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Reasons for being a loser master

  • #41
  • Apr 16, 2016 5:35am Apr 16, 2016 5:35am
Quoting Hickson
{quote} Why do you keep on trolling people here in every thread? If you think you cannot make money, ok. But leave the rest alone who is making money please. I know several people who already make a living with trading over many years, so your claim that nobody makes money is simply not the truth.
It's always "someone who knows someone who has a cousin whose neighbor knows someone who is making a killing in the forex"
  • #42
  • Apr 16, 2016 5:35am Apr 16, 2016 5:35am
Quoting sagor482
if I follow the proper money management then I believe that I would never losse
Wrong. You need a consistent edge. Money management is simply taking care of that edge.

Quoting sagor482
and another thing doing profit in demo and real account is extreme
Wrong. You have to be at a point not to care about the money, whether demo or real. Focus on getting it right and the money will come, just like in any business.

Quoting sagor482
I belive that I have to be more patient to be a winner
Right! I finished the week on 3 consecutive losers but I was up for the week. 1 of those trades missed target by less than 1 pip, reversed and hit stop loss. Another missed target by about 5 pips, reversed and hit the stop. Gosh, shit happens, get over it and have a nice weekend!
  • #43
  • Apr 16, 2016 5:37am Apr 16, 2016 5:37am
Quoting mozart4646
Your lot size is way to big with a $2000 account you should be doing .02 lots then youll be a lot less stressed about your losses
0.2 is still way too big for 2 k, especially if you are simply not winning yet.
Fix up, trade sharp ...
  • #44
  • Apr 16, 2016 5:37am Apr 16, 2016 5:37am
Quoting vera
Follow these rules, it helps me: 1. Money is made by sitting, not trading. 2. Letting losses run is the most serious mistake. 3. You have to be willing to make mistakes regularly; there is nothing wrong with it. 4. If you have a losing position that is making you uncomfortable, the solution is very simple: Get out, because you can always get back in. 5. Whatever happens in the stock market today has happened before and will happen again. 6. In this business if youre good, youre right six times out of ten. 7. Dont focus on making money, focus on...
1. Money is made by sitting, not trading.
no

2. Letting losses run is the most serious mistake.
yes

3. You have to be willing to make mistakes regularly; there is nothing wrong with it.
no

4. If you have a losing position that is making you uncomfortable, the solution is very simple: Get out, because you can always get back in.
yes

5. Whatever happens in the stock market today has happened before and will happen again.
no

6. In this business if youre good, youre right six times out of ten.
no

7. Dont focus on making money, focus on protecting what you have
no
  • #45
  • Apr 16, 2016 5:38am Apr 16, 2016 5:38am
Quoting Mingary
{quote} It's always "someone who knows someone who has a cousin whose neighbor knows someone who is making a killing in the forex"
Good that they are just among my well known friends
Fix up, trade sharp ...
  • #46
  • Apr 16, 2016 5:52am Apr 16, 2016 5:52am
Quoting jen101
{quote} The cause of all your problems is too much testosterone . Happens in life in general, not just trading.
I call it traderosterone but same in everything really ... .. Good to see some posts from you sweetie.

Quoting GDR3k
{quote} Taking Estrogen was the best thing I ever did
Gezzzz buddy, I thought I saw a little cleavage showing lately. .... Thought you were just working out more.
Ghost Rider - WWTBMD?
  • #47
  • Apr 16, 2016 5:56am Apr 16, 2016 5:56am
Quoting VaBikePacker
I wouldn't trade more than a dime per pip until you can gain control over things you've indicated you know you need to improve on. I would keep the size per trade consistent as well and STOP varying that for now. There's no shame in trading penny sized lots to gain the experience you need and force the changes you need to make. Many here might suggest that trading so small is useless but my take is this: if you can't discipline yourself and execute with small numbers, you've got no business trying to trade larger numbers. The results only become...
Ghost Rider - WWTBMD?
  • #48
  • Apr 16, 2016 6:07am Apr 16, 2016 6:07am
Quoting Shabs19
{quote} I think you need to work on your "profitable" strategy first, maybe patience is a big problem and you are in a hurry to make big bucks quickly and now it seems that you are revenge trading to claw back your losses. This is probably why you are risking far more than you or your account can tolerate. Money management will only work if you have a profitable strategy first that you fully understand and can follow. Maybe you are adjusting this strategy as the trade is entered and therefore are not achieving any consistency due to...
Great post Shabs! Especially the bold line. Nothing and I mean NOTHING will kill accounts faster than risking more to get back a loss. Trust me, I speak from experience on this one. A lot of it! ... lol

Losses happen, to ALL of us. It's simply part of any business. If you can't take a loss and calmly move on with your method, stop, take a break for a while until you can come back clear minded, relaxed and focused again. If you're not completely comfortable with the size of your trade AND the risk of losing it, you're trading way too much.
Ghost Rider - WWTBMD?
  • #49
  • Apr 16, 2016 6:49am Apr 16, 2016 6:49am
Quoting VaBikePacker
I wouldn't trade more than a dime per pip until you can gain control over things you've indicated you know you need to improve on. I would keep the size per trade consistent as well and STOP varying that for now. There's no shame in trading penny sized lots to gain the experience you need and force the changes you need to make. Many here might suggest that trading so small is useless but my take is this: if you can't discipline yourself and execute with small numbers, you've got no business trying to trade larger numbers. The results only become...
you are right
  • #50
  • Apr 16, 2016 6:52am Apr 16, 2016 6:52am
Quoting Mingary
If you want to stop losing and start winning do this: "When you meet the Buddha on the road, kill him" Also, don't believe for & second that ANYONE is making money. NO ONE is making money trading the forex. Everything you read and hear of any sign of success is all half lived and half lies at best. Now, enjoy the game (:
​Looking at your join date here on the factory it makes sense why you are not winning your trades. Nobody starts yesterday and are successful today. NOBODY.
You are at a typical fx crossroad where you cannot see the light.
It feels as if the market,brokers and other roleplayers are out to get you. Frustration is your disease.
The sad part is that you are sabotaging your mind and spirit to the extend that your road to success will be longer and more painfull than others. Your subconcious mind is working completly against you because you already programmed yourself for failure.
Every single post of yours are nothing less than brainwashing yourself into believing that you will not succeed.
You are your own worst enemy and it is reaping its negative rewards against you.
You are what you think you are.
FX is much easier than you think, but unfortunately you have programmed yourself to believe the opposite.
You should know better than allowing yourself into "Stinking Thinking"
Never Ever Give Up!
  • #51
  • Apr 16, 2016 6:56am Apr 16, 2016 6:56am
Quoting Shabs19
{quote} I think you need to work on your "profitable" strategy first, maybe patience is a big problem and you are in a hurry to make big bucks quickly and now it seems that you are revenge trading to claw back your losses. This is probably why you are risking far more than you or your account can tolerate. Money management will only work if you have a profitable strategy first that you fully understand and can follow. Maybe you are adjusting this strategy as the trade is entered and therefore are not achieving any consistency due to this....
you are 1000% correct and iam now concernteting on my money managemantmanagemantand working in my profitable strategy to make it bettar.
  • #52
  • Apr 16, 2016 6:57am Apr 16, 2016 6:57am
Quoting albchr
{quote} I call it traderosterone but same in everything really ... .. Good to see some posts from you sweetie. {quote} Gezzzz buddy, I thought I saw a little cleavage showing lately. .... Thought you were just working out more.
If you live in London and drink the tap water, it has the same effect.

Good to see you around too, Chris!
  • #53
  • Apr 16, 2016 7:16am Apr 16, 2016 7:16am
Do not use all capital and use SL, even if you think you are 100% sure the price will go there , because after 10 minutes could have some braking news or terrorist attack in this country and before prices go there will fall a lot and your account will be zero. And you will be right the price will go there , but you do not care anymore because you do not have anything. Shit happens . A recent example euro went well and unfortunately a terrorist attack in Brussels dipped the euro then go up again, but zeroing multiple accounts like yours.
  • #54
  • Apr 16, 2016 7:30am Apr 16, 2016 7:30am
Quoting sagor482
{quote} you are 1000% correct and iam now concernteting on my money managemantmanagemantand working in my profitable strategy to make it bettar.
Looking at your TE, you need to quit trading live right away and focus on getting it right in demo first, or else you will lose the lot.

Edit: sorry, I didn't realise it was a cent account.
  • #55
  • Apr 16, 2016 7:30am Apr 16, 2016 7:30am
I've blown two 100$ accounts, it is because my lot size is too big for my account, I thought 0.1 is the minimum I should use in order to make decent money.

I did made money with that trading style, I made it to 200$ in a week and then lost it again.

Then I sit down and think, maybe I should use the REAL minimum size 0.01 since my account is only 100$ anyway, I should be disciplined and not risking too much per trade, I should start small and work my account to 200$, then 300$ and so on.

This is my third 100$ account, I didn't blow it this week, I made my account to 146$, 80% winners and 20% losers.

With proper lot size, patience, and sharp in taking trades, you will make it eventually.
Only take the trades that will not make you doubt, sometimes there will be no signals for one whole day, not trading for that day is also a way of trading, you won't lose money, use 0.02 if you are fking sure about that trade, use 0.02 too if the reasonable stop loss is still too small so that if the trade turned out to be right, you gain x2.

My current plan now is to use 0.02 when my account reached $300, 0.03 when $600, 0.04 when $900, increase lot size with account, reduce in lot size if in case the account reduce back to previous size.
For my current plan, I need advises whether I should do it this way or not.
  • #56
  • Apr 16, 2016 7:31am Apr 16, 2016 7:31am
Quoting sagor482
{quote} you are 1000% correct and iam now concernteting on my money managemantmanagemantand working in my profitable strategy to make it bettar.
You will know when you have the correct trading strategy for yourself when you will not be elated when your trade makes profit, you will not be angry or frustrated when you make a loss. You will treat each win & loss as only a statistic in your longer term goals.

You must have a clear plan before taking a trade, you know precisely reason for entry, you know what your risk & profit is and then follow that plan.
Taking trades will become a process without emotion. It should become boring.

Money management will only help you to control your risk and preserve your capital, but will only work if you have done the work on your strategy first.
If you have no clear edge then you are simply gambling. Treat this as a business, put in the work.
It never gets easier, you just get better
  • #57
  • Apr 16, 2016 7:43am Apr 16, 2016 7:43am
Quoting vera
1. Money is made by sitting, not trading.
Quoting SmartErisa
no
After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight! It is no trick at all to be right on the market. You always find lots of early bulls in bull markets and early bears in bear markets. I've known many men who were right at exactly the right time, and began buying or selling stocks when prices were at the very level, which should show the greatest profit. And their experience invariably matched mine - that is, they made no real money out of it. Men who can both be right and sit tight are uncommon. I found it one of the hardest things to learn. But it is only after a stock operator has firmly grasped this that he can make big money.
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Quoting vera
7. Dont focus on making money, focus on protecting what you have
Quoting SmartErisa
no
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  • #58
  • Edited 7:58am Apr 16, 2016 7:45am | Edited 7:58am
Quoting Cobra
{quote} ​Looking at your join date here on the factory it makes sense why you are not winning your trades. Nobody starts yesterday and are successful today. NOBODY. You are at a typical fx crossroad where you cannot see the light. It feels as if the market,brokers and other roleplayers are out to get you. Frustration is your disease. The sad part is that you are sabotaging your mind and spirit to the extend that your road to success will be longer and more painfull than others. Your subconcious mind is working completly against you because...
On the contrary, I have seen the light..
For instance:
Heaps and heaps of "forex cannon fodder" is needed to feed the industry.
How does one make this particular cannon fodder ? with good marketing and the spread of rumors and misinformation!
Forex is not a Zero Sum game, it's a Less-than-Zero-Sum game; the cannon fodder gets spent and more must be made.
A forex brokerage is obcenely profitable; but, where are the customers' yachts ?

Would you like to know more about where the rubber meets the road ? Or, perhaps you already know how this game is really played.
  • #59
  • Edited 8:18am Apr 16, 2016 7:48am | Edited 8:18am
I'll give you a hint for this week. I thing EURGBP will fall at least 80 pips . This pair will play in range till June. GBP - fear of Brexit. EURO - crisis , refugees, terrorist attacks and fear of Brexit.
P. S. - Everyone who will do this deal i expect to grab me a coffee at the end of the week or sooner
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  • #60
  • Apr 16, 2016 8:19am Apr 16, 2016 8:19am
Quoting Mingary
{quote} On the contrary, I have seen the light.. For instance: Heaps and heaps of "forex cannon fodder" is needed to feed the industry. How does one make this particular cannon fodder ? with good marketing and the spread of rumors and misinformation! Forex is not a Zero Sum game, it's a Less-than-Zero-Sum game; the cannon fodder gets spent and more must be made. A forex brokerage is obcenely profitable; but, where are the customers' yachts ? Would you like to know more about where the rubber meets the road ? Or, perhaps you already know how this...
Please enlighten us on your purpose of still posting here then ... I really do not get it!
Fix up, trade sharp ...
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