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At What Point Do You Give Up On Forex

  • #81
  • Jun 18, 2012 1:10pm Jun 18, 2012 1:10pm
Quoting pinkiaiii
good point if you cant quit,might aswell start joining gamblers anonymous.its not like i need to master this skill then that skill and it was my fault that market moved the way it moved,all principle of forex is to raise enough funds then keep banging till all weakest fallout,and it might take weeks or months until you get shaken out but eventually it happens.Only winners as i said are those with 7 digit accounts ant 0 leverage because they move it where they want it to be and collect their payment at the end of the day.
I was wrong when I said one should never quit because it is quitting on your dreams when you do. If somone have that kind of attitude should quit immediately, save yourself time and money.
  • #82
  • Jun 18, 2012 1:16pm Jun 18, 2012 1:16pm
I recently quit trading daily and shut down my primary account.

The reason was primarily was that I hated what it was doing to my
Life. The hours are terrible for day trading where I live.

I love trading. I still post a bit in the euranalysis thread and follow the markets from a larger position/swing trader perspective and I have a very small
Accnt or demo.

But I've given up the illusion that forex will
Pay my bills or that I'll be the next Joe Lewis. I know what I am and I know what I'm not.
I feel profitability isn't contingent on much other than risk
Management, discipline, and patience in this biz. And staying
Away from the market except for about 20 min a day looking at
Some HLOC numbers and following some news for a bias has made me
A much happier man.
  • #83
  • Jun 18, 2012 1:16pm Jun 18, 2012 1:16pm
Quoting Alan5616
What absolute BS. There is no regulated market, for spot forex, which is why they have free license to rip their clients off. I suggest you read details of the case brought by the CFTC against FXCM before making ridiculous comments about a few retail traders measly positions.
No I think youre talking BS actually, uk forex brokers are regulated by the fsa and as such are as safe as your high street bank...

Yes there are bad eggs for sure, but if you're gonna use a financial institution the check them out first...

all this bullshit about brokers hunting stops... generally crappy traders who need someone to blame...

Never ever had a single problem or any irregularity with my broker but you and the crowd talk about it like its a daily occurance

edit... i will go further, 122 traders in my skype groups, never even gets discussed, we all trade along quite happily with never any sign of this happening... guess were just really lucky... jeez
tradewith60
  • #84
  • Jun 18, 2012 1:26pm Jun 18, 2012 1:26pm
Quoting 60minuteman
No I think youre talking BS actually, uk forex brokers are regulated by the fsa and as such are as safe as your high street bank...

Yes there are bad eggs for sure, but if you're gonna use a financial institution the check them out first...

all this bullshit about brokers hunting stops... generally crappy traders who need someone to blame...

Never ever had a single problem or any irregularity with my broker but you and the crowd talk about it like its a daily occurance

edit... i will go further, 122 traders in my skype groups, never...
  • #85
  • Jun 18, 2012 1:26pm Jun 18, 2012 1:26pm
Quoting 60minuteman
No I think youre talking BS actually, uk forex brokers are regulated by the fsa and as such are as safe as your high street bank...

Yes there are bad eggs for sure, but if you're gonna use a financial institution the check them out first...

all this bullshit about brokers hunting stops... generally crappy traders who need someone to blame...

Never ever had a single problem or any irregularity with my broker but you and the crowd talk about it like its a daily occurance

edit... i will go further, 122 traders in my skype groups, never even gets...
You're confusing FSA regulation with centralised market regulation, which are two very different things. If your broker uses Boston Technologies Virtual Dealer, to trade against you, then the FSA are not interested. Brokers can't use this on a centralised market, which is why spot forex is their market of choice, for ripping retail clients off.
  • #86
  • Jun 18, 2012 1:35pm Jun 18, 2012 1:35pm
Quoting Alan5616
What absolute BS. There is no regulated market, for spot forex, which is why they have free license to rip their clients off. I suggest you read details of the case brought by the CFTC against FXCM before making ridiculous comments about a few retail traders measly positions.
  • #87
  • Jun 18, 2012 1:37pm Jun 18, 2012 1:37pm
Quoting 60minuteman
No I think youre talking BS actually, uk forex brokers are regulated by the fsa and as such are as safe as your high street bank...

Yes there are bad eggs for sure, but if you're gonna use a financial institution the check them out first...

all this bullshit about brokers hunting stops... generally crappy traders who need someone to blame...

Never ever had a single problem or any irregularity with my broker but you and the crowd talk about it like its a daily occurance

edit... i will go further, 122 traders in my skype groups, never...
  • #88
  • Jun 18, 2012 4:20pm Jun 18, 2012 4:20pm
is spot forex manipulated ? are the elections in kenya ? christ sakes,every bloody thing is manipalated to a certain point,get over it,

is my broker swinging price 20 pips against my position to buy his wife a matalan scarf,!!!!!!

is the intraday barclays team looking to sweep large areas of stops within ther own limited funds ?

its all relative to ones given objective,

its called trading,learn to trade or pack it up and stop complaining.
  • #89
  • Jun 18, 2012 4:56pm Jun 18, 2012 4:56pm
Quoting diceman555
is spot forex manipulated ? are the elections in kenya ? christ sakes,every bloody thing is manipalated to a certain point,get over it,

is my broker swinging price 20 pips against my position to buy his wife a matalan scarf,!!!!!!

is the intraday barclays team looking to sweep large areas of stops within ther own limited funds ?

its all relative to ones given objective,

its called trading,learn to trade or pack it up and stop complaining.

  • #90
  • Jun 18, 2012 5:34pm Jun 18, 2012 5:34pm
good thread
  • #91
  • Jun 18, 2012 5:55pm Jun 18, 2012 5:55pm
if anyone else gets bored of the useless ramblings on FF (no disrespect OP)

you could watch TFL TV http://tfl365.com/tfl365-tv/

wont hear any guff about shady brokers or anything, but good trading advice
tradewith60
  • #92
  • Edited 7:18pm Jun 18, 2012 6:06pm | Edited 7:18pm
Quoting 60minuteman
if anyone else gets bored of the useless ramblings on FF (no disrespect OP)

you could watch TFL TV http://tfl365.com/tfl365-tv/

wont hear any guff about shady brokers or anything, but good trading advice
(lol) Not talking about the content of the link... But the beginning of the post itself (lol). You must still admit that their still is a lot of valuable information throughout this forum. You just need to figure it out. Takes time “tho”… You need to filter out/through a whole lot of crap…
Fuck Forex Factory.Wake up people.
  • #93
  • Jun 19, 2012 3:22am Jun 19, 2012 3:22am
Quoting ramy3
(lol) Not talking about the content of the link... But the beginning of the post itself (lol). You must still admit that their still is a lot of valuable information throughout this forum. You just need to figure it out. Takes time “tho”… You need to filter out/through a whole lot of crap…
There is but mostly in older posts.
  • #94
  • Jun 19, 2012 8:23am Jun 19, 2012 8:23am
Vote!
  • #95
  • Jun 19, 2012 8:26am Jun 19, 2012 8:26am
Quoting PoundTrader
Vote!
i don't think people want to entertain the idea of quitting and what might cause it in themselves
tradewith60
  • #96
  • Jun 19, 2012 8:30am Jun 19, 2012 8:30am
Many people will never give up and continue to be consistent losers. Part of that reason is admitting failure and most people have a hard time doing that.

On the flip side, if you are able to trade a demo account or simulator consistently profitably, I would never give up. The only thing stopping you then turning a live profit is your mind and all minds can be mastered with the right application.

For me, I guess it would be around the 5/6 year mark. If I couldn't find a breakthrough by then, i would be loath to waste too much more of my time on a dream that is looking like it may not be right for me.
  • #97
  • Jun 19, 2012 8:35am Jun 19, 2012 8:35am
Quoting Trotty
Many people will never give up and continue to be consistent losers. Part of that reason is admitting failure and most people have a hard time doing that.

On the flip side, if you are able to trade a demo account or simulator consistently profitably, I would never give up. The only thing stopping you then turning a live profit is your mind and all minds can be mastered with the right application.

For me, I guess it would be around the 5/6 year mark. If I couldn't find a breakthrough by then, i would be loath to waste too much more of my time...
Being a leeds supporter i guess you know how to continually lose in the belief that one day you will win..
tradewith60
  • #98
  • Jun 19, 2012 9:00am Jun 19, 2012 9:00am
get rich but never give up trying. thank goodness for the demo accounts burnt up
  • #99
  • Jun 19, 2012 9:45am Jun 19, 2012 9:45am
I think one must be a perfectionist in their personality. And then at one point will reach a crossroad that in order to succeed one needs to realize that imperfection is part of the equation.

A perfectionist puts all their heart into what they do. Love, passion and devotion are the elements that propels them to great achievements. Whatever it is in life one pursue, I believe that anyone who doesn't possess such elements will produce mediocre result.

I believe that if you are trading for mediocre results that you are better off to spend your time doing something else. Achieving around 30k a year in forex are mediocre results.

People don't understand the true definition of love and hard work. People are best to save 30-40% per year of their income, place it in a bank in term savings with guaranteed interests, retire at 60-65 and then enjoy their retirement years. This is the fool-proof plan to the lazy man's guide to financial and stress free life.
  • #100
  • Jun 19, 2012 10:15am Jun 19, 2012 10:15am
when I will loose half of my funds I quit but I never got there I hope I wont
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