and re-learning forex and looking at your strategy. But whatever you do, dont lose faith. If you have more details of where you’re going wrong, I can give some advice. I’ve been through it all before! Best of luck.

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I can tell you assuredly that I am profitable in my trading. But this is of course not about me or my account.

If you really think about it, for every trade that is losing, there must be a trade that is winning. you just need to be on the right side at the right moment.

One thing you must really consider is the spread. If the spread is too big, your edge might not be as good, as most of your winning pips will go to the broker. One of the edge for retail traders are low spread.

My advice is, use demo account to learn more about the market(or until you are CONSISTENTLY profitable). There are no holy grail strategy. Winning strategy changes depending on the market conditions/situations. Understand how the indicators work and how the markets work and their relations, but remember, there are no holy grail. Always doubt your every entry. And patience is your best friend. Good luck.

I started coding trading strategies a couple of months ago, after trying for months to trade by just looking at the charts with indicators, and it has elucidated the art of trading for me.

It’s amazing just how wrong most of the trading systems are when you code them and then back-test on MT5.

The learning curve is quite steep for MT5 but you can code strategies on TradingView to get started.

I’ve also found that small timeframes like M1 or M5 are too noisy and give lots of false signals. It’s better to use higher timeframes like M30 or H1.

That’s right, not everyone wishes to share their his/her profits with everyone.

Hi, I’m a new trader.

I traded demo for 6 months until i was profitable there.
Then i went real with £500 and lost half of my acc in 2 weeks. I was gutted and thought all my dreams of being successful were over, because it just wasn’t working in the real world like it was on demo, and i didn’t know why. But i didn’t stop, i got even more into it, finding websites like this, learning to follow certain relevant economics news updates for potential catalysts to trends, i bought and read books by Van K. Tharp and Jack D. Schwager (Which i highly recommend doing), re-thought my strategy and since then, 10 weeks later, i’ve clawed my way back and finally tipped onto the profitable side, on a slow but steady uphill journey into profits.

This was very shocking for me trading real money, my psychology changed, and i had to adapt with it, i now respect this as a great skill that takes many many hours of dedication to craft, but now i believe i can do it. You can too, you just have to find what works for you. I’ve learned that no one strategy is right/wrong, you have to figure out your own way of moving until you get something that works because there’s so many ways of being profitable but not many methods will work with who you are as a person. If you struggle still, go back to demo and try out stragegies there first, use technical info for clues on trends and price action. Market Milk for example. Use these free tools to help you figure out what big moves could be coming. Analyse the markets, but also know that there are full time jobs where peple are paid to just analyse markets, so don’t be afraid to read what expert are saying and then decide for youself it it’s worth following. Learn how the markets work. EG - Gold tends to have 6 month highs and lows, and is affected by things such as presidential elections, Oil can be seaonal as perceived demand increases and decreases and hotter and colder times of year etc, read and learn, arm yourself with information that can help you figure it all out, then use demo to test these ideas. Stay hungry for success and You will get there. I’m not there yet, but i know i will be if i just stay hungry for it - that’s what i would say, if you’re truly hugry for this to work, you’ll keep at it until you get there.

Bransor,

Don’t ever give up but don’t place all your hopes and dreams on the market either. This will delay your journey to success. Many people, through great effort, find a trading system that works for them. What hurts most people is the idea that they have to make millions from nothing or hundreds of pips every month. Think small, be realistic.

I have found that a holy grail does exist and there is a reason for that. I hope to share soon but I will have to find out if I am allowed. It will blow you away. If I can’t share, then just know that you can be profitable to some degree given enough time.

I believe anyone can be profitable trading forex. I also believe you must have serious character traits. If you don’t have the character, it can be learned, whether it be gratitude or discipline. Avoid anything negative.

For me, this MUST be treated like a business.

Also remember, success leaves clues. Find a thread that has a bunch of hits and start from there. If traders are gravitating to the thread, there must be a reason.

Good Luck to all
Reno

What’s your background? I’ve been thinking about doing this, but wonder if it’s just too complicated for my brain? Are a developer or programmer by trade?

Ummm, and loses too! Ha! I think there’s a lot of that going around.

Any particular ones you found super interesting? i also try to look around at older threads that had a lot of activity years ago. Could still be relevant today.

Yes I’m a developer by trade. The tradingview scripting interface is a bit easier, once you understand that everything is a series (list of values) however tradingview only goes back one year with M30 candles. MT5 is far more accurate and has many years’ worth of backtesting data.

Even if it takes months of work to learn how to code strategies for MT5 then I think it will be worth your time, and it’s quite liberating because you can try out ideas very quickly once you have learned and coded a basic strategy.

Also I dare say that the investment banks may be interested in employing MT5 developers, so you could also find a new career path.

FOREX FACTORY IS PEPPERED WITH GOOD STRATEGIES. i’M SURE THERE ARE JUST AS MANY HERE.

I have 2 trackrecords at breakeven.
After 5 years I am loosing my feith too. :slight_smile:
https://www.darwinex.com/darwin/LSC
https://www.darwinex.com/darwin/CVL

Many mentors and “experts” but almost none shows a trackrecord… :wink:

99.9 traders lose their bucks.
So there is a 99.9 probability the market is completely random and efficient.
Even if you find a profitable trader with a trackrecord it could be due to luck and survivorship bias, inifinite monkeys theorem.

Trading has been my only thought for the last three years. I feel more like a gambling addict than anything else. This website is full of people who are not profitable, even the teachers, and pretty much everyone on the internet has their reason for hiding their track record. I honestly would push regulators to force educators to disclose their track records if they want to teach others how to trade.

Hey I am a totally beginner is the data for the demo and the real account the same I think they should be similar right?

Hi, for me it was not the same at all… I was allowed to use up to 500x leverage. As a noob at the time I didn’t know how dangerous that was… nonetheless I spent a few months trading demo learning strategies that Were based on 100-200x leverage, when I moved on to my real account I found out the max leverage was 30x and 20x for most markets, my strategies didn’t work with this and I lost half my account in 2 weeks and had to learn completely from scratch. Took 2 years until I finally became profitable. So make sure you know what a standard retail traders account rules are and that you are not learning to trade with a demo account that is different to a real one.

Haha… I’ve seen I made a post Dec of ‘19, at a time where I was still on the journey to success… I can now say that on march 2021 I am successful, it can be done. It took 2 years of solid work and real losses, using most of my free time researching and learning but eventually I became profitable and learned how to trade. Eventually things begin to click, you begin to understand how to trade, when to enter, when to get out, what news to pay attention to and what technical levels to watch. You learn things along the way which help guarantee and lock in those profits. All I can say is if trading success is something you truly wish for and desire, and you don’t give up, even through the constant losses and the frustrations and the revenge trades you promised you wouldn’t do and all the self doubting, you will get there. You learn from your mistakes, the more mistakes you make the more you learn. Each time I lost I viewed it as the cost of another lesson. Eventually I made back all my losses and had an account with more money in it than I had put in myself. I’m sure that moment is something every successful trader remembers. You have to have grit though, the markets will test you and you’ll want to f*** it all off and throw your phone/computer away because you can’t take another loss. It takes a lot of mental willpower to keep pushing through those losses as you learn but just know if it’s truly something you want, you’ll get there. Just don’t give up. Don’t be afraid to lose it all trying

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