Hi, I recently started trading currencies, From Feb up until July I was profitable with a simple stratergy i found on youtube.
However I am in a Rut now, if theres anyone wiling to teach me anything Im all open. I want to do this full time.

812before35 

Hi, I recently started trading currencies, From Feb up until July I was profitable with a simple stratergy i found on youtube. However I am in a Rut now, if theres anyone wiling to teach me anything Im all open. I want to do this full time.

Most of the people on this forum trading futures. Same concept can be applied to the currency. There are plenty of germs here and If may suggest you become an Elite member. It will open the door to many journals and strategies.

What puzzled me is in single sentence you are being successful for six months using a strategy and you need a teacher. Trading is all psychological game. All you need to do is continue doing what you were doing for that six months. You are the best teacher. You know how you learn.

Just spend time to understand and master that strategy. Analyse when this strategy is working and when not. Under what market condition. May be look at the volume analysis etc.

Get excel download the data and start cracking it.

Everyone is different and it was proven multiple times that same strategy can't be traded by many people because they will find a way to deviate from course. This may be your issue right now that you need to resolve. Screen time is your best way to spend. Record it play back try to figure out where was the mistake. Try to avoid it next time.

If you are planning to do it full time then start thinking of it as University. You are going to need at least 3-5 years. If you are a quick learner who spend may be 14 hour on it it may take you 1-1.5 years.

Good luck and have fun.

tr8d3r 

Most of the people on this forum trading futures. Same concept can be applied to the currency. There are plenty of germs here and If may suggest you become an Elite member. It will open the door to many journals and strategies. What puzzled me is in single sentence you are being successful for six months using a strategy and you need a teacher. Trading is all psychological game. All you need to do is continue doing what you were doing for that six months. You are the best teacher. You know how you learn. Just spend time to understand and master that strategy. Analyse when this strategy is working and when not. Under what market condition. May be look at the volume analysis etc. Get excel download the data and start cracking it. Everyone is different and it was proven multiple times that same strategy can't be traded by many people because they will find a way to deviate from course. This may be your issue right now that you need to resolve. Screen time is your best way to spend. Record it play back try to figure out where was the mistake. Try to avoid it next time. If you are planning to do it full time then start thinking of it as University. You are going to need at least 3-5 years. If you are a quick learner who spend may be 14 hour on it it may take you 1-1.5 years. Good luck and have fun.

Appreciate the advice, i started ftmos free psycology course. Anything else you'd recommend?
Also can you ellaborate a little bit further on what you mean by downlaod the data and start cracking?
You definatley do have a point on how the market conditions may influence the performance of the stratergy

812before35 

Hi, I recently started trading currencies, From Feb up until July I was profitable with a simple stratergy i found on youtube. However I am in a Rut now

Why? Did the strategy stop working, or did something else change?

Do you know how to backtest the strategy and learn whether or not it actually has a genuine, robust edge? (There are some “simple systems” on Youtube that might, but many more that don’t).

812before35 

i started ftmos free psycology course

No amount of “good psychology” will help you to trade successfully if you’re trying to use a method without a genuine, robust edge.

I’m not criticising psychology, and I’m not suggesting that it isn’t important.

I’m just trying to make the point (in my clumsy way) that it’s a requirement additional to “having an edge,” not a substitute for that.

While I’m here, may I also make a (kind of) “personal” comment about your username, without offending you? I don’t mean it rudely and I know that forum usernames often aren’t serious selections, but wanting an 812 before you’re 35 raises the possibility (to my peculiar way of thinking) that you’re maybe looking at trading in terms of profit-maximisation (“How much can I make?”) rather than in terms of risk management (“How should I learn to control my risk, preserve capital and make sure I can’t lose much?”).

I hope I’m wrong, because if I’m right, that might turn into a problem for your learning process. Again: don’t take it personally. It isn’t a criticism. I looked at it that way, too, before I was 35 and long before I became a grumpy old man.

(I would prefer a Roma spyder to an 812, myself, anyway, but that’s my problem!).

812before35 

Appreciate the advice, i started ftmos free psycology course. Anything else you'd recommend?

Interestingly enough everyone have their own issues when it comes to the trading psychology. I personally know 3 people who trades and we all have different issue. In a nut shell you need to be present and have good control on you behaviour and catch it in your head what you about to do.

Just think about it for a second on this example. You are driving a car and someone horn you. What would be your reaction ? Are you able to catch the moment that you are about to horn back ?

Exactly same thing happening in trading. Would it be FOMO, or revenge trading.

The post above have a good point. If you know the strategy and you know that trade and it makes you money. Why can't you execute the same thing day in day out? all you need is a one good trade. There is a book written by Mike Be..... "One good trade"

You can read any you can find on the psychology it can be gaming psychology too because it is related to trading. As I mentioned in the first post it is like going to University.

812before35 

Also can you ellaborate a little bit further on what you mean by downlaod the data and start cracking?

When you are looking at the screen you are looking at the data. When you work on the strategy you are working with your data Price, volume, time etc.
For example: you might want to build the strategy around MA. You would ask yourself what is the number of ticks the deviation from the MA before it pools back to the MA. All you are doing is asking question. What is the AVR daily range of the product you are trading. Basically you are working with data to help you with defining your strategy and patterns.
No one will be doing it for you. Remember the goal is not making money, the goal is not to loose what you have and you need to build your understanding and be confident. This is why the post above refers to the testing strategy. So you have good idea of R:R.

You need to build your style of trading and what I wrote above may not apply to your style but it can help out to build the picture.

Many of us fall for the get reach quick trap. Just make sure you have right expectation and do not fall for it. It is hardest thing you can do.
You can get reach much quicker doing something else.

Get Elite membership and you will see what and how other people doing it.

Tymbeline 

Why? Did the strategy stop working, or did something else change? Do you know how to backtest the strategy and learn whether or not it actually has a genuine, robust edge? (There are some “simple systems” on Youtube that might, but many more that don’t). No amount of “good psychology” will help you to trade successfully if you’re trying to use a method without a genuine, robust edge. I’m not criticising psychology, and I’m not suggesting that it isn’t important. I’m just trying to make the point (in my clumsy way) that it’s a requirement additional to “having an edge,” not a substitute for that. While I’m here, may I also make a (kind of) “personal” comment about your username, without offending you? I don’t mean it rudely and I know that forum usernames often aren’t serious selections, but wanting an 812 before you’re 35 raises the possibility (to my peculiar way of thinking) that you’re maybe looking at trading in terms of profit-maximisation (“How much can I make?”) rather than in terms of risk management (“How should I learn to control my risk, preserve capital and make sure I can’t lose much?”). I hope I’m wrong, because if I’m right, that might turn into a problem for your learning process. Again: don’t take it personally. It isn’t a criticism. I looked at it that way, too, before I was 35 and long before I became a grumpy old man. (I would prefer a Roma spyder to an 812, myself, anyway, but that’s my problem!).

The internet isnt a place where one should take things personaly.By all means if what you have to say forces me to think about trading from a different perspective or learn something.... Say it. I cannot let me ego get in the way.
Yes, i want a 812 Farrari before 35 .

tr8d3r 

Interestingly enough everyone have their own issues when it comes to the trading psychology. I personally know 3 people who trades and we all have different issue. In a nut shell you need to be present and have good control on you behaviour and catch it in your head what you about to do. Just think about it for a second on this example. You are driving a car and someone horn you. What would be your reaction ? Are you able to catch the moment that you are about to horn back ? Exactly same thing happening in trading. Would it be FOMO, or revenge trading. The post above have a good point. If you know the strategy and you know that trade and it makes you money. Why can't you execute the same thing day in day out? all you need is a one good trade. There is a book written by Mike Be..... "One good trade" You can read any you can find on the psychology it can be gaming psychology too because it is related to trading. As I mentioned in the first post it is like going to University. When you are looking at the screen you are looking at the data. When you work on the strategy you are working with your data Price, volume, time etc. For example: you might want to build the strategy around MA. You would ask yourself what is the number of ticks the deviation from the MA before it pools back to the MA. All you are doing is asking question. What is the AVR daily range of the product you are trading. Basically you are working with data to help you with defining your strategy and patterns. No one will be doing it for you. Remember the goal is not making money, the goal is not to loose what you have and you need to build your understanding and be confident. This is why the post above refers to the testing strategy. So you have good idea of R:R. You need to build your style of trading and what I wrote above may not apply to your style but it can help out to build the picture. Many of us fall for the get reach quick trap. Just make sure you have right expectation and do not fall for it. It is hardest thing you can do. You can get reach much quicker doing something else. Get Elite membership and you will see what and how other people doing it.

okay, will do.
if its worth anything ive passed a prop firm challenge before but I dont want to get complacant. Im looking to improve.

It might be a case of you jumping ship too soon. Just, maybe.

What exactly do you mean when you say you are in "Rut"? Did this happen over a period of time or in a short amount of trades? Did your strategy fail, or you never actually had one and traded away with something that wasn't really a strategy but seemed like it? (I mean, there are plenty of people who consider buying when yesterday's high is broken and trailing SL with median price or 20 sma).

Your course of action depends on these and many other questions like these, how honest you are with all these will also influence it, so be honest, not with us but yourself. On a personal level, nobody here will care if you are making money or not.

Ever heard of beginners luck? I had it when I started out too, and made significant gains but lost it in a single trade when I jumped to the derivatives market. It took many years after that to recover, so that's why I'm picking up the line where I'm seeing myself. I'll soon complete 10 years in the market, and my achievements are not in monetary terms but in fact that I'm still sane and kicking, now loads of experience under the belt and I can basically spew nonsense strategies in my sleep and I can code dozens of indicators in a single month.

Underlining here that "monetary" word, because as it happens I've also completed 35 years and soon will be entering 36th. 812before35 has really hit home with me.lol

Don't be too quick to do this full-time unless you have other sources for earning. If you are already a millionaire, It's probably not an issue, but if you are not and earning below or just above your country's average earnings, be very, very careful, one bad trade can push you into an abyss you will never come back from.

Also, years lost between 25-35 don't come back no matter what you do in terms of building the base for a successful career elsewhere.

Yay, I'm just a naysayer.

But this is also kind of "psychology" thing, so probably useful to you.