I plan to quit forex! | Forex Factory

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I plan to quit forex!

  • #1
  • First Post: Mar 3, 2016 8:53pm Mar 3, 2016 8:53pm
I have no luck in forex. Initial period I get profit, and few months all profits and capital are gone.

I think I am not suitable in forex and will quit all and back to work
  • #2
  • Mar 3, 2016 9:21pm Mar 3, 2016 9:21pm
i think its ok, because trading is not for everyone.
but its all up to you.
  • #3
  • Mar 3, 2016 10:19pm Mar 3, 2016 10:19pm
this is a smart choice. Its not what everyone imagines it to be when they first start, everyone starts with the same mindset based on some dream of the end result. This is a expensive business to be in and not one you want to pay to learn! Better to cut your losses now then keep repeating the same thing and expecting a different result.

reality vs dreams very different. I wish you the best of luck and success in your future endeavours.
All posts are my personal opinion
  • #4
  • Mar 3, 2016 10:36pm Mar 3, 2016 10:36pm
Quoting Rtm
this is a smart choice. Its not what everyone imagines it to be when they first start, everyone starts with the same mindset based on some dream of the end result. This is a expensive business to be in and not one you want to pay to learn! Better to cut your losses now then keep repeating the same thing and expecting a different result. reality vs dreams very different. I wish you the best of luck and success in your future endeavours.
Thanks. But it is really a expensive tuition fee paid for it.

I wish to get someone get me to recover some monthly so such trading losses wont be that huge.
  • #5
  • Mar 3, 2016 10:43pm Mar 3, 2016 10:43pm
Good move.
Quit while you are ahead (:
No one succeed at this game long term.
A real job will make you far more money long term than playing the forex during that period.
  • #6
  • Mar 3, 2016 10:44pm Mar 3, 2016 10:44pm
not sure why a plan is needed here. Boy do people make things complicated.
  • #7
  • Mar 3, 2016 11:43pm Mar 3, 2016 11:43pm
Quoting fxstaton
{quote} Thanks. But it is really a expensive tuition fee paid for it. I wish to get someone get me to recover some monthly so such trading losses wont be that huge.
Ok, guarantee way to recover it. Work a job and save money and put into savings account. Eventually money will be recovered.

Trying to 'recover' your losses in the market is probably the worst thing you possibly do. The mentality, risk profile, just asking for disaster.
All posts are my personal opinion
  • #8
  • Mar 3, 2016 11:55pm Mar 3, 2016 11:55pm
I've been through this and took a break of several years. It was the right decision.
  • #9
  • Mar 3, 2016 11:55pm Mar 3, 2016 11:55pm
Quoting Rtm
{quote} Ok, guarantee way to recover it. Work a job and save money and put into savings account. Eventually money will be recovered. Trying to 'recover' your losses in the market is probably the worst thing you possibly do. The mentality, risk profile, just asking for disaster.
It seems that the 95% traders in forex are failed and 5% are success.

95% brokers earn money!!
  • #10
  • Mar 4, 2016 3:54am Mar 4, 2016 3:54am
Forex is one way, once you are in you never go out, all above poster who advice you to quite and still here and commenting on FX forums and they are not able to quite, so better learn skills, again start demo and start with small money.
NO STOP LOSS TRADER
  • #11
  • Mar 4, 2016 3:56am Mar 4, 2016 3:56am
remember one thing, FX is hard but not some thing impossible, if 5% can do it, you can do it too, unless you consider your self too dumb.
NO STOP LOSS TRADER
  • #12
  • Mar 4, 2016 4:35am Mar 4, 2016 4:35am
Being rich and making more money than regular people isn't easy task!
Forex is one of the tools that helps you make your life different that others alongside other tools and it gets huge amount of your life time to make it work for you so it's not something impossible but yeah it very hard.
For me Forex makes small portion of my whole investment portfolio, I always recommend others to do the same and don't put all of your eggs in one basket even best FX traders can blow their whole account in circumstances like SNB.
Wish you success on rest of your life.
Without an edge MM is useless!
  • #13
  • Mar 4, 2016 4:50am Mar 4, 2016 4:50am
Yes it is not for every one but for risk takers.
Dear now u have tution and some abc of market first dont depend on its profit making but making of survive.
Just open demo acc and pic a strategy and stick with it until a month but sure risk reward minimum 1:1. After that analyze your result may be this is a fortune of your life. And if u not stick a method then leave it.
Trading is easiest and hardest job to earn money...
Cheers...
Never give up..
Trade fearless not careless...
  • #14
  • Mar 4, 2016 5:05am Mar 4, 2016 5:05am
thank you all for giving me all the encouragement.

but i still believe this business is not for me.. since i have tried many ways and burned many many accounts...
  • #15
  • Mar 4, 2016 5:51am Mar 4, 2016 5:51am
It is basically gambling, even if only a few will ever admit it (who cares!).

So if you have capital, you may "invest" part of it in forex and play the market, try to make some smart trade, make some money.

It is not a solid business like many would like to think, one day you win, one day you loose, you never know what's coming, so enjoy the ride.

And if you have enough, just quit it (you will come back to it, maybe next month or maybe next year, or in 10yrs from now).
  • #16
  • Mar 4, 2016 6:31am Mar 4, 2016 6:31am
Quoting dkrock
There are so many losing traders because they all think this is something they can do, without any education, without any experience. It is probably the hardest job in the world. You are walking down a sidewalk, following the person in front of you, and must predict which direction he will go when he reaches the intersection. Left? Right? Forward? Turn around? How can you possibly get that right every time? Some of us use Geometry, Trigonometry, Calculus, and Statistics to make probable guesses. Did you ace those classes like I did? I was the curve....
when did i send message to u?
  • #17
  • Mar 4, 2016 6:38am Mar 4, 2016 6:38am
seems like ur from msia. which part u from
  • #18
  • Mar 4, 2016 6:53am Mar 4, 2016 6:53am
Quoting Kaiszheng
seems like ur from msia. which part u from
penang... pm u but cant gon through
  • #19
  • Mar 4, 2016 7:05am Mar 4, 2016 7:05am
if you cant trade by your self seek help from those who knows how to trade, read more and more and also keep your friends those who are making money.

check out TE section see how many are already making money.
NO STOP LOSS TRADER
  • #20
  • Mar 4, 2016 7:37am Mar 4, 2016 7:37am
Quoting fxstaton
{quote} penang... pm u but cant gon through
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