Has anybody ever had to experience this?
1 Like
you was enter the market @ right movement, that was it. i made 50k from 5k account when i was newbie, and after that period i started lose lose lose …well that was 12yrs ago 
Not really… just had more winning trades on demo but being knowledgeable in forex is very good.
2 Likes
Yes indeed - I started off just phoning in my bets and checking up a couple of times a day to see how they were doing (No demo accounts thoose days) - I did pretty well so I took 6 months off work to trade and learned through many books - it seemed the more I learned the worse my results were - it does get better after a while - but it’s not easy.
Part of teh problem I think is you never really know whether what you are learning is good - or bad ! until you try it out - use demo and keep trying.
1 Like
My first efforts in forex were very successful. It looks like I just noted the pairs that were going up and bought them and noted the pairs that were going down and sold them.
Later I decided to try to make this approach more methodical and that led me to try to increase my win rate and to do that I tried to eliminate some entry signals that weren’t highly reliable. the net result was I took fewer trades and lost money. you could call it chasing the wrong targets.
1 Like
Probably over complicating your strategy or it might have just been beginners luck.
If by understanding more about the market you mean applying more knowledge than there is on the internet, yes.
The best thing is, once you have learned the basics, forget about the internet and study the market on your own, draw your own conclusions.
Yes definitely thats why they say a simple strategy performed well beats an amazing strategy performed on average. Keep it simple when you see your edge take it.
I have seen a lot of newbies making profits in the beginning and then, making losses. The forex market is never the same and you cannot predict what will happen next. You just have to keep doing the hard work and making the most of the knowledge you have. Learn to make good trading decisions and you are good to go.
Could be that you overcomplicate your strategy or maybe it is just a beginner’s luck.
That you may call a beginner’s luck but one needs to understand that you will incur losses and profits both in forex so learn to be patient, make a solid trading plan and be consistent.
1 Like
That’s how the forex market is. You never know what will happen next. You must always be prepared for all types of situations, good or bad!
Yeah, it could be beginner’s luck only. Trading forex is not an easy game. Knowledge about the market and it’s working is a must.
Also, you must learn to accept your losses as these are also the part of a trader’s life.
Just keep working and believing in your strategy different markets will give different results but in the long term you will have the edge
Forex market is quite unpredictable. You will never get to know when the market will take a turn and you won’t see what you have been depending upon. It is always recommended to learn risk management so that you can make the most of the time you spend in the market.
Maybe it was random and can be explained by pure luck. Also you could be more loose in terms of setting stop loss or using risk management techniques and that’s why sooner or later any trade made were winning trade simply because prices sometimes revert to their original levels.
You can’t predict the market easily. So you need proper strategy for all types of market conditions.
As a forex trader, you don’t just buy and sell currencies, you take advantage of the market movements. It comes with practice. By reading, you will only get to know the basics but your real learning starts when you start to trade in the live market. Learn to make the most of market movements.
Trading should always be viewed simply. When a trader gains experience, he tries to make a profit by complicating the trading strategy, which is the reason for his loss.
yes you can be very lucky and profitable ,imagine been clueless but going long on the tech indices after the slump last spring and just letting it run