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Had enough

  • #1
  • First Post: Jun 22, 2011 11:00am Jun 22, 2011 11:00am
Hello everyone at FF,
Today I have given up gambling. I’ve been trading Forex on and off for the past 5 years and have been very unsuccessful at it. Now I think about it, its all been a gamble. Anyways, yesterday I traded and lost $2000. In a single trade, I lost 40% of my account. Money I couldn’t lose, scared money. I basically got a loan for $5000 and started gambling with it. Bad idea I know. Last June, I lost $3200..


I have finally decided to get out of the losers mindset. The gambling mindset of not knowing what Im doing. Even though I use Price action, Support and Resistance, Trend lines, and MACD, I know my money management is way off. And I still don’t have my emotions under control. I take big risks and lose in big ways. Or eventually lose….
I have finally decided to join the J16 club. I know allot of members have started trading successfully after they joined, and if I ever plan on making my money back, it’s the only way to go.
  • #2
  • Jun 22, 2011 12:06pm Jun 22, 2011 12:06pm
"it's the only way to go"

Really? So only J16 traders are profitable? I beg to differ.
  • #3
  • Jun 22, 2011 12:42pm Jun 22, 2011 12:42pm
Quoting Xenaga03
Hello everyone at FF,
Today I have given up gambling. I’ve been trading Forex on and off for the past 5 years and have been very unsuccessful at it. Now I think about it, its all been a gamble. Anyways, yesterday I traded and lost $2000. In a single trade, I lost 40% of my account. Money I couldn’t lose, scared money. I basically got a loan for $5000 and started gambling with it. Bad idea I know. Last June, I lost $3200..


I have finally decided to get out of the losers mindset. The gambling mindset of not knowing what Im doing. Even though...

gl!
  • #4
  • Jun 22, 2011 2:37pm Jun 22, 2011 2:37pm
Quoting tdion
"it's the only way to go"

Really? So only J16 traders are profitable? I beg to differ.
I should rephrase, only way left for me. Giving it my last shot before calling quits.
  • #5
  • Jun 22, 2011 2:38pm Jun 22, 2011 2:38pm
Quoting PipPipPip
gl!
Thank you!
  • #6
  • Jun 22, 2011 3:21pm Jun 22, 2011 3:21pm
hey,

I think you have taken positive action. Feel good about your decision & remember it is all a mind/emotion game. Learning from a positive, structured & calm source will give you a good chance of getting you back on your feet (in time/great healer).

Now after saying all the encouragement - the telling it straight. What a dumb way of thinking to borrow money to gamble with!

Learning from mistakes is the best possible outcome - so go forth & try (sometimes by doing/trying less) to view things from a different point of view. Things will always look/feel different & an inner strength & calmness needs to be nurtured in order to flourish.

Positive future to you

Alien
  • #7
  • Jun 22, 2011 4:19pm Jun 22, 2011 4:19pm
Did you ever consider quiting while you are behind? You are already in debt... J16 doesn't guarantee you profit. I put myself in your shoes... how much more painful will additional debt be if you lose it again this time?
  • #8
  • Jun 22, 2011 6:24pm Jun 22, 2011 6:24pm
Quoting tdion
Did you ever consider quiting while you are behind? You are already in debt... J16 doesn't guarantee you profit. I put myself in your shoes... how much more painful will additional debt be if you lose it again this time?
There is hope as long as a person doesn't quit. The big question isn't whether to quit or not, but whether he can 'live without the hope' if this is his only plan to escape the rat race.

Most forum users are here for escapism. This is the one place where they feel as if they have some control, some chance, some way to make their lives what they always wanted them to be.

It's quite sad. Is this what I'm doing? It's so sad.
Living the adventure in my head.
  • #9
  • Jun 22, 2011 6:55pm Jun 22, 2011 6:55pm
My only point was, is he trading what he can't afford to lose?

Quoting Leonlorenzo
There is hope as long as a person doesn't quit. The big question isn't whether to quit or not, but whether he can 'live without the hope' if this is his only plan to escape the rat race.

Most forum users are here for escapism. This is the one place where they feel as if they have some control, some chance, some way to make their lives what they always wanted them to be.

It's quite sad. Is this what I'm doing? It's so sad.
  • #10
  • Jun 22, 2011 7:09pm Jun 22, 2011 7:09pm
Quoting tdion
My only point was, is he trading what he can't afford to lose?
If his creditor is smart, then the OP can afford to lose the money.
Living the adventure in my head.
  • #11
  • Last Post: Jun 23, 2011 12:20am Jun 23, 2011 12:20am
Quoting tdion
Did you ever consider quiting while you are behind? You are already in debt... J16 doesn't guarantee you profit. I put myself in your shoes... how much more painful will additional debt be if you lose it again this time?
Thanks for the advice but I dont plan on trading with debt again, and quitting was never an option I didnt quit 5 years ago I dont plan on it now.
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