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Thread: Intro Eric

  1. #1
    Rookie Member duf180's Avatar

    Intro Eric !!!

    Hi everyone,

    I've been following the forum for a few months so I guess it's time to introduce myself. I've been trading for 7 months. I haven't found a way to be profitable yet. Recently it's been better but not profitable. I guess, like a lot of new traders I was a bit naive when I started and followed too easily the advice of my account manager. The first strategy I was taught involved a martingale approach were you would double and a half your lost trade. The main indicators used were RSI, MACD and bollinger band. It was a good strategy until you hit a long trend and loose all your positions. After a while tranding and having lost 3/4 of my account, I figured that the winning trades would never compensate the loosers with this strategy. You can't afford to loose when you martingale.

    After that I tried other strategies and indicators but still not able to have a profitable strategy. Tried events, won some lost some but still not conclusive. I've gone through the trading school, watch a lot of video on youtube, etc. Lately I've been trading with the resistance and support lines and Stochastic. I had ups and down but still not profitable. When I started, I was obviously over trading and I guess I'm still in the market too much not patient enough to wait for the perfect trade. I'v been trading mostly trades between 5 min to 1 hour using the 5 min chart. I do look at higher time frame to identify trend and support and resistance line. The indicators I use on MT4 are : Stoch 11-3-3, bollinger bands, LW moving average 56 and 89 for trend id, FiboPiv_V2 (autodraw S and R lines) and MTF Stochastic V2.0 set up to one hour also for trend id. I have tried 2 brokers and now my account is empty so will revert to demo trading until I find a way to be profitable.

    I'm glad I found this forum, there are a lot of good information keep the good work!

  2. #2
    Legendry Member Michael Hodges's Avatar
    OK, well welcome aboard, and good decision to join. You should definitely take a step back and reassess what you are doing. You sound like you are trying to use a couple of different, but good, strategies but have had mixed results. Try to focus on one of them, break it down so it is easier to understand...ie remove a lot of messy indicators.... I like stochastic but RSI and MACD are both good too, with support and resistance,

    KIT and let us know how you progress.

  3. #3
    Administrator Martin Kay's Avatar
    Welcome aboard Eric! If you've any questions, do NOT hesitate!
    “Don't believe anything you read on the net. Except this. Well, including this, I suppose.” ― Douglas Adams

  4. #4
    Moderator Kolyo's Avatar
    Welcome aboard Eric,

    We are happy to see you here

    Don’t worry too much on your past results. Learning to trade is not easy and struggling at the beginning almost always happens. For me it was also a long learning curve before been able to consistently pull profits out of the market. Best thing to do now is to absorb as much information as you can, but to base your trades only on simple concepts you understand. For me trading is half technical stuff and half news flow and market sentiment, so don’t stop with the first strategy that looks good and continue to explore more ways to excel the markets. Wish you nice time here and happy trading
    "The goal of a successful trader is to make the best trades. Money is secondary." - Alexander Elder

  5. #5
    Rookie Member duf180's Avatar
    Thank you guys for your comments. Working full time and having 3 kids leaves me just small windows for trading so it's hard really to commit to it. My free time is mostly during the Asian session and the market is slow then. Not the best time to trade. Any advice to trade during the asian session?

  6. #6
    Veteran Member Dan21's Avatar
    Hello, Eric. Your greatest mistake so far (except not finding BOTS before you’ve started) is that without much of an experience, you’ve jumped on real trading. BOs are not as simple as they look in the beginning – something that you’ve already found out. You should definitely open a demo account so you can begin trying new strategies and learning how to use them risk free. Hope I’ve been helpful.

  7. #7
    Legendry Member willyw's Avatar
    Quote Originally Posted by duf180 View Post
    Thank you guys for your comments. Working full time and having 3 kids leaves me just small windows for trading so it's hard really to commit to it. My free time is mostly during the Asian session and the market is slow then. Not the best time to trade. Any advice to trade during the asian session?
    Hi eric, during Asian session you can trade the USD/Jpy, Aussie and the Kiwi. USD/Jpy is the most popular during Asian hours. I trade USD/Jpy myself.

  8. #8
    Legendry Member milos's Avatar
    Welcome Eric. You can find here the most traded assets EUR/USD and USD/JPY. It is included gold, oil, S&P500.

  9. #9
    Legendry Member Okane's Avatar
    Hi Eric, welcome to bots.
    Working full time and 3 kids? Well that's
    like having 4 full time jobs I guess .
    I can tell you trading can become work too.
    But it's fun once you've learned how to trade.
    Live Webinar: Hidden Content
    Join My Skype Group: Hidden Content

  10. #10
    Rookie Member duf180's Avatar
    Thank you guys for all your comments, so far I have made 383 trades with 187 winners for an average of 47,8 %. Not quite good enough yet. I lost most with AUD/USD. As a naive newbie, was too quick on the reversal on a currency pair that tends to have long trends.

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