Whats wrong?

Last week i was able to be consistent, i got 3 losing trade and 10 good trade. And this week i got more losing trade then good trade. Am i being over confidence? Or juz plain greedy?

Just my 2 cents…

Some of the best traders on the plantet have a very low winning%

Lets say you only win 30% of your trades, but your average win is 4 times greater than your average loss. You would be profitable.

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Yes, exactly! Look it from that angle

Two weeks is a small sample size. It would be hard to draw many conclusions either way.

Did you use the exact same methodology to enter and exit trades the whole time? Or did you change your approach?

If you are concerned about over confidence or emotional trading in general, then you may want to consider writing down your trading rules and possibly even automating them.

Two weeks? Really?

You’ll need a few years of data, or c.1,000 trades to draw a statistically satisfactory conclusion.

Good luck and welcome to the rat race

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This is where back testing comes in handy. You can’t rely on back testing alone, but it can be a great filter for strategies before forward testing the most promising ones.

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It might be according to your trading. There should be no count how many trades we lose. If you really want to earn something than improving your analysis.

I do not think you are over confidence or greedy. I think it is normal for all of us. Sometimes we can’t make it out in our way right! I also think this is the phase you can overcome soon. But my suggestion is to you to take a break for couple of days and then start with full energy.

Man, after 2 weeks of trading it’s kind of stupid to put together trading statistics. Besides, the statistics % of successful/unsuccessful deals on forex isn’t an indication. The main thing here is the profit % that you get.

We have a same problem at the first winning then its turning to losing. I’m planning to back on demo again seems we need a break for a little while then test more the strategy

Yes… I think that returning to demo trading and enhancing the strategy is the best way

Don’t forget to look at the good trades, the winners -

Why did you exit them?
Could you have run them longer?
Could you have got a better exit?
Could you have pyramided them?
Was your position size big enough?
Were they great set-ups or just lucky?
Was your stop or target at a random level?

Also consider the trades you didn’t take. If your set-up(s) would have given only 13 trades in a week and you took them all and got 10 winners, you did pretty well. But if your set-up recurred 86 times in the week and you only took 13, then something is going wrong.

I think the best thing any of us can ever do as traders, is to make all our trades “good trades”, be them winner or losers. Anything else is up to the market, we are only trying to follow along.

Maybe.

Maybe.

Maybe you just get different results in different conditions, and one week was ideal conditions and the other was not.

Check it again and try to change your strategy somehow. Maybe at one time it worked, but sometimes it so happens that the strategy becomes useless.

That’s is called earning experience my friend. Notice that what you did wrong in your this week’s trade and try not to repeat those mistakes in next trade and see the results, you will definitely have more good trades. Best of Luck.

it might as well be both, trying doing what i do, lest say, on a weekly or daily, i set a small number of trades on my hotforex account with minimum expectations of profit, meaning, if a simply make a couple of pips then thats it, I minimize over trading even if there is always a windo to make more, simply ending each week on a positive number of pips even if its a mere 2 trades a week is way better than having 10 trades with a lose. you wont feel it but in terms of monthly return it becomes clearer and more enjoyable. learn to appreciate a break even situation and let go of bad trades, simply forget them.

Good result of your first trades. Unfortunately you haven’t develop a good strategy or you don’t know what you are doing yet. Quality of a good trader would be to get more and lose less.

My advice to you is to wait for the perfect signal. It is not a must that you enter a trade everyday. Some days are just bad for business. So you can as well take vacation when the market is not fruitful, depending on what pairs you are interested.

Focus of certain currency pairs, understand them, and this will help you know when to trade them and when not to.

You’re dead right mate. Experience !
I’ve been trading for 6 mths , I know now I just started off gambling. I’ve woken up , you don’t learn this game quickly. Patience, Diligence and Experience is what it’s all about I reckon.
Love it but not good enough yet :blush:

This is nothing worth mentioning, when you just make a few small transactions :hushed: