How much do I need to grow my account per month to be considered profitable. I understand technically its 1% but I doubt that's what people are talking about when they say profitable trader. You know, if you're making a profit, then you're profitable—
I am sort of new to forex, although have spent months learning the market/patterns etc. Have been practice trading on different pairs, but have liked USDJPY the most so lately I have focused on USDJPY. Was wondering if you all have had any tips on making a trading strategy?
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and then backtest them? is there software that helps with strategies generation? strategy quant x seems to be a garbage generator Strategy Generators, like Strategy Quant or Forex Strategy Builder, by the way they work always overfit. You’re giving a computer data and going “find the best combination of
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My current M-F 9-5 job is physically demanding, having severe back issues for years (its getting worse) and would like a new career where i wont be damaging my body. Im strongly considering Forex day trading as a new career. Im currently learning on youtube. I dont wanna quit my
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They both matter, but I'd say entry matters less as you can move your entry point with averaging after you get in. You're a little more committed with the exit. Retail is obsessed with entry and it’s one reason why they lose; no one ever
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You know, it's interesting when you really think about how the world functions—it often revolves around a reverse risk-reward (RR) system. This concept actually applies to trading too, even though just about every person selling a trading course will tell you it's impossible or unwise.
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If you want to make money like the 10%, you can't trade like the 90%.
Everyone's always talking about the profits in trading—the big wins, the hefty payouts—but hardly anyone seems to factor in the time we pour into getting those gains. I mean, what's the point of making a ton of money if you don't have
So, you've just funded your trading account and you're eager to dive into the markets. Exciting, right? But before you jump in headfirst, let's talk about how to avoid making your hard-earned money disappear faster than you can say "Forex." Here are
The quest to feel good is why humans do things like drugs. But to make money trading you have to avoid wanting to feel good. Professional traders lose a lot; if I got a 40%-win rate, I lose more often than I win (obviously). But, if my entire quest
When a new daily candle is drawn, the TP is the midpoint between the open and close of the previous candle. SL is 2:1 (yes, negative R:R). Don't be a fool and enter the trade at rollover, wait a bit over an hour and get in
It's so simple, you don't even need a chart. Candle stick charts were invented to update once a day and show you OHLC (Open, High, Low, Close). People made money trading way before all this computer stuff came along with like 5,000 indicators at your
For my swing trades, I don't use a TP at all. There's just no reason to limit my upside. I limit my downside with a SL positioned at a point where I'm willing to reverse my trade. Ex: If I'm long, the
I've been trading for about 4 years and I bought the Photon Trading Course and I will admit it simplified trading on a theoretical basis... But I just keep losing trades. It's so disheartening considering that I don't really have anything else to turn
More leverage is like a credit card with a higher limit, just because you have a higher amount you can borrow doesn't mean you actually have to use it. More leverage doesn't equal more risk unless you also increase your lot sizes. Margin trading allows traders
So, there’s been this popular idea floating around among central bankers since the inflation chaos post-COVID: everything’s changed for good. A lot of folks are convinced that we’ll never see zero interest rates or negative rates again, and that the neutral interest rate has gone up. But
OpenAI's ChatGPT Search Feature OpenAI recently added a search feature to ChatGPT, allowing it to pull info directly from the web. This helps users get up-to-date answers and quickly access recent news, events, and real-time information. Meta’s Robotic Hand That Can “Feel” Touch Meta, along with GelSight
In Forex trading, many new traders ask questions like, “Why did this currency pair move up?” or “Why did the market react this way?” While understanding the market's mechanics can be helpful, experienced traders often say that asking “why” is not as useful as asking “what” and “how.
Most new traders put nearly all their energy into perfecting entry points. In fact, I'd say about 90% of their focus is on just that, which can cause them to miss the bigger picture. Way back in the '90s, Tom Basso and Van Tharp looked into this
