Lost trader need advice - page 2
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by the way
-- any winning strategy for less volatile -- cross-currency ?
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whenever we notice the trend, we are already lagging, than the market new trend --- anything we could do about that ?
Keep the faith
If you are lost in trading better stop trading
In trading failing is very costly and can cause just bigger problems than you already have
you need review your strategy. you should relax. when you open some account and you can trade with demo contest. you will get confident again. i try demo contest in liteforex, mayzus. when you lucky you can earn more money
Ive been there. My first deposit was 10k$ within 3 week I was down 60%. Trading was starting to be real problem as I couldnt leave the pc while I was in a trade, trading started to come in way of my engineering studys.
My mistakes was many, but all of them led to one thing, the biggest trap in this market, being obsessed with quick and huge profit, I was taking trades of every low timeframe: 1min 5min and 15 min. Taking a close look at small timeframes is that the potential of huge profit daily is there, as there will be loads of entrys and exits, however the drawbacks are bigger, there are so much whipsaws which you wont be able to filter out, also the stress factor is huge and will slowly affect you mental health, taking trades of higher timeframe is safer and less stressfull.
Now I know quick profit is bullshit, if there was such thing as quick profit many more would do it.
My tip for me is stop focusing on the wrong stuff like all the retail systems for sale which will make you tons of money every day beacous they wont, if you are subscribing to signals stop it, if you want to sucsess as a trader you will need to stand on your own bear feet with your own judges, and if they were so damn accurate why wouldnt the provoider just up their investment and take profit that way?
What I try to say is that everything you can buy in this busniess is usually crap and you should be very skeptical, spend your time reading real articels about analyzing techniques. There are tons of tools you can add to your basket and they are free you just need to study and read, invest time before investing money.
Yes keep demo practice but always think your exposing your trading skills by the time you go real is they already know what your going to unload.I think it's better to have more system before you go live.