The forex market is just too unpredictable or am I just too undisciplined, as I lost my account once again.
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DislikedThe forex market is just too unpredictable or am I just too undisciplined, as I lost my account once again.Ignored
Dislikedwhich forex broker u recommend then? I been using hotforex for a while, din't know thse kind of things until you told meIgnored
DislikedThe forex market is just too unpredictable or am I just too undisciplined, as I lost my account once again.Ignored
DislikedOh and one more thing when you demo: Demo with an actual balance that you will ACTUALLY be trading with. So if you will only be trading with $2000 when you go live, ask the broker to adjust the starting balance in the demo account to $2,000 NOT some outrageous amount that they always give you like $10K, $20K or $100K. That way you can see realistically how much you are risking on each trade AND how it's impacting your trading profitability/losses and you can adjust accordingly. Remember when you demo, you need to set up the demo to be EXACTLY the...Ignored
Dislikedwhich forex broker u recommend then? I been using hotforex for a while, din't know thse kind of things until you told meIgnored
Disliked{quote} Don't trade with money you cannot lose. I recommend fxpro.co.uk ctrader ECN, UK FCA regulated I have lost many accounts before I became profitable. I think one of your problem is you are getting used to losing already. You need to go back to square one and really think this through of this is for you or not. I have open history on myfxbook link on my profile. You can take a look and see how it different from your own trades. Good luck!Ignored
DislikedThe forex market is just too unpredictable or am I just too undisciplined, as I lost my account once again.Ignored
DislikedThe forex market is just too unpredictable or am I just too undisciplined, as I lost my account once again.Ignored
Disliked{quote} Hi Tony, Sorry to hear it. I agree with everything Forexia has said above. Two questions ... (asked for their implications, in the hope they'll be helpful, more than for answers) ... 1. Do you know that your trading method/system has an edge? That's to say: do you have written results for 200+ consecutive trades on demo, from which you can work out both (a) the net profit and (b) the profit factor over those trades? (I'm not suggesting you should post them here, but the "correct answer" would be yes). 2. What's the maximum proportion of...Ignored
Disliked2) And then to get over the discipline problem, try to code your trading system in the platform and let the computer trade it for you. That way, your emotion will NEVER interfere with your trading and you won't have to worry as much with the discipline issue PROVIDED your trading system/strategy/plan is PROVEN in demo to be CONSISTENTLY profitable!! And if you are still losing money consistently, then it's your trading strategy/system that's the problem and you just have to keep tweaking it until you get it right. Good luck!Ignored
Disliked{quote}1. Do you know that your trading method/system has an edge? That's to say: do you have written results for 200+ consecutive trades on demo, from which you can work out both (a) the net profit and (b) the profit factor over those trades? (I'm not suggesting you should post them here, but the "correct answer" would be yes).
Knowing this info is not good enough, slightly better than rookies. You need more than this and I m not posting them here.
2. What's the maximum proportion of the funds in your account that...Ignored
Disliked{quote} This is the level everyone should aim for. I don't recommend auto-trading unless every single rule can be coded which is very difficult depending on the complexity of your method but the main structure should be coded. Don't trade outside of this signals that give you the edge. I bet none or very, very few has reached this level, regardless they are profitable or not. {quote} Sounds logically correct but not exactly correct. Openly declaring 1% and 2% as alarm ringer works for you and your circumstance. Definitely does not work in every...Ignored
Disliked{quote} The logic of Xela's statement lies in the need to not think...but know whether your system has a statistically valid edge. I am a lot less generous than Xela and would demand that the only way to quantify an edge statistically is to: A) Have fully automated rules that ensure that exact observance to those rules is enforced. That way you can validate the system without falling into the trap of any associated human biases; B) A system that has been comprehensively tested across as wide a veriety of market conditions as possible which necessitates...Ignored