These are my go to pairs at the moment!
What time frame are you trading? Losing 20 out of 30 is tough. But 30 trades in 3 months is a long time to go between trades. So 10 a month. 2-3 a week. As a beginner, what helped me was going to the 1hr, 15m and 5m and getting a ton of trades under my belt. You get more feedback on your trading skills, emotion, and how your system is working or NOT WORKING. So if Iām losing 2 out of every 3 trades, Iām asking myself what is going wrong?
If youāre following ATās system or some variation of it, Iād obviously look at whether Iām ever going in the right direction? If so, then Iād check how many pips that is. What happens after? Pullback or reversal? Stop too tight? TP too high? Entering too late in the move? Getting out too early? It can be a couple different things hurting you. If youāre never in the right direction, then review ATās and other peoples entry rules. Maybe change the MAs. Maybe look for more confirmation. Maybe youāre not understanding how one of the indicators works or how to read the data itās giving you.
For me it was harder trying to figure any of that out trading the daily or the 4hr. And then my stops were too tight. I think Iām one of the few that actually stopped using SLs for a while when I demo traded and even when I had a small live account. This let me get a better idea of what price would do after placing a stop or TP in my head and then seeing what the outcome of the trade would be. I learned a lot trading that way. Not sure if that will work for you. I have a lot of time to sit and watch the charts.
Thank you. Let me keep trying maybe I will learn before I go bankrupt lol.
Whatever/however youāre trading, stick to demo and donāt trade anything with actual money until youāve done exactly the same thing on demo, without losing, for a minimum of 3 months AND a minimum of 150 trades (is my strong suggestion). Good luck!
I think I did like 350 trades my first year on demo.
Taking a break? Vacation?
Lol, I think I did that in my first month (Iām not recommending that anyone else should do the same!!).
Wow! What were you trading?
I wasnāt really ātradingā anything: I only thought I was!
Itās āonlyā about 16 trades/day, lol.
I was trying to scalp the Dax index (itās about the same as trying to scalp the Nasdaq). I mean, one can: there are even people who do it for a living (until they burn out two years later), but for a retail trader beginner, itās totally insane. I didnāt know that at the time, of course.
Yes. Iām traveling for a while. Be back to regular schedule in late September.
Happy trading!
Safe travels! My yen trades are giving me headaches as usual!
Thanks.
Yen sucks. I bet its been obliterating a lot of accounts.
When Iām on, Iām on. But man, when Iām wrongā¦ itās like a carpet pulled out from under me. No worries, Iāll just hold onto the position for a bit longer.
I hear you.
Iāve been starting with a small entry lately, then adding to it if its going in the right direction. If its going in the wrong direction, I keep checking to see if I should leave it open or pull the plug.
Minimum of whaaat? I guess am still a long way off. Thanks for the advice.
Lol, thatās about the minimum most people would need, in round numbers, to have a āpossibly statistically significant basisā for their method(s). Itās really terribly easy to think/imagine/hope, on the basis of demo tests, that somethingās profitable and find that the losses start when you try it with real money.
Iāve been there, and done that, My winning system came from losing money on real accounts, I made the right adjustment on the real accounts after doing so well on the demo accounts only to start losing money on real accounts
Funny how that works.
Yen trades all turned to profit! Love when that happens.
Iām at 337 trades so far this year.