Post
Topic
Board Trading Discussion
Re: Scalping is the most controversial way to make money. My experience for 4 years
by
Thekool1s
on 12/06/2021, 20:55:54 UTC
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My money management has always been balanced, I started at 1/20 of the deposit and constantly bet the same amount,

See this is the very issue at hand. You are treating the market as some sort of a coin toss. You don't have a sound strategy which makes you think you are betting i.e gambling in the market. No "Professional/Pro" trader treats their trades as gambles. This is the very issue with the retail investing. They don't understand the market and are there only to grab some quick cash from it. There is nothing to "bet" if you truly understand what is really going on.

What any good trader will tell you is that you should never invest more than 3% on any single trade you take. The standard is 1%, 2%-3% if you are aggressive. 5% i.e 1/20 of the deposit just screams inexperience. You said you never used any stop losses which again is a very novice way to go about trading. Even worse when using margin. You have bad trading habits, I'm surprised you didn't end up blowing your account.

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Official courses do not guarantee you anything after taking them

Neither did I, but they do teach you the very basics of investing atleast. Like e.g Not risking 5% on every trade. How to use stoplosses effectively. How to prevent 25-30% drawdowns on your account in 1 trade. Basically all the mistakes you are admitting to, you won't have made if you would have taken the free babypips course or anyother matter of fact. Your results could have been much better if you had a trading plan.

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The best courses are your own statistics, accumulated over the years.

I don't quite agree there. If you don't understand how to use the tools in your inventory then you are bound to hurt yourself and unfortunately the market doesn't gives you many chances to recover. It's usually a fatal blow. It's like giving a surgeon license to someone who hasn't studied med their whole life and expect them to get better on their own without any help from actual surgeons.

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Professional trader? What do you mean by this concept? I am an ordinary retail trader. Professional traders never trade with their own money. Therefore, this is beside the point. Professional traders manage capital in hedge funds or investment banks and invest throughout their lives. Many people mistakenly believe that if they have been trading at home for many years, it means that they are professional traders. No, these are the most ordinary retail traders.

Again a very retail perception of what "professional trader" means. What I meant by professional traders was people who make a living just for trading themselves. Hedge managers aren't professional traders. I can assure you no hedge fund trades daily. Their positions aren't built on chart patterns. They are in for the fundamentals and not technical analysis.

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In terms of strategy, this is trading on certain patterns on the chart that I am best at trading.

And what was your winrate on this "pattern strategy", What kind of Rs you were expecting on each setup? What made you go in without a stoploss? Would you like to expand on these?