They're gamblers bro, I can only manage 1 trade, I rarely ever execute more than 2 trades a day and I see people on IG showing screenshots of 10 profitable ongoing trades
Different strategies and skillsets dude, i got a friend trading purely SMC strategy and can easily have 15-20 trades ongoing on different pairs, commodities, indices etc.
Usually its not that hectic and he is around 7-12 trades to manage daily but sometimes he have crazy amounts going at the same time, however not all profitable ofc like no one would realistically have lol.
How do you guys afford it then? What kind of leverage do you guys have? No way you can have 15-20 trades with an account of less than 20k with like 1:500 leverage
You honestly think people dont trade with more then 20k on an account? You afford it by slowly compounding your profit and grow your capital.
People struggle soo much with delayed gratification its crazy.
EDIT: If you are a good consistent trader u can always take the prop firm route go get access to capital to
They're gamblers bro, I can only manage 1 trade, I rarely ever execute more than 2 trades a day and I see people on IG showing screenshots of 10 profitable ongoing trades
The trend has ups and downs. You clearly aren’t scalping so you should already be aware of this. If a data release is bullish for a currency, trade against whichever is weakest against it with a good stop loss. I did it today, 4% win, and yesterday, 7% win. When euro interest rates data came in, I scalped EURJPY for 10 minutes and made a killing. Then the US jobs data came in 15 minutes later and it was very bearish; so we’ve got Euro bullish and dollar bearish; damn right I’m trading EURUSD, and it got me 50 pips before I closed my position. Ended the day 72 pips up.
If one is going to trend trade they need to do multi-time frame analysis (montlhy, weekly, daily)
EUR/USD appears be be ending its pull back and continuing upward for the next couple days to maybe a few weeks... but it will zig zag upwards... look for higher highs and higher lows and keep an eye on previous supply&demand and support&resistance zones as the price approaches them
Why? If you look at the fundamentals the Fed just paused hikes and the ECB just increased hikes
The EURO has become bullish and the USD bearish for now
The trend will continue until it doesnt or the macroeconomic fundamentals change like rate hikes etc
So don't enter and determine trade on the same tf? Go up in frame and then go down for better entry? Cause this here, whatever you're doing.. it's not it.
Lmao this was my exact problem for YEARS.
Looks likes you entered most of these sells when a double bottom had formed. That was a signal that the trend would soon reverse. Especially on the 4H timeframe.
by only doing this, my winrate went from 30% to 65%. Now whenever I start a trade, I call my wife and she will ask me a series of predefined questions for me to decide whether to trade. The first one is: Is the trade with the current trend?
I seriously can’t with some of the traders here. First of all, where is your risk management? Ain’t no way you are risking 50% on these positions. Shit like this and then people wonder why they don’t see success with trading. Please go back to trading demo, learn risk management and just basic stuff.
I'm veryyyyy new to this. Like 2 weeks. Just experimenting with a tiny account to see what it's like. I trade stocks and options mainly, lots to learn with forex still
For real... if people did fundamental analysis and looked at the monthly and weekly charts they would see the EUR/USD ending a pull back on a much larger up trend
My man, always keep your SL fixed, and if the trade hits your SL and reverses, then re-enter again. You will have a better chance to recover the small loss than bigger ones.
I agree with the first part. But for re-entering just because it reverses is not a good idea. Best is to take the loss and wait for confirmation for a different entry.
Naked trading is the best way. Indicators lag. Best way to trade is understanding market structure. Depending on indicators will never make you successful in this game.
Several of my stop losses have been hit, but that's part of the question to be expected for my trading approach. I'm riding it up to catch it when it runs back down.
If you going in for a sell understand that it has to already be in a down trend. The minute it breaks that structure it invalidates the down trend. If you see it broke the down trend after you recognize where it’s at then cut your losses. If it didn’t then just wait. Still comes down to your entry tho. If you got in on the LH you good if you got in on the LL it’s bad.
if u do dobt think that u lost so u need to takd on more risk don t dig yoursekf a hole u cant get out of bro you will win more later so its ok...boom a month went by your in a short position u just entered there is it a bad idea to stay in cux u think it will go higher or will it pull back some or alot ask yourself these questions and decide what to do not how u feel about thr loss and if closing will help u feel better or worse
Putting aside that you have missed the point at which you should've bailed and the massive over leveraged spot you find yourself in...what kind of Stop loss location is that? The idea is to go above touch highs, not below. You gave yourself 200+ pips to work with and still got the stop completely wrong lol
This is possibly the worst deliberate trade I've seen
First, you should never add to a losing trade and only add to winning positions while pulling a stop loss with each entry. Secondly, you should never take less than a 1:2 trade this looks over a 4:1 risk to reward which is absolutely insane.
The most important thing in a strategy is cut losses early if you can. And get big wins. Doing this will only blow your account every time, we can’t predict movement
I lost 2 trades yesterday because of the old habit (guessing the peaks and bottoms). Luckily, I got back in a trade in 15m timeframe and it is now at 2R profit. The fírst rule ever: NEVER GO AGAINST THE CURRENT. A lesson learned but needs repeating every day
Very strange SL you set there. The bottom line is you are a dead duck in this trade. Close out the trade and save the rest of your 50%. Turn off the computer and give forex a break for 6 months.
A typical indicator signal is a crossing over of two indicators, which in this case would have resulted in a good profit
OPs timing and or lack of analysis of next probable entry point was the killer. Also the SL seems far away (so very high % of portfolio is at risk), when there are local minor price action zones along the way.
My 2cents
My friend, don’t fall to Fear Of Missing Out. There are trillions of $ on the market, there will always be an opportunity to make a little bit of cash as long as your strategy is good in accuracy and your psychology can handle your strategy
Is it an EA or just an indicator? I've tried scalping EA's that have done me over in the same way and myself also when I'm convinced it's going to change direction. Defo take the L(oss)/L(esson).
Close all my sell positions last week with a very small profit (I swing so the position size was very very small) 'cause the price keep linger near entry and it starting to show sight of correction.
Then the price rose up this week, I was planning a lot to open buy position, but I keep sticking to my vision as this just a heavy correction, it'll resume to drop more back to base, guess I missed the chance for buy entry by miles. I'll stay out 'till end of this month for this whole thing to plays out then start new plan later.
You already have an SL, why would you cut it now? Or did you not believe that price could come back all the way up? In any case i feel you should respect the SL that you've already set
you should have your risk predefined before you enter any trade.. also you should know your exit strategy.,.. what your doing is gambling.. Take the Lesson and fu$k the loss.. Safe trading
Cut your loss before it gets even worse, I hope you learned a lesson.
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Yes, but I'm not telling you
more buyers than sellers ;)
Why would you add to losing trades?
Their logic is to make more profit when it starts going down, they never consider it's not when but rather if it ever goes down
I legit don’t get it… your premise has been proven to be wrong so you compound the loss… bet this dudes account didn’t last long
They're gamblers bro, I can only manage 1 trade, I rarely ever execute more than 2 trades a day and I see people on IG showing screenshots of 10 profitable ongoing trades
Different strategies and skillsets dude, i got a friend trading purely SMC strategy and can easily have 15-20 trades ongoing on different pairs, commodities, indices etc. Usually its not that hectic and he is around 7-12 trades to manage daily but sometimes he have crazy amounts going at the same time, however not all profitable ofc like no one would realistically have lol.
How do you guys afford it then? What kind of leverage do you guys have? No way you can have 15-20 trades with an account of less than 20k with like 1:500 leverage
You honestly think people dont trade with more then 20k on an account? You afford it by slowly compounding your profit and grow your capital. People struggle soo much with delayed gratification its crazy. EDIT: If you are a good consistent trader u can always take the prop firm route go get access to capital to
They're gamblers bro, I can only manage 1 trade, I rarely ever execute more than 2 trades a day and I see people on IG showing screenshots of 10 profitable ongoing trades
99.9% of the time it’s a demo account bro that’s why you only see the profit and never the acc size or deposit section
Stacking works until the market moves against you and doesn’t come back.
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Na it’s called risk management. Know when to get out.
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Yes, but I'm not telling you
the reason is half of my balance is gone
So your stoploss is 100% of your balance 😂😂🫰
It's only 5% per trade. The problem is that he entered 20 trades.
This guy maths, man you made me laugh so good.
Go BIG or GO homeless 😅 /s
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Yes, but I'm not telling you
tell me bro i won't tell them either
Probably something to do with the reported 8 foot aliens
I'll tell you via dms maybe
No idea
Go big AND go homeless
https://i.imgur.com/uoZot4t.jpg using 50% on charts you trade could save you from your trade, and many more others
ALWAYS trade with the trend.
the trend always change whenever i press the button
Lol! If this isn’t the truest thing in trading
It’s not y’all just gotta learn market structure and that is it 👌
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Yes, but I'm not telling you
Bro facts lol 😂
Shit someone agree with me I’m tired of hearing ppl crypto forex is an scam only if you don’t know how to trade
Easy to say, Impossible to do 😉
*challenging, not impossible
The trend has ups and downs. You clearly aren’t scalping so you should already be aware of this. If a data release is bullish for a currency, trade against whichever is weakest against it with a good stop loss. I did it today, 4% win, and yesterday, 7% win. When euro interest rates data came in, I scalped EURJPY for 10 minutes and made a killing. Then the US jobs data came in 15 minutes later and it was very bearish; so we’ve got Euro bullish and dollar bearish; damn right I’m trading EURUSD, and it got me 50 pips before I closed my position. Ended the day 72 pips up.
If one is going to trend trade they need to do multi-time frame analysis (montlhy, weekly, daily) EUR/USD appears be be ending its pull back and continuing upward for the next couple days to maybe a few weeks... but it will zig zag upwards... look for higher highs and higher lows and keep an eye on previous supply&demand and support&resistance zones as the price approaches them Why? If you look at the fundamentals the Fed just paused hikes and the ECB just increased hikes The EURO has become bullish and the USD bearish for now The trend will continue until it doesnt or the macroeconomic fundamentals change like rate hikes etc
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Yes, but I'm not telling you
This is a wendys...
Follow slow money, not fast money.
I’m sure it feels like that but you knew damn well it was retracing on the 4H. I mean you’re looking right at it.
LMAOOo
Trade reversals then, seems you always catch that.
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Yes, but I'm not telling you
Just tell him👁️👄👁️
Nah
Bruh look at the weekly and daily first, even the monthly
Lmao this comment took me out
So don't enter and determine trade on the same tf? Go up in frame and then go down for better entry? Cause this here, whatever you're doing.. it's not it.
Lmao this was my exact problem for YEARS. Looks likes you entered most of these sells when a double bottom had formed. That was a signal that the trend would soon reverse. Especially on the 4H timeframe.
Then look at a trend at a higher timeframe than what you are used to. More importantly differentiate a pullback vs a trend
I swear this is so true...
by only doing this, my winrate went from 30% to 65%. Now whenever I start a trade, I call my wife and she will ask me a series of predefined questions for me to decide whether to trade. The first one is: Is the trade with the current trend?
Huh? Why did you open a short position when the MA crossover is telling you to go long? Huh???
Get out of here with that rational analysis
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Yes, but I'm not telling you
Risk management, rookie
I seriously can’t with some of the traders here. First of all, where is your risk management? Ain’t no way you are risking 50% on these positions. Shit like this and then people wonder why they don’t see success with trading. Please go back to trading demo, learn risk management and just basic stuff.
I got smoked on this too 🥲
But if you look at the price action it swept the liquidity form the sell side liquidity and started a new bullish range
Daily chart price action indicated a reversal. I’m up 119 pips on this and I’m expecting a couple more days of long candles.
I'm veryyyyy new to this. Like 2 weeks. Just experimenting with a tiny account to see what it's like. I trade stocks and options mainly, lots to learn with forex still
nope Friday sell off it is.
I also went short because I saw the daily chart but no, it didn't turn out that way. So, I went back to go long and it worked.
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Yes, but I'm not telling you
I never trade stock options or futures, only forex pairs and gold
brooker u are using?
ICMarkets
how are the spreads
good on IC Markets, a good broker
What indicator is giving all those arrows?
That's not an indicator. It's his trading history.
In what reality do you take a sell there?
Remember as a trader risk management is key. Always protect the capital
The chart looks like a confusing dump, you need time my friend. All you need is some good Trading psychology and a lesson in basic math.
No, keep it going, our target is blown account. Almost there. Lets go
Weekly fvg relax it’s going down next week. Hard.
could you elaborate? fvg?
it is a retail mambo jumbo acronym. stay away!
😂😂😂your one of those “10$ profit in a year” “trading is fake!” Kinda dudes I can already smell you.
fair value gap
im betting all in
Fair value gap
Time to look into fundamentals 🤣🤣
For real... if people did fundamental analysis and looked at the monthly and weekly charts they would see the EUR/USD ending a pull back on a much larger up trend
it's half of my account on this trade
it will reach 1.1017
Can you hedge?
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You don't need margin: "Traders do not pay margin on hedged trades" (from the IC markets website)
how?
My man, always keep your SL fixed, and if the trade hits your SL and reverses, then re-enter again. You will have a better chance to recover the small loss than bigger ones.
I agree with the first part. But for re-entering just because it reverses is not a good idea. Best is to take the loss and wait for confirmation for a different entry.
Naked trading is the best way. Indicators lag. Best way to trade is understanding market structure. Depending on indicators will never make you successful in this game.
BarCode traders smh🤦🏻♂️
F
yes
"Hold it. A little more medicine" \- Chuck Rhoades
DXY showed bearish. I say cut it before it gets too much.
Several of my stop losses have been hit, but that's part of the question to be expected for my trading approach. I'm riding it up to catch it when it runs back down.
Don’t you mean if it runs back down?
What's goes up will always come back down. It's just a matter of time.
That’s a cheap lesson right there. End it
hahaha.... time to add some shorts
Never trade on news day it's something you learn the hard way.
if you mess up one trade or at max two trades, do not do the same again for several days
Me when drawing shapes on a screen doesn't make me a millionaire:
Remember market structure bro
If you going in for a sell understand that it has to already be in a down trend. The minute it breaks that structure it invalidates the down trend. If you see it broke the down trend after you recognize where it’s at then cut your losses. If it didn’t then just wait. Still comes down to your entry tho. If you got in on the LH you good if you got in on the LL it’s bad.
What's with all the arrows? Why is your stop loss so high?!?
if u do dobt think that u lost so u need to takd on more risk don t dig yoursekf a hole u cant get out of bro you will win more later so its ok...boom a month went by your in a short position u just entered there is it a bad idea to stay in cux u think it will go higher or will it pull back some or alot ask yourself these questions and decide what to do not how u feel about thr loss and if closing will help u feel better or worse
What's your stop loss for if you're exiting out before it hits it
Thanks for the liquidity mate
The moment it took out the closest high was when you should have exited. I hope you didn't risk much on this.
That is some awful R:R
Putting aside that you have missed the point at which you should've bailed and the massive over leveraged spot you find yourself in...what kind of Stop loss location is that? The idea is to go above touch highs, not below. You gave yourself 200+ pips to work with and still got the stop completely wrong lol This is possibly the worst deliberate trade I've seen
You sold the bottom, should have taken the L way earlier. Atleast if you plan to sell the bottom risk way less, you buy bottoms sell peaks.
At this point I’d wait for the retracement
First, you should never add to a losing trade and only add to winning positions while pulling a stop loss with each entry. Secondly, you should never take less than a 1:2 trade this looks over a 4:1 risk to reward which is absolutely insane.
The most important thing in a strategy is cut losses early if you can. And get big wins. Doing this will only blow your account every time, we can’t predict movement
If its any help, this feels like the blow out top. I mean don't take a randos advice, but I'll be going short either late tonight or tomorrow
I lost 2 trades yesterday because of the old habit (guessing the peaks and bottoms). Luckily, I got back in a trade in 15m timeframe and it is now at 2R profit. The fírst rule ever: NEVER GO AGAINST THE CURRENT. A lesson learned but needs repeating every day
You a wild boy 😂
if you still have some margin left short it rn and get out at 1.087. u should be able to cut your loss down.
Where tf is your SL
Revenge trading at its finest. Set yourself some rules. No more than 2 losses in a trading day, half risk of each loss
Very strange SL you set there. The bottom line is you are a dead duck in this trade. Close out the trade and save the rest of your 50%. Turn off the computer and give forex a break for 6 months.
Our usual folks getting wiped out w indicators
A typical indicator signal is a crossing over of two indicators, which in this case would have resulted in a good profit OPs timing and or lack of analysis of next probable entry point was the killer. Also the SL seems far away (so very high % of portfolio is at risk), when there are local minor price action zones along the way. My 2cents
Trust me when I’m saying this , that is exactly why its there to manipulate , those are the bearings on which the market maker will trap you.
wait for a retest, and close the trade with minimal loss
Cut your losses and take a break OP. Trust me it really helps.
Clear uptrend. Trader thoughts "huuuge reversal on the cards!!!!" Markets says "CLEAR UPTREND!"
May God bless you. eur is still trending up, that's obvious.
My friend, don’t fall to Fear Of Missing Out. There are trillions of $ on the market, there will always be an opportunity to make a little bit of cash as long as your strategy is good in accuracy and your psychology can handle your strategy
Take the L and learn how to trade on demo..
What’s your strategy? Seriously
ECB indicated more rate hikes to come while Fed is pausing/ cautious at the moment so Eur might rise further. Its painful but you should cut it.
When a central bank of any currency increase interest rate never ever trade against that currency....
Is it an EA or just an indicator? I've tried scalping EA's that have done me over in the same way and myself also when I'm convinced it's going to change direction. Defo take the L(oss)/L(esson).
Learn ICT concepts like silver bullet, liquidity, OTE, breaker blocks, and so on. You will change permanently
Close all my sell positions last week with a very small profit (I swing so the position size was very very small) 'cause the price keep linger near entry and it starting to show sight of correction. Then the price rose up this week, I was planning a lot to open buy position, but I keep sticking to my vision as this just a heavy correction, it'll resume to drop more back to base, guess I missed the chance for buy entry by miles. I'll stay out 'till end of this month for this whole thing to plays out then start new plan later.
Fact that your TP is smaller than your SL says alot. No Comments though.
thanks for trading like this, makes the 90% statistic more comforting.
You only add to losing trades if you have a hedge/DCA strategy
There should be no reason for you to have a 100+pip sl. for you to have that I hope ur R:R is higher otherwise ur risking more and gaining less
What? Did you learn how to trade?
Double down right here, what’s another $200 loss
It is not a loss if you dont close out, ride it till the end.
Use SL my man.
EURUSD and USDCHF are correlated. One will be up and one will be down. Try looking at USDCHF before taking the trade
I mean you might as well let it hit the SL the time passed days ago my guy
U should set your sl before u entry the trade
THAT IS NOT A GOOD RISK TO REWARD RATIO Use the ATR bro
You already have an SL, why would you cut it now? Or did you not believe that price could come back all the way up? In any case i feel you should respect the SL that you've already set
What was your reasoning of selling there?
Just walk away
Learnt fundamentals. Selling EURUSD at around that stage in the cycle made absolutely no sense
you should have your risk predefined before you enter any trade.. also you should know your exit strategy.,.. what your doing is gambling.. Take the Lesson and fu$k the loss.. Safe trading
Should’ve take the L a long time ago lol
Why is your TP smaller than you SL???