Anyone Here Making Consistent Money With Forex Trading?

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Webmasterzzz said:
55% is insanely high. If that were true, you would be the richest man in the world within two years just from compounding profits.
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No, because risk management won't let you enter with 100%, no matter how sure you are of the result. Also, you won't trade daily, but maybe 2-3 times a week... Look at any trader and see their success percentage; it is not constant, there are weeks with a 90% and even 100% success rate, while there are other weeks with only a 10% success rate.

Webmasterzzz said:
I also do not agree that you can predict the market just by reading news. News affects the market, sure, but nobody knows in advance whether the reaction will be positive or negative.
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You can predict pretty accurately. You don't need to know if the news will be positive or negative. It's enough to know that the USA is about to attack Iran; you wait for the moment, see how the market reacts, and enter... in the direction the market is moving... for a short term (for scalping) you're right.

Webmasterzzz said:
Chart patterns are mostly self fulfilling prophecies. When enough people follow the same pattern, they help push the market in that direction. Even then, the edge is tiny, probably under 1%.
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Chart patterns are logical. What amazes me the most is Fibonacci, which simply has no logic, but if 1k people believe Fibonacci, then I must align myself with those 1k people who believe in Fibonacci. It's not about what I believe, but about what others believe.
I don't encourage trading, it's just disguised gambling. Even though you have a slight advantage, you don't have enough money and time to make a fortune.
 
Trade futures with order flow. Because forex doesn't have true order flow. Order flow costs $100 to get.
 
1. It took me about 1 year to finally see consistent profits.
2. I strongly recommend starting with a demo acc first. Once you go to live trading, start with the minimum risk per trade, and then gradually icrease your risk size as you feel confidence and consistency.
3. Swing trading combined with the Wycoff method works best for me.
4. Both EU + USA sessions, it depends on the market situation.
5. I started with FX but then switched to rypto. Traditional currencies usually move within tight ranges, which cuts out long-term movements in most cases. Crypto is much more volatile and offers better opprtunities. Stocks might be good too, but I don't trade them.

"what matters most is psychology and risk management" - sign under every single word. Until I strictly started followng my risk management and fully understood my own psychological mistakes, I couldn't get any positive results.
 
TopYTPro said:
1. It took me about 1 year to finally see consistent profits.
2. I strongly recommend starting with a demo acc first. Once you go to live trading, start with the minimum risk per trade, and then gradually icrease your risk size as you feel confidence and consistency.
3. Swing trading combined with the Wycoff method works best for me.
4. Both EU + USA sessions, it depends on the market situation.
5. I started with FX but then switched to rypto. Traditional currencies usually move within tight ranges, which cuts out long-term movements in most cases. Crypto is much more volatile and offers better opprtunities. Stocks might be good too, but I don't trade them.

"what matters most is psychology and risk management" - sign under every single word. Until I strictly started followng my risk management and fully understood my own psychological mistakes, I couldn't get any positive results.
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With "swing" trading you simply can't have enough trades made in 1 year to know if you are profitable or not. If you don't have at least 1000 trades you have nothing. And even with 1000 trades it's questionable.

What you eperianced now is just random luck. Anyone can get lucky in trading.
 
Lindolas said:
With "swing" trading you simply can't have enough trades made in 1 year to know if you are profitable or not. If you don't have at least 1000 trades you have nothing. And even with 1000 trades it's questionable.

What you eperianced now is just random luck. Anyone can get lucky in trading.
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Swing trading, in my understanding, means holding a trade for 1- 2 days. It's not intraday, but it's not a position that you hold for several weeks either.
Over a few months you can collect enough data. I think, that if you trade the same pattern 100 times, you can already tell whether your method works or not. I understand that markets change, but if you're still doubting your edge after 1000 trades, maybe it's time to rethink the method?

Lindolas said:
random luck.
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In trading, I don't think in terms of "luck" or "bad luck". You have a system - you trade it. In my case, the majority of my SLs come from violating my own check-list.

That's said, I do agree with you that it should take more time to determine whether results are truly consistent. Anyway, everyne has his own approach.
Wishing you profits)
 
i lost a lot of money in the crypto market, around $100,000 :(((((

i found there's no single right method. It's simply about overcoming your emotions and pushing yourself. Don't take any courses on reading charts.
 
TopYTPro said:
Swing trading, in my understanding, means holding a trade for 1- 2 days. It's not intraday, but it's not a position that you hold for several weeks either.
Over a few months you can collect enough data. I think, that if you trade the same pattern 100 times, you can already tell whether your method works or not. I understand that markets change, but if you're still doubting your edge after 1000 trades, maybe it's time to rethink the method?


In trading, I don't think in terms of "luck" or "bad luck". You have a system - you trade it. In my case, the majority of my SLs come from violating my own check-list.

That's said, I do agree with you that it should take more time to determine whether results are truly consistent. Anyway, everyne has his own approach.
Wishing you profits)
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So many traders just don't have any knowledge of math and statistics. !00 trades is not enough, you need much much bigger sample size. You are not investing but trading, meaning a lot of "ins and outs" of the market, so your a dealing with the ammount of occurrences. Do you understand the law of large numbers? Margin of error? Variance? What is stationary and what is not?
You need a lot bigger number then just 100 to get some good convergence.
 
Navdeesh19981 said:
Forex trading is less about strategy and more about discipline risk control and psychology Most traders struggle with consistency so focus on mastering basics practicing on demo first and treating it as a long term skill instead of quick income
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No, you can do all of that and you will still lose money if your strategy has no positive expectancy.
 
Nop, like most traders, you will end as long or short term loser. Traders who after 10 years, still think they can "make it" . Broke and addicted,

Don't bother, you have much better chance in passive investing or learnin Poker.
 
I agree with the point about psychology and risk management Most traders spend too much time searching for the perfect strategy and not enough time controlling risk Consistency seems to come more from discipline and execution than from any specific trading system alone
 
DigitalExpertt said:
I agree with the point about psychology and risk management Most traders spend too much time searching for the perfect strategy and not enough time controlling risk Consistency seems to come more from discipline and execution than from any specific trading system alone
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Yes, provided your trading sytem has an edge. You don't want to "stick" to your losing strategy.
 
trading forex looks simple at start but consistency takes time most people struggle with emotions and risk control i think demo practice first helps then small live account discipline matters more than strategy itself long term mindset wins
 
In my opinion, risk management and psychology matter more than any strategy. Consistent profitability in forex is possible, but it takes time, discipline, and realistic expectations. Most traders fail not because they lack knowledge, but because they can't control their emotions.
 
I agree with your last point psychology and risk management seem to separate profitable traders from everyone else Most people focus on finding a perfect strategy but consistency usually comes from discipline patience and protecting capital during losing periods
 
Risk management is the key factor.
Managing How much you are going to loose for the trade and how much you are going to win. Risk and reward and also Risk management how much you want to trade with capital of your whole account.
It is very important. If you loose all of it in one big trade. You will be finished
 
Nah already too crowded and full of influence scamaz waiting to suck your liquidty
 
hbar19 said:
Risk management is the key factor.
Managing How much you are going to loose for the trade and how much you are going to win. Risk and reward and also Risk management how much you want to trade with capital of your whole account.
It is very important. If you loose all of it in one big trade. You will be finished
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As much as you can be finished risking small amounts. The negative expected value will erode your account over time. It's pointless to think that. It's all posintless if you'r trading system can't produce something positive.
 
Alex 9 said:
In my opinion, risk management and psychology matter more than any strategy. Consistent profitability in forex is possible, but it takes time, discipline, and realistic expectations. Most traders fail not because they lack knowledge, but because they can't control their emotions.
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That's the problem, "opinion". Thinking means not knowing :)
 
TopYTPro said:
Swing trading, in my understanding, means holding a trade for 1- 2 days. It's not intraday, but it's not a position that you hold for several weeks either.
Over a few months you can collect enough data. I think, that if you trade the same pattern 100 times, you can already tell whether your method works or not. I understand that markets change, but if you're still doubting your edge after 1000 trades, maybe it's time to rethink the method?


In trading, I don't think in terms of "luck" or "bad luck". You have a system - you trade it. In my case, the majority of my SLs come from violating my own check-list.

That's said, I do agree with you that it should take more time to determine whether results are truly consistent. Anyway, everyne has his own approach.
Wishing you profits)
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Everybody "thinks" of this and that. Becasue you think something but you do not know the mathematical realitty behind it.
 
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