I plan to quit forex! | Page 70 | Forex Factory

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I plan to quit forex!

  • #1,381
  • Jun 26, 2019 1:49am Jun 26, 2019 1:49am
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!
  • #1,382
  • Jun 26, 2019 12:49pm Jun 26, 2019 12:49pm
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.
  • #1,383
  • Jun 28, 2019 10:10am Jun 28, 2019 10:10am
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!
  • #1,384
  • Jun 28, 2019 11:16am Jun 28, 2019 11:16am
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.
  • #1,385
  • Jun 28, 2019 2:27pm Jun 28, 2019 2:27pm
I am still a beginner myself.
I don't know how to give up. Is quitting considered as "gibing up"?
  • #1,386
  • Jun 28, 2019 11:54pm Jun 28, 2019 11:54pm
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!
  • #1,387
  • Jun 29, 2019 2:26am Jun 29, 2019 2:26am
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.
  • #1,388
  • Jun 29, 2019 5:01am Jun 29, 2019 5:01am
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.
  • #1,389
  • Jun 29, 2019 12:52pm Jun 29, 2019 12:52pm
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.
  • #1,390
  • Jul 14, 2019 5:18am Jul 14, 2019 5:18am
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.
  • #1,391
  • Jul 15, 2019 8:07pm Jul 15, 2019 8:07pm
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.
  • #1,392
  • Jul 16, 2019 7:11am Jul 16, 2019 7:11am
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.
  • #1,393
  • Jul 16, 2019 12:51pm Jul 16, 2019 12:51pm
The original poster hasn't been around in a long time, he has probably decided to quit trading indeed.
  • #1,394
  • Jul 23, 2019 7:19am Jul 23, 2019 7:19am
I quit. Or so i thought. Here I am again.
Monkey See, Monkey Do
  • #1,395
  • Jul 23, 2019 7:37am Jul 23, 2019 7:37am
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!
  • #1,396
  • Jul 23, 2019 10:19am Jul 23, 2019 10:19am
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!
  • #1,397
  • Jul 24, 2019 8:41am Jul 24, 2019 8:41am
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
  • #1,398
  • Jul 27, 2019 11:52am Jul 27, 2019 11:52am
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?
  • #1,399
  • Jul 28, 2019 4:27am Jul 28, 2019 4:27am
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!
  • #1,400
  • Jul 29, 2019 3:46am Jul 29, 2019 3:46am
Quoting mlawson71
{quote} For how long have you been trading now?
around 10 years on and off. this is probably the first take that i'll do it full time. no other stuff. no distractions. FX to me was something I did with a backup. let's see how going full time goes.
Monkey See, Monkey Do
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