Absolutely but you have to follow what you see in the market n make your decision n believe in your confluence even though you are not guaranteed anything 100%
Not to trade the trend! Thatās what Iāll remember. and stick to what you know, choose 2 or 3 pairs and stick with them, short term trades. Sure, Iāve had a few loses, but following that I also had many small victories too. So whatever happens on the news, what ever the new āPYTā is, I stuck with few pairs and followed news related to those only then traded with them short term, and itās been āOkayā for me. 2023 really taught me about consistency.
P-S. Thank you for organizing the Giveaway. Hopeful!
Thank you! and good luck to the Babypips admins and staff too. and a Happy new year!
Logged in after a year of absence and the first post I see is a Giveaway post!! Wonderful!
My Answer - Most I remember as a trader in 2023 is the way BTC moved. OMG! that was a crazy ride, Never thought it would cross 40K again and suddenly it passed that. That was a really memorable movement for me.
This year has really taught me a lot.
- I lost nearly 70% of my trading capital and I liquidated the rest.
- I got my dream of becoming an investment banker in my mid-20ās.
This is just a snapshot of what I can write, but overall, I learnt that focusing on my goals no matter the hurdle will definitely yield the needed results and Iām proud of myself for where I am currently.
Cheers to more pips in 2024
I can say that 2023 opened up trading opportunities for me though lately this year.
Iām glad I came across babypips just a few months later because it has had great impact on my trading journey. Iām so happy.
āThe market wonāt go anywhereā, yeah, thatās what Iāll remember, in this year I couldnāt trade for almost 8 months, but when I came back the markets were still here. So I learned itās okay to take time, thereās no rush, and thereās no ālast time to make profitā, itās always gonna be there and whenever youāre ready to trade, itās still gonna be there there will always be money to make.
From that, I started patiently waiting and learning more!
As a trader, what will you remember the most about 2023?
2023 teach me a lot in trading. first i learned why i blow my 3 trading account capital, it was totally my emotion, greedy and fear.
I am working on it and i hope 2024 will bring best for me.
I always heard people say/ write and āpreachā about how ālosing makes you strong, you have to lose to win , you must suffer before winningā I call all that BS! When you lose, you lose, when you win you winā¦I learned that a very had way this year.
Sorry to hear that mate. were you able to recover from that?
Not yet. But now a day i am not losing more. I trading with calculated risk and using EA to avoid Emotions. Hope i will recover soon
2023/01/01 had my best trading day to date, on a dilemma whether to trade in two days or take a rest on that day. one way I have my sweet memory of winning, and if I trade and that does not go as I plan it would overpower 2023 Jan 1stā¦ Still on the fence.
I didnāt find 2023 to be the most enjoyable year, but it was definitely a productive year.
Non-Forex Related
- I was able to achieve all of my non-forex goals as far as career advancement and then retirement at a fairly young age.
- Sold my rental property for a 6 figure profit after collecting rent from the same tenant for 13+ years.
- Paid off the mortgage on my primary residence to become 100% debt free.
- Wars, geopolitics, and the numerous extreme weather events have been something that I would have expected to see in movies not on the news. Itās almost apocalyptic.
Forex Related
- I didnāt trade for the majority of 2023 so it was both refreshing and challenging to get back to actively trading and to publicly journal my journey back.
- Iām thankful that 2023 was a profitable year despite a lot of rust. Hoping to improve more in 2024.
- I was fortunate to stumble across a simple but highly effective refinement to my analysis.
- Fortunate to be able to participate in the member spotlight on a forum that I respect and was my first meaningful forex course.
Things in 2023 that reminded me to be cautious and to remain vigilant
- FTX Crypto exchange scam
- Changes in the landscape of forex brokers being dumped off of MT4 by MetaQuotes.
- MyForexFunds getting caught up with some questionable business practices.
For me, Iāll remember 2023 as a wake up call starting with the collapse of the prop firm My Forex Funds.
Up until this year I had been somewhat sceptical of prop firms and had never taken a challenge. However, after seeing lots of people on social media getting huge payouts, I started wondering if I had missed out on something. So I decided to give prop firms a go.
I signed up for a $100K challenge with FTMO and promptly blew it. I then signed up for a couple of challenges with My Forex Funds. Unfortunately, they were abruptly closed down by the authorities in the US and Canada and I lost out yet again on a technicality so to speak.
Most people might have been put off by the ensuing revelations about MFF and the wider prop industry but, for me, it created a newfound sense of urgency. A lot of people were making a lot of money out of prop firms and I could be one of them. I just had to act fast before the winds of regulation swept through the industry.
I have been learning also from experience traders will proof of profitability and risk management techniques and I can say itās been an exciting year.
Yes, I got 3 account blown and Iām still learning to improve myself daily.
What will you remember most about 2023?
Oh yeah, I forgot to mention I felt justified in my decision to stay away from the crypto business after I saw how that Sam Bankman-Fried guy fried some people.
Discovering babypips site would be the highlight of my trading year. I came across babypips around last June and been around since, but finally decided to join the form just TODAY! Itās been an amazing year 2023 , and hopefully it will continue in this year too.
Realized it wasnāt enough capital, so added $1000. Got a $250 match from my broker on some promo they had, and I was slightly in profit last year, just barely!
Are you back in with a prop firm?
Hi @samewise
I am presently no longer funded because I only had one funded account with The 5ers. I totally messed that up, which I assure you wonāt happen again.
Currently, I am getting on with a $100K FTMO challenge. I will be starting another $300K of challenges with them before the end of January. I decided to stagger the challenges throughout January to minimise the risk of blowing all the accounts at once if I hit a particularly bad losing streak. That said, my goal is to reach maximum funding with them before the end of Q1. I fully expect to pass every challenge I take with them but as I like to say, talkās cheap and money buys houses!
You can follow my progress over on Londonās Funding Journey.
Trust me, 2024 is going to be epic!
Oh man, thatās awesome! Iāll be following along for sure.
For the staggering, is that all with FTMO?