I lost 7k dollars and I am in a massive pain | Page 8 | Forex Factory

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

  • #141
  • Nov 14, 2014 7:58pm Nov 14, 2014 7:58pm
Quoting Mave
{quote} Sure. But some of the things said cannot be taken lightly.
Check my ignore list.
The Thief of Wall Street
  • #142
  • Nov 14, 2014 7:59pm Nov 14, 2014 7:59pm
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.
I am kindly requesting that you keep your posts on the topic of this thread and about trading. Any reply to me that is not about trading will be considered antagonistic and will be flagged for the moderators. Thank you.
  • #143
  • Nov 14, 2014 8:02pm Nov 14, 2014 8:02pm
Quoting Chicky
{quote} Check my ignore list.
A trade should be based on an assumption based on facts
  • #144
  • Nov 14, 2014 8:08pm Nov 14, 2014 8:08pm
how could you blew your account? What leverage did you use? I use 1:50 and i think it's very hard to blow an account, the highest lost i can face is 10% of my account and it haven't happened yet. I have 5% profit to cover if i lost, if it's turn to losses i will not continue trading, what's the point if you trade and it's not profitable
  • #145
  • Nov 14, 2014 11:12pm Nov 14, 2014 11:12pm
Quoting rajjarindo
I could feel your pain Buddy. I have the same feeling now actually. 8 years ago, I started forex, using marketiva.com. but then I wanted it serious, so I joined forex.com . First start, I put $1,000 and made about $170 in 2 days. What a wonderful feeling, right. I thought I really found how to be wealthy by doing it. Then the next week, I doubled it, I didnt make it. Lost almost all money. I then tried to find out what went wrong, read many article, tricks how to do forex. Then I gained my confidence back. But I lost money again. I stopped it for...
The way you end bodes well; not saying no pain ahead.

Consider this: read an article yesterday about a young couple (Christian) in Pakistan who were thrown by a group into a kiln, where they burned to death. There was a picture of them: handsome, beautiful, modest, her arm in his, he tall, she in pink, he serious, she gentle and serious, both dressed in traditional garb.

We have no suffering compared with their martyrdom for their religion, and no comparable glory, either. You can move on; so can the rest of us. Evidently that couple had accomplished everything they needed in terms of lessons. They met the challenge and went on to what I am sure is great glory.

Forex works as a vehicle for lessons for lots and lots of people. This couple's lessons were in a completely different realm.
  • #146
  • Nov 14, 2014 11:15pm Nov 14, 2014 11:15pm
Crying over 7k? That's like a weekend vegas trip
  • #147
  • Nov 14, 2014 11:49pm Nov 14, 2014 11:49pm
Quoting Acroix70
Crying over 7k? That's like a weekend vegas trip
the guy is not crying hes asking good people how to overcome the greed you how ever decided not to help and vegas is not the answer
people leave, but this thread will go on for ever
  • #148
  • Nov 15, 2014 12:12am Nov 15, 2014 12:12am
Quoting Aussi
{quote} the guy is not crying hes asking good people how to overcome the greed you how ever decided not to help and vegas is not the answer
I lost 16k usd with this eur/usd landslide , as long as you learn something from money lost in forex and never repeat that mistake, then its money well spent
  • #149
  • Nov 15, 2014 12:33am Nov 15, 2014 12:33am
When i first started trading forex i turned a 900 dollar account into $5600 in ten days while staying with friends over a christmas break. We sat around the pool with the laptop on and traded chart patterns.
When i got home ,i went out for a nine hour lunch/dinner came home and thought i would trade the New York open. i was pretty much tanked to the eyeballs and placed 4 lots on a signal. I soon learned about a thing called NFP and dropped $5000 in about 2 minutes. OOPS ,closed the laptop and went to bed.

At the end of the day its only money.

Cheers

Paul
  • #150
  • Nov 15, 2014 2:10am Nov 15, 2014 2:10am
Quoting Pipmuch
{quote} I lost 16k usd with this eur/usd landslide , as long as you learn something from money lost in forex and never repeat that mistake, then its money well spent
Aka paying tuition
  • #151
  • Nov 15, 2014 2:30am Nov 15, 2014 2:30am
Quoting Pipmuch
{quote} I lost 16k usd with this eur/usd landslide , as long as you learn something from money lost in forex and never repeat that mistake, then its money well spent
I agree learning is a pain and cost people money this is a post I did earlier , I learnt what do you think .

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

  1. Nov 15, 2014 12:41pm (

people leave, but this thread will go on for ever
  • #152
  • Edited 4:09am Nov 15, 2014 2:46am | Edited 4:09am
He won't recover it from trading. 7 grand is not that much money; it can be recovered via savings from a real job as a debt to himself that has to be repaid... or written off as bad experience... and life goes on.

As a trader / speculator the financial markets are designed to take your money. The market always wins in the end.
Some people last a few days, others a few years. The market always takes it back and some...
Even if you make millions (BTW it will be with OPM not from trading), you will become corrupted and develop suicidal tendencies that some act upon.

The only way to make a fortune is by providing useful and honest goods and services.

Now, I am not saying it's not possible to make a few pips here and there... as a game (even I can do that and I am the worst of the worst)
Losing is the norm. Winning is an aberration that the market quickly corrects.

May you succeed in making this aberration become your norm!
  • #153
  • Nov 15, 2014 3:03am Nov 15, 2014 3:03am
Quoting Mingary
He won't recover it from trading. 7 grand is not that much money. It can only be recovered via savings from a real job as a debt to himself that has to be repaid... or written off The purpose of the financial markets are to take your money. The market always wins in the end. Some people last a few days, others a few years. The market always takes it back and some... Even if you make millions (BTW it will be with OPM not from trading), you will become corrupted and die by suicide. The only way to make a fortune is by providing useful and honest goods...
hi mate we all take the wrong path at times its having enough money to weather the storm people get greedy that's the downfall
people leave, but this thread will go on for ever
  • #154
  • Nov 15, 2014 4:09am Nov 15, 2014 4:09am
Hi
I do not wanna disappoint you, but you have to bear in mind these guidelines if U really wanna get profit in this market

Never follow of those Traders in any sites using more than 4 indicators and just stick to Technical or fundamental method

Never follow those Traders who can not predict Market beforehand cause they don't have clear Big Picture of market

Broker is very important and U have to be familiar to his behavior whenever Traders get profit, cause they follow some procedures to stop traders for doubling their account, for instance :
Never try to open position at the time of candles moving Up or Down quickly, cause Brokers open position in a very bad level
another thing that is very critical and important :
After getting profit never tempted to open another position even you are sure about the direction (at least for 1 Hour) of market or in another word never over trading in any cost

Try to consider amount of getting profit per day or better to say make money each day and stick to it (loss as well)

There are some rules for making money and find out about market direction not by drawing some lines or using funny Elliot or Fibo or .... funny Methods which none of them is in the head of Market Movers (Banks and Big Nose people in this Business) as you can see none of these strategies are even 60% successful in this site
May i talk about them latter
Have Fun
Kami
Don’t follow someone else’s trading advice blindly
  • #155
  • Nov 15, 2014 4:52am Nov 15, 2014 4:52am
I lost around as much as you. But I know my pitfalls. My problem was that I could not acknowledge that I took a wrong position.
Resulting in single trades with 400 in red, and opening newer to averaging (Which caused more losses).
I also tend to open positions that were too big for my balance.
Nowadays I take it more easy and don't have problems closing a losing position. To other people I always say that trading is
a battle with yourself. Just don't risk too much on a single trade and close it if your position did not go the way you thought it would go.
Every cent earned is one step closer to independence
  • #156
  • Nov 15, 2014 8:51am Nov 15, 2014 8:51am
Waw look at that money lost, but look at all the attention you have made.
I have something to share too, i started trading not too long time ago (approximately: 3months now) my first 200 dollars where swiped away, my second 500 that i turned to 1500 in just 3 days got melted down, and then I decided to trade my euro tour funds (which i lost, all of them) so i took a 1000 pip step back, and got my self back to the ABC's because I'm stupid, and in deep trouble, now I got the ability to maintain logic while trading and never think of how much money I'm making, but how my strategies are doing, and i never look or now how much money i gain from every trade, FU*K IT... learn more, discipline your self, and you will succeed.
  • #157
  • Edited 12:23pm Nov 15, 2014 9:04am | Edited 12:23pm
Most of people thought get rich quickly by trading, that why they disappoint with their small profits. I trade for my comfortable life, if profit from trading can bear my monthy utility bills or other small spending such as gasoline cigarette lunch... bla bla... then i'm happy with that because i don't toutch the money from my primary day job. Why you need much, much and much money instead comfortable life. Money is good, but not for all. Your life is more than everything. Just keep trading today for basic living cost tomorrow.

Most of people wanna do the trading job now but impatient for study. Same other majority courses you take from college school, how much time and money you paid to, at least 2 years and let's see... more than $30k, but nobody guaranteed you have job and how much salary you want. I was trade stock options before i trade forex, althought i had experiences with price action, read chart.... i lost first $100 in 1 week when i jumped in forex. I deposited another $100 to IBFX micro account, continue study in next 3 years, i thought i would loose all that $100 but after 3 years practiced, i lost $50. Fifty dollars and 3 years study, not bad isn't it ?

In 3 years "school", i saved money for trading and now i can trade for my living cost. I live normal, i'm happy with my life, i have one more income source, i don't scare my company (will) lay me off as most of people who depend on only one paycheck. I don't think i will to be millionaire. I just create more income sources to secure my life, my family.

Althought trading market is a huge business but i don't depend on it 100%. It's just a one of my income sources, i have other business beside trading market.
"Trading market" doesn't make you rich quickly, it's just make you feel comfortable in your life. The only one is Saving can make you rich.

That's all my story.
BullShit BearShit
  • #158
  • Nov 15, 2014 9:48am Nov 15, 2014 9:48am
Losing 7k$ in a day is indication of very poor money management. But don't be in a massive pain, you need to learn the lessons. You need to learn the "universal" principles. One of them is, if you risk too much, you loose too much, that affects your psychology and then you loose it all. Or you loose it all directly. Appreciate the market which let you learn those lessons quickly, the pain could be much worse if you lose 1M$.

Learn and grow!
Love the game, love the markets!
  • #159
  • Nov 15, 2014 12:05pm Nov 15, 2014 12:05pm
Quoting Mingary
He won't recover it from trading. 7 grand is not that much money; it can be recovered via savings from a real job as a debt to himself that has to be repaid... or written off as bad experience... and life goes on. As a trader / speculator the financial markets are designed to take your money. The market always wins in the end. Some people last a few days, others a few years. The market always takes it back and some... Even if you make millions (BTW it will be with OPM not from trading), you will become corrupted and develop suicidal tendencies that...
It's very doable. As I have been doing last 10yrs. Financial markets are not casinos. This is not gambling. First of all get that through your bitter skull.

Trading is a full time job. This is not investing, trading. In and out the same day, fully taking advantage of IRS 60/40 treatment. Takes patience, years of practice and nerves of steel. You can make a very good living full time trading forex.

Small gains and smaller losses, end up in profit at the end of the month. There is no 'doubling' , 'tripling accounts' here. That's called gambling. As an example ; if you can not take a $100 profit and then a $20 loss and end up the day with $80 profit and be happy. Then you're not cut out for this job.
  • #160
  • Nov 15, 2014 2:49pm Nov 15, 2014 2:49pm
Amuse me.
A trade should be based on an assumption based on facts
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