Are you really making money in the Forex market?

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You are using EA, Indicator, method, all the things that can help you make money from Forex. But when you look back at that process. How many times have you deposited money into your account, how many times have you sat in front of the screen watching your account gradually disappear. Maybe you earn a few thousand dollars in a few days. But just 15 minutes against the trend and you lose everything.
 
Huy Nguyễn:
You are using EA, Indicator, method, all the things that can help you make money from Forex. But when you look back at that process. How many times have you deposited money into your account, how many times have you sat in front of the screen watching your account gradually disappear. Maybe you earn a few thousand dollars in a few days. But just 15 minutes against the trend and you lose everything.

all of us have been there. But if you dont invest more than you can afford, then, you have not lost anything much. But if you expect to make millions overnight, then, you are better to go to a casino where the risk can be lower.

And if you think like that, then, your emotions are part of your trading, which is worst sort of trading. If this is what you are doing, then, again -- invest your $$$ at the pokies instead, or the lottery.
 
  1. Take a break from trading. Just stop for now.
  2. Refocus on statistics by: (a) manually/visually taking measurements of your strategies entries, exits, profits, and losses while taking notes with pen and paper; or (b) automating your strategy to exponentially increase your strategy testing efficiency.
  3. Option 2(b) is highly preferable. Once you're able to write code, rapidly test, and tweak code, profit will become a byproduct of coding over time. 
 

Yeah, I’ve definitely struggled with that, and honestly, the hardest part hasn’t been technical skills or strategies. It’s the psychological side of trading that gets me.

One big issue I have is overconfidence. When I find a strategy that works and I spend months making consistent profits, I unconsciously start believing I’ve “figured out” the market. That’s when things start going wrong, not because the strategy stops working, but because I begin thinking I know better. I start taking shortcuts, entering or exiting trades outside of the plan… or sometimes the market just shifts a bit and things stop playing out as expected. Instead of taking a break or reassessing, I keep forcing something that “was working.” Usually, I only realize what I did wrong after I abandon the strategy and analyze everything.

Another problem is fear. I’ve had solid strategies that made money slowly but steadily. But no one wants to trade the same small lot sizes forever, so I start increasing the position sizes. Eventually, I hit a point where bigger numbers give me anxiety. Seeing a trade down -$100 is fine if it’s part of the plan. But seeing -$1,500? Even if it’s still within the expected range, it messes with my head. I start closing trades too early out of fear, or I cut profits short because I’m scared to watch $3,000 drop to $2,000, $1,500… even though that fluctuation is totally normal for the strategy. Then of course, the price moves back in my favor after I close, and I realize I could’ve hit $5,000 or $6,000 if I’d just followed the plan.

These psychological issues are way harder to fix than any technical skill. Anyone can learn setups and indicators over time, but controlling your mind? That’s a whole different game.

Lately, I’ve been working on tools and indicators to help me stick to more rigid strategies. So far, it’s helping, let’s see how long I can keep that consistency.

 
Rafael Grecco #:

Yeah, I’ve definitely struggled with that, and honestly, the hardest part hasn’t been technical skills or strategies. It’s the psychological side of trading that gets me.

One big issue I have is overconfidence. When I find a strategy that works and I spend months making consistent profits, I unconsciously start believing I’ve “figured out” the market. That’s when things start going wrong, not because the strategy stops working, but because I begin thinking I know better. I start taking shortcuts, entering or exiting trades outside of the plan… or sometimes the market just shifts a bit and things stop playing out as expected. Instead of taking a break or reassessing, I keep forcing something that “was working.” Usually, I only realize what I did wrong after I abandon the strategy and analyze everything.

Another problem is fear. I’ve had solid strategies that made money slowly but steadily. But no one wants to trade the same small lot sizes forever, so I start increasing the position sizes. Eventually, I hit a point where bigger numbers give me anxiety. Seeing a trade down -$100 is fine if it’s part of the plan. But seeing -$1,500? Even if it’s still within the expected range, it messes with my head. I start closing trades too early out of fear, or I cut profits short because I’m scared to watch $3,000 drop to $2,000, $1,500… even though that fluctuation is totally normal for the strategy. Then of course, the price moves back in my favor after I close, and I realize I could’ve hit $5,000 or $6,000 if I’d just followed the plan.

These psychological issues are way harder to fix than any technical skill. Anyone can learn setups and indicators over time, but controlling your mind? That’s a whole different game.

Lately, I’ve been working on tools and indicators to help me stick to more rigid strategies. So far, it’s helping, let’s see how long I can keep that consistency.

Although you may not know it yet... I believe that you're on the long road to fully automated trading.

I certainly didn't know that I was on that road years ago. But still... your nonfiction story about manual trading gives me the old heebie-jeebies.🤢

A bot never sleeps, gets over-caffeinated, argues with a mate, celebrates winners, nor gets depressed by losers. It's 100% rigid.

 

1. The problem is that even if you have made money in the past, it does not mean that you will make money in the future.

2. In any jobs, you really do not know if you can still make money in the future.

3. In fact, Forex is a program for me along with other programs.

Even using unhealthy relationships to earn money is not a completely safe way. After all, the people through whom you make money may one day change their interests. In fact, constant vigilance regarding economic and even non-economic issues is necessary to earn income in any field. We live in a time when relying on one or even two sources of income is not enough. Every source of income is in danger of disappearing. In these circumstances, Forex is one source among several sources of income that can bring you benefits at times. Of course, if you learn to control your risk and risk intelligently, you can greatly reduce the probability of loss and hope that you may make a profit.
 
Because of the fact that you ask this question, you have a suspicion that it's not possible to really make money in it. But you don't need to ask. Look at the signals section. There are profitable forex traders, but most of them are immune to drawdown. You need to be careful about your own broker as many brokers automatically close trades automatically if equity drawdown goes above 50%. There is no real volume in forex, and for every bid there's a corresponding ask price. This makes it look like zero sum, but it's not that if someone is losing someone else is winning, because the liquidity provider provides all the prices. The broker does not care which way you trade, their main goal is to have a large volume of people trading.
 
You see your money slowly fade ,that is a classic of doing everything they told you they wanted you to do . I make money because I know it is all random and I bide my time with law of avg and also using 6 -8 uncorrelated random pairs at a time . I basically make a mockery of it all and I love it . I've had some crazy big wins and yes it is wins cause retail trading is simply gambling . 
 
That's why I program EAs. No emotions, no human error. You have an edge or you don't.
 
Giovanni Gramegna #:
That's why I program EAs. No emotions, no human error. You have an edge or you don't.

Smartest thing I've seen posted in a while.🤟

 
Giovanni Gramegna #:
That's why I program EAs. No emotions, no human error. You have an edge or you don't.

They also show the truth (in statistics) of strategies. Most strategies don't make the cut. Institutions are making markets random on purpose. There are few strategies that can work well in automation. Some other strategies can work well in manual trading but will not work well in automation

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