lately I have esperiencing this thing where every trade pick turns on me. even when I bought a currency with a solid uptrend, it ended up going down almost as if I my buying made it go down. I starting picking good ones and following the videos advice on fxcm, now no matter what I do it ends in the negative column. what should I do?
first off if your not trading demo go back to demo. Sounds like you confidence has been shook. I would recommend a break for a minimum of a few days to a couple weeks to clear your mind. Then get up dust your self off and get back in the saddle. I can comment on way your trades are turning against you as you did not offer enough info on how you trade for me to have an opinion other than it has happened to all of us at one point in our trading careers. Dont let it in your head and bring you down. I know it is easier said than done but it was one thing you must concur first is your own emotions.
purely sounds like a psych problem. Assuming that you actually have a trading edge. If you don’t have an edge there’s no way to expect to profit at all, so your frustration is the result of that. So you have 2 options 1) take a break and come back to trade either demo or small amounts live to get your game back 2) actually develop your trading edge so you have +EV and that should remove your frustration, or atleast temper it until you actually hit a proper drawdown.
Learning to trade would probably be the first thing to do.
Start by going back to the school of pipsology (if you havent gone through it yet do so). It sounds like there are basic fundamental problems you are having. As said above demo trade until you get over this problem. Everyone goes through bad patches and can feel discouraged at times. The key is you have to be honest with yourself and think is it your lack of knowledge/trading plan or is it just a bad patch/variance.
That’s no bad patch, it’s not knowing how to trade, there’s a very good thread at the top of this page, try there.
I have a micro account on fxcm, Is used the demo for a few months before getting micro. But I honestly don’t the demo didn’t do a lot of good. I Basicly dominated on the demo account, there was no real risk and I new it. I started of making good trades, only in the last couple of days has the trades been bad, but it has been enough to where half my gains evaporated. I want to get back to winning before I upgrade, know I am going to wait on that. I guess I will take a couple of days from trading clear my head.
Yes i know your right. Half the problem is admitting that to ones self which i think could be where the posters (and lots of other new traders) problem may lie.
take a few weeks or even months off. take this time to evaluate and reassess every thing that you can. be honest with yourself during this process
I personally just took at 2 month holiday over the summer, not only for fun but also to rest. Sometimes you just gotta take a break. Also volume slows down in the summer anyway. But I came back less than 2 weeks ago and i feel refreshed and am slowly working my way back into the game. Dont need to feel bad about taking a break from trading, the markets will always be there.
That happens to all of us - we have one of those days, it usually rolls around like clockwork esp when the Fed or some other earth shattering announcement makes the headlines. If you are no longer sure about your trading ability or feel the need to hone your strategies further, do a demo or better yet, since you are a trader already you can go in for a mini account. Good luck!
am sure there is a lack of proper use of strategy in your trading. You should use stop loss which is a protective tool to help minimizing the loss in case of market movement against us. And there are lot of people who are using it regularly in there trading.
I always make a habit of using stop loss in all my trades because that is the only way to ensure that I steer clear of another margin call.
You are just having the tipical traders emotional rollercoaster. Happens to all.
Ha, have lost count on the number of times I said “this is nuts, giving back and heading to a 9 to 5” and guess what, still in this market.
yes, you did not miss a lot, except for those supermario draghi moves 
must’ve been a fantastic… and really refreshing two month break
Most people I think feel this way, its just a case of learning to trade until you can get it right
Looks like it’s better for you to go back to practice account. And get yourself a mentor or coach who will tell you what has gone wrong? My broker Fxprimus provides coaching service under “Fxprimus Coach”. You may check with your broker whether they provide a coaching service too.
There is nothing wrong as long you practice good risk management. You have to read, read and read, also practice but forget about demos. Eventually you will get the idea. Nobody masters any skill overnight. This is the most stressfull job in the world, you have stress every second, not everybody can survive. Forget the easy scheemes and the magic systems. Forget the hig winning ratios scheemes. Accept your low ratio, mine is less than 15% (proud of it) but I am still making some dough. Increasing your winning rate only will increase your ego and you will become more reckless wich is bad. Never say “I can control it” because me after years I cannot do so, what keeps me ahead is that I take my time off time to time.
One more thing, from my personal experience, the best set ups are those wich I take when the idea comes as a revelation when I let my instinct act by itself, normally I take and analyse the data but the interpretation of it is made by my subconsience and the answer always comes suddenly and unexpected. Forget about sitting in front of the screen and waiting for the oportunity comes, it only will stress you out more. That is for stronger people wich most of us are far away from it. Another big mistake, most traders wanna be day traders but it is the most difficult type of trading and for me the less exciting and the most boring.
If you bought on a strong uptrend and it ended up in going down that may be the counter trend. Its just not sufficient to be along the trend, its essential to choose the ideal entry level as well.