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LOST 7K$ in one week, help!

  • #41
  • Dec 26, 2007 4:21pm Dec 26, 2007 4:21pm
MoneyTrader:

Maybe it would help if you would describe exactly what kind of help you're looking for. You haven't mentioned whether you've taken the suggestion of going to babypips.com--that would have been my first suggestion also. Have you done that, or at least looked around at it?

Also the suggestion to go thru some of the many threads on this forum...pick just about any of the longer "trading system" threads and you'll get a pretty good overview of any single system. Enough to get your feet wet anyway.

So, what else do you need? There's no help here except helping yourself. We'll answer any (ANY!) specific questions you have, but it has to be an actual question to get a useful answer.

Please don't give up. Why not use this thread to record your progress and your journey. If you persist, you'll find everything you need in these pages and from these good people.

Best of luck,

Ed
Indicators are to Price as Newspapers are to Bloomberg.
  • #42
  • Dec 26, 2007 5:04pm Dec 26, 2007 5:04pm
Quoting WTB
I totally agree. How can anyone be so damn dumb to believe that you can open an account without any experience and make money right away. It's ridiculous!
lol, so true, most people enter forex with dollar signs on there foreheads and nothing else.
If I Go Broke Trying Then I Will die happy.
  • #43
  • Dec 27, 2007 5:24am Dec 27, 2007 5:24am
Quoting Money Trader
man, I'm not rude at all, but if people keep telling me that I'm dumb, it is making me crazy! I know that I've made a big mistake, if I didn't understand this then I would not be here, so that's why I'm reacting like that. I KNOW THAT I MADE A BIG MISTAKE, I WANT YOU TO HELP ME, SOME PEOPLE ALREADY DO, BUT I DO NOT WANT TO HEAR FROM YOU SUCH WORDS LIKE "DUMB", "STUPID" ETC.... PLEASE.
yeah, you're quite right........anyway, try to find the most simple method here so you can quickly do it well and recover your losses......

don't feel down......becoz it seems that all the great traders suffered big losses early in their career so who knows, maybe in a few years we'll be reading books written by you.....
  • #44
  • Dec 27, 2007 6:09am Dec 27, 2007 6:09am
Hello Money Trader, Sorry to hear about your loss, and yes it happened to all of us at some point. The important thing is. have you learned from the experience or are you going to keep repeating the same mistakes. Your analysis was probably right. Your timing might have been out, you defininetly need to concentrate on position and risk management it really is how anyone can manage to stay alive in this market. Consistent profits will come in time. There are a wealth of free resources on the web for learning, but from my experience, this site has all the information you need. Of course you need to know what your looking for. There are a number of elements to any trading system and only one of them is a trading method that gets you into and out of the market. I started learning at babypips and then ended up here and I thank all members here for their posts because we can all learn from each other. Pick a few threads and read them - study them. Having a market view is one thing, trading it sucessfully is quite another. Try trading with the smallest lot sizes you can get untill you start making consistant profits. Trading with real money, even in small amounts, is far better than trading demo accounts. If you can take a pot of money and make it grow - consistently, then you are achieving something. It's a slow journey - no shortcuts. Take a look at the returns of professional funds. They also have bad periods, but not so bad that it wipes their account. Why is that? Risk Management.

Trade well!
Follow the money. Follow the money. Follow the money.
  • #45
  • Dec 27, 2007 9:40am Dec 27, 2007 9:40am
Quoting Money Trader
Could you help me to find information about support/resistance, price action and trend lines, please )) I cant understand how to examine graffs...all this lines..

A) Sorry to hear about your loss.

B) Did you go to BabyPips yet?

C) Did you know there is a search function on this site?

D) Do you realize how the above comment sounds?

Friend......Nobody here is giving you grief for the fun of it. What you just did is the equivalent of going to Las Vegas, sitting down at a Blackjack table, not even knowing how the game is played, and then losing everything.

Forex IS NOT EASY. It takes study and practice just like any other skill or profession takes to develop. Don't look for shortcuts. Don't expect others to hand you a "How to make 300K a year manual". I, like many others have studied for years and have spent hundreds or thousands of hours sitting in front of live charts to get the "feel" of the market's actions. Most here will help you but please don't blame the market and please be willing to spend countless hours studying before you commit "serious" money to the market. Learn to trade on demo.....practice real-time with mini or micro lots....learn money management.....THEN.....worry about funding an account with REAL money.

Good luck.....
  • #46
  • Dec 18, 2010 5:50am Dec 18, 2010 5:50am
...reading these posts now and smiling )

I'm not trading yet, basically just resumed my forex education a month ago(Its a shame I didnt start earlier), but I am realizing a HUGE difference now....and even started to configure my own system already )))) I can see how "silly" I was back then...despite that I could have won..., but probably I would have lose more later... that was a perfect lesson, very stimulating )))

anyway. we'll see how it works, will keep you updated.

Thanks for your comments, all of you! )
  • #47
  • Dec 18, 2010 8:29am Dec 18, 2010 8:29am
Quoting benssol
thanks for the money
  • #48
  • Dec 18, 2010 8:37am Dec 18, 2010 8:37am
Quoting Money Trader
I made this post not to ask you about my IQ level, but to ask you to help me. So if you don't like something and do not want to help me, than fuck off.
I shall not suffer the abuse, only because I have made a mistake, especially not with yours but with MY money!!!

sometimes to be kind u have to be cruel..forex my brother! is something which will test every part of yur being..u havent even got to the stage where u realise..the game is 99% mental

and yur thinking is very dangerous.."i was right but got in to early"..every1 is right in this way..this is what makes the game so fantastic..read and read, spend time in j16 thread, learn the ropes..give yourself a chance

success come to those that deserve it..without effort, focus and discipline coupled with some passion (not to make money) for wht u have got into..yur never going to make it!!!!!!!!!!

U have to learn to walk b4 u can run..start walking!!!!!!..start reading baby pips and j16, once u start u will realise u might as well given the money to a begger and get some blessing at least.

good luck!!!
  • #49
  • Dec 18, 2010 3:47pm Dec 18, 2010 3:47pm
Hi,

You can search FF for volume spread analysis. I hope it will be useful to you.

Thanks
  • #50
  • Dec 19, 2010 6:07pm Dec 19, 2010 6:07pm
Helloooo, are you reading or just replying to a random posts? It happened almost 3 years ago. Read what I've written... )
  • #51
  • Dec 19, 2010 9:54pm Dec 19, 2010 9:54pm
Quoting Money Trader
Helloooo, are you reading or just replying to a random posts? It happened almost 3 years ago. Read what I've written... )

so have you been demoing? If so how long?
Know when to hold em, Know when to fold em!
  • #52
  • Dec 20, 2010 2:15am Dec 20, 2010 2:15am
Not long, a month, but already got few fair strategies )
  • #53
  • Dec 20, 2010 5:19am Dec 20, 2010 5:19am
Tough Love helps more than it hurts. Sure some of us are making fun of your losses, its needed as you need to understand that trading isn't easy as it seems.

You need to put in the wrench time before you can drive you newly fixed strategy. That includes learning all the intricate detail of how the market moves, risk management, and typical broker techniques. It amazes me how new traders jump into trading without any education.

BTW, you've haven't told us how you loss your funds. Was that $7K loss in one trade? Are you intraday trading or trading longer term? What was your reasoning for against the market? Are you using indicators? etc etc etc

Please, tell us the story.
  • #54
  • Dec 20, 2010 5:44am Dec 20, 2010 5:44am
Quoting Money Trader
man, I'm not rude at all, but if people keep telling me that I'm dumb, it is making me crazy! I know that I've made a big mistake, if I didn't understand this then I would not be here, so that's why I'm reacting like that. I KNOW THAT I MADE A BIG MISTAKE, I WANT YOU TO HELP ME, SOME PEOPLE ALREADY DO, BUT I DO NOT WANT TO HEAR FROM YOU SUCH WORDS LIKE "DUMB", "STUPID" ETC.... PLEASE.
How much is left in your account?
  • #55
  • Dec 20, 2010 4:22pm Dec 20, 2010 4:22pm
I did loose it in 2 one week.. 3 years ago.. now (3 years later) started learning again and making a huge progress.. will keep you updated.
  • #56
  • Dec 20, 2010 4:34pm Dec 20, 2010 4:34pm
Quoting Money Trader
I ask to help to learn to analyze the market from what grow and quotations fall, I not absolutely understand all. But despite of my losses I was right as a result, simply too early bought.

Smaller positions. Stop trying to hit a grand slam!
  • #57
  • Dec 20, 2010 10:01pm Dec 20, 2010 10:01pm
Here's what I recommend.

First, note the attached image -- this is taken from an article
by Boris Schlossberg called "Trade Like a Dealer." The graphic
shows that you should consider scaling into a trade -- that is,
you don't just buy fifty lots at 1.5300; you buy 10 lots at 1.5300,
then you buy 10 more at 1.5250, then you buy 30 at 1.5225
and put your stop somewhere under 1.5200. You should not trust
the first price.

http://www.financial-spread-betting....aler_chart.jpg

The entire article is enclosed in Word format.

There are some others that I recommend, so that you can experiment
with different approaches and methodologies.
Attached Image
Attached File(s)
File Type: doc Trade Like Dealer[1].doc   101 KB | 1,534 downloads
File Type: pdf Boris Schlossberg - Stop Hunting with the Big Players (3 pgs).pdf   392 KB | 4,791 downloads
File Type: pdf SFO - tech analysis good for all occasions (sfomag) Nov 2006[1].pdf   923 KB | 1,204 downloads
HELL IS EMPTY, ALL THE DEVILS ARE HERE. -- Shakespeare
  • #58
  • Dec 22, 2010 3:15pm Dec 22, 2010 3:15pm
Blunderbuss nice reading material that is quite interesting.

Money Trader love the name but it seem you got a long way before your a real money trader.

You must learn so much before u actually get anywhere...and its all about emotion you will soon realise the enjoyment.

Man it takes a lot of hours of studying before you can even break even
Patience and peserverance determine the outcome in any aspect of life.
  • #59
  • Dec 23, 2010 2:41am Dec 23, 2010 2:41am
Quoting forexgold
Blunderbuss nice reading material that is quite interesting.

Money Trader love the name but it seem you got a long way before your a real money trader.

You must learn so much before u actually get anywhere...and its all about emotion you will soon realise the enjoyment.

Man it takes a lot of hours of studying before you can even break even
I already know! I will get my 7000 back in the next 2-3 months maximum. Will keep you updated!
  • #60
  • Dec 23, 2010 2:57am Dec 23, 2010 2:57am
Quoting Money Trader
I already know! I will get my 7000 back in the next 2-3 months maximum. Will keep you updated!

Oh Boy

You will fall to that hole time after time. I hope You will learn something.
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