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Should I quit trading forex?

  • #41
  • Oct 5, 2016 7:01am Oct 5, 2016 7:01am
Quoting ronm7d
Dear Fellow Trader, I trade forex but a few account got Margin Call and I lost a lot of money( for me it's a lot ). I try few EA and the result also the same lost all the money . So i have a big doubt ,is that trading forex is good for me or not. Should I quit trading forex? Now i'm searching EA that could work 24 hours/day, with not big profit but consistent for long time,but i can't find that suitable. Anyone could give opinion ? thanks all
YES
  • #42
  • Oct 5, 2016 7:15am Oct 5, 2016 7:15am
as i see you are about 41 years old and you are here from 2009 , so you should be a man with good knowledge and experience in many fields , and i think you don't need any advice because its the time for other people to ask advice for their life of you!
i think you are here because you need to hear good and positive sentences for confirmation of continue to working forex and you know better of most of this people the rules and to do or no to do things , so continue what you are dreaming about it
good luck
  • #43
  • Oct 5, 2016 8:11am Oct 5, 2016 8:11am
Hello ronm, here is the answer to your question:
"you can think you can do it, or you can think you cannot do it; in both of the cases you are right." H. Ford

Trading is very simple, but first you have to face with your mind: indeed trading is a game with yourself.
You are witnessing what all traders have witnessed at the begining of their career, nothing more and nothing less.
This is a big brainteaser, the key is simple and right in front of you, but you won't ever see it unless you change the way you think: the mind that brought you to trading is not the mind that will make you a trader.
There is a lot of work to do but it can be a wonderful journey if you are really willing to make it: if you just want to make a lot of money in a short time you'd better go play at casiṇ: money is a result, precisely is tomorrow result of a very well done work today.

Good luck
  • #44
  • Oct 5, 2016 8:26am Oct 5, 2016 8:26am
Hi!

I strongly recommend you to read Anna Coulling's books, you will learn how to read price action combined with volume indicator and how to manage your trading capital accordingly.

EA, Machines and all that won't work for long term. Those may work for a while or in a specific situation, but will fail eventually.

I reccomend you to start with this books:

1st: Forex For Beginners
https://www.amazon.com/Forex-Beginne...=anna+coulling

2nd: A Complete Guide To Volume Price Analysis
https://www.amazon.com/Complete-Guid...=anna+coulling

I don't have much experience with trading, but those books helped me in a way i can't even express. Hopefully will help you too.
  • #45
  • Oct 5, 2016 9:17am Oct 5, 2016 9:17am
If you are not willing to educate yourself, Then yes.
Trading only seems to be easy. But the reality is different.
  • #46
  • Oct 5, 2016 10:20am Oct 5, 2016 10:20am
I would say if you don't know why you are trading and have no goals, you should stop trading for now. Maybe revisit after your head clears because you have lost your confidence.

Profitable trading is very difficult and can be demoralizing when a trade goes against you and grinds you down.
Ecclesiastes 1:9
  • #47
  • Edited Oct 6, 2016 11:12am Oct 5, 2016 12:48pm | Edited Oct 6, 2016 11:12am
passion glass hopperr ... when it show operate it ... if not zippy that centre pocket ....
just ... dont get beat by your own pomm pomm stick .....


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  • #48
  • Oct 5, 2016 1:15pm Oct 5, 2016 1:15pm
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  • #49
  • Edited 2:12pm Oct 5, 2016 1:34pm | Edited 2:12pm
oooopps .... we must include every one .... da classyyy ... same ...s ame but .. difference taste ....


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  • #50
  • Oct 6, 2016 8:39am Oct 6, 2016 8:39am
You got to find a way to get 5 calls right out of 10 calls. If you do that and you got some sort of money management, you will make money. You probably are somewhere at 3 from 10 where you slowly bleed to death.

Nothing else matters.
Good luck in your journey.
Best regards, Zef
  • #51
  • Oct 6, 2016 8:46am Oct 6, 2016 8:46am
Quoting dumobile
Hi! I strongly recommend you to read Anna Coulling's books, you will learn how to read price action combined with volume indicator and how to manage your trading capital accordingly. EA, Machines and all that won't work for long term. Those may work for a while or in a specific situation, but will fail eventually. I reccomend you to start with this books: 1st: Forex For Beginners https://www.amazon.com/Forex-Beginne...=anna+coulling 2nd: A Complete Guide...

i agree too.. i also read book to learn more about trading forex and winning more
  • #52
  • Oct 6, 2016 9:15am Oct 6, 2016 9:15am
definitely quit the way you are doing it, then learn price action and correlations, then make a plan, then trade a micro account with one lot, then test this method until you are consistent, then after weeks of being consistent and having gains of a few bucks, use 2 lots, then see if you can still be consistent and have gains, there's no easy way out, you'll be back, we all come back GL
big money makes big moves and then hides during small money chasing.
  • #53
  • Edited 8:43pm Oct 6, 2016 7:59pm | Edited 8:43pm
1 been fire up the pit ... waitng for those so call dragon ..... by the pounds ......

2 " been seeing " ... some one have the monkey at the back ...... read uneasy ..... unrested ........ after all u show up dude ......

thanks a bunch u are nottin but signifiCunt ..........


NEXT ............ !
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  • #54
  • Edited 9:09pm Oct 6, 2016 8:00pm | Edited 9:09pm
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  • #55
  • Edited Oct 7, 2016 5:05pm Oct 6, 2016 8:16pm | Edited Oct 7, 2016 5:05pm
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  • #56
  • Oct 9, 2016 1:08am Oct 9, 2016 1:08am
Quoting ronm7d
Dear Fellow Trader, I trade forex but a few account got Margin Call and I lost a lot of money( for me it's a lot ). I try few EA and the result also the same lost all the money . So i have a big doubt ,is that trading forex is good for me or not. Should I quit trading forex? Now i'm searching EA that could work 24 hours/day, with not big profit but consistent for long time,but i can't find that suitable. Anyone could give opinion ? thanks all
I experienced losses as well at the beginning, and that was a few years ago. It takes time to learn through experieces but whether you should quit trading, it's a question only you can answer. I don't think an EA will help you at all.
  • #57
  • Oct 9, 2016 1:52am Oct 9, 2016 1:52am
if you keep using EAs you are only going to lose more money. if EAs really works then 95% traders won't be losing money.
Mate, you should forget about EAs and start learning. Don't waste more time and money on EAs.
  • #58
  • Oct 9, 2016 1:55am Oct 9, 2016 1:55am
Quoting ronm7d
Dear Fellow Trader, I trade forex but a few account got Margin Call and I lost a lot of money( for me it's a lot ). I try few EA and the result also the same lost all the money . So i have a big doubt ,is that trading forex is good for me or not. Should I quit trading forex? Now i'm searching EA that could work 24 hours/day, with not big profit but consistent for long time,but i can't find that suitable. Anyone could give opinion ? thanks all
You will make far more money with a real job than you will ever make in the forex.
Not you in particular, ANYONE.
You are not alone, understand where you are. Your are helping your broker and scammers put their kids trough college.
Ask yourself this question. Why do you give them money ?
You willingly go into the forex casino and come out with less money than you came in with, why ?
Trading the forex is a tax on the financially ignorant like playing the lottery is a tax on people who are bad at math.
  • #59
  • Oct 9, 2016 4:29pm Oct 9, 2016 4:29pm
Quoting Mingary
{quote} You will make far more money with a real job than you will ever make in the forex. Not you in particular, ANYONE. You are not alone, understand where you are. Your are helping your broker and scammers put their kids trough college. Ask yourself this question. Why do you give them money ? You willingly go into the forex casino and come out with less money than you came in with, why ? Trading the forex is a tax on the financially ignorant like playing the lottery is a tax on people who are bad at math.
Wise words Mingary -but will he listen and then go and get a real job with a certain salary or will he continue to daydream of trading riches and cherry pick the replies that support his delusions of becoming rich via forex trading or trading of any kind?
every Saint has a past. Every Sinner has a Future
  • #60
  • Oct 9, 2016 6:13pm Oct 9, 2016 6:13pm
all opinions.. all subjective..

people whom are doing well earning large amounts year over year in forex will say NO dont quit. Lots to made.
people whom have failed at earning large amounts year over year in forex will say YES quit. Lots to lose.
Both these type of people are here on these forums, but alot more of the latter..

simple really.. IMHO, its the wrong question and definately wrong place to be asking this question.
Ask yourself and make your own decision.
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