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  • #101
  • Mar 5, 2016 5:36am Mar 5, 2016 5:36am
Quoting jen101
{quote} 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.
Hi,
What kind of evidence? What is the difference between demo and live in your opinion?
  • #102
  • Mar 5, 2016 6:00am Mar 5, 2016 6:00am
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...
Bold your statement. Good point mate!
Risk comes from not knowing what you're doing.
  • #103
  • Mar 5, 2016 6:02am Mar 5, 2016 6:02am
Quoting lightnight4
{quote} Hi, What kind of evidence? What is the difference between demo and live in your opinion?
I have spent a lot of time comparing accounts with different brokers side by side. If you did the same, you would be shocked. There are many ways brokers manipulate: with increasing spreads to take out your SL (especially if you have it at a fairly obvious place, along with many others), but the most shocking of all is that they slow the price, say when it is near your target (if say you have it short of a s/r level). Price may not even reach the s/r level, and remain some distance from it.

http://www.forexfactory.com/showthre...48#post8730048

Clearly on demo, they are not going to bother with such tactics because they want you to profit and go live with lots of real cash!
  • #104
  • Mar 5, 2016 6:11am Mar 5, 2016 6:11am
Quoting RBlackburn
{quote}
Lol. A friend of mine recently made a huge amount of money from trading. He said to me one day, "what shall I do about all the begging letters?". I replied, "Just keep sending them"
'Life' only really begins just over the edge of our comfort zones
  • #105
  • Mar 5, 2016 6:37am Mar 5, 2016 6:37am
Quoting Mingary
{quote} No difference. Since it is not possible not to have losses, then one can expect to lose in order to win. Or to win in order to lose eventually... Simple logic, really Joe happy trader is having 3 losses in a row, all part of his well researched strategy ... surely the next one will be a winner oops, it's not.
Cut your losses short and let yer winners run. Problem is is deciding when to TP but a good trailing stop will sort sort that once there are a goodly number of pips in a trade. Also, of course a stop loss set early on to cut a loser trade
'Life' only really begins just over the edge of our comfort zones
  • #106
  • Mar 5, 2016 6:39am Mar 5, 2016 6:39am
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.
There are folks who have shared their system / breakthrough that seem to work because of reasons you will figure out.
http://www.forexfactory.com/showthread.php?t=581581

Use the knowledge wisely and prudently and may be you will be rewarded. Nobody can take care of your money but yourself.
Live life king size !
  • #107
  • Mar 5, 2016 6:50am Mar 5, 2016 6:50am
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.
If this $1000 USD is your very LAST saving, you should save it instead of spending it on forex. Successful forex trading, in my opinion, takes a LOT more than $1000 USD to succeed and at the same time, the emotional pressure will be too high for you to be able to trade successfully anyway EVEN if you have developed a profitable strategy because with any strategies, no matter how profitable it is, you WILL lose money but you can't afford to lose this $1000 because it's your last saving.

I think you have made the right decision of quitting. You should go back to getting a regular job, work for a while, accumulate more funds and the same time get a demo account and develop a profitable strategy and then once the strategy is proven profitable then you come back to trade live, first part-time then full-time.

This is what I would do if I were in your situation, honestly.
Make your losses in demo. Earn your profits live.
  • #108
  • Mar 5, 2016 6:54am Mar 5, 2016 6:54am
Quoting jen101
{quote} I have spent a lot of time comparing accounts with different brokers side by side. If you did the same, you would be shocked. There are many ways brokers manipulate: with increasing spreads to take out your SL (especially if you have it at a fairly obvious place, along with many others), but the most shocking of all is that they slow the price, say when it is near your target (if say you have it short of a s/r level). Price may not even reach the s/r level, and remain some distance from it. http://www.forexfactory.com/showthre...48#post8730048...
I have been aware of these games that forex brokers play. I do have a question. Do they not fear a backlash from some kind of regulatory body like SEC ?
I thought it was no longer a wild west as it used to be.
Live life king size !
  • #109
  • Mar 5, 2016 6:59am Mar 5, 2016 6:59am
Quoting Forexia
{quote} If this $1000 USD is your very LAST saving, you should save it instead of spending it on forex. Successful forex trading, in my opinion, takes a LOT more than $1000 USD to succeed and at the same time, the emotional pressure will be too high for you to be able to trade successfully anyway EVEN if you have developed a profitable strategy because with any strategies, no matter how profitable it is, you WILL lose money but you can't afford to lose this $1000 because it's your last saving. I think you have made the right decision of quitting....

All right. Thanks.
  • #110
  • Mar 5, 2016 7:02am Mar 5, 2016 7:02am
Quoting fxstaton
{quote} All right. Thanks.
FIRST get some SLEEP!!!
Make your losses in demo. Earn your profits live.
  • #111
  • Mar 5, 2016 7:04am Mar 5, 2016 7:04am
Quoting Forexia
{quote} FIRST get some SLEEP!!!
Not easy. Still thinking about the losses.
  • #112
  • Mar 5, 2016 7:15am Mar 5, 2016 7:15am
Quoting foxtrader16
{quote} I have been aware of these games that forex brokers play. I do have a question. Do they not fear a backlash from some kind of regulatory body like SEC ? I thought it was no longer a wild west as it used to be.
First forex brokerage firms are not under the jurisdiction of SEC; they are being regulated by the NFA/CFTC as they consider spot forex of what we trade as CFD, hence a derivative product.

Second all NFA/CFTC cares about is them complying with the capital requirement, is registered with them so in that aspect yes it's made the forex industry less of the "wild wild west" where it used to be you give a broker your initial deposit and you don't even know whether you will get it back and whether the broker will still be there. They have fined a few firms for overwhelming negative slippaging their clients and it has seen results but that's pretty much all what they have done for the retail forex trading industry besides lowering the leverage rate to be the same of that of the futures industry. They fry the bigger fish like the insider trading, price colluding practices by all those huge brokerage firms because they are more lucrative and more press-worthy for them. So comparing to those, they are not going to care about some stop-hunting, requoting, delay execution by some brokers. To them that's all part of their business and besides all the HUGE LP banks/brokerages all engage in requoting and delay executions against their own clients, the retail forex brokers.
Make your losses in demo. Earn your profits live.
  • #113
  • Mar 5, 2016 7:18am Mar 5, 2016 7:18am
Quoting fxstaton
{quote} Not easy. Still thinking about the losses.
That's WHY you need to SLEEP!!! Once you've had a restful sleep, when you wake up, you would've forgotten all about your losses cuz it's gonna be a new day.

And then you are going to sit down, find a full-time job. With the unemployment rate at 4.9% in the US, you should be able to find a good job in no time.

Work to accumulate some capital BESIDES saving. Once you started working with the regular paycheque coming in, your loss will be nothing and will be the long forgotten past. Meanwhile, get a demo to develop a CONSISTENTLY profitable strategy and then gradually trade live first part-time and then full-time. Trust me, we have ALL been there. It's NOT the end of the world, far from it. You WILL get everything back, TRUST ME.

But FIRST, you need to SLEEP!! Everything starts with sleep. Get off this thread, and go to bed!!!
Make your losses in demo. Earn your profits live.
  • #114
  • Mar 5, 2016 7:23am Mar 5, 2016 7:23am
Quoting Forexia
{quote} That's WHY you need to SLEEP!!! Once you've had a restful sleep, when you wake up, you would've forgotten all about your losses cuz it's gonna be a new day. And then you are going to sit down, find a full-time job. With the unemployment rate at 4.9% in the US, you should be able to find a good job in no time. Work to accumulate some capital BESIDES saving. Once you started working with the regular paycheque coming in, your loss will be nothing and will be the long forgotten past. Meanwhile, get a demo to develop a CONSISTENTLY profitable...
Thanks. Can I have private chat with you through skype?
  • #115
  • Mar 5, 2016 7:24am Mar 5, 2016 7:24am
Quoting fxstaton
{quote} Thanks. Can I have private chat with you through skype?
Not until you have had some sleep of at least EIGHT HOURS!!! And then after that, you can PM me here.
Make your losses in demo. Earn your profits live.
  • #116
  • Mar 5, 2016 7:29am Mar 5, 2016 7:29am
Quoting Forexia
{quote} Not until you have had some sleep of at least EIGHT HOURS!!! And then after that, you can PM me here.
It is 9.28pm here. I am not tired to get sleep.

FF PM seems not work


my skype louis.koo5
  • #117
  • Mar 5, 2016 7:33am Mar 5, 2016 7:33am
Quoting fxstaton
{quote} Not easy. Still thinking about the losses.
Also there are brokers out there that will let you start with 20 bucks and trade 1/100 of a penny.
If you are good at something, never do it for free--Joker
  • #118
  • Mar 5, 2016 8:07am Mar 5, 2016 8:07am
Quoting fxstaton
{quote} It is 9.28pm here. I am not tired to get sleep. FF PM seems not work my skype louis.koo5
9:28 PM is PERFECT time to go to sleep. People have lost millions of dollars of not just their own money but other people's money and they are able to sleep. If you lost just several thousands of dollars of your own money and you can't sleep anymore then maybe trading is not for you. Not to be discouraging or anything but just trying to be realistic. In trading, you HAVE to be able to accept losses. You MUST control your losses yes but you have to not be bothered by it.

WHY doesn't the PM on FF work? You need to find out. I don't give off skype in public, sorry.
Make your losses in demo. Earn your profits live.
  • #119
  • Mar 5, 2016 8:17am Mar 5, 2016 8:17am
Last time I replied to a similar thread which ended up with a big controversy, So I'll keep it straight " Don't quit, you can make it. The day you will start making your best trades instead of money, Success will be yours "


V
Precise Execution!
  • #120
  • Mar 5, 2016 8:19am Mar 5, 2016 8:19am
Claps for everyone supporting #Respect


V
Precise Execution!
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