I plan to quit forex!

Weeeell there is no need to go all out and be gung ho in support of someone who seem to be ready to leave this may be not exactly for the right reasons.
Most of us have lost our initial seed capital / deposit have we not ?
I have learnt a lot through my losses and have improved with time (read 3 years).
I also learnt that unless you have really developed that skill and mindset you should not give up your day job and think you can make a killing here.
So I still treat it as a hobby and a side income to pay for my new jackets and restaurant bill.

Go get a job by all means. Does not mean you have to give this up ?

No, you don't have to give up.
Realistic expectations can get you further than the over abundant delusion that is so prevalent in this game.

His initial investment was $445,000. The judge awarded him $1.6 million. Now tell me if this is not the way to trade.

Wow!! 64 posts in 15 hours! Obviously a very emotional topic -- someone intending to quit the game.

I had a very similar feeling in my first year of trading Forex, but then I learn that patience and most importantly Risk Management were missing from my strategy. My aim then changed to prioritize maintaining my capital by speculating but also using stop losses and hedging, rather than chase extreme profits... I recommended you stick at it but change your approach. Good luck!.

Don't give up just yet "fxstaton" because I've got a deal for you.You need to get yourself over to the commercial section and study the great trader "Darkstar" he will set you on the path to riches.Not only will you fast track your education he will even give a job trading his money!!!!!!I've copied a post I made on his forum a few day ago and would like to make you an offer that I'm hoping you can't refuse.

I have a great offer for some lucky person....wait for it,yes an original copy of "Order Flow Trading For Fun and Profit" by the infamous D.Goldsmith.This fabulous book is personally autographed by the one and only "Darkstar" and comes complete with a life time membership to (www.orderflowtrading.com),the book is in new condition.I have committed the contents of this book to memory and no longer require it so for the small sum of 8,000 NZD I'm prepared to pass it on to some aspiring trader.The asking price is essentially what I've lost trading FX in the past 8 years.PM me for payment options and remember "first in first served",may the luck be with you

This is all about controlling your emotions, and 95% cant. It is all about mindset, there are tons of systems out there, and a simple moving average should work if you follow the rules., the problem is following the rules and eliminating your ego from trading. maybe this is not for everybody, but the dream to be financially free, working from the comfort of your home or anywhere, being your own boss, keeps making us come back for more, specially when you are frustrated with your job, life etc..

Do not despair. In any case comes a time when you want quit everything. And leave only weak and unable to fight. There are only winners!
You can trade on the sidelines to rest mentally, because it is very important for a trader. Maybe you missed something in your strategy, you will have time to think things through and solve the problem.

Finish the quote: You will never be able to solve the problem, if you store the same thinking and the same approach that led you to this problem. Albert Einstein

No you still did NOT understand what I wrote or you probably don't want to. Losing is NOT a pre-requisite to winning; you CAN win without losing first, hence loss is NOT a pre-requisite. But losses is NOT avoidable. You will win but during your trading career, you will also incur losses; that's just the nature of trading. Is it eventually or expected? Not definitely and not necessarily. It just happens. That's all I am saying.

If you planned to quit, why did you write this? as an announcement to the market or something? are you trying to receive feedback to rationalize quitting?

its just a warning that liquidity will be thin
i think he's quit, other threads die but this one will live forever

I need encouragement at this moment,
Yesterday NFP and USD was good in data except the average earning hours data which the market took it to react.

This further made me went into shit...

About someone suggested the myfxbook, I believe that the results you are seeing are nice but when you join or subscribe, the period or the month you joined are bad trades, your account get burned too.

Forex is a business.. Sometime profit and sometime loss.. its a normal situation.
so, the key is Planning.

“A goal without a plan is just a wish.”
― Antoine de Saint-Exupéry

“By failing to prepare, you are preparing to fail.”
― Benjamin Franklin

Been through alot of big losses, account get wiped , but I don't quit trading, I take it as a lesson, I just keep on believing that I can make money from FOREX, the good result ONLY will come when you put more effort on what you're been doing, just don't stop trying. Maybe not only for FOREX but if you trying to open a business the same thing will happen if you give up easily . Wish you the best !



Regards,
Oswell

Forex is a disease.... you may quit but you will come back !

Yesterday, I blown up my account and this is the third time I blown up my account. But I am still longing for forex, I will start practising again next week and I will surely become a great trader one day. Don't give up, just learn from your failure and there will be nothing in the end.. success only

You should NEVER trade major news or econ. numbers like NFP unless you have at least six figures to spare. Some of the traders who went into a trade during the SNB crisis last year ended up losing 100K's of losses. So unless you are heavily capitalized to the hilt, you should never EVER trade in the vincinity of that. You either close the trade before the release of the number or start trading after the release but NEVER during. I have seen the NFP move the market upwards of several hundreds of pips within several minutes of release. To trade during the release is really pure gambling unless you know beforehand what the number is going to be.

All investment markets carry certain risk but we still have to trade prudently and in a way that is compatible with our capitalization level and risk acceptance level.

dont give up. i lost 4000 $ in 3 year . and never earn . but now yesterday i undestand what i done mistake.
but now will be make money next week.
1. open high time fram more then 1m
2. fallow the trand
3. if u loss means trand goes oppositive. no worry change ur order direction , close ur loosing trade. open martingle order.

MARTINGALE, the "Final Frontier", the "Final Solution" when ALL fails....

Has anyone seen a Martingale surviving for more than a year...?

There is an overemphasis on money but we have been trained to make it super important. And at the expense of noticing very important things going on around is culturally, by design, such as, who exactly is paying for the massive 'immigration' push in the US and in Europe which is being destroyed before our eyes? BUT that is not the reason to reply to this thread.

This thread is very appropriate for me right now and I am totally tempted to stop teaching because I cannot follow the market AND do the difficult special education job I do, based here in Hawaii. I know I can succeed in setting up a new schedule - am used to ridiculous hours already to do the job I have. I want to be able to follow the market. I want to be able to access London and New York. I have learned that I cannot make money using limit orders especially now, when sudden news affects things very much.

I don't intend to be in front of the screen for huge numbers of hours a day; I will be relieved if I do quit at the end of this academic year, to be finally doing what I've wanted to do properly since I began in April 2011 while working full-time as a teacher in a situation where EVERYONE ELSE (my co-workers) has BOUGHT INTO common core, and they are working for the money increases that come as they prove they can TEACH TO THE TEST. It was all designed that way by Bill Gates; it is culture creation, engineering, and worse. His children DO NOT get cc - they go to a private school which eschews anything resembling it. I CANNOT be cynical about cultural engineering, 'work force and work readiness training' etc etc. Hawaii took the bribe from the feds.

The HIGHER YOU GO, the more COMPROMISED YOU ARE. It is fact I see every day in the DOE in the state. More money = more compromised and less able to stand up for what you know to be true. THAT in itself is a huge amont of garbage I do not want to have to be around. It takes its toll.

There is increasing discontent in the US about cc - Massachusetts just quit - and I totally as a person cannot do that job entirely for the money especially with the damage it is doing to the children. Many of my colleagues cannot bear to learn anything about cc because they do teach for the money and are in many ways better at it (the regimented aspects that cc provides) - than I am.

I am suited to concentration and not interruption, which is what happens when you are teaching damaged children and damaged parents - like the vast majority in the US forced by propaganda to have huge numbers of covertly damaging vaccines before they are one year old, whether or not in special education. A huge amount of damage is done by video games used as behavior control by parents. It is tragic, tragic, because damage to the brain is permanent when children are addicted to the games (as are their fathers, some of them).

Anyway..... I cannot trade from Hawaii and also work as a teacher. Full-stop. I've had it, just about.


***Added: I do not watch S Hannity nor own a tv but found this just now on drudgereport.com. IT IS COMMON CORE in action: NWO/UN, Global government and bye bye sovereignty - whether of country or of individual - cooperative learning, not individual effort, is rewarded in cc and teachers are forced to teach not excellence, but something else - and the US used to rank #1: Anyway, here is a NYC public school kindergarten class in action:
http://www.hannity.com/articles/hanp...#ixzz41xdMfY6C