Page 1 of 2 12 LastLast
Results 1 to 10 of 16
  1. #1
    Junior Member

    No matter what I do at the end still feels like gambling !!!

    I find myself in a situation in which I find it difficult to believe that watching price action and also using a couple of indicators makes much of a difference in "predicting the future of a currency pair"
    I am on an amazingly uncounted losing streak after I was having positive results.
    My strategy is the same, I stare at the charts and the candles, draw trendlines look for resistance and support, watch out for the news, and try to make it as possible to justify that when I take that bet my odds are calculated in my favor.
    Yet the market acts chaotic with no regards to everything that I tried so hard to make myself believe that I am a "tarder" and is despising me and acts randomly making me feel like I have no control or hope in this thing

  2. #2
    Senior Member Annovdbos's Avatar
    Hey Ciprian. I have been reading your diary from the beginning and from that I understand you haven't been trading very long yet, correct?
    I'm just saying if you have tested a strategy with like 30 trades and you've had, let's say, a 66% percent win rate with that (20 ITM and 10 OTM). Than the next 30 trades it was the other way around, so a 33% win rate (10 ITM and 20 OTM), it doesn't say much. For knowing a strategy will work at all times is testing it with like 800 maybe even 1000 trades and see what the win rate is then.

    My advice to you is to just calm down. Open a demo account and just test your strategy calmly and with no rush. I saw you already went live while you're still a newbie. It's very unrealistic to expect profits after doing one or two months research about price action.

    I am trading for roughly 6 months now and I still didn't go live. I also had a period where I lost very much and thought the same as you did. I too thought this is pretty much like gambling. Then I took a couple days off trading went back with a fresh mind and just started over. Now I'm steady making money on my demo account.

    So, this is my advice to you. You can take it or leave it of course. But I know that if you continue trading and learning you will one day see it's not like gambling if you apply proper analysis.

  3. Thanks Ciprian thanked this post
  4. #3
    poe
    poe is offline
    Senior Member poe's Avatar
    I kindda had an awful experience last month, after trading for more or less 2 months I 2.5x my initial deposit and I felt invincible,I was keeping an stunning 60% win rate ( for a complete newbie ) after almost 400 trades, then suddenly fell onto a bad run and ended up loosing everything and more....

    I would repeat my whole story but best if u try reading it HERE on post #37, Im explaining why and how I failed...

    Trading is an awesome task and we learn bit more every day we spend in business, remember that the goal of any trader is stay alive out there the longer the better. only 5% or so of all traders become success traders, so keep a tight mindset, read a lot, don't over trade, keep cool head, maintain a set of rules, don't get greedy, learn when to quit and when to take the best out of the good runs after we are not gonna get rich overnight, this is a long process which can be very profitable in the end.

    pd: try to treat trading like school.... u first go to primary, then high school, then college, university, master and finally doctor ( at least thats how it works in my country ) and all that to masterize only and only 1 profession... So imagine how much time we need to become successful in trading a task that includes a learning proccess thru how to loose money and not get pissed.

    hope it helps to keep u up, lads here in forum helped me a lot before.

    gl & ht
    Last edited by poe; 01-16-2017 at 10:08 PM.
    "He who makes a BEAST of himself, gets rid the pain of being a MAN" S.J

  5. Thanks Ciprian thanked this post
  6. #4
    Legendry Member milos's Avatar
    Trade carefully and watch the charts. You can choose time frame expiry,trading assets and the best trading hours.

  7. #5
    Moderator Kolyo's Avatar
    Trading is like gambling if you take each trade very personally and if you take too big risks per single trade. If you keep everything under control and risk less than 1% of your capital per trade than it becomes more and more like business. Don't rush and trade slower and smaller till you gain more experience. Keep a rule with a max number of trades per day which will prevent you from over-trading.
    "The goal of a successful trader is to make the best trades. Money is secondary." - Alexander Elder

  8. #6
    Solid Member Trapped's Avatar
    So it all depends on your interpretation of the situation, if you think it's a game, you'll relate to it in the same way, which means the options of draining the deposit is higher.

  9. #7
    Legendry Member Okane's Avatar
    ow long have you been using price action? The average trader needs a few years of training before
    they become profitable. Price action is not just drawing support and resistance lines. The term
    is loaded with lots of areas and subjects like:

    Convergence
    Divergence
    Currency Correlation
    Patterns for entry
    Patterns for expiry
    Triangle/rectangle patterns and other types of patterns depending on current market and timeframe
    Trendlines (not just your typical highs and lows...)
    Support and resistance = knowing where the strongest areas are through volume
    Support and resistance = Round levels
    Support and resistance = "special levels" Like 42/420's on EURUSD or 68s etc..
    Multi-timeframe analysis

    There is more but I just wanted to clarify price action is a deep deep area. And learning
    all these and putting it all together + experience is gonna take time! So don't say "I draw S/R lines so price action is not working
    Live Webinar: Hidden Content
    Join My Skype Group: Hidden Content

  10. #8
    Legendry Member Okane's Avatar
    Quote Originally Posted by AlfredK View Post
    I can definitely relate to what you describe here. Unfortunately, most brokers care about your money, but in the sense of taking it from you. Therefore, nobody would even care to spend time guiding you, assisting you with this terrifying market. Man, I hope it was the other way around..
    Brokers and traders are in a conflict of interest but "nobody would even care to spend time guiding you" is a false
    statement.
    1. We have a free binary options school
    2. We do guide traders for free in their trading diaries and you can confirm this yourself
    and see how beginners started not knowing what to do but gradually improved their resutls thanks
    to feedback from experienced traders here in the forum!


    I am also sharing lots of my techniques already on YouTube (subjects I mentioned in the post above)
    This is pretty much next to holding their hands while they trade lol
    Live Webinar: Hidden Content
    Join My Skype Group: Hidden Content

  11. #9
    Legendry Member willyw's Avatar
    Quote Originally Posted by Ciprian View Post
    I find myself in a situation in which I find it difficult to believe that watching price action and also using a couple of indicators makes much of a difference in "predicting the future of a currency pair"
    I am on an amazingly uncounted losing streak after I was having positive results.
    My strategy is the same, I stare at the charts and the candles, draw trendlines look for resistance and support, watch out for the news, and try to make it as possible to justify that when I take that bet my odds are calculated in my favor.
    Yet the market acts chaotic with no regards to everything that I tried so hard to make myself believe that I am a "tarder" and is despising me and acts randomly making me feel like I have no control or hope in this thing
    You need consistance training to improve. Dont rush and always stay cool when trading. Be patience
    Willy Twitter: Hidden Content

  12. #10
    Legendry Member Michael Hodges's Avatar
    long losing streaks are tough, real tough, but you hit the nail on the head when you said the market is chaotic. It is. at least 90% of the time the market is making random fluctuations based on .... whatever is going on that day, usually not much of real importance. THe market is only really really moving about 10% of the time, when the news is big or a major event happens, etc. The trick for short term traders is to recognize that most days totally suck for trading, you have to be patient and wait for the few good days. This is where the multiple time frame analysis come into play, you don't get a good long term signal on the daily charts everyday do you? No, but it is these days you must wait for, when those signals happen you may get a few days, weeks or even months of good trend following signals on the lower time frames. Hope this helps.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
3