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At What Point Do You Give Up On Forex

  • #441
  • May 26, 2014 1:24am May 26, 2014 1:24am
give up when you lost your last dime your house your car and your family http://www.easyfreesmileys.com/smile...mileys-430.gif
  • #442
  • May 26, 2014 2:59am May 26, 2014 2:59am
I gave up fx this year, only trade OIL and GLD now.
  • #443
  • May 26, 2014 7:17am May 26, 2014 7:17am
Quoting PoundTrader
give up when you lost your last dime your house your car and your family {image}
But be sure to keep the dog. Never loose the dog. At that point, you'll need a really good friend.
Ghost Rider - WWTBMD?
  • #444
  • May 26, 2014 9:58am May 26, 2014 9:58am
hi everyone,

i got addictive to it i have lost a huge amount of money in it and still trying to be successful i have lost about $50,000 in this market in 2008-2009. the reason for that loss was over trading i kept adding my losing positions with the hope to come back but they never came and my all money gone in it that was a very big amount of money for me the loss was un-tolerable but still trying to be successful i have got addicted to it its like the casino where you go every day with the hope to win. i was a businessman but now i am doing a job and i have opened an account with my savings but i am not willing to quit it coz my father used to say where you lose there you win (except your good will ). if you will leave the ground, that day will never come when you would win so i am trying to be successful. i am little bit profitable now coz i have spent countless hours watching charts.
MRMALIK1
  • #445
  • May 26, 2014 10:24am May 26, 2014 10:24am
Quoting mrmalik1
hi everyone, i got addictive to it i have lost a huge amount of money in it and still trying to be successful i have lost about $50,000 in this market in 2008-2009. the reason for that loss was over trading i kept adding my losing positions with the hope to come back but they never came and my all money gone in it that was a very big amount of money for me the loss was un-tolerable but still trying to be successful i have got addicted to it its like the casino where you go every day with the hope to win. i was a businessman but now i am doing a...
Demo first and try to get the strategy, then start with a small account and go from there. Do not put money into forex unless you have learned a lot about it. Good Luck.
Being a trader is lonely, but being a great trader is lonelier still
  • #446
  • May 26, 2014 10:52am May 26, 2014 10:52am
Wow Pound Trader, you've kept this baby going a while!

I don't think you can ever give up on forex?!,..or trading in general.

Sitting in rags beats being a slave.

Smiler
Keep It Simple Stupid
  • #447
  • May 26, 2014 11:24am May 26, 2014 11:24am
Putting it another way: At what point do you give up trying to make it and just play it. Cheers.
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #448
  • May 26, 2014 11:42am May 26, 2014 11:42am
Quoting soso
Putting it another way: At what point do you give up trying to make it and just play it. Cheers.
I like that! And your signature...
Ghost Rider - WWTBMD?
  • #449
  • May 27, 2014 11:23am May 27, 2014 11:23am
Quoting soso
Putting it another way: At what point do you give up trying to make it and just play it. Cheers.
Exactly.
  • #450
  • May 27, 2014 12:08pm May 27, 2014 12:08pm
we all can make it
Inserted Video
  • #451
  • May 27, 2014 2:22pm May 27, 2014 2:22pm
There is more to the markets than just forex, if you're hitting a dead-end... try looking into other markets/instruments/asset classes. They are all connected so it's time well spent.
  • #452
  • May 28, 2014 3:58am May 28, 2014 3:58am
Quoting TranceTrader
There is more to the markets than just forex, if you're hitting a dead-end... try looking into other markets/instruments/asset classes. They are all connected so it's time well spent.
  • #453
  • May 28, 2014 2:09pm May 28, 2014 2:09pm
Quoting saneblane
{quote} Demo first and try to get the strategy, then start with a small account and go from there. Do not put money into forex unless you have learned a lot about it. Good Luck.

thanks,
MRMALIK1
  • #454
  • Dec 9, 2016 7:29am Dec 9, 2016 7:29am
lost all ASSET, Liabilities stack like mountain high
Let Market Tell You
  • #455
  • Dec 9, 2016 7:20pm Dec 9, 2016 7:20pm
Hi all, I think this thread is asking the wrong question. It shouldn't be when do I give up, but rather what am I doing that isn't working?

From personal experience, I've been trading since 2010, and for the first 4.5 years of trading forex, I sucked and lost a lot of money trying different systems, but I kept jumping from system to system and never stuck at and mastered one of them. But, during this period of time, I learnt how to read the market and I applied what I learnt in Forex to direct shares and made over $50k in 18 months. It taught me that it wasn't the system that was the issue, it was me as I was never disciplined with my forex trading as it was way too easy to get in and out of the market with way too much leverage.

Since then I'm just running one 95% automated robot - it makes money, but I only step in when I need to manage the drawdown, and I've built software that allows me to identify good trade setups myself, then input how the trade is to be opened, managed, and ultimately closed and I walk away and let the software do the rest. It means I'm making a rational decision at the start, then handing the driving of the trade to a unemotional piece of software. My biggest enemy was me, and I assume it's the same with a lot of traders out there so I took myself out of the drivers seat once I've identified a potential setup.
  • #456
  • Dec 11, 2016 6:44pm Dec 11, 2016 6:44pm
Quoting Ill-b-back
{quote} Never damn it, forex is like heroin. My wife leaves, job is lost, house is gone, you'll find me under a rock with my laptop.... Slowely going insane...
well it looks like i've made it thnks Ill be back
  • #457
  • Dec 11, 2016 8:38pm Dec 11, 2016 8:38pm
Quoting Anti_Losses
It is quite possible for a number of ordinary ppl to be able to trade for a living. I guess a few things that need to do in order to have a higher chance of success in it. 1) Focus on 1 product first (Advice given to me by a senior) 2) Lots of screen time (This includes different TF of the "1 product" that you are looking at) 3) Patience 4) Money Management (SL, TP all thought out and backup plans on what if situation occurs) 5) Start from small capital base 6) Looking at the historical data of that "1 product" 7) Proper usage of leverage. This...
Thumbs up !
Re quote
...
  • #458
  • Dec 11, 2016 11:28pm Dec 11, 2016 11:28pm
Quoting Mm8
{quote} well it looks like i've made it thnks Ill be back
congratulations

Come with me if you want to live....
  • #459
  • Jul 12, 2017 8:39pm Jul 12, 2017 8:39pm
I am not at stage where quitting option is not available. Now, I am prepared for everything so whether I end up bankrupt or I end up millionaire/billionaire, I am sure of continuing in trading as long as I have been allotted this life. As they say once a trader, always a trader! It’s also a business of such high quality that you must not give up unless situation is just not correctable.
  • #460
  • Jul 12, 2017 11:23pm Jul 12, 2017 11:23pm
Quoting swingtraderf
You never give up until you lose!
until you lose everything ?
...
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