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Re: Is it even possible to make consistent money in trading

#12
I’m sorry to hear that you’ve taken some losses. I do think it can provide consistent profits, but it takes work and time. Obviously you’ve been at it for a while so I wouldn’t suggest giving up, just focus on risk management and try to figure out what’s gone wrong in the past so you can learn from it.

Re: Is it even possible to make consistent money in trading

#14
I'd say no. There is no way to make a consistent return because it depends on what the market is doing. Ok, so, many markets but let's just say the US30. It was asleep last couple of months in terms of vol. Am I hoping to cover that period in the next few weeks? Yes I am. Is that guaranteed. Nope.

Re: Is it even possible to make consistent money in trading

#15
You have to think of trading the markets as an apprenticeship which will take you about five plus years before you even start to break even.
Yes, you will blow up your account, better still if you blow it up twice, Yes a sore learning process but a definitive one at that.

Also, during your apprenticeship time you trading strategy will change as you hone your newly acquired knowledge and you may even change the type of markets that you originally traded (possibly from Forex to Indices or Commodities).

During your time served, you will gain a greater understanding of ebb and flow, you will see consolidation where price ranges followed by breakouts and you will be able to take advantage of these repeated moves.

Over the years I have discovered that the markets are made up of fractals of self similar patterns that are found in ALL TFs where all traders trade within a specific TF that is in their comfort zone.

Simply stick with it and you will come through the other side a better trader than what you started out as.
Xard777
XARD: Use the Orange ZZ line as your Intra-Day BIAS - Use the White Dot as your IntraDay HIGH/LOW - Use the White ZZ line for IntraDay EXIT - After a new Orange ZZ line appears, WAIT! for price to cross the Trend line to confirm a change in the Trend Cycle.


Re: Is it even possible to make consistent money in trading

#16
xard777 wrote:
Sat Oct 09, 2021 7:19 am
You have to think of trading the markets as an apprenticeship which will take you about five plus years before you even start to break even.
Yes, you will blow up your account, better still if you blow it up twice, Yes a sore learning process but a definitive one at that.

Also, during your apprenticeship time you trading strategy will change as you hone your newly acquired knowledge and you may even change the type of markets that you originally traded (possibly from Forex to Indices or Commodities).

During your time served, you will gain a greater understanding of ebb and flow, you will see consolidation where price ranges followed by breakouts and you will be able to take advantage of these repeated moves.

Over the years I have discovered that the markets are made up of fractals of self similar patterns that are found in ALL TFs where all traders trade within a specific TF that is in their comfort zone.

Simply stick with it and you will come through the other side a better trader than what you started out as.
Xard777
cool to see you in this thread!

Re: Is it even possible to make consistent money in trading

#17
I think the most important part not only the right strategy, trading psychology play a big part in this game!
Success is a lonely road.
Success in anything worth having is tough.
trading isn't something you're going to become profitable with overnight.
It take hard work, dedication and perseverance.
---Daily Time Frame Algo Trader

Re: Is it even possible to make consistent money in trading

#18
It is definitely possible to make consistent profits. I would suggest you spend a bit more time on the education side of things. Trading is an occupation and you should study for the same way you would if you were training to be a teacher or accountant. It is not a quick & easy way to make money, it takes time so be patient.


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