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I plan to quit forex!

  • #961
  • Edited 1:12am Apr 12, 2016 12:25am | Edited 1:12am
Quoting AlansGS777
It happens even in the best of families: https://en.wikipedia.org/wiki/List_of_trading_losses
The hall of fame.
My dream is to be on that list.
To lose a bank's billions is a hero's journey.
  • #962
  • Apr 13, 2016 8:26am Apr 13, 2016 8:26am
When we expect more than our trading skill or take high risk it certainly create a loss . Hedging is profitable when you are doing it properly with good analysis and right decisions. Without planning trader will loose a lot in spite of getting from his account may be h decide to quit trading after this bad experience.
  • #963
  • Apr 13, 2016 10:53am Apr 13, 2016 10:53am
Quoting Supertrader9
As for your trading, open a demo account.
Agreed.

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 think many people who get in trading want to make much money fast, they do not have patience, they do not want to wait, they feel desperate after a loss, try to "recover", and ultimately lose everything.

I think trading is like driving on a precipice, if you are not cautious and do not look carefully your way and don't drive responsibly then you may escape alive from a curve or two but you will ultimately fall at some point. You have to learn how to drive first.

And do not start with a real account, prove yourself on demo first (preferably for a LONG period). Otherwise, you will just lose money and your time.

Just my opinion.
  • #964
  • Apr 13, 2016 2:27pm Apr 13, 2016 2:27pm
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
Hey fxstaton, Forex is profitable if you know what you are doing. The best way to trade forex is to trade it purely naked and void of indicators or systems. This is the only way you can be profitable trading forex. I have seen a trader who can tell what the next forex market moves would be without the aid of indicators or systems. He basically trade the Daily Market Circles and Patterns. You may watch this video to grasp a bit of what i mean on youtube
Inserted Video
  • #965
  • Apr 19, 2016 7:48am Apr 19, 2016 7:48am
Quoting shireenk57
Just open and learn about one currencies pair GBP/USD first, and open only two charts on Meta 4 = one 15 M chart and one 1 hr chart, confirm from 1 hr chart whether to buy or sell than look 15 M chart and place a order of any side which you think is best for you, forex is like driving a car (I think whole life is like driving your car) , as when you are on driving seat , you know where to turn right, left or break or back your car, no one can tell you from his car now turn right, left or break or back.
Do you have a live account? you may want to connect to the trade explorer so every one will really know how good your experties are. Thanks
Drawdown is more important than Account Size !
  • #966
  • Apr 19, 2016 7:53am Apr 19, 2016 7:53am
Quoting Mingary
The hall of fame. My dream is to be on that list. To lose a bank's billions is a hero's journey.
Then you can write a book, appear on TV and tour the world speaking about what you learned, like Jerome Kerviel.

Of course, while being paid for it
  • #967
  • Apr 19, 2016 7:55am Apr 19, 2016 7:55am
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
yes i am agree...forex is full manipulative....99% trader is losser and bankrupt.....it is only broker, mafia, bigboys will be succesfully.
  • #968
  • Apr 26, 2016 11:41pm Apr 26, 2016 11:41pm
After watching this video about brokers' manipulations, I have no doubt why so many traders quit this "rigged" game:

Inserted Video
  • #969
  • Apr 27, 2016 12:22am Apr 27, 2016 12:22am
Quoting MasterGuru
After watching this video about brokers' manipulations, I have no doubt why so many traders quit this "rigged" game: https://youtu.be/v2Ow8nPQ7Qs
dont know how true, but

http://4xtrader.net/4xsentinel/
  • #970
  • Apr 27, 2016 12:50am Apr 27, 2016 12:50am
Quoting Bicarus
{quote} dont know how true, but http://4xtrader.net/4xsentinel/

Oh yes, it is very true! Just visit any Forex Expo. It will be full of vendors selling parasite plug-in software to brokers...

Here you can even buy one online for $4000: http://mtexperts.com/en/plugins/virtual_dealer/

4xSentinel is a decent product. I have used it in the past. BUT: It can only DETECT the crooks, it cannot fix their actions, i.e. rigging the game...
  • #971
  • Apr 27, 2016 1:29am Apr 27, 2016 1:29am
Quoting MasterGuru
{quote} Oh yes, it is very true! Just visit any Forex Expo. It will be full of vendors selling parasite plug-in software to brokers... Here you can even buy one online for $4000: http://mtexperts.com/en/plugins/virtual_dealer/ 4xSentinel is a decent product. I have used it in the past. BUT: It can only DETECT the crooks, it cannot fix their actions, i.e. rigging the game...
i wonder how possible it is to purchase such a plugin and access the servers from client's end lol. fight fire with fire
  • #972
  • Apr 27, 2016 2:33am Apr 27, 2016 2:33am
Quoting Bicarus
{quote} i wonder how possible it is to purchase such a plugin and access the servers from client's end lol. fight fire with fire
If you could access their MT4 Manager panel, you would not have to buy such a plug-in, as practically all of them have it.

These plug-ins are like ATMs for them... Easier than printing money...
  • #973
  • Apr 27, 2016 2:58am Apr 27, 2016 2:58am
I'll quit too Forex, next month all in vacations .
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  • #974
  • Apr 27, 2016 3:25am Apr 27, 2016 3:25am
how long have you joined in forex?
Not many people realise when to quit although they've lost much money. And they think there's still a chance to take back.
Can't say it's smart choice or not
  • #975
  • Apr 27, 2016 3:32am Apr 27, 2016 3:32am
Quoting piupiu
I'll quit too Forex, next month all in vacations . {image}
And paid for by your Forex profits. Correct...?
  • #976
  • Apr 27, 2016 3:44am Apr 27, 2016 3:44am
Quoting MasterGuru
{quote} And paid for by your Forex profits. Correct...?
This is what gives taste, after sweating is always deserved.
  • #977
  • Apr 27, 2016 7:47am Apr 27, 2016 7:47am
Just hang on ... it can be done.
Fix up, trade sharp ...
  • #978
  • Apr 28, 2016 9:44pm Apr 28, 2016 9:44pm
An interesting analytical article about the best live strategies on MyFxBook: "Looking at Forex Retail Champions: The best live trading, verified and long term myFXbook trading account results"
  • #979
  • Apr 28, 2016 9:57pm Apr 28, 2016 9:57pm
This is interesting.

http://financefeeds.com/no-trading-c...-investigates/
  • #980
  • Apr 29, 2016 12:42pm Apr 29, 2016 12:42pm
Quoting MasterGuru
An interesting analytical article about the best live strategies on MyFxBook.
Thanks for the link. Daniel Fernandez' blog is an excellent read.
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