i'm lost.....

"OK. Eat your Carbs and finish that Power Juice. It's time to go. Practice starts in 20 minutes. Beckham Schmeckum, CRon Peon... You are the Future of Football." {soccer to the exiles}.

"But Mom, I really want to play Baseball."

With no mention of monetary reward, which do you you think the kid would be better suited to enjoy life?

In Trading, there has to be a Desire to Trade or Outwit the Other Guy. Not, just simply, Make Money.

{HipPi is probably right on my tail getting ready to post this to the members lounge.
"I'm Lost.
Bemac"}

That's cool. May get another read from it.

Dannywmk,

Simple math. How long one would survive If hopes a bad trade that now shows 50 pip loss would turn favorable- only to close that bad deal at 70 pip loss, and on the other hand, quickly takes 10 pip profit on a winning trade (especially if that winning trade is the one which initially showed a loss before turning around)

I today missed a very well thought and planned trade that I was waiting for weeks. Lesson learned = Follow good advices from fellow traders ( I really mean that) but no one's methods. Good advices help us learn fundamental priciples and develop right attitude, but someone else methods or way of trading may or may not work for us.

Mr.Green gave very good suggestions to me as well when I joined this forum not very long ago. Be hopeful, many fellow traders are here provide guidance.

More action is what you need. You certainly need to calculate every movement, taking advices instead of adopting strategies is also a wise way to develop an strategy. But don't waste your time wondering whether quit. Real action will give you the answers, along with experience. As this guy above said, now he learned a lesson after blowing what he was expecting. He won't probably do it again.

Don't be a quitter. And winning at this professiion could by far be the most valuable thing you ever do. Get a professional trader to show you the ropes. It cuts all the stupid mistakes.

So quitting something makes you a quitter? There are always very appropriate times to admit defeat. Every time you cut a loss short, you admit you are wrong and you move on. This guy has lost a lot, how come no one is telling him to just cut this loss and move on?!?

You cannot honestly think EVERYONE can make it in this game as long as they just keep a "winning attitude". Of course you must have a "winning attitude" to be successful, but that is just one component of success. Lets be realistic here. Everyone knows the statistics, so for a whole lot of people, trading the forex market is a horrible decision. This is a fact.

Keep in mind that IF you are successful, then it is the losers that are paying for your success, so you cannot genuinely want everyone to be successful because than no one would be. This is why I have a hunch that it is these very losers that get upset when someone comes around and mentions that quitting IS in fact an option.

The only benefit of giving everyone a wet dream about the success of Forex is that it keeps the losers in the game long enough for the professionals to take their money.

The OP has blown up several accounts over three years, and the best solution he has to come up with is to post on a public forum how bad he is doing and hope some magical answer knocks him on his ass. I am sorry, but that does not sound like a winner to me. I could be wrong, and maybe some day he will find success here. But then again maybe, just maybe, he should take his money and his time and spend them elsewhere.

Totally agreed. Quit is missing the opportunity of gaining money supported on the fact of your development as a trader, and the strategies you can acquire. Quitting before even getting started is probably the worst choice.

We are not always winners, no one is, and take a break to think about the thing and go back is an alternative to handle money.
And how to lose the experience here! Forex, I always say, is not only money and money, we have other thing to learn and practice.

Sure man. When I stated I was excited and suddenly blow my demo. I thought if that had happened how it would be in real and I got disappointed but I didn’t stop to read news and see all the time forex movements. I like do this and that’s why I haven’t quit.

after manual trade for 3 years,
blasted a few LIVE accounts, lose some $$£££ .....

i start to feel is there really hope in FX ?


To answer the original post: I will edit this talk to just the high points. It takes years to get this down but if you haven't been improving yourself constantly during that time, then it hasn't been 3 years but a repeat of the previous year. Since trading is 90% thinking, how many books have you read? I went to all the libraries around for miles when I started and read all the trading books I could find, even the ones for stocks. I wanted to know how to think like a trader. Not to brag but I have at least 10 trading books on my shelf and I would like more. How many times have your read "Trading in the Zone" by Michael Douglas? I think about trading all the time and how to improve. Yes I have lost more than you in my close to 4 years but so what? Do you have a trade journal? do you chart over 10 pairs a day? What happens if you suddenly understand a new system but you haven't studied that pair? I have over time figured some things out and then can go back over my charts for the past months and see if the new idea makes sense. Here's a free gem for you: Have you noticed that the yen pairs, esp. gbp/jpy and eur/jpy, will usually make a move "around" 15:30GMT about 3 days a week? If you are having challenges (only quitters have problems), trade less. What if you could only make one trade a day or better 2 trades a week? Use longer time frames and trade less. Have you seen Brett Steenbarger's web site? Do you have other options than trading? If you are serious like me, I have no other options. I have to make it here. And guess what, good things are happening. I am now using Wayne McDonell's moving averages and it seems to work for me. Get his book on amazon.com or go to moneyshow.com, under on demand webcasts, look his name under speaker and see the videos he did at the Lost Wages Forex show in 2008.

I shouldn't have said that I lost money. The money that we lose in forex is our tuition for our education. If you aren't going to adapt and change, then the money is wasted. If you are serious, then the cost of education is going to be money and time and a lot of both. so what if it costs me $15k or so to have the greatest career in the world? That is one year at an average college. And those people come out after 4 years of college with debt and no job. I realized after 6 months that this was going to take many years to get down. Would I have done it different? Of course. I would have paper traded for a year and read as much as I could about trading. Do you newbies really understand the power of forex? Once you have your system down, you are 6 months away from big money. Trade 1 mini lot forever until you have many months in a row of success with a planned duplicatable system. Forex traders pay less in taxes than average big earners. And we can trade inside of a Roth IRA. My retirement years are going to be awesome as I will be able to trade, travel, play golf and legally pay no income taxes inside the Roth. Think about the future not just today.