I am trying for about 3/4 year to establish a successful and profitable trading strategy – but so far no success.
I started with simple fibonacci retracement and the “Trend is your friend” which worked OK but not very profitable for me. I worked on my Risk Management and wanted to improve how to find Entry and Close signals.
Then I started to become really interested. I read about Indicators and strategies, went through many reddit posts, watch Youtube Videos, buy books and read them entirely. First it was SMI and RSI. I even programmed my own Indicators on TradingView, just because I wanted to really deeply understand the mathematical/statistical functions.
Then I learned about Divergences. After that I read books from and about Wyckoff. It was followed by Volume Spread Analysis, Supply & Demand and Price Action.
Each time I learn something new, I open the tradingview App and do a lot of backtesting. When I feel a little bit confident in one Strategy I use it in a demo Account or challenge. At the end it is always the same result -> no success.
Currently I am testing Andrew’s Pitchfork in Combination with SMI / RSI and Volume Analysis. Again I am reading books, doing a lot of backtesting. I really like the basic idea behind it and it is really impressive to see how this method can forecast important price movements. Still somehow I cannot use it profitable.
(Just for better understanding: I am not using every Method I learned at the same time. I just want to learn and practice a lot)
I understand that Trading is a longterm learning process, hence I don’t want to pressure myself too much by measuring profitabilit too early. But I also do not want to be stuck in an endless learning process without making progress in practice. I need to find out my mistakes and currently I cannot see what I am doing wrong. I have some friends which do not really have a Strategy, but make already real money with what I call “advanced gambling” on FTMO while I am still in my first Challenge.
Do you have an idea what could go wrong? Similar experiences?
submitted by /u/Correct-Ad-6825 to r/Daytrading
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