Journey to 2010 to 2020… Long time right… I follow many articles and many trading systems but from starting I follow the 200 EMA most. In my every system I apply this Indicator to see the trend direction. Every time I failed for my emotions, greed and overtrade. Those bad habits kill my good trade every time. Most of the trader leaves trading in that stage but I stick on my own plan and try to control it. As you know there is nothing impossible for a man. So I started to find my weak point of my mind and my trading system and finally I am doing much better than the previous time. Now trading is like a simple game. My advice to all new and old trader who is struggling, Just keep the focus on you. Listen to your mind and do your trade with a specific session or timezone.
I am giving one of my trading account journal here so that you guys can see and motivated.
fxblue(dot)com/users/fxzonebd1
Let’s talk about your trading style and what things are the main reason for your loss.
OP has the right idea. This is a supporting personal anecdote. To start this off, I’m at the end of a 7 month losing streak.
Greed and ignorance played some part in my losses, but not as much as one might think. The main reason I lost money was the exploration and trial & error needed to figure out what works for me. I rejected conventional wisdom to have a proven strategy before trading with real money. This is because I couldn’t convince myself of the “lie,” so I didn’t trade realistically with the demo. This wasn’t for lack of trying: I traded demo for about 3 months, it just wasn’t compelling to me. I had to actually risk something to grow, so I chose to start live trading and become proficient at protecting my capital.
It took me some time to realize I do best when I trade reversals at strong areas of support and resistance. To trade productively given the work / life constraints I have, I always use pending orders. Perhaps the biggest technical challenges for me have been finding a reliable enough setup for a pending order, filtering out the weak trades, building sufficient confirmation into the entry, and being on the right side of the market.
Until a couple of weeks ago, I traded price action only. Then I decided to comb through my trade history to understand what my most profitable trades had in common. Based on my findings, I added an oscillator to my strategy and trade only if a price / momentum divergence occurs at support and resistance. Thanks to this breakthrough, I’ve improved from a net -421 pips between August and October to +77 pips between August and today in just a couple of weeks.
As far as I can tell, the “one simple system” is discipline and relentless self-improvement.
