What am i doing wrong?

Im very new in trading, i have took many classes, studied, spent shit load of money for that and i still loose. by the way i did better in demo than in real account. Feels just that im making money for my broker. Or is it just the forex market crappy right now?

Your're not better in demo... you think you are. Try demo for a few months and you will see.
Classes can't teach you what you can learn for free. The teachers themselves don't make money from trading but only make money ripping people like yourself off lol

Find a strategy that works when tested again and again then automate it, this way you take feelings out of it and you will see there is always something in trading that will get you eventually lol. Concentrate about the bad times and forget the good times.

That's your start

what strategy are you using at the moment to pick your trades?

Thanks for replies. Well, i have a mentor, he tells me some trades, but he hasnt been doing so well. I think he looks only resistants and support levels. I personally do my trades looking candlestick patterns. but i think maybe i trade with too large amounts, cos i noticed that when market drops when i go long and i see i have like 30 usd in minuses, i freak out and close the trade. Im scared to loose money.

Dump your mentor for a start.
If when you enter a trade and you 'freak out' it means you have no confidence in the trade in the first place. Personally I have found that you need to first figure out what kind of trader you are mentally first.
I need to define my profit and loss before I enter a trade and stick to it

I would advise trying many strategies on demo and sign up for any free trials that any teachers give only to get these strategies

just my thoughts

usually people are scared of making money and close trade as they do little profit and tend to keep looser trades.

If you are scared with your trade that means that you haven't been told about money mangement wich is probably the most important thing about trading to be sucessful at trading. It's not the strategy that you are using.

So if you haven't learnt that... you must ask your money back for what you have spent. Also there is enough free stuff on the web to learn all thoses concepts.

Good luck.

Hi,

Don't worry , it is normal that you lose a lot of money when trading forex. I think that you need to be less emotional. Create a system and stick to it. i will give you a small one if you want to :

1 - Fundamental :

Is there any major economical news events in the markets ? ( Like now there is a rate cut in europe, unemployment rate are increasing in europe, So overall data coming from europe is worse then the USA ) This will be the headline and the road to your trading operations. ( In trading language, search for opportunities to buy usd currency because it is safer then the others at least for the moment )

Are the Economical news affecting the pairs i am going to trade ?

2 - Technical :

What is the direction of the major trend ? ( Monthly, weekly and when confusion daily )
What is the direction of the intermediate trend ? ( Normaly it should be daily )

N.B : A very simple definition of a trend is : When the price is forming a lower high and a lower low , that means the trend is bearish and when the price is forming a higher high and higher low, this means the trend is bullish. ( Always measure the trend on the daily timeframe otherwise you will blow up your account )

Is the price overbought or oversold ? Is is trading on a previous technical level or not ?

Is the price retracing or there is a reversal ? ( If retracement, the price action should be slow and weak. If reversal, Price action is strong and tough = All this could be measured by studying the candlestick patterns or regular patterns )

Always and always try to enter a trade in the direction at least of the intermediate trend and never the minor one ( 1 minute to 4 hours ) . Always enter the trade once there is a break out of the trend and it should be supported by economical sings and data.

3 - Risk management :

It is very very simple : As a beginner, you should always risk 0.5% even less on each trade ( What is meant here is on the overal trades that you have in the market ) in order to make 1% .

After all, it will be ok if you lose 50 trades and win 50 trades, i think that you will be doing great.


Little application :

You want to invest 5000 $ in trading. That's ok as long as you ask your broker to open for you a micro account. That's mean that the value of the pip should be 0.10$. Once you have your micro account, you go there on your chart and you see a pattern that will trigger a trade.

First thing to determine is not your profit objective but rather the placement of your stops. If your stops are 100 pips away from your entry point, then you will enter with 3000$ ( Pip = 0.30$ ) , so if you lose you will have lost 30$ which is 0.6% and that's ok. You profit should be 200 pips away from entry and you will be making 1.2% on your account which means 60$.


Stick to this and i think that you will be fine. All you have to do is find the system that suits you and my advice for you, never ever trade on 5 or 1 or 4 hours chart, otherwise you will blow your account.

Good luck :)

1. don't look for mentor to learn how to trade, his way of analysis may not suitable for you

2. Build your own trading system, how you read the market and entry rules

3. position sizing, make sure you have enough equity to hold the pull backs before it continues to the direction of your opened position (if you're trading with the trend) because price movements will always makes waves, mind the lot size of your positions.

4. No matter how much you learn, all you need is experience (this is what demo account used for), once you've learned to trade, have enough experience and produce profitable trades (at least for 3 months minimum) start to trade with micro account to experience to trade with real money (you'll feel it different psychologically).

*Demo trading learning process can be faster if you have Forex Tester Software with updated data.

- that's what I think CMIIW -
😄

Siirup posted:
Im very new in trading, i have took many classes, studied, spent shit load of money for that and i still loose. by the way i did better in demo than in real account. Feels just that im making money for my broker. Or is it just the forex market crappy right now?

Fear of losing money may happen for a number of reasons but it's usually due to our conditioning which we've adopted over time. You have the potential to be extremely successful in the market but it is down to you, and you only, to find a system and a strategy which you're confident in using. You need to spend a lot of time testing the system in a strict manner. I would love to help you out and I speak only from experience, that is all I have, but feel free to contact me.

trend is your friend, I'm a beginner and trade daily with weekly trend with rsi, macd, stochastic indicators, 2 moving average (m7 and m20) on the principal graph with fibo retracements, support and resistance, sometimes andrew's pitchwork and that's enough to have good results.

wow with all this you're getting great results over at least two years? Do show us your MT4 statement. If you show positive results with all these for several years of live with real money I will quit my job tomorrow and invest with you!

lol

I'm not crazy to think I'll win around 1000 dollars or more per month, it's a just a game for me and I can't be behind my computer the whole day, 200 dollars is enough. Trend is your friend is just what I'm saying, how many beginners lose money because they think it's easy to trade with M5 or H1 graph... it's just insane.

That's very good gvtoupomai, i think that the income will always depend on your starting capital. 200 dollars for an account of 1000 $ means a lot of risk and surely not consistant profits. On the other hand, 200$ per month on a capital of 5000$ or even 10000$ will make from you an excellent trader.

In all cases, know that the average returns per year in the markets is between 20 and 25% with of course an average of 20% of drawdown.

If you want to put yourself objectives, then you can begin with 20% per year but with no more then 5-7% of drawdown. If you are able to have these results then you are a champion :)

Anyways good luck and excellent choice of time frames weekly and daily :) stay safe and nice trade.

I forgot to tell you, that almost all traders end up losing money when they trade on 5 min and 1 hour charts :) And those traders are called day traders and they are qualified by (Weak traders in my system ) They are the ones who will push the price higher when there is a down trend and lower when there is an uptrend. They are the ones who will allow to strong players to buy the dips and sell the rallys. Anyways, The economical context of the market as well as the political environment make things very difficult. No one knows what are the major directives neither the major directions of the global economy. So stick to your daily and weekly chart and i think that you will be ok .

true, true, roughly about 90% or people losing money in trading and 95% of them are short term traders

gvtoupomai posted:
I'm not crazy to think I'll win around 1000 dollars or more per month, it's a just a game for me and I can't be behind my computer the whole day, 200 dollars is enough. Trend is your friend is just what I'm saying, how many beginners lose money because they think it's easy to trade with M5 or H1 graph... it's just insane.

If it's a game to you then it is definite that you will always lose in the long term!

tradingexpert posted:
I forgot to tell you, that almost all traders end up losing money when they trade on 5 min and 1 hour charts :) And those traders are called day traders and they are qualified by (Weak traders in my system ) They are the ones who will push the price higher when there is a down trend and lower when there is an uptrend. They are the ones who will allow to strong players to buy the dips and sell the rallys. Anyways, The economical context of the market as well as the political environment make things very difficult. No one knows what are the major directives neither the major directions of the global economy. So stick to your daily and weekly chart and i think that you will be ok .

Time is irrelevant when it comes to trading...trend is irrelevant as well...in fact no such thing as a trend. What seems as a trend on a 15min is a retracement on a higher TF etc etc. It is all random so all you need is a sound system and great MM to get you over the line on the majority of the time if possible is my views then again I don't have a two year live record to show so my comment is as good as the next 98% of traders.

Siirup posted:
Im very new in trading, i have took many classes, studied, spent shit load of money for that and i still loose. by the way i did better in demo than in real account. Feels just that im making money for my broker. Or is it just the forex market crappy right now?

Use bots or try trading on cent accounts. You need experience. More. May be 10 000 hours, bro.