Chart based online trading is or would be simple in that -
From on any candlestick or bar, based on the price movement that followed, It’s easy to say - I would have liked to have entered there, and exited or stop and reversed there for a profit.
So all chart users are capable of easily seeing what should have been done after it has happened.
But being able to do this in live trading by predicting future price movement accurately often and consistently enough, is EXTREMELY difficult. All within the confines of a necessary (as we do not know where price will move to or when) stop loss to prevent an account balance wipe out.
there u go, predicting
i ain t got nothing to sell nor do i gain anything makin u believe that it is possible to be consistent in the market, but i just don t share ur view. cheers
that simply means trading isn t for every1 and is difficult to grasp, not that is a scam. try and study volume, that s my main indicator. if u d bother to look and really search what really works and what doesn t rather then focus on the statement on brokers site, u d probably think differently by now. there are quite a few good threads even here on BBPS, that cost nothing to go thro and are pact with usefull info u could use to atleast start breaking even. but ofc labeling something rather then put some effort in it s way easier. no offence mate, but i think trading isn t for u. cheers
in my humble opinion, most quit and don t have the patience to stick with it after a few trials and errors. most will label it as scam and move on, gives closure i guess. since ur posting still on babypips i d assume u still have hope and are looking for a way to succeed in trading.(pls correct me if i m wrong). anyhow, i can direct u to the material that i ve learned and that has helped me to get pass all these hurdles if ur interested in learning. there are 2 other threads that deal with volume right here on babypips that have tremendous value imo, and once u grasp the concepts(not that difficult) all u need is a lot of screening time and practice day in day out. u can post questions about what u do not understand and off u go. that is ofc if ur interested in achieving consistancy in trading.
u can start with these 2 threads. i learned about volume on my own reading books and trying to figure out how exactly to read volume in regard to the candles on the chart, but the real breakthro happened when i saw others doing theyr own analysis using volume. anyways, u can always ask if u have questions etc. u also might want to read master the markets by tom williams just to grasp the technical terms and later on apply them on the chart. hope this helps.
cheers
This business is not for anybody
If your strategy is not working on demo and with all pairs and in anytime and sessions then keep your money in the bank and spend it on your famillie
That is your opinion and your entitled to it. Even if I tell you I took a trade because the stars aligned does it matter? Simply put only 2 things can happen when you enter the markets and start trading. Either your winning or your losing it is very simple like flipping a coin and waiting for either heads or tails. Now the reason we are losing/winning can come down to a plethora of things. Again that’s only going to be important to the individual whose trading and more importantly why he/she opened/closed a trade. Instead of wasting your energy in beating a dead horse saying that 75% are unsuccessful in trading which is information that’s readily available to the public how about you try to figure out how you can end up on the winning side.
At the end of the day are you trying to make money via trading or not? Are you going to complain about the system and how we are underfunded in comparison to the big dogs? They don’t care for you or me and they’ll still be making money while your complaining about the injustices of the markets. Don’t fight the markets or try to reason or understand the markets. Just simply take advantage of signs the market is throwing and use that to your advantage in your own respective trading. I’m less worried with why the trade went the way it did as long as I’m on the side the trade is going if you catch my drift.
A lot of dead vibes here. My post really triggered a lot of attention. And it was unexpected.
Thank you for all your answer.
Never expected to make other people feel like me aswell. Some people are clearly turned down by this thread.
I will go into further details about the trades I took and went bad. But seeing so much attention, I don’t know if I should detail them here or start another post.
Well said. There is info out there that can help, you just need to find it. The Commitment Of Traders weekly reports can give you an idea of price direction. Pay attention to what’s happening around the world. For example, the CAD is strengthening and with the new pipeline expansion this will allow for the transport of more oil to the US which benefits the CA economy (at what cost to the environment, which is another discussion) strengthening the CAD even further against the USD. It’s even been said that you COULD see CAD on par with the USD in the next 3 years. So keep your eye on the strengthening CAD. However, IF (big if) this did happen obviously it would be gradual, so you would look for short opportunities along the way.
This is just one example of some of the crucial events that could shape a country’s economy well into the future.
It’s certainly not easy, not your typical 9-5 but like any successful businesses, any successful career it takes blood, sweat and tears…and a lot of dedication.
No, there is no hope with trading is rigged. My 44 years uncle said (I just convert into English):
“People playing this nrigged game/ lottery are giving their money to others that goes in Miami’s holidays and stays with 18 years old pu***es. Old men. With sagging skin.”
Hurt so much to hear this. I’m 21 (to bring a personal aspect of myself, unrelated to financial markets), pretty good looking and I’m dumb enough to be lonely. Hearing this and seeing it as real, my mind goes down. It turnes me down. Girls… nevermind. I don’t want to badtalk. But money matters.
He never tried. He said he knows people in debt (with 25k…), personally. Also others that committed suicide.
But checking this link (given here in this thread): https://confessionsofatrader.com/ can only proof this. No one succesful. Not only is not random, if it would even be. That would be a fair chance. But no. If you buy, they sell. If you sell, they buy. You stand no chance.
Sorry I personally disagree. I know some people that succeed in this and they became the pro trader. I wish I can simplify this but there are a lot of factors contributed to be a successful pro trader…
There are reasons why people failed… but it’s the same principle when people build their businesses. Most of them failed in the first couple of tries and it takes life journey and adventure to be a successful entrepreneur.
Listening to other people whinging about their failures is useless and those people will get f***ed again and again
You need to find where you belong, if this is not for you don’t do it. But if you think this is where you belong, don’t listen to other’s failures but listen from someone who succeed in the business. Man up and Good luck !
Well said. Look around for a good mentor who had been there, be teachable and follow his advice, one may save years of groping in the dark and tons of unnecessary losses, and shorten many years of learning curve!
It’s true, no one knows where is market is heading to, up, down or sideways. There are times one will make money, there are times to lose money and there are times to go fishing (by being standing aside and no action taken).
Most important is one needs a good trading plan, stand by it with discipline. Take care of the risk management and ensure one can live long enough (survival from the market) until tomorrow to trade!
Always remember, one has to lose to win! All winners do encounter losing streaks from time to time like all traders, no one can avoid that completely.
The difference between winners and losers are just that winners make more than losing, losers lose more than winning! Learn to manage one’s emotions and build up one’s EQ!
Trading could be very simple or complicated depending on one’s approach. Keep it simple and realistic! One doesn’t need to be a genius to become a winner! No one can beat the market, please don’t try it. But what one should do is to learn to beat himself, overcoming one’s greed, fears, impatience, impulsiveness, etc, bunch of human weaknesses.
Given long enough times of trading, one will slowly master to control one’s human weaknesses. That’s the time to start experiencing the fruitful and rewarding trading results! Keep it up, folks!
All charts only tell us what had happened in the past but they can’t tell us what will happen tomorrow! There are many differing interpretations on the same chart formation and price pattern by different chartists, anyone could be right some of the times!
To me, every line could be a resistance or a support depending on the next price movements. One can tell many stories and predictions just out of the same one chart!
