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

  • #81
  • Nov 23, 2014 2:30am Nov 23, 2014 2:30am
The thread starter is just one on the many thousands (99.9999 %) who have donated their account to the market.
The broker puts on a dog and pony show 3 times a week to recruit fresh cannon fodder to replace the fallen... and the show goes on.
  • #82
  • Nov 23, 2014 4:07am Nov 23, 2014 4:07am
Quoting Mingary
{quote} 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"
well said, I agree 100%.
I was going to mention the beginners luck phenomenon with horse racing and roulette but thought it was too much but you chose the right wording, be good.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #83
  • Nov 23, 2014 4:37am Nov 23, 2014 4:37am
To quote Thomas Edison “I have not failed. I've just found 10,000 ways that won't work.” You are not a loser, you just have 10,000 ways of not making any money. The trick is to find the way in which to make money. And don't forget most people give up the moment before they find that winning way.
  • #84
  • Edited 5:23am Nov 23, 2014 4:44am | Edited 5:23am
10,000 ways of not making money
10,000 hours of chart experience
= change your method every hour ?

LOL
It never gets easier, you just get better
  • #85
  • Nov 23, 2014 5:37am Nov 23, 2014 5:37am
Quoting ChristopherM
To quote Thomas Edison “I have not failed. I've just found 10,000 ways that won't work.” You are not a loser, you just have 10,000 ways of not making any money. The trick is to find the way in which to make money. And don't forget most people give up the moment before they find that winning way.
Obviously Mr. Edison was incompetent... and lucky !
  • #86
  • Nov 23, 2014 6:08am Nov 23, 2014 6:08am
Quoting Mingary
{quote} Obviously Mr. Edison was incompetent... and lucky !
Persistent is a good word.
Corripe Cervisiam!
  • #87
  • Nov 23, 2014 6:54am Nov 23, 2014 6:54am
Winners never quits... and quitter never win
Attached Image
$$ Buy @ Lod & Sell @ Hod $$
  • #88
  • Nov 23, 2014 8:38am Nov 23, 2014 8:38am
Quoting djmoloy71
Winners never quits... and quitter never win {image}
"I don't measure a mans success by how high he climbs but by how high he bounces when he hits bottom"

George.S.Patton
Learn, a forex trader must, unlearn and relearn he will.
  • #89
  • Nov 23, 2014 9:28am Nov 23, 2014 9:28am
i had beginners luck and turned 5k UK pounds into 11gbp in 4 weeks - then I lost almost the lot 8kGBP in one afternoon when i had to go out and left a 5k trade on oil long that went short. Obviously I traded too big 50% of account and traded without stop loss, so I committed the cardinal sins and I got punished .

I got back on the horse and Im in month two - I've doubled my account again - am I just lucky or a high risk taker who will be blown out, I dont know just yet - but hope to learn fast how to avoid big drawdown

hopefully someone else is winning and can share tips on winning - thats why we are all here

without risk there is no trade

eg this week brent oil hit 77.25 dollars. I predicted that it would rebound up towards 80 dollars on back on OPEC meeting. I wanted to go 1kx3 (3000 GBP on my prediction but I chickened out after my large loss, I would have done a stop loss at 76.25 [risk 1900 GBP for possible win of 5950

-- oil went to 81 dollars on friday - I would have been right but I didnt take the risk -
  • #90
  • Nov 23, 2014 9:46am Nov 23, 2014 9:46am
I would
Quoting Waitnsee
i had beginners luck and turned 5k UK pounds into 11gbp in 4 weeks - then I lost almost the lot 8kGBP in one afternoon when i had to go out and left a 5k trade on oil long that went short. Obviously I traded too big 50% of account and traded without stop loss, so I committed the cardinal sins and I got punished . I got back on the horse and Im in month two - I've doubled my account again - am I just lucky or a high risk taker who will be blown out, I dont know just yet - but hope to learn fast how to avoid big drawdown hopefully someone else is...

I would say your moving in the right direction, worrying about how much you lose compared to how much you can win. Trading is made easy when you worry more about your loses, then the winners, and setting up your positions to reduce lose.
Learn, a forex trader must, unlearn and relearn he will.
  • #91
  • Nov 24, 2014 12:14am Nov 24, 2014 12:14am
Quoting Mave
what is amazing to see is people are having discussions and the thread starter has not replied to a single post.]
haha! Brilliant - there's an agony aunt inside us all!
  • #92
  • Nov 24, 2014 3:39am Nov 24, 2014 3:39am
- PRINCIPAL PROTECTION

then:

- Money management
- Risk management
"Holy Grail" exists - accepting where is the first step.
  • #93
  • Nov 26, 2014 1:49am Nov 26, 2014 1:49am
Right now, I feel that I'm the biggest loser in Forex

I also thought like that when i just join Forex and get too many loss. Now i think that time i don`t have much knowledge and experience. At this time i earn well with trading Price action system
  • #94
  • Nov 26, 2014 1:53pm Nov 26, 2014 1:53pm
Quoting js5020
Things like this happen and you have a few choices, learn from it and get back on the horse or stay off the horse and walk away. Its discouraging to say the least. Always trade so you will be able to trade again tomorrow.
I couldn't agree with you more, the decision in the end would remain his. He has really lost a little, but there is always a way out if he decides to continue.
I would suggest taking a time out to review what has been going on and why loses come, this can go a long way to help him.
  • #95
  • Nov 26, 2014 3:46pm Nov 26, 2014 3:46pm
what happened to the original poster?
  • #96
  • Nov 26, 2014 4:02pm Nov 26, 2014 4:02pm
Quoting Carlsberg
what happened to the original poster?

I thought for sure the OP would be back as she posted often in the Interactive threads recently. Looks like quits..... again.

You can't jump into the waters without the right equipment and think you will survive.

Inserted Video
SPC * Swollen PocketZ Crew!
  • #97
  • Nov 26, 2014 4:05pm Nov 26, 2014 4:05pm
I think this poster starts threads & disappears.

The last one on a similar topic :

http://www.forexfactory.com/showthread.php?t=340221
It never gets easier, you just get better
  • #98
  • Nov 26, 2014 6:55pm Nov 26, 2014 6:55pm
Quoting Carlsberg
what happened to the original poster?
Is it alright to say the original poster might have really totally lost it
A trade should be based on an assumption based on facts
  • #99
  • Nov 26, 2014 7:11pm Nov 26, 2014 7:11pm
I just want to congratulate everyone who is + for nov, been a great month time is flying by
All posts are my personal opinion
  • #100
  • Edited 2:29pm Nov 27, 2014 3:11am | Edited 2:29pm
Quote
I sat and looked at the charts almost every minute
NO NO NO NO NO NO NO NO NO NO....ABSOLUTELY N O O O O!
Why? Because it's all you have. You don't know anything else. But the things you don't know are things you should know.
I thought that Pelicans were only white....WRONG! Just not long ago i vacated in Jamaica and low and behold i saw a brown Pelican
I'm 36 and i am very embarrassed at a basic assumption i made.
Regarding trading what assumptions have you made?

We are trading a system here, and i'm not talking about my system or your system. I am talking about T H E S Y S T E M.
Do you know how it works?
Everyday there are dislocations in assets that normally roll together. You can quite easily locate these dislocations, covering the spread.

I would put your failure down to ignorance, we've all been there and most are still there.
Currency trading is part of T H E S Y S T E M, it's a piece in a greater puzzle.
How do you expect to solve the puzzle when you are just looking at one piece(FX)?
You put all the pieces together and you see the picture.

​It's not going to be easy and will require effort. But it certainly isn't that hard either.
Rgds
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