What annoys you most in Forex

Many traders struggle with this issue, you’re not alone. In my opinion, a decent trading plan helps with that problem.

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Breaking my rules, when I fail my trading plan that drives me crazy. Usually in hindsight

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Previously, everytime I put my orders especially my initial TPs and SL, almost hit TP but suddenly hit SL instead. Oh yeah. This happens all the time! Now, not anymore. No more lagging indicators. Oh yes. I did the math and I find one that cures all. Works all the time! :smile::smile::smile:

Not just brokers education / course providers. The worst thing that I did was put my phone number down for a free book and my phone wouldn’t stop ringing. I never did get that book but was hounded by many overseas people. Why would I buy a $20,000 course with an overseas company who is not in my time zone which means no communication unless I changed my hours to suit ? I think the worst is the pushy ones who won’t take “no” for an answer. It’s easy to block phone numbers on iphone now and newbies can easily fall for the schemes promoted. Research, research, research !!!

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Yep !

Don’t DO THAT ! :rofl:

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Do you use pure price action instead?

Yeah. For example, take a look at Cable yesterday (Tuesday,30Oct2018).
I set aside $5000 for trading this pair. Leverage 1:100.
My trade setup is as follows:

Buy 0.2 1.28069 1.28132
Buy 0.11 1.28069 1.28172
Buy 0.11 1.28069 1.28338
Buy 0.11 1.28069 1.28606
Buy 0.11 1.28069 no TP

Sell 0.2 1.27903 1.27840
Sell 0.11 1.27903 1.27800
Sell 0.11 1.27903 1.27634
Sell 0.11 1.27903 1.27366
Sell 0.11 1.27903 no TP

Why those 2 prices? I have no idea. That is what this ebook taught me to do.
And, in case you are wondering, how and where did I get those TP levels? I am using Fibonacci. Yes. I drew out Fibonacci to pin point the possible next target levels.

So, this is what happened.
At 0400, price triggered buy stop orders. 4 buy orders were opened.
4 hours has passed, price seemed to get closer to trigger sell stop orders. So, what did I do next? Did I close all the buy orders? No. I did not. Instead, I added another sell stop order as follows:

Sell 2.97 1.27903 no TP

Yes. I did. A big one. Ok. Ok. I did the math. I have thought of all the possible outcomes I can think of. And, I can make this to work.

Eventually, price moves down further and crosses below TP4=1.27366. And, again I modified SL to 1.27366 for the remaining sell open orders and TP to 1.27366 for all the buy open orders.

The next day, I closed all remaining outstanding open orders.

Buy 0.2 1.28069 1.27030 Manually closed by and take losses the next day
Buy 0.11 1.28069 1.27040 Manually closed by and take losses the next day
Buy 0.11 1.28069 1.27030 Manually closed by and take losses the next day
Buy 0.11 1.28069 1.27040 Manually closed by and take losses the next day
Buy 0.11 1.28069 1.27030 Manually closed by and take losses the next day

Sell 0.2 1.27903 1.27840 TP hit!
Sell 0.11 1.27903 1.27800 TP hit!
Sell 0.11 1.27903 1.27634 TP hit!
Sell 0.11 1.27903 1.27366 TP hit!
Sell 0.11 1.27903 1.27040 Manually closed and take profit the next day
Sell 2.97 1.27903 1.27030 Manually closed and take profit the next day

End results: Overall profits. About $2000++
So, yeah. It works. Another day of successful trades. :smile::smile::smile:

This sums me up.

When I started out I would wake up in the morning, look at about 20+ pairs thinking I could always find an ideal setup with my strategy.

It became so difficult and stressful as I felt like I had to place multiple trades to become profitable. Then I realised that watching a few pairs and understanding exactly what you’re looking for is 100x easier. You get to understand how they move every day so it’s not a chore in the morning.

Ps. The most annoying thing in forex is the 300 Instagram ads I get a day with “I was broke a year ago and now look at me”

I understand that the odd one is successful and are just passing out their trades as an extra source of income but 99% have a very average system/nothing at all and just cash in on the gulliable and desperate.

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I had the opposite problem. I traded just one pair and I was too afraid to spread out to others,but I did overcome that fear eventually.

I hate when you think a trend is going one way and it does, but first it passes by your stop lose and the go the way you want it… aaaggg dame stoplose too close

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What annoys me most is being 100% correct about a trade, but still finding a way to screw it up.

“Wow, this place looks like an excellent spot for a reversal. I’ll set my orders up”

Some time passes

“Ok finally the price has arrived and my order is executed. Now I’ve just gotta wait for it to play it”

24 hours passes and price is in consolidation

“Ok wtf is going on. Bears should be swarming this position and crashing it into the dust. Why hasn’t it reversed yet?”

a little more time passes

“Alright, I give up and I’m going to sell at breakeven. Bears are looking pathetic today”

A few hours pass and an insanely strong bearish reversal kicks in

“oh…”

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That is the absolute worst feeling!

I hate when I have losing weeks.

or when I get out of the trade to early, or when I have several trades reaching my stop loss

I hateeeee that man, that’s why patience is key in this industry lol

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The most embarassing thing while trading is when my utmost and most favorable strategy goes wrong. You know there comes some points when you do not get a clue how to deal with the market. That is the most annoying thing for me, what is you story?

When I don’t have a clue what to do with the market I just avoid trading. I think not having a clue, trading and making a mistake is even more annoying.

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Happened with me several times

you would do well to redo the BP candle course and then patterns, reading even the simplest candle pattern is like reading road sign on a trip.

I am aware of that. Even so I prefer not trade news most of the time, technical analysis does not always apply to the initial reaction of the market.

understand that, didn’t realize we were talking about news trades, sorry