Maybe it won't happen to me ? | Forex Factory

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Maybe it won't happen to me ?

  • #1
  • First Post: Jun 8, 2007 5:46pm Jun 8, 2007 5:46pm
Final thoughts just before going to bed:
I'm 'messing with' FX trading for almost a year and a half.
There were many times I thought I made a progress and many times I thought I was absolutely lost the way.
And now... I just don't know.
U know, I read the stories in this forum by members who have "done" it and it keeps my optimistic, and I read all the suggestions and consolations and encouragements... and it does not make me even 1 step closer to I-dont-know-what..

I'm now almost 25 years old. I started my so-called journey 1.5 years ago. And yes, I can honestly say that i'm truly obsessed with trading. Who assures me that I won't wake up one day 32 years old + 2 children still trying to figure out how the hell to trade profitably ? No one.

I need no consolations nor encouragements. What I need is a strong flashlight to show me the way, because I sick and tired of walking in this darkness of uncertainty.

Yet, i'm not giving up.
Thanks for letting me share.
  • #2
  • Jun 8, 2007 9:28pm Jun 8, 2007 9:28pm
read the J16 public thread. Then if it helps you.think about joining the James16 PF. It is like a lighthouse for lost forex travelers .

Take care
Rsq955
  • #3
  • Jun 9, 2007 8:51am Jun 9, 2007 8:51am
Well, let me tell you something very important my friend. We are all walking in the dark in this business. Nobody has a clear cut light showing him the path. You have to get used to use your other senses. When walking in the dark, you usually use your ears as a substitute. This is what we all try to do.

No body will be able to show you where the light is because actually nobody knows where it is or how can you get it. Sorry for being frustrating, but it is the truth. Those who manage to become successful are those who train themselves to walk in the darkness using their ears, sometimes they hit a wall, but most of the time they avoid big rocks or dead-end-roads, and just using their ears.

I don't know how can I clarify this further, but you will have to train yourself and convince yourself that there is no and there will be no certainties in what you are doing, ever, whether you figure it out in 1.5 years or in 15 years. There is nothing in the world with a 100% certainty anyway, except death. Everything in the world has a small percentage of uncertainty but it ranges. In the financial markets, the uncertainty is the biggest I have ever seen.

Train yourself to listen to the market and then choose your way, either long, short or flat.


Thanks,

Nader
  • #4
  • Jun 9, 2007 9:34am Jun 9, 2007 9:34am
maori,

dont get me wrong, but 18 month is just not enought time to draw any conclusion...most traders i know have spend 3-5 years to get to a level where they start to get profitable
  • #5
  • Jun 9, 2007 3:33pm Jun 9, 2007 3:33pm
Quoting maor_i
Final thoughts just before going to bed:
I'm 'messing with' FX trading for almost a year and a half.
There were many times I thought I made a progress and many times I thought I was absolutely lost the way.
And now... I just don't know.
U know, I read the stories in this forum by members who have "done" it and it keeps my optimistic, and I read all the suggestions and consolations and encouragements... and it does not make me even 1 step closer to I-dont-know-what..

I'm now almost 25 years old. I started my so-called journey 1.5 years ago. And yes, I can honestly say that i'm truly obsessed with trading. Who assures me that I won't wake up one day 32 years old + 2 children still trying to figure out how the hell to trade profitably ? No one.

I need no consolations nor encouragements. What I need is a strong flashlight to show me the way, because I sick and tired of walking in this darkness of uncertainty.

Yet, i'm not giving up.
Thanks for letting me share.
Hi, i'm exactly like you, started with a demo account 2 years ago and a neuralnetwork strategy, from 25k to 150k in one month, so opened a live account and blow them off! After that i leaved the idea of neuralnetworks and started trading with my mind, creating a lot of manual strategies, and having success with them in demos, so opened live accounts, and blow, blow again, and again! Well, it's really a hard job, but never give up! It seems that there is nothing of sure, and day after day the situation is always the same, starting point. Let me know the way if you found it
I don't give up too!
  • #6
  • Sep 18, 2007 8:46am Sep 18, 2007 8:46am
Quoting tunera
Hi, i'm exactly like you, started with a demo account 2 years ago and a neuralnetwork strategy, from 25k to 150k in one month, so opened a live account and blow them off! After that i leaved the idea of neuralnetworks and started trading with my mind, creating a lot of manual strategies, and having success with them in demos, so opened live accounts, and blow, blow again, and again! Well, it's really a hard job, but never give up! It seems that there is nothing of sure, and day after day the situation is always the same, starting point. Let me know the way if you found it
I don't give up too!
What if you both are "kick-ass" traders, but the deal desks are messing with you?
  • #7
  • Sep 18, 2007 8:57am Sep 18, 2007 8:57am
Quoting maor_i
Final thoughts just before going to bed:
I'm 'messing with' FX trading for almost a year and a half.
There were many times I thought I made a progress and many times I thought I was absolutely lost the way.
And now... I just don't know.
U know, I read the stories in this forum by members who have "done" it and it keeps my optimistic, and I read all the suggestions and consolations and encouragements... and it does not make me even 1 step closer to I-dont-know-what..

I'm now almost 25 years old. I started my so-called journey 1.5 years ago. And yes, I can honestly say that i'm truly obsessed with trading. Who assures me that I won't wake up one day 32 years old + 2 children still trying to figure out how the hell to trade profitably ? No one.

I need no consolations nor encouragements. What I need is a strong flashlight to show me the way, because I sick and tired of walking in this darkness of uncertainty.

Yet, i'm not giving up.
Thanks for letting me share.
Read this post http://www.forexfactory.com/showpost...3&postcount=18
If you're really bored read all my thread, it's my journey, and there's still no real end in sight.
You have to sit down and think real hard about what you're doing. If you're still here after 18 months you've done better than most.
We all thought it was easy when we started, the ads told us it was, didn't they? But the truth, like most things in life, isn't like we see on the ads.

Anyway, hang in there, you're closer to the answer than you think!
  • #8
  • Sep 18, 2007 9:00am Sep 18, 2007 9:00am
Quoting Kingen
What if you both are "kick-ass" traders, but the deal desks are messing with you?
Read this Broker Complaints …Get over it!
  • #9
  • Sep 18, 2007 9:29am Sep 18, 2007 9:29am
Quoting narafa
Well, let me tell you something very important my friend. We are all walking in the dark in this business. Nobody has a clear cut light showing him the path. You have to get used to use your other senses. When walking in the dark, you usually use your ears as a substitute. This is what we all try to do.

No body will be able to show you where the light is because actually nobody knows where it is or how can you get it. Sorry for being frustrating, but it is the truth. Those who manage to become successful are those who train themselves to walk in the darkness using their ears, sometimes they hit a wall, but most of the time they avoid big rocks or dead-end-roads, and just using their ears.

I don't know how can I clarify this further, but you will have to train yourself and convince yourself that there is no and there will be no certainties in what you are doing, ever, whether you figure it out in 1.5 years or in 15 years. There is nothing in the world with a 100% certainty anyway, except death. Everything in the world has a small percentage of uncertainty but it ranges. In the financial markets, the uncertainty is the biggest I have ever seen.

Train yourself to listen to the market and then choose your way, either long, short or flat.


Thanks,

Nader
Well said, Nader, I couldn't have said it better.

I would add that maybe you should stay away from forums for awhile. As Nader pointed out, you are on your own. Sure, you can get lots of insight and help, but you can also get very confused and discouraged from reading this stuff as well. Don't compare yourself to others, make your own plan and measure your progress in very small increments. Celebrate your victories and examine your defeats carefully.

I thought for sure I would beat the learning curve in trading. I was wrong. I'd be willing to bet that very few do. Accept it's going to take more time.
  • #10
  • Sep 18, 2007 10:40am Sep 18, 2007 10:40am
Quoting maor_i
Final thoughts just before going to bed:
I'm 'messing with' FX trading for almost a year and a half.
There were many times I thought I made a progress and many times I thought I was absolutely lost the way.
And now... I just don't know.
U know, I read the stories in this forum by members who have "done" it and it keeps my optimistic, and I read all the suggestions and consolations and encouragements... and it does not make me even 1 step closer to I-dont-know-what..

I'm now almost 25 years old. I started my so-called journey 1.5 years ago. And yes, I can honestly say that i'm truly obsessed with trading. Who assures me that I won't wake up one day 32 years old + 2 children still trying to figure out how the hell to trade profitably ? No one.

I need no consolations nor encouragements. What I need is a strong flashlight to show me the way, because I sick and tired of walking in this darkness of uncertainty.

Yet, i'm not giving up.
Thanks for letting me share.
Could you be more specific as to what trading systems you have been using? Thanks.
Binary Options Trader
  • #11
  • Sep 18, 2007 11:20am Sep 18, 2007 11:20am
Quoting Yoda_Glenn
Could you be more specific as to what trading systems you have been using? Thanks.
I agree. Write a little more about your trading plan and what you've done during the last 1.5 years and then maybe someone will be able to help you.
"I say high, You say low, You say why, and I say I don't know..."
  • #12
  • Sep 18, 2007 11:26am Sep 18, 2007 11:26am
As many have pointed out, there is no "clear" path when it comes to trading. HOWEVER, there is indeed a turning-point (or there was at least for me) in a trader's career in which things do begin to make some sense. You still score losing trades here and there and no, you don't know why those trades turned sour, but the whole thing doesnt look so chaotic anymore from a general point of view.

One year and a half is not a lot in the trading world, but some important basic concepts should have already sunk in. Perhaps you've been looking into the wrong direction so far?

If you could explain what you've done so far, perhaps we could give a more valid feedback.
  • #13
  • Sep 19, 2007 1:11am Sep 19, 2007 1:11am
Quote
Originally Posted by maor_i
Final thoughts just before going to bed:
I'm 'messing with' FX trading for almost a year and a half.
There were many times I thought I made a progress and many times I thought I was absolutely lost the way.
And now... I just don't know.
U know, I read the stories in this forum by members who have "done" it and it keeps my optimistic, and I read all the suggestions and consolations and encouragements... and it does not make me even 1 step closer to I-dont-know-what..

I'm now almost 25 years old. I started my so-called journey 1.5 years ago. And yes, I can honestly say that i'm truly obsessed with trading. Who assures me that I won't wake up one day 32 years old + 2 children still trying to figure out how the hell to trade profitably ? No one.

I need no consolations nor encouragements. What I need is a strong flashlight to show me the way, because I sick and tired of walking in this darkness of uncertainty.

Yet, i'm not giving up.
Thanks for letting me share.

Only if I was 25 years old again and new what I know now (starting to sound like my parents).

Don't get down on yourself, just remember that everyone that designs a system does it to suit their own style or personality traits. The easiest way to develope a system is to learn a few indicators that you are drawn too and put them together and see how they respond to the way the market is moving.

Its alot like playing chess (well for me its like chess), learn what every piece does eg horse moves a certain way castle is limited to certain moves etc, just like certain indicators have boundaries and don't be scared to modify your indicators to suit you, alot of people (traders) are scared to modify indicators as they think they are sacred or something, remember when you are putting a system together you are just playing with it and then when you think you are done test it and look for the weaknesses of the system and then see what you can do to transform the weakness into strengths and normally its something simple and not something complex (remember the KISS method).

Anyhow I have to go to a meeting as a student has just arrived so hope this helps, if you have any questions just post a reply and I'll get to it asap

Cheers Go Getter
Go Getter When Trading Its All About "WHO YOU ARE BEING"
  • #14
  • Sep 19, 2007 1:31am Sep 19, 2007 1:31am
Quoting Kingen
What if you both are "kick-ass" traders, but the deal desks are messing with you?
This line of thought is the reason why we have a 95%... IOW, traders can't/won't accept their own actions.
Mr. Trend
  • #15
  • Sep 19, 2007 1:45am Sep 19, 2007 1:45am
Quoting Mr Trend
This line of thought is the reason why we have a 95%... IOW, traders can't/won't accept their own actions.
Trade what you see, not what you think.
  • #16
  • Sep 19, 2007 6:42am Sep 19, 2007 6:42am
I would like to think that I am at the start of my turning point...but what appears to be a turning point to me, has not been tested thoroughly yet. What I believe to be my turning point, and what may help other struggling traders out as well, are four things:

1. FUNDAMENTALS! FUNDAMENTALS! FUNDAMENTALS! I think most new FX traders fail so much because there are so many pure technical analysis snake-oil salesmen out there. I think people find pure technical analysis to be sexier than fundamental analysis, and this, I believe, is a problem for newbies. I'm not saying that there aren't any successful pure technical traders, but pure technical analysis is like racing a motorcycle down a highway at night....with your head light off.

2. Build your own collection of technical analysis tools, like Go Getter said. There are so many technical analysis tools, and ways of using them, that the Forex can seem truly like a maze. Put on horse blinders to what everyone else is doing, in terms of technical analysis/indicator use, and simply use what works for you. In the Forex greed is often talked about in terms of risk %, but there is also another form of greed that kills your account, the greed of running to every technical analysis cult/style in the Forex. How does the saying go? "If it aint broke, don't fix it."

3. Practice self control. When I first started trading with money, I thought that I had to be trading almost every hour, or else I was somehow missing out. NO. Build your own series of MENTAL locks in your head, which represents sub signals. These sub signals will add up to a master signal to trade. DO NOT TRADE UNLESS THESE SUB SIGNALS HAVE ALL BEEN ACTIVATED. A sub signal itself can be a bit of fundamental information, or it can be a green light from a single indicator. Make your own combination of sub signals, and stick with them, no matter what! Even if you don't trade for a week or two, because your sub-signals don't add up, then don't trade. Let go of the mindset that a successful trader HAS to be a trader who is trading frequently.

4. Remember, FX trading is a business, and like all businesses, you will have days of gain, days of no gain, and days of even loss. Obviously, over the long run, your gains must be greater than your days of no gain or loss. Going into business for yourself means that you must be able to handle the PRESSURE of uncertainty. Learn to deal with this pressure, and not make a big deal of it.

Hope this helps.
Binary Options Trader
  • #17
  • Sep 19, 2007 9:55am Sep 19, 2007 9:55am
The sub-signals concept Yoda_Glenn mentioned above is a great idea. I use this approach myself on my own trading too, but I call them pre-entry conditions. They all must be met before the green lights flash.
  • #18
  • Sep 19, 2007 9:58am Sep 19, 2007 9:58am
Quoting peter100
maori,

dont get me wrong, but 18 month is just not enought time to draw any conclusion...most traders i know have spend 3-5 years to get to a level where they start to get profitable

please tell me it's untrue..........!!!

why people still want to trade forex when it's so hard ?
  • #19
  • Sep 19, 2007 1:09pm Sep 19, 2007 1:09pm
Quoting findcount
please tell me it's untrue..........!!!

why people still want to trade forex when it's so hard ?
Lol
  • #20
  • Sep 20, 2007 4:12am Sep 20, 2007 4:12am
Quoting findcount
please tell me it's untrue..........!!!

why people still want to trade forex when it's so hard ?

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