I still feel like a POS... | Forex Factory

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I still feel like a POS...

  • #1
  • First Post: Edited Jul 19, 2012 9:59pm Nov 14, 2011 2:34am | Edited Jul 19, 2012 9:59pm
hi guys..
i need some words of wisdome.. or some words of motivation

After learning for 3 years +
i still feel myself like a piece of s___


After trying many system
And even develop my own system

everything still same from the begining,
the market as if know where i am,
the moment i enter long, it will went down
to make things worse, the market will laugh at me, come back at the place i long and make it as a resistance ( no prior resistance at that area for past year eventhough)
vice versa for short

i tried various methods.. nothing seems working
the only guarantee is .. my entry will make the price turn right away
(i have help my fren make a few bucks in that way, ask them to trade exactly opposite of my trade)



And money management / RR i feel is POS too
if i risk 1% per trade, i will loose 1% , in 100 times until my account is drained ( btw i still using demo, after all these year, i cant even make a few bucks , or fraction of pips)

And risk rewards is POS too... someone say risk 1 and target 4x the risk, there is no percentage of the price will reach some target too...


And all system is just useless...
for me..

"trend is your friend" is nothing because trend (no matter in which TF) will turn immediately the moment i enter

" buying dips and selling rally" is nothing too cause price will reverse the moment i enter also



I feel so useless...

All i wanted is to make a few bucks so i can buy some snack or cookies for myself ..



I need some motivation speech or something


After wasting so much time learning..
if i giv up than the time is truly wasted...


i am so confused
  • #2
  • Nov 14, 2011 2:38am Nov 14, 2011 2:38am
And i know the Holy Grail exit
I know it is within each of our heart (or mind), not out there
It is regarding our mentality, psychology and t hinking

But i just can't get hold of it...


And each time reading books give me some hope.. new way of looking at market.. new system..
but it all end up the same, no matter how, the moment i enter , the place will be the market turning point and future S/R
  • #3
  • Nov 14, 2011 3:13am Nov 14, 2011 3:13am
You are probably trading with indicators. Try Wmn's thread "Trading with Deadly Accuracy" Learn how to trade using Support and Resistance and Trendlines. Your luck will change overnight.

Johnny
  • #4
  • Nov 14, 2011 3:53am Nov 14, 2011 3:53am
Quoting sam1741
hi guys..
i need some words of wisdome.. or some words of motivation

After learning for 3 years +
i still feel myself like a piece of s___


After trying many system
And even develop my own system

everything still same from the begining,
the market as if know where i am,
the moment i enter long, it will went down
to make things worse, the market will laugh at me, come back at the place i long and make it as a resistance ( no prior resistance at that area for past year eventhough)
vice versa for short

i tried various methods.. nothing seems...

Help is there my friend. come over to Ken's B.S Trading thread.
  • #5
  • Nov 14, 2011 4:00am Nov 14, 2011 4:00am
Quoting sam1741
All i wanted is to make a few bucks so i can buy some snack or cookies for myself ..
It's really not worth the effort if you just wanna buy Snacks and cookies. A part time job or something can give you that much.
.
  • #6
  • Nov 14, 2011 4:04am Nov 14, 2011 4:04am
Quoting nasir.khan
It's really not worth the effort if you just wanna buy Snacks and cookies. A part time job or something can give you that much.
.
"snacks and cookies" = snatch and special brownies.
Congratulations ScalaFX for coming out of the closet!
  • #7
  • Nov 14, 2011 4:21am Nov 14, 2011 4:21am
Quoting sam1741
hi guys..
i need some words of wisdome.. or some words of motivation

After learning for 3 years +
i still feel myself like a piece of s___


After trying many system
And even develop my own system

everything still same from the begining,
the market as if know where i am,
the moment i enter long, it will went down
to make things worse, the market will laugh at me, come back at the place i long and make it as a resistance ( no prior resistance at that area for past year eventhough)
vice versa for short

i tried various methods.. nothing seems...
i felt that when i died my 1st live account for 1 day but u need to know that if you die know ur forex journey is oveer and u just got into that 95% loser group. does that feel good? perhaps those 3 years were not taken well enough. i was on tht indicator run when i started, and truthfully i would recommend price action for u. its the basis for all movements before and after. yup, like the above try read WMD's thread, read Trade Price sho's pdf's and videos, read Romancing the Price by kennyz, read Price is everything by Redsword, Kenneth lee's thread of supply demand, read James 16's thread, read Mr. Trend's thread and read mine if u can. im not asking u to read all, just skim read, see what YOU like and maybe as a base you can learn from there. im not pro yet, still far, but you need to know what you want. is forex really what you want to nail and own? if it is not then get out. there is no need for non-motivated people here. i know it really sucks to be blown, but only heroes step up and are made in times of calamity. to fail is a chance to get up, remember that first i think most important is to know oneself. you need to know what YOU need to succeed in the market. generally that is

 

  1. Good trade management
  2. Good Money management
  3. Loss management
  4. Risk management
  5. A solid mindset, one tht can be disciplined, non-greedy, adn non fearful. a killing machine, buying and selling with no fear because of hsi confidence in his technique.
  6. Speaking of which, technique. are you a scalper, or a swing trader? or a position trader? now to be one of those, what do YOU need to achieve that style? or are you hybrid? a mix of them?

through time style will build naturally, and become attached to you. i see that all winners are actuallly 'hunting' losers' stops and the market is a deadly no-emotion place where the losers get punished. do you want to get punsihed? or do u want to be the punisher? yes it sounds mean but thats how it works. zero-sum.


this is all i can say to you.
stars are never to high to reach.

Know Yourself, know price, you got nothing to fear.

Have I got something on my face, SOLDIER?
  • #8
  • Nov 14, 2011 4:28am Nov 14, 2011 4:28am
buma , you seem to have done well. Given that you have time on your side, you will become a pro before age 30. I just started....

Anyways don't let time pass you. use it wisely my friend.
  • #9
  • Nov 14, 2011 4:56am Nov 14, 2011 4:56am
Quoting zamfir
buma , you seem to have done well. Given that you have time on your side, you will become a pro before age 30. I just started....

Anyways don't let time pass you. use it wisely my friend.
age does not gauge wisdom, ability and skill, and potential.

even if ure 50 that shouldnt stop you from continuing.

you will make it only if YOU will it.

i wish you all the best

regards

Buma
Have I got something on my face, SOLDIER?
  • #10
  • Nov 14, 2011 4:58am Nov 14, 2011 4:58am
Quoting bumapatria
age does not gauge wisdom, ability and skill, and potential.

even if ure 50 that shouldnt stop you from continuing.

you will make it only if YOU will it.

i wish you all the best

regards

Buma
Correct. But you forget the most important thing called - Time, which you have more than any of us. if you start trading @ 50 , by the time you start making money , you would be dead.. Funny coz its true.

Anyways , I wish you the best too..
  • #11
  • Nov 14, 2011 5:57am Nov 14, 2011 5:57am
at first.. there is lots of indicators in my chart...

than i started to take out one by one

then i try trade the new..

then i take out more indicators

than my chart is blank.. i use fib and e-wave

than i take out fib and e-wave too,

Than i try to trade the pattern, and candle pattern

than i insert one MA in my chart

up to now my chart is blank..

than i do something simple.. MA direction, trend line break

than i try multiple timeframe..

than i try following trend direction comparing one currencies against many other to see the strength

all also not work out ..


i have been trying to trade naked for some times
but also not work out for me
  • #12
  • Nov 14, 2011 6:02am Nov 14, 2011 6:02am
Quoting JohnnyBSmart
You are probably trading with indicators. Try Wmn's thread "Trading with Deadly Accuracy" Learn how to trade using Support and Resistance and Trendlines. Your luck will change overnight.

Johnny
Thanks Johnny...

I have taken all indicators out from my chart for a year plus already

have tried S/R, trend line trading..
but no success for me

And now i loose my confidence

I see everywhere also S/R
  • #13
  • Nov 14, 2011 6:03am Nov 14, 2011 6:03am
Quoting nasir.khan
It's really not worth the effort if you just wanna buy Snacks and cookies. A part time job or something can give you that much.
.
hmm.. my figure of expression
I know there is no quick money
I just wish can start earning a bit by a bit
build up my capital and confidence..
(in the same time buy myself something cheap n nice)

But up till now i cant even do well in demo
  • #14
  • Nov 14, 2011 6:06am Nov 14, 2011 6:06am
Sam i feel your pain. you are not the first one to go through this.

I remember , i used to struggle and jump system almost every week. I have traded all fancy indicators and EAs. I have tried almost all systems. Things changed when i realised i was wrong in my fundamentals. So focus on getting your fundamentals correct.I would suggest start from Supply and demand.

I have failed for almost 8 months in a row. but now i m seeing some light...

Do not worry my friend...Keep trying...
  • #15
  • Nov 14, 2011 6:07am Nov 14, 2011 6:07am
Quoting bumapatria
i felt that when i died my 1st live account for 1 day but u need to know that if you die know ur forex journey is oveer and u just got into that 95% loser group. does that feel good? perhaps those 3 years were not taken well enough. i was on tht indicator run when i started, and truthfully i would recommend price action for u. its the basis for all movements before and after. yup, like the above try read WMD's thread,[b] read Trade Price sho's pdf's and videos, read Romancing the Price by kennyz, read Price is everything by Redsword, Kenneth lee's...


Thanks Buma... I will definately put those in my read-list..


I think of myself as day trader.. exit the trade by end of day
and maybe if the trend is strong i will hold it for couple of day

i used to try scalping..
but i found out i not have so much energy and time to do it..

i tried long term trading before
but the drawdown is immense.. .. not good for small capital
  • #16
  • Nov 14, 2011 6:09am Nov 14, 2011 6:09am
Quoting zamfir
buma , you seem to have done well. Given that you have time on your side, you will become a pro before age 30. I just started....

Anyways don't let time pass you. use it wisely my friend.


THis is very pressure for me

i am near 30
i have no career
i wish to become a trader since few years ago
so i spend all my time reading and trying on demo..
and now i really near 30
i have nothing
i cannot give fancy stuff to my parents
I have a day job that pay very less (I choose my job because it give me a lil bit extra time to study and also trading during work)

sigh
  • #17
  • Nov 14, 2011 6:12am Nov 14, 2011 6:12am
Quoting zamfir
Sam i feel your pain. you are not the first one to go through this.

I remember , i used to struggle and jump system almost every week. I have traded all fancy indicators and EAs. I have tried almost all systems. Things changed when i realised i was wrong in my fundamentals. So focus on getting your fundamentals correct.I would suggest start from Supply and demand.

I have failed for almost 8 months in a row. but now i m seeing some light...

Do not worry my friend...Keep trying...

thanks Zamfir...
by fundamentals... do u mean the news?
  • #18
  • Nov 14, 2011 6:18am Nov 14, 2011 6:18am
Quoting sam1741
thanks Zamfir...
by fundamentals... do u mean the news?
No, sorry for the confusion. I mean the basics of TA.

1. Supply/Demand
2. Trendlines
3. Basic Fibs


I think if you just stick to these and practice for few months, you should do good. if you fail , we have enough people to help you here. More importantly participate in a journal or keep one. Analyse to death all your loses and learn.

Remember, in every loss there is a lesson. Imagine how many lessons you can learn when you are starting out..

Also I suggest to trade WITHOUT any indicators. Indicators eventually fail and only help you make bad decisions. Stay away from them. Trendline and fibs are fine, but only for confirmation , nothing more.

Only way to learn forex is by making mistakes, there is no other way.

Best of luck!!.
  • #19
  • Nov 14, 2011 6:21am Nov 14, 2011 6:21am
Quoting zamfir
No, sorry for the confusion. I mean the basics of TA.

1. Supply/Demand
2. Trendlines
3. Basic Fibs


I think if you just stick to these and practice for few months, you should do good. if you fail , we have enough people to help you here. More importantly participate in a journal or keep one. Analyse to death all your loses and learn.

Remember, in every loss there is a lesson. Imagine how many lessons you can learn when you are starting out..

Also I suggest to trade WITHOUT any indicators. Indicators eventually fail and only help you...

THanks..

i have chart without indicators for years already..
I have learn that they are lagging
i used to learn how their value are calculated.. and i know is no much use in trading



these few years i have learn many ways that not work
so far i have not yet found a way that work
i guess i still have to continue learning
  • #20
  • Nov 14, 2011 6:23am Nov 14, 2011 6:23am
Well , my suggestion is first go to fxstreet and search for Sam Seiden's webinars. Go through all of them...you shall find a way..
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