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Reasons for being a loser master

  • #81
  • Apr 16, 2016 1:38pm Apr 16, 2016 1:38pm
Quoting Mingary
{quote} {quote} {quote} If I forgot anyone I apologize. Why so much pretense ? I know that none of you are making a living trading the forex as your only source of income. I have always found it very hard to have a serious conversation about the true nature of spot retail forex. Surely, your job is safe. I am certain some newbie trader is still going to open an account even if I posted some honest remarks
LOL .. you haven't a clue about my situation. (Although I've been here long enough and open enough that you should) But I love the assumptions anyway.

Keep em coming!
Ghost Rider - WWTBMD?
  • #82
  • Apr 16, 2016 4:31pm Apr 16, 2016 4:31pm
I am beginer in trading currencies. So far I find out that main reason for loss is high trading volume of brokers levereage money (recomended is 0.01 lot per 100 dollars in bank so you never lose margin).

the second reason is bad enter/timing in trade and exit.
I am still od demo and use clear entry and exit signal and 0.01 lot per 100 dollars to test strategy.

here are clearly defined enters and exits.

http://postimg.org/image/v01lfvs1n/
  • #83
  • Edited 4:26am Apr 17, 2016 3:25am | Edited 4:26am
Quoting albchr
{quote} LOL .. you haven't a clue about my situation. (Although I've been here long enough and open enough that you should) But I love the assumptions anyway. Keep em coming!
I do hope that some individual results are better than others; statistically there will be some.

How about this assumption then:

I am looking at the total aggregate of all fx retail accounts.
In all its history there has never been a winning period for all aggregated spot retail forex accounts! (i.e the sum of all accounts)
Period after period the customer funds 1) do not increase in value and 2) are eaten away by transaction costs.
If you were to invest 1 penny in each forex account world wide, your return on your investment will be negative.

Here is a clue:
http://www.priceactionlab.com/Blog/2...tive-sum-game/

Also, you can get the relevant customer account metrics from FXCM for example and see for yourself.

Let's assume it's 1930 and retail forex exists at that time:
You invest 100 dollar in IBM and 100 dollar in the forex "aggregate accounts"
2016 - you are now a millionaire thanks to your IBM investment. Your 100 dollar forex investment is long long gone.


When you walk by a large forex brokerage building and you put your ear to the wall you can hear a very clear sucking sound
  • #84
  • Apr 17, 2016 3:44am Apr 17, 2016 3:44am
Trading now easy) If you have nothing and want to get rich from forex, you gonna have a tough time. Like they said strategy only 20-30% of success. If you have some sort of financial pressure, you shouldn't trade forex or at least just trade demo to practice. Everything just inside your head my friend, Good luck!
  • #85
  • Edited 3:57am Apr 17, 2016 3:55am | Edited 3:57am
Quoting sagor482
{quote} your ideas are helpfull
Haha Bro, this is not an idea. I enforce it on my student and myself. I always treat the money I trade as if it's someone else money. Do you think someone who entrust you with his hard earn money will like to see you lose so much a day?

So tell yourself, you are a trader working for "Sagor", Sagor is your boss, he want proper risk management, he doesn't want you to lose his money, he is happy with 10% a year. So just follow this rule first. If you break his rule, Sagor will put his money elsewhere.
The only winner is the one who survive the longest...
  • #86
  • Apr 17, 2016 4:48am Apr 17, 2016 4:48am
haha. ok sagor is my boss
  • #87
  • Apr 17, 2016 4:54am Apr 17, 2016 4:54am
Quoting Mingary
{quote} When you walk by a large forex brokerage building and you put your ear to the wall you can hear a very clear sucking sound
I like your sense of humour.......

I would probably agree with you about the failure rate of forex traders within the first year of doing this. Many will fail as they do not have the desire to learn or have the patience as they expect easy riches without any work.
But there are traders who have repeatedly failed & got back up again. Failure is when you don't get back up.
Yes, forex brokers wouldn't be in business if too many people were successful, and that also can be said if none were successful, they would eventually run out of customers, as there would be so much bad press.

Statistics can be misleading, it all depends on your source and can represent whatever your own opinion is.

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It never gets easier, you just get better
  • #88
  • Apr 17, 2016 7:20am Apr 17, 2016 7:20am
Quoting kinspk
{quote} Haha Bro, this is not an idea. I enforce it on my student and myself. I always treat the money I trade as if it's someone else money. Do you think someone who entrust you with his hard earn money will like to see you lose so much a day? So tell yourself, you are a trader working for "Sagor", Sagor is your boss, he want proper risk management, he doesn't want you to lose his money, he is happy with 10% a year. So just follow this rule first. If you break his rule, Sagor will put his money elsewhere.
That is the best definition of money management I have ever seen posted!! Most people quote hedge fund gurus, (I guess?) talking about 1% or 2%. Sure, if you have $10M that seems reasonable. But, if you have $5000, that is ridiculous. 1% of $5000 is $50. You would open 1 micro lot because someone said something that someone else told them from someone else who has no idea? Sorry, had to go a little off topic to show the comparison in advice. You are probably self-employed, meaning you have no boss and no employees. Your primary work process is to trade. You must motivate yourself to wake up, pull the trigger, and operate the business. Sometimes you have to think like a boss, other times like an employee. When you are not doing your primary task, who notices and advises you? YOU! What would you say to a person working for you, if they did what you did? You have to say that to yourself. Self-management. By thinking of yourself first, as a third party, your risk analysis "should" be better. You would not let your employee gamble away your money, so don't do it to yourself either. Great post!!
You cannot be extraordinary by being normal
  • #89
  • Apr 17, 2016 7:37am Apr 17, 2016 7:37am
Forex is not easy, but not impossible. Wright Brothers have succeeded to make human being to fly. Forex is not as difficult as making humans to fly. Our failure stems from the fact that we want to make it so quickly. Not so. All of us at FF are able to communicate with one language - english. When we were young and trying to put letters together to form words was not easy. But today we're here. We just need to start from scratch. Some jump into forex without knowing the basics. Also trading short time frames create headache. One is more relax trading longer time frames - daily, weekly & monthly candles. Monthly and weekly give you the overall direction of price movement; then look for entry point on daily. You don't need baby sit your positions. Any problem trading longer time let my know so I can share
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -5.8%
  • #90
  • Apr 17, 2016 7:46am Apr 17, 2016 7:46am
Quoting dkrock
Yeah, it sucks. I would advise to be careful about complaining though. Look for anything positive to use for your next trade. Three of the four items you listed refer to mental issues. It is not uncommon for a trader to realize he/she has issues to overcome. Trading makes a lot of people question their inner demons. I had to do the same thing. I am very intelligent and could/can create masterpieces of trading templates, but when I switched from a game of chess to a game of betting, circuits flipped in my mind that I didn't even know I had. I studied...
GUYS BE AWARE FROM HUNTING YOUR STOP LOSSES BY YOUR BROKER & BY "GHOSTS"
  • #91
  • Apr 17, 2016 7:58am Apr 17, 2016 7:58am
Quoting dkrock
My advice might seem weird, maybe even fantasy, like the force. But I believe it has made me different. My first introduction to self-improvement that gave me results was Think and Grow Rich. I started reading it in 2002, and have read it more than once and even bought the audio book and listened to it over and over as I drove. I tried it on several different projects and it was freaky to see how things just came to me from out of nowhere. In more recent years, I realized that projects are one thing, but I was having issues with making large amounts...


deleting the blocks of trading fear inside your mentality and in your life will help you to understand the trading directions as our friend did.
GUYS BE AWARE FROM HUNTING YOUR STOP LOSSES BY YOUR BROKER & BY "GHOSTS"
  • #92
  • Apr 17, 2016 8:47am Apr 17, 2016 8:47am
Quoting Samer1970
{quote} deleting the blocks of trading fear inside your mentality and in your life will help you to understand the trading directions as our friend did.
True talk
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -5.8%
  • #93
  • Apr 17, 2016 10:03am Apr 17, 2016 10:03am
Quoting Mingary
I do hope that some individual results are better than others; statistically there will be some. How about this assumption then: I am looking at the total aggregate of all fx retail accounts. In all its history there has never been a winning period for all aggregated spot retail forex accounts! (i.e the sum of all accounts)

If you were to invest 1 penny in each forex account world wide, your return on your investment will be negative.
Quoting Mingary
Let's assume it's 1930 and retail forex exists at that time:
You invest 100 dollar in IBM and 100 dollar in the forex "aggregate accounts"
2016 - you are now a millionaire thanks to your IBM investment. Your 100 dollar forex investment is long long gone.
Well Mingary, thats quite an indictment if true and it really shouldn't be surprising to anyone.

Forex is a magnet for unsophisticated traders. Selecting markets to trade and planning the amount of exposure to undertake for each sector beforehand is an important part of the process. If you came to trade the forex market alone solely because of the offer of high leverage and the ability to trade with miniscule funding then im afraid you're already on the wrong foot.
  • #94
  • Apr 17, 2016 10:24am Apr 17, 2016 10:24am
Quoting Atokys
{quote} {quote} Well Mingary, thats quite an indictment if true and it really shouldn't be surprising to anyone. Forex is a magnet for unsophisticated traders. Selecting markets to trade and planning the amount of exposure to undertake for each sector beforehand is an important part of the process. If you came to trade the forex market alone solely because of the offer of high leverage and the ability to trade with miniscule funding then im afraid you're already on the wrong foot.
http://www.goforexstrategies.com/coin-flip/
The Trend Is Your Friend
  • #95
  • Apr 17, 2016 10:30am Apr 17, 2016 10:30am
Quoting Soyo24
{quote} http://www.goforexstrategies.com/coin-flip/
What Mingary is suggesting is that the average Forex trader has an expectancy that is much worse than a 50/50 coin flip.
  • #96
  • Apr 17, 2016 12:06pm Apr 17, 2016 12:06pm
If it happens that you cannot achieve it, you will spent the rest of your life asking whether its possible or not, and trying to prove a point against other nicknames., and of course searching for the excuse of your failure. It is a matter of choice..but not only choice.
  • #97
  • Apr 17, 2016 1:53pm Apr 17, 2016 1:53pm
I believe many traders Trade for the dopamine and endrophan rush, rather then having a good signal.

The market is not your drug dealer! Follow your system and setups.

Some traders want to lose.. and market give them what they want!
The only system that will work is one designed by and for yourself.
  • #98
  • Apr 17, 2016 8:56pm Apr 17, 2016 8:56pm
Quoting sagor482
i've lost again 😭😭😭.. how many time did I have to lose to be a gainer. every time I lose and control myself not to be greedy but its too hard. reason of my lose : 1.emotion 2.not following mony management 3.over confidence 4.stupidity
hi can i just ask you a basic question.
how long can you stay in profit with demo account?
if you never even traded on demo before than stop trading live.

If you can't control yourself don't ever trade again
  • #99
  • Apr 17, 2016 11:53pm Apr 17, 2016 11:53pm
Quoting TwFXtrader
{quote} hi can i just ask you a basic question. how long can you stay in profit with demo account? if you never even traded on demo before than stop trading live. If you can't control yourself don't ever trade again
brother ive done enough on demo and who said you that i cannot control myself?
ive said control myself is hard . thats why i just lose and now i am trying to resolve my mistakes....
  • #100
  • Apr 17, 2016 11:59pm Apr 17, 2016 11:59pm
Quoting sagor482
{quote} brother ive done enough on demo and who said you that i cannot control myself? ive said control myself is hard . thats why i just lose and now i am trying to resolve my mistakes....
Okay just keep in mind that why you enter the trade.
is it based on your strategy or your emotion.
make it really clear
if is the strategy then you might have to fix it if your account is going down.
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