Should I just quit and forget everything or keep fighting? | Forex Factory

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Should I just quit and forget everything or keep fighting?

  • #1
  • First Post: Edited 12:02pm May 20, 2016 10:22am | Edited 12:02pm
Hello everyone. I'm a student, 23 this year and i have been trading Forex since 13th of January 2015. On 20th of May 2015, which was 1 year ago today, i made an aproximately 40,000 USD profit with just 100$ capital. that was a huge win in my life ever. Due to over exciting, i loss it all back quickly just less than one month, my heart was very very pain and i can't believe that i loss it all back in just less than 1 month.

After those day, i was just keep depositing 50usd / 70 usd/ 100 usd trying to make a comeback but unfortunately the conclusion i get is "lose" . Then On October, i tried to deposited 300 usd which the money was won from Casino. And i was fortunately made it to 20K USD but on the next week i loss it all back.

Last two days i made from 20 usd till 1.7k profiting, i was shorting USD/JPY with a tight stop loss.. and FOMC news swept all my equity in just few seconds.. ( because trading news with tight stop-loss wont work)

to shorten the story... i have made 4 times more than 10k usd (May, October, 2 times in December 2015 with just average or less than 300 usd capital...)
until today i still cant accept the truth... so anyone could give me an advice whether i should quit forex or keep fighting in the forex market?

sorry for the poor grammar, i need some advice... Any suggestions and criticism are welcome.
  • #2
  • May 20, 2016 11:46am May 20, 2016 11:46am
if you're thinking of giving up, probably you should've started...
$ 100 up to $ 40,000 or even $ 10,000 is realy something

try this, if you have a system and those are not just random profits... open an 100$ accont when you get to 10.000$ stop traing that accont and open a new one with the profits from the first.... and repeat the process....

10.000$ / 100$ = 100 times you can try to make another 10.000$







green pips
RubVil
  • #3
  • May 20, 2016 12:15pm May 20, 2016 12:15pm
Quoting RubVil
if you're thinking of giving up, probably you should've started... $ 100 up to $ 40,000 or even $ 10,000 is realy something try this, if you have a system and those are not just random profits... open an 100$ accont when you get to 10.000$ stop traing that accont and open a new one with the profits from the first.... and repeat the process.... 10.000$ / 100$ = 100 times you can try to make another 10.000$ green pips RubVil
Good advice mate.
When the going gets tough , the tough get going
  • #4
  • May 20, 2016 1:22pm May 20, 2016 1:22pm
Hi,

Sounds like high leverage, over trading and poor money/risk management. If you are going to make it, you are going to have accept the truth or there is no way forward for you. .

If you would like to talk and have some advice, you can contact me on skype - oneworldtrader20.

MT


Quoting donkeyg
Hello everyone. I'm a student, 23 this year and i have been trading Forex since 13th of January 2015. On 20th of May 2015, which was 1 year ago today, i made an aproximately 40,000 USD profit with just 100$ capital. that was a huge win in my life ever. Due to over exciting, i loss it all back quickly just less than one month, my heart was very very pain and i can't believe that i loss it all back in just less than 1 month. After those day, i was just keep depositing 50usd / 70 usd/ 100 usd trying to make a comeback but unfortunately the conclusion...
  • #5
  • May 20, 2016 2:39pm May 20, 2016 2:39pm
Quoting donkeyg
Hello everyone. I'm a student, 23 this year and i have been trading Forex since 13th of January 2015. On 20th of May 2015, which was 1 year ago today, i made an aproximately 40,000 USD profit with just 100$ capital. that was a huge win in my life ever. Due to over exciting, i loss it all back quickly just less than one month, my heart was very very pain and i can't believe that i loss it all back in just less than 1 month. After those day, i was just keep depositing 50usd / 70 usd/ 100 usd trying to make a comeback but unfortunately the conclusion...
From 100 $ to 40k$? Wow, that was amazing. You had so much luck I think It looks like you have high leverage account and.. in my opinion you should give up for some time, I dont say forever you should rest and then think about come back btw. it is always better to have higher equity (something like 10k$) to trade, if you have good strategy, money management etc. you can survive many drawdowns and easily increase your capital.

Best regards!
  • #6
  • May 20, 2016 6:09pm May 20, 2016 6:09pm
The market didn't move 20th May $/Y and E/$ moved under 100 pips.

So lets say you can put on $4 with $100 ie 25 against and you are out...that means 10,000 pips....that is some compounding!!!!!!

If you are going to come out with shit like this at least say you did it on the 24th Aug
The greatest enemy of a good plan is the dream of a perfect plan.
  • #7
  • May 20, 2016 6:19pm May 20, 2016 6:19pm
​You need to withdraw weekly. I was in the same boat. I start with a 1k account every week. Whatever I can turn it in to I will withdraw weekly no matter what. This little advice will save you. Obviously you have a solid system to be able to make that much money. Stick with it and create rules for your self. Do not overtrade and trade when the market is moving. Do no get too greedy. When I first started I would go for 100-200 pips. Now, I take 20 pips here, 15 pips there, 40 pips here and making about 600 pips a month. Good luck
trading on demo is not trading
  • #8
  • May 21, 2016 5:09am May 21, 2016 5:09am
You sound like a typical 23 year old to me, which is why very few people of your age make good traders. You've obviously got the know-how to take money out of the market and the balls to put on a trade, but you haven't got the discipline, experience and self-control to keep what you've won. Acquire these three things and you'll do just fine.
  • #9
  • May 21, 2016 5:14am May 21, 2016 5:14am
Quoting donkeyg
Hello everyone. I'm a student, 23 this year and i have been trading Forex since 13th of January 2015. On 20th of May 2015, which was 1 year ago today, i made an aproximately 40,000 USD profit with just 100$ capital. that was a huge win in my life ever. Due to over exciting, i loss it all back quickly just less than one month, my heart was very very pain and i can't believe that i loss it all back in just less than 1 month. After those day, i was just keep depositing 50usd / 70 usd/ 100 usd trying to make a comeback but unfortunately the conclusion...
the reason you make $100 to $40k and $300 to $20k $20 to $1.7 is the same reason you loose them.cuz your trading system is this.if you rule it to not lose at the end one day then you will not make that profit due to plan you created.so dont feel bad.you lose the money you should have been never win.clear?
  • #10
  • May 21, 2016 5:28am May 21, 2016 5:28am
Another:
'' I am 17 years old ,I am lovely and I shagg beautiful girls , I make 50.000 dollars with 50 usd deposit in 1 month, what do you say'' thread.
  • #11
  • May 21, 2016 6:51am May 21, 2016 6:51am
Quoting cat
You sound like a typical 23 year old to me, which is why very few people of your age make good traders. You've obviously got the know-how to take money out of the market and the balls to put on a trade, but you haven't got the discipline, experience and self-control to keep what you've won. Acquire these three things and you'll do just fine.
unfortunately discipline, experience and self-control is the hardest

to donkeyg you have a good start why quit now
In the end its just a stupid numbers game
  • #12
  • May 21, 2016 7:02am May 21, 2016 7:02am
"Winners are not people who never fail , but people who never quit"

Imo you should not quit. I have a similar story , and when i started i made 60,000$ and then lost ALL in just one day. I started thinking i had just luck , but then learned the problem was not my strategies but lack of Position Sizing , and money management. If you search about position sizing i think you will like it and not quit. Because you probaly went to your original deposits because lack of lot management.
  • #13
  • Edited 7:16am May 21, 2016 7:04am | Edited 7:16am
Quoting RubVil
if you're thinking of giving up, probably you should've started... $ 100 up to $ 40,000 or even $ 10,000 is realy something try this, if you have a system and those are not just random profits... open an 100$ accont when you get to 10.000$ stop traing that accont and open a new one with the profits from the first.... and repeat the process.... 10.000$ / 100$ = 100 times you can try to make another 10.000$ green pips RubVil
Thanks for the advice. will try to do it .. but what i needed is to learn "Patience"

Quoting mytrader1961
Hi, Sounds like high leverage, over trading and poor money/risk management. If you are going to make it, you are going to have accept the truth or there is no way forward for you. . If you would like to talk and have some advice, you can contact me on skype - oneworldtrader20. MT {quote}
thx for the advice mate!

Quoting kuleszainves
{quote} From 100 $ to 40k$? Wow, that was amazing. You had so much luck I think It looks like you have high leverage account and.. in my opinion you should give up for some time, I dont say forever you should rest and then think about come back btw. it is always better to have higher equity (something like 10k$) to trade, if you have good strategy, money management etc. you can survive many drawdowns and easily increase your capital. Best regards!
Yes that's what i've made promise for myself once i win a 30k USD, i will withdraw and deposit 5k or 10k USD to trade again. use the rest 20k usd to enjoy my life!

Quoting enzo2325
​You need to withdraw weekly. I was in the same boat. I start with a 1k account every week. Whatever I can turn it in to I will withdraw weekly no matter what. This little advice will save you. Obviously you have a solid system to be able to make that much money. Stick with it and create rules for your self. Do not overtrade and trade when the market is moving. Do no get too greedy. When I first started I would go for 100-200 pips. Now, I take 20 pips here, 15 pips there, 40 pips here and making about 600 pips a month. Good luck
Yeah I always wanted to get at least 80-150 pips always in a single trade, but u know some pairs wont just let us earn 100 pips easily..... thanks for the advice mate..

Quoting cat
You sound like a typical 23 year old to me, which is why very few people of your age make good traders. You've obviously got the know-how to take money out of the market and the balls to put on a trade, but you haven't got the discipline, experience and self-control to keep what you've won. Acquire these three things and you'll do just fine.
u make me feel that im not alone. thanks for the advice anyway.
  • #14
  • May 21, 2016 7:12am May 21, 2016 7:12am
Quoting olsen-yersen
Another: '' I am 17 years old ,I am lovely and I shagg beautiful girls , I make 50.000 dollars with 50 usd deposit in 1 month, what do you say'' thread.
at least im not like some crying babies trying to commit suicide right?

Quoting RicardoDS
"Winners are not people who never fail , but people who never quit" Imo you should not quit. I have a similar story , and when i started i made 60,000$ and then lost ALL in just one day. I started thinking i had just luck , but then learned the problem was not my strategies but lack of Position Sizing , and money management. If you search about position sizing i think you will like it and not quit. Because you probaly went to your original deposits because lack of lot management.
thanks for the advice mate.. it took u how long to calm down your mind and make this comeback? 60k is a lot man.. i feel u bruh
  • #15
  • May 21, 2016 7:23am May 21, 2016 7:23am
Quoting RicardoDS
{quote} thanks for the advice mate.. it took u how long to calm down your mind and make this comeback?
Not to much time. Because Position Sizing is an exact thing , you just need to look for your average Risk-Reward and find a % of risk per trade that fits you. You will see this wil remove a lot of stress from your trades and the ability of taking a 10 pips stop loss trade and a 100 pips stop loss trade risking exactly the same amount of %. You will start forgeting about the pips , because with position sizing you can be pips negative and still make money. Search about it , i am sure you will have a great trading year after you take this in consideration mate
  • #16
  • May 21, 2016 7:31am May 21, 2016 7:31am
Money management and position sizing is everything in trading. Your entry is less important than your SL and TP.
  • #17
  • May 21, 2016 7:47am May 21, 2016 7:47am
If this Thread is truth then OP is a very Lucky Gambler, and hasnt learnt to use that to his advantage.
I am what Many Dream to be but only a few can achieve, im a part of the 1%
  • #18
  • May 21, 2016 7:52am May 21, 2016 7:52am
Quoting Soros
If this Thread is truth then OP is a very Lucky Gambler, and hasnt learnt to use that to his advantage.
Yes this is real. i guess a lot of traders have the same experienced this kind of issue before.. the reason i share out my experience is because sometimes i felt myself is so useless... i need some motivation or advise or also some criticism to push me....

the pains, the struggles, the loneliness always bring me down..
  • #19
  • May 21, 2016 8:25am May 21, 2016 8:25am
how did you achieve such success, what was ur Money management? were you using stop loss?
I am what Many Dream to be but only a few can achieve, im a part of the 1%
  • #20
  • May 21, 2016 8:36am May 21, 2016 8:36am
Quoting Soros
how did you achieve such success, what was ur Money management? were you using stop loss?
I didn't success... if i have succeed i would be enjoying my life right now and wont vent at here.. i loss back all the money back to forex, and some in casino. yes i do use stop loss.
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