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biggest frustration or obstacle you have faced so far?

  • #1
  • First Post: Jun 24, 2010 10:27pm Jun 24, 2010 10:27pm
I was wondering if anyone would like to share what is your biggest challenge about Forex trading. What is the biggest frustration or obstacle you have had so far in making this work as a real business.
  • #2
  • Jun 25, 2010 12:43am Jun 25, 2010 12:43am
Undercapitalization.
Either because of the broker's minimum lot size available or in itself due to my strategy being low risk/low expected return.
  • #3
  • Jun 27, 2010 5:18pm Jun 27, 2010 5:18pm
My biggest frustration was testing EA's/strategies and indicators and see how they fail by being profitless especially those that were sold with big promises.
The more experience the closer to the reality
  • #4
  • Jun 27, 2010 5:21pm Jun 27, 2010 5:21pm
My biggest frustration when I first started was myself. I always thought of myself as patient. I soon realized that I wasn't as patient as I thought I was.
  • #5
  • Jun 27, 2010 5:49pm Jun 27, 2010 5:49pm
Quoting arcane83
I was wondering if anyone would like to share what is your biggest challenge about Forex trading. What is the biggest frustration or obstacle you have had so far in making this work as a real business.

the biggest is to pay for some thing that is for free.

like indicators or system.

greet you,

Yoenes
  • #6
  • Jun 27, 2010 7:58pm Jun 27, 2010 7:58pm
For me is the lack of starting funds. There is no micro-lot option on my trading account. That makes it hard to practice the "max 2% risk" MM. With low starting fund, the SL that I can afford will be so little that the trade would get stopped out most of the time. If I allow a more reasonable SL gap, then it no longer obeys the max 2% risk MM rule.
  • #7
  • Jun 28, 2010 8:51pm Jun 28, 2010 8:51pm
For me biggest frustation is when I can't handle my own attitude.

That's frickin' frustrated me much!!
  • #8
  • Jun 28, 2010 9:03pm Jun 28, 2010 9:03pm
there is a proverb that only free stuff is cheese in mouse trap.
Quoting Yoenes
the biggest is to pay for some thing that is for free.

like indicators or system.

greet you,

Yoenes
The more experience the closer to the reality
  • #9
  • Jun 28, 2010 9:57pm Jun 28, 2010 9:57pm
undercapitalization & patience.
i'm undercap'ed & impatient.

recent obstacle was severe malnutrition (which i experienced for +/- 2-4yrs {it was a self-challenge & 'experiment-slash-preparation' for a future challenge'} .... im currently in the 'recuperation stage').
  • #10
  • Jun 28, 2010 10:03pm Jun 28, 2010 10:03pm
Quoting texxen
For me is the lack of starting funds. There is no micro-lot option on my trading account....
then the solution is to move to a broker that offers that option
  • #11
  • Jun 28, 2010 10:10pm Jun 28, 2010 10:10pm
Quoting Ivan
there is a proverb that only free stuff is cheese in mouse trap.
,

hey dan..... there is another proverb, a helping hand makes a happy heart....

//----
//----

my biggest obstacle has and will likely always be my tolerance of losses....

rather than cut losses short, i'll take the "let it ride and see how it will turns out" approach......

large precentage of the time it still ends in a loss with the additional cost of wasting valuable time......h
to trade and code, keep both simple... no call to impress....h
  • #12
  • Jun 28, 2010 11:17pm Jun 28, 2010 11:17pm
Understanding that there is no sure thing, that drawdowns as a result of losses will happen over and over and its getting through the tough times, sticking to your plan that will see new equity highs is a key to being successful. All to often we change our approach because something has stopped working a few times only to realise that had we stuck to our guns the market conditions had started to favour the original plan again.

Once you can handle the losses and you understand the long term expectancy of your approach you can start to be profitable long term.

The other ones mentioned were patience, which the above requires large amounts of early on, and capital. For those looking to take things seriously then you need to have a serious amount of capital. This will differ but it needs to be enough that if you stray from your plan (gamble) and loose then it must hurt in order for a lesson to be learnt...

Razor
  • #13
  • Jun 29, 2010 2:47am Jun 29, 2010 2:47am
My biggest frustration is watching my stop of 100 pips get hit every time,or hit it and rebound in the other direction.
  • #14
  • Jun 29, 2010 3:47am Jun 29, 2010 3:47am
Quoting matt1
My biggest frustration is watching my stop of 100 pips get hit every time,or hit it and rebound in the other direction.
Makes two of us... lol
  • #15
  • Jun 29, 2010 4:06am Jun 29, 2010 4:06am
undercapitalization is a big one, you just can't start with 1-2000 Dollars and expect to make enough to live by if you're following the 2% risk rule
  • #16
  • Jun 29, 2010 4:44am Jun 29, 2010 4:44am
Quoting Aneurysm
undercapitalization is a big one, you just can't start with 1-2000 Dollars and expect to make enough to live by if you're following the 2% risk rule
Well then mate, in my opinion, actually you can't say can't for anything. There's always possibility for outliers exist.

Undercapitalization ain't the problem here, I guess, in order to make enough. (Furthermore, 'enough' itself is subjective right?).
  • #17
  • Jun 29, 2010 4:53am Jun 29, 2010 4:53am
Quoting utjuph
Well then mate, in my opinion, actually you can't say can't for anything. There's always possibility for outliers exist.

Undercapitalization ain't the problem here, I guess, in order to make enough. (Furthermore, 'enough' itself is subjective right?).

with enough I mean enough to start making a decent living as a full time trader.

and if you're only taking 2% risks on your capital that's like 40 dollars a trade in a 2000 dollars account, you'll end up overtrading if you want to make any kind of decent money
  • #18
  • Jun 29, 2010 4:59am Jun 29, 2010 4:59am
Quoting Aneurysm
with enough I mean enough to start making a decent living as a full time trader.

and if you're only taking 2% risks on your capital that's like 40 dollars a trade in a 2000 dollars account, you'll end up overtrading if you want to make any kind of decent money
And by doing 100 winning trades, you'll end up making 4000 right? 100% return. But that's assuming you have 100% rate of winning which is almost impossible to any1 to make. But then again, with lower rate, you still have much mate.

Just do the math correctly will help you ,I guess.
  • #19
  • Jun 29, 2010 5:01am Jun 29, 2010 5:01am
hayseed,
From everything I've read on trading, in of itself, tolerance of losses is one of the tenants of being a good trader - i.e., be willing to accept the losers with the winners.

Quoting hayseed
,

hey dan..... there is another proverb, a helping hand makes a happy heart....

//----
//----

my biggest obstacle has and will likely always be my tolerance of losses....

rather than cut losses short, i'll take the "let it ride and see how it will turns out" approach......

large precentage of the time it still ends in a loss with the additional cost of wasting valuable time......h
  • #20
  • Jun 29, 2010 5:21am Jun 29, 2010 5:21am
Quoting doblece
Undercapitalization.
Lol, I think you speak for most traders!
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