Dislikedfx trading is not just like spoon feeding. you need to learn from your mistakes. you have to experience it so that you can handle the pressure. For me, 'there are no failures, it's just experiences and your reactions to them'. 'Life's real failure is when you don't realize how close you were to success when you gave up'.Ignored
At What Point Do You Give Up On Forex
- #221
- Jun 28, 2012 4:51am Jun 28, 2012 4:51am
- Joined Sep 2010 | Status: Life Time Member | 6,685 Posts
- #226
- Jun 28, 2012 5:10am Jun 28, 2012 5:10am
Sorry, I can't understand how to vote here 
And now the thread has moved to IQ
To tell the truth, I started highly intelligent ( schooled), and would run mega losses. But since I have started to handle my trading and become profitable in a consistent way, I most of the time feel that I am becoming dumber and dumber, So dumb that sometimes, I wonder if trading profitability has significantly decreased my IQ level. Call it Rich Idiot, and I am glad to be leaving the poor high IQ to rich idiot.
And now the thread has moved to IQ
To tell the truth, I started highly intelligent ( schooled), and would run mega losses. But since I have started to handle my trading and become profitable in a consistent way, I most of the time feel that I am becoming dumber and dumber, So dumb that sometimes, I wonder if trading profitability has significantly decreased my IQ level. Call it Rich Idiot, and I am glad to be leaving the poor high IQ to rich idiot.
- #227
- Jun 28, 2012 5:16am Jun 28, 2012 5:16am
Sorry, I can't understand how to vote here
And now the thread has moved to IQ
To tell the truth, I started highly intelligent ( schooled), and would run mega losses. But since I have started to handle my trading and become profitable in a consistent way, I most of the time feel that I am becoming dumber and dumber, So dumb that sometimes, I wonder if trading profitability has significantly decreased my IQ level. Call it Rich Idiot, and I am glad to be leaving the poor high IQ to rich idiot.
- #229
- Jun 28, 2012 5:28am Jun 28, 2012 5:28am
I think for me , I had to become dumber, then I started to take my losses, and as I took my losses, I became richer. So I really hope I can become really dumb.
By teh way , how does one vote here?
Never, Look to all of you newbie traders here is the formula of success along with a story that I wanted to share so you avoid some mistakes i made, some words of encouragement to the wise, since forex factory has shared so much with me
4 years ago I worked at the stock market with IB, made some decent 6% profit month when I started, using technicals and some ultra easy compared to forex behavioral dynamics of companies on healthcare and finance sectors, then I got up to 10%, then I heard the word “leverage”, 100:1 leverage??? WOW im going to get some girls and parties and some great things in little time! I thought , I saved some money on it, retired and went with 7500 bucks on forex, I tried 32 technical strategies first, almost all gave me incredible profits and DIED in 2 months, thank god when I tried one after the demo tests it was the best one of the 32 over time, and still it died, then I tried fundamentals, news releases, hedging them for spread befor the release, buy/selling after news releases, they were great but the thing is you never know FOR SURE if there is going to be a whipsaw or not, so after many wrongs and rights I tried it without hedge, abs/rel strength, indexes, etc.
It didn’t work out the way I hoped it, infact in the demo tests I was up 50% a month, I tried it with the live account, and in the live account you really feel the sharks of whipsaws, whipsaws are like the sharks in a surfing of forex, and I lost 20% instead of winning 50%, then I tried some behavioral patterns on the market that I thought I really view, by this time mql4 and mql5, forex factory, etc were my homepages, even a well respected investor friend of mine that we worked together told me about failures that he had seen of some stocks in invervals of 1.5 and 2 days, I tried everything to optimize in hopes of getting over 10% a day capital in forex, by using some stock knowledge , another person of a big investment fund told me about “hocus pocus” on the market, planets affecting the way investors feel, tri arb (can be done with enough money), synth arb, I tried every variable you can possibly think of, once in a fundamental approach I used the conspiracy theory with 20% weight on my decision (that one has nice results btw) , candle stick pattern recognition, one time I even compared the economic cycle of the year to certain patterns in some pairs, pivots , axel levels, fibos,fibo fann, fuzzy logic, then I had some interesting findings with neural nets, word of advise about neural nets, noise can be great or can kill you depending on the structure of the net, every possible combination of technicals, then I combined some of them and had good profits, the problem about this strategy that I “combined “ with things you wouldn’t believe is that there cant be really a stop loss, you have to be there , the next day I doubled my money, I made sure every single characteristing of the system worked, I did the same for like a week, I began with my broker at a loss of 5000 bucks a deposit of 2500, and I doubled it for 5 days and the next I took like half of profit, in 2 weeks I had 143,000 bucks in my account, the thing is this strategy had no stop loss, I was so sure that i coudnt be wrong, that the strategy made the dumbest mistake of my life, I went to the beach and when I got back a week later,I was short on my pocket and on my account
It cost me 1 year and a half to “amend” that mistake by getting a part time job, you see the problem about that strategy was that I thought I coudnt be wrong if I took every possibility in check, and so I did, and it cost me 143,000 bucks in high risk to understand I can, and will , be wrong, the thing about forex is you have to optimize yourself in every way you can, if you are not pacient, you better get pacient, if you are not logical, you’ll lose your money faster than you can take a deep breath, the reason because forex market is the most difficult work in the world is this, ready?, EMOTIONS, fear and greed… the original superpowers of this universe, you need to keep YOURSELF in check, as some guy said once, in order to control other peoples fear you need to control your own , and don’t even thing about scalping some technical probabilities, this game is about FEAR , when a system becomes profitable in the long run, unless you give some of your money to banks, your strategy will be blocked, a long time ago news trading was like the dotcom, get rich in a day!, now look at the whipsaws and spreads, ._. , good luck with that, if you want a steady income, youre better of working at mc donalds, because theres nothing steady about this job, thing about forex is that if you give up it was never meant for you, its only by trial and error that we get the job done, predatory trading , was and will be, the way I see it, if you are profitable long enough at this game you deserve to get a steady income, you need to understand that fear of losing and fear of not getting in are the superpowers of the forex market, and of this world, if you can master them, you can master everything, forget about hunches , there are sometimes you cant explain why you did a move and you won, that’s because the holy grail and the most powerful neural net in the world are in one place, your head
So my goal is now to get 10% percent daily, I don’t have either the proper equipment or the money for a programmer but I know it can be done, that’s the MONUMENTAL distance between newbies and some of us, because we know we have SEEN it can be done, we separate fairy tales, we know its hard, but it can be done, trust me, im not a harvard graduate, i dont gave the biggest iq the thing i have, persistance... , once I heard a saying in a movie, if you keep believing that you are a looser, the only way you are going to loose is with a person that feels more looser than you, so here is a simple list of things to consider that cost me years of my life to develop, I hope you can do this automatically by reading the list
1: proper money management ( the most important)
2: decition trees, probable outcomes, trading against the current , you see some surfers in the world when jumping great distances to fall on the sea need to wait until the wave is high enough so that when they fall they wont die, it’s the same principle here
3: lets put it this way, if you have the persistence to read every single thread here, in mql4 homepage and mql5 homepage, EVERY SINGLE ONE and try it you will get profitable, I began a manual strategy combining many things, this time with a stop loss, and 1 week later I made 100% then lost 25%, and im still 10 percent to recover
4: in the words of steve jobs, stay hungry, stay foolish, there is no holy grail other than your brain, you cant expect someone that you explain forex in 10 minutes to be great, so why robots? There are profitable robots out there, but there is no guarantee about them, and they are more complicated than buy at moving average x and sell at uberfractal or megahypermulti rsi
, in the words of Buddha everything arises from simplicity, and still in small letters there is the thing about (warning, past performance does not guarantee future results) WOW what a great way to avoid responsibility, but then again the market is dynamic, so we cant blame them cant we?
5: I have 2 gigabytes library over forex, and I still need to read like 100 so that means I have only read like 1.7 gigas
and im still searching to get enough money or participation to develop my 10% a day so newbs, learning is a continuous process, not a place to be
6: the only thing magical in life is perception, correct perception means right, wrong one means not, you must not only need to be correct in your perception, you must be aware of your awareness, this is a dynamic process
7: I swear to you , to all of you, for the sake of the newbs that can one day be great, get rich quick: YES it can be done, easy? Hah youre better of joining a criminal cartel, its less risky than this job
8: forget about stability, about normalization, think adaptative, youre neural network (brain) is the most powerful machine we know of, but it has the most powerful handicap in this game, emotions
9: if I hadn’t learned what I know about stocks, options, binary options, futures, etfs, banks, etc I wouldn’t have tried such a strategy, and now a days, everything is free online, you just need to have the persistence to learn and look for new information
10: get revenge at the market? never, if you let your emotions get ahold of you ONCE you can seriously damage your capital
11: martingale? In short I tried it once at a casino online demo, I got 200% of my capital in 3 hours!! And guess what? Then the demo got lost with no money, martingale means piece of crap, the only way martingale works is with predictable algorithms go beyond M5 algorithm , and you will have more luck of predicting women than this market
12: this game is everything but gambling, there are still some people that have the ignorance to call this gambling, if you don’t investigate every single factor that affects pairs before you take desitions, then forget about forex, sell your laptop and try betting at horse races
13: if this is not for you, stop, this is the hardest job available, get something else and stop wasting your money
14:if youre in this for the long run seriously in the long run and give up, then your life will suck, because you will believe yourself to be of the 99% and we all know the erratic behavior of the masses don’t we
15: yes it can be done, it has been done before you and it will be done way after we are all dead
The thing about this is persistence, absolute persistence.
16: the truth is I don’t know about all those I got 999 billion dollars scratching my belly with this EA, I just pressed on, clicked on metatrader 4 installed the expert and I went to sleep it might be.. but for experience it probably is just like martingale
17: never believe yourself to be absolute right, there is no such thing, in the words of soros, is how you cut your losses short that you make money, not how much you win (trust me on this)
18: if anyone offers you seriously a big strategy, you need to get to work, and most likely the best of strategies believe it or not are found either free here in forex factory or with hedge funds that charge you a lot not a 1000$ bucks robot, unless the programmers are joking its a load a martingale =P
Good luck i have only worked 3 years almost daily trying some strategies but if i can be of asistance pm me no prob although im not a programmer
4 years ago I worked at the stock market with IB, made some decent 6% profit month when I started, using technicals and some ultra easy compared to forex behavioral dynamics of companies on healthcare and finance sectors, then I got up to 10%, then I heard the word “leverage”, 100:1 leverage??? WOW im going to get some girls and parties and some great things in little time! I thought , I saved some money on it, retired and went with 7500 bucks on forex, I tried 32 technical strategies first, almost all gave me incredible profits and DIED in 2 months, thank god when I tried one after the demo tests it was the best one of the 32 over time, and still it died, then I tried fundamentals, news releases, hedging them for spread befor the release, buy/selling after news releases, they were great but the thing is you never know FOR SURE if there is going to be a whipsaw or not, so after many wrongs and rights I tried it without hedge, abs/rel strength, indexes, etc.
It didn’t work out the way I hoped it, infact in the demo tests I was up 50% a month, I tried it with the live account, and in the live account you really feel the sharks of whipsaws, whipsaws are like the sharks in a surfing of forex, and I lost 20% instead of winning 50%, then I tried some behavioral patterns on the market that I thought I really view, by this time mql4 and mql5, forex factory, etc were my homepages, even a well respected investor friend of mine that we worked together told me about failures that he had seen of some stocks in invervals of 1.5 and 2 days, I tried everything to optimize in hopes of getting over 10% a day capital in forex, by using some stock knowledge , another person of a big investment fund told me about “hocus pocus” on the market, planets affecting the way investors feel, tri arb (can be done with enough money), synth arb, I tried every variable you can possibly think of, once in a fundamental approach I used the conspiracy theory with 20% weight on my decision (that one has nice results btw) , candle stick pattern recognition, one time I even compared the economic cycle of the year to certain patterns in some pairs, pivots , axel levels, fibos,fibo fann, fuzzy logic, then I had some interesting findings with neural nets, word of advise about neural nets, noise can be great or can kill you depending on the structure of the net, every possible combination of technicals, then I combined some of them and had good profits, the problem about this strategy that I “combined “ with things you wouldn’t believe is that there cant be really a stop loss, you have to be there , the next day I doubled my money, I made sure every single characteristing of the system worked, I did the same for like a week, I began with my broker at a loss of 5000 bucks a deposit of 2500, and I doubled it for 5 days and the next I took like half of profit, in 2 weeks I had 143,000 bucks in my account, the thing is this strategy had no stop loss, I was so sure that i coudnt be wrong, that the strategy made the dumbest mistake of my life, I went to the beach and when I got back a week later,I was short on my pocket and on my account
It cost me 1 year and a half to “amend” that mistake by getting a part time job, you see the problem about that strategy was that I thought I coudnt be wrong if I took every possibility in check, and so I did, and it cost me 143,000 bucks in high risk to understand I can, and will , be wrong, the thing about forex is you have to optimize yourself in every way you can, if you are not pacient, you better get pacient, if you are not logical, you’ll lose your money faster than you can take a deep breath, the reason because forex market is the most difficult work in the world is this, ready?, EMOTIONS, fear and greed… the original superpowers of this universe, you need to keep YOURSELF in check, as some guy said once, in order to control other peoples fear you need to control your own , and don’t even thing about scalping some technical probabilities, this game is about FEAR , when a system becomes profitable in the long run, unless you give some of your money to banks, your strategy will be blocked, a long time ago news trading was like the dotcom, get rich in a day!, now look at the whipsaws and spreads, ._. , good luck with that, if you want a steady income, youre better of working at mc donalds, because theres nothing steady about this job, thing about forex is that if you give up it was never meant for you, its only by trial and error that we get the job done, predatory trading , was and will be, the way I see it, if you are profitable long enough at this game you deserve to get a steady income, you need to understand that fear of losing and fear of not getting in are the superpowers of the forex market, and of this world, if you can master them, you can master everything, forget about hunches , there are sometimes you cant explain why you did a move and you won, that’s because the holy grail and the most powerful neural net in the world are in one place, your head
So my goal is now to get 10% percent daily, I don’t have either the proper equipment or the money for a programmer but I know it can be done, that’s the MONUMENTAL distance between newbies and some of us, because we know we have SEEN it can be done, we separate fairy tales, we know its hard, but it can be done, trust me, im not a harvard graduate, i dont gave the biggest iq the thing i have, persistance... , once I heard a saying in a movie, if you keep believing that you are a looser, the only way you are going to loose is with a person that feels more looser than you, so here is a simple list of things to consider that cost me years of my life to develop, I hope you can do this automatically by reading the list
1: proper money management ( the most important)
2: decition trees, probable outcomes, trading against the current , you see some surfers in the world when jumping great distances to fall on the sea need to wait until the wave is high enough so that when they fall they wont die, it’s the same principle here
3: lets put it this way, if you have the persistence to read every single thread here, in mql4 homepage and mql5 homepage, EVERY SINGLE ONE and try it you will get profitable, I began a manual strategy combining many things, this time with a stop loss, and 1 week later I made 100% then lost 25%, and im still 10 percent to recover
4: in the words of steve jobs, stay hungry, stay foolish, there is no holy grail other than your brain, you cant expect someone that you explain forex in 10 minutes to be great, so why robots? There are profitable robots out there, but there is no guarantee about them, and they are more complicated than buy at moving average x and sell at uberfractal or megahypermulti rsi
, in the words of Buddha everything arises from simplicity, and still in small letters there is the thing about (warning, past performance does not guarantee future results) WOW what a great way to avoid responsibility, but then again the market is dynamic, so we cant blame them cant we?5: I have 2 gigabytes library over forex, and I still need to read like 100 so that means I have only read like 1.7 gigas
and im still searching to get enough money or participation to develop my 10% a day so newbs, learning is a continuous process, not a place to be6: the only thing magical in life is perception, correct perception means right, wrong one means not, you must not only need to be correct in your perception, you must be aware of your awareness, this is a dynamic process
7: I swear to you , to all of you, for the sake of the newbs that can one day be great, get rich quick: YES it can be done, easy? Hah youre better of joining a criminal cartel, its less risky than this job
8: forget about stability, about normalization, think adaptative, youre neural network (brain) is the most powerful machine we know of, but it has the most powerful handicap in this game, emotions
9: if I hadn’t learned what I know about stocks, options, binary options, futures, etfs, banks, etc I wouldn’t have tried such a strategy, and now a days, everything is free online, you just need to have the persistence to learn and look for new information
10: get revenge at the market? never, if you let your emotions get ahold of you ONCE you can seriously damage your capital
11: martingale? In short I tried it once at a casino online demo, I got 200% of my capital in 3 hours!! And guess what? Then the demo got lost with no money, martingale means piece of crap, the only way martingale works is with predictable algorithms go beyond M5 algorithm , and you will have more luck of predicting women than this market
12: this game is everything but gambling, there are still some people that have the ignorance to call this gambling, if you don’t investigate every single factor that affects pairs before you take desitions, then forget about forex, sell your laptop and try betting at horse races
13: if this is not for you, stop, this is the hardest job available, get something else and stop wasting your money
14:if youre in this for the long run seriously in the long run and give up, then your life will suck, because you will believe yourself to be of the 99% and we all know the erratic behavior of the masses don’t we
15: yes it can be done, it has been done before you and it will be done way after we are all dead
The thing about this is persistence, absolute persistence.
16: the truth is I don’t know about all those I got 999 billion dollars scratching my belly with this EA, I just pressed on, clicked on metatrader 4 installed the expert and I went to sleep
it might be.. but for experience it probably is just like martingale17: never believe yourself to be absolute right, there is no such thing, in the words of soros, is how you cut your losses short that you make money, not how much you win (trust me on this)
18: if anyone offers you seriously a big strategy, you need to get to work, and most likely the best of strategies believe it or not are found either free here in forex factory or with hedge funds that charge you a lot not a 1000$ bucks robot, unless the programmers are joking its a load a martingale =P
Good luck i have only worked 3 years almost daily trying some strategies but if i can be of asistance pm me no prob although im not a programmer
- #232
- Jun 28, 2012 8:33am Jun 28, 2012 8:33am
- Joined Apr 2008 | Status: Parsimony Rulez! | 3,216 Posts
I think for me , I had to become dumber, then I started to take my losses, and as I took my losses, I became richer. So I really hope I can become really dumb.
By teh way , how does one vote here?
Yep the first part of your plan seems to be working great!
I think too intelligent and you run the risk of over-analysing the crap out of everything and take failure of a trade/trading as a personal insult to you and your superior intelligence. Too dumb and you're totally at the mercy of the market and don't have the intelligence to listen to what it's telling you. There's a balance somewhere.....but I'm too dumb to know where that is.....
- #233
- Jul 1, 2012 10:36pm Jul 1, 2012 10:36pm
- Joined Sep 2010 | Status: Life Time Member | 6,685 Posts
- #236
- Jul 2, 2012 4:13am Jul 2, 2012 4:13am
- | Membership Revoked | Joined Aug 2006 | 11,977 Posts
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
