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Does anyone feels the same way? Need Advice....

  • #1
  • First Post: Dec 14, 2011 6:46am Dec 14, 2011 6:46am
Hi guys, does anyone feels trading sux at times?

Especially as most trades I bought or sold goes the reverse direction with a loss?

And so, I try to be smart and trade the opposite "losing" direction and hoping my loss will become profits, but HOW STRANGE.....it goes the reverse direction which is my actual entry!

I felt very disappointed, depressed & hopeless and wanted to give up trading but at the same time I hope I'm able to earn a living from trading as this allows me the the weekends and time I needed to be at home for my family. Trading is my last and always wanted option of career as I know my family would bound to have a hard time for life if I go get a job with a salary of us$500 - us$1000 per month as I do not have a high qualification. How I hope I can succeed in forex trading and make my wife proud, especially to make my parents proud and enjoy a good life before they leave this world.

Gee....shall I give up or does anyone of you feel the same way before and persist and have a breakthrough? Thanks.
  • #2
  • Dec 14, 2011 7:41am Dec 14, 2011 7:41am
i think the first thing is the pressure your putting on yourself by saying this is your last chance to succeed in life.

2nd thing is you dont have a system or a plan, opening and closing trades based on current direction is always going to result in losses. unless your lucky enough to pick the top and bottom of a current move.

3rd being depressed and disapointed is only going to make you a worse trader. you have to accept that sometimes you will lose......everyone loses. just make sure you win big and lose small and your on the way...

4th you have the goal and aim (to make people proud) this is what you should use to drive you forward and give you the determination to succeed. the end result is after all your hard work, determination and desire.....you become profitable and then make the people around you proud.

lose sight of your goals and aims and you will not make it as a trader. all the work you do know should be geared towards making those people proud.

your not approaching this in a positive way, your thinking so negatively it is making you enter bad trades......

but i think the main thing is you need a system, stick to it, evaluate it, see what your doing well and what your doing badly.....adapt the system to suit you and you personality/emotions and your on the way.....

then you can justify your losses as trades you should have taken as its what the system dictates.....if you lose its ok cus the system told you to enter and thats whats you did.

im no way profitable or successful and ive felt like you before....lost! but i dont give up and slowly i have found a system that i think works, i am testing it and trying to ammend it to make it more profitable.....i do feel like i understand this game alot more now and thats why i'll tell you not to give up!

but you 100% need a system!!

good luck mate
  • #3
  • Dec 14, 2011 8:35am Dec 14, 2011 8:35am
I feel the same way. It seems every time I place a trade on my micro, I'm immediately down 5 pips in under 5 min.
  • #4
  • Dec 14, 2011 8:51am Dec 14, 2011 8:51am
Quoting dvc11
And so, I try to be smart and trade the opposite "losing" direction and hoping my loss will become profits, but HOW STRANGE.....it goes the reverse direction which is my actual entry!
This shows that you don't have a trading method.

My advice would be to try and specialise in something. Rather them jump from method to method, find something that makes sense to you, just one trading setup that makes sense. Test it and if it shows promise test it some more and perfect it. Find out when and why your setup tends to be successful or not successful. Don't try and filter out all losing trades, just keep working on increasing the probabilities of your setup. (eg, is it alot more successful during ranging markets or trending markets? how can you filter market phase to know when to stay out?).

Become a specialist at one thing. It could be a repeating pattern like pinbars or pullbacks with the trend or a reaction to a reccuring fundamental event.

You need find to something that makes sense to you though and understand why it works and how it provides you an edge. That will probably require you to learn about the microstructure of the market.
  • #5
  • Dec 14, 2011 9:01am Dec 14, 2011 9:01am
Quoting twiliteecho
I feel the same way. It seems every time I place a trade on my micro, I'm immediately down 5 pips in under 5 min.

lol

this is your first post so im not sure if this is a joke or not?

your in bigger trouble than the OP if your post is genuine!
  • #6
  • Dec 14, 2011 9:31am Dec 14, 2011 9:31am
Hey guys, thanks for sharing. Well...I just hope that I'm not deceiving myself and believing in an impossible fantasy and wasted my time of years then not able to succeed...if it happens then I would really have let my wife and parents down.

Anyway, all the best and success to all of us... Cheers! Let's relax and enjoy the day with our loved ones.
  • #7
  • Dec 14, 2011 10:11am Dec 14, 2011 10:11am
Quoting dvc11
Hi guys, does anyone feels trading sux at times?

Especially as most trades I bought or sold goes the reverse direction with a loss?

And so, I try to be smart and trade the opposite "losing" direction and hoping my loss will become profits, but HOW STRANGE.....it goes the reverse direction which is my actual entry!

I felt very disappointed, depressed & hopeless and wanted to give up trading but at the same time I hope I'm able to earn a living from trading as this allows me the the weekends and time I needed to be at home for my family....
You should persist! It's just the stage everyone should face in trading, go with it...let it flow, I'm sure you can survive! Everybody succeeded in trading should have been passed this stage, including myself, you are not alone!
  • #8
  • Dec 14, 2011 10:30am Dec 14, 2011 10:30am
Quoting dvc11
Trading is my last and always wanted option of career
I hate to tell you this but I think trading is a luxury you can't afford right now. Yep I consider trading to be a luxury pursuit. It is kinda like golf. People who golf usually have money and plenty of free time. If you are approaching trading as a "last resort" and "I need to start making a living from this almost immediately", you should just absolutely forget about it, you will end up in a far worse and desperate situation than you are right now.

I think the most important question aspiring traders should ask themselves, is NOT "Do I have the desire and determination? Am I smart enough? Do I have the proper skills?" Important questions to be sure, and if your an aspiring trader, you would obviously answer "Yes" to all of them, whether they are true or not.

The question you should start with is "Am I in a situation that allows me the luxury to trade? One that allows me to invest a substantial amount of time and capital, for several YEARS, before I can even consider starting to earn an "income" from it.

The ideal situation I think is to treat trading simply as a hobby, purely for enjoyment, with absolutely no expectations or timelines attached to it. I beleive that most traders do NOT approach trading this way, that they have definite goals in mind, to LEARN trading and to PROFIT from it.

Having said that, I imagine some scenarios where learning to trade and trading could possibly be an option, and just an overall breakdown of what I think I see in online trading communities:

Young people who are either completely or partially dependant on their parents, most likely in high school or college, and have plenty of free time on their hands.

Older people who are living off some kind of retirement, AND are financially secure, and have plenty of free time on their hands.

Adults who have stable jobs and enough time and/or savings to devote to trading at least part-time.

Adults who have substantial savings and/or family that provides for them, and plenty of free time on their hands.

Perhaps you don't fit perfectly into one of these categories, but I think the important ingredients here are TIME and MONEY, and a relatively stress free environment that allows you to apply time and money in a secure manner.
  • #9
  • Dec 14, 2011 11:50am Dec 14, 2011 11:50am
Hi dvc11,

You shouldn't give up. Although I often feel that not giving up is one of the hardest things to do. But to me it would be sort of an official declaration of failure, because I know that if others could become successful, so can I. It only depends on me and no one else.

Some practical advice:

1. Read threads/books by successful traders. Whenever I read about positive results, it makes me feel better and motivated.

2. Experiment. It has been mentioned to look for a system and adapt it. I did/do that often. I tried everything, and if I didn't like it the way it was, I changed it. Do they use an SMA? Let's try it with EMA instead. Does the OP use H1? Hey, that won't stop me trying it on M1. Do they use the weekly open as a starting point? Why not try the daily open?

(Yes, I am aware that this sounds just like "jumping from system to system", but I think eventually one finds something he sticks with (whether it's an indicator or a price action method), then he can stop the jumping )

3. I also recommend learning to code. I know it's not really related to trading in itself, but I would have been lost without it, because I could try out all of my ideas in like 20-30 minutes. Although my platform uses CTL which is easier to learn than MQ4 (and I already had programming knowledge), MetaQuote Languange doesn't seem that hard either.

4. Anything else involving not giving up!

Best of luck,
Ralome
Even if you fall on your face, you're still moving forward.
  • #10
  • Dec 14, 2011 12:16pm Dec 14, 2011 12:16pm
Thanks guys...I deeply appreciate all your advice, sharing, and encouragement.
  • #11
  • Dec 14, 2011 4:44pm Dec 14, 2011 4:44pm
See my signature

What system are you trading? Maybe we can make some suggestions that will help?
  • #12
  • Dec 14, 2011 5:27pm Dec 14, 2011 5:27pm
You need to educate yourself. The more informed you are the better trader you will be. You will find that as you put in hard work studying , you'll become more qualified and confident in many areas of your life.

I would start with the basics. Google Larry Harris and find his book "Trading and Exchanges," there are nearly complete digital copies of it floating around this site, just do a search.

I would advise staying out of the systems forums. One of the biggest obstacles to new traders is the idea that you just need to find the right system. If you approach the markets in this way you will fail. The only person who can get you to the point of profitable trading is you.

Good luck and God bless
  • #13
  • Dec 14, 2011 5:49pm Dec 14, 2011 5:49pm
Quoting dvc11
Hi guys, does anyone feels trading sux at times?

Especially as most trades I bought or sold goes the reverse direction with a loss?

And so, I try to be smart and trade the opposite "losing" direction and hoping my loss will become profits, but HOW STRANGE.....it goes the reverse direction which is my actual entry!

I felt very disappointed, depressed & hopeless and wanted to give up trading but at the same time I hope I'm able to earn a living from trading as this allows me the the weekends and time I needed to be at home for my family. Trading...
I just felt something like that. A string of loss like punched me in the face. Not my approach is bad, it's just pure bad luck, period. I traded with trend like everybody else who were making pips, but the approach I use to take profit and cut losses wasn't resulting well for current downtrend AU

I was discouraged to go to interactive thread where I used to hang out everyday because people are showing off their +pip there. It reminds me how silly is that when everyone seemed to be making pips, I was the only one losing it

However, I know that being sad and frustrated doesn't help. I know I want to move forward from that moment toward things I want. So I do something that I call Mind Work, which is basically bringing myself to a better vibration/feeling/mind-state

I consider my Mind Work is 50% of my concept of trading business, if not more. Because I know, without positive mind state, my business will go nowhere =)

I believe it applies to other business as well. In the early years it will usually be difficult so every new entrepreneurs have to deal with it and find a way through it in order to reach success, that's the only way forward

If you don't know by yourself how to move forward in life (including business) and feel better, give me a PM, I will show you one or two videos on youtube that may radically change your view on life in a very positive manner
The tone of your words reflects the quality and result of your trading ;-)
  • #14
  • Dec 15, 2011 12:19am Dec 15, 2011 12:19am
Quoting dvc11
Hi guys, does anyone feels trading sux at times?

Especially as most trades I bought or sold goes the reverse direction with a loss?

And so, I try to be smart and trade the opposite "losing" direction and hoping my loss will become profits, but HOW STRANGE.....it goes the reverse direction which is my actual entry!

I felt very disappointed, depressed & hopeless and wanted to give up trading but at the same time I hope I'm able to earn a living from trading as this allows me the the weekends and time I needed to be at home for my family. Trading...
yeah, you are still far far away of becoming profitable. If all the companies out there would operate in the economy like you in the markets, they would all go bankrupt.
Research the markets, find out what works, and then trade only that. It seems you jumped ahead to just trading without knowing anything about what works and what doesn't.

And anyways, you would need a huge account to live on, seems like your salary doesn't allow you to put enough money away, so your only option is to compound the profits in the beginning.
So first find a good method, then trade your account up the next 10 years and then live on the profits. It's not a fast road to riches, but a good road to wealth.
  • #15
  • Dec 15, 2011 1:00am Dec 15, 2011 1:00am
Quoting Aldente
I hate to tell you this but I think trading is a luxury you can't afford right now. Yep I consider trading to be a luxury pursuit. It is kinda like golf. People who golf usually have money and plenty of free time. If you are approaching trading as a "last resort" and "I need to start making a living from this almost immediately", you should just absolutely forget about it, you will end up in a far worse and desperate situation than you are right now.

I think the most important question aspiring traders should ask themselves, is NOT "Do I...
  • #16
  • Edited 3:59am Dec 15, 2011 3:28am | Edited 3:59am
Scotty is right, OP.

I can say with complete confidence that your current vision of what trading is will be far from the reality. Further more, If and when you learn more about trading - and all the areas pertaining to it - you'll realise that your current vision of life in general was far from reality.

Forget about wanting to make people proud. Forget about this forum for anything other than entertainment. You need to want to understand, to put everything into it: if you catch yourself thinking, "that seems like too much effort," at any point, you better get over it or quit.

You'll get exactly what you deserve, either way.

As I see it, the cardinal rule in trading, as in life, is to ask questions. And the corollary of the cardinal rule is that the person who asks the question is the person who can find the most satisfactory answer. This is the organic way to learn. You wont see a solution until you envisage the problem for your self. So start asking "what is this?", "how does this work?", "why does this exist?", "who uses this?", "what is related to this?", "how do the things related to this, and the people who use this, affect this?" and so forward. Ask questions, and you wont have time for this forum any longer, you'll have more than you ever will need to be working on. The leads you'll find will overwhelm you.
Living the adventure in my head.
  • #17
  • Last Post: Dec 15, 2011 4:44am Dec 15, 2011 4:44am
Well said.

One caveat:
Quoting Leonlorenzo
As I see it, the cardinal rule in trading, as in life, is to ask questions. And the corollary of the cardinal rule is that the person who asks the question is the person who can find the most satisfactory answer. This is the organic way to learn.
That rules my posts: To adventure in a new direction, challenge old thinking and establish a better way.
Then, I develop my trading with it in a forum journal.
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