How to make money consistently trading forex?
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Thread: How to make money consistently trading forex?

  1. #1
    Do you believe that can definitely make money trading just a couple of hours each day? I remember when I first started trading it was the number one reason why I began, as I searched online I discovered people were making a really good living trading a couple of hours every day. I was hooked, as soon as I began trading I began to lose money...I will share with you some critical disciplines of the way to make money day trading Foreign Exchange a couple of hours each day consistently. So during my years of investing in Foreign Exchange, I have discovered a lot and lost a lot. I really do hope you find these ideas of mine challenging and in case you've got more to add please do so. So I wish to go ahead and start off as learning and trading 3 key procedures that I found quite helpful, and to motivate you and hopefully motivate you to keep going.


    Procedure #1 Make points always. Concentrate on the factors not the cash, as soon as you learn how to takes points from this market then the cash will gradually begin to come. I am aware that it's extremely common statement, however it is my hope that this comes home to many beginning traders since from the struggles of trading day-to-day one forgets. . .takes a trade and right away wishes to look at their profit, occasionally they've lost so much, some begin to think about another trade and plogically manipulate yourself, of how far you've got to go, instead of understanding how far you have come.


    Procedure #2 Managing your risk is essential to earning money, because as soon as you make your points you need to learn to keep those points. Do your best not to enter every chance, do attempt to await the ideal chance and be certain to follow your rules. Be certain you are not just entering for the requirement to be right! Take it easy if you have made a few points call it a day and then come back the next day. Keep in mind the time you stay before your computer does not equivalent to the sum of money you want to create. ( Recall that! )


    Procedure #3 Managing your emotions is another crucial to trading, and probably the toughest of all. . .You may be trading demo at this moment and it's ok. If you understand your plan is earning money then decide on a deadline when you're likely to go LIVE, and test yourself, give it 2-3 weeks and begin to manage your emotions. If you believe you prefer to go to gets hands on instruction then go for this, but keep HUMBLE... I like to use this analogy, of pilots, when they train they train simulations and before flying a real airplane they're already equipped with over 2500 hours of simi flying, to be ready for this one moment and take action eventually they'll have to fly the true pane, but remember only as long as you're ready. If you aren't ready and needed little to no success, the best way to make money day trading is a procedure, and must be patient. So commit and you too will find achievement....because once I made a decision to commit it was once it was around!!!

    Please add more details and more info, would like to hear your feed back.

    Additionally I'll be posting more articles like the one, to help you get through the hard times of trading and also as well as to assist you with your own trading. Stay tuned.

    Pips for your Day, stay tuned! :
    https://www.forexforum.co.za/general...pile-list.html

  2. #2
    Quote Originally Posted by ;
    quote At the small money people are far more at risk. If you've got $ 1,000 and you also open 1 lot, 10 points is 100. But should you've got just one million dollars, you don't dare to open 1,000 lots.
    Then watch the dom, the profound of market, the liquidity provider. Even that dom is not exact calculation of the entire world but at least give some hindsight. If on this dom there not enough to settle that 1000 lots why if place that amount.

  3. #3
    Quote Originally Posted by ;
    quote Awesome twist in this. You need confidence to be consistently profitable and you need to be consistently profitable to have confidence.
    I think that it's worth mentioning that IMO, consistency is also relative. There are traders that make a little profit most days of the week, and there are traders that lose days of the week, but then have a monumental profit in 1 month or two which makes them cash for the entire week. In both cases, both traders could be considered consistently profitable. 1 trader is merely consistent over a day to day interval and the other is consistent over a year to year basis. On the day trader, another trader kind may seem inconsistent by looking at his shedding months, but that's obviously false if he's internet profitable each year.

  4. #4
    Quote Originally Posted by ;
    quote 10R added to equity, followed by several months of break even trading with champions covering losses, followed by a further 36R added to equity. My stats for this period was 30% win rate. Average losing trade 1R Average winning ~7R Im shedding close to 70 percent of my transactions and going months without a net profit on my account. I know of only one individual who left 2-4% nearly every month, and he isn't about any making me believe he had a blowout. Every other man I know who is profitable tends to go a few months or a couple months with no significant...
    I'm the exception. Why go months with no gains. I really don't get it. Why not make 100's of pips each week and increase your equity on a wonderful steady positive incline.

    Where do you get 2% a month from? Do you mean 2 percent of your trading account? That is the place I lose individuals together with the numbers. If everybody claims you should be trading no more than 1%-2% of your account, would not even a mildly successful trader be making two or three internet profitable trades a week and increasing their account by a percentage or 2 a week?

    Example- 100k account you make a 1k trade a few times a week and you win 3 lose 1 how can you get 2% a month if you're internet winning each week?

    The one thing I will say is if you're going 3 months without incorporating equity you may want to reconsider your trading egy. I'm well aware of the turtle trading egy and other trend after egies where the idea is to use repeated miniature stops and finally ch the large long fashion and ride it up for tens of thousands of pips using a 20 pip stop. All I will say is good luck. I am hoping your 20 pip stop survives smart money's 100 pip shakeouts. And good luck finding the tens of thousands of pips trends in todays range jumping ping pong price action at which the price stays in a 500 pip range for 2 decades and bounces back and forth.

  5. #5
    Quote Originally Posted by ;
    quote 10R added to equity, followed by many months of break even trading with winners covering losses, followed by a further 36R added to equity. My stats for that period was 30% success rate. Average losing trade 1R Average winning ~7R Im losing close to 70% of my transactions and moving months with no net profit on my account. I am aware of only one individual who left 2-4% nearly every month, and he's not about any making me believe that he had a blowout. Every other person I know who's profitable tends to go a month or a few months without any important...
    I hear you verv. One reason I trend trade is that it's among the few methods that can in fact demone long term sustainable outcomes. Below is a aspirational audited performance table of a well understand trend trading system and the resulting equity curve produced looked at through long-term lenses. However look at the worst drawdown stats as well as the string of monthly declines at the performance table as well. It is merely one of those things you want to suck up as a trend trader if you would like to try to create a equity curve of this sort.

    Each to their choice of trading technique, but the stats for trend traders demone that when speaking of an'edge' you really need to check out the Law of Large numbers to make certain you are not cherry picking.






  6. #6
    Another I'd love to state is that, one of the main reasons you are not making money consistently from the markets is because you are too focused on money. In reality, according to FreshForex, most men and women come to the markets pursuing freedom from their job or a fast road to wealth. However, what they don't know is that they are up from a test of emotional strength and their capacity to manage themselves within an arena of never-ending temptation; the Forex market.
    If you want to make consistent money in the markets you'll need to let go of all your fantasies of telling your boss to stick his job up his #$! Or trading from an exotic beach loion. You seethe more focused you are on making money quickly, the more you will be eluded by the money. This is only because focusing your thoughts on the money generates emotional tension, and the more emotional you're more inclined you should commit the account-destroying errors of over-trading and over-leveraging.

  7. #7
    Quote Originally Posted by ;
    quote I hear you verv. One reason I fad trade is the fact that it's among the few methods that may actually demone long term sustainable outcomes. Below is a aspirational audited performance table of a well know fad trading program and the consequent equity curve produced appeared at through long-term lenses. Yet look at the worst drawdown stats and also the series of monthly losses in the performance table too. It is merely one of the things you need to suck up as a trend trader if you would like to try to produce a equity curve of...
    Trading with trends is certainly a viable trading egy if it's done properly. Agreed. You will find others. Every egy has its plus and minuses. What's best is what works to your character, your lifestyle, your funding size, what you're comfortable managing.

    The market is basically an auction at which buyers and sellers get in and out. People who buy and sell at the ideal levels triumph, those who buy and sell at the wrong levels drop. That's it. There is nothing more for this.

    You cannot profit consistently unless you have confidence in your abilities. Unless it is possible to win you can not have confidence. Its a Catch-22 and till you figure than out you may be spinning your wheels.

    Excitement and boredom are just two of the worst account killers.

  8. #8
    Quote Originally Posted by ;
    quote I'm the exception. Why go with no gains. I really don't get it. Why don't you make 100's of pips each week and grow your equity on a nice stable positive incline. Where do you get 2% a month out from? Do you mean 2 percent of your entire trading account? This is where I lose people together with the statistics. If everyone claims you need to be trading no longer than 1%-2% of your account, wouldn't even a mildly prosperous trader be making two or three net profitable trades weekly and raising their account by a percent or two per week? Case in point - 100k account you...
    OK thanks.

    #Note to self, no longer 20 pip stop losses.
    #Note to self, don't trend commerce in a range.

    New and fascinating information.

  9. #9
    Quote Originally Posted by ;
    quote I hear you . One reason I fad trade is the fact that it is among the few methods that may in fact demone long term sustainable results. Below is a aspirational audited performance table of a well understand fad trading program and the consequent equity curve produced looked at through long term lenses. However consider the worst drawdown stats as well as the series of monthly losses in the performance table as well. It's just one of the things you want to suck up as a fashion trader if you want to attempt to create a equity curve of...
    Thank you.

    Yes day trading is potential but consistently? Never.

    Trend trading is simpler, and tougher. Holding players is the hard part, as is taking lots of little losing trades. As demoned in your analysis, it isn't consistent in the short term , but does work longer duration.

    ”They say that you never go broke taking profits. No, you dont. But do you grow rich taking a four-point profit in a bull market.”

  10. #10
    Trading Forex is among the most difficult jobs you can find because it deals a lot with your feelings, so you can only control 1 thing and that is your risk therefore stick with controlling this, finest at 1 percent.
    Always think in terms of points/pips gained and not cash.

    In Forex simple things only works again and again, you can trade consistently simply drawing some flat lines and trend-lines on your own chart (any time frame) and see how price reacts as it gets to these traces, but buy low and sell high using these lines as guides when to buy or sell any particular pair.
    Forex markets are very volatile now and I know you can make money trading any time, just control your risk 1 percent and set a limitation of loss or profit at that you'd stop trading a day.

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