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Should I quit trading forex? 219 replies

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  • #181
  • Mar 6, 2016 3:17am Mar 6, 2016 3:17am
Quoting Mingary
{quote} .. and why are you on FF ? I am saying that the wannabe forex millionaire is brainwashed with the idea that he/she should only trade with money that he/she CAN afford to lose. In fact, the aspiring forex millionaire should only trade with money that he/she CANNOT afford to lose.
If anyone is doing this in spite of the repeated warnings to the contrary, then they are candidates for the financial darwin award. They will take care of themselves.
If you are good at something, never do it for free--Joker
  • #182
  • Mar 6, 2016 3:18am Mar 6, 2016 3:18am
Quoting jmn5611
{quote} Absence of evidence is not evidence of absence. You continue to ignore this fact. Why?
The very lack of evidence is thus treated as evidence; the absence of smoke proves that the fire is very carefully hidden." C.S. Lewis

You should be aware that the argument 'Absence of evidence is not evidence of absence'
Is a well known logical fallacy called "Argument from ignorance"

.. so, are those retail forex millionaires "very carefully hidden" ?
  • #183
  • Mar 6, 2016 3:19am Mar 6, 2016 3:19am
Quoting Markj
Mingary your wasteful time on these forums and constant negative input can obviously only be summed up by your inability to have ever traded successfully. Your post are always like a broken record much like a women scorned seeking some form of revenge on the market. Your loosing psychology is much like that of an alcoholic, they drink and do not want to drink alone so try to encourage everyone else to drink, because you loose you think everyone else should loose.
An ironic analogy because, to be fair, Mingary is doing the opposite of those who enable OP's self-destructive behaviour with positive 'light at the end' type comments.

The judgments that have led OP to produce his current condition cannot be helped by mere advice or encouragement. His system of behaviour doesn't seem conducive to profitable trading. If not apprehended at this level, it simply selects the advice that reinforces its beliefs and discards everything to the contrary, thus continuing the cycle.
  • #184
  • Mar 6, 2016 3:24am Mar 6, 2016 3:24am
Quoting jmn5611
{quote} If anyone is doing this in spite of the repeated warnings to the contrary, then they are candidates for the financial darwin award. They will take care of themselves.
I know I am quoting some "guru", but he happens to be right in this case

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  • #185
  • Mar 6, 2016 3:25am Mar 6, 2016 3:25am
Quoting Mingary
{quote} .. and why are you on FF ? I am saying that the wannabe forex millionaire is brainwashed with the idea that he/she should only trade with money that he/she CAN afford to lose. In fact, the aspiring forex millionaire should only trade with money that he/she CANNOT afford to lose.
looking at your Status: I should be on your ignore list. I don't know if your serious or not

and from all the reply you posted , i can see that lose millions on Forex ....

I really wish you are doing good in real life instead of keeping people off Forex.

You should care more for yourself

I'm on FF just see some interesting stuff ... and check my trade explorer

just like those who go on FB on their free time but instead i go on FF... not much different .
  • #186
  • Mar 6, 2016 3:31am Mar 6, 2016 3:31am
Quoting Atokys
{quote} An ironic analogy because, to be fair, Mingary is doing the opposite of those who enable OP's self-destructive behaviour with positive 'light at the end' type comments. The judgments that have led OP to produce his current condition cannot be helped by mere advice or encouragement. His system of behaviour doesn't seem conducive to profitable trading. If not apprehended at this level, it simply selects the advice that reinforces its beliefs and discards everything to the contrary, thus continuing the cycle.

I concur
  • #187
  • Mar 6, 2016 3:45am Mar 6, 2016 3:45am
Quoting fxstaton
If one day I become success trader, I would do the same to help those who suffer trading loss and give them help to recover.
Good luck to you! Never give up!
  • #188
  • Mar 6, 2016 3:46am Mar 6, 2016 3:46am
Quoting Mingary
{quote} The very lack of evidence is thus treated as evidence; the absence of smoke proves that the fire is very carefully hidden." C.S. Lewis You should be aware that the argument 'Absence of evidence is not evidence of absence' Is a well known logical fallacy called "Argument from ignorance" .. so, are those retail forex millionaires "very carefully hidden" ?
You just managed to find a great example of that logical fallacy in process with that CS Lewis post. Do science much?

This represents a type of false dichotomy in that it excludes a third option, which is that: there may have been an insufficient investigation, and therefore there is insufficient information to prove the proposition be either true or false. Nor does it allow the admission that the choices may in fact not be two (true or false), but may be as many as four,
If you are good at something, never do it for free--Joker
  • #189
  • Mar 6, 2016 4:27am Mar 6, 2016 4:27am
Particularly for someone, ya you got it right its you but not you people its him.
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  • #190
  • Mar 6, 2016 4:29am Mar 6, 2016 4:29am
Listen. This thread is popular because I guess all traders come to this cross road. Probably more than once..

I thought about starting a thread about how not to not lose money trading forex.

If you had five hours to chop down a tree with an axe, would you spend the first four sharpening your axe?

I gambled for many years on horsesand greyhounds. and if you want to gamble then it's better to know someone who knows something.

but if you don't know anyone who knows anything then accept your only friend is going to be a statistic and the only way to collect then is from a shite load of raw data which is highly time consuming. and once you have some statistical data to get excited about , the old addage "past performace dose not guarentee futuer peformace will rear it's ugly head and force you to stay on your toes. I follow quantam trends and they trend and range in a similar fashion as price action trends.

Gambaling is a mugs game. Trading is only for the dedicated who know how to adapt when conditions evolve.. in a lot of ways algos have made things easier for the individual investor, if you know where to look.
  • #191
  • Edited 4:51am Mar 6, 2016 4:37am | Edited 4:51am
Quoting jmn5611
{quote} You just managed to find a great example of that logical fallacy in process with that CS Lewis post. Do science much? This represents a type of false dichotomy in that it excludes a third option, which is that: there may have been an insufficient investigation, and therefore there is insufficient information to prove the proposition be either true or false. Nor does it allow the admission that the choices may in fact not be two (true or false), but may be as many as four,
The C.S. Lewis quote is an example of sarcasm that clearly shows the logical failure of a statement such as 'Absence of evidence is not evidence of absence'

Now, let's suppose we agree it's a "false dichotomy" and there is not enough evidence to prove the proposition be either true or false.
Therefore, it comes down to a question of belief
(I am using the rhetorical "you")
Do you want to believe - and remain ignorant
or, do you want to know - and open your mind

To me, my answer is a loud "i don't know" and that the best evidence in most cases is that seeing no smoke means there is no fire. Therefore the onus is on the believer to provide the proof to the contrary

So my question to you is still the same: are retail forex millionaires "very carefully hidden" ?
  • #192
  • Mar 6, 2016 4:37am Mar 6, 2016 4:37am
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

i advice you - do not quit

there are many simple methods to return your cabital and money back from the same forex with a good broker

yes there are time i cried because i lost money in the forex... But i have developed my techniques and my motivations to produce more and to cover old losses and still learning and teaching

forex is a very risky world but once you master it and understand its rules.... You will be the superman of that era...

I wish you good luck
GUYS BE AWARE FROM HUNTING YOUR STOP LOSSES BY YOUR BROKER & BY "GHOSTS"
  • #193
  • Mar 6, 2016 4:40am Mar 6, 2016 4:40am
Quoting BubaYaga
Listen. This thread is popular because I guess all traders come to this cross road. Probably more than once.. I thought about starting a thread about how not to not lose money trading forex. If you had five hours to chop down a tree with an axe, would you spend the first four sharpening your axe? I gambled for many years on horsesand greyhounds. and if you want to gamble then it's better to know someone who knows something. but if you don't know anyone who knows anything then accept your only friend is going to be a statistic and the only way to...

YES TRUE 100%

Gambaling is a mugs game. Trading is only for the dedicated who know how to adapt when conditions evolve.. in a lot of ways algos have made things easier for the individual investor, if you know where to look.
GUYS BE AWARE FROM HUNTING YOUR STOP LOSSES BY YOUR BROKER & BY "GHOSTS"
  • #194
  • Mar 6, 2016 4:55am Mar 6, 2016 4:55am
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
There is no luck involved in trading Forex if you work very hard and approach it as a business, not as a gambling.

Forex and other financial markets (such as Equities, Futures, and Options, etc.) are not suitable for people who want to make easy money without taking times, devotion, diligence, patience. Plus most of the traders learn the wrong ways to trade from internet. You need to figure out a strategy and fine tune it, and practice, practice, practice. As for learning curve, average successful traders need up to 10,000 hours or up to 4 to 5 years in order to thoroughly achieve mastery before switching from demo to live.

The success rate for people who trade Forex is about 5% (or even less). This means, 5% of the successful traders make the most money from the markets. There is no free lunch. Only successful traders enjoy making the most money they deserve.

It is not a bad idea for people like you to switch back to the regular day jobs after experiencing difficulties in trading industry. It is suggested that you to work diligently at whatever you do, not just the Forex market
  • #195
  • Mar 6, 2016 5:00am Mar 6, 2016 5:00am
Quoting TwFXtrader
{quote} looking at your Status: I should be on your ignore list. I don't know if your serious or not and from all the reply you posted , i can see that lose millions on Forex .... I really wish you are doing good in real life instead of keeping people off Forex. You should care more for yourself I'm on FF just see some interesting stuff ... and check my trade explorer just like those who go on FB on their free time but instead i go on FF... not much different .
You see threads such as this one which is only the very tip of the iceberg of what a misery maker retail forex trading really is. It goes largely unnoticed because the amounts are small and the thousands of losers feel too stupid to complain.
The question to ask any forex brokerage company: "Where are the customer's yachts" (:
That being said, it is possible to make a few pips from time to time ... unfortunately, there are always rumors of someone, who knows someone who has a cousin who has a neighbor "who is making a killing in the forex"
  • #196
  • Mar 6, 2016 5:01am Mar 6, 2016 5:01am
there's no fcking light at the end of the tunnel. get the fck out of the the tunnel and dig your way to the surface. take a deep breath and avoid the temptation to dig another hole as others will encourage you to do... on this thread... on this site...
  • #197
  • Mar 6, 2016 5:04am Mar 6, 2016 5:04am
Quoting Mingary
{quote} You see threads such as this one which is only the very tip of the iceberg of what a misery maker retail forex trading really is. It goes largely unnoticed because the amounts are small and the thousands of losers feel too stupid to complain. The question to ask any forex brokerage company: "Where are the customer's yachts" (: That being said, it is possible to make a few pips from time to time ... and then there are always rumors of someone, who knows someone who has a cousin who has a neighbor "who is making a killing in the forex"

It is possible to successfully trade for a living Mingary, although most fail according to what I have read.
The Trend Is Your Friend
  • #198
  • Mar 6, 2016 5:04am Mar 6, 2016 5:04am
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

I am not sure how long you were in the markets or what you had learned in order to assist your trading. People think it is easy, but they spend nothing on educating themselves, did you have a teacher, what was your strategy, it sounds like you got lucky, and you were not trading with stops and possibly overtrading and you gave it all back. Not sure how much you lost but what ever the amount it was I am sure you would never have paid that to someone to actually give you a proper method that works.

So answer me the question with so little preparation in any business and so little guidance how did you ever expect to succeed? Tell me one business I can run knowing nothing and make money. Trading is not about luck, its about skill and knowledge applied to the markets in order to gain an edge that you expoit. Sometimes the edge fails, you lose a little, mostly the edge works and you make a profit, if you have no edge you are trading on luck, and that never lasts.
  • #199
  • Mar 6, 2016 5:08am Mar 6, 2016 5:08am
Quoting Hurst
{quote} I am not sure how long you were in the markets or what you had learned in order to assist your trading. People think it is easy, but they spend nothing on educating themselves, did you have a teacher, what was your strategy, it sounds like you got lucky, and you were not trading with stops and possibly overtrading and you gave it all back. Not sure how much you lost but what ever the amount it was I am sure you would never have paid that to someone to actually give you a proper method that works. So answer me the question with so little...
Hurst is right.
The Trend Is Your Friend
  • #200
  • Mar 6, 2016 5:16am Mar 6, 2016 5:16am
lets expand this to the catch 22 of successful fx trading. Are you educated? why don't you have a proper job? If you had a proper job, why would you bother to speculate in this bullshit 'industry"?
Anyone who has worked as a prop trader knows most retail traders are considered "presumed" under educated.
If you're speculating in the FX game chances are you have a below average IQ.
Because educated people have tangible jobs with guaranteed income.

But most retail traders work at least part time and trade as a hobby.

fact. don't feel bad bro.
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