thread: Newbies Mistakes

I know a guy. He doesn't tell me but I know that he went from rags to riches trading forex. He closed it when he made 20 percent a year after the investors had been angry at him and had his own hedge fund. They were constantly calling him.
But I know that when he started he did all the noobie mistakes. He trades in the Asian session. Only uses price action. Closes his rankings. No overnights. Consistently utilizes an emergency stop loss but doesn't care about risk reward. He uses stop reduction for circumstance. Brexit, korean missive, Democrat. But closes the position when the trade doesn't go his way. He told me that his prior flaws was that he had been stubborn. He wanted to win. And he told me that you are a winner once you shut a trade once you find the market change, lose or win. Soros used to perform the same.

There are, but not me for now...

Hi...I'm Bala
Of course there are lots of successful retail traders on the market....may be I will help.

Are there any successful RETAIL Forex trader on the market?

If you're not successful why would you take action?? Casinos are for gambling

Depend on who Desires to know and why

GS

Yet another one? ...

LoL, search function must be so old school...

Another one? ...

Hellp PF, welcome back.

Can I ask how much is the commision you compensated for ICMarkets compared to your own earnings? Do not need the actual numbers, only a percentage based off your earnings will perform. I am using ICMarkets too and the commision is really quite a lot and I am not even scalping as far as you do.

quotefollowing some stage it's hitting a point where it's less interesting, and at the large picture comes a need to balance work with lifestyle choices.

absolutely ! After all life is measured by the moments and adventures we pursue not how much we can earn per month, daily and every year. And it is too short to squander away on making pips every day each month. I discovered that sky isn't the limit with trading sky would be that the or should be the limitation if you want to be content and happy with your life.

quote Welcome back and here to stay, ... What I noticed lately, a side effect of being profitable, is that the person is taken out from this activity and generally sent in a vaion, give liberty and free time, ... It ought to be quite bad, since so many decide the other way! I personally seem to be struck by this side effects too! I try all the possible ways like go vaion and hope to be profitable after! Welcome back and here to stay, in a profitable way!

Hi aa4fx,

just like in an extent each job, it is important to maintain a fantastic work/life equilibrium to not 'burn'.
In a way it is inspiring to earn an increasing number of cash, but more not alone, but from the way it interpret to be able to perform or buy an increasing number of thigns that you wish to yourself.
Of course until a while it is hard enough to try to create (and maintain!) 1 week positive, one month positive, 10-20-30 winning days in a row, 1 year without losing month, etc.. .but after some point it is hitting a point where it is less interesting, and at the large picture comes a need to balance use lifestyle choices.
On this I dont mean anything large, not in a sense some youtube marketers makes you think it is all about Lambos or elaborate Michelin meals.
More such as the liberty to be able to take 1-xx days off from work. Or maybe slip on the grocery list a few things that you werent buying before... etc..
Just it is important to keep in mind that the sum to come. . .and not like most so often does, first invest, then try to earn it. I take out loans to buy things, and definitely not depreciating assets, such as automobiles. Cash guy. Credit card has one use: online shopping.

Currently I feel the month is negative, although I am up, the spending somewhat outpaced the earnings. Thus, it is easier to discover targets.
the current short-term goals: complete February without a losing day, and also make March a powerful month. Additionally thanks to VPS, the EA we're working on was running full auto the previous 2 weeks, and the result is real great. . .good enough it is going back to live account next week. Suppose there may be a few glitches nevertheless, and a few differences between live and demo benefits, but one can not know people ( and perform the necessary alterations) without assessing live.
This is the way it performed during the holiday, I know you like EAs (along with your current project is, I believe, the best long term one for you!)



happy weekend!