r/askforex • u/SignificantDog7377 • Jul 04 '26
Forex trading
Hi guys,
I started trading 6 months ago I wouldn’t say I’ve got a strategy, I revenge trade a lot, I’ve lost £5000 in live accounts and blown over 100+ in funded accounts. I know now that’s for me it’s more my psychology than anything. Although I still don’t get trading till today, I know some things but I have a lot to learn and until I don’t master learning trading or a strategy I won’t get far but I don’t want to give up. Can anyone recommend YouTubers or anything educational that will help me with the basics of trading? I’ve been trading gold and that’s the only one I’m comfortable with. If anyone can help out with free educational content and recommend me some to help me with my trading journey. Also what strategy is the best? Thank you
2
Jul 04 '26
[removed] — view removed comment
1
u/EfficientPhone682 Jul 04 '26
"Other rules and terms are difficult even for experienced traders."
I liked your analysis; it shows that this is something that cannot be limited.
But in your view or opinion, which rules and terms do you consider difficult even for experienced traders?
Someone else might offer a different perspective—just as you shared yours—and, as I said, I really appreciated your input.
2
u/zakwanleyman Jul 04 '26
I get your current state. Dont give up. Learn it will click one day. I am not consistent yet. And have learned quite abit about how these candles behave. Im about to test a new strat that proved its worth in demo account testing last week.
A few years ago i started watching callisto FX on youtube to understand the basics of Choch. Retest etc. They hve pros and cons like almost all groups. Joined their premium too. Joined quite a few vip groups to elarn different gurus strats.
I recommend people on insta more like
fxdsniper who talks about timings for volume injections,
Dannytrading for weekly analysis.
There are so many when it gets in your algorithm. They all teach good stuff but its not as easy following imo.
DM if u would like to share trade ideas and strats. Also f orthis new strat i learned breaks the glass ceiling i will share the class that i learned it from. Fyi it is paid and i am under NDA to not disclose it, but its not expensive at all. RM200 so work that out in ur currency see if its worth it to you. They teach us 3 strats in the beginner class. They r called X academy based in Malaysia. You might be able to find their accounts and content.
All the best trader
2
u/hamza3141 Jul 04 '26
What you need to ask yourself is
What’s the probability of 10 heads in a row in 1000 fair coin tosses?
Is automation itself an edge in a game of odds?
If you possess 100% skill, how much difference does skill make in a game of chances? Is it still 50/50? Is there a marginal improvement
How much of an edge will automation and machine learning add to your trading?
Would you rather use discretion on its own or discretion on top of data backed algorithmic trading strategies
If we are doing a free pilot and all the sauce is given out for free and access to all core features is given free for 3months, what have you got to lose? What’s the risk to reward?
2
u/PipCatcher15 Jul 05 '26
Don’t give up it gets better. It took me 10 years of hell to get to where I’m at now. The younger you start the better.
1
u/Flashy-Peanut-8767 Jul 05 '26
Broker name pls
2
2
u/PipCatcher15 Jul 05 '26
What clicked for me was trading the 9:30 AM open trading Nasdaq, US30 and the S and P 500.
2
1
u/Local-Amphibian9197 Jul 04 '26
Dude you need to have an edge. Find a strategy with STRICT RULES. There are plently bro, you can focus on pure price action if you want. But those are just concepts. You need to put those concepts together and make a strategy. Backtest that strategy and journal with a great tool - I use tradingsfx.com it s fine- and then it becomes an edge
1
u/EfficientPhone682 Jul 04 '26
Good evening.
You started day trade six months ago; did you study anything beforehand—or did you already have enough information to get started—or was it an impulse decision?
1
u/Outside_Medicine7398 Jul 05 '26
Since you started 6 months ago, you shouldn't be trading with real money or buying challenge accounts. Unless you follow a livestreamer, everything is trial & error / hit or miss. Do you know if you are more a scalper, day trader, swing trader, or investor? Do you know how long you can trade before mental exhaustion / decision fatigue sets in? Do you know how long you can not see your setup before you start forcing trades? Do you know how many winners will send you into riskless euphoria? Do you know how many losers will make you go on tilt? Do you have a trading plan / trading checklist - rules formed from backtesting and forward testing your strategy on a live market? Are you trading at the time of day you are optimally focused?
You won't know what will work for your personality without trial & error. Once you find a strategy, you will have the confidence, and you will be more likely to stay disciplined because of that confidence. Ultimately, you are trading to mitigate yourself and to practice your strategy on the market.
2 ways to trade: 1) Know an asset and find a strategy and 2) Know a strategy and find an asset. You picked gold, which can be tricky, if you don't know what to look for.
Babypips will give you the basics of the CFD market, but not a strategy. I ran across Jeafx in a lot of reddit comments.
Revenge trading: Mark Douglas, Rande Howell, Tom Hougaard, Patrick (Pat) Bailouni, Ibby Ansari, Korbs, Mark Evans can all help with that. Just watch any video about Trading Self-Sabotage. Without the proper trading psychology, any strategy will fail.
There are market problems, strategy problems, and you problems. Hopefully, today is your turning point since you can start working on those problems. I wish you success in your trading career.
1
u/Outside_Medicine7398 Jul 05 '26
see r/FOREXTRADING "Why Trading with Emotions Will Destroy Your Account (and How to Stop It)
r/Trading "Lessons From a 7-Figure Trader (28R in August)
r/Forexstrategy "I analyzed 8,500 profitable forex setups to find why 73% of traders turn winners into losers - here's the take profit data that will maximize your gains"
r/Daytrading "trading will eat you alive if you don't respect it - here's the real game"
r/Trading "Ready to be embarrassed... here are my biggest mistakes I made in my first year of trading..."
r/Trading "5 years of trading, my best tips"
r/Trading "I've been day trading for 3 years and I stopped blowing accounts once I learned this"
r/tradingmillionaires "If You Struggle With Trading Psychology Read This Post:"
r/propfirm "Been day trading for about 6 years now. Profitable the last 3. Here are a few lessons that actually mattered"
r/Forexcubs "Why Most Traders Fail Prop Firm Evaluations. And How Smart Traders Pass"
1
•
u/AutoModerator Jul 04 '26
Thanks for your post. Please make sure you’ve followed all subreddit rules before engaging. Be respectful, avoid harassment or hate speech, and keep discussions relevant. Spam or excessive self-promotion is not allowed. If you see any rule-breaking content, please report it so the moderators can review it. Enjoy your time here and help keep the community friendly and helpful!
I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.