OK so here are the main reasons why i failed to make a profit from live chart based trading –
Not knowing where the chart price will move to or when, i had/have no crystal ball.
Having to cover the brokers spread before a trade position can move into positive territory. And then still not knowing where the chart price will move to or when anyway.
Needing to limit the maximum size of losing trades with a stop loss.
Extra pips negative slippage in terms of my chart entry and exit prices, and what my actual loss for that trade should have been in my trading account versus what actually happened.
On average I lost an extra 0.55 pips per trade, which is massive.
This occurred at around the same 0.55 pips extra loss per trade, whether I used charts displaying prices provided by my own broker or charts displaying a different datafeed to my broker.
This is a massive HUGE extra burden and confidence drainer to have to endure, especially more so trading off smaller time interval charts.
Charts displaying forex prices to five decimal places rather than four decimal places. The extra fifth decimal place makes the chart so much more user unfriendly to look at and read and was irrelevant to my trade management. Four decimal places was all i needed to see - pips, not pipettes.
In my opinion each of these contributing factors are massive obstacles, and big reasons why (as it is said) something like 90% of people who try online trading / chart based trading fail to make a profit.