I don't understand today's EURUSD activity; but while it was quiet i was foolish enough to place a few shorts and this stopped out my account (i am with XM, with whom i have lost about EUR 18,000 so far as i did not know how to handle hedging properly, and still do not have a perfected strategy, though i was profitable previously with another broker, who does not allow high leverage). I don't mean to blame the market maker for my lack of trading succes; but i lost GBP 7500 when i was with FXCM and it seems there were many strange 'spikes' that often ruined profitable trades and/or stopped out my account; i was with Plus500 also for some years and managed to start gaining profit or at least break even, though it was very difficult due to their infantile platform and negligible charting. However, i got bored and started to trade shares with them in 2013 and while it was not going well, it wasn't a complete disaster until i purchased a gold mine EVN (Evolution Mining) an Australian miner, for about .90 a share. Although the company was apparently worth $200 million, the shares started to fall until i was margined out. I tried to save the ticket by topping up, until i was in by $16,000 but i was again margined out. A few weeks after that, the shares recovered. So i believe Plus500 is a pump and dump outfit. After getting so badly burned, i thought XM was going to be different; however i have found it impossible to retain profit with them. It is almost as if Metatrader is actually preset (i.e. and using your client terminal as the actual application connected directly to the XM price database) to automatically and continually offset or hedge ALL orders you place, regardless of position size, currency, hedge, or leverage to result, always in either a margin call or stopout. I don't want to write this primarily as a complaint about retail brokers but it really seems to me, after almost ten years of trading, that none of these brokers (MMs) is ever going to allow any retail trader to make money. Can anyone in the world please convince me I am wrong. I am about to give up and begin a public exposure of retail brokers on Facebook and through my company, to warn everyone who would ever consider retail forex trading (and those who currently are still trying to make a profit) that the algorythms and software code inside Metatrader is (obviously) designed by the Russian mafia, also known as the Synagogue of Satan. There is, therefore, absolutely no possibility WHATSOEVER that you will EVER make any money consistently as a retail forex trader.
- #996,343
- Jun 2, 2015 10:24am Jun 2, 2015 10:24am
- Joined Nov 2012 | Status: Trader | 5,895 Posts
{quote} I am not a very good Elliotician but this apparent bearish movement is time consuming so it's only a bearish correction, so 1.1050-70 - NO WAY!
Inserted Video
- #996,344
- Jun 2, 2015 10:24am Jun 2, 2015 10:24am
- Joined Oct 2008 | Status: sideline is a position | 105,124 Posts
those who can, do. those who cant, talk about those who can
- #996,347
- Jun 2, 2015 10:29am Jun 2, 2015 10:29am
- Joined Jan 2012 | Status: Loving Nature* | 3,985 Posts
Today I got a huge loss like most bears. I lost about USD 2,500 today. What a day! I was gaining a profit of arond USD 3,000 at one point for this trading.
I was this morning with 58% return this month in my account...at some point after NY session, I was about a nail to be margin called, terrible trading even more with the roboforex server going down every minute...a nithmare...
even so, I was able to revover and now I´m only -10% in my account...so that I prefer to start from low balance: if you are able to grow it, and learn while you are growing,and after withdraw your target profit, perfect...if not, f"% off, you will not regret so much at all loosing such low investment...the border from gambling and accurate technical trading is thin line
rethink about what you want to do!! all the best bro*
forex some days is tricky, is dangerous, because our mind is not naturaly set to win this game...
as much I want to trade long term style trading because is less stressful, is on scalping that I profit!!! if you want to trade holding positions long term, you have to trade with zero leverage, and have a patience from a monk.. take care traders* infinitus was right, check is post yesterday in "the club" thread! is the man!
- #996,348
- Jun 2, 2015 10:41am Jun 2, 2015 10:41am
I don't want to write this primarily as a complaint about retail brokers but it really seems to me, after almost ten years of trading, that none of these brokers (MMs) is ever going to allow any retail trader to make money. Can anyone in the world please convince me I am wrong. I am about to give up and begin a public exposure of retail brokers on Facebook and through my company, to warn everyone who would ever consider retail forex trading (and those who currently are still trying to make a profit) that the algorythms and software code inside Metatrader is (obviously) designed by the Russian mafia, also known as the Synagogue of Satan. There is, therefore, absolutely no possibility WHATSOEVER that you will EVER make any money consistently as a retail forex trader.
"Tips are for waiters." - Reminiscences of a stock operator
- #996,350
- Jun 2, 2015 10:52am Jun 2, 2015 10:52am
quoting ewriter
Mate sorry for the loss.
i have same story not being a finance person but still struggled in forex world ,tried pepperstone, plus 500 ,forexyard and few others ..had 70 K lost ..
left forex for few times..
started thinking what i am doing wrong ,I studied all my accounts /moves.
realized that after wining small moves greed take over ..ending up having big shot down with huge leverages...almost same mistakes in every account .
most imp thing not having SL attach to my moves.
I have restricted myself to 5-10 %of my account with every move .even holding bad trades for months always give you profit ..depends how much equity you are carrying .
brokers too make same difference but its not the gun which kills you its person behind the gun..
i am still learning from ppl like gator,cat,tom,magician,ken and so many here .they way of their trade and sharing their knowledge really helping me to recover my account .
Still having a bad habbit of not having SL which i am trying hard..
so bro just relax ..start with small moves ..try no to chase your loses..slow and steady build up .get your money by making traps for the price to hit you dont run after them..
Its better to try again but make sure you are using indicators , spend some time on forex books/tuotorial..understand don`t just memorize..
you will be ok bro))
so peace
Mate sorry for the loss.
i have same story not being a finance person but still struggled in forex world ,tried pepperstone, plus 500 ,forexyard and few others ..had 70 K lost ..
left forex for few times..
started thinking what i am doing wrong ,I studied all my accounts /moves.
realized that after wining small moves greed take over ..ending up having big shot down with huge leverages...almost same mistakes in every account .
most imp thing not having SL attach to my moves.
I have restricted myself to 5-10 %of my account with every move .even holding bad trades for months always give you profit ..depends how much equity you are carrying .
brokers too make same difference but its not the gun which kills you its person behind the gun..
i am still learning from ppl like gator,cat,tom,magician,ken and so many here .they way of their trade and sharing their knowledge really helping me to recover my account .
Still having a bad habbit of not having SL which i am trying hard..
so bro just relax ..start with small moves ..try no to chase your loses..slow and steady build up .get your money by making traps for the price to hit you dont run after them..
Its better to try again but make sure you are using indicators , spend some time on forex books/tuotorial..understand don`t just memorize..
you will be ok bro
))so peace
- #996,352
- Jun 2, 2015 11:00am Jun 2, 2015 11:00am
- Joined Dec 2014 | Status: Klugscheißer | 8,318 Posts
- #996,356
- Edited 11:24am Jun 2, 2015 11:09am | Edited 11:24am
- Joined Mar 2008 | Status: Name real with real own way | 23,413 Posts
Not understand?better not follow my analyses!doubt clearer first, risks ++
- #996,357
- Jun 2, 2015 11:13am Jun 2, 2015 11:13am
- Joined Jul 2007 | Status: Trader | 17,796 Posts
COT: The precious data ignored
- #996,359
- Jun 2, 2015 11:20am Jun 2, 2015 11:20am
- Joined Jul 2007 | Status: Trader | 17,796 Posts
COT: The precious data ignored
