true,less is more…as to answer @anon46773462 question first and foremost i trade to make money, ofc i love trading and it s a passion, i wouldn t see myself doing anything else, and then there s also the freedome of choice that comes with it.
I agree 100%.
In fact I would say the opposite: the more trades you don’t make, the more money you make! 
But sitting on hands with a screen in front is its own skill set! Like training a new puppy to “stay!”
I don’t think so, but what prompts me to pursue this is the number of Newbie posts stating that they want the freedom, to be their own boss, to have unlimited income ceilings, to get out of a job they hate, to supplement a small pension, and so and so on. Is it just a pipe-dream or can it be achieved and it is really worth it?..and is one really free as such (I don’t think so, I think one is much more tied as a trader than as an employee).
But what do others think?
1 Like
Trading is about making money and it’s like working. Traders need to learn every day, because trading is not simple
Hi @Piprookie. Interesting post! I am going to take some time out to think about your story before responding…will be back!
To me, @Piprookie, your post is very interesting! It seems you made a number of errors but have also been able to recognise them as such! - That is an excellent starting point and one of the prime reasons for working on a demo accont at this stage. It also shows that you are using your demo account the correct way as a development tool that frees you to concentrate on your method and management, as well as experimenting with various instruments, tools and approaches (TFs etc) - but without the stress of worrying about your own money at risk. This is good and you will do better! 
Obviously, I know little of your total method just from a few posts, but I am wondering how you are setting both your targets and your stops. -500 pips across 4 currencies can be both very much and very little! It all depends on you strategy. For a long term trader on, say, SP500, 500 pips is nothing much at all when looking for moves of 2000-5000 pips or more. But for a day trader, targeting 50 pips it would be suicide to allow such positions to disintegrate into an open -500 pip loss.
But from your comments that you decided to hold on and wait and tried to avoid margin calls by trading out of the loss situation suggests this open loss was far more than your initial strategy had anticipated - and suggests either you do not have money management parameters at all or they are not functioning properly.
Loss positions should never become a stress situation. The size of the position and the identified stop distance should, together, fit within the maximum loss per trade risk parameters in your management rulle-base.
At least, that’s the way i see it! 
BTW, @Piprookie, I noticed that you like to address people personally in your posts (always nice!) but I just wondered are you aware that if you prefix their Username with the @ symbol, the system will also send that User a notification that they have been mentioned? E.g. as in the format “@_______”
Hello Manxx, I love the discourse here. Am eyeing trading as a full time self employment exercise. To me, it is a whole world of mysteries! Am elated to fathoam these mysteries progressively. With my field in Actuarial science, am loving the idea of risk management coupled with the analysis bit (Fundamental, technical and sentimental). Am excited to have launched into this world. Hurrah!
Hello @anon46773462, I love the discourse here. Am eyeing trading as a full time self employment exercise. To me, it is a whole world of mysteries! Am elated to fathoam these mysteries progressively. With my field in Actuarial science, am loving the idea of risk management coupled with the analysis bit (Fundamental, technical and sentimental). Am excited to have launched into this world. Hurrah!
[/quote]
Sounds very promising! 
Seriously, in very basic terms you could divide your analytics into two critical areas:
-
How to make money
-
How to protect your money
If you can find a good balance between these two, then just keep on repeating! 
And when you get the answer, let the rest of us know how to do it! 
Thanks for all your very interesting info here. Somebody mentioned that you had a Youtube chanel?
Can you help me to find it please. It’s not there under the name Lang15, or at least dummy me can’t find it.
Simple answer is to make money and there is no point in pretending otherwise. I enjoy the challenge and job of trading but ultimately my job is to make money from the market. I am learning to do this as I feel it is a recession proof profession which is important to me with all the madness in the world now and also it suits me being my own boss who is accountable for all mistakes.
My reason for trading is to make money, pure and simple. Unless that is your motivation it’s a very dull hobby. I plan to retire with £5 million pounds in the bank, then i’ll cash out, except for a small amount (about 0.5 million) cos enough is never enough, is it?
I’m probably some years away from this goal as I (only) have about £50K in my account at the moment (!)
I’ll give 10% to charity as well, with a kind request that Buffet, Bezos, Tesla-guy etc consider doing the same.