Loser 2 Winner

[pipsaholic]

Hi,

For those who have made it or near making it in trading what changed it for you to make you profitable?

Thanks.

 

[Vaibhavi merchant]

According to me keep patient while trading.

 

[1pipatatime]

Deciding that the buck stopped with me.

Working out what I was doing that stopped me from being successful at trading and seeing that there was nothing there to say I was a bad person or anything but these were the area's I needed to work on, one at a time.

The biggest thing was to review my trades at the end of each trading session, this one changed my life.

 

[Haley12]

I got sometimes profit and loss as well. When I got loss in trading analysis my strategies but I follow some basic trading strategies such as using stop loss and setting pips profit limit.

 

[mingbao]

There are many experts predicting the market trends, however the result is unpredictable many times, and most important is there are many ups and downs all of a sudden and
every time when the market is volatile we can see many traders suffer a great loss, or even blew out their account.

They are happy when they earn the easy money, but what to do when great loss comes?

what make us profitable?

i think strong "inner peace" is the most important, you should take profit and loss as a normal practices and accept them. you also need learning techniques to make "right" choice the place the deal and the right decision to stop the loss.

 

[devis77]

I start reading more and taking advices from top traders. In addition I made a couple of rules on my own which I always follow, you know when not to trade, when I get losses to quit immediately, things like that. Also I check the market analysis and read news constantly, before every trading session. At this point the results are not superb, but I am not loosing money either.

 

[mingbao]

devis77, you had a good start. the most important is to be self-control. great fortune are not accumulated in a day. don't fancy overnight fortune in forex trading. yes, you had many chances to be rich in this field, and most probably trading like a gamble will be a suicide.

Good luck and keep going in this way.

 

[KhanB]

I stopped using s/l and started following the trend with less leverage

 

[pipbanker]

the change in the trading results was influenced by a total change in the attitude and the trading method.

 

[Fxpipper]

Patience, a lot of determination and of course, days and months of grunt work in trying to understand the volatility..

 

[humie]

i think patience is most important thing i forex trading

 

[Fxpipper]

Yes..

Definitely and as a matter of fact, whether you are into scalping or long term positions, you need tons of it or you are just going to go nuts!

 

[mingbao]

KhanB, in any circumstances you should use s/l, you can combine it with your other techniques. senior traders will also lose money, however, they can control the risk to the minimum.

 

[ezrydn]

Ironically enough, my trading jumped in profit when I quit using the large stop losses some brokers demand. It's easier, and more profitable to sit it out. Why wait for 150 pips SL to be hit? You know within maybe 5 pips it's going south. I don't wait. I punch out. Brokers have no SL to track me with and none to wash me out. Just pay attention.

 

[eyeball]

Doing what I call an autopsy on each and every losing trade --- dissecting the reasons both technical and fundamental for initiating the trade , my entry and exit execution,and trying to determine where my strategy misfired. I have learned that if I regularly analyze all losers , over time I tend to avoid making the same exact mistake twice, although its certainly not guarenteed .This presumes that one believes in causality ,i.e. that prices are not merely random in nature but rather are a consequence of actions that preceeded them, both fundamental and technical and are a manifestation of such actions.l

 

[ezrydn]

Eyeball's on target. You learn nothing from winning trades. You will always learn from losing trades, if you pay attention.