DislikedYou are not alone. I would say most people lose money when they first start. It is not easy. It took me approximately 2.5 years to finally turn a profit. When I say that, I mean that it took me that long to make back my losses. If you are afraid when you are entering a trade, you may need to reduce your position size.
[b]I'm sure everyone has different views on this market but if someone asked me if I would recommend trading forex as a way to gain some extra income, knowing what I know now (after five years), I would have to say no. You'd be...Ignored
hi, im new to forex exchange, i wonder how could u so sure that it'll move up first then down? i find it really difficult to trade, i alway predict wrongly and and lose a great deal of money, i dont know where to start to learn and how i learn any more. im afraid everytime i make order. i need some help but not sure who can, is every one start trading like i trade? always lose money first? if so how long roughly it take u until u start to gain money stady?
if any one else could help i would be greatly appreciate!
Thank you!
(sorry if i spell anything...
i think your prediction is not allways wrong. it just not happen yet, and when your prediction is going to happen in the real world, you allready out from your position, so you dont event enjoy your "win" that you should get if your are not out from your transaction yet.
it happen to me a lot Cheers
- #12,668
- Jan 6, 2010 6:35am Jan 6, 2010 6:35am
- Joined Oct 2006 | Status: Trader | 7,219 Posts
Well I disagree, I have been trading shares for over 5 years for a living and have started trading forex about 6 months ago and have done fine...yes I have had loses but thats part of trading, but I call them the cost of my education and move on to a new and a better trade.
Hellboy posted his question 8 hours ago and I didn't see anyone step forward and tell him "hey, this game is easy, I'm rolling in green".
And forgive me if I am mistaken, but weren't you the one who nearly lost his shirt a few weeks ago and who didn't understand leverage or use stop losses? And now you say you are doing fine? Well done to you then
Maybe you should ring the Oracle of Omaha and tell him that you'll be able to shake that money tree for Daddy.Feel free to give Hellboy your winning method. Hell, if you're doing so great, how about posting some calls on the thread with stop losses and take profits and the reasons why you are entering the trades? I'm sure we would all benefit from them.
Nothing worth having is easy.
- #12,669
- Jan 6, 2010 6:50am Jan 6, 2010 6:50am
- Joined Oct 2006 | Status: Trader | 7,219 Posts
Thank you Patience, really appreciate your help! im a student when i just strat trading i win some little money and i thought this is really easy and a great way to earn money, but then i start losing money, every time i lose i increase my order hoping to make it back but i was totally wrong and i lose lots money i earn from part time job! lol im too afraid to tell my parents, now i know how hard its to earn money in this world. i know how important is about the risk manegement. i know i should forget the money i lose and start over but sometime...
There are a lot of people on this forum that blow hot air about their profits and if you had been hanging around here as long as I have, you would know what I am talking about. I've seen a lot of posters come and go - mostly going because they blew their account.
Before you put your faith in any posters that claim 10 gazillion pips a day etc, be sure to check their trading statements if they dare to show them. And if they dare to show them, make sure they aren't from a demo account or falsified - lol. Some people will do anything for attention it seems.
Keep it green
Nothing worth having is easy.
- #12,671
- Jan 6, 2010 7:09am Jan 6, 2010 7:09am
- Joined Oct 2006 | Status: Trader | 7,219 Posts
Nothing worth having is easy.
I agree with SwissKinseb. Unless price break below 0.9090, I wouldnt short. The uptrend is still strong.
My AUD trades today (on the 5M TF):
1) Long at 0.91291. Stopped out at 0.91347 => +50
2) Long at 0.91597. Cut Loss at 0.91542 => -51 (BAD! Trailing stop too tight!)
Currently Long USDJPY 92.402, was up +290 earlier but near BE now
My AUD trades today (on the 5M TF):
1) Long at 0.91291. Stopped out at 0.91347 => +50
2) Long at 0.91597. Cut Loss at 0.91542 => -51 (BAD! Trailing stop too tight!)
Currently Long USDJPY 92.402, was up +290 earlier but near BE now
- #12,677
- Jan 6, 2010 9:00am Jan 6, 2010 9:00am
- Joined Apr 2008 | Status: Trader | 9,414 Posts
I understand from your post that you have opened 4 shorts on AUDUSD.
I personally still see a strong impulse and the pair could go higher, at least to 9190-9210 (which is a zone of intersection of both upper trendline of downtrend and lower trendline of uptrend that was broken in early december).
Attachment
Indeed yesterday night I had a much stronger view of a fall (three H4 candles ago)... now it doesn't seem so much the case. I can't give you any recommendation on your last question though, as you should follow (or set up) your...
http://www.forexfactory.com/showthre...51#post3319951
For me i sell here 0.9190
My Trade http://www.forexfactory.com/showthre...88#post3344388
