AwesomeDuru:
No offence taken at all. I'm learning and would be doing myself a disservice by getting into a kerfuffle with anyone on here.

But to answer your question though, yes I have found what works for me. When you stare at charts for far too long you'll begin to put two and two together and the whole great puzzle starts to piece itself together.

4 weeks ago I was reading a book on Price Action by Al Brooks, I wasn't really reading the contents, but I was looking at the numerous charts in his book and that was when the light bulb clicked on. I started seeing a pattern that was consistent, one I hadn't taken note of before. I thought it was just the charts he chose to post that had that pattern so I went over to my MT5 and back tested on different currencies and it was the same.

I have been trading this strategy since then, no indicators whatsoever, just naked charts, fine tuning my entries wherever necessary. I only draw support and resistance to determine where to take profit and ensure I'm not jumping into a thread that has hit top or bottom.

4 months demo trading, and I'm already on my second $100 capital. I got the first one to $200 and then started a new one on Monday last week (picture attached). I will do this three more times before going live. I don't care how long it'll take - 6 months, 2 years, - however long it takes, I'll wait it out and then I'll go live. Because I have often heard it said that Live trading is a totally different ball game from demo so I wouldn't think of it much if I eventually blow my account on my first try. I have found that most people who go live don't even have enough knowledge of what they are doing and when they eventually blow their accounts, you see them groaning everywhere on ForexForums.

Let's keep learning and grinding, there is no one who knows it all in Forex, all we have are people who have learnt with experience.

seyiade26:


Nice enthusiasm and effort. Keep the fire burning and I sincerely wish you the best and consistency with the method you found.

I blew my account last year after 1 year of demo trading. Maybe I was careless or financially indisciplined (I didn't use stops!). It was something that worked on demo only to fail on the first live trade...

I have seen S&R, trend lines, bb etc etc work and fail an almost equal number of times. Trust me I know how to stare at charts both live and historic for hours on end...

The bottom line is you may never truly find confidence or even long-term consistency from experimenting on your own or using a system whose actual basis you don't know or doesn't make sense to you; like Fibonacci or even the great Elliot...

I am sure the market is setup to gratify only those ready to settle for like under 50% (or much lower) annually. I think most systems just break-even over the long term. Some people can be very lucky and/or very smart. I am not sure effort or even learning is enough. But I think learning is faster and better...

And reading your comment again, wow! You doubled your demo in under 4 weeks after reading a book? Please think about how many know what is in that book and how many people have been doing that consistently.

I don't want to burst your bubble but it is too good to be true and I think it's the market leading you along to the slaughter. Please be wary. Or if you doubled the account with a previous system, why have you now shifted??

seyiade26:


Nice enthusiasm and effort. Keep the fire burning and I sincerely wish you the best and consistency with the method you found.

I blew my account last year after 1 year of demo trading. Maybe I was careless or financially indisciplined (I didn't use stops!). It was something that worked on demo only to fail on the first live trade...

I have seen S&R, trend lines, bb etc etc work and fail an almost equal number of times. Trust me I know how to stare at charts both live and historic for hours on end...

The bottom line is you may never truly find confidence or even long-term consistency from experimenting on your own or using a system whose actual basis you don't know or doesn't make sense to you; like Fibonacci or even the great Elliot...

I am sure the market is setup to gratify only those ready to settle for like under 50% (or much lower) annually. I think most systems just break-even over the long term. Some people can be very lucky and/or very smart. I am not sure effort or even learning is enough. But I think learning is faster and better...

And reading your comment again, wow! You doubled your demo in under 4 weeks after reading a book? Please think about how many know what is in that book and how many people have been doing that consistently.

I don't want to burst your bubble but it is too good to be true and I think it's the market leading you along to the slaughter. Please be wary. Or if you doubled the account with a previous system, why have you now shifted??

AK284:



I understand your that kind of pain, the most important is to know what works for, no book,guru will teach you that ; A guru may give a very profitable strategy and you will still make a mess of it , there many things involve than making a right make calls,thats why I fume at people who give alerts and they don't trade,for example:"Every time I approach the market with patience,I make money,but once but I once I want to turn $200 -$2000 in two weeks having turn $15-$500 in about 2month not even trading full time but I used tight stoploss. from that I have understand what works for me and I am building on that. Pls Reevaluate every thing and find the problem. you can do it

AwesomeDuru:
You're welcome. Let's keep grinding, we'll get there eventually

mhisbliss:
Do you trade with real acc?

igetjoyfromthis:


Demo trade for at least 3 months first, and if you are profitable for those 3 months you can then decide to trade with real money. Goodluck

AK284:



I understand your that kind of pain, the most important is to know what works for, no book,guru will teach you that ; A guru may give a very profitable strategy and you will still make a mess of it , there many things involve than making a right make calls,thats why I fume at people who give alerts and they don't trade,for example:"Every time I approach the market with patience,I make money,but once but I once I want to turn $200 -$2000 in two weeks having turn $15-$500 in about 2month not even trading full time but I used tight stoploss. from that I have understand what works for me and I am building on that. Pls Reevaluate every thing and find the problem. you can do it

mhisbliss:
Do you trade with real acc?

AwesomeDuru:
Not yet. I'm currently still demo trading. I don't think I have gotten the needed experience to go live.

mhisbliss:
Well this is gonna take time then, considering the fact that i started barely three months ago.

mhisbliss:
I've been demo trading, win some loose some.

alphaNomega:


You are surely going to make losses, the trick is to gain more than you loose.

AwesomeDuru:
[size=8pt][/size]Lol. Not really. We learn differently. What took some people years to figure out might just take months for some others. If you have been trading profitably for the 3 months then you're good to go. I'm only following a promise I made to myself that I'll double my $100 account 5 times consecutively before going live. So far, I'm enroute to doubling it a second time.

Just be committed and learn aggressively. Read anything and everything. It's nice to actually interact with a fellow newbie who's also grinding it out amidst all the discouragements and negativity

mhisbliss:
The negativity is overwhelming, i had high hopes before i discovered this thread, now everything has evaporated away, those making money from it aren't gods, if I'm not going to get anything useful here I'll just unfollow the thread.

BullBearMkt:
...gold desperately looking for direction in H4 channel. Will there be breakout above upper channel/breakdown to lower channel today?

mhisbliss:
The negativity is overwhelming, i had high hopes before i discovered this thread, now everything has evaporated away, those making money from it aren't gods, if I'm not going to get anything useful here I'll just unfollow the thread.

mhisbliss:
The negativity is overwhelming, i had high hopes before i discovered this thread, now everything has evaporated away, those making money from it aren't gods, if I'm not going to get anything useful here I'll just unfollow the thread.

redsox11:


Forex is not easy, you just started 3 months ago, I can't even refer to you as baby yet. You are still in the womb. And you've got to stay grounded and not allow people pull your string/ emotion easily. They are traders with 6-12 years experience with no head way, not profitable. I'm talking about engineers, doctors, scientist and all. So you can't say they're not smart.

The problem is there's no book or university to study forex, and we all have learnt a lot of garbages along those years trying to be a profitable trader, sometimes we have to unlearn a lot of bad habits.

I'm NOT saying it has to take you that long BUT it will take you couple of years, faster if you have someone pointing you in the right direction. That way you don't learn a lot of rubbish like a lot of us.

Forex is difficult, that's the fact, it takes a lot of patience and mental strength BUT it's not impossible, it's very doable.
Winners don't quit anyways.

seyiade26:


LOL you guys should please stop using the word negatively na. Read again and it's not really negativity but advice from my own little experience and much background and actual check in this. It has been established that the market is very efficient and participation and competition is high. That it is vulnerable to technology and many things like that. I was just hoping to nudge you and whoever cares to listen in the correct direction that could get you to your destination faster and easier. It is up to you to choose WHAT WORKS FOR YOU.

However you need to apologize to the bosses in the house for your empty threat. You will hurt only yourself by carrying it out...

JAkpayen:

Don't despair my dear! What works for you on demo will surely work out in live trading, but there is a last step you have not taken yet. Test of your emotions. Test out any amount you can afford to lose on a live trade, see how you feel when you are in greens or reds.

This will determine your emotional level to be a trader or not

mhisbliss:
Thats why I'm here right? To maximize profit but all I've been getting here are people telling me how hard it is and lots of discouraging posts.

mhisbliss:
My emotions are in check dear, i just wanted to know more about what I'm going into but instead i met alot of people telling me its something i can't do, don't worry, I've already decided to fly solo, afterall experience is the best teacher, after many fails I'll learn eventually.

mhisbliss:
My emotions are in check dear, i just wanted to know more about what I'm going into but instead i met alot of people telling me its something i can't do, don't worry, I've already decided to fly solo, afterall experience is the best teacher, after many fails I'll learn eventually.