Forex strategies revealed | FSR Forum

Hi guys. When i first started trading forex,i lost some money. I then thought that it's quite common for newbies to lose money. A few months later,i managed to earn small profits,and that made me thought that i was out of the newbies club,of losing and blowing up accounts. However,recently,i started gaining back my old form of losing,and i'm at my all time low of $40,000 on my practice account. I started with the account of $50,0000,and 6 months later (now),i've lost $10,000. May i know if there is something wrong with me?

Sorry if i sound kinda funny. I'm just very confused

I guess it would be simple to find out if you know the answer to this:

- did you have a system and traded only by its rules when you were winning?
- if yes, did you change anything recently?
- if no, then it is obvious: your trading style changes as you get more experience, but it is not necessarily going to lead to making right decisions, a system is still needed.

I do follow a system,but it is very inconsistent

So what do you guys suggest? Should i change my system,or should i try and improve it?

Ok,probably i'll try out some other systems. Thanks

Thanks for all your help

Hi, I think it is all down to poor money management. When you place a trade make sure you never stake more than 5% of your capital on any one trade, and only trade when there is the potential to win three times your potential loss. Better to wait for the right trade than to jump in at the wrong time.
Always, always place a stop loss, and let your profits run. If possible use a trailing stop.
Using a 3:1 profit:risk ratio you can be wrong 60% of the time but still be profitable long-term.
Hope this is of some help.
Good luck
Charles

Hi Charles,
Yeah,thanks for the tip

Ivan

Hi,
When you place a trade make sure you never stake more than 5% of your capital on any one trade and only trade when there is the potential to win three times your potential loss. Better to wait for the right trade, than to jump in at the wrong time

I would say that either you are forcing trades when they are not there or your strategies are bad and need to be redone. I can personally help you with all this and get you some good indicators if you are interested.