HARD TRADING TRUTHS: Lessons Learned from a Tough Day Trading Forex
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- Опубликовано: 22 май 2024
- In this raw and honest trading vlog, I share my experiences dealing with a huge trading loss day. As well as some crucial lessons and mistakes to avoid when day trading.
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- TIMESTAMPS -
0:00 Intro
1:10 My trading background
2:14 My 5ers trading account MT5 data
3:23 The 5ers trading prop firm
5:42 Analysing AUDUSD losing trade
7:29 Setting AUDUSD trade entry exit
9:56 AUDUSD trade results
10:19 Losing trade reflections
10:48 1. Avoid this day trading mistake
11:37 2. Avoid this day trading mistake
12:13 3. Avoid this day trading mistake
13:11 4. Avoid this day trading mistake
14:19 5. Avoid this day trading mistake
14:49 Screenshots of losing trades
16:54 Huge losing day trading conclusion
Join me as I dive into the depths of a challenging day in my forex trading journey. I pull back the curtain on a significant loss day, sharing not just the numbers but the invaluable lessons and insights gained from the experience.
From trade analysis to risk management, I explore the critical mistakes made and offer practical advice on what to avoid in the world of forex day trading.
Key Takeaways:
- Detailed review of losing trades
- Insights into risk management strategies
- Lessons learned from setbacks
- Practical tips for navigating tough trading days
Trading is a journey with both highs and lows. Join the conversation, share your thoughts, and let's grow together in this dynamic forex landscape.
🔔 Subscribe for more trading insights and real talk about the highs and lows of the forex market!
I hope you enjoy!
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You will like this video if you are interested in:
- forex trading for beginners UK
- forex trader
- forex trading uk
- day trading for beginners UK
- day trader documentary
- the 5 ers forex
- 5ers prop firm
- trading losses
- trading lessons
- trading losses reaction
- trading loss recovery strategies
- forex loss stories
- day trading for a living
- day trading forex uk
- day trading forex day in the life
If you enjoyed this video, please LIKE and SUBSCRIBE for more videos! ✔️
Thanks!
Emily
- Mindfully Trading -
// DISCLAIMER
This video is for entertainment and educational purposes only. I am not a financial advisor and I am not telling you where or when to take a trade. I express my personal opinion only. Trading financial markets involves risk. I am not responsible for any losses incurred due to your trading. I do not recommend any specific trade or action, and any trades you decide to take are your own
#forextrader #forextrading #daytradinglife
One of the mantras: Trade what you see, not what you think.. Bless you Emily.. You're amazing juggling your life.. 🥰
Thank you Lesley, hope all is well with you 🙏❤️
Best video so far no cap!!
As most content creators do not show their loosing trade ...giving us false impression of the trading market....Everyone losses... the aim to have more wining trader than loosing trader!!!
Nice video Em. Its great to see your bad days aswell as your good ones. We all fall down now and again because were human and its impossible to stay focused all the time. I think you do amazingly well considering you have 2 young children. X
It's hard to give a thumbs up to this video. Thanks you for your honest sharing but I do not want to imply that I like that you had a bad day trading. I am pretty sure none of us would wish a down day on you. Great to hear you are learning from the disappointment. I try to learn as much from other's mistakes as I do from my own. I'll be watching this several times this week.
Ah thank you, yes all we can do is try to learn from these losing experiences, to make us better traders 💪
Forex being an OTC item is very vulnerable to manipulation by the market makers. Its best to always trade in Exchange regulated assets such as Futures and Options which has volume data and better analysis and trades can be done with the help of Volume profile analysis. If you still wanna trade Forex, first do a Volume profile analysis of the Currency Futures before taking trades in the Spot.😎😎😎
Thanks for sharing your tips 👍
There is no volume profile In forex
@@solomonodjegba6652 the currency futures has volume data. So you can use that before trading in the spot 😎😎😎
Thanks for taking the time to create this video. I enjoyed watching it.
Glad you enjoyed it!
It takes courage to post your mistakes online. Thanks for sharing, as it helps all of us learn from it. I’ve only watched a few of your videos. But you seem to have a level head and a willingness to learn from your mistakes. You’re also very kind and a good teacher.
As someone who is looking to get into trading, I feel I’m learning a lot. It’s a sub for me. 🙂
That's great, I appreciate that! Thank you 🙏❤️
Thank you so much for sharing this, it’s so honest. In a break of any high or low/support resistance in any time frame I find in backtesting it’s better to wait for the candle to close. If price is maintained set a stop below/above the candle preceding the break. In your trade the price was already falling and had failed the break when you bought. I’ve yet to properly forward test my results. Keep up the good work 🙂
Thanks for sharing your tips! 👍😊
Loss is A Nature Of Trading.. it is important how we handle our losses 🙂
Thanks for posting Emily. Monday's uurgghh, usually my worst day too. Price was at previous weeks high after pushing up for several days prior, and vice versa for the sells you took, price was at previous weeks low. A reversal was imminent.
Trading and being a parent can be hard at times, Last year, I had grown my own account from 6k to 16.5k over one month, one night, I had just put a trade on (before I took risk management seriously), had yet to place a stop loss when my teen autistic daughter whom also suffers from anorexia and self-harming, had self-harmed unexpectedly, police and ambulance transfer to hospital and I stayed with her the doctors sutured up her many wounds, hours later, when things had settled I remembered my trade, saw my account was down to 6k, not having the time to analyse the charts, I just added another 3k to buy myself time. We got home and all went to sleep. The next day, I was down to 2k remaining and was so livid with myself and the circumstances of the night before, lost all regard for my systems and blew up the account revenge and spite trading. So yes, I feel your pain and exhaustion, lol. Keep up the great content.
That's intense, yes it's not an easy path and neither is being a parent. But you did the right thing prioritising your daughter, much more important than trading. It is only digits and you can make it again. Best wishes 🙏❤️
thank you for this vid cause trading is always good theres good and bad days good job
Amazing , thank you for all , it’s become experience how should choosing the trade and what is the best time to trade
Great vid Emily. Thank you. I had a shocking week this week. It happens. I stepped away from the charts for a couple of days to regroup. Let's see what the coming week brings. Best of luck 😊
Glad to know I'm not the only one, best of luck 😉👍
Thanks for the video. Uganda loves you 🥳🥰
Thank you for sharing this with everyone Emily. If you must try the highs take next time, be mindful to tweak it
Thank you 👍
thank you
You're welcome ☺️
Nice video and congratulations on your second bundle of joy
Thank you so much 😀
Thank you for this honest video. All the others publish only successful stories making themselves as god of markets, and you Emily just show both sides of trading. Limiting your risk to 0.5% was wise, but taking 5 correlated pair was like taking 2.5% of risk. It is always better to learn from other people mistakes, so thank you for that.
Thank you, Glad it was helpful!🙏
After consolidation the price expands out of the contraction zone before trending. Expansion can be double sided and also repeated several times. I've seen examples of 7 legislation expansions. Price breaking above then below then above again etc
7 leg * expansions
Thank you Emily. Sorry for such a bad day, but your videos are awesome and inspiring 😀
I also speak good but that doesn't mean u should promote trading is very harsh business
9:55 Here I see an accumulation, manipulation, distribution (AMD, for short). Knowing this concept would have allowed you to profit here instead of losing. Using a divergence (with a some oscillator, e.g., RSI) would have probably helped you as well.
Good video to learn
Glad you think so!
Well done as a reflection! Also watch USD/JPY - continue the good work
Thank you 🙏
It is sad you had a bad day... But we learn in the process. Days like this brings out the best in us cause we figure out how not to go about it the next time.
That's right... Mistakes to avoid
@@Angelaseremet891 👍👍
I'm glad it helped, thank you 👍
Hey, thanks for sharing these.
How about using indicators that shows divergences just to increase the confidence of directional bias?, thank you!
should always wait for close above break
Sometimes chart is not clear so wait & don't trade same last week was Eurusd & GBPUSD was not clear to analysis , and i agree with you about monday is not a good day to trade because chart is not clear ... & market For December usually happens every year market more consolidation so is not good time to trade because chart is not clear
So wait & trade when chart in clear vision & foucs For 2 pair or 3 & the solution when chart is not in clear vision draw trend & channel & support & resistance manualy from bigger frame to small frame it help to see clearly & foucs For the best session london & newyork
Good work brings good results. It is a law of nature
Absolutely👍
Hey Emily, hope you're doing well! But if I have taken anything from this video it is when the PDH or low has been taken before your killzone trade against the breakout. I primarily trade the DAX, if by the time I wake up and the PDH or PDL has been taken I'm skipping london for two reasons. 1. An objective for the day has already be reached and thus a consolidation is coming. 2. DAX is a european indice and the main time to trade it is London so if London is not good I'm not trading it that day. It's good to have these rules to keep you out of the market on low probability days where you pretty much show up to have your money taken. All the best 😅
Brilliant tips, I will incorporate this thank you for sharing 👍😊
Emily, you make a clear point. When observing price movements, it is better to rely on the daily chart so as not to get confused. In this situation (AUDUSD), the price formed a new range from 0.62700 to 0.65200 when it “broke through” the high of 0.64400, respectively, after which it removed the relatively equal highs of September. Here you need to be prepared to reduce the price to an array of discounts below half the current range for a further long position . Be more careful and take a break from trading if possible.
Yes good idea, thank you 👍
This is so real, Friday's are my worst. And most of the trades I lose becoz I don't monitor after i place the trade😅
5pcs not really umilinited time. If account inactive for 14 days it will be closed
Only a very small percentage of traders make money, Martin Shkreli has good trading advice
New hwre☺️
I would of never traded this chart reason being look at those wicks. This chart is wick city lol. Wicks mean the stock is not holding it's gains therefore im not 🚫 interested on trading it best to wait for a decent stock or wait till tomorrow.
Great point 👍😉
@@MindfullyTrading
Best of luck finishing out the year strong and let's watch that risk management 👍🏼
Trading is not emotional it's system trading with strict stop loss
one pair at one session may bring more consistent results
Great to see analysis of losing trades. A losing strategy can be turned into a profitable strategy if you can avoid unnecessary losses.
Hi, can you teach me forex trading please
Hey Emily is there any other way I can contact you?
my luv......
LMAO….yeah, the companies ‘Capital’ 😂😂😂😂
part of trading is drawdown
2500 loosing is normal for, I think you don’t understand the system, it’s suppose to make profit not loosing…😅
oh gosh...this was hard to watch
Stick to 1 pair. If you trade multiple pairs you will never master 1. 5 times the amount of analysis and backtesting. Doesn't make sense
Thank you 👍
Do not trade FX!
Too much manipulation by the market makers!
Trade stocks during US session, there is a lot more potential to get better trades than in FX.
devil hides in details .....
Youre beautiful and cute
Oh thank you🙏
is that you really talking your lips seem to move off the voice ? is this a paid channel or something?
Thanks for sharing Emily so helpful to see how to also analyse losing trades as they happen to us all 🫶🏻
Glad you enjoyed it!
Thanks 🤍
You’re welcome 😊
Hi Emily, I emailed you and you haven't responded. Great video! Here's the email:
Hi Emily, Congratulations on your new baby! You're such an inspiration!
I'm 56, married 28 years to my lovely wife 4 children, live in London UK. Trying to make it as a Full time trader
I'm with the Fivers and I just blown my Funded AC before my first payout. Not too happy about it. I guess my psychology is not right just yet. I'm going to retake the challenge. Any tips on how to bounce back from blowing an account? Would love a copy of your guide.
OLA ILORI
Hello @dunamiss333
You was obviously doing some right to pass your funded account in the first place. i am guessing like most of us, including myself. You just got carried away and more likely over traded. another content trader once said the more you trades you take the less, your wining percentage will be...so get back on the bike my Brother with confidence of doing it all again having worked a bit on your psychology!! All the best !!
Do you still remember the stock Kodak? What is your opinion on the trend of Kodak stock in the past three years?