I was losing $18 before but made $26 - page 2.

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Quote from: GiftedMAN on September 25, 2024, 06:23:57 PM

Sometimes trading can be luck and that doesn't mean that op is a good trader or is very skilled...

It's too early to draw any conclusions based on two completed trades. And the fact that OP currently has a small profit may change overnight and he will lose his deposit after several unsuccessful transactions.

GiftedMAN

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Quote from: Zigabel on September 25, 2024, 08:18:38 AM

Quote from: ? on September 24, 2024, 12:04:31 PM

This is today's trading

I was losing $18 before but gained $26. £500 as trading asset with 4x leverage.

Is that good?

Its a good one but on a cumulative pnl it's such a very risky line of action that shouldn't be encouraged because if the total sum of the market movement is in a direction that isn't in your favor, your losses would be heavy, 4x leverage isn't so bad but aswell a risk leverage margin, as in trading, the most important factor always lays within your ability to manage your risk and funds so well as risk management and funds management are the bases and bedrock of trading, away from that, you may have very slim lines of profitablity or may not be profitable eventually.

Sometimes trading can be luck and that doesn't mean that op is a good trader or is very skilled. Sometimes we get lucky when trading to place our trade in the direction of the market and suddenly, everything went well. I know a newbie trader that was making huge profits from trading every single day for about a week. I called it extended fortune because he was lucky to be placing trades in the market direction and it was looking as if he was getting it right. After some few days, he started making loses asking questions here and there what could be the problem. This is luck and sometimes we know to be conscious that there will be some days when things might not work for us. Op using a leverage of 4x is cool but he also need to follow strict trading risk management.

EarnOnVictor

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Quote from: ? on September 24, 2024, 12:04:31 PM

This is today's trading

I was losing $18 before but gained $26. £500 as trading asset with 4x leverage.

Is that good?

I don't see anything you did wrongly with this combination, the £500 is not so bad as capital and neither is the leverage you used. But the question is, are you a newbie or an experienced trader? If you are a newbie, I advise you to stick with the lowest risk permissible by your trading platform. You are still learning so expect many ugly market conditions that might scare you or even anger you, but if you are sticking to a low-risk trading, it will not be too devastating.

Still, ensure you work with a good trading strategy and use good money and risk management. Gaining now doesn't translate to gaining later, you have to know that more losses are ahead of you, what would make you better is how to overcome them with the right psychology, trading system and plans. So get ready for the worst.

Peanutswar

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As long as you can gain a profit at the end of the day that's the essence of trading not always we are winning our trades we know how does the market is so volatile so the reason why trader makes an analysis do they cut their losses or still holding and now if you see a chance to get back for another trade making a position is the best suitable idea but again with a proper execution and plan and not just by getting carried with your emotions. We count our wins once we're done in trading not during the trades not all trades are wins.

Zigabel

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Quote from: ? on September 24, 2024, 12:04:31 PM

This is today's trading

I was losing $18 before but gained $26. £500 as trading asset with 4x leverage.

Is that good?

Its a good one but on a cumulative pnl it's such a very risky line of action that shouldn't be encouraged because if the total sum of the market movement is in a direction that isn't in your favor, your losses would be heavy, 4x leverage isn't so bad but aswell a risk leverage margin, as in trading, the most important factor always lays within your ability to manage your risk and funds so well as risk management and funds management are the bases and bedrock of trading, away from that, you may have very slim lines of profitablity or may not be profitable eventually.

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Losing shouldn’t scare you as a trader, especially if you’re just starting out. Every great trader has faced losses and struggles because that’s how we learn: trading is no walk in the park! If you want to excel in this field, you need to put in the effort and respect the risks involved.

Success comes when you do things right and strive for improvement. Remember, it’s not all about winning all the time. Given the volatile nature of the market, there will be moments when you’ll take losses. This is totally normal for every trader, no matter how experienced you are, because we can’t control market movements, which could lead us to trading against the trend.

tvplus006

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Quote from: ? on September 24, 2024, 12:04:31 PM

...Is that good?

Yes, that's good. Any profit is preferable to a loss. You use low leverage and this is also good. But you also need to learn more about risk management so that your further trading is safer for your deposit.

shinratensei_

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if you're trading future and have unrealized floating loss right after you're opening your position, it's normal, very normal if i'm being honest, the important thing is you set SL and make sure it's around the resistance with some toleration to avoid getting long or short squeezed.

if you're making profit right now then good for you, trading with 4x leverage is still on the responsible trading side in my opinion, it only become reckless when you leverage more than 10x.

keep up the good work and eventually you will get used at how future trading work and how to take full advantage of it.

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Quote from: crwth on September 24, 2024, 02:51:48 PM

It is good. You must realize that there are unrealized profits and losses; they will be paper losses that have not yet been realized. You will be a successful trader if you don’t lose a lot of money and keep growing every trade. It wouldn’t be perfect, but as long as you stay consistent with trying to trade.

Based on your trade it’s good. Keep it up!

I agree, if we see our fellow traders making good money or at least in the net positive then it's good. And he said that he is losing $18 initially, and maybe he learn some mistakes along the way and so at the end of the day, he made $26.

It might not be that big for some, but I guess the lesson here is that we should not be in a hurry to make big profits, as long as we are making good return in a day or two, then that is good enough. Until we become seasoned trader, and knows a lot of tips and tricks along the way.

So keep it up and hopefully you will come back with a big profits here.

BitMaxz

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Quote from: ? on September 24, 2024, 05:41:13 PM

It was the same trade. I did not lose $18 but I was losing it before and later I gained $26 before I closed the position.

You mean you didn't close your position when the profit is negative $18 and you keep holding position and later you gained $26 before you closed position?
I don't know exactly what your strategy is, but your risk ratio is nearly 1:1 if $18 is your target loss and $26 is your target profit.
Are you trying to gamble on leverage trading?

My advice is to be consistent and keep learning. I have a good source to start learning about technical analysis check this one Getting Started with Technical Analysis

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Quote from: BitMaxz on September 24, 2024, 01:38:51 PM

It's normal to lose in trading, like you said you lost $18 before If it was the same leverage as what you did today and made $26, your ratio is pretty near to 1:1.

It was the same trade. I did not lose $18 but I was losing it before and later I gained $26 before I closed the position.

terrific

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Quote from: ? on September 24, 2024, 12:04:31 PM

This is today's trading

I was losing $18 before but gained $26. £500 as trading asset with 4x leverage.

https://talkimg.com/images/2024/09/24/gLlAw.jpeg

Is that good?

Yes, that's good. As long as you're making money with your trades. You're not a bad trader at all and having these losses in the past, they're normal.
You're on the right track but if you're good with 4x leverage, that's not a lot but still quite risky IMO. Anyway, others have been risking all of their lives with that thought that 10x leverage isn't something risky at all.
Good job, OP!

yhiaali3

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Yes good, in my opinion you did a good job as a beginner, you lost $18 and won $26 which means you came out with a net profit of $8, it is true that it is a small profit but it is better than coming out with a loss.

It is also good that you did not risk a large capital at the beginning, it is also good to follow a profit-taking strategy even if it is small at the beginning until you gain enough experience and then you can follow your own strategy that you have acquired through many experiences.

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Quote from: ? on September 24, 2024, 12:04:31 PM

Is that good?

The challenge for most traders is not to be successful once in trading but to maintain a consistent profitable result from each trade.

If you are new to trading, appreciate these small victories, but do not let them derail you from your ongoing efforts to consistently make money from trading because more knowledge is always required. A trading strategy that is able to earn you some little amount of money will be able to earn you more as you strive to master it, and mastery will only come when learning continues.

crwth

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It is good. You must realize that there are unrealized profits and losses; they will be paper losses that have not yet been realized. You will be a successful trader if you don’t lose a lot of money and keep growing every trade. It wouldn’t be perfect, but as long as you stay consistent with trying to trade.

Based on your trade it’s good. Keep it up!

Lida93

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Quote from: ? on September 24, 2024, 12:04:31 PM

This is today's trading

I was losing $18 before but gained $26. £500 as trading asset with 4x leverage.

Is that good?

That's trade basically, it's either you're losing or winning your position. However, don't let this win get into your head, continue maintaining whatever risk tolerance strategy you're using and don't get greedy.

Like the first comment above, I'll also emphasize on you doing some critical evaluation on the two trading outcome you've now. Get to know why the other trades we're in lost and why you won this very one. It will help you to know you uncover underlying mistakes you were not paying attention to or probably was ignoring.

BitMaxz

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It's normal to lose in trading, like you said you lost $18 before If it was the same leverage as what you did today and made $26, your ratio is pretty near to 1:1.

Are you consistently following the default risk-reward ratio, or it just depends on your guts when to exit? without stop loss, you will always lose high amount.

If you are still a beginner, then you should learn from your mistakes, review what you did, and see why you lost $18 before and won $26 today.
Anyway, congrats on your profit and be consistent.

?

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This is today's trading

I was losing $18 before but gained $26. £500 as trading asset with 4x leverage.

https://talkimg.com/images/2024/09/24/gLlAw.jpeg

Is that good?

Topic: I was losing $18 before but made $26 - page 2. (Read 384 times)