let to me till i have close weekly then
- #1,962
- Edited 8:54am Aug 15, 2008 8:19am | Edited 8:54am
thank you Hussin... i have been one of those terrible crazy traders...i have lost $23000 in about 3 weeks !
when i look back now at almost EVERY advice you made i would have saved that money.
the sad thing now is i'm almost on the zero figure and i'm sad that i found you and this thread recently BUT i'm happy i found you :-)
i think the 1st advice i looked at was when you said the 'hawai' trade was NZDAUD and i didn't listen because i saw the price going up and up, then the marketmaker spread was 20 pips ! so i worried i would lose everything... a few days later the move was correct you said!
i'm sure there have been many many people to have lost money recently... the emotional side of trading is absolutely unbelievable, i don't think many people have that side of trading yet, i know i have not! but i'm trying.
You are not alone... i had been winning for 3 consecutive month (40% per mth) with capital around $100 plus... Last month i increased my capital to $2000 and lost almost 70% of my capital plus 3 month profit...
I was almost fainted...
Well at least mine is not as heavy as yours... he he he...
Cheer up man... look at the bright side of life....
At least it made you found this thread (the same reason for me to found this thread too)
Let us work hard and do not let the history repeat...
Btw, anyone can suggest what is the good profit target per month for learner who have trade for abt 3-6 mth?
(not too low and not too high... on average...)
Lost...
- #1,964
- Aug 15, 2008 8:23am Aug 15, 2008 8:23am
- Joined Nov 2007 | Status: beginner | 7,828 Posts
Wow... how long does he take to turn $1800 to $5800?
I also want...
pls delet your post
i think this is better
again thanks
best regards
hussin
- #1,968
- Aug 15, 2008 8:58am Aug 15, 2008 8:58am
- Joined Nov 2007 | Status: beginner | 7,828 Posts
Mission accomplished...
Deleted as per your request...
i did the same mistake when i started trading, i traded with real money from the very first day, no miracle i lost most of it in one year 
"never ad to a loosing position" thats an important rule, dont get married to your initial opinion about the market and take your losses. you can ad on winning positions if you get another good signal
here are some thoughts i have before every trade
A) is my target bigger than my stop loss?
B) do i really feel comfortable risking 2% of my account taking that trade?
C) are there any doubts left about that trade? which?
D) do i trade with or against the trend?
E) can i get a better entry to get a better risk: reward ratio?
my biggest mistake in the past was when i had a loosing day, i tried to cover the whole losses of the day in one trade at the end of the day...absolutely silly and i would never do it again, you loose your butt doing this
"never ad to a loosing position" thats an important rule, dont get married to your initial opinion about the market and take your losses. you can ad on winning positions if you get another good signal
here are some thoughts i have before every trade
A) is my target bigger than my stop loss?
B) do i really feel comfortable risking 2% of my account taking that trade?
C) are there any doubts left about that trade? which?
D) do i trade with or against the trend?
E) can i get a better entry to get a better risk: reward ratio?
my biggest mistake in the past was when i had a loosing day, i tried to cover the whole losses of the day in one trade at the end of the day...absolutely silly and i would never do it again, you loose your butt doing this
Hi Titus
i started about 5 weeks ago and quickly moved up $4000 so got over confident.
basically, i was short USDJPY at 105.27 then i added to the short at 105.77 then again at 106.40 .... i think i just didn't want to lose! I finally admitted defeat at 108.60 on it, that was more than half my money gone
then i started on cable but i realise, i had lost all confidence to keep my position open... every time i put a stop order in place with the broker it would trigger, every single time ! then reverse to the point my profit target was
once i started chasing a 'big trade' the game was pretty much over...
i was upset when i wrote earlier... i've taken my last $1000 and put it into a micro account.... my biggest mistake i think was overtrading to begin with then confidence along with not obeying 'candlesticks'
sorry guys, i'm whining but i appreciate the interest and any comments you may all have on ways forward
should i jump ship?
- #1,977
- Aug 15, 2008 9:26am Aug 15, 2008 9:26am
i did the same mistake when i started trading, i traded with real money from the very first day, no miracle i lost most of it in one year
"never ad to a loosing position" thats an important rule, dont get married to your initial opinion about the market and take your losses. you can ad on winning positions if you get another good signal
here are some thoughts i have before every trade
A) is my target bigger than my stop loss?
B) do i really feel comfortable risking 2% of my account taking that trade?
C) are there any doubts left about that trade? which?
D) do i trade with or against the trend?
E) can i get a better entry to get a better risk: reward ratio?
my biggest mistake in the past was when i had a loosing day, i tried to cover the whole losses of the day in one trade at the end of the day...absolutely silly and i would never do it again, you loose your butt doing this
I get $100 profit out of $250 capital in 3-4 hour just to lost all the profit plus abt $200 at the end of my first day...
after that i stop for abt 2 mth before decide to study forex carefully and make the mistake AGAIN last mth...
Robert kiyosaki said every biz fail at least 3 times, hopefully i dont need the third time...
Lost...
- #1,978
- Aug 15, 2008 9:39am Aug 15, 2008 9:39am
- | Joined Jun 2008 | Status: KISS=Keep it simple and Stupid | 131 Posts
We Will Go To Hawaii In The Next Week
You and Peaches are from US??
I also like to Hawaii
G day and G trade to all friends.
I want to sleep
50pips today for short eu
Your post reminded me about my very first try on forex that i almost forgotten...
I get $100 profit out of $250 capital in 3-4 hour just to lost all the profit plus abt $200 at the end of my first day...
after that i stop for abt 2 mth before decide to study forex carefully and make the mistake AGAIN last mth...
Robert kiyosaki said every biz fail at least 3 times, hopefully i dont need the third time...
one of the hardest part in trading is "stick to your rules" ..." have patience until a clear signal appears, then act. dont act because you think its gonna do this or that" - i got stopped out today cause of that mistake
this is a great thread and hussin is very professional, we should work all together and listen to hussins candlestick observations, and learn