Wanna discuss/vent something with people

Before you read, I don’t like to waste nobody’s time. There’s nothing in what is typed that will benefit you so you will just be talking with a random guy on the internet about random stuff :slight_smile:

Hello,
first things first, I’m not a beginner. I have been a trader (albeit a not so successful one) for years. I opened this thread to share what’s going on with me and get opinions from people since no one I know is involved in forex.

Little intro,
I joined this market because of money of course but it was based on the fact that a Dollar is worth a lot in my country’s currency and by just making a 100$, I could have the money I need for a couple of weeks or months, now the value of the dollar is even higher, I dare say 200-300$ per month is exceptional. A regular job pays me 160-300$ per month :confused: and it’s awfully FAR and has no future at all (English Customer Service).

Recently,
I have been relying on Some broker’s Bonus for post to trade for a long time because like I said the value of the dollar is high and I can keep depositing 100s and losing them. This way I trained and won a few bucks here and there. I’m currently at a point where I have taken a course in forex in technical and fundamental analysis from a trustworthy individual in my country and practiced with that info a lot and found I don’t like trading that way and I like Mechanical systems and indicators. i stumbled with indis and strategies for a long period till I got a lotta knowledge and experience. Last project I did using Hull Average went successful for 3 months but there was a trick in there(that indi repainted) and I knew this and thought I could manage it. but in Fourth month, the account was blown away (forum bonus 500$) managed to get 280$ profit during the 3 months with moderate trading.

Now,
All I can think of now is what to do and I sorta have a plan and I want to know what people think, am I right or wrong. did I miss something. I’m planning to leave that Forum bonus account behind because I’m sick of wasting time posting in that forum and that using that horrible broker. I only have 80$ to my name. I want to deposit these in some broker( haven’t picked one yet) that offer a high leverage like 1:500 or more.
before I start trading, I have been compiling and testing system these past months and arrived @13 successful ones That I’m yet to fully backtest them manually to find how they perform (For me).
I want to test each for 1 year back manually on my preferred pairs to get a feeling of the performance during a year. After that I will pick the system or systems that I’m most comfortable with and provide good results and start trading by just risking about 2-4$ of that 80$ per trade. and just take it slow (gonna take months) to reach a decent capital (for me 500$ or more). As I said, this might seem like Nothing for someone but again for me 1$=a lot of my country’s currency.

Would you think this is sound? or am I just gonna fail again? I will mention that I have developed absolute discipline, I’m not kidding, If I have rules like with any mechanical system I will stick to them like super glue and with Risk I do the same.

After all that do you think I stand a chance to move forward?

Further notes:
the systems I have to test are
-EURJPY breakout M15 (got it from FF forums)
-using T3 and Trend signal arrows on H1 frame (Trend signal is similar to ASC trend)
-OZFX system
-Laptrend
-60SMA (3Ducks system)
-Crossover 5x10EMA -Above/under 130 Open EMA

These are the most likely I will be making use of because they have been tested by other people over time, I want to pick 2 or 3 to work with in this manner. A breakout on a single pair M15 / T3 with arrows on two pairs H1 frame / Something else on two pairs as well.

After typing this I realize, it’s all crap but I felt like I needed to type to it and hear what people think ,like I said, consider it like chatting with someone :slight_smile: Thanks.

Thank goodness for the edit history feature! Your post is not worthless at all - trust me I’ve seen way worse.

Regarding your situation, have you ever thought of “upskilling”? You mentioned that your job doesn’t pay much. What about increasing your earning capacity so that you also have more $$$ to spare for trading?

Not sure if I got your situation right but I would recommend increasing your cash flow first before delving more into trading. Kudos though that you’re really putting in the work - not many people do that. But sometimes we gotta work even harder to get to where we want. So maybe taking up classes on other things you could develop will help? Programming, marketing, etc.?

Hope my response helps. And please don’t think your post is worthless! Welcome to babypips!

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If you’re faced with an insoluble problem, writing it out in as if in explanation to a third party can be a good way to see there actually are solutions.

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Oh, I just missed your article! Feel free to share your opinion here.

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Awww. :frowning: Your post wasn’t worthless AT ALL! :frowning: (Got curious so I read your edit. :sweat_smile:)

I can really relate to your problem regarding the struggles of a regular salary job. :sweat: And how forex provides a sense of hope for financial freedom. Huhu. :frowning: I’m from the Philippines. Given the plummeting economy here, the dollar is really worth so much. :frowning:

From what I’ve read on the threads here, I don’t think $80 would be enough to really grow your account. :thinking: My goal is to save at least $1,000 for a legit go at it. :slight_smile: (I’m currently on demo btw! Haha. :smiley: ) I think it’s suuuuper cool that you wanna try out different strategies and systems! :slight_smile: That’s what I want to do too. It’s gonna be more awesome if you share them with us. :blush: :blush:

I always say this LOL but Babypips really has nice people who would love to give you their thoughts. :smiley: Don’t worry!! :stuck_out_tongue: (I really hope you would bring back the post. :slight_smile: )

P.S. I hope I made sense. :stuck_out_tongue: Hahaha. I’m definitely not an expert! But I just wanted you to know that your post wasn’t worthless. :slight_smile:

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Hi JohnScott,

Welcome to the forums and yes, I agree with the others that your post is not worthless. I hope you’ll bring back your post again. It feels great to have someone to talk about your problem and I’m sure the members here (especially the experienced traders) are willing to help.

:slight_smile:

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Wow, Thank you all for the really heartwarming and helpful comments. I didn’t expect anyone to reply even if I kept the original post. And I didn’t know that the edit history is available to all members :smiley: lol . I tried looking for a delete button at the time I posted but there wasn’t any. I guess I’m glad it you were able to check it and you took the time to read it. I brought the post back.

Thank you for the comment :slight_smile: I did think about “upskilling” and truth be told, I had a lot of ideas for projects and such even before I took Forex seriously but all my plans got derailed somehow yet I haven’t given up on them. For example, 3-4 years ago, I loved Photoshop and loved creating social media designs and concept based photo-manipulations and I was improving and making some money from it but stopped since my laptop broke on me and ever since it’s still broken and I haven’t got the money to buy a new one. All money goes to necessities like food…etc (currently saving for it, prices TRIPLED recently). other stuff like, Taking a PT course can make me a certified Fitness Instructor which is something I am passionate about and have experience in, but not yet certified.

I think you’re right that I need to increase my cash flow before I delve more into trading. I guess I might stick to the small amounts I receive from the Forum I mentioned just to keep my head going and test more of the strategies I have without putting money I can’t afford to lose.

I have always felt that this is a good thing but haven’t always had the right people to share stuff like Forex with.

I brought it back :slight_smile:

I didn’t know people could read others’ edits :sweat_smile: . It was so weird when I opened the thread and found comments saying they read my edit…
Thank you so much for the nice comment :slight_smile: … And that’s exactly what I have in mind " How Forex gives some hope that you could make the income you want because real jobs are just too unfulfilling and have terrible salaries besides sometimes having no future improvement". In my country, it’s the exact same with the economy, terrible conditions and prices are going sky high and earning just a 100-300$ can have a great impact here on one’s life.

You’re right 80$ is nothing is this ocean, I thought using those with a tiny risk and after testing the strategies I have and picking a suitable one, would be good in terms of building that 80$ slowly over months to something bigger. But realistically it’s just too too hard and building for 80$ is gonna be super slow. You go for that 1000$, if you got a source to do it then definitely go for it :smile: . I might share the systems, when I test something and found it worthwhile, I will make a thread about it with the testing results possibly just to avoid wasting people’s time with stuff that don’t work at all.

For what I have seen so far, Yes Babypips seems to be a very nice community with a lot of good people. :wink: Thanks again very very much for the really nice comment, you made perfect sense.

Thank you :slight_smile: I brought it back. It does feel good to share this with people especially people who get you and understand what’s you’re going through.


That was a lot of typing and I’m a talkative b… :laughing: sorry about that and Thank you all for commenting on this. I’m currently working on testing the systems I have, trying to eliminate the things that are filling with clutter on the charts or stuff that don’t produce good results or provide comfort in trading, To arrive at the most suitable system and plan for me. As for that 80$ thing, I still haven’t got the money to deposit so I guess I will keep relying on The Forum Bonus I mentioned just because it doesn’t affect me financially and it helps to trade live to gain more experience. They gave a 100$ for all the effort I did last month, I thought I’d get more but that’s okay, maybe this Month I will get more and eventually in 2 months maybe I will have 300-500$ which would be good enough to trade with comfortably :slight_smile: But I’m still gonna trade the living sh… of that 100$ :joy: once I finish testing the systems and choosing the right one/ones.

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Thank you very much; let me read first; I’ll update you very soon.

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80$ is very low capital for live trading. If your risk percentage is 2% that is 1.6$. That means your maximum stop loss is 16pips (EURUSD). What’s your risk reward ratio? You can do one thing. With demo account try to find the strategy that works for you. Test strategy by doing trade on demo account not by back testing. Once you are convinced, come to live account. The bitter truth of trading most people do not acknowledge that you have to spend a lot of time to find the strategy that works for you. It’s a trail and error process.

I’m just happy you brought back your post! :smiley: Good job on sharing that with the community. :slight_smile: I remember that there was a very wise member who told me to continue posting about things that matter to me. I guess that could help you to open up to this super cool community too. :slight_smile:

I’ll definitely watch out for this! :blush: Haha. I think it’s gonna be interesting. :stuck_out_tongue: