So I have been trading for a few weeks , but I could only about break even (made a small loss) on my demo account … then I got a little demoralised and stopped for a while. I didn’t know if my strategy was working or not or if I should test another strategy.
Any advice from good, experienced traders on where I should go from here ?
Thanks alot …
Hi @CaiGengyang ,
If you could give us a little more info that would be great!
Would be great for you to post screenshots of a couple of trades. Not sure if you have that authority yet. You might need a few more posts.
For now, describe your strategy. And describe one of your losing trades, time frame, why you took it and how you got out.
I’m sure plenty of other more experienced members will be chiming in soon!
Frandlost,
KC
We’ll seems like you need a bit more experience,
We’ll which is it you either broke even or made a loss.
Depends on what strategy your using and when your using it, my advice is to test a few strategies to see if any of them work better than others in certain market conditions.
Don’t be in a rush to give your money to the market,
Keep testing until your confident in your strategy
i do not understand you did not lose any real money but still you got demoralise
i wonder what you will do if you have lost real money
maybe commit suicide
i think you need to work on the emotional side before continuing
I tried a simple trend following strategy :
5 EMA
10 EMA
Timeframe : 4H
When one EMA crosses over the other, buy. When the other EMA crosses over the first one, sell. Simple as that — I know, it sounds stupid, but i heard that simple strategies like these can still be profitable, but so far I lost about 1% of my total equity in about 3 weeks, took about 8 trades in total.
Lemme know how I can improve my strategies. Thanks alot !
people use mov av to get into a trade
and this might work sometimes and fail some other
i think mov av should be used to get out of a trade
and to get in discover area of supply and demand
just a pov
A few weeks is nothing really. Most people require years to get to a point where they’re consistently profitable. My advice is to go through the School of Pipsology here (in case you haven’t already) and to be patient.Take your time to learn and to practice. Aim to improve your skills, not to profit right away.
whats “mov av” ?
Ive already gone through the School of Pipsology
sorry moving average
I literally had a year of losses until I got profitable. It takes time but plenty of advice on here 
Then all you can do is to keep learning and keep practicing. As I said, success doesn’t come after a few weeks.
So what strategies should I try next ?
the one and only strategy the has been used since the cave man
is supply and demand
Think I will test some of the free strategies created by the featured contributors on this forum and measure the results … see if anything works out
The problem is you keep trying to use someone strategy and try to map the success rate with that.
Though you don’t understand how that person came up with the strategy, how it actually works (other than the rules), and what are the risk factors in this strategy.
You need to take a step back. Figure out what kind of trader you want to be before you even consider creating a strategy. You need to build a strategy that works for you and that matches your personality. Also slowing getting your emotions in check will help do wonders in the long run. For example what you’re experiencing in a couple weeks is way too short of a time for you to figure out if the actual strategy is ineffective.
If their strategies work , they should be worth testing — That way I don’t have to reinvent the wheel. I can always modify them to suit my own trading style later I guess.
And how are you going to modify something you don’t understand in a topic that you’ve studied for a few weeks. Like come on?
I used to use Support and Resistance lines, Trendlines and all that gibberish mixed wth some RSI and stuff like that and i was mostly profitable then back to break even, then a bit negative, back to break even, then back to positive and the cycle was endless for like a year.
What i’ve found out is just create a system that works. For me it an algorithm which is basically a set of indicators that tellls me when to take a trade, when to get out and when not to get into a trade. It allows me to not get into trades too early nor too late. The best part is there’s tons of free indicators out there, but as long as you know what you’re looking for it saves you a lot of time
Just keep plugging away. Its all about persistence in this world