Ok keep studying and gaining knowledge and skills. Fast forward some years and you would have tried tons of systems and strategies and you will then be able to decide what works for you and how you'd want to trade. Until that time, you will be gaining knowledge and skills. Becoming consistently profitable will take time and requires a lot of effort. All of us had to put in the hours and its a long path to consistent profitability but if you keep at it, eventually you will get there. Many strategies work but most of them eventually fail because they cannot be followed religiously for long. Trading has to be fun and effort free or we will not stick to the rules of the strategy and our trading eventually fails. I hope this helps. All the best.
Yes I am, but it took a long time and required a lot of work. Like most traders I spend thousands of $ in courses (the courses didn't make me profitable but they contributed to my general knowledge) and I moved from strategy to strategy for a few years. I made heaps of mistakes and blew a few accounts in the process but I eventually settled for basket trading with automated entries and a mix of manual + auto trade management. The trade entries and management is done by EA's I had to automate much of the process because like most traders I lost concentration and suffered from boredom which lead to stupid entries. Consistent wins are difficult because the Liquidity providers/MarketMarkers don't want to lose and they always change the game to suit their positions. So when we find an edge, it might not last long. Btw, I also got a hit in March last year because all my accounts are in AUD and all AUD pairs were spiked. They used Covid as the excuse for the spike but in reality the LP's were loaded with AUD long contracts so they sold this pair on the day's open (huge spike on EURAUD and AUDJPY) and took people's money. Its a rigged game and only a small % of people last. When we buy or sell, whoever takes the other side of our trades, does not want to pay us. Have this in mind when you trade.
Hope I'm not asking too many questions... But if you started with $100,000 in your account, what would you reasonably expect it to be in 1 year?
'Its a rigged game and only a small % of people last. When we buy or sell, whoever takes the other side of our trades, does not want to pay us.' That is worth printing, framing and mounting on the wall above your desk.
I will be expecting approx 50% net gains. Please don't compare my expectations with those of others. It is important to remember that forex is much like the casino where the house always wins. The LP's hold most of the cards. Even if they let us win for a few months, when we decide to put in our hard earned cash, they will find a way to take it. What type of farming are you in John?
Then why even play if you think the house will steal from you? Casinos will simply refuse to let you play if they think you're too good, card counting, cheating, etc. They don't straight up steal from you. I don't farm anything.