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  • #81,461
  • Mar 31, 2009 12:05am Mar 31, 2009 12:05am
Quoting 2 + 2 = 4ex
Thanks Jay! I really like the prospect of being able to make money quick in Forex. Don't get me wrong I know it's not easy and I'm not underestimating it. Like I said before, I have wiped out my accounts before, although not alot. When I replenish I don't put alot. Well, not alot for many, it is alot for me, although money I can afford to lose. I usually replenish with somewhere between $1k & $5k. Overall, I'm down $12k since November.

I think where I mess up is I cash out too early. When I get up by 20 something pips I get excited and cash out...
Hi 2+2....Before you get serious about Forex Trading, i recommend this website

www.babypips.com

After you completely educate yourself from this website, next thing is for you to master Fibonacci and Elliott Wave theory. (just my personal recommendation)

Please educate yourself as much as possible before thinking to put serious money into Forex trading. I have learned the hard way and i am sure most traders here too. But i don't want you to go through what i had gone through...believe me. You will either loose your accounts again and again until you decided to quit or eventually you decide to educate yourself.

Dont loose anymore of your account. Please start now....not later....and babypips.com is a good place to start.
Collecting pips
  • #81,462
  • Mar 31, 2009 12:19am Mar 31, 2009 12:19am
Thank you Suj! I was just checking out that website and it looks very helpful. I added it to my favorites!

I know I must take baby steps in order to have long term success in this. But I have to admit, I'm very tempted to go in large and see if I get lucky. If I do then I'll be up big and playing "on the house's money", sort of speak (for awhile at least).

At one point I was up earlier this year by about $2600 (not overall just after a replenish), but gave it all back on virtually a few trades. It sux to lose, but I have to admit, Forex is probably the most exciting way to lose money. And I'm not a gambler type. I never go to casinos or anything like that.

Good luck all!
  • #81,463
  • Mar 31, 2009 12:24am Mar 31, 2009 12:24am
Quoting 2 + 2 = 4ex
Forex is probably the most exciting way to lose money
The official slogan is "Forex, the most exciting way to lose money"

Don't fall in the trap of trading for the sake of trading.

I like flirting, but I like getting laid even more.

As such, I like trading. But I like making money even more.
Not all sins are created equal
  • #81,464
  • Mar 31, 2009 12:30am Mar 31, 2009 12:30am
Quoting Jay Walker
Also, don't drink while surfing this thread.
Don't eat either if you're Home Alone either, as there will be nobody to do the Heinlich on you and you could turn Blue and get the Big Margin Call....

BTW, as much as i hate to point this out, I'll do so only with the caveat that within the appropriate TF, this might turn out to be worth a few pips, but IF and only if it breaks the current support, once it's exhausted ((like maybe back to the DP IF IF IF IF it breaks and it easily MIGHT NOT!)) fuhggit you ever saw it.... don't hold out for a thousand pips or nothin stoopid like that.

((I know I'm going to regret this))
Attached Image
FUBAR...
  • #81,465
  • Mar 31, 2009 12:31am Mar 31, 2009 12:31am
Quoting 2 + 2 = 4ex
Thank you Suj!...
Please note this, im not trying to scare you and anyone here, this is fact.

95% OF FOREX TRADERS FAIL.

So you should ask yourself, whats the other 5% do to survive and succeed?

I don't want you to loose anymore of your money the way you did. You will not survive this jungle without havin your compas, knives, survival kit. Forex education will gives you all the above for you to stay alive in this heartless jungle. It will take what belongs to you before you have a chance to even look back.

Good Luck and Good Trading!
Collecting pips
  • #81,466
  • Mar 31, 2009 12:33am Mar 31, 2009 12:33am
Quoting Jay Walker

Don't fall in the trap of trading for the sake of trading.
This.
  • #81,467
  • Mar 31, 2009 12:33am Mar 31, 2009 12:33am
Fact is that 33% of 1/2 of all stats are erroneous.

And 5 people out of 4 don't get fractions.

I always wondered where that so called "fact" came out of. Has there been any case studies of traders?
Not all sins are created equal
  • #81,468
  • Mar 31, 2009 12:39am Mar 31, 2009 12:39am
Quoting ak4x
Don't eat either if you're Home Alone either, as there will be nobody to do the Heinlich on you and you could turn Blue and get the Big Margin Call....

BTW, as much as i hate to point this out, I'll do so only with the caveat that within the appropriate TF, this might turn out to be worth a few pips, but IF and only if it breaks the current support, once it's exhausted ((like maybe back to the DP IF IF IF IF it breaks and it easily MIGHT NOT!)) fuhggit you ever saw it.... don't hold out for a thousand pips or nothin stoopid like that.

((I know...
that's a new pattern, I've never seen before AK - Sooo - I looked it up on on urbandictionary and they call it a triple conehead - right?
Pip what you see; See what you pip!
  • #81,469
  • Mar 31, 2009 12:42am Mar 31, 2009 12:42am
Quoting Jay Walker
Fact is that 33% of 1/2 of all stats are erroneous.

And 5 people out of 4 don't get fractions.

I always wondered where that so called "fact" came out of. Has there been any case studies of traders?

http://books.google.com/books?id=Qsg...um=5&ct=result

http://www.content4reprint.com/finan...come-great.htm
Collecting pips
  • #81,470
  • Mar 31, 2009 12:49am Mar 31, 2009 12:49am
Quoting Jay Walker
The official slogan is "Forex, the most exciting way to lose money"

I like flirting, but I like getting laid even more.
LOL
  • #81,471
  • Mar 31, 2009 12:51am Mar 31, 2009 12:51am
Quoting 2 + 2 = 4ex
it looks very helpful.
I'm on a mission to see that any and everybody that knows about Babyfreakin pips also knows at least as Much or More about--> http://www.forexfactory.com/showthre...ed#post1502902

This and a few other things here at the Factory should be required reading for anybody that **************** oh never mind.

Simply put, this is Gold for the price you'll pay for it. Nothing but some time. So pay yourself $20 an hour out of your stash to read and you can Make Money while learning and that's better than Losing Money while Not Learning.

If you're already trading for 6 months but having trouble, then read and follow Peter's thread first, second, and thirdly. If you're still having trouble, then there is a Problem.

Quoting PeterFM
If many of the posts on the forum are typical, a fair proportion of those new traders will be dead in the water within months. Many will tuck their tails between their legs and never be seen again.

Some will stick another lump of money into their accounts and try again, and all this time the brokers are gaining their spread income...
GOLD...
FUBAR...
  • #81,472
  • Mar 31, 2009 12:52am Mar 31, 2009 12:52am
Quoting Suj_cess
http://books.google.com/books?id=Qsg...um=5&ct=result

http://www.content4reprint.com/finan...come-great.htm
Thanks Suj. I know that saying is common and while I know that most fail, I still have doubts about it being 95%.

What if someone tries Forex and say he decides that stocks works better for him? Does that count as someone who failed at Forex because he moved on to what he feels is a better thing? What about someone who did well but dropped out for whatever reason? Does that count as a fail?

I think you get what I'm trying to say. But thanks again for the links. They will help me get to my own conclusions
Not all sins are created equal
  • #81,473
  • Mar 31, 2009 12:54am Mar 31, 2009 12:54am
Just asking?
Attached Image
Forex Price Action Hacked - Price Action Rockstar
  • #81,474
  • Mar 31, 2009 12:55am Mar 31, 2009 12:55am
had to catch some z's see i didnt miss much..
those who can, do. those who cant, talk about those who can
  • #81,475
  • Mar 31, 2009 12:57am Mar 31, 2009 12:57am
wow, the chart came out just like the cone head illustration below. Nice call!
  • #81,476
  • Mar 31, 2009 12:57am Mar 31, 2009 12:57am
Quoting gatorinla
had to catch some z's see i didnt miss much..
Since you managed to catch some z's, do you have a few spare ones for me?
Not all sins are created equal
  • #81,477
  • Mar 31, 2009 12:58am Mar 31, 2009 12:58am
Quoting 2 + 2 = 4ex
wow, the chart came out just like the cone head illustration below. Nice call!
That's Ak. He is that good.
Not all sins are created equal
  • #81,478
  • Mar 31, 2009 12:59am Mar 31, 2009 12:59am
Quoting Jay Walker
That's Ak. He is that good.
Is he in the 5%?
  • #81,479
  • Mar 31, 2009 12:59am Mar 31, 2009 12:59am
Quoting Suj_cess
Please note this, im not trying to scare you and anyone here, this is fact.

95% OF FOREX TRADERS FAIL.

So you should ask yourself, whats the other 5% do to survive and succeed?

I don't want you to loose anymore of your money the way you did. You will not survive this jungle without havin your compas, knives, survival kit. Forex education will gives you all the above for you to stay alive in this heartless jungle. It will take what belongs to you before you have a chance to even look back.

Good Luck and Good Trading!
I think the 95% fail rate applies to only newbies trading the forex market.. read an article bout that
  • #81,480
  • Mar 31, 2009 1:00am Mar 31, 2009 1:00am
Quoting 2 + 2 = 4ex
Is he in the 5%?
Yes...Well, I won't look at his tax return forms but I have no reason to doubt that he isn't.
Not all sins are created equal
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