Physically mentally emotionally ,
Is there anybody out there who makes money right of the batt like dose trading come natural to anybody , like how some people are really good @ sports or math or spelling , idk I mean trading can be soo stress full sometimes haveing 3 months straight of losing trades is this normal for a pro … I have just been soo stressed out lately .
I don’t work I’m pretty young almost 19 been trading for about 2 years I live on my own ,
Trading is not for everybody I know this , but dose anybody just feel like quitting sometimes ??
[QUOTE=“Libertysilver;617660”]Physically mentally emotionally , Is there anybody out there who makes money right of the batt like dose trading come natural to anybody , like how some people are really good @ sports or math or spelling , idk I mean trading can be soo stress full sometimes haveing 3 months straight of losing trades is this normal for a pro … I have just been soo stressed out lately . I don’t work I’m pretty young almost 19 been trading for about 2 years I live on my own , Trading is not for everybody I know this , but dose anybody just feel like quitting sometimes ?? Or am I just to stressed out[/QUOTE]
When I mean losing trades I mean over all the losses are greater than the wins
Take a step back, you need to detach yourself emotionally from what you’re doing.
Do you keep records of all your trades? Hopefully you do. A month or two after a trade I go back to it on the charts and mark my entry and exit. I ask myself does the entry still makes sense (ie. did I follow my plan precisely) and was my management good? Being able to see it in the context of history allows me ask myself questions like: Was my trade management on plan? Could it be improved? If the trade failed, could I have found a second entry?
If you’re losing for three months in a row then there’s something wrong with your system or your trade execution. Trade entry is the easiest part, trade management is much, much harder and is where your problem probably lies.
I felt like quitting many times, but this job requires tenacity and the ability to handle being wrong - often. You also need to know when your brain is fried and take a few weeks off - I think you may be there right now.
For your next few trades, why not change your focus. Instead of looking for a big profit, make your primary goal capital protection. Get into the trade but protect your capital aggressively by taking money out of the market early, reducing your risk and then letting the trade run. This is a powerful way of bringing your confidence back.
I absolutely subscribe to this: unfortunately, there is a certain arrogance about us newbies, and it takes a while to actually LISTEN to good advice… When the experts and trading instructors on those oft-watched YouTube videos drone on and on about ‘risk management’, they are not just all a bit ‘soft’… they are saying this because they have probably been newbies themselves and lost money, perhaps out of that newbie arrogance, and know what it means to go for the big profits without thinking about losing and managing risk properly…
So think about giving yourself time to earn pips slowly, rather than going for fast and over leveraged, because if you run faster to the top you may also fall faster to the bottom…
Do not give up… read the comments on MarketDeal’s thread (about ‘not everybody can become a trader’) and see that you are not alone, and that a lot of people will have been through the same…
I think anyone who will claim they made consistent profits right away when they started trading have never traded before. We all learn by losing money which is a very important learning step in the process of either becoming successful over time or being washed out with the majority.
Trade at times does not work in ones favour, but the ability for you to carry on in face of the challenges is what makes you a trader indeed. keep pressing on and don’t feel stressed up, for in every businesses, there is a price to pay.
Thank you everybody for the encouragement ,
I think my brain is a little fried but, trading can be soo overwhelming sometimes like I said after 3 months straight overall losing trades almost things can get a little stress full I’m trying to learn how deal with stress & my emotions better , as wells use money management/ R&R more effectively
It wasn’t till I discovered Volume analysis that I made some tidy profits. Like any profession you have to invest in knowledge. You will surely succeed at your age I think you can choose now and forget all those crazy day job ideas. The financial system is money beast and if you can leech unto it then you will have everything.
Note like any beast the hard part is to sink your teeth in and survive its response.
Let successful traders mentor you through books. The experience is truly special. You will never stress again. When I started I was 60% win and 40 loss and still found I was down. FX is different from stocks as there is no leverage so I struggled with risk management in leveraged positions. I decided a system…
To share…Hope this helps.
mini account 10000 lot (1:00)
I enter a trade starting with a 0:50 position in a low risk area (as price and volume deem appropriate)
Low risk area is support or resistance. 90% of the time price action will tell you where you are on the order flow. Stress of entry is gone. Traders will say finding the looser, if you can’t find him, he is you…
Trade goes my way I add another 0:50 and place stop at previous entry or Take profit area.
Continues to show potential I add another 0:50 at this point I close my first entry and place stop at my second entry price. I have a pyramid. Say my third trade starts showing validated weakness. I close my second and 50% of my third so now I have 0:25 left in play at this point I have banked most of my profit and brought my stop to my entry on the last trade meaning I can’t loose anymore. If the order flow continues I come back in if not well…
In the event I am on the wrong side of the order flow having entered in a perceived low risk area. I close my position immediately regardless. Small losses are better regardless the market may reverse in your favour. That scenario would be a freak move making your being in the market high risk. I don’t need that…
If I get caught in a reversal the warning was there, I just didn’t see it I already have a pre-defined money risk on the trade which is a 1:3 ratio 10 for 30, 20 for 60, etc made easier to achieve when pyramiding. One that only comes into play on a reversal my stop will never get taken if I am on the wrong side of the flow. That’s just like waiting for a car to run you over and hoping the driver has a change of heart. I get out of the way and collect a small loss.
This is an example. Position sizes may well vary based on your profit balance but this will ultimately determine your exposure.
Hey dude, here’s your plan take a week off, do anything but look at forex, review your journal and review how your trades palyed out and how you would do it differently. Only trade demo till you see some consistencey, try using a simulator to practice on, best one is forex tester 2 which is like $200 or mt4i which you install on your mt4 platform and is free.
In your journal write about the trade you want to take and why you would take it and after you hit tp/sl write what happened.
Like anything worth having in life you got to practice and learn.
revisit your backtest results. Look for any similar drawdown that you’re currently experiencing in your backtest results. If it’s there, you should stop worrying.
reduce your position size until you’re winning again.
know where your drawdown kill switch is. This is your money management’s “stop loss”. If you hit it, stop all trading and redo your backtests, review your trades etc.
The hardest thing for Traders, is, [B]Adaptation[/B]
You must adapt to the action. You need to learn how to recognize exhaustion of the market/Pair.
There are a handfull of different actions the market will carry at different times… Whether its a time of the day or after a nice run, it will react in a certain manner… It has to stop and breathe, or collect its bearings. Thats what we call consolidation. At that moment, the pair has to decide what it wants to do next… Keep in mind, the market does NOT like this period of time… The longer it rests, the most likely, its going to breakout… Its building energy, as it sits there and rocks back and forth. Thats when you need to decide what you want to do… The easiest time for you to adapt, is the same time the market adapts or agrees… You understand? You dont try to jump on the train if its moving 45 mph, you dont jump in a trade when its moving like a train either… So, #1, use the train station, and get in line… Whats that mean? It means you buy a ticket, ( set your Limit order ) and get ready to ride… Great way to learn patience, but also give you a great chance for success with a decent MM program…
Thats just a example.
The moral of the story is identifying movement, and identifying rest times.
Another aspect to trading, is [B]problem solving[/B]
You have to understand, and breakdown the reason you lost… Its one thing to lose, but its another thing to lose, and know why you lost, so it doesnt happen again…
No doubt you cant be perfect… Thats not the motion here in this post. But when you learn why you lost, and know what to look for, or signs. it lessens the chances, and give you a higher level of success on a trade to trade basis. Understand?
You are scared because you do not understand it, those who do understand how to trade and so so successfully have no reason to be scared. This is another reason why education in basics and growing from that base is important and why it takes time and money to become successful.
I’ve got to the point where I’ve detached myself emotionally, well I think enough for the purpose, after so much time staring at the charts, you do eventually get blase about it at least.
So it takes psychology and a system, that you have to stick to, but it sure takes a hell of a lot of know how too, it must be that area I’m still lacking in.
Do not transgend your limits!! We must adopt different strategies and learn from our trading experience. Take my example, I’m trading from last 7 years and now successfully making money in the market… How? Bcz I try to be dynamic by adopting differnet real-time techniques in the market…