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A Cry for help

  • #21
  • Nov 5, 2023 6:27pm Nov 5, 2023 6:27pm
-drop every thing you think you know , start from scratch, demo first, go for 1-2% gain/day, limit loss to 5% ,
just like prop firms
-if on loosing streak drop trading for that day
-never trade against the trend
-good chance of making 1% is to trade at the beginning of the trend
-self control is must !
good luck !
  • #22
  • Nov 7, 2023 10:16am Nov 7, 2023 10:16am
Give up, its not for you, this might sound harsh but true, if you not marginally profitable after 5 years its time to throw in the towel
  • #23
  • Nov 8, 2023 6:25pm Nov 8, 2023 6:25pm
Just a note re: mentoring, training, etc. It's never been easier to get a lot of current educational content on trading than it is today. One good place to look is tastylive:
https://www.tastylive.com/. Tasty is all about options trading with a healthy dose of content about futures trading. Content added throughout the day. They aren't selling anything, but the entire tastylive channel is there in support of the tastytrade brokerage, where you can trade options, futures, forex, crypto, stocks, etc.

There's years worth of content on there, so you can find almost any level of instruction, follow along with live traders, etc.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #24
  • Edited 3:41am Nov 11, 2023 12:17am | Edited 3:41am
Quoting pipslover27
I've been trading since 2018 and never been profitable for more than a week, at this moment am at the lowest point of my life with thousands of debt , my sick mother am supporting my salary is not enough anymore am trying to cling to the last hope i have witch is trading.. This is me asking anybody who would care to help me and orient me to where find something that really works, a lot of information out there and an just lost, am not looking to get rich quick i just want to earn enough to survive and pay my debt
Need to find a steady income to help the basics livings first. Trading is a marathon not a 100 meter sprint. I personally had to work for a small company for most of my young adulthood, 15 years, from 9-5 with some over time. I came home finish dinner than do the London opening around 12 am and then take a short nap and wake up for NY opening at 5:00 am. Why would I do that? Simply put, I had a dream but no one would understand or support emotionally or financially, family or friends. But it had to be done one way or another or I will stuck with the 9-5 for the rest of my life. It's a choice I had to make.
If u luv happiness, start w/ discomfort, make friends w/ pain and failure.
100 Hits 0 Miss All Time Return: 35.8%
  • #25
  • Nov 13, 2023 5:20pm Nov 13, 2023 5:20pm
Quoting pipslover27
I've been trading since 2018 and never been profitable for more than a week, at this moment am at the lowest point of my life with thousands of debt , my sick mother am supporting my salary is not enough anymore am trying to cling to the last hope i have witch is trading.. This is me asking anybody who would care to help me and orient me to where find something that really works, a lot of information out there and an just lost, am not looking to get rich quick i just want to earn enough to survive and pay my debt
Sent you DM pal
  • #26
  • Nov 13, 2023 7:12pm Nov 13, 2023 7:12pm
its total stupid to trade when you dont have money for this.

just take a normal job, you will earn many 100% more money with a normal job then with trading when you dont have money to invest.

thats the basic rule : start trading when you earn more in your job to have enough money on the bank left (so the wins you will make are worth the invested time - if you make more per hour in job against trading, then really why not cut trading and take an other job for trading time compensating and earn more in same time), or you trade your big money win in job against less money wins in trading, what is stupid by any definition. learn trading in your spare time! or best take an other job (maybe as security where you monitor screens or whatever what is possible to read next to it from time to time, and learn so same time like work.

but first thing you should do (like anyone here told you): stop trading when you dont have money (then a job income is impossible to beat by trading). always think logic!
  • #27
  • Nov 13, 2023 7:17pm Nov 13, 2023 7:17pm
Quoting FXSayWhat
{quote} Need to find a steady income to help the basics livings first. Trading is a marathon not a 100 meter sprint. I personally had to work for a small company for most of my young adulthood, 15 years, from 9-5 with some over time. I came home finish dinner than do the London opening around 12 am and then take a short nap and wake up for NY opening at 5:00 am. Why would I do that? Simply put, I had a dream but no one would understand or support emotionally or financially, family or friends. But it had to be done one way or another or I will stuck...
did you succeed by this on the end or still same job and trading combination?
london opening should have change a lot since last 15 years, was crazy times in old years.
  • #28
  • Nov 14, 2023 12:52pm Nov 14, 2023 12:52pm
Quoting Trader191
{quote} did you succeed by this on the end or still same job and trading combination? london opening should have change a lot since last 15 years, was crazy times in old years.
to be honest it really made you think when the reality would ask you to give up a lot to stay home and make a living just doing trade. All the company benefits, paid vacation, insurance, and retirement. they all gotta go. But everyone is different. Same question we ask ourselves again when get married, and then again when the kids are here.
If u luv happiness, start w/ discomfort, make friends w/ pain and failure.
100 Hits 0 Miss All Time Return: 35.8%
  • #29
  • Nov 14, 2023 1:07pm Nov 14, 2023 1:07pm
Quoting FXSayWhat
{quote} to be honest it really made you think when the reality would ask you to give up a lot to stay home and make a living just doing trade. All the company benefits, paid vacation, insurance, and retirement. they all gotta go. But everyone is different. Same question we ask ourselves again when get married, and then again when the kids are here.
so true.
depends total on your personal preferences. for some people its even the best kind to live, for example Asperger ...

but yes, as trader we need to earn 3 times more money at minimum against the sure income as employee to make it up for the risk, no payed vaccation, no payed illness, ne payed part of healthcare or retirement later, no bonus or Christmas money or car bonus of job and so on.
  • #30
  • Nov 14, 2023 1:42pm Nov 14, 2023 1:42pm
Quoting Trader191
{quote} so true. depends total on your personal preferences. for some people its even the best kind to live, for example Asperger ... but yes, as trader we need to earn 3 times more money at minimum against the sure income as employee to make it up for the risk, no payed vaccation, no payed illness, ne payed part of healthcare or retirement later, no bonus or Christmas money or car bonus of job and so on.
In my time, Steve Jobs was the biggest promoter of "never stop pursuing your dream and passion" especially during the time the first generation iPhone came out, while in reality Apple was NOT created based on the same foundation. NOT AT ALL or the opposite. It's those who loved their job and mastered their job, whatever the job is who turned out to be much happier human beings and much better pay. How many people were misled by the kind like Steve Jobs, partner, teacher, or mentor? Probably, A LOT, sadly.
If u luv happiness, start w/ discomfort, make friends w/ pain and failure.
100 Hits 0 Miss All Time Return: 35.8%
  • #31
  • Nov 14, 2023 1:48pm Nov 14, 2023 1:48pm
Quoting FXSayWhat
{quote} In my time, Steve Jobs was the biggest promoter of "never stop pursuing your dream and passion" especially during the time the first generation iPhone came out, while in reality Apple was NOT created based on the same foundation. NOT AT ALL or the opposite. It's those who loved their job and mastered their job, whatever the job is who turned out to be much happier human beings and much better pay. How many people were misled by the kind like Steve Jobs, partner, teacher, or mentor? Probably, A LOT, sadly.
always like this. winner write stories. if they are true or not , people dont care about on the end. same for war.

steve jobs even did not want an app store (and needed a long time to convince him by lot of people to dont do this mistake), what did make minimum 50 % of the iphone success story.
thats why a team is so important, you will never have all the smart ideas and often even do mistakes and need people to stop this.
  • #32
  • Nov 14, 2023 11:15pm Nov 14, 2023 11:15pm
I'm really sorry to hear about the challenges you're facing. In your situation, it's crucial to focus on solidifying your foundational trading skills. Consider revisiting the basics of trading, ensuring you have a strong grasp of risk management and strategy development.

Also you can check this on how to be a consistently profitable traders:

https://insights.primecodex.com/achi...t-consistency/
  • #33
  • Nov 15, 2023 1:22am Nov 15, 2023 1:22am
Quoting Trader191
{quote} always like this. winner write stories. if they are true or not , people dont care about on the end. same for war. steve jobs even did not want an app store (and needed a long time to convince him by lot of people to dont do this mistake), what did make minimum 50 % of the iphone success story. thats why a team is so important, you will never have all the smart ideas and often even do mistakes and need people to stop this.
At the end of the day I say fuck what everyone else is saying. I just lay my bricks as perfect as it can be, Then I will build that fucking wall. Yesterday is past. Now and tomorrow is what matters. Take the risk, make decision, trust yourself try the best and fall forwarded. Result will show. If it doesn’t, I aren’t doing it right, duh. Try harder.
If u luv happiness, start w/ discomfort, make friends w/ pain and failure.
100 Hits 0 Miss All Time Return: 35.8%
  • #34
  • Nov 25, 2023 8:55am Nov 25, 2023 8:55am
Yeah. I have to agree with other forum members. You shouldn’t consider trading as your last resort. It's a bad formula if you want to become a profitable trader.
The reason is quite simple, it’s trading psychology. You simply cannot trade confidently enough if you know that you put all your money at stake.
And you want to be calm and collected, it’s the main ingredient for success in this sphere.
So listen to the fellow-traders and give up. We all wish the very best for you.
Stay strong!
  • #35
  • Nov 25, 2023 9:13am Nov 25, 2023 9:13am
Oh, man... I am deeply saddened by your story and the only thing I can advise you - try different strategies.
I can relate you are desperate now because of this situation, but I urge you don't rush for the money opening dozens of deals daily with huge leverage. It's better to make 3-5 deals, but quality ones. Don't risk more than 1% of margin to resist potential drawdowns.
Try time-proven combinations of Moving Averages/RSI/Bollinger Bands and watch for volumes. Don't forget about fundamental data, too.
  • #36
  • Nov 25, 2023 12:24pm Nov 25, 2023 12:24pm
Quoting pipslover27
at the lowest point of my life with thousands of debt ... trying to cling to the last hope i have witch is trading ... just want to earn enough to survive and pay my debt
How do you envision this working out?

You need 3X to 5X your annual expenses in working capital, with a good strategy, and the psychological discipline to adhere to that strategy, at a minimum to solve your income problem with capital markets.

So like, if your bills are $1000/mo, you need $36-60k in cash.

If you have that money, you don't really have a debt problem.

If you don't have that money, you need to find some other solution to your problems.

If you really have no other options, consider bankruptcy. It is infinitely better than suicide.
  • #37
  • Nov 26, 2023 12:18pm Nov 26, 2023 12:18pm
If it makes you feel any better
Official percentage of clients losing money: https://www.forexfactory.com/thread/...ney-eu-brokers
Forex isn't easy. Definitely not a last resort.
  • #38
  • Dec 3, 2023 10:43am Dec 3, 2023 10:43am
Quoting hillym43gma
Hi Mate, My advice would be look for quality mentoring and education. Will make the world of difference. I have personally found this to be very helpful. Stay away from Youtube and anybody that is promising luxury cars as they are typically making money from their courses and not trading. The best mentors are about trading and helping you succeed and that's it. Happy to share some good reputable training/mentors with you, just let me know. Mark.
Hallo Mark, I would love to get some support from a reputable trainer or mentor. I was writing a private msg but I see you have restricted that function.... is there anyway to get in direct contact? Thanks a lot! Puma
  • #39
  • Dec 4, 2023 5:51am Dec 4, 2023 5:51am
treat trading like a hobby, enjoy it, learn, and most importantly lower your expectations - not everyone can become a multimillionaire from trading.
  • #40
  • Jan 12, 2024 7:09pm Jan 12, 2024 7:09pm
Quoting pipslover27
I've been trading since 2018 and never been profitable for more than a week, at this moment am at the lowest point of my life with thousands of debt , my sick mother am supporting my salary is not enough anymore am trying to cling to the last hope i have witch is trading.. This is me asking anybody who would care to help me and orient me to where find something that really works, a lot of information out there and an just lost, am not looking to get rich quick i just want to earn enough to survive and pay my debt

I saw a lot of People here try to give you trading advice. Talking about trade management or trading skills or even talking about
how Steve Jobs never gave up.
This wont Change your Situation, the hard reality is, putting more Time and Energy into trading doesnt have equal positive results.

Trading is not the most effective and most efficient step for you if you have dept and a salery that barely covers expenses.
What capital are you gonna growh? Whats the point of making 5%-10% (100$-200$) on 2.000$ capital in your Situation?
Focus on getting into a stable finacial Situation first. How can you lower expenses, how can you earn more or applying for better jobs on the side and only then you can Start to think about trading.

If you just want to earn enough to Survive and pay your depts like you mentioned then dont focus on trading, becouse you are not in a Position to risk money, if you truely cant afford to lose it.
If you know you arent Consitent like you mentioned that dont trade live, whats the point?
Train, plan and build your Base of knowledge and experience but your priority should be getting into a stable finacial Situation, not trading.
1k to 100k Copy Trading All Time Return: 367.9%
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