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you can't follow your own profitable system because you get either too greedy or too fearful.
Simple reasons why most traders fail.
Remember that it takes an individual 10,000 hours to be considered good at anything. A pro athlete, a singer, a race car driver a CEO.. etc.. Same goes for being either a manual trader or an EA developer.
happy pip hunting!
~drgoodvibe
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Metatrader 4 - EA Live and Demo Hosting Solutions http://www.omegasupreme.com & Omega Trading Blog!
I just want to start a thread on Key factors which lets mostly in losing Trade.
Why a newbie starts losing trade, what are the measures which they must follow it up to be stable if not successful.
I hope much of you will like to share your experiences across for the newbie’s.
Hi markmuffin,
Don't think that losing is only for newbies.
There are hundreds of thousands senior traders and professional traders and account managers world wide who end the year in total with a loss.
It is only Warren Buffet who has up till now a flawless track record. So there is still a future for you as a trader...but remember: don't give up after a losing year
Regards...iGoR
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Success comes with knowledge. Knowledge comes with experience. Experience comes with time and hard work... (iGoR) MT Intelligence - Stats for fxigor1
Lack of training to understand this forex animal .. would be the biggest cause of losing. Winning is hard. Get a mentor .. who does not make money from teaching you !
you can check free signals on Twitter/facebook from 'breakforex'. 1600 documented pips in last 5 months!
Hmm there are lots of reasons.
I'd say the main one is a chronically poor strategy and poor information.
Look how an institution trades, then compare that to a retail trader.
And thats before you look at how the retail traders pricing is operated eg high spreads etc.
Its partly down to them taking 10 pips a few times, then living in hope waiting for a 500 pip loss to turn round.I'd call that bad risk management.
But really, I think u have to have good, no EXCELLENT data/rules in 5 or 6 areas to succeed.
Reading a "forex tip" then trading with bizarre risk-reward or spread cost will kill a newbie in no time.
So many newbies are trading in little more than guesswork. They used to say "the trend is your friend".Well ok, but it ain't no indomitable superhero..!
No, I really don't understand. But that's quite alright.
I feel that we are misunderstanding each other. I am not saying that you should simply open up a trade and "faith" it into a profit. That may or may not happen, but that is not a good approach.
But if I hand you a system that I can prove is profitable, and you can not make a profit out of it, YOU CANNOT BLAME MY SYSTEM.
You can only blame your self.
That's all I'm trying to say. Success happens in ourselves first. Be it lack of understanding or lack of "faith," it is not the system that failed, it is you.
I'm not claiming to be a prodigy at this. When I first started trading I lost many thousands of dollars. So let me point this out. If trading is the only way you have to make money, you had better be REALLY GOOD AT IT. I am a quality assurance auditor. It is my job to recognize what people are companies are doing well at and what they are not. You don't make money off of something you're not good at. So if you think you're going to take up trading with no knowledge and support yourself...
I hope that you have a rich wife.
This is hard stuff. All I am saying... and please don't get all angry again, because I don't see how that is necessary... is that if you do not have faith in what you are doing, then you need to do something else. If you don't believe that you will get more profitable signals than negative signals, then aren't you wasting your time. We're here for profits, not losses!
If you don't have faith in what you're doing, something is wrong. Either you're not doing it right, or it, in itself, is not right. I don't know. I hate bickering. But I'm not going to have you knock on a perfectly legitimate statement that helped me become good at what I do, because I know it can help others too, and in the end that's all we're here for. Folks, don't listen to him. Forex is a beast, but it's not a monster. You can tame it. You can own it. But if you think you're going to learn it in a month and have it be your only source of income, I can only hope you are really good at it.
As far as serious, long term trading is concerned, YES, FAITH. IF WHAT YOU WERE DOING DIDNT WORK, YOU WOULDNT HAVE FAITH IN IT. AND IF YOU DONT HAVE FAITH IN WHAT YOU ARE DOING, YOU WONT LET IT WORK.
jlgardner
Your English is perfect, as the Werander's.
My mother don't speek English, and my English is bat,
but this AH whant to kill everyone if your motherthong is noth English.
Just look his avatar-Rambo MT4.
Dimitriy
Linear Mode
