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What I Find

 
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matthewhydeman

What I Find

What I am finding for me, is that it is easier to lose on trades than to be profitable.

Someone mentioned in a discussion that some of us need to do the exact opposite things we are doing. It was a joke but I feel like it was somewhat true for me. ha.

I am wondering if anyone has any advice for me. Strategies, techniques, tech. analysis, basic fundementals, insight, advice, etc.

It would be much appreciated.

I am in silver 1. I have made it thru the courses and am trying to focus on being profitable.

Thanks much everyone.

Mon, 04/18/2016 - 1:48pm
 
findthetrend

I was in your same place just a couple weeks ago but have since started showing more consistency and profits. I can only say I've been studying this for 10-15 hours a day the last 2 months. Some of that time is trading, mostly demo, for 2 - 7 hours a day.
There's a lot I haven't mastered, but I'm seeing improvement in, such as finding a better time of day to trade, because when I was losing it was because of the time of day with no trend. Watching archives of Jeff Crystal's 5am webinar has been really helpful, but the most helpful thing was listening to him go over evaluating your time cycle/ price cycle and time of day you are trading. My biggest mistakes have been trading during times of the day where there was so little volatility that I was set up for failure. Finding a time of day where there is usually a trend, not a change in market direction, and enough of a price/time cycle to make a reward of 3:1 reward to risk is the most helpful thing ever. I'm still working on my ideal time, but being aware of that alone has bumped me into profitable, at least in my silver account.

Practice, study and correct time of day or finding one strategy that you can make work for you should really help.

 
Ramesh

Thank you Findthetrend fro very valuable comments which I do agree absolutely.It is off peak hours which are always very frustrating and will take away all our profitable trades forcing us to be either stopped out or close at loss.

 
findthetrend

EUR/USD has been awful to trade during the Asian session and I keep trying it because the spread is so low. JPY is much better for those hours.

 
4xNorm

Matthew Look at fx trading as a trap . The market makers want your money. They all learned the same patterns that you are learning and know how to set traps. They know the indicators that we use and when you will be getting in and will suck you in and run it the other way. The market makers are like sheep herders and we are the sheep. Study the charts and recognize their traps and learn to be one of them. Work toward less indicators and reading price action. Sometimes doing the opposite of what you would instinctively do is the way to join the smart money so don't laugh too hard when you say that. Good trading !

 
hakchinoy

During the Asian session, the PA for many pairs tends to be ranging. Although that's not so great for (short-term) trend-following strategies, it's absolutely wonderful for countertrend strategies and not bad for intermediate-/long-term trend-following strategies--provided sufficient volatility is in the market.

"The market makers want your money. They all learned the same patterns that you are learning and know how to set traps. . . . Study the charts and recognize their traps and learn to be one of them."

He's absolutely correct! Check out The Pain Strategy thread (https://apiaryfund.com/forum/pain-strategy) for more insight regarding their traps and strategies to avoid them.

 
hakchinoy

During the Asian session, the PA for many pairs tends to be ranging. Although that's not so great for (short-term) trend-following strategies, it's absolutely wonderful for countertrend strategies and not bad for intermediate-/long-term trend-following strategies--provided sufficient volatility is in the market.

"The market makers want your money. They all learned the same patterns that you are learning and know how to set traps. . . . Study the charts and recognize their traps and learn to be one of them."

He's absolutely correct! Check out The Pain Strategy thread (https://apiaryfund.com/forum/pain-strategy) for more insight regarding their traps and strategies to avoid them.

 
FXGold54

Matthew;

Just to add to some very good points already made. might I suggest you find A single strategy (as in 1) that you feel comfortable with and is appropriate for the time of day you trade. Although the FX market is open 24/5, it is not created equally. During the European and into the NY Session the market tends to trend more than the late NY well in to the Asian session where more often than not it is range bound.

That said, if you like to trade ranges, Asia is the session you want to trade. Conversely if you like trade breakouts and trends, Europe into NY is when you want to trade.

Also remember, learning to trade is an ongoing process, it takes time, patience and persistence.

Hope that helps,

Allen

 
plgarratt

I'm still working at trying to be profitable too. I've thought the same thing - just put on the opposite trade. Adding to what Findthetrend says - Have you tried using the ATR indicator? It will show times of the day when there's more volatility, more movement in the market. Like the EURUSD shows most activity 12-4pm GMT.