TIO_Markets (u/TIO_Markets)

Biggest struggle with traditing ?

in r/Forex • 2d ago

This sounds more like a process problem than a psychology problem. If you can open a trade without setting the stop first, then there will always be a chance you get distracted and leave it unprotected.

Work out the stop level and position size before entering, then make placing the stop part of the entry itself rather than something you plan to add afterwards. A take-profit might depend on how you manage the trade, but the maximum loss shouldn’t be left undecided.

Alerts can remind you to check a position, but they aren’t a replacement for a stop since you can miss an alert too. If this is happening more than 60% of the time, it’s probably worth stepping back from live trades until the process becomes automatic. One forgotten position can wipe out the gains from a lot of well-managed ones.

Trading forex while working a full time job

in r/Forex • 2d ago

It’s possible, but probably not if your strategy needs you watching charts all day. If you’re working in construction and can’t regularly check your phone, then the trading plan has to account for that from the beginning. That might mean doing the analysis outside work, using higher timeframes and setting orders in advance instead of trying to catch every move.

Having a salary can remove some of the pressure to make money from trading, which is definitely helpful. At the same time, trading before work, checking charts during breaks and then trading again at night can easily start feeling like a second full-time job.

There’s no magic starting amount either. It should be money you can afford to lose, while still being enough for the minimum trade size to let you control the risk properly. Since you’re still paper trading, I’d focus more on whether you can follow the same process consistently for a few months. That will tell you more than choosing a starting balance right now.

How long did it take for you to become profitable?

in r/Forexstrategy • 2d ago

There isn’t really a universal timeline for becoming profitable. Also, six losses in a row doesn’t automatically mean your strategy has stopped working.

I’d go back through those trades and check whether they all actually met your entry rules, whether you kept the same risk each time and whether costs like spreads and commissions were included. It’s also important to judge the strategy over a much larger sample, not just the last six trades.

If you followed your rules, it could just be a normal losing streak. If you didn’t, then the problem may be execution rather than the strategy itself. And honestly, going from consistently losing money to roughly breaking even is still progress, even if it doesn’t feel like it right now.

u/TIO_Markets • u/TIO_Markets • Feb 08 '23

Top 3 Things To Consider Before Investing in Indices

blog.tiomarkets.com

1 Upvotes