Right now, I feel that I'm the biggest loser in Forex | Page 4 | Forex Factory

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

  • #61
  • Nov 21, 2014 3:24pm Nov 21, 2014 3:24pm
where is the thread starter? Not another "i lost 5000% of my profit and cmannot sleep"
A trade should be based on an assumption based on facts
  • #62
  • Nov 21, 2014 3:32pm Nov 21, 2014 3:32pm
Definitely not one of those I think. I've been following their post(s) within the Interactive forums. This person has quite a few post.
Quoting Mave
where is the thread starter? Not another "i lost 5000% of my profit and cmannot sleep"
SPC * Swollen PocketZ Crew!
  • #63
  • Nov 21, 2014 3:36pm Nov 21, 2014 3:36pm
Quoting JoeNY
Definitely not one of those I think. I've been following their post(s) within the Interactive forums. This person has quite a few post. {quote}
Suddenly a change in the attitude. Wonderful.
A trade should be based on an assumption based on facts
  • #64
  • Nov 21, 2014 3:37pm Nov 21, 2014 3:37pm
Is a demo account not just like practicing tight-rope walking on a computer game until you're ready for the real thing?
Where price is now, it has been before, and will be again.
  • #65
  • Nov 21, 2014 3:47pm Nov 21, 2014 3:47pm
Hi, well since trading demo and live are both done on a computer. The tight-rope comparison is a little weak in this situation. Just sayin' You got another one?

Quoting Jenx
Is a demo account not just like practicing tight-rope walking on a computer game until you're ready for the real thing?
SPC * Swollen PocketZ Crew!
  • #66
  • Nov 21, 2014 3:54pm Nov 21, 2014 3:54pm
Quoting JoeNY
Hi, well since trading demo and live are both done on a computer. The tight-rope comparison is a little weak in this situation. Just sayin' You got another one? {quote}
Give your head a wobble
Where price is now, it has been before, and will be again.
  • #67
  • Nov 21, 2014 3:56pm Nov 21, 2014 3:56pm
Quoting JoeNY
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...
  • #68
  • Nov 21, 2014 4:25pm Nov 21, 2014 4:25pm
Quoting JoeNY
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...
Well said.
It never gets easier, you just get better
  • #69
  • Nov 21, 2014 7:40pm Nov 21, 2014 7:40pm
biggest reason traders lose money -
Because they have money. people tend to forget this primary reason. I mean money is the root of all evil. People make/earn money and get into forex to provide liquidity
This is the primary reason for people to lose money in forex. But traders do not lose money in forex
A trade should be based on an assumption based on facts
  • #70
  • Nov 21, 2014 8:14pm Nov 21, 2014 8:14pm
In my view if we just follow some step then we can easily avoid loss. i get this tips and follow try to follow. Share with you Friends,

*Choose a broker with whom you feel comfortable but also one who offers a trading platform that is appropriate for your style of trading.
*Choose a methodology and then be consistent in its application.
*Choose a longer time frame for direction analysis and a shorter time frame to time entry or exit.
* Calculate your expectancy.
*Focus on your trades and learn to love small losses.
*Build positive feedback loops.
*Perform weekend analysis.
*Keep a printed record and analysis

​Note: it`s for beginner like me. Senior member know more about that. And looking forward from them some tips
  • #71
  • Nov 21, 2014 8:36pm Nov 21, 2014 8:36pm
Biggest reason --- cause the 1% get the other 99%. Everyone thinks they are the top dog and the ego gets in the way.! Some of these charts do stuff that shouldn't happen - but they do.. I stick to the stock market investing and playing poker. I do much better. Although this has been a 10 year struggle - so far :!)
  • #72
  • Nov 21, 2014 9:44pm Nov 21, 2014 9:44pm
This market is loaded with "lotto mentality" traders. FX isn't a path to quick riches IMO. It's a path towards continuing growth. Going after explosive gains here more often than not results in explosive losses first.
"Holy Grail" exists - accepting where is the first step.
  • #73
  • Nov 21, 2014 10:59pm Nov 21, 2014 10:59pm
Quoting JoeNY
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...
Agreed.. learn from the professional traders, choose the style u like..u will feel better..keep learning..nobody is perfect in trading..here an example

Inserted Video
  • #74
  • Nov 22, 2014 1:23am Nov 22, 2014 1:23am
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...
I am sorry for your financial loss, but this is bearable. This is a perfect example, a very common occurrence, doubt there is even a single person here who haven't experienced this. The greater issue is to see why it happens so many times to so many people? If it is because of human psychology why automated trading systems face the same? Maybe it is zero sum game and the only winners are those who make money and then leave trading never to return. I wonder people who have won Lotto for more than 1 million dollars ever again buy a Lotto ticket hoping to win yet another jackpot.
The Thief of Wall Street
  • #75
  • Nov 22, 2014 3:15am Nov 22, 2014 3:15am
Quoting Chicky
{quote}Maybe it is zero sum game and the only winners are those who make money and then leave trading never to return.
I have same feelings, but I am still not sure.

My story is almost the same as the topic-starter, lost my money 2 years ago. Since then, I always watched the pair I was trading before, opened a demo account, used it occasionally. Two month ago I decided to take the demo account serious, as a test if I am matured to return with real money. I said to myself: if I will have profit on my account even after 3 month intensive trading, I allow to myself trade with real money. So what happend?

I traded reasonable lots, always the same amount, unlike before (when after a loss I just traded bigger lots to get my "profit" back -- lost even more obviously). My discipline and courage seemed to be balanced. I opened good positions and bad positions, learned myself, tried to avoid the same mistakes again. After two months I already had more than the double of my initial account, however I only aimed 10% increase monthly. I started to plan my rich future...

Then suddenly the long term trend of the course just inverted, without reaching the widely-discoussed level, so I was confused. The candels showed me the turn, but more experienced traders said the opposite. So I forced myself to trade the initial direction. Thanks to money management, my loss wasn't big, but annoying. My 1. rule was quit trading when I can't feel the market (gain losses), but on that day I wasn't mentally fit, and that is the point! What prevents me from myself?

I just kept trading (whyyyy?), the market was just as confused as me, so the course went in every direction widely within an hour, always reaching my stop loss levels, so trade by trade I lost more and more money. I just couldun't turn my computer simply off, and prevent the catastrophe. I tried to calm down, and gave myself a final "chance" to get my money back (whyyyy?). Whatever this idea was, not important, I lost 99% of my money. End of story.

On that day I acted like a stupid idiot. For two months I could follow my strategy, keep away from risky tradings, and don't be excited about money. And one day I just couldn't. One afternoon was enough to ruin everything, one bad day. The problem was obviously me, on that day I lost my discipline. But that is the point: I'll be always there, and can go stupid anytime. If I just had a secretary who stops me, saying "go home mister"!

How could I secure my account? It is crazy how fast I lost my account I built for a while.
  • #76
  • Nov 22, 2014 6:06am Nov 22, 2014 6:06am
Hi,
It is surprising how many new traders win when they first begin to trade. and then they fail.
Their is logic as to why this happens.
Next time you are going to trade turn your pc off and let the trade pass then look for another trade, maybe several hours later or even next day.
Several good people have responded to your post and have excellent advice and we also have the turkeys ill advice.
We all lose/lost at some point but we must stick to the plan and not get emotional..
Be good and take care, think positive and you will get there...
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #77
  • Nov 22, 2014 7:02pm Nov 22, 2014 7:02pm
You are not a loser. You must be disciplined and refuse to trade when you are emotional. Do not give up. Thomas edison failed 10000 times before he finally was able to get the lightbulb to work. it can take years to become profitable. Trust me, I know.
  • #78
  • Nov 23, 2014 4:16am Nov 23, 2014 4:16am
Quoting billytt
Hi, It is surprising how many new traders win when they first begin to trade. and then they fail. Their is logic as to why this happens. Next time you are going to trade turn your pc off and let the trade pass then look for another trade, maybe several hours later or even next day. Several good people have responded to your post and have excellent advice and we also have the turkeys ill advice. We all lose/lost at some point but we must stick to the plan and not get emotional.. Be good and take care, think positive and you...
Yes, that is true. This is a very, very important phenomenon.

The well known "beginner's luck" does not happen only in trading. It has to do with a concept called "Beginner's mind" and also "Mindfulness"
  • #79
  • Nov 23, 2014 4:22am Nov 23, 2014 4:22am
Quoting mrkarak
{quote} I have same feelings, but I am still not sure. My story is almost the same as the topic-starter, lost my money 2 years ago. Since then, I always watched the pair I was trading before, opened a demo account, used it occasionally. Two month ago I decided to take the demo account serious, as a test if I am matured to return with real money. I said to myself: if I will have profit on my account even after 3 month intensive trading, I allow to myself trade with real money. So what happend? I traded reasonable lots, always the same amount, unlike...
I'll be very honest. You sound like a trader to the core. I'll tell you why - "i have the same feelings, but i am still not sure" the statement is definitely an oxymoron (if it could be used for a statement)
"It is crazy how fast i lost my account i built for a while" - seems like this was not the first time such a thing has happened but the difference is the experience has left you feeling a bit crazy in the head. It is the market feel.
If you are wondering how is this explanation related to trading then do feel free to think before asking how.
A trade should be based on an assumption based on facts
  • #80
  • Nov 23, 2014 4:25am Nov 23, 2014 4:25am
what is amazing to see is people are having discussions and the thread starter has not replied to a single post.]
A trade should be based on an assumption based on facts
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