This is based on my journey/experience in forex. Others might differ.
1. I have spent around 5 years trading forex, I have tried everything, coded many robots, etc.
2. I have not been profitable till recently. Forex is not easy, it is difficult. But once you have mastered the art, it's easy. Like when you learn to swim, first it is hard, but once you 'get it', you can swim easily. Same as cycling too.
3. You need an edge. Nobody will reveal their edge easily. Without an edge, whether it is statistical or not, you cannot beat the market, no matter how good your money management is.
4. Once you have found your edge, you can turn it into a robot(if your edge is mechanical), otherwise, you have to trade manually (if your edge is discretionary).
5. I don't trade using indicators. The price is my indicator. Have you heard of "Price is everything"? But I know some people are very successful trading using indicators.
That's all for now. I would like to listen to other traders' too. Would be very interesting if we could share our experiences and journeys.
Thanks for sharing. You got some interesting facts.
What do u consider as an "edge"? How do u determine one? Do you stick to one strategy whether winning or losing for a certain period of time, forward testing in order to deem it's worth to continue or give up and try something else?
When it comes to finding the right strategy for ourselves, I think it's important to "fail fast". Motivation and energy will drain. I always wonder how the traders keep the motivation high up to keep moving on. This is something that I wanna learn from fellow traders here.