Looser to disciplined looser

[vinay_v0]

I was making loss in trading for some years now. Still I am making loss . But recently I am able to control it. I am able to fix the number of trades I executein a day. I am setting stop loss and sticking to it. Still making loss . But I feel better now. I think my strategy is not having any edge. Hopefully I will be able to find some good strategy and start making profit. However one important step is to stick the number of trades you planned for a day and adhering to planned stop loss. I think at least I am able to achieve that.

 

[stoch]

I was making loss in trading for some years now. Still I am making loss . But recently I am able to control it. I am able to fix the number of trades I executein a day. I am setting stop loss and sticking to it. Still making loss . But I feel better now. I think my strategy is not having any edge. Hopefully I will be able to find some good strategy and start making profit. However one important step is to stick the number of trades you planned for a day and adhering to planned stop loss. I think at least I am able to achieve that.

Yes it is important to avoid overtrading if you don't want to make mistakes. My plan with Hotforex includes 20 trades in a day since I'm scalper with 0.05 lot, after that I close trading platform.

 

[Lame_Investor]

what is your strategy ?

 

[vinay_v0]

what is your strategy ?

I am still figuring out a strategy suiting me. I am finding out very difficult on that. I think I need to monitor the chart for that. However I have improved in not doing over trading and sticking to a plan. Hoping that I can continue to do that.

 

[frnw]

What is your risk reward for your trades? I think you have to keep in mind that your risk reward has to be at least 1:3.

 

[Trishula_capital]

If you are consistently making losses, I would advise you to first trade on a demo account and keep a trading journal. A trading journal will ensure that you can revisit your trades and see what works and what doesn't. A journal is essential for becoming a profitable trader. A demo account will help you practice more without going broke. Only start trading with real capital when you're consistently profitable on your demo account.
Also, I understand that you currently don't have a trading strategy. Trading without a strategy is like driving with a blindfold. You need to come up with a trading plan that can be consistently followed and is scalable.
Take one step at a time and you'll be profitable.

 

[Sarasvati Kapudia]

The way you are determined will lead you to success. Things may not be that clear right now, but if you remain determined and disciplined like you are right now, you will start to see the shifts rapidly.

 

[Jayanti Mehrotra]

At least you are honest here. Many of us are not and so, they fail. Your clarity of purpose is crucial. Your positive hope will make you find your strategy soon. Good luck!

 

[Aditi Chadda]

Just stay focused on your path, and you will find your trading strategy soon. Be patient during this time because that will make you win the game.

 

[Hev_Leo27]

If you are consistently making losses, I would advise you to first trade on a demo account and keep a trading journal.

100% agree with you. Anytime you want to test a new strategy, you should also try it on demo first. It sounds like you've made improvements from in the beginning and it's good that you haven't given up, but at this point, I would stop trading live losing money and try to work things out first.