What am I doing wrong

[belindaknowswhy]

Hey everyone,
I have been learning to trade for the past six months (practising on demo).
Just when I think I have it, I am taking 30 steps back.
Never been one to quit - one minute I have it, and then it's like learning all over again.
What am I doing wrong?

 

[HeavLeighGill]

It's good that you're still on demo, I'm sure that it has saved you from losing some real money. Have you been sticking to the same strategy all this time or changing things along the way? A trading journal may be able to help you out and reveal some things you've been missing.

 

[Mumpsimus]

Hey everyone,
I have been learning to trade for the past six months (practising on demo).
Just when I think I have it, I am taking 30 steps back.
Never been one to quit - one minute I have it, and then it's like learning all over again.
What am I doing wrong?

That depends on what it is exactly that you are doing. Without that information you are effectively asking the "How long is a piece of string?" question. Areas that you find problematic might be general Risk and Trade management or perhaps more discrete elements like set-ups or probability assessment. The more information you can give, the more helpful will be the answers. To start with: do you have a trading plan?

 

[Farm Yard Forex]

What were you doing and what were the backward steps that occurred? Might be easier to guide then. It's a process we all go through though so you're not alone.

 

[Smith2525]

Impossible for us to know unless you provide some more detailed information on your system / techniques

 

[momo3HC]

The learning in forex exactly like in life is never ending mate.

 

[Farm Yard Forex]

No further info here then so we can actually offer some insight.

 

[peto]

6 months is beginner territory. Consistent profits might take 10 years, or even never. Don't give up the day job meantime!

 

[Mumpsimus]

Seems as if the OP isn't really interested in the answer to their question as they made just the one post 3 weeks ago and have not followed up or answered any of the suggestions.

 

[bredon]

Just when I think I have it, I am taking 30 steps back.

what do you mean when you say the above? Are you wiping out a lot of good trades with one bad one?

 

[Jungletrader]

Pity as I find these threads interesting maybe another trader has bit the trading dust so to speak

 

[1nvest]

you're response is really odd. you sent this on 24th Feb

It may seem that you are losing ground but in reality you are actually moving forward. See, forex is such a vast subject that the more you try to learn, you'll feel that there's much more more to learn. However, I really like your "never gonna quit" spirit. I'm sure you'll find your own way because no one can spot your mistakes better yourself. Review past trades and you'll realize the mistakes that you were repeating all this while.

"in reality you are moving forward" and you commend the OP for their indomitable spirit
a mere two weeks later, and with no further response from the OP, they are now no longer trying hard enough and are they really cut out for trading altogether

I might sound harsh but it looks like you have not been putting in enough hard work. Spending six months on a demo account is no joke. Did you ever check what you have been doing or get it checked by an experienced trader? Consider that otherwise there are a lot of other jobs that you can do.

did you not read your earlier comment or something?

 

[WalletInvestor]

At the moment the markets aren’t very stable and would be breaking from usual analysis

This sounds like a very vague statement and I don't think it's a good idea to tell a beginner to blame it all on the markets. Besides, this alone could be blamed for six months' worth of dissatisfying results.

@belindaknowswhy can you share some details about what exactly is going wrong/what you are unhappy with, or maybe share an analysis with us? I think it's hard to give advice without knowing any specifics.

 

[Iconoclast1978]

This sounds like a very vague statement and I don't think it's a good idea to tell a beginner to blame it all on the markets. Besides, this alone could be blamed for six months' worth of dissatisfying results.

@belindaknowswhy can you share some details about what exactly is going wrong/what you are unhappy with, or maybe share an analysis with us? I think it's hard to give advice without knowing any specifics.

But he's right though. Markets have been crazy last couple of weeks. Lots and lots of people who normally turn a profit have been burnt. Most are not experienced at trading during a major conflict. It is different.

 

[WalletInvestor]

But he's right though. Markets have been crazy last couple of weeks. Lots and lots of people who normally turn a profit have been burnt. Most are not experienced at trading during a major conflict. It is different.

I do agree about recent weeks - the current situation has definitely rattled the markets. I'm just saying that if we are looking at the span of the past 6 months before the original post, this alone is not likely to be blamed for less-than-ideal results.