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I lost 7k dollars and I am in a massive pain

  • #121
  • Nov 14, 2014 6:59pm Nov 14, 2014 6:59pm
Quoting Graviton
So you want to be financially independent, like a doctor, or a lawyer? How long do they have to study, 6 years, 8, 10? How much does their education cost, $40,000 or $80,000 or $100,000? There may be a few savants out there who can get rich in a year on $200, but I have never met one. Consider the $7,000 and one year a down payment on your Forex education, like the first year in college for a doctor. You are young and can easily change directions if you decide to later. I changed careers four times. After becoming a Journeyman in my trade, I quit...
  • #122
  • Nov 14, 2014 7:01pm Nov 14, 2014 7:01pm
Quoting jops
{quote} very good advice benaiah, thanks for sharing your method, it will help a lot of us newbies. it is really good to start on demo, then start 0.1 lot on live account when we are already consistently winning on demo. when we can't do it on live then go back to demo. i will do this cycle for 6mo. to 1yr. and only then if my trading journal is positive and convincing will i be increasing my lots using your support and resistance tactics. one year of reading forex books and forums will equip me with the right ammo to succeed in forex. thanks buddy....
Sounds like you are on the road to eventual success
  • #123
  • Nov 14, 2014 7:03pm Nov 14, 2014 7:03pm
Quoting Chicky
{quote} Why you want to smash dreams of many? OK. What about if I open a demo account, all trades and activities of that account visible and show you 12 consecutive green months?
You are most welcome to. By all means I encourage you (though if you haven't already, I question the reasoning behind your post and your ability to prove such).

And whoever said "don't dream"? It is worth having goals to aspire to, but do not let material possessions distract your focus. They will come automatically if you have patience, determination, resilience, fortitude, knowledge, understanding and focus.
  • #124
  • Nov 14, 2014 7:07pm Nov 14, 2014 7:07pm
Quoting bluepanther
{quote} You are most welcome to. By all means I encourage you (though if you haven't already, I question the reasoning behind your post and your ability to prove such).
This is human psychology. If you are at your best if competing. Making money is forex is not very difficult but controlling yourself from greed and fear is. As far as my ability is concerned, I can show you 12 green months even in the next 12 days, 12 hours or 12 minutes. Please Challenge me on that. You promise to pay my taxes and I post my statement here. Here is one example of one month:
Attached File(s)
File Type: pdf 1st place_aug 2008[1].pdf   32 KB | 627 downloads
The Thief of Wall Street
  • #125
  • Nov 14, 2014 7:10pm Nov 14, 2014 7:10pm
Quoting benaiah
{quote} Yes I am 44, and I will be 45 in a few days. Not sure why you would question this. And not sure what your intent is in responding to my post. Some of you're comments seem a little disrespectful, and you seem to be coming across like you have more knowledge and experience. Do you? Then share it. Why do you need to respond to what I say? Share your own view without attacking mine. Are you able to do that without coming across like a "know it all"? Because so far, your posts are borderline offensive. But I'm not sure if it might be because...
Intent - courtesy.
Do i know it all - no, i talk facts.
What is the problem? The use of 'you' and 'i'
Generally speaking - being wrong and not learning from mistakes is the single most important to learn in order to progress and not get stuck or keep moving in trading and life.
I don't like to think that i'm wrong. It is the method that needs refining. The most important part - conditions change, all the time.
Risk too much on a trade they think could never go wrong - yes, its how traders win big. Sometimes you just have to go with it. From what i know - from time to time when the time is right - professional, institutional traders put all the money on one single trade and sometimes they go over their limit. Reason - analysis. But they never over trade.
Learning part - i did end with a question.
I do not know the difference between what i said and what you said on patience and difference.
Why are you so much concerned with revenge trading?
A trade should be based on an assumption based on facts
  • #126
  • Nov 14, 2014 7:15pm Nov 14, 2014 7:15pm
Quoting Chicky
Some truths about forex business There indeed are ways to make reasonable returns in forex, but there are certain conditions. Condition #1. Leave the Time alone. Do not think how much time passes by before you get an entry or an exit. Market doesn't move every day, but when it moves, it moves several hundred pips in just few minutes. It never moves in a consistent manner. If Pa is choppy, don't think it would take weeks before it hits your sl or tp or with this pace you won't be able to meet your weekly/monthly profit target. Just leave the time...
Chicky - we click. High five!
A trade should be based on an assumption based on facts
  • #127
  • Nov 14, 2014 7:18pm Nov 14, 2014 7:18pm
Quoting Mave
{quote} Chicky - we click. High five!
The other day I was watching a US TV business talk show. Some forex trader was being interviewed. He mentioned about a retrace because market was at 61.8% fib. The interviewer kept on laughing even when the interview was over, nodding his head, as if saying why such an stupid person was asked to comment on market.
The Thief of Wall Street
  • #128
  • Nov 14, 2014 7:18pm Nov 14, 2014 7:18pm
Quoting Mave
{quote} Intent - courtesy. Do i know it all - no, i talk facts. What is the problem? The use of 'you' and 'i' Generally speaking - being wrong and not learning from mistakes is the single most important to learn in order to progress and not get stuck or keep moving in trading and life. I don't like to think that i'm wrong. It is the method that needs refining. The most important part - conditions change, all the time. Risk too much on a trade they think could never go wrong - yes, its how traders win big. Sometimes you just have to go with it. From...
What is the problem? I think I already said enough about it. If you don't see it by now, I give up on that. I certainly will not go back and forth trying to educate you on what "courtesy" really is and what it is not.

Besides, I also said I will give you the benefit of the doubt, since English is not your first language.

Edit: Also you seem to be defending yourself as if I questioned anything you posted regarding trading. I did not. The only thing I question is your intent in replying to me. I mean, come on, asking me if I'm lying about my age. Give me a break. Go troll someone else...
  • #129
  • Edited 7:30pm Nov 14, 2014 7:19pm | Edited 7:30pm
Quoting Chicky
{quote} This is human psychology. If you are at your best if competing. Making money is forex is not very difficult but controlling yourself from greed and fear is. As far as my ability is concerned, I can show you 12 green months even in the next 12 days, 12 hours or 12 minutes. Please Challenge me on that. You promise to pay my taxes and I post my statement here. Here is one example of one month: {image}
...impossible to show me in the next 12 minutes - forex market is closed!

Thanks for the PDF statement , but where's a myfxbook live account or investor login details for MT4?

(...truth be told, my August 2008 CFD statement looks not too dissimilar: turned my $4000 into $32,000 on AUDUSD in 4.5 days, but lost it on the Friday in two hours! I didn't keep my statement, I closed my account, and I don't know if CMC Markets would have kept records of closed accounts like mine - open for only a month! Easy come, easy go.)
  • #130
  • Nov 14, 2014 7:23pm Nov 14, 2014 7:23pm
Quoting bluepanther
{quote} ...impossible to show me in the next 12 minutes - forex market is closed! Thanks for the PDF statement , but where's a myfxbook live account or investor login details for MT4?
Where is my check for taxes?
The Thief of Wall Street
  • #131
  • Nov 14, 2014 7:27pm Nov 14, 2014 7:27pm
Quoting benaiah
{quote} Yes I am 44, and I will be 45 in a few days. Not sure why you would question this. And not sure what your intent is in responding to my post. Some of you're comments seem a little disrespectful, and you seem to be coming across like you have more knowledge and experience. Do you? Then share it. Why do you need to respond to what I say? Share your own view without attacking mine. Are you able to do that without coming across like a "know it all"? Because so far, your posts are borderline offensive. But I'm not sure if it might be because...

Well Said
  • #132
  • Nov 14, 2014 7:31pm Nov 14, 2014 7:31pm
Quoting Chicky
{quote} Where is my check for taxes?
...in the mail. (snail mail)
  • #133
  • Nov 14, 2014 7:32pm Nov 14, 2014 7:32pm
Quoting benaiah
{quote} What is the problem? I think I already said enough about it. If you don't see it by now, I give up on that. I certainly will not go back and forth trying to educate you on what "courtesy" really is and what it is not. Besides, I also said I will give you the benefit of the doubt, since English is not your first language. Edit: Also you seem to be defending yourself as if I questioned anything you posted regarding trading. I did not. The only thing I question is your intent in replying to me. I mean, come on, asking me if I'm lying about...
Benaiah, please calm down and check your profile.
The Thief of Wall Street
  • #134
  • Nov 14, 2014 7:33pm Nov 14, 2014 7:33pm
Quoting Chicky
{quote} The other day I was watching a US TV business talk show. Some forex trader was being interviewed. He mentioned about a retrace because market was at 61.8% fib. The interviewer kept on laughing even when the interview was over, nodding his head, as if saying why such an stupid person was asked to comment on market.
Becuase painting is a hobby?
A trade should be based on an assumption based on facts
  • #135
  • Nov 14, 2014 7:39pm Nov 14, 2014 7:39pm
hi all I also learnt the hard way in this game , just a note I now trade exotics , like usd/zar usd/try and any other with a large sell swap I use a day chart and weekly chart to find the tops when it nears I start usd/zar sell around 11.2700 with small lots .05 then if it moves higher .10 lots 11.2900 and 11.3300 usd/try sells , 2.2600 then 2.2650 and 2.2725 and 2.2800 , these are my standard orders on my mt4 so when they hit I get my order and wait for the fall I do not trade these pairs for buys swaps will kill your account , doing your home work on historical highs and lows can be a profitable area for all traders and checking the swaps if you need to hold for a few weeks , what goes up must come down and what goes down must go up its all in the charts for you to see , hope this will help its my only piece of cake
people leave, but this thread will go on for ever
  • #136
  • Nov 14, 2014 7:41pm Nov 14, 2014 7:41pm
Quoting benaiah
{quote} What is the problem? I think I already said enough about it. If you don't see it by now, I give up on that. I certainly will not go back and forth trying to educate you on what "courtesy" really is and what it is not. Besides, I also said I will give you the benefit of the doubt, since English is not your first language. Edit: Also you seem to be defending yourself as if I questioned anything you posted regarding trading. I did not. The only thing I question is your intent in replying to me. I mean, come on, asking me if I'm lying about...
You asked too many qquestions and gave me the benefit. First things come first.
Why will you not educate me on what courtesy really is - you are 44.
You have to decide if i'm attacking or defending.
Age is just a no.
This thread is a result of trolling. Take my word.
A trade should be based on an assumption based on facts
  • #137
  • Nov 14, 2014 7:46pm Nov 14, 2014 7:46pm
Quoting Mave
{quote} You asked too many qquestions and gave me the benefit. First things come first. Why will you not educate me on what courtesy really is - you are 44. You have to decide if i'm attacking or defending. Age is just a no. This thread is a result of trolling. Take my word.
Mave, There was a guy here on these threads by the name of Peter Crown, then there was another guy by the name X.Oden, then there were many other ............ They contributed a lot but they finally left disappointed. Let's not repeat this practice here. No hard feelings, we are all friends here, only with different opinions.
The Thief of Wall Street
  • #138
  • Nov 14, 2014 7:50pm Nov 14, 2014 7:50pm
I didn't read everything in this thread, but seems like you got a bit over-confident. Remember this, unless you have a million dollar account, you are just a small fish. Have a little fear, it goes a long way.
Be like water making its way through cracks.
  • #139
  • Nov 14, 2014 7:53pm Nov 14, 2014 7:53pm
Quoting Mave
{quote} Becuase painting is a hobby?
Profession for some. Technicals do work, but for short moves. There is a great logic in it. If they seem to work on bigger moves, it is only because robots and natural persons have entered on a key level but the direction comes from fundamentals. It is not technicals that take the market 1,000 pips higher or lower, but the fundamentals. Technicals only provide an entry or exit point. One should not confuse these two things. They are quite different.
The Thief of Wall Street
  • #140
  • Nov 14, 2014 7:57pm Nov 14, 2014 7:57pm
Quoting Chicky
{quote} Mave, There was a guy here on these threads by the name of Peter Crown, then there was another guy by the name X.Oden, then there were many other ............ They contributed a lot but they finally left disappointed. Let's not repeat this practice here. No hard feelings, we are all friends here, only with different opinions.
Sure. But some of the things said cannot be taken lightly.
A trade should be based on an assumption based on facts
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