/biz/ - Business & Finance

Me every trade ever, wait on side lines.. price goes up,
Find another trade that looks good, decide to go in, drops 100%

>>14012146
How does one develop the stomach for this? I just want to throw myself in front of a fucking train.

Don't bring emotions into trading.

>>14012203
>How does one develop the stomach for this?
you need to develop confidence and that can only come through lots of experience and backtesting.

>>14012203
Learn fucking strategies, apply them.
Learn to use orders.
Think about what you are willing to lose BEFORE you open trades.
Set well stop losses.
Don't see if missed trades would have gone well, it's totally useless.
Look at yourself, improve your behaviour, what are the common emotions do you have? Fomo? Rush? Wait too long?
How can you change them?

use small lots

>>14012524
One step ahead of you, but they add up.

>>14013145
today's best forex traders probably wouldnt be profitable if they didn't use some variation of martingale. still applying a risk cap though

>>14012030
your chances trading forex (most competitive market on planet) (intraday multi trades) profitable is 0%

>>14013425
Is it different with shares?

>>14014297
he's wrong. the probability of losing money is greater than 0 for some.
it's also less than 0 for some.

>>14014695
I've read that 70-some percent of amateur forex traders lose in the long run, but I've heard that attributed to not setting stop losses and losing it all in one or a few fell swoops.

>>14015163
>but I've heard that attributed to not setting stop losses and losing it all in one or a few fell swoops.

imho it's not that simple. it's a lot of different factors and not setting stop losses is probability the least of the problem

>>14015276
What would you say is the biggest factor in a forex trader's long term losses?

>>14012030
sounds like you keep getting stopped out. have you tried to widen your risk level ? set ur stop a few above the resistance if your short or a few below the support of your long

>>14015969
greed
guy who mentors a friend who got me into forex has close to 10 years experience in the market, its what he does for a living
couple months back he goes dark on social media and then comes back asking dudes he mentored for 90k because he fucked up bad and needed cash real quick

>>14015969
never bothering to gain a truly deep understanding of how the market works by studying topics on order flow and volume. continuing to think it's '90% psychology'

>>14012030
Stop using a 10 pip stop loss. Give your trade room to breathe.

>>14015969
They dont realize the need to be a risk managment specialist first, and a trader second. Also tight stop losses will suck an account dry after being stopped out enough times.

>>14015969
btw, here's a million dollar tip. read ana coulling's complete guide on volume price analysis.
https://www.amazon.com.au/Complete-Guide-Price-Analysis-ebook/dp/B00DGA8LZC