Jan 19, 2024
If you've been in forex trading for a while and if you tried developing your own strategy, most likely you did it this way. You were looking at historical charts and found a certain pattern that leads to certain results. You also found the most suitable indicators that help you identify the right opportunity to trade. Then you developed your entry and exit rules. Then you backtested this over a long period of time and you found it gives some sort of win rate and reward/risk. If it's not acceptable you tried tweaking it until you saw some promising results. Then you tried trading it but it sucks because you make too many mistakes. Then you took trading psychology course to become more disciplined in your trading and to correct your shortcomings. But it still sucks. Then you decided you're the issue so you learnt or hired somebody to do an EA for you based on your strategy. And it still sucks. And you can't find the reason why.
Let me tell you the reason behind that. Now you probably know that this market is open to the whole world and it is competitive. What makes you think that you're smarter than all the other people? Now imagine that millions of other people are following the exact same sequence. They believe they will eventually come up with some magic trading rules that will give them an edge. Why do you think your rules are unique? Exactly. Everyone is in the same sandbox using the same tools, programming languages and ideas. Everything that you thought about was already thought by other people, tested, traded and saturated.
But what these people don't understand is that they're doing it the wrong way. It feels like the most logical way, but it's a trap. And there's another way, which is the correct way of trader's development, because it leads to results. If you're on the wrong way, no matter how much energy you're going to expend while developing your strategy, you WILL NOT achieve results. If you were on the correct way you would understand why. And the fact that you saw no improvement throughout your entire development process already tells you that you're on the wrong way.
I can show you the correct way, but it's up to you to choose if you want it. Sadly, most people will never reach out to me because they prefer to be fooled by AI robots in the forums. Or they burn all their money on the bullshit courses produced by fake instagram FX idols. Do you want to end up like most people or do you want to actually achieve something in forex trading? The choice is yours.
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Disclaimer: The information on this site is just a very basic understanding of price action Forex trading and is for entertainment value only. How I trade is very different to what you may read here. The information on this site is not a recommendation to trade Forex as I do not know your level of trading experience or your financial situation. I am not a financial advisor, and I am not qualified to give financial advice. Trading Forex profitably is a skill that cannot be learned from reading the posts on this site, and I cannot be held responsible for any trades that you may take as a result of the information on this site. So if you are trading, you are trading at your own risk, so please trade responsibly, and do not trade with money you cannot afford to lose. For help and advice please contact me, or for more information about what I do check out my Forex Trading Course.