Thank you very much for this great list with advises. This is really useful! I'm always looking for good tips in forex trading, since it's such a complex topic it's not always easy to get the right answers, because you need an overview at first to be able to start! And this is quite exhausting in the beginning!

I have so many setups that look good, but they all suffer from one problem - they show what was, not what will be.

The thing to bear in mind is that this is NOT the stock market, which indicators were designed for, these is no profits or losses either, hence no tax, only winners and losers, so trying to make everyone profitable is like an oximoron, its just not possible. My advice ( and what I do) is to setup one currency pair using about 5 different setups and then check the timeframes 5mins, 15mins, 30mins, 1hr, 4hrs, daily, weekly, and see which ones suit which timeframe, then leave them there, so you have a 15min one, a 30 mins one and so on. Now that works as it stops you getting carried away at the first signal you spot...

Not trading IS making a profit :)

Originally posted by realincome

I have so many setups that look good, but they all suffer from one problem - they show what was, not what will be.

The thing to bear in mind is that this is NOT the stock market, which indicators were designed for, these is no profits or losses either, hence no tax, only winners and losers, so trying to make everyone profitable is like an oximoron, its just not possible. My advice ( and what I do) is to setup one currency pair using about 5 different setups and then check the timeframes 5mins, 15mins, 30mins, 1hr, 4hrs, daily, weekly, and see which ones suit which timeframe, then leave them there, so you have a 15min one, a 30 mins one and so on. Now that works as it stops you getting carried away at the first signal you spot...

Not trading IS making a profit :)

I really dun understand few things of ur post. What I understand from ur post is that there cannot be all winners in forex which is true. But I dun get the "setup" thing.

Originally posted by FXlord

I think initially, we should just expect to win regularly, no matter the amount of profit.

 

I think, this is what we called confidence. When you have confidence in your trading skills, knowledge, broker and the likes expectation to win is not possible.