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  • #604,781
  • Mar 6, 2012 5:01pm Mar 6, 2012 5:01pm
Quoting Agent-Pipen
From looking at the trade explorer a few have added more and more to their losses, I suppose to average out.
There are people who do that with success. But you really have to know what you're doing.
  • #604,782
  • Mar 6, 2012 5:02pm Mar 6, 2012 5:02pm
Quoting rafiqhidayat
Good luck.

Myself - Overall years of trading experience (live) - 4 years.
No. of accounts lost (MC) - 5 (generally within the first 2 months)
Total Trading Funds Lost = USD 6k

Note: I did the small accounts and kept funding / revenge trading etc.... basically the point is, it took me 4 years to understand that slow and steady wins the game in forex (some knowledge and luck also helps)

Current account (account no. 6)
Open since Sept 2011 - mini lots
Sept P/L = -USD 200 (tried out zulutrade and realized I could trade better manually compared...
We are in the same boat...

Good luck!!
  • #604,783
  • Mar 6, 2012 5:06pm Mar 6, 2012 5:06pm
Quoting Leeson
We are in the same boat...

Good luck!!
Did you guys learn from your mistakes? or did you invest in a forex education?
  • #604,784
  • Mar 6, 2012 5:06pm Mar 6, 2012 5:06pm
Quoting Leeson
Boa noite eliabreu / Alec!

Cá está mais um lusitano...

Forte abraço de Lisboa
Eh eh. Abraço da margem sul

E vão três, em português
  • #604,785
  • Mar 6, 2012 5:08pm Mar 6, 2012 5:08pm
Quoting Mr Alum
Did you guys learn from your mistakes? or did you invest in a forex education?
Learned from my mistakes. The hard way... If you look at it, this is the real forex education.. you must feel it hard in your pocket to learn something... It worked for me.
  • #604,786
  • Mar 6, 2012 5:08pm Mar 6, 2012 5:08pm
Quoting Leeson
Dont give up my friend. Use lower lots to manage risk without putting your account in danger and learn about support/resistance and practice your PATIENCE to wait for proper setups with higher success chances.

If you get in 10 times a week and you manage to get it right 7 of them, with proper risk control you will be successful. I took a lot of hits before I started to realize this...

It's working for me.

See your losses instead as investment in your education on this stupid business, it will be easier to deal with your feelings on the long...
You seem to know what you are talking about, are you talking from experience, or did you invest in a forex education.
  • #604,787
  • Mar 6, 2012 5:09pm Mar 6, 2012 5:09pm
Quoting Alec
Eh eh. Abraço da margem sul

E vão três, em português


Bem, Lisboa na realidade é Montijo! Dois na Margem Sul!
  • #604,788
  • Mar 6, 2012 5:10pm Mar 6, 2012 5:10pm
Quoting Zink
Mais um portuga!!!

Forte abraço de coimbra!
Ah ah. Eh lá! Isto está a crescer. Abraço!
  • #604,789
  • Mar 6, 2012 5:11pm Mar 6, 2012 5:11pm
Quoting Mr Alum
Did you guys learn from your mistakes? or did you invest in a forex education?
the only way to learn is to experience ... and it takes some time...
  • #604,790
  • Mar 6, 2012 5:12pm Mar 6, 2012 5:12pm
Quoting rafiqhidayat
Good luck.

Myself - Overall years of trading experience (live) - 4 years.
No. of accounts lost (MC) - 5 (generally within the first 2 months)
Total Trading Funds Lost = USD 6k

Note: I did the small accounts and kept funding / revenge trading etc.... basically the point is, it took me 4 years to understand that slow and steady wins the game in forex (some knowledge and luck also helps)

Current account (account no. 6)
Open since Sept 2011 - mini lots
Sept P/L = -USD 200 (tried out zulutrade and realized I could trade better manually compared to...
I like your quote, money management is very important, i hope you are using good trade money management and understand the concept is more to do with position sizes, it is also about your account.

eg If your winning 3%, then good money management would be to, safe guard 2% and continue to trade the 1% of your winning that day. Or if you have met your daily target, you could close all open positions, to remove any risk to your account.
  • #604,791
  • Mar 6, 2012 5:13pm Mar 6, 2012 5:13pm
Quoting Alec
Ah ah. Eh lá! Isto está a crescer. Abraço!
Odivelas
  • #604,792
  • Mar 6, 2012 5:13pm Mar 6, 2012 5:13pm
Quoting Leeson
Learned from my mistakes. The hard way... If you look at it, this is the real forex education.. you must feel it hard in your pocket to learn something... It worked for me.
Same here....
Buy! Buy! Sell! Sell! Just make sure you have proper MM!
  • #604,793
  • Mar 6, 2012 5:14pm Mar 6, 2012 5:14pm
Quoting Mr Alum
I like your quote, money management is very important, i hope you are using good trade money management and understand the concept is more to do with position sizes, it is also about your account.

eg If your winning 3%, then good money management would be to, safe guard 2% and continue to trade the 1% of your winning that day. Or if you have met your daily target, you could close all open positions, to remove any risk to your account.


Right now I'm only trading with my winnings. My original deposit is safe (still in the account), but no need to dip into it with my MM.
Buy! Buy! Sell! Sell! Just make sure you have proper MM!
  • #604,794
  • Mar 6, 2012 5:16pm Mar 6, 2012 5:16pm
Quoting rafiqhidayat
Same here....
lol I lost 4k gbp in 2 months, and then paid to get a proper forex education. I just thought, its going to be hard work learning this on my own.

Even with a forex education, i strugle to be consistent, but i am no where near, blowing my account.
  • #604,795
  • Mar 6, 2012 5:17pm Mar 6, 2012 5:17pm
Quoting rafiqhidayat


Right now I'm only trading with my winnings. My original deposit is safe (still in the account), but no need to dip into it with my MM.
Very clever, you trade part time or full time?
  • #604,796
  • Mar 6, 2012 5:18pm Mar 6, 2012 5:18pm
Quoting Mr Alum
lol I lost 4k gbp in 2 months, and then paid to get a proper forex education. I just thought, its going to be hard work learning this on my own.

Even with a forex education, i strugle to be consistent, but i am no where near, blowing my account.
The issue isn't the knowledge.. but whether you can control yourself mentally. You can learn all the forex technique in the world etc.. but if you can't control your emotions, you'll probably still end up losing.
Buy! Buy! Sell! Sell! Just make sure you have proper MM!
  • #604,797
  • Mar 6, 2012 5:20pm Mar 6, 2012 5:20pm
Quoting rafiqhidayat
The issue isn't the knowledge.. but whether you can control yourself mentally. You can learn all the forex technique in the world etc.. but if you can't control your emotions, you'll probably still end up losing.
  • #604,798
  • Mar 6, 2012 5:20pm Mar 6, 2012 5:20pm
Quoting Mr Alum
Very clever, you trade part time or full time?
Part time. Don't think I'll ever make this a full time thing. Already have a great job with a great pay in the corporate world. This is just an investment I'm doing on the side to diversify my portfolio etc.

Even if I achieved my target of recovering my losses for the year, I still won't make the same amount as what I earn on a monthly basis for my full time job.

Additional Note: You can also read the above statement that I'm more confident about my abilities in my full time job compared my abilities in forex trading.
Buy! Buy! Sell! Sell! Just make sure you have proper MM!
  • #604,799
  • Mar 6, 2012 5:29pm Mar 6, 2012 5:29pm
Quoting rafiqhidayat
Part time. Don't think I'll ever make this a full time thing. Already have a great job with a great pay in the corporate world. This is just an investment I'm doing on the side to diversify my portfolio etc.

Even if I achieved my target of recovering my losses for the year, I still won't make the same amount as what I earn on a monthly basis for my full time job.
Cool, im sorry but i dissagree with you, a forex education and mentoring, builds confidence in your trading, you are taught how to trade. If you backtest your strategy, you will have more confidence in it, if your in a room full of traders, and there all making money using the same strategy, that would increase your confidence.

I know this first hand, when i lost my 4k gbp, i was very emotional and that is the wrong way to trade. Now since, i have had a forex education and continous mentoring, im not super rich or any thing, but im on a better road i was with out any education. I am much diverse and can trade on 33 currency pairs, using the strategy i have learnt.

Most of the other trades are also part time, people who work in the office but because i am a business and management graduate and im looking to become a forex trader as a career, i chose to do things properly.

Every morning gmt time, i get help from 7am to 9pm.

How did you first find out about the forex market?

My dad got me into buying and selling shares on his account, at the age of 15.
  • #604,800
  • Mar 6, 2012 5:34pm Mar 6, 2012 5:34pm
cool just grabbed some with the pullup
When life gives you lemons, make lemonade
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