Sometimes people say they are very successful in this business. However, I have come to find out that some of these ones that claim to be very successful have lost thousands of dollars in the past. Let's take for example, A trader lost 2000$ a month ago, and this month he started making a profit of 100$ or less every week. Lets say the trader has been making a 100$ consistently every week for just one month. This same trader would still come out and say he is successful.
I believe by now he's not been able to recover his lost 2000$, would you call that success? also, 100% consistent profit is not even possible in forex, so, when you add the minor losses to the past 2000$ loss, the loss amount is still on the increase.
How do you measure your success? Please tell me how much you've lost in forex and how much you've been able to recover.
loss after loss
My first 2 years of trading FX was very painful experience ... loss after loss ----> my 2 real trading accounts go to hell ----> I felt very bad almost depressed. But learning and gaining in experience I started to make small but consistent profits. I think consistency of profit is most important if You can make it on micro lots You can do it on 10 lots ----> principles are the same but money are much bigger !!!
Everybody loses from time to time. Whoever tells differently tells a lie.
The only issue is how you handle your loses and do you lose more than you can afford.
I wouldn't say I'm successful but at least I have a little bit of consistency now, compared to when I first started out. You just gotta learn that losing is a part of forex trading, there's no escaping it.
You cannot use past results to measure current success in forex. Success never comes easy specially in forex trading. Forget about financial results. If you can earn considerable pips ( For an example - 250 - 500 pips ) per month hopefully we can say that you are consistent. But remember we cannot expect same results every month. If you can sustain without incurring higher losses, we can say you are successful in this business.
Actually after seeking the market's turn, I set the following days goal after judging that! We all may need to focus "How much I can lose today?" If my goal is set then I tune my trade. Everyone should watch what he is doing! ? ! Thanks!
loss is the part of the profit. So i am always ready to take it beside my profit. I think that is a challenging business and i like to do that to wanna be success with trading.
Losing that first 2,000$ or 20,000$ or more doesn't matter.
We all been there.
I have lost a whole years wages of working my ass off in the oil fields as a rigger.
I had saved ever penny and decided to risk it in trading Forex.
I didn't have a clue how to trade looking back.
But at the time i thought i did.
Just wanted to make lots of money.
But lost it all in like 3 months.
And that wasn't the last time.
I blew probably 5-6 live accounts and countless demo accounts the few years after.
But then i got smart.
And started treating trading Forex like a job.
I made up my mind that this.... Forex is what I wanted to do with my life.
That it was either going to make me or kill me.
I think everyone comes to that point when they have to gut check them selves and pick them selves up and decide if they want to keep going.
I made up my mind and believed that I had no choice.
I had too and still have to go on.... No matter what.
And then I started to win.
Started to maximize my wins and limit my loses.
And i would lose.
I still do.
Started to make $50 profit a week consistantly.
Then eventually 500$ a week.
I would still lose. Sometimes losing more time then winning.
But would maximize my wins and get the hell out when a lose was occuring.
Next $500 a day. Then $500 a winning trade.
And just kept going throwing down with $10 a pip then $20, $40, then $80 a pip.
Sometimes knocking out over a thousand goos pips a week.
Sometimes knocking out over a thousand pips a day.
The point is lossing that first $20,000 or a shit load more like i did in the beggining didn't matter anymore...
It was just the price of the education that I paid for to learn what not to do to do what i do.
Becuase in the end the truth is.
In Forex the sky really is the limit.
If you can trade. And if you can win and treat this as a business than.
I really don't know of anything that can give you regardless what ever your at in life.
Forex could give you everything that you ever wanted.
If you know something else that can do that then I would do that.
I am not much successful in forex trading . I am working good here. Here we need years to become successful with my 2 years experience i am getting sufficient amount as return from forex market. it is a big support for me i am contented what i had as profit.
I can't say that I am already successful but because of my fx power striker, I have earned a lot even if I am not trading. I still have a long way to go with forex but I can say that I am loving every part of it now.
Still at breakeven after 02 years. Still learning from mistakes and looking to improve my self to get higher returns
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