I started trading without any education beyond a demo account for three months and a software package I bought that was supposed to give me entries and exits. The outfit that sold that package went out of business shortly thereafter. Does any of this sound familiar?
I also tried varying my trading strategy, or more correctly trading strategies, including the amounts at risk in any one trade, because nothing worked consistently. Does any of this sound familiar?
I watched helplessly as a huge spike crashed down through my stop loss positions and found that "Surprise, our contract says that we aren't responsible if the market moves so fast that our touted superfast trading computers couldn't keep up so will you please come up with some more money for your trading account margin protection." Does any of this sound familiar?
I wandered around the internet, went to 'expos' and followed the trading advice of several gurus employed by reputable firms. (You probably know who they if you surf around the net) I also followed the advice of several individual gurus not affiliated with any recognized trading firms. Boy did I see some scams along the way! Does any of this sound familiar?
I was basically treading water, neither losing a lot nor gaining a lot on a consistent basis. One day I decided to try a free ten day trial of a educational training room. I had seen a brief presentation on the system that was taught at the Dalas Expo, and it looked good, but involved fibonacci levels and technical stuff that I didn't like because I don't like math. But I figured, "Ten days free, why not check it out?" I learned two basic things in those 10 day. 1. You cannot win as a 5-10 pip scalper unless you are correct 90% of the time. 2. A trade set up that was described as effective 90% of the time and that sounded good--but I didn't buy into the program. Smart guy that I am, I figured to try out the 90% trade I had learned to see if it worked over time. It did. I started to make consistent pips at levels way beyond the 5-10 pip scalp I had been using.
That doesn't sound familiar does it? Well, I went back for another 10 day free trial about a year later---and I was sold on the system and the tools. Since then I have been consistently trading profitably, so much so that Oanda gave me an "attaboy" certificate that I was one of their 'Elite Traders." Now that just means I was in the top 5-8% of their traders for the year, but at least I don't feel like a jerk any more. I banked a net of 93, 237.1 pips on my FXbook portfolio since June of 2014, and I'm very happy with my progress. The cost is absolutely insignificant considering the results. I feel like I can trade with confidence daily because I can interpret where the Big Boys are going.
If you look around you can find this program it is ProAct Traders. I don't want to come off as a shill who makes money off of this post. Nor a know it all. I'm still learning at this program's daily mentoring every day. I'm sure there are other reputable mentoring programs out there--but this is the one that turned things around for me. Good luck with your trading."