The support forum is built with (1) General and FAQ forums for common trading queries received from aspiring and experienced traders, and (2) forums for course video topics. How to Trade Price Action and How to Trade Forex Price Action videos are consolidated into common forums.
Brooks Trading Course social media communities
Retail traders trade CFDs usually because they are underfunded. Are you underfunded?
If that is the case, you should stop trading real money until you have saved enough to trade futures contracts directly. Rags to riches doesn't happen in trading.
Once you have saved enough to trade (for example) 5 ES contracts, trade 1 micro and see how you get on.
Aside from the funding issue, CFDs are a secondary market created by bucket shops, and unlike a regulated exchange, they WILL run your stops and they WILL give you horrible fills, no matter what their advertisement says. They themselves make the market and they can see everyone's positions, stops and limits. What do you think they'll do?
This is not the reason people here in Sweden for example trade CFDs instead of the Futures. It has all to do with the cost. The cost is much greater in Futures and CFD allow us to pay allot less. Dont know the exact number, but since the spread are pretty low at some CFD brokers, you cant argue that.
Haha, and speaking of the stops they are running us on, horrible fills and the other things you are saying, I dont care. Theres always gonna be a disadvantage anyway, no mather where you go, and I couldnt care less. I record my screen, and I can see when bad fills happen, but they rarely do. It happens just like for everyone else, when the market goes up or down VERY quickly, only then the fills wont be that good.
How come so many of us make money in CFDs? Well, we dont focus on what you think about them, I let them do whatever they want, I trust myself and that I can make money no matter what. Its just really stupid to even care about this sort of stuffs, wont even help you a bit. Disadvantage will be where ever you trade, dont fool yourself with anything else, dont just let it take over you, I beat them anyway, thats all that matters.
You should watch a Big CFD trader like Tom Hougaard, he will tell you the same.
This is not the reason people here in Sweden for example trade CFDs instead of the Futures. It has all to do with the cost. The cost is much greater in Futures and CFD allow us to pay allot less. Dont know the exact number, but since the spread are pretty low at some CFD brokers, you cant argue that.
Just so I understand, are you saying CME or international brokers like IB have different margin requirements for countries like Sweden?
That I dont know. But for example, I trade the Dow Jones, The spread is at 2.4 points. Thats a really low cost for us to open positions.
The lowest one ive found, that Tom Hougaard trades from, is TD365, I believe the spread there on the Dow is 1.5 points. Sadly here in Sweden, its not that many brokers to choose between, its way to few tbh.
Hi All,
I want to express my gratitude for taking the time to share your thoughts and insights with me.
In asking about profitable traders on this forum, my intention was not to pry but to seek encouragement from those who have succeeded. In an industry filled with desperation and charlatans promoting expensive and often useless courses, Al Brooks' teachings stand out as unparalleled. I hold onto the hope of becoming proficient, consistent, and ultimately profitable thank to this course. The difference in my trading since discovering Al Brooks' courses has been so remarkable....
Alexander, while your comment about "it won't work out for you" felt a bit harsh, I do appreciate your emphasis on prioritizing the trading process over fixating solely on money. You're absolutely right—money is undeniably too much important to me. Work in progress....
Understanding trading psychology remains an ongoing challenge for me. I often find myself second-guessing my decisions, regretting exits prematurely, or imagining the market skyrocketing just after I enter a long position. Working on minimizing these emotional reactions, and I'm thankful for the opportunity to openly discuss and address these issues here.
"Managing oneself while trading" and "focusing on the process" are valuable reminders, and I'm trying to incorporate these principles into my trading approach.
I still strongly believe that the technical aspect of analysis is key. Some trading days are easier than others, I really do not think that is soly due to emotions aspects. I've come to understand that mastering various market types takes time—perhaps even up to 10 years, as some suggest. While I've made significant progress, consistency remains a hurdle, and certainly because nowas emotions play now a larger role relative to my technical skills.
Regarding funding, while my trading account is small, it's not due to a lack of funds. With CFDs, I can trade daily with a $1000 account without fear of losing all of it. My goal is to demonstrate consistency with this amount and gradually increase it over time. As for trading size, I've already significantly reduced my risk per trade, down to sometimes less than $10, difficult to do less (thank you CFDs !).
On the topic of CFDs, I agree with Alexander's sentiments. in addition, they may not intentionally lead traders to lose, the spread alone is certainly enough for them and the more one trades, the more the platform profits.
Once again, thank you all for your insights, and I eagerly anticipate further engagement with the community!
Patrick
Alexander, while your comment about "it won't work out for you" felt a bit harsh, I do appreciate your emphasis on prioritizing the trading process over fixating solely on money. You're absolutely right—money is undeniably too much important to me. Work in progress....
haha, I may have been. Could be that ive been told the same when I was desperate and didnt really know what to do.
But its really true, it is. Learn to accept the uncertainty and that you wont make things perfect and that all your focus should be on managing the trade and just doing whats need to be done. If you have your edge, the knowledge and incorporate this things, things will start to click at some point.
Wish you well Patrick!
// Alexander
Thank you Alexander
