Giving Up | Page 6 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

The Road to Riches: Giving Up 8 replies

Us Farm Bill giving CFTC oversight of Forex? 0 replies

Giving It All Back. 47 replies

CMSFX Giving Away $500 Live Accounts 556 replies

Gft Account Opening - But Am I Giving Away All My Power? 6 replies

Attachments: Giving Up
Exit Attachments

Giving Up

  • #101
  • Jul 19, 2009 11:26pm Jul 19, 2009 11:26pm
Quoting Takisd
You'd probably do alot better being in a complete vacuum or trying to spectate a trading floor somewhere than to actually talk to people on FF. Judging by some of the responses here, my case is already proven.
Thanks for the reply, your right, I've been spending too much time here again. My best month this year (March) was when I told Belekas I was not going to visit the forum for the month, and if he saw me on here he could call me out
Quote
"alright, I'm making it a goal to stay off FF for the rest of this month, if you see me on there feel free to write a post on there calling me an undisciplined pansy".
I spent the whole month focusing on my trading only and not getting caught up in this crap. Turned around a negative week and finished the month with a nice gain.

Thanks to all the positive responses. Good luck to you all.

JJ
  • #102
  • Jul 20, 2009 2:19am Jul 20, 2009 2:19am
Quoting Takisd
dont let one lousy month take you down. Especially when you will probably make a bucketload on the next month.
Probably? Not being funny but how did you arrive at that conclusion?

The guy says he's been studying and trading 60+ hours a week (!!!) for the last year, and after several months of great performance he's had 3 months of "just terrible performance" and is down 22%. By the sounds of it he's also lost (some) confidence and faith in the market's profit potential "I am definitely at the point where I am broken down more than I ever have been", "this low I'm in right now just plain sucks"

I don't see how any of that can be a recipe for making a bucketload next month, if anything it's the perfect situation for even more losses.

Ah what's the point, let's all just post meaningless platitudes, he'll likely end up a statistic anyway......
  • #103
  • Jul 20, 2009 2:20am Jul 20, 2009 2:20am
Quoting Jimmy Jones
Thanks for the reply, your right, I've been spending too much time here again. My best month this year (March) was when I told Belekas I was not going to visit the forum for the month, and if he saw me on here he could call me out I spent the whole month focusing on my trading only and not getting caught up in this crap. Turned around a negative week and finished the month with a nice gain.

Thanks to all the positive responses. Good luck to you all.

JJ

Remove all distractions while trading, well if your a scalper, no FF, switch your phones off, no E-mail, no Web surfing, maybe some music and work through the boredom sadly and focus totally on the task at hand.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #104
  • Jul 20, 2009 3:46am Jul 20, 2009 3:46am
It is not easy to make money in this efficient market
  • #105
  • Jul 20, 2009 5:14am Jul 20, 2009 5:14am
Quoting Jimmy Jones
How many times per year do you guys feel like giving up? I'm feeling it pretty strong right now, after several months of great performance followed by three months of just terrible performance.

A short time ago I felt great about trading, what I wanted was crystal clear and how to get it made sense.

Now I feel like I'm completely lost all over again, as if the last year of 60+ hour a week studying and trading was nothing but a dream that produced no skills or experience in the marketplace. Like a noob, all over again.
I've felt what you're feeling, but I'm driven by a really good carrot
and a constantly-infuriating stick.

I've been hooked since I read in Getting Started in Currency Trading
that a single trade could rake in a profit of $60,000 US in less than
2 days. It's in the book. Read it for yourself. That was a bolt from
the blue for me. I thought at the time that if forex had a system,
technical or fundamental or both, that can produce that kind of
result -- or even a tenth of it -- then I wanted in. (That's a year's salary
for the average American in less than two days.)


Secondly, my job is quite possibly yours--I'm an ESL teacher, and
it's an exercise in futility many days. The pay is entry-level and
there is no end to the frustration and nit-picking. They expect you to pull
a rabbit out of a hat without giving you a rabbit, and a negative evaluation
can cost you your monthly bonus, such as it is. They just won't
let you make any money in Japan.


Plus, I've given my word to people that I'm going to trade my way
to an early retirement -- so I have to keep that promise or
I'm going to look like an a##hole.

The only thing I can suggest is that your trades may fail due to
no fault of your own. Some Swiss millionaire on a yacht decides
to unload $10,000,000 on a Wednesday morning just to offset
a tax burden and suddenly our trade goes south 200 pips -- does
that mean we little guys are failures? Does that make us losers?
We didn't even see that coming. We couldn't have.
Bad trades should only be judged as mistakes in light of the
information that was available to us at the time. We made the trade
without knowing that Herr Von Moneybags was going to flood
the market on a whim.

They say that a Hall of Fame ball player misses 7 out of 10 pitches.
He fails to connect 7 times out of 10 -- yet he still gets into the HoF.
Traders should not feel discouraged. Think about that house in
Bel Air or that deluxe condo in the South of France, and realize
that others are doing it. ...I'll throw in some articles in case you
want to re-evaluate your strategy.
Attached File(s)
File Type: pdf A+ PFX - bonus_report_macd_strategy PFX 10 pgs.pdf   403 KB | 686 downloads
File Type: pdf A+ TAS&C - Volatility Patterns 40-100 pips per trade (TAS&C).pdf   344 KB | 377 downloads
File Type: pdf A+ - FUTURES - Currency-Trading-For-The-Rest-of-Us (futures mag) Dec 2001.pdf   228 KB | 412 downloads
File Type: pdf A+ - Impressive Signals From DeMark[1].pdf   201 KB | 330 downloads
File Type: pdf A+ - TD SEQUENTIAL with Tom DeMark.pdf   246 KB | 469 downloads
HELL IS EMPTY, ALL THE DEVILS ARE HERE. -- Shakespeare
  • #106
  • Jul 20, 2009 5:27am Jul 20, 2009 5:27am
Quoting blunderbuss
I've felt what you're feeling, but I'm driven by a really good carrot
and a constantly-infuriating stick.

I've been hooked since I read in Getting Started in Currency Trading
that a single trade could rake in a profit of $60,000 US in less than
[font=Georgia][size=3][color=darkred]2 days....
hi, thanks for sharing the systems, but i will like to say sth, hope it doesn't sound rude, but earning 60k in 2 days doesn't mean a thing does it? even its a 1:20 R:R trade, u still need 300k in ur account before u can earn that much? so seriously it doesn't mean anything unless u saying it in terms of pips
  • #107
  • Jul 20, 2009 7:11am Jul 20, 2009 7:11am
Quoting Jimmy Jones
Thanks for the reply, your right, I've been spending too much time here again. My best month this year (March) was when I told Belekas I was not going to visit the forum for the month, and if he saw me on here he could call me out I spent the whole month focusing on my trading only and not getting caught up in this crap. Turned around a negative week and finished the month with a nice gain.

Thanks to all the positive responses. Good luck to you all.

JJ
Take it easy my friend and you will get there. Hard work and lots of patience pays of at the end. Just focus on your own path as you have all the tools needed and minimize your time spent on the forums. Helped me so much i remmember.

Regards.
  • #108
  • Jul 21, 2009 6:02am Jul 21, 2009 6:02am
Quoting yuan83
hope it doesn't sound rude, but earning 60k in 2 days doesn't mean a thing does it? even its a 1:20 R:R trade, u still need 300k in ur account before u can earn that much? so seriously it doesn't mean anything unless u saying it in terms of pips
Good point. I was kind of hoping people would go out and buy that book, but that would be asking a lot.

1) The move discussed in the book was a 300-pip move.

2) I hope to develop my trades to the point where I actually have
$300,000 or more in my bank. To be able to generate that kind of money,
without having to work at an office environment full of bullshit and
meaningless corporate pep talks, makes all the short-term hassle
worthwhile.
HELL IS EMPTY, ALL THE DEVILS ARE HERE. -- Shakespeare
  • #109
  • Last Post: Jul 21, 2009 9:06am Jul 21, 2009 9:06am
Stick at it Jimmy, we've all been there. One thing though. Look to trading longer term, most start by trying to scalp to raise a quick buck. Its a mugs game mostly - I did it for long enough before I caught on. You're here to make money so focus on the process not the prize and the rewards will come.

There's a great line in the book I'm currently reading, 'Reminicences of a Stock Operator' by Edwin Lefervre, "If a man didn't make mistakes he'd own the world in a month. But if he didn't profit by his mistakes he wouldn't own a blessed thing."

It was written in 1929. The more things change the more they stay the same.
0 traders viewing now