At What Point Do You Give Up On Forex

Thanks for the reply

Let me direct you to the thread on here that has delivered me most of what i've ever needed to learn about this market. "Trade what you see NOT what you want to see".

Search through 2500 pages of intraday trading using the approach described. Two traders in particular - "Infinity" and "EO Hater" - put it all out for you to see. They told you what they were looking at before price got there, where they thought price would turn, their live entries and their live trade management. Little bullshit, no fakery just great retail traders making an absolute killing.

I took me over 2 years to even begin to properly understand what it was that they were doing and why. Even now, I probably only really get half of their thinking. Some of it is just so contrary that it blows my mind. But, it's all there and it works.

The issue is, the bloke who started the thread - EO Hater - tried to explain his approach to people in the form of a PDF. Even when people read it a dozen times, it still wasn't clear. The reason for this only became clear as I went on my own voyage of discovery and began to piece it all together. The secret to their approach is blending every timeframe from Monthly down to M15. They had trained their brains to see and trade what is immediately happening but also to see it in the wider context of all the other timeframes. Their microscopic attention to detail could be the difference between them taking one trade that looks identical to another one that they don't take. It may be a close that is 2 pips lower that a previous close but the tiny detail is enough to invalidate the setup. To the naked eye, you could possibly never notice the difference and that's why your account shrinks and their account grows. It's really, really hard to document this level of attention to detail in a PDF.

It's a great big puzzle and one that genuinely isn't easy to work out but for those that want it bad enough and are willing and able to get their head around the puzzle, people can genuinely begin to find the whole think remarkably easy. How can something that seems so hard then become so easy? Think about learning a new instrument or a language and then keep on thinking....

here's the deal
i quit my job. jump to fx w/ micro account. been meet margin call 26 times
3 years and i'm still not quit

havnt followed that particular thread,but everthing you have just stated somes it up in a nutshell

Quit when you're no longer enjoying it. Regardless of your success. Whatever you do with your life, make sure it's something that you find rewarding. If it's not charts then don't waste your time.

I enjoy trading most when it's challenging. When I start winning, I honestly get bored. Trading with systems is a very mechanical approach. But the markets still keep me on my toes and throw a curve ball. Forcing me to learn new things and find new solutions. That's what I love about it most - it's not easy. But the irony is that once I start doing well, that rush is gone and I'm not motivated.

good answer

Vote

I see that 26 people say that they quit after trying everything that's possible. By their logic, then, it's impossible to ever become profitable at forex.

Suicide is the honorable way to stop

Possible to their capacity

I quit for life after 2 years of trying "everything possible" with no effect at all. So I figured out forex ain't worth my time. Got better things to do in life plus you can't really get rich just from forex trading. So I've decided to follow the way to riches with something that is guaranteed to work and has passed the test of time since ancient civilizations - have my own business

I will quit if my second account ends up like my first.

I am in a much better place once I understood the bigger picture of foreign exchange. Also, not understanding why I lost money in my first account was the primary reason it ended so poorly.

I think the question
At What Point DO You Give Up On Forex.
should be
At What Point Would You Give Up On Forex.
It makes it seem less eminent...LOL

I guess the simple answer is when trading forex is costing more than its worth to you.. whether it be emotionally, time, money, or living life in general....

Everyone wants the same thing .... to be happy.. Some use drugs, Some give of themselves. Some steal from others. Everything everybody does is because they think it will make them happy.. Sometimes they do things that they don't enjoy because it is the right thing to do.... but doing the right thing makes them happy.... some are happy just to trade and lose because they are not in it for money but for a challenge... it's entertainment...

I guess when we ask ourselves... "Would I be happier if I quit trading forex?" When you realize the answer may be yes... then quit and see.... if you find out you are not happier.... get back in it.... you can quit many times.....

The old adage is " It's better to be out of forex wishing you were in than in forex wishing you were out."

Do what makes you happy.. PipPip....JimDandy

when they reduce leverage to 1:5 and charge 30% tax on profits

Hopefully I'd all ready be rich by then and not care can just stop.

Saying that I was day trading Stocks on a way below the required 25K to daytrade stocks 11-12 years back when they stopped that dead out of the blue for me ( no Margin and shorts if you trade in and out same day, 3 times in a 5day period or something like that, forcing over night holds and exposure to gaps )

i wont be living in america when they do that

I'll second that. It's "funny" that there are still a few traders here that a few years ago were crying and whining for tighter regulations. Now they're wondering if they'll be regulated out of business.

If something needed to be regulated it was crocked brokers, (et al). Given recent events, this is perfectly obvious.

Individual, retail traders were not the cause of any financial disaster yet it was "dictated" that said traders be reined in while the likes of JPMorgan (et al) continue to do what they were doing.

Screw Dodd/Frank and the horses that carried them to "victory".

At What Point Do You Give Up On Forex I like you probably am pretty close to giving up on Forex. I have done a lot of hard things in my long life but this is the hardest as it just doesnt make since. One of the main problems with Forex is there is no true volume available. There is no central clearing house. Therefore i am close to switching to futures. That requires a whole new learning curve throwing away most of the years of trial, error, study, learning about Forex, but it might be worth it. I looked at Binary Options, but it appears you can not change your position once you enter - not good. I tried stock options, and commodity options some years ago, but that appears to be either a rigged game or insider knowledge game. I am starting to think the only people that make money in this game is those selling robots and systems. Otherwise why would the go to the trouble and give away their sol called secrets? I will subscribe to this thread (yet one more wont matter) and let you know if and when i change direction. JJ