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Should I quit trading forex? 201 replies

How many pips or % to quit? 17 replies

Quit Job , go Back to School, Trade Forex? 33 replies

bad position - quit now or wait ? 14 replies

Attachments: I plan to quit forex!
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I plan to quit forex!

I've quit a couple of times but always came back because I knew I could do it. I'm glad I didn't quit. I just had to find a strategy that worked for me and that was easy for me to understand. I am still trying to be more consistent but I am more consistent than I was when I wanted to quit. Continue to educate yourself.
Quoting mlawson71
The original poster has not been around for about two years now, I think he really has quit trading.
I think so; and it’s very common scenario; in everyday a number of traders leave this market. That’s the real challenge!
Quoting GeorgeBaile
{quote} I think so; and it’s very common scenario; in everyday a number of traders leave this market. That’s the real challenge!
But every day newcomes also join the market. In a way that's the beauty of forex trading, it's very dynamic.
Quoting mlawson71
{quote} But every day newcomes also join the market. In a way that's the beauty of forex trading, it's very dynamic.
No doubt on it! And I think, new traders have better opportunities since, nowadays educational instruments are available here and there by comparing our beginning stage!
Quoting GeorgeBaile
{quote} No doubt on it! And I think, new traders have better opportunities since, nowadays educational instruments are available here and there by comparing our beginning stage!
True. Newbies these days have access to so much more information than when I started, let alone the people who wanted to trade before the advent of the Internet.
I am still a beginner myself.
I don't know how to give up. Is quitting considered as "gibing up"?
Quoting mosesm102
I am still a beginner myself. I don't know how to give up. Is quitting considered as "gibing up"?
If you are a new trader; focus on learning instead of earning! To be a good performer; 1st of all you have to make sure your own trading skill first!
Quoting Adelhard
{quote} If you are a new trader; focus on learning instead of earning! To be a good performer; 1st of all you have to make sure your own trading skill first!
agreed, learning should be the first step, don't create a mindset about forex being hard, just because someone else is quitting, judge that for yourself. be positive you will succeed and you will.
Quoting Dumaresq
Don't quit, still learn in the mean time whilst you work, keep at it, anyone can learn to trade very very well, it takes time and dedication.
Solid advice.
Quoting mosesm102
I am still a beginner myself. I don't know how to give up. Is quitting considered as "gibing up"?
It depends on what you are giving up on. If you're quitting you're obviously giving up on trading. If you're abandoning a strategy you're just giving up on a strategy.
Don't panic and try to concentrate on things you already honestly achieved anyway. Everyone have bad days and it's not something you should really be afraid of. See how many replies you already got, so maybe you will change your mind all together and we can propose you something on which you will agree with what. Thanks for all you are doing for us by reminding how hard forex market is for anyone and without proper education you shouldn't even go there totally.
It has my experience that trading small time frames make trading very difficult. The loer the time frame the less the chart makes sense. Why is this? Too many totally different cycles are squeezed together when the data is turned into a chart. A one hour chart 20 SMA will print using all the data from the last 20 hours of trading, right? Well in the last 20 hours you have gone through volatile hours like the London and US Opens as well as totally dead times like the Aussie Open,etc.

I have yet to meet anyone capable of building wealth with these small time frame systems.Sure, they have good runs on occasion but then what? They run out of gas, get bored, trade without discipline and well, you know!

he success started happening for me, in both trading stocks and Forex, when I started trading simple and solid setups on Daily time frames and even some weekly set ups.

Let's say you have a good solid method the gives you a solid 30% Annual Return risking 1% per trade. Not very exciting, you say. How about if you you take 10% of your account and risk a whopping 10% per trade. Now will will show an amazing 300% Return using the exact same system.

Assume I have $100,000 total to trade with. Apply the first scenario. How much do I risk on the first trade? How about the second situation.
Hello I am Shane.

Trading is easier than you think.

Small things make the difference.

Life is simple. Trading is simple.

BUT both come with hard work...always.

1st lesson - spend time looking at charts. Different time frames, Different pairs. A lot of time....

Don't look for easy answers - none.
The original poster hasn't been around in a long time, he has probably decided to quit trading indeed.
I quit. Or so i thought. Here I am again.
Monkey See, Monkey Do
Quoting 6200trading
It has my experience that trading small time frames make trading very difficult. The loer the time frame the less the chart makes sense. Why is this? Too many totally different cycles are squeezed together when the data is turned into a chart. A one hour chart 20 SMA will print using all the data from the last 20 hours of trading, right? Well in the last 20 hours you have gone through volatile hours like the London and US Opens as well as totally dead times like the Aussie Open,etc. I have yet to meet anyone capable of building wealth with these...

Trading small time frames is difficult because of EFFICIENCY. Can you make sure you follow EVERY SINGLE trade signals generated by your trading system? Unless you are into HFT or Algos to trade small time frames if not it's a NO GO because it will be too random in the end!
Quoting TradeTarsier
I quit. Or so i thought. Here I am again.
Never give up! Keep trying hardly; try to make a good trading skill on chart reading!
Quoting GeorgeBaile
{quote} Never give up! Keep trying hardly; try to make a good trading skill on chart reading!

that's what i've been doing. will post stuff once i get out of junior member status.
Monkey See, Monkey Do
Quoting TradeTarsier
{quote} that's what i've been doing. will post stuff once i get out of junior member status.
For how long have you been trading now?
Quoting TradeTarsier
{quote} that's what i've been doing. will post stuff once i get out of junior member status.
That would be really great! I am really excited to see your trading chart!
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