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Frustration in Forex

  • #21
  • Jun 3, 2017 11:14am Jun 3, 2017 11:14am
Quoting RondaRousey
{quote} what garbage. how bad are you?
If it's garbage to you, then leave it. End of discussion.
This is not investment/trading advise. Will not hold accountable for loss
  • #22
  • Jun 3, 2017 1:44pm Jun 3, 2017 1:44pm
Quoting SweetPrinces
Some trader suffer frustration when the price is always opposite from their orders. If entered, buy price quoted is heading to the bottom. It they entered the sell price goes up. I think this is due to lack of experience and knowledge in the business. What do you think?
Usually the negative feelings and emotions are stronger and has more energy than your positive ones. I would suggest keeping track on trades that goes against you and for you. I bet you will find that it's 50/50, but your emotion and feelings are telling you a different story.
  • #23
  • Jun 4, 2017 5:22am Jun 4, 2017 5:22am
Quoting asistoprof
Deposit the big money on your account and trade small quantities That's can minimized your frustration
There is nothing which is able to reduce your frustration until make sure a trading discipline as well controlling emotions.
We traders feel frustrated when we lose,

and only due to lacking trading discipline and because of emotions we always fall a great loss.
  • #24
  • Jun 4, 2017 11:27am Jun 4, 2017 11:27am
Forget trading and get a job - guaranteed income from day one !
every Saint has a past. Every Sinner has a Future
  • #25
  • Jun 4, 2017 2:18pm Jun 4, 2017 2:18pm
Quoting cat
{quote} I've copied a post I made on my Trader's Academy thread which I think answers your question. Do not make the mistake of thinking that you will master this business in months, a year, or even several years, because for most people it takes quite a lot longer. If you want it badly enough, and are prepared to put the work in for however long it takes, then the rewards will be there for you sooner or later. " That's a well known cliche which grossly oversimplifies the nature not just of trading, but of life itself. No one person begins a career...
Every new trader should have this printed out and read first thing off the bed everyday..@cat u couldn't have said it any better..
  • #26
  • Jun 5, 2017 7:10am Jun 5, 2017 7:10am
Everything is uncertain in Forex market, so the newcomers always feel frustrated when trading. So before kickoff live account we have to make sure sufficient trading balance that can remove our frustration , otherwise it will be great difficult to survive in this volatile trading market.
  • #27
  • Jun 5, 2017 11:22am Jun 5, 2017 11:22am
Quoting BenDunk
Everything is uncertain in Forex market, so the newcomers always feel frustrated when trading. So before kickoff live account we have to make sure sufficient trading balance that can remove our frustration , otherwise it will be great difficult to survive in this volatile trading market.
Your point of view is valid, but I wish to offer an alternative perspective. Small losses in a large trading account sting less than large losses in a small account, but otherwise a large account is not going to make a better trader. Also, new traders sometimes get a Lottery mentality and can get impulses to bet everything on one trade (a very bad idea). Blowing a large account balance can be devastating.

Here's how I suggest a beginner learn trading:

  1. Demo trade, just long enough to learn the basics.
  2. Real account, $100 balance, trade tiny lot sizes.
  3. Real account, $250 balance, moderate lot sizes.
  4. Real account, $500 to $1000 balance, full lot sizes.
  5. Fully capitalized account, if you plan on trading a substantially larger account. Full lot sizes.
  6. Making trading your primary source of income (quitting the day job).

Progress to the next level when you have mastered the one you are on. If you hit a brick wall one one level and can't seem to make any headway, drop back to the previous one. You will probably find steps 3 and 4 the hardest to master. How long will it take? Occasionally some get lucky and get profitable in as little as three months (though there still remains a big gap between being able to show profits and being able to bet your family's financial security on your trading skills). Typically it will take several years, depending on how many hours per day one puts in.

Why shouldn't you demo trade until you have it all figured out? Or jump from demo trading to a fully capitalized account? Because demo trading removes all experience of risk from your trades. The hardest part of trading isn't selecting good entries and exits, it is dealing with the gut-wrenching effects of having real money at risk. What I've laid out here is a gradual approach to getting over that. A second reason for not getting stuck in demo trading is it will tend to breed bad habits, things you would not do with a real money account.

The other reason for starting with small account balances is you are probably going to blow out several accounts while doing this and so they might as well be small balances rather than large ones. I don't wish to be a prophet of doom, I'm just saying that this is the way the learning process goes for most beginning traders, so you might as well prepare for it.

There are two extremes that will slow your progress or stop it:

  1. Be insufficiently cautious, take excessive risks too soon and lose a lot. Many beginning traders make this error.
  2. Be far too cautious. Someone who has taken excessive risks and paid for it can overcompensate and become overly cautious.

Somewhere between these extremes is the path that will get you there without too much pain or excessive delay.

Sure I have a trading plan. Buy low. Sell high. What's yours?
  • #28
  • Jun 5, 2017 11:41am Jun 5, 2017 11:41am
Quoting yousername
{quote} First we have to identify expansion and contraction. It is best to identify the expansion after we have a prolong contraction. Once we have identify that prolong contraction, expect a breakout. Let it expand until we see a short contraction (this must be short). Expect to see a bullish convergence or bullish hidden divergence. Long after you identify it. And it is best to place the long after it breaks the high or above of that expansion's high. When you see the screenshot, you already have 3 trades open. If you trade with finding tops and...
Cool, thanks.

Yes, that is a very good entry method. To explain this a bit for the newer traders, a lengthy period when price stays in a narrow range often means that prices will start trending upon breaking out from that range. The longer that prices are rangebound, the larger the resulting trend, generally.

I'm familiar with that method of using the convergence and divergence of Bollinger bands. I used that for trading TBonds about 15 years ago, but I used it as an outright entry signal not a trend continuation signal. I also experimented with an EA built on that principle.
Sure I have a trading plan. Buy low. Sell high. What's yours?
  • #29
  • Jun 5, 2017 11:43am Jun 5, 2017 11:43am
Quoting Trainman
{quote} Cool, thanks. Yes, that is a very good entry method. To explain this a bit for the newer traders, a lengthy period when price stays in a narrow range often means that prices will start trending upon breaking out from that range. The longer that prices are rangebound, the larger the resulting trend, generally. I'm familiar with that method of using the convergence and divergence of Bollinger bands. I used that for trading TBonds about 15 years ago, but I used it as an outright entry signal not a trend continuation signal. I also experimented...
Sounds interesting with your experiment. Will the outcome be shared in FF?
This is not investment/trading advise. Will not hold accountable for loss
  • #30
  • Jun 5, 2017 12:02pm Jun 5, 2017 12:02pm
Quoting SweetPrinces
Some trader suffer frustration when the price is always opposite from their orders. If entered, buy price quoted is heading to the bottom. It they entered the sell price goes up. I think this is due to lack of experience and knowledge in the business. What do you think?
You need to learn about volume
Volume spread analysis and Wyckoff is a good place to start
  • #31
  • Jun 5, 2017 12:40pm Jun 5, 2017 12:40pm
Quoting SweetPrinces
Some trader suffer frustration when the price is always opposite from their orders. If entered, buy price quoted is heading to the bottom. It they entered the sell price goes up. I think this is due to lack of experience and knowledge in the business. What do you think?
With time, you shall gain experience, with Experience you shall gain Knowledge and with Knowledge you shall become a better trader BUT the one thing that separates A wise trader from the herd is the ability to "CONTROL YOUR EMOTIONS"..

If you can't control your emotions, whether it's Greed, Fear, Anger, Unrealistic Expectation or FRUSTRATION for that matter then you certainly put yourself under pressure and trading under pressure is nothing but suicide.

When you trade there are no markets, there are no buyers, there are No sellers. It's just YOU AND YOUR MINDSET. If you can master your mindset you can master your trading skills.

Just my personal approach towards trading, Cheersss
Losers Hope, Winners Believe
  • #32
  • Jun 5, 2017 12:49pm Jun 5, 2017 12:49pm
Quoting turnip15
Forget trading and get a job - guaranteed income from day one !


nothing is guaranteed, not even death if you believe in reincarnation


so.. get a job and don't foret trading! there's always something better out there to be discovered.. keep searching and have fun
  • #33
  • Jun 5, 2017 1:39pm Jun 5, 2017 1:39pm
money management is the only way to reduce frustration over trading etc trading for income is suicidal in fist few years as newbie trader's don't understand the dynamics of market if anyone trades more than 0.02 on $1000 account he/she is most likely to enter 90/90/90 i.e 90% of retail traders loose 90% of their money within 90 days.
avoiding 90/90/90 is not easy the internet is full of technical analysis studies but there is hardly any material on studying fundamentals one should try and learn fundamentals because market is 80% fundamental and 20% technical.
All of the big trading firms banks, hedge funds etc have fundamental analysis first after that the idea generated through fundamental analysis goes through their technical analysis parameters which upon passing through sentimental filter is converted into a trade.
retail traders need to design a frame work of fundamental-> technical -> sentimental
  • #34
  • Jun 6, 2017 5:34am Jun 6, 2017 5:34am
Quoting garryv
money management is the only way to reduce frustration over trading etc trading for income is suicidal in fist few years as newbie trader's don't understand the dynamics of market if anyone trades more than 0.02 on $1000 account he/she is most likely to enter 90/90/90 i.e 90% of retail traders loose 90% of their money within 90 days. avoiding 90/90/90 is not easy the internet is full of technical analysis studies but there is hardly any material on studying fundamentals one should try and learn fundamentals because market is 80% fundamental and...
hey did u took anton kreil course?
  • #35
  • Jun 6, 2017 6:49am Jun 6, 2017 6:49am
Quoting vladutz112
{quote} hey did u took anton kreil course?
yes i did take up his course
  • #36
  • Jun 6, 2017 3:51pm Jun 6, 2017 3:51pm
Quoting yousername
{quote} Sounds interesting with your experiment. Will the outcome be shared in FF?
I would if I could, but it's not in the cards. I did the work in Tradestation a while back and have not maintained my software license.
Sure I have a trading plan. Buy low. Sell high. What's yours?
  • #37
  • Jun 6, 2017 3:54pm Jun 6, 2017 3:54pm
Quoting Shiv999
{quote} With time, you shall gain experience, with Experience you shall gain Knowledge and with Knowledge you shall become a better trader BUT the one thing that separates A wise trader from the herd is the ability to "CONTROL YOUR EMOTIONS".. If you can't control your emotions, whether it's Greed, Fear, Anger, Unrealistic Expectation or FRUSTRATION for that matter then you certainly put yourself under pressure and trading under pressure is nothing but suicide. When you trade there are no markets, there are no buyers, there are No sellers. It's...
So so true.
Sure I have a trading plan. Buy low. Sell high. What's yours?
  • #38
  • Jun 7, 2017 1:55am Jun 7, 2017 1:55am
Generally, novice traders always expect 100% success ratio! But expert traders are familiar with reality of Forex! After facing a SL, they try to learn from their trading mistakes when low skilled Forex traders lose their trading interest, they believe in revenge trading! That’s the different between expert and low skilled trader!
  • #39
  • Jun 7, 2017 6:16am Jun 7, 2017 6:16am
Quoting JeffreyTA
I guess every trader has to go through the frustration. Trading IS difficult. The frustration comes from the lack of experience. I remember having to trade daily for 6 months before getting used to the frustration of having a position go against you. The important thing is to develop a strategy. If you can't backtest & forward test your strategy, it is unlikely that you can overcome this frustration. @Sweetprinces I suggest you read a trade setup book like Al Brooks - Reading Price Charts Bar By Bar. This gives some very basic setups that you can...
Yes, I think frustration must be avoided in order not to encounter loss. Having a good trading experience and strategy can be a big help in our future trades.
Thank you for your suggestion. I will read the book
Sweet Princess, ForexMart
  • #40
  • Jun 7, 2017 10:27pm Jun 7, 2017 10:27pm
Forex Trading is very risky and people get frustrated when they lose a lot in it, thus we need to understand that if you wanna become successful, you need to have control over such emotions.
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