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Cable Update (GBPUSD)

  • #261,541
  • Oct 22, 2010 11:26am Oct 22, 2010 11:26am
Quoting Magix
Welcome back Clogs!

I am taking a break from the rubbish here, but felt the need to answer this guy's post here.

Am off again.

Good trading guys/girls.
  • #261,542
  • Oct 22, 2010 11:26am Oct 22, 2010 11:26am
The issue is that losing is part of the deal, I lost on wednesday, but i have made it up now, we need to control our self,

save that remaining 120 dollars, stop trading for a while, forex is not a get rich quick avenue... catch u later

Quoting biodunola07
I have $120 equity left in my account.Can I make something out of this ?Thanks for you advice
  • #261,543
  • Oct 22, 2010 11:29am Oct 22, 2010 11:29am
Quoting biodunola07
Thanks for your concern and advice.I will go away from the market now to have painful weekend week end
I didn't say have a painful weekend. I said enjoy your weekend.

Shit man, this ain't the end of all life, look at it as a new beginning.

In life, the journey of a thousand miles, it is not just the first 2 steps that are important, but so is each step after.

Lick your wounds, put a smile on your face, enjoy life for what it has to offer, not about the riches you dream of.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #261,544
  • Oct 22, 2010 11:30am Oct 22, 2010 11:30am
Quoting Bydyke
I want to believe you are conversant with Money Management. The lot size you apply per trade matters a lot. A loss of $500 on a single day is quite a lot.

That said, why don't you call up all the posts of CLOGGIE on this forum and take time to digest them. It will take you time read them all but thereafter you'll be talking more of greens than reds
To the original poster, this is BAD advice, ignore it. re your current situation..not because cloggie is or isn't a good trader (I have no idea like he has no idea about me, we are anonymous spirits on a an open public forum like the rest of the 'traders' here, and not beacuse his posts don't contain good advice/value, but because your position is so impaired that probably nothing will rescue your current position...this said there is very good stuff on this forum, but it is up to you to decide what it is and this is best done when your very financial existance doesn't depend on it.

G/L
ex member
  • #261,545
  • Oct 22, 2010 11:30am Oct 22, 2010 11:30am
Quoting cloggie
Take the 120 dollars out and take your wife/girlfriend/boyfriend/husband/mother out for dinner and close down your account.

Good luck and chin up.


Is this you, Cloggs? Where have you been?

Curiously, I just adiviced a member to read your posts. I turned the page thereafter and there you are starring at me on the face with your post.

Did I miss you? You bet
  • #261,546
  • Oct 22, 2010 11:31am Oct 22, 2010 11:31am
Quoting biodunola07
Thanks for your concern and advice.I will go away from the market now to have painful weekend week end

Don't have a painful weekend, just see it as a cost of learning and doing business. Every single one of us have had a losing streak and the ones who overcame that psychologically have succeeded in this business.

Trading is a mindgame as much as anything else, there are literally 1,000's of ways to make money in this and a person with the right mindset can make any system profitable.

Take the stress out of the equation and pick yourself up and start again. You have been exposed to FX for years and I guarantee you that you have picked up enough along the way to make it in this business, you just need to sort yourself out first.

Find another source of income for now and start again.
  • #261,547
  • Oct 22, 2010 11:33am Oct 22, 2010 11:33am
Quoting bbmac
To the original poster, this is BAD advice, ignore it. re your current situation..not because cloggie is or isn't a good trader (I have no idea like he has no idea about me, we are anonymous spirits on a an open public forum like the rest of the 'traders' here, and not beacuse his posts don't contain good advice/value, but because your position is so impaired that probably nothing will rescue your current position...this said there is very good stuff on this forum, but it is up to you to decide what it is and this is best done when your very financial...

bbmac hits the nail on the head here. You need to find a way of trading that suits your personality traits. I have friends in this business with very succesful trading strategies and we get together at times to shoot the breeze and I can't make money with it to safe my life, it just doesn't suit me.

There is no wrong or right way to trade, there is only your way.

Don't expect overnight success in this business, that only happens to the few. For most people it is a tough road of dedication, hard work and setbacks, the persistent will overcome.

I am off again, see y'all.
  • #261,548
  • Oct 22, 2010 11:35am Oct 22, 2010 11:35am
hi cloggie! nice to have you back i missed your comments how u doing?
  • #261,549
  • Oct 22, 2010 11:36am Oct 22, 2010 11:36am
Quoting uncletrumpet
How are u? IM me so that we talk
I have sent you private message.Please read and help me.
With patience and discipline,you move beyond the sky
  • #261,550
  • Oct 22, 2010 11:38am Oct 22, 2010 11:38am
Quoting cloggie
I am taking a break from the rubbish here, but felt the need to answer this guy's post here.

Am off again.

Good trading guys/girls.
Please keep posting, I have learned so much from your posts. Even though there is a lot of BS here you have truly made a difference in my trading.

Thanks to you I have come from a consistant loser for almost a year to making small but steady gains. When you talked about the boxes and reading PA, dumping the indi's, that was the ah hah! moment for me and I can't thank you enough. The indepth knowledge of money flow you shared with us was also priceless and really opened my eyes to trying to look at the bigger picture.

If you don't feel like posting I wish you the best of luck and hope to read more from you in the future some time.

sincerely,
Mike
  • #261,551
  • Oct 22, 2010 11:51am Oct 22, 2010 11:51am
Quoting biodunola07
I lost $500 to GU in the trade I placed since yesterday.I am not a newbie in Forex.I have been trading for the past 6 years,But things have been very bad.My finances has moved from bad to worse.I have exposed my family to untold hardship.Is retail forex trading worth it? Is possible to depend on this for a living.Sincere answer will be appreciated.I am heavily indebted because of FOREX
Not something I wanted to read at the end of a trading week but shit happens bro. Whatever happens take it as a forex lesson and try to go back to basics and come back stronger. You have some excellent advice from Magix, malc, bbmac Cloggie etc please re-read their comments and try to act on them.
You've got to be IN IT to WIN IT!
  • #261,552
  • Oct 22, 2010 11:55am Oct 22, 2010 11:55am
Quoting uncletrumpet
The issue is that losing is part of the deal, I lost on wednesday, but i have made it up now, we need to control our self,

save that remaining 120 dollars, stop trading for a while, forex is not a get rich quick avenue... catch u later
I have sent you a private message again.Please respond to it
With patience and discipline,you move beyond the sky
  • #261,553
  • Oct 22, 2010 12:05pm Oct 22, 2010 12:05pm
Quoting cloggie
I am taking a break from the rubbish here, but felt the need to answer this guy's post here.

Am off again.

Good trading guys/girls.
Mr. Cloggie!!!!! So good to see you post ... hope all is well with you and yours and may your trading be in the green.

You trading today? (probably a silly question but hey it is freaky Friday)
  • #261,554
  • Oct 22, 2010 12:13pm Oct 22, 2010 12:13pm
Quoting biodunola07
Thanks for your reply.I am not feeling alright because of the loss.In fact I curse the day I first heard about the FOREX TRADING
sorry mate i am a fellow naija guy. hope you dont mind my asking the size of the account that you allowed to lose $500. thats a lot and thats the kind of loss that will have you shaking and unsteady enough to make any sensible trade for a while. do not see a forex as a place where small money makes big money. yes you can make money in forex but you must respect the rules or you will join the beaten pack. equity management is very important. reduce you lot size to give your trade adequate room and keep you away from stop hunter. if you misread the trend, get out cut your losses short and try joining the trend. in the end its best. learn to protect profits too so you dont lose all to the market shortly after making some. break up your trade and take 20pips on one then let the other ride while moving in ur stop. if you lose that one its offset with the little gain you booked. this is the best i can offer for now as i just started trading 6 months ago. good luck!
  • #261,555
  • Oct 22, 2010 12:23pm Oct 22, 2010 12:23pm
Quoting cloggie
Take the 120 dollars out and take your wife/girlfriend/boyfriend/husband/mother out for dinner and close down your account.

Next week start fresh with a demo account. You will never be succesful with the state of mind you are in, the urge to keep losing trades open because you depend on it financially is too great and you will never make it in this business with all those worries on your mind.

Start afresh with a demo account of a small size and double it, then double it again, then write down your entire trading plan and only then open a live...
very well said cloggie....and thank God you handled the chap with kid gloves...
  • #261,556
  • Oct 22, 2010 12:48pm Oct 22, 2010 12:48pm
om out of here too boring , closing shorts on gu and dow , c u next week guys.
  • #261,557
  • Oct 22, 2010 12:52pm Oct 22, 2010 12:52pm
Quoting biodunola07
I lost $500 to GU in the trade I placed since yesterday.I am not a newbie in Forex.I have been trading for the past 6 years,But things have been very bad.My finances has moved from bad to worse.I have exposed my family to untold hardship.Is retail forex trading worth it? Is possible to depend on this for a living.Sincere answer will be appreciated.I am heavily indebted because of FOREX
what?6 years....in trading forex
  • #261,558
  • Oct 22, 2010 12:53pm Oct 22, 2010 12:53pm
i think u use big margin bro..

try use not more then 10% of your equity then tight SL..

so before enter post u need to learn best place to enter post ...

6 years u play did u go or study with someone pro on trading? or u just learn from internet?

so my sudgestion stop play real account then use demo account first with 120 usd equity...and try in 1 week if u can doubel that amount ..

remember use not more then 10% if not its will be big prob to u...and try to tight sl..don`t play if u in bad mood coz u can`t control market but market control u
  • #261,559
  • Oct 22, 2010 12:58pm Oct 22, 2010 12:58pm
Hello ,

I have a two question if anyone can help me:

1. Could we execute EA on multiterminal-Accounts ?

2. I am not sure how many platforms i can open on one computer, i have 4 EA on any mt4 platform because of this i have to use 1 account on 1 mt4 platform. Can you tell me how good a computer do I need to open on it 25 mt4 platforms?
I have excellent internet upload 512 and download 512 this is business link.
  • #261,560
  • Oct 22, 2010 1:12pm Oct 22, 2010 1:12pm
Quoting newnew
Hello ,

I have a two question if anyone can help me:

1. Could we execute EA on multiterminal-Accounts ?

2. I am not sure how many platforms i can open on one computer, i have 4 EA on any mt4 platform because of this i have to use 1 account on 1 mt4 platform. Can you tell me how good a computer do I need to open on it 25 mt4 platforms?
I have excellent internet upload 512 and download 512 this is business link.
You want to open 4x EA on 25 MT4 platforms?
With a 512kb up and down?

Seriously?
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
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