[JOURNEY] Trading Forex to Consistent Profits

took buy position around here, reversal happened

thankfully i know wyckoff method, so i'm on top of this

potential profit on this one is 0.37%

hopefully i can lock it in, let's goo

won the trade, fck yeah

0.56% profit trade

i run this sht, i'm on top of the fcking world

FCK YAH!!!!

i rode with smart money to lock in this one

time to wait for the next trade

took long position here, targeting top of range

potential profit is 0.32%

took another long position here

i think it should work out, but we'll see

i don't think i'll lose my full risk

i did it bros

i predicted it correct

wow, i am getting better at this

my 2 position should end up in profit now, will update once i get the result

i got fucked in the ass

am still learning, took some notes. mis read the chart, but figured out why and what happened. the secondary test price action didn't make it to top of range, which can be used as an early clue as to distribution or accumulation. that would have tipped me off to this being distribution, i was thinking it was reaccumulation

i exited both trades for 0.42% loss

i know what is my new target to trade now though. so i should be good moving forward

already jotted this new fundamental info down so i can remember it

let's goo

i got fucked in the ass again

i know why though

the problem is my stop loss placement

i've already made adjustments moving forward

more details to come, just woke up and need time to think

i think i have my stop loss placement fixed now

at this point i should be able to continue as before, no longer hitting a stop loss and closing my orders when i want to

the main thing that has been fucking me is i go away for 6 hours or go to bed, and wake up to see my stop loss hit

it's total bullshit, i need such a massive stop loss every time because i'm tired of seeing alert on my phone that stop loss hit, that shit should never be happening to me

anyway, i started using massive stop loss on all orders and increased risk per trade to 2%, when i want to get out of a trade i should be able to get away with less than 2% loss, which is great

here i opened a sell position,

let's goo

i'm ending this week with a 0.81% loss, that one last trade slapped me the fuck out, lost 1% on that

big news happened today at 8 am eastern

i'm learning though and i think i fixed my shit, so no big slaps like that can happen to me and knock me into the negatives

much better compared to the 18.68% loss of last week

update with full numbers will be posted later today

peux pas said:

big news happened today at 8 am eastern

Click to expand...

just don't trade red news or exit all positions before they happen
check the calendar here - forexfactory.com/calendar

Racc00n said:

just don't trade red news or exit all positions before they happen
check the calendar here - forexfactory.com/calendar

Click to expand...

true, forex factory calendar keeps update to date

UPDATE

02/02/25 - 02/08/25

profit: -0.77% (-$0.54)
trades taken: 16
trades won: 8
win rate: 8/16 (50%)

lost less money this week and less percentage-wise

for next week i'm trading the same methodology as i have been, but setting a default stop loss of 80 pips for every trade

i'm attempting to never get stopped out of a trade, i would trade without a stop loss but that doesn't make sense. so i'm just putting a very large stop loss each time

i want it so that the only time i lose trades is because i decide to close the order on my own terms

this is best because it allows me to wait until the market retraces, and then get out at a favorable price. basically to reduce the damage from the losing trade. compared to using a narrow stop loss that ends up getting triggered, i lose full risk, and then the price just retraces back anyway. could've just got out after the retracement and save myself some money. can't do that with bullshit narrow stops

i've tried placing stops at support/resistance levels but it doesn't work. it's still not wide enough and i still keep getting stopped out due to bullshit spikes

so that's why i'm using a default 80 pips now. i'll go even higher too if i still keep getting stopped out at 80 pips

if i can fix the stop issue then i think i can be profitable

using wkyckoff does seem to allow me to predict the markets consistently

the times i get the prediction wrong, i've been able to leave my positions and only lose about 25-50% of my risk. then i pretty much place a trade in the opposite direction because i have new information that will guide me on where my take profit should be. winning this new position will make back all the money i lost on the previous bad trades, thus causing me to be profitable even when i'm wrong on some trades

it sounds pretty simple

i think i'm pretty close to cracking this

we'll see what happens next week

markets re-open on sunday 5pm eastern, a little over 24 hours from now. will resume posting at that point

let's see if i can make it

Motivational Post.

Good luck bro

Wishing you the best of luck! It’s great to see you exploring Forex trading.

I gave it a try some time ago and spent time studying patterns, keeping up with news, and engaging in Telegram groups with some knowledgeable people. One thing I learned is that Forex can be quite challenging, and statistically, a majority of traders don’t achieve long-term profits (95% loses money on trading forex). So, if you ever decide to invest larger amounts, it’s always good to proceed with caution.

From what I’ve seen, those who succeed in Forex often have a strong background in financial markets and use solid statistical and probability-based strategies. Without that, it can sometimes feel more like guessing, and relying on guesswork in the long run isn’t really a sustainable strategy.

Wishing you success in your journey! hope you enjoy the learning process!

peux pas said:

for next week i'm trading the same methodology as i have been, but setting a default stop loss of 80 pips for every trade

Click to expand...

What is your outlook for the next week btw?

Proxyswede said:

Wishing you the best of luck! It’s great to see you exploring Forex trading.

I gave it a try some time ago and spent time studying patterns, keeping up with news, and engaging in Telegram groups with some knowledgeable people. One thing I learned is that Forex can be quite challenging, and statistically, a majority of traders don’t achieve long-term profits (95% loses money on trading forex). So, if you ever decide to invest larger amounts, it’s always good to proceed with caution.

From what I’ve seen, those who succeed in Forex often have a strong background in financial markets and use solid statistical and probability-based strategies. Without that, it can sometimes feel more like guessing, and relying on guesswork in the long run isn’t really a sustainable strategy.

Wishing you success in your journey! hope you enjoy the learning process!

Click to expand...

yeah it can be very hard

i honestly do not recommend it for most

Racc00n said:

What is your outlook for the next week btw?

Click to expand...

i think going into next week for eur/usd is accumulaction, so price will end up going upward

if market opens with a gap then that changes everything

if there is no gap then i will probably wait until heavy downturn in price to get in and place long position

the market opened with a gap, i think these gap opens are opportunities for easy profit tbh

just set a target to close the gap and use a wide stop loss, come back in like 24 hours and boom, 0.50% profit right there

took a long position here, hoping to get some of this gap as it closes

won the trade, 0.27% profit

i think when the market opens with a decent sized gap i can pretty much get an easy trade

i don't try to target the full gap though, just in case the market doesn't close it all the way