[day trader]

Decided to start trading Forex full time, as it'll help me achieve me long-term goals faster.
Also I kind of am getting annoyed with the stock market, I've gone 3 months so far of breaking even with nothing but stress.
At least with Forex my profits are amplified with these funded accounts, so the RR is better: $20k account for $140 => risk $140 for $2-4k.

First day in and I took a 1% loss which was my fault, because I changed up my timeframes - used the 5 minute & got faked out.
Moved back to my original 1 hour / 4 hour / daily charts & I was able to go from $160 negative to $26 negative - imo that's a big recovery.
5 trades for the day, which is more than my 2-3/day limit so I stopped there, even though I could've taken one more trade.
Progress Screenshot:

I will be updating this thread every single day, it will also give me a "journal" of my trades throughout my journey.
In case people have questions, feel free to ask & I'll answer the best I can.

[VKNS]

Hi day trader,

Long term procrastinator here. I have a few questions if you don't mind:

• How did you get into day trading?
  
• What was your capital when you started?
  
• What are your total profits?
  

All the best,

VKNS

[Idan001]

Hi day trader,

Long term procrastinator here. I have a few questions if you don't mind:

• How did you get into day trading?
  
• What was your capital when you started?
  
• What are your total profits?
  

All the best,

VKNS

I would like to know as well.

[Vibe]

I’m confused how you get 20k from 140 is it a hacked account?

[day trader]

I’m confused how you get 20k from 140 is it a hacked account?

They give you funded accounts, where you have to pass evaluation stages.
Once you pass those stages, you'll get funded where you get to keep 75% of the profits, etc etc..
Completely legal, but it's not easy at all. I just blew up this account so gotta try again - it's the name of the game.
The reason I blew up my account was 50% my fault and 50% the market making no sense - a 1h/4h low made but sellers kept selling.
So next week I'm starting again with a whole new approach, adding simple EMAs to my chart for trend confirmation.
Clearly lows and highs don't matter much, I'm just going to use my strategy to trade with the trend rather than against it.

---

Hi day trader,

Long term procrastinator here. I have a few questions if you don't mind:

• How did you get into day trading?
  
• What was your capital when you started?
  
• What are your total profits?
  

All the best,

VKNS

1) I got into day trading because I've always loved computers, charts interest me a lot & I guess you could say I enjoy gambling lol..
2) $200 at first but then I got a job so over time I kept adding to my portfolio.
3) I'll be honest, this is the most disgusting market I've ever traded in - everyone is reacting on emotion, nothing makes sense.
I've only made like $8-10k last year from trading before the market turned into an absolute shit show.
During Trump's time the market was strong and it was a lot easier to make money, now that Biden's in office everything is shit.
So the simple answer to your question - not much profit, day trading imo isn't even worth it if you're just starting out.
I have lost thousands of dollars putting money into trading as well, so even with my small gains that I had I've made nothing that people dream of in day trading, with all the stress and pressure added onto it I can say I'm considering quitting day trading or taking a long break.

The only benefit of day trading is, if you succeed, you'll have financial freedom & an infinite cap of potential earnings you can make.
Especially with these funded accounts, with small capital you can amplify your gains - but you need to have discipline.

[TheSheepThatFollows]

good luck dude. im hoping to get a funded account myself and start trading soon.only thing thats stopping me is the risk that I might blow the account constantly and not get anywhere past the evaluation stage!

[day trader]

good luck dude. im hoping to get a funded account myself and start trading soon.only thing thats stopping me is the risk that I might blow the account constantly and not get anywhere past the evaluation stage!

The issue with trading is it's near impossible to become profitable fast.
You're bound to take losses, just need to accept it and make it work.
This is why I have a 9-5 making me $4k a month so I can always have rebound money.

[TheSheepThatFollows]

The issue with trading is it's near impossible to become profitable fast.
You're bound to take losses, just need to accept it and make it work.

I agree with that too

[day trader]

I agree with that too

It's the moment you give up that you lose.
If you keep going and stay dedicated - you will eventually win, that's inevitable.
I refuse to let this fucked up market scare me out of an amazing opportunity, so I keep getting back up no matter how much it puts me down.

[xPlutus]

Well mate, hats off to you for jumping into Forex trading full time. It's a wild ride, no doubt, but it's one that can be quite rewarding if you play your cards right.

From my own 6.5 years in the game, starting with indicators and now to naked charts, I can tell you that it's a journey. Each day is a new learning opportunity, so take that blown account as a lesson, not a defeat. You've already shown resilience by bouncing back from a $160 negative to $26 negative. That's not just a recovery, mate, that's an indication of your tenacity and adaptability.

I feel you on the whole stock market scenario. Sometimes it's more of a stress pit than a profit pit. Forex, with its funded accounts, can indeed offer a better RR. I'm currently funded too, aiming to get between $500 and $1 million in funding by the end of this year. So I know the thrill and the grind it involves.

Remember, it's not about how many trades you make in a day, but how smart those trades are. If you've hit your 2-3/day limit and you've made solid decisions, then that's a good day in my book.

I'm glad you're planning to keep a journal of your trades. That's a brilliant move - it'll help you track your progress, learn from your missteps, and refine your strategies.

Feel free to throw any questions my way. We're all in this together, learning and growing from each other's experiences.

Good luck on your trading journey, mate. Keep that passion and perseverance going, and I'm sure you'll reach your long-term goals before you know it!

[day trader]

Well mate, hats off to you for jumping into Forex trading full time. It's a wild ride, no doubt, but it's one that can be quite rewarding if you play your cards right.

From my own 6.5 years in the game, starting with indicators and now to naked charts, I can tell you that it's a journey. Each day is a new learning opportunity, so take that blown account as a lesson, not a defeat. You've already shown resilience by bouncing back from a $160 negative to $26 negative. That's not just a recovery, mate, that's an indication of your tenacity and adaptability.

I feel you on the whole stock market scenario. Sometimes it's more of a stress pit than a profit pit. Forex, with its funded accounts, can indeed offer a better RR. I'm currently funded too, aiming to get between $500 and $1 million in funding by the end of this year. So I know the thrill and the grind it involves.

Remember, it's not about how many trades you make in a day, but how smart those trades are. If you've hit your 2-3/day limit and you've made solid decisions, then that's a good day in my book.

I'm glad you're planning to keep a journal of your trades. That's a brilliant move - it'll help you track your progress, learn from your missteps, and refine your strategies.

Feel free to throw any questions my way. We're all in this together, learning and growing from each other's experiences.

Good luck on your trading journey, mate. Keep that passion and perseverance going, and I'm sure you'll reach your long-term goals before you know it!

Thanks a lot for your kind words 🙂
Trading has been nothing but stressful, but I refuse to let the market win. I know I can be profitable this year, I just keep screwing myself.
Like today, I convinced myself to trade against the trend because price action was a bit unclear.
I've added one moving average to my charts for my next try on Monday, even though I hate indicators, this way I won't get confused.
I was profitable before with using only one MA with price action but again, convinced myself to change things - now I'm going back.
So with that being said, hopefully I can make it count this week - otherwise I might just go ahead and take a couple month break & refresh.
But I'm glad to know I'm not the only one in this.

[xPlutus]

Thanks a lot for your kind words 🙂
Trading has been nothing but stressful, but I refuse to let the market win. I know I can be profitable this year, I just keep screwing myself.
Like today, I convinced myself to trade against the trend because price action was a bit unclear.
I've added one moving average to my charts for my next try on Monday, even though I hate indicators, this way I won't get confused.
I was profitable before with using only one MA with price action but again, convinced myself to change things - now I'm going back.
So with that being said, hopefully I can make it count this week - otherwise I might just go ahead and take a couple month break & refresh.
But I'm glad to know I'm not the only one in this.

Sounds like you need to have a solid trading plan that you stick to. Discipline & staying consistent.

This video might help you see things from a third persons perspective: https://www.youtube.com/watch?v=tc-I2GgwRJI

We all have our ups and downs, mate. I suffer from paralysis analysis as well😁. Make sure to do your daily markups, recaps. Weekly markups & recaps, and perhaps use https://www.fxreplay.com/ if you're looking for a good platform to simulate and backtest.

[day trader]

Sounds like you need to have a solid trading plan that you stick to. Discipline & staying consistent.

This video might help you see things from a third persons perspective: https://www.youtube.com/watch?v=tc-I2GgwRJI

We all have our ups and downs, mate. I suffer from paralysis analysis as well😁. Make sure to do your daily markups, recaps. Weekly markups & recaps, and perhaps use https://www.fxreplay.com/ if you're looking for a good platform to simulate and backtest.

Yep, I actually decided to add 3 moving averages to my 1 minute chart and 1 moving average to my 5m and 15m charts.
I hate indicators sometimes but price action you can interpret so many different ways, that you could easily choose the wrong direction.
At least having these MA's on my chart I can use that for direction, and then combine it with price action knowledge to predict reversals.
Don't need anything crazy like RSI/Stoch/SMC stuff/bla bla bla - I like to keep my setups simple.
All I can do at this point is hope for the best next week - if the market wants me to lose then it is what it is.
At that point I'll start looking at different avenues to put my money into.

I will update you guys Monday morning on how it goes.

[Nostre]

Decided to start trading Forex full time, as it'll help me achieve me long-term goals faster.

The problem with rushing into day trading is it's almost a guaranteed way to fail. You want to see consistent profits generated on a demo account for at least six months. This will help you build confidence and discipline when taking live trades and remove the anxious feeling you get prior to clicking that button and taking a trade.

Also I kind of am getting annoyed with the stock market, I've gone 3 months so far of breaking even with nothing but stress.

This is the road to being consistently profitable. When you start your journey, you will lose money. Hopefully, it is paper trading and not your actual funds. Once you start breaking even on a weekly/monthly basis, you are very close to becoming a consistently profitable trader. Make a few minor adjustments, review the trades you've won, and see why they went in your favor. Then view the losers and figure out the differences and what you've done wrong with your losing trades.

This will help you tweak your system to take less low-probability trades. You should only consider high-probability trades.

First day in and I took a 1% loss which was my fault, because I changed up my timeframes - used the 5 minute & got faked out.
Moved back to my original 1 hour / 4 hour / daily charts & I was able to go from $160 negative to $26 negative - imo that's a big recovery.

A 1% loss is very good. It shows you're not risking too much and managing your capital. And you're right, that is a huge recovery, congrats on persevering through your negative balance.

5 trades for the day, which is more than my 2-3/day limit so I stopped there, even though I could've taken one more trade.

Your first problem was overtrading. It happens to all of us. Follow your rules as if it's the law. You must treat trading like a business because it is. If the owner of that business is overtrading, the entire business will fail eventually.

I will be updating this thread every single day, it will also give me a "journal" of my trades throughout my journey.

Journaling your trades is by far one of the best methods to figure out what can be modified. Every single company keeps logs and data, so you should too.

I just blew up this account so gotta try again - it's the name of the game.
The reason I blew up my account was 50% my fault and 50% the market making no sense - a 1h/4h low made but sellers kept selling.

It was 100% your fault. The 50% you're trying to blame the market, you should have stayed out. If you're unsure of the trade, do not click the button. Don't be a victim of FOMO, the market is open five days a week.

It's called Day Trading, not Everyday Trading.

So next week I'm starting again with a whole new approach, adding simple EMAs to my chart for trend confirmation.
Clearly lows and highs don't matter much, I'm just going to use my strategy to trade with the trend rather than against it.

If you're switching your system, backtest it for a week at least. Don't get stuck in the loop of failing challenges and switching your system when you see losses. There are plenty of times when I take multiple losses in a row but I still stick to the same system.

During Trump's time the market was strong and it was a lot easier to make money, now that Biden's in office everything is shit.
So the simple answer to your question - not much profit, day trading imo isn't even worth it if you're just starting out.

The time Trump was president was easy because you're specifically looking for buys. A market like this shows a trader's full potential. If you want to make this a career, you need to adapt to market conditions. Fortunately, the market is run on an algorithm that makes it easier to trade. If the markets were actually moving because of people buying/selling, it would be consolidation 24/7.

The only benefit of day trading is, if you succeed, you'll have financial freedom & an infinite cap of potential earnings you can make.
Especially with these funded accounts, with small capital you can amplify your gains - but you need to have discipline.

Just because one can get lucky and pass both phases of a funded account, doesn't contribute to longevity. The majority of traders never make it after the initial challenge, let alone receive their first payout after completing the verification stage.

The issue with trading is it's near impossible to become profitable fast.
You're bound to take losses, just need to accept it and make it work.
This is why I have a 9-5 making me $4k a month so I can always have rebound money.

A person with good money management can become profitable fast. It wouldn't be much profit, but they would still be profitable.

I refuse to let this fucked up market scare me out of an amazing opportunity, so I keep getting back up no matter how much it puts me down.

This is exactly what all traders need to be successful. Judging from this post, your success will come eventually. Don't rush it though.

I've added one moving average to my charts for my next try on Monday, even though I hate indicators, this way I won't get confused.

If I could use an indicator to assist me with trading, I would. But they have always let me down so I refuse to put any on. If it helps you find consistency, then by all means, do it. There is absolutely no shame in using them.

I was profitable before with using only one MA with price action but again, convinced myself to change things - now I'm going back.
So with that being said, hopefully I can make it count this week - otherwise I might just go ahead and take a couple month break & refresh.

I do suggest taking a break from taking live trades. There is nothing wrong with finding yourself through times like this and it will only make you a better trader.

I will update you guys Monday morning on how it goes.

I'm looking forward to this.

I also hope you see my post as constructive criticism and not being an asshole. I would much rather see you succeed than fail.

[day trader]

The problem with rushing into day trading is it's almost a guaranteed way to fail. You want to see consistent profits generated on a demo account for at least six months. This will help you build confidence and discipline when taking live trades and remove the anxious feeling you get prior to clicking that button and taking a trade.


This is the road to being consistently profitable. When you start your journey, you will lose money. Hopefully, it is paper trading and not your actual funds. Once you start breaking even on a weekly/monthly basis, you are very close to becoming a consistently profitable trader. Make a few minor adjustments, review the trades you've won, and see why they went in your favor. Then view the losers and figure out the differences and what you've done wrong with your losing trades.

This will help you tweak your system to take less low-probability trades. You should only consider high-probability trades.


A 1% loss is very good. It shows you're not risking too much and managing your capital. And you're right, that is a huge recovery, congrats on persevering through your negative balance.


Your first problem was overtrading. It happens to all of us. Follow your rules as if it's the law. You must treat trading like a business because it is. If the owner of that business is overtrading, the entire business will fail eventually.


Journaling your trades is by far one of the best methods to figure out what can be modified. Every single company keeps logs and data, so you should too.


It was 100% your fault. The 50% you're trying to blame the market, you should have stayed out. If you're unsure of the trade, do not click the button. Don't be a victim of FOMO, the market is open five days a week.

It's called Day Trading, not Everyday Trading.


If you're switching your system, backtest it for a week at least. Don't get stuck in the loop of failing challenges and switching your system when you see losses. There are plenty of times when I take multiple losses in a row but I still stick to the same system.


The time Trump was president was easy because you're specifically looking for buys. A market like this shows a trader's full potential. If you want to make this a career, you need to adapt to market conditions. Fortunately, the market is run on an algorithm that makes it easier to trade. If the markets were actually moving because of people buying/selling, it would be consolidation 24/7.


Just because one can get lucky and pass both phases of a funded account, doesn't contribute to longevity. The majority of traders never make it after the initial challenge, let alone receive their first payout after completing the verification stage.


A person with good money management can become profitable fast. It wouldn't be much profit, but they would still be profitable.


This is exactly what all traders need to be successful. Judging from this post, your success will come eventually. Don't rush it though.


If I could use an indicator to assist me with trading, I would. But they have always let me down so I refuse to put any on. If it helps you find consistency, then by all means, do it. There is absolutely no shame in using them.


I do suggest taking a break from taking live trades. There is nothing wrong with finding yourself through times like this and it will only make you a better trader.


I'm looking forward to this.

I also hope you see my post as constructive criticism and not being an asshole. I would much rather see you succeed than fail.

I agree with everything you said pretty much, I know the only reason I'm not profitable is me - not the market.
Also I'm not paper trading because the problem with that is, paper trading involves no emotion..
I will win tons of trades on paper & lose on real $ then be disappointed.
And about the indicator statement, it's because I'm scalping, simply due to the fact that I cannot convince myself to hold trades long.
I know how to read price action fine but on these timeframes it moves so fast that I get faked out lol.

When I was trading stocks, yes it was real money that I was always breaking even on..
I only tried stocks because my mom's friend kept insisting that I should do it even though I planned on paper trading for 4-6 months.
Either way I'm not giving up, no matter how much I fail - I see these people getting paid out 5-6 figures from MFF & it gives me motivation.
I know I can do it I just need to stop letting myself overtrade, max 2-3 trades a day.
I also need to let trades come to me rather than chase them, that's another big issue of mine.
Once I fix that I'll be profitable no doubt about it.

Did some mental backtesting on GBPUSD with multiple different types of setups, and I finally think I found the one that works for me.
2 different indicators, 3 timeframes (1min/5min/15min) - simply wait for all 3 timeframes to crossover & take the trade.
Hopefully it works out on Monday, if it doesn't then I'll take a small break & come back to what made me $1400 on forex before.
And that was a simple MA on 1h/4h/daily, buys when all 3 above MA sells when all 3 below MA.. I believe simple strategies are best.
Which is why I'm trying out this strategy, it's simple yet effective.
I would've walked with 4% profit rather than a blown account on Friday if I was using it so I'm going to try it live on Monday.
Nostre do you think 40pip stop losses are too tight? I'm curious because maybe that's a cause of my losses?


UPDATE: Just decided to try something new - added notes to my Tradingview charts so I can physically see my strategy's rules.
In theory if I can have them in front of my face every time I'm looking to enter trades, I won't be tempted to deviate from them.
Hopefully this will be another thing that'll boost my chances of profitability. Excited for Monday.