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A system that works? Please!

  • #1
  • First Post: Dec 17, 2008 4:26am Dec 17, 2008 4:26am
OK this is serious! I have been trading forex for nearly 6 years and not made a dime. I have lost plenty and now I am broke. My wife has filed for a divorce and I am seriously wondering if it is ethical to encourage others to get into forex thru sites like this.
I have read, backtested and tried with demo and real money just about every trading strategy on every forum in the last 6 years and not made a penny!
I am about to give this away for good but thought I would throw my case to the wind before I do. I am flat broke having not earnt a penny in the last 5 to 6 years. All I am asking is that if you have a system that will help me pay my bills please feel free to let me know about it. I am about to get kicked out of my flat and like I said my wife has left me. Please help me. And although I appreciate it. Please no systems that have worked for the last week. Long term please. Otherwise as I saspect I will close this part of my life down for good and move on. Who knows. This lifeline could be may final plea grace ?
I always wanted to be successful in forex but this is make or break. No more chatty forums. No more looking at systems that worked for the last 3 weeks Please if you have somehting that is easy to follow and MAKES MONEY please get in touch URGENTLY!
  • #2
  • Dec 17, 2008 4:37am Dec 17, 2008 4:37am
Hello !

I'm sorry about this. But just a question : If you are in this since 6 years, have you worked on your own psychology ? Because there is a lot of working system here, but the best in the system made by YOU.

For me, i have lost two account, i'm in the forex since 36 months, in real money since 12 months, started from a system found here, but worked on it for suit to me... it's a lot of work to study and understand what is the market...

but if now you are counting on forex to pay your bills, hum... you have too much presure for making good work.

It's just my thinking, but good luck !

(sorry for english)

Quoting Gazmanfx
OK this is serious! I have been trading forex for nearly 6 years and not made a dime. I have lost plenty and now I am broke. My wife has filed for a divorce and I am seriously wondering if it is ethical to encourage others to get into forex thru sites like this.
I have read, backtested and tried with demo and real money just about every trading strategy on every forum in the last 6 years and not made a penny!
I am about to give this away for good but thought I would throw my case to the wind before I do. I am flat broke having not earnt a penny...
  • #3
  • Dec 17, 2008 5:38am Dec 17, 2008 5:38am
I think if you have been trading forex for 6 years without making any money at all then you seriously need to find another way of making an income

Trading with "scared" money never works - if you need trading profits to pay your bills then you will move from one system to another, abandoning each one as soon as you have a losing trade

Sorry to be so pessimistic but there are several excellent trading systems on this forum, and if you haven't been able to make any of them work for you then I suspect the problem is in your own head
  • #4
  • Dec 17, 2008 5:43am Dec 17, 2008 5:43am
I agree with the last poster, before it gets any worst, you'll be better off in a regular job. Just think about all the sacrifices and mental stress, I believe is not worth it at this time.

Time to face the truth my friend.
  • #5
  • Dec 17, 2008 5:52am Dec 17, 2008 5:52am
Forget about scalping and lower time frames. Forget about tight stops. Forget about this risk/reward calculation crap.

You need a paradigm shift. Drop me a PM or mail. No fear, I don't sell anything.
  • #6
  • Dec 17, 2008 8:25am Dec 17, 2008 8:25am
Quoting Xaron
Forget about scalping and lower time frames. Forget about tight stops. Forget about this risk/reward calculation crap.

You need a paradigm shift. Drop me a PM or mail. No fear, I don't sell anything.
I have to disagree on that.

Your problem is not any "system" Any paradigm shift or any other hocus-pocus won't do any good. You're in a brink of divorce, broke and emotionally battered. You should take control of your life now, regroup and if you want to come back, make sure your head is clean.

Taking your life back should be your priority. No system will give you a way for paying bills and stuff. Forget that. Be realistic my friend.

It's time to stop. Period.
  • #7
  • Dec 17, 2008 8:33am Dec 17, 2008 8:33am
Quoting wiztrader
I have to disagree on that.

Your problem is not any "system" Any paradigm shift or any other hocus-pocus won't do any good. You're in a brink of divorce, broke and emotionally battered. You should take control of your life now, regroup and if you want to come back, make sure your head is clean.

Taking your life back should be your priority. No system will give you a way for paying bills and stuff. Forget that. Be realistic my friend.

It's time to stop. Period.
Seems from the situation, wiztrade advise is real.

You can always come back again.
  • #8
  • Dec 17, 2008 9:31am Dec 17, 2008 9:31am
6 years is a long time...I think it is time to move on.

Besides, if you spent 6 years trading with all the systems posted at this forum and you found they all failed, maybe you should consider the possibility that "profitable systems" are not posted on public forums.

Good luck, and I hope you can get your life together.
"I say high, You say low, You say why, and I say I don't know..."
  • #9
  • Dec 17, 2008 10:37am Dec 17, 2008 10:37am
it's sad to read this
I'm sorry...
now it is time to remake your life... Look for a regular job.. to start saving a little to invest... if you don't have anything you can't trade... You have to trade only with money you can lose !!
While working in a new life... if you still want to trade.. forget about scalping and quick money. Trade the daily charts. That's my advice. Forget about indicators and oscillators... Forget about the holy grail... Read about MONEY MANAGEMENT. That's the most important thing in any business. and forex as a business can't be different. The trading system you use doesn't matter because sooner or later it won't work as the market changes.

Good luck in your new life. remember not to trade with money you can't lose. Demo meanwhile.
  • #10
  • Dec 17, 2008 11:14am Dec 17, 2008 11:14am
Quote
if you have a system that will help me pay my bills please feel free to let me know about it.

There is your problem after 6 years you still sound like a noob.
"Please what indicator combination will never lose..."
Maybe you are just not meant to be a trader. There has to be a point
where everyone should evaluate if he's going to make it in forex trading or
if he should save his time doing other things.
  • #11
  • Dec 17, 2008 9:11pm Dec 17, 2008 9:11pm
I don’t say anything about you but yours words really sound loser
My experience is not as large as yours but all that time for this? Jeje, that’s going direct to you
Take a break and notice all you have in the suitcase and restart your trade
  • #12
  • Dec 17, 2008 10:06pm Dec 17, 2008 10:06pm
Hi Gazman,

Quoting Gazmanfx
OK this is serious! I have been trading forex for nearly 6 years and not made a dime.
Forexfactory.com is one of, if not the largest Forex related forums on the internet. If everybody that came asking for a holy grail was handed one that actually worked, we all would be Gazillionaires by now.

Quoting Gazmanfx
I have lost plenty and now I am broke. My wife has filed for a divorce and I am seriously wondering if it is ethical to encourage others to get into forex thru sites like this.
It's not fun to be broke. I've been there and I understand your situation perfectly. Sorry about the divorce too. But to question the ethicality of the very forum, and hence the people, you are seeking help from is counterproductive. Might as well preach chastity in a brothel.

Quoting Gazmanfx
I have read, backtested and tried with demo and real money just about every trading strategy on every forum in the last 6 years and not made a penny!
The problem is not the strategy. Time for tough love my friend. Take a look in the mirror. That's where the problem is. Don't believe in strategy, believe in yourself.

Don't spend money on strategy. Spend money on books. Educate yourself. I suggest that you start with "Trading in the Zone". I paid $70 for it a few years ago and at the Amazon price, it's a steal. http://www.amazon.com/Trading-Zone-C.../dp/0735201447

Quoting Gazmanfx
I am about to give this away for good but thought I would throw my case to the wind before I do. I am flat broke having not earnt a penny in the last 5 to 6 years.
I spent 5 years, off and on. Admittedly with large "off" gaps demo trading before I put one dime into a real money account. When someone spends that much time without making money at it, it means you have motives other than financial. Maybe you like to gamble and where looking for excitement? I don't know.

For me, it was to find a sense of control. It took me years to discover that I couldn't control the market. But as long as I can control myself in the aspects of my trades, I would do O.K.

Get your life in order. Find a steady income. Call up your wife and talk to her. Get things back on track before you even consider Forex. And when you do, demo trade. And demo trade again and some more. Find out what works, what doesn't work. What you're comfortable with and what you're not comfortable with.

There is no Holy Grail, and if there where, it would be a fine, delicate thing that couldn't be handled by you because you're just too jittery.

It's the Holidays, go back to the basics. Spend time with those close to you. Rich or broke, little else matters.
Not all sins are created equal
  • #13
  • Dec 17, 2008 10:34pm Dec 17, 2008 10:34pm
Quoting Gazmanfx
Please if you have somehting that is easy to follow and MAKES MONEY please get in touch URGENTLY!

A trading system is like a tool, it does the job it was meant to do. As with any tool, you need to learn how to use it. Not knowing how to use a trading system will cause you to lose money. I tell people that ultimately, they are the best trading system. I do not consider someone a good trader unless they can double their account on a coin toss in 50 flips or less. The reason why I require people to do that is so that they can determine whether or not a system is good or bad.

If you see get-rich-quick status from Forex, get out NOW. Instead, I suggest real estate, given the rock-bottom prices I'm getting here, I'm having very little difficulty acquiring properties with no money out of my pocket.
  • #14
  • Dec 20, 2008 8:56pm Dec 20, 2008 8:56pm
I don't believe the guy traded for 6 years. too flippant and smiling at the end.
Id say ,,,, 1st maybe sencond month trading looking for a gimme.
Tried every system? Sure buddy. I d run you over if I have the chance.
  • #15
  • Dec 20, 2008 9:38pm Dec 20, 2008 9:38pm
If you're too stupid to figure out to get another job after 6 years of nothing, then its your own fault. Find a system that suits YOU, then stick to it. Money Management, Psychology are the main things.

But anyway, I don't believe a word you're saying anyway. Perhaps try putting an ounce of effort in to it rather than trying to get it delivered to you on a silver platter.

Good Luck.
  • #16
  • Dec 20, 2008 9:47pm Dec 20, 2008 9:47pm
Get to work on something that will return you funds.

If FX refuses, look elsewhere.
  • #17
  • Dec 21, 2008 5:41am Dec 21, 2008 5:41am
Thank you to all the wonderful replies. I appreciate all your wisdom but none so much as what I got today when I revisited the trading naked web site which made it simple. "Find a system that suits you and stick to it"
Also gang did you know that Eddison failed to create the electric light bulb 300 times before he was successful? His wife, family and friends kept telling him to go get a job in a call centre but he pressed on and today we all see the light. I think perserverence is the key to trading. Thanks again folks and have a very special Xmas
  • #18
  • Dec 21, 2008 6:07am Dec 21, 2008 6:07am
I've yet to see a single mechanicly applied system that works long term and with non-marginal results. There are better and worse systems in terms of the opportunities they offer but it is my firm belief that only by excersizing discretion and choosing good opportunities out of all those potential trades offered to you by a good system can you really profit long term. Proper discretion comes from experience - lots and lots and lots of screen time. Of course, I've only been at it for 1 year, so who knows what the future holds...
On the path to Enrichment.
  • #19
  • Dec 21, 2008 2:57pm Dec 21, 2008 2:57pm
WOW, Looks like there will be a Santa in the neighborhood this year after all. Though I still favor the EUR/YEN, I must say that the EUR/USD alone gave me over 900 pips last week and GBP/USD gave me1400 plus. Grand total for the week was 3147 pips. Not bad for a 6 month newbie??? I agree! I have a great system now using two different sets of software simultainiously, each with only 2 pairs, atleast 2 charts per pair and the only common link to all the charts are the candles. I see moves as they develop and my entry points tend to be 30 to 45 seconds into the second candle depending on overbought/oversold conditions. I love my coach...
  • #20
  • Dec 21, 2008 9:16pm Dec 21, 2008 9:16pm
Just curious what system are you using
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