How did you finally become profitable in forex?

Hong Kong Phooey

Active Trader
Aug 16, 2019
50
26
34
Cardiff
Took me about a year of trading on demo accounts. I finally took the plunge and learned to be good with money. Calculating risk and letting trades play out are two biggies :)
 

mark_t

Newbie
Oct 19, 2019
29
4
4
39
Practice, practice and practice. That is how you will become good at managing your funds and earning well.
 

Baazex

Trader
Oct 28, 2019
53
1
14
21
Hi guys, I'm new in this forum.. I just want to ask what did you guys did to finally become profitable with your trading? It seems really hard to me.. But I cant just give up..
Welcome to the Forum and hope you will find it useful, It needs a lot of learning and experience to reach desired profits.
 

DT77

Active Trader
Feb 24, 2019
317
43
44
52
I don't agree that you need to pay to get a good Forex education. There are a few quality free training resources out there (like Babypips and Forex.Academy) where you can learn all you need to know to become profitable.
 

fitz forex

Trader
Aug 19, 2019
4
2
9
29
www.fitzforex.com
Thank you so much guys for all the responses here.. I think its really inevitable to not to fail first in this field.. But I believe the important thing is that you not give up no matter what.. I'm back to trading demo account now and so far so good.. I believe that if I double my account in this virtual money that Im trading now would be a good indicator for me to fund my real account again.. More power to us traders!
 

REB_FX

Trader
Feb 8, 2019
88
18
24
36
Mindset and controlling your emotions is the key factor in becoming successful i believe.

It is no easy thing to master!
 
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Jan 9, 2020
4
2
4
42
It took me about 12 months of demo and parallel learning/reading to see consistent results. If you want to master something you need to give it time.
I had dreams of flipping a small account into a big account too. And I quickly blew out three of them, all the way down to zero lol
My lessons are: Over-leveraging is a death sentence. Bad risk management is a death sentence. It’s just a matter of how soon are you gonna die.
 
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fitz forex

Trader
Aug 19, 2019
4
2
9
29
www.fitzforex.com
.. I have another question to those who are already profitable in forex consistently.. What days do you usually trade? Like the strategy that Im using now I noticed that it has high probability of winning when the set up occurred during a Wednesday or Thursday.. But if the set up formed on Mondays and Tuesdays it usually fail.. Do you guys notice this also with your strategy? I would really appreciate the replies..
 
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REB_FX

Trader
Feb 8, 2019
88
18
24
36
.. I have another question to those who are already profitable in forex consistently.. What days do you usually trade? Like the strategy that Im using now I noticed that it has high probability of winning when the set up occurred during a Wednesday or Thursday.. But if the set up formed on Mondays and Tuesdays it usually fail.. Do you guys notice this also with your strategy? I would really appreciate the replies..
Interesting question, personally not noticed a difference in success rates, but a general rule of thumb is i do not trade till Monday evening and do not enter on Fridays.
Mondays I find the set-ups are still forming and adjusting from Market open, so avoid being caught out an entering to early.
Fridays - personally do not like to hold trades over weekends so this forms part of my strategy but not based on success rates trading those days.
 
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btseen

Newbie
Jan 17, 2020
26
10
3
40
Forex Trading is never easy. Took me 10 months to start making a consistent profit in demo. DEMO. It took me a while to develop and adjust the strategy and understanding these parameters.
It is gonna take a while, do not give up.
 
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fitz forex

Trader
Aug 19, 2019
4
2
9
29
www.fitzforex.com
.. Than
Interesting question, personally not noticed a difference in success rates, but a general rule of thumb is i do not trade till Monday evening and do not enter on Fridays.
Mondays I find the set-ups are still forming and adjusting from Market open, so avoid being caught out an entering to early.
Fridays - personally do not like to hold trades over weekends so this forms part of my strategy but not based on success rates trading those days.
.. I thank you for this.. Same with me.. I rarely hold a trade till the week ends because most of the time my profit target or stop loss would be hit on the Friday..
 
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inggo

Master Trader
Jan 13, 2012
483
12
59
Philippinese
I say patience is the key, and the long term vision of it.. by simple learning to be contented with smaller profits and a decent volume of trades, and maintianing a positive outcome each week. loses are there but learn to let go. thats it..
 

pippin

Trader
Jul 16, 2019
49
1
9
29
I say patience is the key, and the long term vision of it.. by simple learning to be contented with smaller profits and a decent volume of trades, and maintianing a positive outcome each week. loses are there but learn to let go. thats it..
Yeah slow progress is the only positive progress in trading. All fast profits are unsustainable very often turn into deep losses and account blow-outs.
 

trader_67

Newbie
Oct 8, 2019
23
5
4
49
Mindset and controlling your emotions is the key factor in becoming successful i believe.

It is no easy thing to master!
Agreed, emotions are the most important and most difficult thing to handle while trading, it take a lot of time to get a good hold on them.
 
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REB_FX

Trader
Feb 8, 2019
88
18
24
36
Agreed, emotions are the most important and most difficult thing to handle while trading, it take a lot of time to get a good hold on them.
I watched a series on YouTube by Mark Douglas, and that was the break through for me to get my mindset right.
 
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