AM REALLY DISCOURAGED
- Thread starter esosa
- Start date
TheForexGuy
Forex Mentor
I get two losses in a row, sometimes even 3 or 4 hits in a row. But the money management keeps me in front you've just got to be consistent with it.
When you get trade hit your 1:3 targets and even go beyond and hit 1:6 or something them losing trades become things of the past. Sometimes I even get multiple winning streaks which really puts you ahead. It's just the face of trading.
Someone who tells you they have a 80%-95% win rate are kidding themselves and you.
When you get trade hit your 1:3 targets and even go beyond and hit 1:6 or something them losing trades become things of the past. Sometimes I even get multiple winning streaks which really puts you ahead. It's just the face of trading.
Someone who tells you they have a 80%-95% win rate are kidding themselves and you.
TheForexGuy
Forex Mentor
200 pips a day?
You don't even see the market move that much in one day. They are just scamming you and probably want you to buy their 'awesome expert advisor' that has a 90% win rate.
You see these EA's like megadroid and FAB Turbo claiming they have these high 90% win rates, but then you read the disclaimer and find this line in there...
"All results shown on this website are hypothetical"
It's a fact that most EA products are scams.
You don't even see the market move that much in one day. They are just scamming you and probably want you to buy their 'awesome expert advisor' that has a 90% win rate.
You see these EA's like megadroid and FAB Turbo claiming they have these high 90% win rates, but then you read the disclaimer and find this line in there...
"All results shown on this website are hypothetical"
It's a fact that most EA products are scams.
Couple of things:
1. Ultra high win ratios are claimed by people who generally let every trade run until it either eventually comes into profit OR they finally give up on them. MYFXBOOK shows only closed trade equity regardless of open p/l
2. 200 pips on a good day IS achievable if, like me, you run 25 pairs. On average that's only 8 pips per pair (in fact I typically only run 6-8 pairs at a time but you get the point)
3. I do have verifiable proof that my win ratio is currently running at 87% BUT the difference is that I am not manufacturing or massaging figures in order to sell something. I would not be interested in selling my strategy or managing other people's money, and after almost 20 years as a spot trader I'm not turned on by making wild claims on an internet forum. It's taken me a long time to nail my strategy - but a high win ratio is certainly possible, as is a 200 pip daily gain across a basket of pairs
The point is, anyone who tells you this and then mentions their product or service is someone you should be VERY wary of, because if they were achieving these goals then why would they need your $200 when they can make thousands every day from trading their own super-strat ?
In the end, 2 losers in a row is nothing. If you get 3 losers in a row, close down and start again the next day. If you get 7 or 8 losers in a row, pause, have a think and maybe refine your strategy or try a demo using a strat that is contra to the one giving you the signals.
EVERY trader has losses, and every trader has short runs of losses. The price Action Protocol course is really very good, and the guys on here talk a huge amount of sense. Stick with it and I'm sure it'll all turn around for you.
Very best wishes for a successful month.
1. Ultra high win ratios are claimed by people who generally let every trade run until it either eventually comes into profit OR they finally give up on them. MYFXBOOK shows only closed trade equity regardless of open p/l
2. 200 pips on a good day IS achievable if, like me, you run 25 pairs. On average that's only 8 pips per pair (in fact I typically only run 6-8 pairs at a time but you get the point)
3. I do have verifiable proof that my win ratio is currently running at 87% BUT the difference is that I am not manufacturing or massaging figures in order to sell something. I would not be interested in selling my strategy or managing other people's money, and after almost 20 years as a spot trader I'm not turned on by making wild claims on an internet forum. It's taken me a long time to nail my strategy - but a high win ratio is certainly possible, as is a 200 pip daily gain across a basket of pairs
The point is, anyone who tells you this and then mentions their product or service is someone you should be VERY wary of, because if they were achieving these goals then why would they need your $200 when they can make thousands every day from trading their own super-strat ?
In the end, 2 losers in a row is nothing. If you get 3 losers in a row, close down and start again the next day. If you get 7 or 8 losers in a row, pause, have a think and maybe refine your strategy or try a demo using a strat that is contra to the one giving you the signals.
EVERY trader has losses, and every trader has short runs of losses. The price Action Protocol course is really very good, and the guys on here talk a huge amount of sense. Stick with it and I'm sure it'll all turn around for you.
Very best wishes for a successful month.
TheForexGuy
Forex Mentor
Glad to see you back on your feet.
The Reason I have been loosing 2 a day are three things I had to change.
1)I was trading on a smaller time from 15m to 1h,
2)trading at 5pm - can be an entry trade but only if your willing to go though the bull back as the market moves back after 2 am.
3. to excited and jumping into the Trade, I am still Practicing to sit on my Hands.
If you can master These three Things then, you better then me.
1)I was trading on a smaller time from 15m to 1h,
2)trading at 5pm - can be an entry trade but only if your willing to go though the bull back as the market moves back after 2 am.
3. to excited and jumping into the Trade, I am still Practicing to sit on my Hands.
If you can master These three Things then, you better then me.