Consistently Losing

[CrazyCzarina 17]

Losing is the way to making more money in the Forex Market and the only way to lose less is to make more profit.

[aimhi 10]

Almost every new trader lose money in forex market so those who let go off these losses and move forward eventually become successful forex trader in future.

[CrazyCzarina 17]

The reason why many forex traders fail is that they have insufficient funds compared to the size of the trades they make. Either greed or the prospect of controlling a large amount of money with a small amount of money forces forex traders to take such a large and fragile financial risk.

[fxeconomist 11]

The key reason why traders lose is because they ignore money and risk management practices. If you make mistakes you have to make sure you pay as less as possible for them

[aimhi 10]

Every new trader lose money while some lose more chasing their lost money. Those who let go off these loses and learn from their mistakes eventually become successful traders in future.

[fxeconomist 11]

 

To overcome consistent losses in forex trading, it's crucial to reassess your trading strategy for any flaws or weaknesses and make necessary adjustments. Additionally, prioritize effective risk management by controlling your position sizes and setting appropriate stop-loss levels to minimize potential losses.

[aimhi 10]

There are many brokers like hfm etc which offer free demo trading to enhance trading skills so we can use them instead of live funds to make sure we got the right strategy and proper risk management to make money in trading instead of losing.

[barako 10]

if you are lossing consistently then stop balming the markets and start rethinking what you are doing consistently that results in loses, sometimes if could simply be rash decisions, in most cases no following the plan due to emotions, or simply lack of knowledge, the more u focus on your self the less loses u will have.

[aimhi 10]

There are more than 90% failure in this industry and the 50% of the remaining traders does not even stay in this market for even a year and they quit , rest are those who make their way to success.

[barako 10]

yup and the numbers dont seem to be shrinking, but one thing for sure, there are more and more retial traders with each passing year looking into forex trading. 

[aimhi 10]

The key is to learn and trade on a demo account before investing real money into live account. Demo trading helps a lot while they comes up with free virtual funds and real market trading conditions.

[fxeconomist 11]

On 9/11/2024 at 9:52 PM, aimhi said:

The key is to learn and trade on a demo account before investing real money into live account. Demo trading helps a lot while they comes up with free virtual funds and real market trading conditions.

The key reason why traders lose is because they ignore money and risk management practices. If you make mistakes you have to make sure you pay very low price for it. Thanks to HFM webinars I learned for free how to do that

[aimhi 10]

We should only invest to that extent which we can afford to lose in forex trading however, money management and risk mitigation comes up with spending some time in the live trading markets.

[fxeconomist 11]

On 9/18/2024 at 1:21 AM, aimhi said:

We should only invest to that extent which we can afford to lose in forex trading however, money management and risk mitigation comes up with spending some time in the live trading markets.

Yeah agree, that's why I use 1:50 leverage with HFM and pretty tight swaps to keep loss limited as much as possible.

[aimhi 10]

That may sounds quite interesting since the best thing is to protect your capital while risking it to make more money in forex or any trading business in my opinion.

[RJo 10]

This may be the toughest way forward, but it may lead to the biggest reward... Reduce your trading plan to automated code. My process goes something like this:

1. Choose an instrument, e.g., MES futures, GBPJPY, etc.
2. Determine the best chart structure (by eyeballing the price runs) for that instrument, e.g., 10 tick Renko bars, 10,000 trades volume bars, 12 minute time bars, etc. (I formerly auto-traded naked 55 pip Renko bars 24/5 on the GBPJPY at IG brokers... 2 reverse bars in the same direction = in, and 1 opposite reverse bar = out. It traded standard lots well enough that they terminated my live account. The nice thing about Renko bars is that you can simply count the bars in each run and take notes using pen and paper, and then multiply one bar's cash value by each win/loss bar count--minus spread, and +/- swap.)
3. Determine whether indicators are needed to improve identification of the price runs, e.g., linear regression lines, a 13 x 50 period EMA cross, etc. (It doesn't have to be perfect. Even if the strategy appears to be a breakeven or a slight loser, it might be worth further refinement. See step #5.)
4. Reduce your strategy to code. IMHO, the easiest languages to code are probably EasyLanguage, Pine script, and MQL4 (in that order). MQL5 isn't too tough if you're already an advanced MQL4 coder.
5. Backtest and auto-optimize the strategy that you've coded, across its inputs/settings, the chart structure/timeframe to which it's applied, and/or other instruments. (An unprofitable strategy applied in one manner can be profitable when applied in a different manner within the greater universe of your trading platform.) Depending on your given platform, commissions, swap, and/or spreads may or may not be included in backtests.
6. Demo test your automated strategy, forward. Again, commissions, swap, and/or spreads may or may not be included.
7. If your results are undeniably profitable (taking into account the differences between demo versus live trading), go live.

[RJo 10]

Update to the above Post...

• Re-optimize your strategy periodically (as appropriate for your strategy's given trading frequency) to make sure that you're always applying the strategy in the most profitable manner as it continues to trade, e.g., re-optimize weekly, monthly, yearly, etc.

Edited October 19, 2024 by RJo

[aimhi 10]

Thanks for sharing, also have a demo for backtesting and refining any current or new strategy before implementing on the live accounts.

[RJo 10]

On 10/19/2024 at 4:58 PM, RJo said:

Update to the above Post...

• Re-optimize your strategy periodically (as appropriate for your strategy's given trading frequency) to make sure that you're always applying the strategy in the most profitable manner as it continues to trade, e.g., re-optimize weekly, monthly, yearly, etc.

 

Edited November 3, 2024 by RJo

[RJo 10]

On 10/30/2024 at 2:22 PM, aimhi said:

Thanks for sharing, also have a demo for backtesting and refining any current or new strategy before implementing on the live accounts.

👍