Dislikedstarted like almost everyone else with technical/day/scalp trading but transitioned into fundamental/swing/long term trading.lot less stress and more profits plus don't have to be glued to the screen when the markets open.
do have an economics degree and traded stocks for years before trying forex so understood how the markets work so i may have had an advantage over others who start out new.
tried every system and strategy and learned to just keep it simple.i study charts for spotting trends,entry/exit points,etc., but base most of my decisions...Ignored
- | Joined Jan 2010 | Status: Member | 377 Posts
I hate forex too, 1 year trading and I have blowed up 3 accounts, yesterday I lost 6%, shorting at 1.229, at 1.237, at 1.244 and at 1.248, now the EURUSD is at 1.252, from 1.218 to 1.252 in 12 hours, I can't believe it, if I lose a 6% everyday in one month I will blow up this account too 
Why I can't stop trading? Because the first week I traded I won a 1000%, with 1:500 leverage, I though I will be rich in few weeks, I didn't believe it... And the next week, in 2 days I lost everything.
I'm still waiting since then a good week like that, but now I trade with 1:50 leverage only (if not, I would blow up all my accounts in 1 week).
Why I can't stop trading? Because the first week I traded I won a 1000%, with 1:500 leverage, I though I will be rich in few weeks, I didn't believe it... And the next week, in 2 days I lost everything.
I'm still waiting since then a good week like that, but now I trade with 1:50 leverage only (if not, I would blow up all my accounts in 1 week).
- | Joined Jan 2009 | Status: independent mind | 1,104 Posts
I hate forex too, 1 year trading and I have blowed up 3 accounts, yesterday I lost 6%, shorting at 1.229, at 1.237, at 1.244 and at 1.248, now the EURUSD is at 1.252, from 1.218 to 1.252 in 12 hours, I can't believe it, if I lose a 6% everyday in one month I will blow up this account too
Why I can't stop trading? Because the first week I traded I won a 1000%, with 1:500 leverage, I though I will be rich in few weeks, I didn't believe it... And the next week, in 2 days I lost everything.
I'm still waiting since then a good week like that, but...
why you go against the trend ? are you master on the reverse levels ? this is a big risk and mistake to do!
take a break to learn and to estable on profitable system then you going to do fine.. I been same as you and a lot was too...
Regards,
Alaa
- | Joined Jan 2010 | Status: Member | 377 Posts
why you go against the trend ? are you master on the reverse levels ? this is a big risk and mistake to do!
- Joined Mar 2009 | Status: Getting closer to ...... | 1,787 Posts
People say We can easily double/triple and
even make 1000% our money investing in forex everyday.
What I get since last 4 month is only 5-20% / month..
last year was even worst, I get -20% to breakeven..
Whats the real problem here?
Me ? or the expectation ?
Or i need more time to ever double my money every single day until forex is closed for ever because I get all the cash in the world !
=================================================
Do you hate forex ?
Did you enter...
The smaller sized capitals expect large returns to offset the amount of time they have to input into analysis and managing executed trades. The larger capital players can manage very well with small gains and hence 0-30% per annum is highly acceptable.
Dont get sucked into the BS that people throw about. If someone is making rediculous growth then I can say will almost certainty that they will fail to post after 6 months (<---- and that is being very generous).
Consider 20% in regards to 2k and 2M. $200 per year for someone who has devoted X amount of hours of learning (study, reading books, time in forums such as this) is not going to cut the mustard. They would be earning less than a bowl of rice per week for their efforts. The thing they fail to realise in the above scenario is that it is a process and the beginning of creating a HABIT that in time, provided they treat it with care, will allow them to trade, with confidence a larger account.
The 2M (or similiar) have gone through the process and have built the foundations for a successful future. They have not neccesarily built and account from X dollars to some huge figure but what they have done is over time built the confidence/trust that has enabled them to manage larger capital risks without the huge emotion/psychological barriers that stop 95% of people from progressing.
If you can over the years achieve 20% or better (even some less than that) then you will be doing yourself a far greater justice than someone who for 3 months of there life can claim that they made 2000% returns in a week. Very few of these last long enough to boast retirement and a healthy capital that will last throughout.
Razor
- Joined Apr 2009 | Status: Member | 2,891 Posts
People say We can easily double/triple and
even make 1000% our money investing in forex everyday
What I get since last 4 month is only 5-20% / month.
last year was even worst, I get -20% to breakeven..
Whats the real problem here?
Me ? or the expectation ?
Or i need more time to ever double my money every single day until forex is closed for ever because I get all the cash in the world !
=================================================
Do you hate forex ?
Did...
If someone tries to be a Pro Football player but he fails, should he start hating Football??
Or should he think about his own weakness/faults/incompetence?
.
- | Joined Aug 2009 | Status: Member | 2,585 Posts
...very trueMost real investors will kill and go to war for a 10% to 20% per month gain .... consistently that is ....
Annoying Precision
- Joined Feb 2009 | Status: Borderline yahoo & oh-no! | 6,607 Posts
Depends mate, some ppl hate what they cant succeed at.
it's called frustration.
it's either u work at it hard & long enough or u dont cut it.... unless u are not ready or meant for it.
- | Joined Jan 2009 | Status: independent mind | 1,104 Posts
of course. that's normal.
it's called frustration.
it's either u work at it hard & long enough or u dont cut it.... unless u are not ready or meant for it.
