I have been trading for 3 years now. I have had limited success. I seem to just consistently breakeven with my trades. I'll have a good run and then a terrible run and give profits back. Trying to stay a float.
I started out going to OTA and they teach good stuff. I wish it was as simple as they make it out to be. Its a good base and then you have a lot to from there. Within the last year I learned market profile and I'm getting better. I know supply/demand zones,etc. But I still seem to lack the edge I'm looking for? What separates winning traders from the crowd? I am great at reading charts and analysis but there's more to it than that.
I read that you should have a trading mentor. Someone with experience to guide beginners. While I believe I'm more than a beginner my account says otherwise. My best trades are trades that I set and forget. Normally swing trades. I've tried with zero success sitting and "day trading". Its not my best work. I will say that I've had really good trades(swing) that I've got excited and pulled too early that would've been very profitable. I am still working on that, getting better though. I keep my stops tight , I believe that's the reason I'm roughly breakeven. I'm not opposed to "day trading" with a consistent strategy. I know its impossible to never be stopped out.
That was long but I wanted to explain my background. My question is, are there any consistently profitable traders that would be willing to help an intermediate trader get over the hump? Email possible trades and get feedback, Skype, phone, Google talk, IM? I have no full time job, this is what I'm determined to do. Its taking me longer perhaps than most but I refuse to quit. Or maybe I'm paying my dues and there's a learning curve to it.
I'm available pretty much all the time. If anyone has advice or ideas I'd love to hear. Thanks
The following user says Thank You to rmiller863 for this post:
Hopefully after that, you will have a better sense of what is really going to help you.
Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.
Need help? 1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first. 2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses. 3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make. 4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance. 5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers. 6) Help using the forum? Watch this video to learn general tips on using the site.
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The following 3 users say Thank You to Big Mike for this post:
It sounds like you just need a solid confidence kick in the butt!
Since you already have a sense of the market but you r afraid to be wrong perhaps ?
My suggestion would be for you to open a micro forex account.
And trade with the knowledge of the market that you have already.
Learn how to accept to be wrong first!!
Micro account is nothing to be ashamed for, it will help you practice your trading set ups in the best possible way.
Again, you will use it to practice your trading set ups, your trading confidence!!! Not make a living out of it, that you'll do later
Since practicing your trading set ups in SIM does not engage you!! LIVE trading practice will very much so.
And since the market never does anything new, therefore all you need is to have trust in what you know already!
be LIVE and experience and be able to understand the emotional ups/downs all traders go through and not suffer a complete doubt and defeat in your business and your life!
Open an account with $100 and if you can make that into $200 then you are on your way!
.... lol I dare you to double your micro account!
Become your own mentor. You certainly came this far in your journey. Someone said something about 10,000 hours to master a craft! ......so what is a couple thousand of more hours here and there
You r very near your goal don't frickin give up now!
have fun with it enjoy this learning process @rmiller863
Last edited by Gabriyele; January 20th, 2014 at 12:19 PM.
The following 3 users say Thank You to Gabriyele for this post: