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Attachments: LOST 7K$ in one week, help!
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LOST 7K$ in one week, help!

  • #21
  • Dec 17, 2007 10:34am Dec 17, 2007 10:34am
Quoting melpheos

I known that sounds like "hey come'on i want to make big money, show me the real thing" but this is the real thing...
That's right. He just experienced a big money move. Sometimes they go that way too. Shazzam! That 's why good trading is boring.
  • #22
  • Dec 17, 2007 10:46am Dec 17, 2007 10:46am
Quoting Tiki Trader
I have studied day and night for more than three years... !!! Still failed to get my degree !!!
Oh Tiki, 3 years, I only started 3 months ago, and traded with real money already, make me studdy better
  • #23
  • Dec 17, 2007 10:53am Dec 17, 2007 10:53am
Quoting Money Trader
Only has started to trade one week ago and already in a minus for 7000 dollars, could not enter 2 times into trade in time, and then tried to hold "minus positions" until then when they will go to a underside. Both time has not kept, lost everything, though after that they really went back, could make a big profit, and the big minus has turned out. (sorry for my english)
I am sorry this happened to you. It does happen to everybody. It is tough I know. Try $1000 and trade micro lots until you are comfortable. My friend put $1000 in 2006 when Katrina hit USA and doubled his account in one day. He was very excited. By the end of September he lost it all. Best thing is trade 4hours or longer and don't watch what it does during the 4 hours. I have never seen anything like Forex before. I think it tries to trick us to get out early or take a smaller loss instead of letting our original stop stick. Most of the time if you are "mostly" sure you are right and have proper stop, by the end of the 4hrs it is going your way. Hang in there pal.
  • #24
  • Dec 17, 2007 4:36pm Dec 17, 2007 4:36pm
  •  TrevA
  • | Joined Oct 2007 | Status: my brain has a mind of its own | 166 Posts
This is unfortunate and I feel your pain but you have learned a valuable lesson early.

It takes balls to jump in like you did so leverage your experience, listen to the fine advice being given in this thread by highly experienced and knowledgeable traders.

I would like to make a few suggestions:
* Learn money management principles... There are many models on this site for you to try and adopt. Find one that suits you and use it with every trade.
* There is no forex crystal ball that will tell you the future but you can learn some basic concepts early. Try and learn about support/resistance, price action and trend lines.

I could say much more but this is enough for now. Good luck and keep going. The 5% that win in this game do so through perseverance.

TrevA
  • #25
  • Dec 17, 2007 7:54pm Dec 17, 2007 7:54pm
Quoting TrevA
This is unfortunate and I feel your pain but you have learned a valuable lesson early.

It takes balls to jump in like you did so leverage your experience, listen to the fine advice being given in this thread by highly experienced and knowledgeable traders.

I would like to make a few suggestions:
* Learn money management principles... There are many models on this site for you to try and adopt. Find one that suits you and use it with every trade.
* There is no forex crystal ball that will tell you the future but you can learn some basic concepts early. Try and learn about support/resistance, price action and trend lines.

I could say much more but this is enough for now. Good luck and keep going. The 5% that win in this game do so through perseverance.

TrevA

Could you help me to find information about support/resistance, price action and trend lines, please )) I cant understand how to examine graffs...all this lines..
  • #26
  • Dec 17, 2007 8:03pm Dec 17, 2007 8:03pm
MoneyTrader

Try the forex course at babypips.com. It's an excellent course and it's free.
  • #27
  • Dec 17, 2007 8:12pm Dec 17, 2007 8:12pm
I don't know if it has been said yet but

QUIT WHILE YOU ARE AHEAD.
  • #28
  • Dec 18, 2007 6:16am Dec 18, 2007 6:16am
  •  TrevA
  • | Joined Oct 2007 | Status: my brain has a mind of its own | 166 Posts
Quoting Money Trader
Could you help me to find information about support/resistance, price action and trend lines, please )) I cant understand how to examine graffs...all this lines..
As mentioned by another very experienced trader on this thread, goto http://www.babypips.com/school/ and do the course.

I'm happy to answer any of your questions but ONLY after you have done the course.

Also, just about every angle of forex has been discussed in detail in this forum. Use the search function to find the discussions.

Good luck!
TrevA
  • #29
  • Dec 18, 2007 7:02am Dec 18, 2007 7:02am
Quoting Money Trader
Only has started to trade one week ago and already in a minus for 7000 dollars, could not enter 2 times into trade in time, and then tried to hold "minus positions" until then when they will go to a underside. Both time has not kept, lost everything, though after that they really went back, could make a big profit, and the big minus has turned out. (sorry for my english)
do not lose hope or confidence...........go see 'jacko's house of pain and pleasure' thread at journal factory folder.

with his method you can recover your losses and get profit as well especially with eur/usd falling. ask the experts there to advise you when to buy and it'll go back up big time.

losses are limited by his method too. i was in similar situation as you months ago and this method inspired me to recover all losses and profit too.

don't give up !
  • #30
  • Dec 18, 2007 7:22am Dec 18, 2007 7:22am
Before you give up Forex, you need to find out why 90% forex traders lose their money.

90% thinks and do the same way.
Trainee at UBS Investment Banking
  • #31
  • Dec 19, 2007 5:32pm Dec 19, 2007 5:32pm
i spent a good 4 months just reading even before i opened a demo account. Then i spent about a month on demo then I went live.

You really need to do your homework and research. Treat it as a real business and you must find your edge to profit. You know they say over 90% of traders quit..I think that's true for new businesses too. They close down after few years.
  • #32
  • Dec 19, 2007 5:59pm Dec 19, 2007 5:59pm
That's actually quite good!

When I first started out, I lost 10k in 30seconds!

Keep trying, never give up.
If you are still here in 5 years, send me a pm.

Coder
  • #33
  • Dec 19, 2007 7:24pm Dec 19, 2007 7:24pm
Are people really this dumb? Just because a commercial says you can make tons of money in forex doesn't mean you should dump in 7K then stick your finger up to get the direction of the wind and place a trade. No system, no strategy, no trading plan, no MM. Don't mean to sound negative but you deserve to loose, go read some books, spend some time on this forum, and demo trade for a while then try trading for real.
  • #34
  • Dec 20, 2007 4:48am Dec 20, 2007 4:48am
I thought I'd seen it all.
  • #35
  • Dec 20, 2007 8:26am Dec 20, 2007 8:26am
Quoting Tiki Trader
I have studied day and night for more than three years... !!! Still failed to get my degree !!!
Damn.. and still a noob

Some people can do it in 1 year.
  • #36
  • Dec 20, 2007 5:00pm Dec 20, 2007 5:00pm
Quoting endroute
Are people really this dumb? Just because a commercial says you can make tons of money in forex doesn't mean you should dump in 7K then stick your finger up to get the direction of the wind and place a trade. No system, no strategy, no trading plan, no MM. Don't mean to sound negative but you deserve to loose, go read some books, spend some time on this forum, and demo trade for a while then try trading for real.
I totally agree. How can anyone be so damn dumb to believe that you can open an account without any experience and make money right away. It's ridiculous!
  • #37
  • Dec 25, 2007 2:00pm Dec 25, 2007 2:00pm
Quoting WTB
I totally agree. How can anyone be so damn dumb to believe that you can open an account without any experience and make money right away. It's ridiculous!

I made this post not to ask you about my IQ level, but to ask you to help me. So if you don't like something and do not want to help me, than fuck off.
I shall not suffer the abuse, only because I have made a mistake, especially not with yours but with MY money!!!
  • #38
  • Dec 25, 2007 4:49pm Dec 25, 2007 4:49pm
Quoting Money Trader
I made this post not to ask you about my IQ level, but to ask you to help me. So if you don't like something and do not want to help me, than f--- off.
I shall not suffer the abuse, only because I have made a mistake, especially not with yours but with MY money!!!
That'll get you loads of help.
  • #39
  • Dec 26, 2007 5:51am Dec 26, 2007 5:51am
Quoting Money Trader
I made this post not to ask you about my IQ level, but to ask you to help me. So if you don't like something and do not want to help me, than fuck off.
I shall not suffer the abuse, only because I have made a mistake, especially not with yours but with MY money!!!

no need to get so worked up, brudder..............

i know how it feels to lose money.........anyway, you'll get comments like that in any forum...........maybe you'll be making those comments when you become an expert........

anyway, the thing now is to concentrate on how you can regain your losses......and you'll need the help of people here..........the people here are shockingly open and helpful........

i've been to some other forums where the experts keep trying to talk down newbies and discourage them and they will not let out any of their success formula........
  • #40
  • Dec 26, 2007 2:51pm Dec 26, 2007 2:51pm
Quoting findcount
no need to get so worked up, brudder..............

i know how it feels to lose money.........anyway, you'll get comments like that in any forum...........maybe you'll be making those comments when you become an expert........

anyway, the thing now is to concentrate on how you can regain your losses......and you'll need the help of people here..........the people here are shockingly open and helpful........

i've been to some other forums where the experts keep trying to talk down newbies and discourage them and they will not let out any of their success formula........
man, I'm not rude at all, but if people keep telling me that I'm dumb, it is making me crazy! I know that I've made a big mistake, if I didn't understand this then I would not be here, so that's why I'm reacting like that. I KNOW THAT I MADE A BIG MISTAKE, I WANT YOU TO HELP ME, SOME PEOPLE ALREADY DO, BUT I DO NOT WANT TO HEAR FROM YOU SUCH WORDS LIKE "DUMB", "STUPID" ETC.... PLEASE.
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