Should I quit trading forex?

Maybe after Friday some will not have a choice to quit FX or not, it would of been made for them

Ronm7d,
Many times you will feel like quitting my friend,it is a part of this battle and I am not saying the path I have taken is for you,I have been trading now for going on 7yrs but I have only been successful for the last 2, many times in those first 5yrs I felt like quitting after losing 7 live accounts and learning many lessons the hard way,there is no easy path through this jungle, and the truth is much reading,a lot of screen time ,a willingness to look inside and change you,practicing and mastering discipline, keeping a fighting spirit and chase your dream like a dog guarding a bone in a pack,YES these all sound like cliche but they are truths that must be walked through.
Can it be done - YES,if your willing to pay the price,the journey is not easy but I can say with great satisfaction today that I am so glad I did not quit,it is worth the fight.Keep in mind that only 5% of traders make it,so you could also say that only 5% of what you read and are told on this site is worthy of reading and listening too,wisdom my friend.
GW

I'm too stupid to understand this lol...why too soon? Does he mean before it drops again?

"too soon" because when it is time to buy the perception will be strongest to the sell side as the media and whatever other influences will push the herd even shorter in order for the "smart money" like Mr Rothschild to buy. Buyers need sellers...

Must be an easy game when you own the media, and the government , the military... And the public

its like to buy low and start selling (too soon) as the sellers takes over, so selling at early stages.

"too soon" because if you own some stock and it's going up and up, the crowd will tell you you are stupid to sell, because they believe the stock is going much much higher.
The crowd is always wrong.
Same idea when you sell short a stock.
BTW, you can see this principle currently developing in the GBP

Thanks, got it now Good advice

and the hidden message is that you can't pick tops well and if you are seasoned and doing ok, you know this already and therefore you stop attempting to pick a top for your exit, but you take your profit when you have it, or at least partially, then even if your remaining position pulls back on you, you are still green on that trade, also some pullbacks happen before the target and you may get stopped out but hopefully also with a profit since you may have advanced your stop to greater than break even, which in all cases, especially to the novice, seems to be, "too soon."

Now is the time you make it or not. Walking away is not shameful at all, you had some bad experience, lost out, it makes sense to consider if this is really for you and if it is worth it. Sensible.

Learning to trade is the hardest thing I've ever done. And it has taken me a long time, I had to sacrifice soooo much.

So, you are at a crossroads. If you want to continue down the trading path, you have to see that you just paid a lot of money for an important lesson. If you are wise enough to learn the lesson, the money is not wasted.

So, what do you have to do? I'm guessing you already know deep down.

1. trade demo
2. keep trying until you find something that works and fits your circumstances. If you are working full time, then you have to work around that.
3. Develop discipline. Absolutely crucial!
4. Be willing to go this long, slow route. In trading you have to be prepared to do what others will not. Using up precious weekends. Developing steel discipline. Being honest with yourself. Learning and knowing what a profitable trade is, and when you are wrong.
5. Forget EAs. Develop SKILL. You are only looking for EAs because you have already said to yourself that you can't do it yourself. This is wrong thinking.

I used to work in IT. IT is a very technical discipline. Maybe you learn microsoft stuff, or linux, or mac. Maybe you want to do coding, or networks - if it's networks, what do you want to learn? Office networks or country networks?

The point is, it takes a lot of learning and patience and practise and sacrifice to learn about something in IT. You KNOW for A FACT that you can't just jump in and know what you are doing. It's complicated. You can't just put together a computer script and 'hope' that it works without KNOWING. Trading is the same. It is a CAREER, not a get rich quick alternative to having a career. So treat it like a new career and you will start over with the correct mindset. If you try to be clever, or take shortcuts or gamble, you will get killed.

So start out again, small step by small step, learning a new CAREER. If you don't want to do that, or it isn't that important to you, go and do something else that makes you happy. No shame, no fear. You do not know unless you try, and I congratulate you for having the balls to try.

For me, I was happy to make the sacrifices (though I did need support from friends and family at the low dark moments) because the payoff is too big - the perfect home business.

Hope this helps. Good luck on your path, whichever you choose.

This is an outstanding reality check by the way. Good job for posting. This is going on my office wall.

Hi ronm7d,

The mere existence of this thread and the question clearly shows you are not mentally fit for trading. Your personality is not good for this job.

Traders don't give a crap what others might think. They are very decisive, original thinker and ready to take serious measures in serious circumstances. They easily pull the trigger and take all the responsibilities afterwards.
If they think they are going the wrong way they change course even if everyone on Earth telling them you are doing good on the other hand if they think they are going the right way they push on even if every human on the planet tells him/her otherwise. They are expert on judging the facts. They are utterly and completely in charge of their choices, life & fate. This type of personality "might" have a chance to be successful here.

You do not know you should quit and others must push you to make decisions?? This type of attitude & persona might work for other professions or areas in life but definitely not for trading.
Please Quit Right Now.

yes,
as trading is not for those who dont have decision making power

Take a long break (1+ years), it worked for me

So are you asking to strangers if you should quit forex. Yes, for sure!

There might be all strangers here, but they could have more knowledge and skills than others, so I don't think that it would be any harmful if you are asking such questions to them. Any person would be first stranger to you, even your closest friend.

Points for trying. But
the BIG problem is:

THE MAP IS NOT THE TERRITORY (:

No, don't quit. I will not really advise you to quit just because you made some losses. Let me assure that forex is really lucrative for experienced traders. But you can't just get successful from the start. Losses are important part of the journey up. I will also recommend you get a demo and learn a strategy well before you move on to live trading.

Make very much sense. Make your own decision as only you will know. Circumstances are different for different people. Some should stick to when continuously experiencing loss, while some shouldn't.

Quit forex or not, is you choice and decision, If one is not happy with his work then he must change the work style or change the work.