Need help... laid off in the financial tsunami

Dear all,

I've been working in a small logistic company for nearly 10 years and been laid off recently in this financial tsunami. Trying to get a new job but seems little opennings available....

I need your help please. Have been trading live for nearly 10 months after works, tried many systems with occassional profitable trades, but still losing overall.

I managed to overcome the losing trades and see it as the necessary cost to buy chances, and managed to limit each trade's loss to little amount (usually 0.5% ~ 1% of my account, but my account = all my saving). But still I don't think i would do good in the long run bcoz on average i am losing....

Please please I really need your help or advice to get on the right track....

Thank you very much for your time and I do greatly appreciate your kind help. Hope everyone manage to get through this tsunami.

Rgds,
Danny

My advice is you should keep looking for a job. If you cannot get a job in your field try something else.

You got your life savings in your acct. Are you nuts. The pressure you put on yourself to take 'your daily bread' from the markets will kill you.

Your gonna get replies like 'you can do it, or 'use system killer pips' or similar crap. They are just that - crap. Don't be a sucker.

Keep trading part time - keep to VERY small bets, and someday maybe you can make money at this - but not at this time.

Good luck what ever you do.

Woah. That sucks. Even the suits don't have Job Security.

Perhaps Twee would consider adding a CV Forum that you could post in BUT I can't help but wonder, If you were good at your job in logistics, start crunching the FX Numbers. I am sure you will find Repetative Patterns there that may sustain you.

well, I would like to ask dannywmk in your trade, do you using indicators? if you do, then why not spend some time to on all the forex fourms. and try to look for the indicator that you think will give you most of signals.

until you feel comfortable with indicators, try it on demo first. after you feel very good with demo, that will be time to start with live.

don't worry, as I have same problem as you before. as I open an account for $500 go up to $600 and blowed $500 away.

now at less comming back slowly. as long as you are not chasing, enter until your indicators signal you it is about time to entery. then you can easy to make 20 pip or even more easy.

Thank you for your advice.

There are always love and care in this world, and I whole-heartedly bless those offering help. Wish you all have a good time ever.

Danny hang in there.

Although I've recently made my foray into the big bad world of forex, I whole heartedly agree with Mr Green, if u attempt to trade for a living now you'd put to much pressure on yourself and thats only going to complicate things further, it is best you keep looking for another job and trade part time.

Sure i will not give up finding a job coz I still have to support my old mum and dad's living.

But it's so terrifying to read the newspaper this morning that firms, especially those banks like HSBC and DBS, keep reducing head counts, and they can't guarantee there won't be further actions in the future. So sad

I really feel warm here to see ff's member showing your care to me and others. Thank you all.

Think positively

I read somewhere that in the great depression there was 25% unemployment.

ie.75% of people had a job.OK wages must have dropped but they had money coming in.(Another way of looking at it is...If you know 10 people there must be 3 you are more intelligent/have more common sense than)

mrgreen summed it up ..You will not be able to trade if you put everything on the line.

Concentrate on reducing your expenses and at the same time looking for employment.

You really should remove your savings from your trading account and put them somewhere safe for emergencies.

Perhaps you could leave a little in your account and make micro trades to establish a system,but do not think trading will be your salvation at this time.You could end up mentally exhausted and with zero account.(reading your first post I think you realise this)

In time you definitely could become a profitable trader,but only if you are positive,and bankrupting yourself now trying to trade will not help.

If you must trade,then,trade very small and ignore any PM's or e-mails suggesting instant success.

All the best

Life can be really bad sometimes.

Tough life with emotional roller coaster ride.