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Help! What is the actual holy grail in forex? I'm tired of losing 89 replies

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Tired of losing money in forex

  • #81
  • Jul 3, 2008 12:07pm Jul 3, 2008 12:07pm
Quoting ingridk
about 5 months ago..and i still cant make any profit.
Not mean to be harsh, but if you want to see profit in just 5 months, you really should consider open up a store or other regular business. I agree with mp777, forex trading is like learning to be a brain surgeon. Give it time.
  • #82
  • Jul 3, 2008 12:17pm Jul 3, 2008 12:17pm
Quoting ingridk
about 5 months ago..and i still cant make any profit.

The correct advice is to find a mentor that is successful trading the forex. By using his trading methods and thinking like that teacher, you will learn how to be a successful forex trader.

Also, take advice from people making live trades here.
"To Be A Successful Forex Trader, You Need A Successful Forex Mentor."
  • #83
  • Jul 3, 2008 1:12pm Jul 3, 2008 1:12pm
Every experiance forextrader says almost same things.
Use simple system, understand Mental aspect and use money management..

And during learning phase...... new trader alway's bypass this...untill market teach him with account blow.

I done same..when i was new .....read post from experiance trader...i did not understood importance of that..then market teach me with cost.

Now i teach other what i learn..and see new trader do same mistake....i keep telling..and process is on..........

Now i just keep reading post..and
  • #84
  • Jul 3, 2008 1:57pm Jul 3, 2008 1:57pm
When I talk to people on the phone, these are the most common problems for traders:

1) They really have no system.
2) They trade and practice a system, then they go live and its like they completely forgot that they had a system.
3) They WAY over trade their account.


I can't answer for you as to a working strategy. I have one I use for my private account that seems to work, but it's a short-grab strategy. A lot of people talk small, then they get on, and after 1-2 small trades, they grab a tiny bit of pips and make a small profit, but they see that their small grab was part of a larger move. Human nature gets the better of them and they're stricken with greed. Thus, the very next trade, they go for that home run, and when they don't make it, that begins a downward spiral of "I've got to make up for that last trade" - crash - crash - crash.

There's an analogy I've used before - you can win a baseball game with a home run, but you can also win a game with singles. If you can't find that home run in the market, you can still likely find little grabs here and there (and no, I don't mean on news announcements). Follow a small scale system, get good at that, THEN look to larger grabs with careful stop protection.

There's no surefire way for traders to win, but there are things to do to make sure you're not getting killed. I hope that helps somewhat.
  • #85
  • Jul 3, 2008 2:16pm Jul 3, 2008 2:16pm
Well, I was in the same boat when I just started trading and I think that feelings are very common to new traders.
You have had some good advices; I clap my hands to BillyRay #15 and birdt #33.
When I was at that point I took some vacations, without any Forex, to clean my head and start from the very beginning and studying books and videos from recommended Forex Experts. I cleaned al my chart setup and stayed only with two indicators that I really trusted and that supported my reason where to enter my trades. The rest is just discipline, technical analyze and money management that is very important to learn. Most mistakes that I made was going in a position without being sure and not waiting long enough to make it a winner.
You got many helping hands here, it’s by you to take what you think it is the best for you.
Hope you stay and be a good trader.
  • #86
  • Jul 3, 2008 2:23pm Jul 3, 2008 2:23pm
The reason why 95% of retail traders lose money is:
- They hear about forex on the internet
- They open an account
- They get raped
- They start looking for THE ULTIMATE SYSTEM!!!1eleven
- They belive they can outsmart the market with some system they bought on eBay.
- They get fucked up again.
- They quit.

Most people are why to impatient when it comes to forex.
They want to make millions on day 2 after they opened their accounts.
It has taken me over a year (reading and learning 4-5 hours a day) to really figure out what it takes to be a good trader. The average noobie want that AHA Moment after 2 weeks.
People are way too spoiled with shit they read on the internet which blocks their minds. They should take a chart and sit under a tree for 1 month meditating.
  • #87
  • Jul 5, 2008 8:47am Jul 5, 2008 8:47am
Quoting ramdas
Just register in my private forum, i will give you free access to member's area.
and see wonder. you will give me thanks 100time for this advise.
you will feel like

http://forextradingwithsma.forummotion.com/index.htm

I Created forum for traders with atlest 1.5 to 2 year's experiance in FX ...but somehow i am giving you access.
I think i am wasting time in giving helping hands. since no one is interested.
  • #88
  • Jul 5, 2008 11:41am Jul 5, 2008 11:41am
Quoting ramdas
I think i am wasting time in giving helping hands. since no one is interested.
Would you like to invite me? I'm not that new to Forex but I don't belong to any private forum, I'm just a lonely cowboy.
In case that I see that my trading strategy doesn’t enter in your forum I would leave and we all stay friends.
Thanks in advance
  • #89
  • Jul 5, 2008 1:00pm Jul 5, 2008 1:00pm
Quoting thegerman
Would you like to invite me? I'm not that new to Forex but I don't belong to any private forum, I'm just a lonely cowboy.
In case that I see that my trading strategy doesn’t enter in your forum I would leave and we all stay friends.
Thanks in advance
Dear thegerman,

Pl join forum with promise of keeping information within that forum,

I created forum for myself then extended to some friend..and then now extending to those who can become trusted friend.
I am not behind publicity of forum, i am only sharing information to those traders who are realy interested in learning very different way of reading currency movement.

Pl join forum,

Best Regards
Ramdas
  • #90
  • Jul 6, 2008 6:17am Jul 6, 2008 6:17am
[quote=ck_itrade;2090880]When I talk to people on the phone, these are the most common problems for traders:

1) They really have no system.
2) They trade and practice a system, then they go live and its like they completely forgot that they had a system.
3) They WAY over trade their account.


I agree with you. The absence of a proven system is the major cause of the problem. Even if they develop a system, due to lack of experience, they might end up losing confidence in it. That's why they need an experience hand to mentor them.

What I'm thinking of is joining a forex education site.
  • #91
  • Jul 6, 2008 6:33am Jul 6, 2008 6:33am
People are way too spoiled with shit they read on the internet which blocks their minds. They should take a chart and sit under a tree for 1 month meditating.[/quote]

The funniest thing to me in the course of searching for knowledge on forex is that the internet is full of both useful and misleading info. For instance, when I started, I bought a forex book on forex, the author advised focusing on only EUR USD and 15 minute time frame. I later realised that that was not the best 'cos sometimes, you might be in a trade and it would reverse in a twinkle of an eye.

During the cause of searching for the truth, I read an article on 50 successful habits in trading forex. The guy warned that you should chose either technical or fundamental. Using both strategies, you might get your hand burnt. I later find out that being glued to the chart without adequate knowledge of fundamental analysis was part of the cause od my death.

Now that I am getting awareness from fellows, I've realised that mere watching the chart is like reading the history. What can appreciate is a strategy that will include both fundamental and technical aspect of trading.
  • #92
  • Jul 6, 2008 6:41am Jul 6, 2008 6:41am
Always be carefull with information you get on the internet.
Especially concerning Forex Trading where there is no Wrong or Right way to trade.
  • #93
  • Jul 6, 2008 6:55am Jul 6, 2008 6:55am
Quoting kenny123
I bought a forex book on forex
I'd be worried if you bought a forex book on something other than forex.
  • #94
  • Jul 6, 2008 3:37pm Jul 6, 2008 3:37pm
Quoting mp777
Giving up because you can't make a profit after 5 months - is this for real?

If you were training to be a brain surgeon, would you expect to be performing operations after 5 months?

..........probably best not to answer.

5 months is no time at all - start worrying a bit more if you are still struggling after 5 years!!

M
Quoting Zen
Not mean to be harsh, but if you want to see profit in just 5 months, you really should consider open up a store or other regular business. I agree with mp777, forex trading is like learning to be a brain surgeon. Give it time.
Quoting CTGUY
The correct advice is to find a mentor that is successful trading the forex. By using his trading methods and thinking like that teacher, you will learn how to be a successful forex trader.

Also, take advice from people making live trades here.
thx for the advices!

Quoting ramdas
Just register in my private forum, i will give you free access to member's area.
and see wonder. you will give me thanks 100time for this advise.
you will feel like

http://forextradingwithsma.forummotion.com/index.htm

I Created forum for traders with atlest 1.5 to 2 year's experiance in FX ...but somehow i am giving you access.
thank you so much,i registered in your forum
  • #95
  • Jul 7, 2008 4:08am Jul 7, 2008 4:08am
Quoting forexmoments
I'd be worried if you bought a forex book on something other than forex.
You mean like forex book about cooking?...
  • #96
  • Jul 8, 2008 12:53pm Jul 8, 2008 12:53pm
Quoting Zen
You mean like forex book about cooking?...
Thanks very much. This shows people are really concerned about the problem of this man by reading it word for word. But we will also appreciate it if you can contribute in assisting new forex traders when they need help, as others have been giving their advise.
  • #97
  • Jul 8, 2008 7:29pm Jul 8, 2008 7:29pm
Quoting kenny123
Thanks very much. This shows people are really concerned about the problem of this man by reading it word for word. But we will also appreciate it if you can contribute in assisting new forex traders when they need help, as others have been giving their advise.
Wow, please don't get me wrong. You're too strung up in this problem that if you keep focusing all your attention to it, you'll be snap. Believe me, I know from experience. Read my post somewhere in this forum, you'll see my present condition, what I have to face right now, then you'll have different thinking.
  • #98
  • Dec 25, 2009 7:20pm Dec 25, 2009 7:20pm
...........
  • #99
  • Dec 25, 2009 9:26pm Dec 25, 2009 9:26pm
Sorry. It is a bloody, harsh, rash, ruthless, emotionless forex business.
  • #100
  • Dec 28, 2009 3:37am Dec 28, 2009 3:37am
Quoting kenny123
I've not had a mentor. I've read babypips and a lot of materials. As you know there are a lot of materials online, but I still think i need a mentor to guide me through. This will improve my confidence in any strategy I am using.
Be patient and hold on there... I agree that Babypips is a pretty good website to help you getting started. Read, plan and practice first before throwing your fortune into the market.
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