so wht ,can it just happen to me ?!! | Forex Factory

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so wht ,can it just happen to me ?!!

  • #1
  • First Post: Jun 5, 2006 3:01pm Jun 5, 2006 3:01pm
hi everybody ,it's my first time I write to this great forum after monitoring for a time tht is not too short

anyway,I am on the demo trading now and I am doing well -not so great but good enough -but reading some articles on the internet tht says things like 90% OF TRADERS LOSE THIER MONEY makes me terrified of real time trading - c if 90% lose wht makes me out of tht percentage ,I know tht u have had experience of tht kind ,so honestly if there's an indicator tht tells tht I would be a WINNER OR LOSER ,plz tell
i want to know when iam ready for real money trading ,wht is the losing percantge I should expect ,u know wht I am talking about

anyway,thx for ur time,U R THE BEST !!
  • #2
  • Jun 5, 2006 3:05pm Jun 5, 2006 3:05pm
i guess u should try with risk calculator.. it will tell you the percentage of winning or losing trade..

happy trading
  • #3
  • Jun 5, 2006 3:22pm Jun 5, 2006 3:22pm
I think the main difference between simultion and real trading are emotions.
I guess mostly of people, like me, have the illusion that make money with forex is very easy until they trade in simulation, this because when you trade with not real money you are willing to let your trade go into profit as you are very relax and are not able to consider that if that would be your real money you couldn't stand seeing for instance an open trade down of 500 $ without getting in panic.
Im afraid the only way to learn how to trade and learn how to manage risk is when you loose real money. This was my path, I had to loose 50% of my money to understand what I was doing.
For sure making money with forex is not that easy, but the good thing is that the more you earn, the more you are 'willing to risk' and for me its a kind of loop , because if you are already positive in your account, with a proper money management , you can better menage your emotions and risk into trades you believe in.
I suggest you when you start with real money to start with micro lots, so when you will be ready to trade seriously you will still have enought money on the account.
Good trade
  • #4
  • Jun 5, 2006 3:42pm Jun 5, 2006 3:42pm
Just keep at it and learn with demo...then u can do the micro lots and feel what its like to lose real. keep at it GL


Quoting soft007mood
hi everybody ,it's my first time I write to this great forum after monitoring for a time tht is not too short

anyway,I am on the demo trading now and I am doing well -not so great but good enough -but reading some articles on the internet tht says things like 90% OF TRADERS LOSE THIER MONEY makes me terrified of real time trading - c if 90% lose wht makes me out of tht percentage ,I know tht u have had experience of tht kind ,so honestly if there's an indicator tht tells tht I would be a WINNER OR LOSER ,plz tell
i want to know when iam ready for real money trading ,wht is the losing percantge I should expect ,u know wht I am talking about

anyway,thx for ur time,U R THE BEST !!
  • #5
  • Jun 6, 2006 1:10pm Jun 6, 2006 1:10pm
90% of ALL business fail in the first year. So relax. At least you are not dumping your money into a resturaunt that serves monkey brains.
Nolite dormiens pungere ursum. -- Latan Proverb.
  • #6
  • Jun 6, 2006 1:26pm Jun 6, 2006 1:26pm
90% OF TRADERS LOSE Because there's A Great Enemy Called F.E.A.R

"Fear Is My Killer"
Charting Markets into the Future...MǎҖ€¥.
  • #7
  • Jun 6, 2006 2:31pm Jun 6, 2006 2:31pm
F.E.A.R

I like it man
  • #8
  • Jun 6, 2006 3:31pm Jun 6, 2006 3:31pm
Ah Grasshoppers, Knowledge and true wizzdom will cast out all fear.

We fear what we do not know. We fear the dark because we cannot see.

When we light a candle, the room is still there, just as it was when it was dark. But we feel better with the candle because we have knwledge of the room. Spend a weekend blind. I mean really blind. blindfold yourself and do not cheat. You will be suprised how well you do. (Especally if you have a small apartment and no kids.) This excersize will really open your eyes to the trap of fear. At first you will be afraid of every thing. By the end of the third day you will think that you are ready to go out on the street. Try it, I am not kidding!

In trading we can do the same thing. Trade naked. Don't use any indicators. Put up your charts and just use price action alone. Use a demo account at first then try it with a bit of real money. Your stomach will do flip-flops at first, just like the first couple of hours with the blindfold, but there is a big payoff in the end.
Nolite dormiens pungere ursum. -- Latan Proverb.
  • #9
  • Jun 6, 2006 3:53pm Jun 6, 2006 3:53pm
Quoting soft007mood
hi everybody ,it's my first time I write to this great forum after monitoring for a time tht is not too short

anyway,I am on the demo trading now and I am doing well -not so great but good enough -but reading some articles on the internet tht says things like 90% OF TRADERS LOSE THIER MONEY makes me terrified of real time trading - c if 90% lose wht makes me out of tht percentage ,I know tht u have had experience of tht kind ,so honestly if there's an indicator tht tells tht I would be a WINNER OR LOSER ,plz tell
i want to know when iam ready for real money trading ,wht is the losing percantge I should expect ,u know wht I am talking about

anyway,thx for ur time,U R THE BEST !!
Soft007

Your concern is a totally valid concern.

I believe, and im sure other posters in the FF would agree with me. It all comes down to confidence.

If you start getting caught up in all the negative statistics, it will only make trading forex harder than what it already is.

Confidence is the major contributor to anyones performance in anything.

Just have a crack, it wont kill you

Cheers,

Rusty
  • #10
  • Jun 6, 2006 5:09pm Jun 6, 2006 5:09pm
:surprised I can absolutely guarantee you that you will lose money when you start. It's impossible to play and not lose some of the time. The thing I find important is to trade with mini or microlots of real cash.

The demo is great for learning the platform, practicing proper entry of orders, etc. But real cash is required to really experience trading. Real cash going down the drain gets your attention a helluva lot faster than simulation. The sick feeling when you click the wrong button and lose cash. The sicker feeling you get when you are tracking the wrong currency pair on your chart, enter an absolutely wrong trade and it makes money confirming your fear that you are not really sure what you are doing.
O crud, I need a Valium just thinking about it.

good luck
  • #11
  • Jun 6, 2006 7:24pm Jun 6, 2006 7:24pm
micro lot is highly recommended. you feel more connected with each moves if you put down real money to trade.
  • #12
  • Edited 7:55pm Jun 6, 2006 7:48pm | Edited 7:55pm
Quoting MrWhipple
Ah Grasshoppers, Knowledge and true wizzdom will cast out all fear.

We fear what we do not know. We fear the dark because we cannot see.

When we light a candle, the room is still there, just as it was when it was dark. But we feel better with the candle because we have knwledge of the room. Spend a weekend blind. I mean really blind. blindfold yourself and do not cheat. You will be suprised how well you do. (Especally if you have a small apartment and no kids.) This excersize will really open your eyes to the trap of fear. At first you will be afraid of every thing. By the end of the third day you will think that you are ready to go out on the street. Try it, I am not kidding!

In trading we can do the same thing. Trade naked. Don't use any indicators. Put up your charts and just use price action alone. Use a demo account at first then try it with a bit of real money. Your stomach will do flip-flops at first, just like the first couple of hours with the blindfold, but there is a big payoff in the end.
Is that a bearish or bullish candle?

Seriously, I think this is a great post Mr. Charmin Squeezer. If you don't mind, I'd like to add this to one of the stickies in the Beginners Forum. Zat OK?

I put it in the Trader Psychology Thread.

Dial
sxaxlxvxaxtxixoxnxbxyxgxrxaxcxexdxoxtxoxrxgx
  • #13
  • Jun 7, 2006 4:46am Jun 7, 2006 4:46am
regarding fear and all that...as dr. whipple has pointed out already, fear come from the unknown...the prob with trading is, that for every SINGLE trade, the outcome is and will ever be unknown...theres just no way to replace that, uncertainty is the name of the game....but, while the outcome of any single trade is unknown, you can paint a picture of the aggregated outcome of 1000 trades made by a certain sytem or setup or method..thats why you should step back from any single trade and say: "this is only one trade out of the next 1000 trades i will make..." this is how you can overplay the fear

...of course, things change , if you want to DOUBLE your account on any "great" opportunity you spot...unfortunatly, this way, fear will be your guest for a long time
  • #14
  • Jun 7, 2006 5:16am Jun 7, 2006 5:16am
So I see 2 ways to destroy F.E.A.R

- Play on the news: in few minutes you will know if you will profit or loose, and the big advantage to kill 'fear' in this kind of operativioty is that you already put on the 'poker table' (with a tight stop loss) what you are willing to loose. Anyway risk/reward is better then in any other trade with 'big amounts'

- play on a medium-long term, in a way that even a -150 pips against you dont scare you too much, but are seen as a new good occasion to correct the entry price. Start with 25% of the amount you want to risk on that trade, and if it goes against you keep correcting it , to make the best entry price.
In this way you can be very relaxed, and will not care about speculative movements. Consider that your 100% capital invested in the trade anyway must not be too high.
Ofcourse in such trades you must at least have the idea of the macro trend

As Im not very patient person I dont use very much the second option, but Im starting to consider it
So let say in the second way, you treat forex a bit more like stock market
  • #15
  • Jun 7, 2006 5:48am Jun 7, 2006 5:48am
I think the second metohod is used from many experienced traders

I dont believe it worth to loose so much time ,energy, patience in very short term trades
  • #16
  • Jun 7, 2006 9:37am Jun 7, 2006 9:37am
Growing means going through fear. It is compulsory for a human being.
If your intention is to become a great trader you will have to pass the tunnel. I am in it now...but knowing where I am helps a lot.
As a friend of mine says: "the only free cheese is in the mouse trap". No shortcuts really, just balls.
The sooner you go through it the better, and then, the sooner you will start making money with no fear.
Make your own rules for trading. Experience. Learn always and you will succeed. Garanteed.
  • #17
  • Jun 7, 2006 9:41am Jun 7, 2006 9:41am
Quoting diallist
Is that a bearish or bullish candle?

Seriously, I think this is a great post Mr. Charmin Squeezer. If you don't mind, I'd like to add this to one of the stickies in the Beginners Forum. Zat OK?

I put it in the Trader Psychology Thread.

Dial
it's ok with me
Nolite dormiens pungere ursum. -- Latan Proverb.
  • #18
  • Last Post: Jun 7, 2006 11:54am Jun 7, 2006 11:54am
Quoting soft007mood
hi everybody ,it's my first time I write to this great forum after monitoring for a time tht is not too short

(...)

I know tht u have had experience of tht kind ,so honestly if there's an indicator tht tells tht I would be a WINNER OR LOSER ,plz tell
There is NO single indicator that will tell you what to do. And if you combine them, it only gets more confusing.

Keep it simple. Use price action. Tell us how you are doing (that really helps, and not only you). And stick around this Forum. Good luck!

Dane
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