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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

  • #161
  • Nov 15, 2014 2:53pm Nov 15, 2014 2:53pm
Quoting cenetti
{quote} 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....
Very true, however doubling the account part is simply a matter of risk management and if your winners are much better than losses, you will double account and triple and quadrupole an account, especially with forex. Unless you mean overnight..
All posts are my personal opinion
  • #162
  • Nov 15, 2014 3:07pm Nov 15, 2014 3:07pm
Quoting ZaiKo
Hello everybody, I am new to posting, but not to forexfactory, I read a lot everyday in the forums, but never the opportunity to post. I am a 21 year old student right now and for me making money is pretty much null. However I have been experiencing Forex trading for about 1 year since I started learning a lot. I would like to tell you my long story, and yes, I know 1 year isn't a lot, but I really trained hard this 1 year and all the end I am pretty much disappointed. I like to post this to hear what you think about and because as I have also read...
Zaiko...buddy..
you made only ONE single mistake - not withdrawing earned profit. period.

(cause if you did withdraw you wouldnt act in greedy way which destroyed your account).
always draw trendlines
  • #163
  • Nov 15, 2014 3:23pm Nov 15, 2014 3:23pm
Quoting Rtm
{quote} Very true, however doubling the account part is simply a matter of risk management and if your winners are much better than losses, you will double account and triple and quadrupole an account, especially with forex. Unless you mean overnight..
Well of course, over the years i have taken the profits off the table each month, kept the capital. I probably did 10X of what I started with. But I am talking about people looking to double, triple in a few months here and then become millionaires... that's not how you survive in this business.

It took me a long time but I learned to make $50 a day first , then $100, then $200.... when I say 'a day' I mean every day, 5 days a week. Asia open to NY mid session. Not chasing 'home runs'.... That's the key to success in this business. Consistency.
  • #164
  • Nov 15, 2014 4:17pm Nov 15, 2014 4:17pm
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...

Go away. You shit up every thread with your doom and gloom. Sorry you aren't making money trading. That doesn't mean everyone else can't
  • #165
  • Edited 4:39pm Nov 15, 2014 4:27pm | Edited 4:39pm
$7000 today, $1 million tomorrow. Hey, what difference does it make?

Keep putting money in because the markets need liquidity! I can show you how it's done!

And some day you may become an accomplished loser like me!

"The difference between an experienced trader and a beginner is that the former has lost more money."


The point is: don't give up just yet - you have only just started! The secret to staying positive is to keep believing you will one day make it (even if you don't), regardless of how much you lose.
  • #166
  • Nov 15, 2014 5:01pm Nov 15, 2014 5:01pm
You did 200 to 7k?....you are a god!!! Strut around with your head high and revel in life.

If you made 2 mill. from a 2k investment and bought a house for 400k and it went down in value to 200k, would you consider your loss a loser?

Buy a lottery ticket for a dollar and see what happens...some people actually do win. I turned 10 dollars into 10k and it didn't make me a lottery expert. I look at the market the same way... I have held some "series such and such" licenses and I am still not considered an expert nor am I "rich" in todays terms. I can't go buy the airplane I want so I have not been very successful. Hell, some of the MM's and hedgefund managers spend more money in aircraft fuel than I make in a year...

Put 100 dollars into a trade from MONTHLY charts and sit back and wait for 10 years and call yourself a trader then...

I have tried these trading systems........

1. Ken Roberts 1-2-3 tops and bottoms.
2. Wade Cook
3. Millionaire Maker
4. Flip a coin.
5. Trade opposite of what I want.
6. Make sex bets with your significant other that you will win.
7.Ask a neighbor.
8, Study charts.
9. Become a broker.
10. Listen to people on message boards.
11. Bet the news.
12. Subscribe to expensive trading services.
13. Try and out trade the market in day trading.....


I hate to say this but, I have a home and cars that are paid for but you are only one month away from bankruptcy at every moment. Quit going in there "trying" to make a living and treat it for what it is......a gamble....Just look at the monthlies and let 1000 ride and you will do well. This is all a circus and you don't ever go to a circus "expecting" to make money do you?...If you do, then trading is not for you. Most of us here want to be movie stars but we are not and we will not ever be movie stars. There are 200 people above me that know more about these markets and how they work and they will do all they can to take my money. I just try and beat the computers that control the market and feel good if they "fail" one day and put some xxx's and 000's in my account. Other than that, it is life in the matrix.

As far as your suicidal thoughts...You may need more magnesium in your diet...I don't mean to sound crass, but if you had those thoughts over 7k, then a fender bender in traffic could turn you into a mass murderer.....just sayin.....Go get tested for Lyme disease....No joke...

P.M. me with any of your thoughts and I will be more than happy to talk with you....

I do not give ANY trading advice whatsoever....

peace
  • #167
  • Nov 15, 2014 5:59pm Nov 15, 2014 5:59pm
Quoting cenetti
{quote} 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....
Gambling: yes it is.
Definition ==> To bet on an uncertain outcome

ok so ==> if you can not take a $100 profit and then a $20 loss and end up the day with $80 profit and be happy

What happens when you take a loss of 100 and make a profit of 20 with a net loss for the day of -80 ?
In addition, let's say you do it 5 times in row ?
  • #168
  • Edited 6:21pm Nov 15, 2014 6:03pm | Edited 6:21pm
Quoting Acroix70
{quote} Go away. You shit up every thread with your doom and gloom. Sorry you aren't making money trading. That doesn't mean everyone else can't
"doom and gloom" is a bit strong, how about "realistic and honest" ? Would you know something about that ?

True it does not mean everyone else can't
It means 99.99999 can't
Long term it's garanteed to be even higher than that.

Losing is not "paying tuition" losing is losing.
The idea perpetrated by the forex industry that one has to "lose in order to learn" is one of the many lies that keeps the would-be-forex-millionaires in the game for more loses.
Losing money is a sure sign that your energy should be placed into something else (i.e. a real job)
  • #169
  • Nov 15, 2014 6:21pm Nov 15, 2014 6:21pm
Quoting Mingary
{quote} "doom and gloom" is a bit strong, how about "realistic and honest" ? Would you know something about that ? True it does not mean everyone else can't It means 99.99999 can't Long term it's garanteed to be even higher than that. Losing is not "paying tuition" losing is losing. The idea perpetrated by the forex machine that one has to "lose in order to learn" is one of the many lies that keeps the would-be-forex-millionaires in the game for more loses. Losing money is a sure sign that your energy should be placed into something else (i.e. a...

Sorry you aren't making money trading.
  • #170
  • Edited 6:53pm Nov 15, 2014 6:30pm | Edited 6:53pm
Quoting Acroix70
{quote} Sorry you aren't making money trading.

No problem at all . But your answer sounds like the last statement from a conversation with a broker; "Sorry you aren't making money trading",
followed by "consider it as tuition money, you should put more money in your account and try again."

What can I say ... It's really sad how people just withdraw from the debate when pressed for facts and good logic.
  • #171
  • Nov 15, 2014 6:53pm Nov 15, 2014 6:53pm
Quoting Mingary
{quote} No problem at all . But your answer sounds like the last statement from a conversation with a broker. Sorry you aren't making money trading. Are you going to put more money in your account? It's really sad there are no more good debates in these forums.

Its not a debating forum

Sorry you aren't making money trading.
  • #172
  • Nov 15, 2014 7:43pm Nov 15, 2014 7:43pm
Quoting Mingary
{quote} Gambling: yes it is. Definition ==> To bet on an uncertain outcome ok so ==> if you can not take a $100 profit and then a $20 loss and end up the day with $80 profit and be happy What happens when you take a loss of 100 and make a profit of 20 with a net loss for the day of -80 ? In addition, let's say you do it 5 times in row ?
AHA! Great question. If you're losing 5 times, 10 times, 100 times in a row. That means it's time to go back to 'demo' because you don't know what you're doing. Trading is about having an edge before 'betting on that uncertain outcome'

Yellen opened her mouth, you lost once. Unexpected! China lifts ban on NZ products, unexpected you lost twice. Anything else is on you, means your strategy (edge) is not working. Time to go back to drawing board. Now if you push through to get that money back without a working strategy, then you're not trading but gambling.

I have my own strategy that fits my lifestyle, timing, my character etc.. works for me. But on the side I have 5 different demo accounts and I constantly study and test new ideas. It's a never ending journey, my friend. Market conditions change, working strategies stop working. You need to learn to adapt.

What I am trying to say is, there is no easy money.
  • #173
  • Nov 16, 2014 1:46am Nov 16, 2014 1:46am
Quoting Acroix70
{quote} Its not a debating forum Sorry you aren't making money trading.
Thank you for your concern but I can assure you this is not about me.
  • #174
  • Nov 16, 2014 1:53am Nov 16, 2014 1:53am
Quoting cenetti
{quote} AHA! Great question. If you're losing 5 times, 10 times, 100 times in a row. That means it's time to go back to 'demo' because you don't know what you're doing. Trading is about having an edge before 'betting on that uncertain outcome' Yellen opened her mouth, you lost once. Unexpected! China lifts ban on NZ products, unexpected you lost twice. Anything else is on you, means your strategy (edge) is not working. Time to go back to drawing board. Now if you push through to get that money back without a working strategy, then you're not trading...
Thanks.

To put in in another way: it's an art form.
  • #175
  • Nov 16, 2014 2:49am Nov 16, 2014 2:49am
Quoting Mingary
{quote} ...Losing is not "paying tuition" losing is losing. The idea perpetrated by the forex industry that one has to "lose in order to learn" is one of the many lies that keeps the would-be-forex-millionaires in the game for more loses...
Not "would-be-forex-millionaires". More like "wanna-be-forex-millionaires" (never will be)
  • #176
  • Nov 16, 2014 2:52am Nov 16, 2014 2:52am
Quoting bluepanther
{quote} Not "would-be-forex-millionaires". More like "wanna-be-forex-millionaires" (never will be)
Indeed.
I stand corrected. Thank you
  • #177
  • Nov 16, 2014 6:01am Nov 16, 2014 6:01am
Quoting Mingary
{quote} Thank you for your concern but I can assure you this is not about me.
Regardless

Sorry you aren't making money trading

​Its obvious you aren't
  • #178
  • Edited 6:17am Nov 16, 2014 6:05am | Edited 6:17am
Quoting Acroix70
{quote} Regardless Sorry you aren't making money trading ​Its obvious you aren't

ok then please do tell:

Why do you think it's obvious?
Why are you sorry ?

it's obvious to me YOU are not making any money.. see how easy that is (:
  • #179
  • Nov 16, 2014 6:31am Nov 16, 2014 6:31am
it is pretty much impossible to turn 200 into 7000 after only 1 month. unless he was gambling with his money and really lucky
and thats why he lost it all.
Bulls are stupid Animals!especially when Im short!
  • #180
  • Nov 16, 2014 6:34am Nov 16, 2014 6:34am
Quoting bluepanther
$7000 today, $1 million tomorrow. Hey, what difference does it make? Keep putting money in because the markets need liquidity! I can show you how it's done! And some day you may become an accomplished loser like me! "The difference between an experienced trader and a beginner is that the former has lost more money." The point is: don't give up just yet - you have only just started! The secret to staying positive is to keep believing you will one day make it (even if you don't), regardless of how much you...
Well, the fact that topic start has invested 7 K in trading and lost them is a great step toward his success in trading. I would think that he acquired an experience on those 7000$ (if not a knowledge then prudence and high caution before entering the market). I am 95% sure that if he goes through after receiving that serious setback he will certainly catch up with his losses and will become professional trader..
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