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I plan to quit forex!

  • #81
  • Mar 4, 2016 9:38pm Mar 4, 2016 9:38pm
I understand how you feel. I've been there many times myself. Recently, I was finally prepared to quit for good after learning and experimenting with trading for 3 years but oddly enough, I had a breakthrough in my trading. With my new understanding, I was able to make a demo account profitable with hundreds of pips. I've never been able to do that with demo or live accounts before. I'm prepared to go back live in a couple of weeks.

The breakthrough that you need to make you a better trader may be just around the corner. Sometimes, it can't take years for things to click and make any sense. I think of trading like putting a puzzle together. Once you put the pieces together, you're finally able to see the big picture because all of your learning and experience is clicking together.

Good luck with whatever you decide to do.
  • #82
  • Mar 4, 2016 9:58pm Mar 4, 2016 9:58pm
if anyone can offer me a help by using my last saving of usd1000, and slowly help me recover say 5% a month. I would be appreciated.

During the period, the 5% can help me and let me study with demo.
  • #83
  • Mar 4, 2016 10:07pm Mar 4, 2016 10:07pm
Whats your involvement in forex(in terms of years). Also, do you actually understand the market and have a sound trading strategy?
Quoting fxstaton
if anyone can offer me a help by using my last saving of usd1000, and slowly help me recover say 5% a month. I would be appreciated. During the period, the 5% can help me and let me study with demo.
  • #84
  • Mar 4, 2016 11:36pm Mar 4, 2016 11:36pm
Do not quit forex trading for ever try to built up trading skills in you so that you will do perfect trading next time. Demo will help you to get experience of trading .If you are making 5% monthly it is good than any other part time work. I hope you will be satisfied next time with your trading.
  • #85
  • Mar 5, 2016 12:17am Mar 5, 2016 12:17am
Quoting fxstaton
if anyone can offer me a help by using my last saving of usd1000, and slowly help me recover say 5% a month. I would be appreciated. During the period, the 5% can help me and let me study with demo.
You would find that profitable trading is characterized by the ability to follow a plan. Something you seem to have trouble doing considering your cognitive dissonance.

You may wish to observe your feelings about <needing to recover your losses> as well as the feelings that arise when <sticking to a plan>.
  • #86
  • Mar 5, 2016 12:58am Mar 5, 2016 12:58am
just quit. no need to start a thread.

I have a feeling you may suffer a small amount of depression and die a little inside. It's natural when you let your dreams die i guess.. Maybe that's why you started a thread.

But seriously, gambling is a problem that can wreck your life. If you feel you got a problem seek professional help.
  • #87
  • Mar 5, 2016 1:01am Mar 5, 2016 1:01am
But I am from US - you fool $




Quoting RBlackburn
Hidden
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g soros - remember M L in corner
  • #88
  • Mar 5, 2016 1:03am Mar 5, 2016 1:03am
Hi everyone
I have this issue too .
I loose many many many money in 18 months
Now .... I am done
no Money.....But i have hope to start again and again and again
what should i Do ????
  • #90
  • Mar 5, 2016 1:22am Mar 5, 2016 1:22am
Quoting forexgaint
Hidden
u are just a black shit. - haha how young are these kids posting on forex forums these days? cute.
  • #91
  • Mar 5, 2016 1:29am Mar 5, 2016 1:29am
I am sad but you all still funny here.
  • #92
  • Mar 5, 2016 1:38am Mar 5, 2016 1:38am
Quoting Forexia
{quote} 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.
there are people that are so good possible they did not have loss trade, but event that they did not have loss trade they still can not ALL IN in one trade, because just the matter of time they will have loss trade.
  • #93
  • Mar 5, 2016 2:05am Mar 5, 2016 2:05am
The problem with trading is that it carries with it a pipe dream that in a few years time you'll be riding the money train with the top hedgefund managers and bankers and cruising around in a drop top Lambo. So firstly you need to erase this illusion.

I used to think that all I needed was a great strategy and then i'd be laughing. But now I know that finding a profitable strategy is actually easier than you realise. But making that strategy profitable is actually harder than you realise.

It comes down to 2 things that you've probably heard over and over: mindset & money management. I won't bore you with a lesson in either of these, there are enough articles about them.

I'll simply say this: it's all about percentages. In order to not blow out your account during a draw down you have to trade small. And that becomes boring day after day so we increase our risk and during a draw down we lose our capital. It was never about the strategy. It's about the fact we probably won't live long enough to grow a $1k account into 1 million.

So be kind to yourself and be realistic. It's not hard to make consistent profits on the market, but they will be small percentages on a small account. That's just reality.
  • #94
  • Mar 5, 2016 2:15am Mar 5, 2016 2:15am
Quoting DotDom
The problem with trading is that it carries with it a pipe dream that in a few years time you'll be riding the money train with the top hedgefund managers and bankers and cruising around in a drop top Lambo. So firstly you need to erase this illusion. I used to think that all I needed was a great strategy and then i'd be laughing. But now I know that finding a profitable strategy is actually easier than you realise. But making that strategy profitable is actually harder than you realise. It comes down to 2 things that you've probably heard over...
concise
  • #95
  • Mar 5, 2016 2:59am Mar 5, 2016 2:59am
Quoting fxstaton
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
fxstaton, it's not about luck. When you say initially you get profit then all profits are gone, what happens?
  • #96
  • Mar 5, 2016 3:27am Mar 5, 2016 3:27am
don't worry..you will be back before you know it...we are all addicted to FX game and we might take occasional break from trading (when we are temporarily broke)..:o)
  • #97
  • Mar 5, 2016 3:43am Mar 5, 2016 3:43am
Quoting fxstaton
I am sad but you all still funny here.
you are the black sheep right now, the white ones are all happy not being in your place.

you may wanna step back for a while and forget about getting anything out of trading at all and think about what you are bringing to it instead.
Invincibility lies in the defence, the possibility of victory in the attack
  • #98
  • Mar 5, 2016 4:31am Mar 5, 2016 4:31am
good move. I hope i can be like you, out from forex market. but here I am, still get profit, and I still in forex.
Risk comes from not knowing what you're doing.
  • #99
  • Mar 5, 2016 4:49am Mar 5, 2016 4:49am
Quoting fxstaton
if anyone can offer me a help by using my last saving of usd1000, and slowly help me recover say 5% a month. I would be appreciated. During the period, the 5% can help me and let me study with demo.
Good grief, do people use their savings to trade, especially if they don't even have a proven track record? Maybe I am being a bit naive, but I always thought it was a given that you only trade with money you don't care to lose; the money you would spend on a night out. Then, if you are proving consistently profitable, invest a little more, but never your savings! Though really there would be no need to, because you are profitable, right?

What is wrong with demo? Are you profitable in demo but not in live? A lot is said about the transition from demo to live and mostly people put it down to human error, emotions etc. for failure to replicate demo results. I strongly believe that it is broker manipulation (and I have evidence) that makes it virtually impossible for you to profit in the long run. Of course they are going to keep you there long enough so you commit more money.

Last month there was an expo at London's ExCel. It was ICE and was all about gaming. There were software products targeted to sell to gaming outfits to rig in favour of the gaming outfit. There were also similar products specifically designed for forex brokers to do the same job; to rig prices.

For the record, I trade on demo and copy to live accounts. It's made a huge amount of difference.
  • #100
  • Mar 5, 2016 5:01am Mar 5, 2016 5:01am
Quoting jen101
{quote} Good grief, do people use their savings to trade, especially if they don't even have a proven track record? Maybe I am being a bit naive, but I always thought it was a given that you only trade with money you don't care to lose; the money you would spend on a night out. Then, if you are proving consistently profitable, invest a little more, but never your savings! Though really there would be no need to, because you are profitable, right? What is wrong with demo? Are you profitable in demo but not in live? A lot is said about the transition...
Nice. I wish I could be you.

It has been 14 hours I didn't sleep since last night.
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