Dear friends,
I have been trading a virtual account now for about 6 months. I have lot money each and every month. I have tried to gather information from countless books, videos, and this forums in the attempt to make my trading profitable. I use a simple risk management system (trading 10k lots risk 20 pips to make 50 pips). I believe I have a reasonable goal of 50-100 pips a month.
Would any of you have some helpful advice as to how I can learn to be a more profitable trader? Book/Video suggestions? I would love to find someone to maybe mentor me for a short while. Someone I could discuss my trades with and give me their feedback.
I have detailed reports on my last 3 months of trading but I really cant see where my mistakes are (other than I pick way more losers than winners).
Thanks guys
Look for a steady consistent equity curve and even more for a controlled and limit risk and look where your max. drawdown of your system is located. If you know that number, you know exactly what maximal risk you have and until which point your system works as expected.
Just my 2 pips.
Miami huh, my old stomping grounds, Miami Lakes/Hialeah/PSN, also am an HML graduate. Post your Blotter, and I might be able help you out buddly. Oh Block out your name and acct # hehehe
The Ever Remembering My Youth Wistfully VIPER
My friend if i only knew what an equity curve is, I unfortunately do understand most of this lingo… This seems to be the problem with most information I get… Its a bit too technical for me at this point.
It’s your accounts value, in simple terms.
Hi Themsah,
I am willing to help you out on your forex trading. I am also able to extend my help to mentor you until you get the basic skill on trading it profitably.
Cheers…