Right now, I feel that I'm the biggest loser in Forex | Page 3 | Forex Factory

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Right now, I feel that I'm the biggest loser in Forex

  • #41
  • Nov 21, 2014 1:34am Nov 21, 2014 1:34am
Quoting KiwiOz
{quote} First you need a reliable system. After that there are only three rules to trading. 1. Discipline. 2. Discipline 3. Discipline
With the greatest respect my friend - you have missed my point.
When you feel like it is not working, then it is not working.
Fiddling around at the edges is like rearranging the deck chairs on the Titanic - it is still going to sink!
For Jayjb to move forward, she would be best to do a major overall of everything she is doing - not just fiddling with a different system.
When it is not working - time for a major rethink.
Wipe the slate clean, consider all that she has learned, consider all that is not working, consider where she is now, where she wants to be and, most importantly, what she needs to do to get there.

Reading over the posts on this thread, they fit into 3 categories.
The commiseraters, The wellwishers and those who believe they have the answer.
Believe me, no-one has the answer except Jayjb. I have not got the answer as I do not know what she is thinking or acting on.

I simply ask that everyone has respect for a fellow trader and understands that losing money does not equate to stupidity.
It simply means that action needs to be taken to rectify the situation.
Jayjb has made the bold move to publicly declare the issue. All power to her for this.

If I may repeat it again "trading happens in the head".
Experienced traders (read consistently profitable) will tell you that you can take an average system and make money or you can take a brilliant system and lose money. It is not all about system - it is about treating trading as a business and using all the control principles of running a business to place and exit trades wherever there is a high probability of success.

I believe that it is significant that she posted this 22 hours ago and has not returned to post again.
This possibly indicates that she is fully considering all of the options open to her - a wise course of action.
  • #42
  • Nov 21, 2014 1:46am Nov 21, 2014 1:46am
Quoting Aich
I simply ask that everyone has respect for a fellow trader and understands that losing money does not equate to stupidity.
and also
Quoting Aich
I believe that it is significant that she posted this 22 hours ago and has not returned to post again. This possibly indicates that she is fully considering all of the options open to her - a wise course of action.
These are the words spoken by a true and successful trader. Now, I don't know if Aich is actually a consistently profitable trader, but (s)he sure could deceive me.

Anyone who is semi-smart and has at least half a brain will LISTEN to these words of wisdom (not just the words I have quoted -- although that, too -- but this entire thread).

I am VERY GLAD to finally see so many FF members contributing with such useful and encouraging posts! It makes me feel really good!
Please check out my blog at https://from-zero-to-hero . net
  • #43
  • Nov 21, 2014 2:09am Nov 21, 2014 2:09am
Quoting realjumper
{quote} Absolutely Kong....but it's not limited to this place only....check out point 5 below. This was shown to me by a very good friend, and it's pretty damn true! http://www.traderplanet.com/newslett...istribution:8/ 1. Have a plan before you initiate a trade. A detailed trading plan is your blueprint to success. It will help you define you as a trader, the way you trade, will help you find, execute and manage trades with ease and most importantly will help you put the education puzzle together. 2. Always analyze...
Gospel!

Every one of those points as I read it gave me a flash back to some moment in the past 7 years
  • #44
  • Nov 21, 2014 2:35am Nov 21, 2014 2:35am
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  • #45
  • Nov 21, 2014 4:44am Nov 21, 2014 4:44am
Quoting jayjb
Here's my story. Started on forex almost 3 years ago as a get rich quick method and things got ugly pretty fast, within months I blew accounts worth of 1.5k and I stopped because I didn't wanna lose anymore. Fast forward to today, I got back into trading with a small account of $200 and did okay for 2 weeks, managing about $40 to $50 returns until a week where one of my trade which I overleverage went deep into the red and I loaded more money into the account to hedge and thankfully within days, the trade went back to my initially direction and...
It's obvious that you need training on demo account. You don't know what are you doing and don't have plan, probably you trade without stop loss and if you will trade in this way you will finally lose every money!!! Learn how to trade price action, train, train, train and after year maybe you will be ready. Everybody who claims that trading is simple is right and wrong. It's simple when you feel really confindent and you rich in experience, but otherwise extremely hard. You also need to focus on your psychics, because all after all it makes most of your outcome. Good luck!
  • #46
  • Nov 21, 2014 4:55am Nov 21, 2014 4:55am
Quoting insomniawawa
{quote} It's obvious that you need training on demo account. You don't know what are you doing and don't have plan, probably you trade without stop loss and if you will trade in this way you will finally lose every money!!! Learn how to trade price action, train, train, train and after year maybe you will be ready. Everybody who claims that trading is simple is right and wrong. It's simple when you feel really confindent and you rich in experience, but otherwise extremely hard. You also need to focus on your psychics, because all after all it makes...
This post is so FULL OF ASSUMPTIONS that it is a TOTAL LOAD OF RUBBISH.
This is the reason I post so rarely on this site.
People so full of themselves that they believe they can wave their magic wand of semantics and all will be fixed in the world .... of trading.

Please excuse my anger.
  • #47
  • Edited 7:06am Nov 21, 2014 5:47am | Edited 7:06am
Quoting Aich
{quote} This post is so FULL OF ASSUMPTIONS that it is a TOTAL LOAD OF RUBBISH. This is the reason I post so rarely on this site. People so full of themselves that they believe they can wave their magic wand of semantics and all will be fixed in the world .... of trading. Please excuse my anger.

Total load of rubbish?? hahaha, good one!!!! Only my point of view and truth about training. You won't become good trader in one month. I have been trading on stock exchange for 7 years and then I have started to trade forex, but unfortunately it was impossible to use the same methods with success. It was obvious that I need to learn new market and get experience and thanks to 8 hours in front of the screen for 3 years now I have enough knowledge to understand market and trade only when odds are in my favour. I trade only price action, don't have any stupid system with indicators, because market is changing all the time. Actually, I don't understand your anger, but I'm not going to quarrel with you, because you have right to your own opinion.
  • #48
  • Nov 21, 2014 7:18am Nov 21, 2014 7:18am
I am trading since 2007 and I can say trading is really easy only two things need to be taken care of and that is risk management and timing.

dont risk trade any thing bigger then 3 to 5% of you account.
  • #49
  • Nov 21, 2014 8:55am Nov 21, 2014 8:55am
fast advice
1-stick to your plan what ever happend
2- put SL and TP always
3-just close the dam PC and what for one of the TP and SL hits
4- and last and most impotent always risk 1% to 3% of your account
  • #50
  • Nov 21, 2014 9:22am Nov 21, 2014 9:22am
Wrong is right most of the times. Only when you lose, you learn. Think of it this way, if you didnt lost the 1600$ now, you might have lost 50000$ later. The only way to lose efficiently is to lose with small account exposure per trade. Consider every breakeven week with a couple won, a couple lost, a winning week because it will eventually add to sustainability (if you dont let emotions overtake you that is).
  • #51
  • Nov 21, 2014 9:34am Nov 21, 2014 9:34am
I haven't heard of a successful trader who hasn't had a serious loss before they made it. Learn and move on. The market will weed out the ones which don't learn from it

One of my fav quotes: "The measure of a man is the way he bears up under misfortune."
ForexOrderFlow.com Return This Year: 14.2%
  • #52
  • Nov 21, 2014 12:47pm Nov 21, 2014 12:47pm
Trading is a long way and few only will have success in it .system plus risk managment what you need in that long way
Some make it some not
All have a nice day
focus while relaxed to see better
  • #53
  • Nov 21, 2014 1:31pm Nov 21, 2014 1:31pm
Quoting jayjb
Here's my story. Started on forex almost 3 years ago as a get rich quick method and things got ugly pretty fast, within months I blew accounts worth of 1.5k and I stopped because I didn't wanna lose anymore. Fast forward to today, I got back into trading with a small account of $200 and did okay for 2 weeks, managing about $40 to $50 returns until a week where one of my trade which I overleverage went deep into the red and I loaded more money into the account to hedge and thankfully within days, the trade went back to my initially direction and...
Too many do not realise how close they were to success when they quit.
Where price is now, it has been before, and will be again.
  • #54
  • Nov 21, 2014 2:11pm Nov 21, 2014 2:11pm
Damn frustration, it's just a part of this game that you can't avoid at times
  • #55
  • Nov 21, 2014 2:20pm Nov 21, 2014 2:20pm
don't worry, as they say:

every dog has its day
  • #56
  • Nov 21, 2014 2:44pm Nov 21, 2014 2:44pm
We've all been demo account heroes. I believe that demo accounts do more harm than good.You only learn from trading live.MM is everyting
Where price is now, it has been before, and will be again.
  • #57
  • Nov 21, 2014 2:45pm Nov 21, 2014 2:45pm
Quoting Jenx
{quote} Too many do not realise how close they were to success when they quit.
True this!

True success is Always the Next step.
Ghost Rider - WWTBMD?
  • #58
  • Nov 21, 2014 2:52pm Nov 21, 2014 2:52pm
True success is Always the Next step. [/quote]</p>
Absolutely 👍
Where price is now, it has been before, and will be again.
  • #59
  • Edited 11:30pm Nov 21, 2014 3:18pm | Edited 11:30pm
What's wrong with Demo trading until consistently profitable? (6 months, a year, whatever it takes) You're 25, what's the rush? I'm sorry but none of us should have lost money while learning the markets. It's greed that makes a person trade with real money before becoming proficient. Yes, I am guilty and did not practice what I am preaching but should have. So in being responsible,... before you lose more, don't be a fool like I was. A fool and their money are soon parted.

Demo until you get it... and then a little real money that you can afford to lose just in case something goes wrong again like.... "Fear of Loss"

P.S. Learn to pick out what supply and demand look like on a chart. IMO, that's the kind of solid trading that will never change with time.I think everything else is just horseshit.. But that's me.

Quoting jayjb
Here's my story. Started on forex almost 3 years ago as a get rich quick method and things got ugly pretty fast, within months I blew accounts worth of 1.5k and I stopped because I didn't wanna lose anymore. Fast forward to today, I got back into trading with a small account of $200 a
SPC * Swollen PocketZ Crew!
  • #60
  • Nov 21, 2014 3:22pm Nov 21, 2014 3:22pm
Quoting JoeNY
What's wrong with Demo trading until consistently profitable? (6 months, a year, etc) You're 23, what's the rush? I'm sorry but none of us should have lost money while learning the markets. It's greed that makes a person trade with real money before becoming proficient. Yes, I am guilty and did not practice what I am preaching but should have. So in being responsible, don't be a fool like I was. A fool and their money are soon parted. Demo until you get it... and then a little real money that you can afford to lose just in case something goes wrong...

This is just as good as gospel to me. I could not agree more.
The coincidental success is more dangerous than the expected failure
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