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At What Point Do You Give Up On Forex

  • #101
  • Jun 19, 2012 10:55am Jun 19, 2012 10:55am
I guess the generic answer is "when you no longer find in trading what you were looking for"...

- quick way to riches
- adrenalin
- independence
- gambling
- leverage
- a sense of being in control of your life
- steady and predictable income (good luck)

... pick you poison
  • #102
  • Jun 19, 2012 10:58am Jun 19, 2012 10:58am
Quoting darko2010
I guess the generic answer is "when you no longer find in trading what you were looking for"...

- quick way to riches
- adrenalin
- independence
- gambling
- leverage
- a sense of being in control of your life
- steady and predictable income (good luck)

... pick you poison
Some things don't change.....
  • #103
  • Jun 19, 2012 11:15am Jun 19, 2012 11:15am
At what point do you give up forex?
That is a very good question. I think that it doesn't really matter when you give it up, if your losses are tiny compared to your overall personal wealth.

According to what I have read more than nine out of ten people who trade forex lose. The chances are that you will lose. If you enjoy trading forex why not trade on a scale that doesn't cost you any more than an alternative hobby like golf or stamp collecting?

If you cannot afford golf or stamp collecting you cannot afford forex.

If you don't enjoy trading but it's the only get rich scheme you can think of , get out now.

Please remember nine out of ten traders lose. I also believe that nine out of ten traders on FF who imply that they win, lose.

Please don't try and and beat the nine out of ten odds -if you need to win to support you or your family.
  • #104
  • Jun 19, 2012 11:20am Jun 19, 2012 11:20am
Quoting Paddy9
At what point do you give up forex?
That is a very good question. I think that it doesn't really matter when you give it up, if your losses are tiny compared to your overall personal wealth.

According to what I have read more than nine out of ten people who trade forex lose. The chances are that you will lose. If you enjoy trading forex why not trade on a scale that doesn't cost you any more than an alternative hobby like golf or stamp collecting?

If you cannot afford golf or stamp collecting you cannot afford forex.

If you don't enjoy trading...


Nice!!!
  • #105
  • Jun 19, 2012 1:46pm Jun 19, 2012 1:46pm
  • #106
  • Jun 19, 2012 2:14pm Jun 19, 2012 2:14pm
Quoting CrucialPoint
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.


I like to think of it as 'The perfection of imperfection'. Problem is, it can take a 'perfectionist' quite a long time to get to that point, they tend to be stubborn.
  • #107
  • Jun 19, 2012 2:36pm Jun 19, 2012 2:36pm
Quoting PoundTrader
your not trading anymore?
nope, still trading. Making money slowly...
  • #108
  • Jun 19, 2012 6:12pm Jun 19, 2012 6:12pm
Quoting Paddy9

If you don't enjoy trading but it's the only get rich scheme you can think of , get out now.
Wrong! Trading is not a hobby and 9.9 out of 10 people are in this business to make money and lots of it. Trading offers higher odds than any lottery or casinogame in existence.
  • #109
  • Jun 19, 2012 7:26pm Jun 19, 2012 7:26pm
Quoting Larseg
nope, still trading. Making money slowly...
good to hear
  • #110
  • Jun 20, 2012 3:56am Jun 20, 2012 3:56am
  • #111
  • Jun 20, 2012 5:55am Jun 20, 2012 5:55am
Quoting 60minuteman
Being a leeds supporter i guess you know how to continually lose in the belief that one day you will win..
Ouch! Unfortunately, you're right these days
  • #112
  • Jun 20, 2012 6:35am Jun 20, 2012 6:35am
Quoting Trotty
Ouch! Unfortunately, you're right these days
if they had a win rate of 50% say, and R/R of 2/1 they would do ok...
tradewith60
  • #113
  • Jun 20, 2012 6:48am Jun 20, 2012 6:48am
Quoting 60minuteman
if they had a win rate of 50% say, and R/R of 2/1 they would do ok...
I'd settle for that....and a sexy equity curve
  • #114
  • Jun 20, 2012 7:36am Jun 20, 2012 7:36am
Considering giving up?

Read 'The Dip' by Seth Godin.

Its only £10 or so from Amazon.

Well worth it in my opinion.

BBCMicro
  • #115
  • Jun 20, 2012 8:55am Jun 20, 2012 8:55am
easy answer is you give up when you invest more then you get back from it,as forex is a money pit,why there is so many brokers around offering bonuses and other crap,because they know that they have a small advantage over time that you will lose money or they will make money from your spread anyway its win win for them.As for people who think i wasn't successful in year one i might be successful in year two,then three and four,it means gambling is your addiction.The only benefit from forex is that you can do it from home but eventually you realize your living in a cell,waiting for data and other crap moves to gain few pips while the rest of the world 99.99% dont give a F about greece dollar or how much debt usa has,people just live and avoid such information as it doesn't pose any difference to them because they cant alter it.
  • #116
  • Jun 20, 2012 8:56am Jun 20, 2012 8:56am
You never give-up. Trading is part of lifestyle and a damn good one at that, would you ever quit a job that allows you to work when and where you want?

The answer for most people would probably be NO.
  • #117
  • Jun 20, 2012 9:10am Jun 20, 2012 9:10am
Maybe it's time to give up when you feel it's necessary to start a thread asking the question "at what point do you give up"
I am sure pound trader knows it but for all you others......please just relax and dont jump down my throat...its a joke.

drop for drop I reckon forex trading is probably more addictive than heroine......never give up
  • #118
  • Jun 20, 2012 9:52am Jun 20, 2012 9:52am
wouldn't call it addictive,as forex requires lots of patience and time,but it does interfere with sleep and daily life big time depending of what type trader you are.
  • #119
  • Jun 20, 2012 10:39am Jun 20, 2012 10:39am
Quoting pinkiaiii
wouldn't call it addictive,as forex requires lots of patience and time,but it does interfere with sleep and daily life big time depending of what type trader you are.
yep and its addictive laerning the patience required
  • #120
  • Jun 20, 2012 10:56am Jun 20, 2012 10:56am
Quoting dean
yep and its addictive laerning the patience required
quit smoking after 10 years now thats addictive two years clean now,so might say that all the money i saved from buying smokes went into forex,and if i had to choose starting from beginning id choose to smoke then rather playing with forex,as one smoke gives more pleasure then whole day of watching charts.Anyway for my last post in this thread i will say if you can afford learning and loosing,while spending your life at the screen,trading day from day to achieve goal of becoming rich then good luck as eventually you be making your own topic how you quit forex.
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