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[Solved] when you become profitable
I was profitable in the last month, how long do you think I should be profitable to be able to increase the volume size?
I see. A forex advantage is that you can increase your volume in very small steps and that's ideal.
I don't think being profitable for a month is enough to decide that you are profitable. Take me for example: After my first profitable month, I had one year of consecutive losses month after month. And part of that was because I couldn't deal with the fact that I was wrong when I though I was profitable.
That being said, I think a profitable month is a good indicative that you might be ready to start testing a little bit with how you deal with a slightly bigger position.
As I said, just take small steps and experiment. Now is definitely not the time to make money. It's time to learn how to trade well and learn how to detach your focus from money.
Al advices that a trader should be profitable for 3-4 months in a row before considering increasing their position size.
Thanks a lot
I'm a forex market trader and I risk a little per trade. Al says first you see are profitable or not.I don't know that one month is enough for me to know that I am profitable or not.
I heard a young lady turned superstar trader make a statement that she was able to size up and become a profitable trader only when she was confident in her patterns and setups. Before that she felt that she was just gambling and winging it. It made perfect sense to me because that is exactly how I felt especially while I was trying to grasp the concepts of Price Action trading.