Good Bye Forex!!!!!!!!!!!!!! - page 2
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
If you lost your account many times, why are you still trading?
I also loss my money in forex, but i also still trading in forex. But i try to be better from time to time to get more maximal result. I try to learn from my mistake which i already done.
Iv'e traded forex for 15 years and Forex is not what it used to be!!! It's not possible to consistently make money in a market which trends some days/months,
but other days/months has a crappy range of 30-70 pips with the daily and weekly candles both UP DOWN UP DOWN UP DOWN!!!!!!!!!!!! Forget about trying to use support resistance levels, channels, or price action of any kind to try to day trade such tight ranges, it's not consistent long term! Forex is nothing but a manipulated rigged gamble! At the right times you can easily make money, BUT N THE WRONG TIMES (those profits will always get wiped out)! And the worst thing about forex? currency pairs ALL move together meaning when all the pairs go one direction the others do the same thus there is no such thing in forex as trading multiple pairs to spread your risk out.
Crude oil on the other hand ACTUALLY MOVES, and you can make money at since is trends 100-300 ticks many days!
Small cap stocks are also 100 times easier to locate breakout patterns which are about trend way up or down and spread your risk across 10 separate companies which actually ( won't all go against you like trading 10 currency pairs would!
I'f wasted 15 years of my life studying forex only to MAKE MONEY, get false senses of security when the market trends for 6-8 months to then lose it all when it goes flat! The more I research the more I find example of people who have gotten rich trading stocks, vs the very few public figures I can find of any public figures who made it big in forex!
So goodbye forex and hello crude oil and stocks!
“We cannot solve our problems with the same thinking we used when we created them.” Albert Einstein.
You can stay other 40 years in the trading field but if you approach the "problem" from the same perspective, you cannot get a grasp of it.
Forex, stock or whatever. It is not a matter of what you would trade. Also you could not believe me if I say you that choppy markets are a blessing when they are present.
Confused enough?
I can offer you the follow insight: there are secrets and there are no secrets at the same time, just like the life is pleasant and painful at the same time. Just like a great love contain a great latent hatred at the same time.
Where is the secret? The secret is defined in the framework you build when you are building your trading business. Just like every business the secret is to fulfill your life style in a sustainable manner while you trade. This is part of what you have defined. You can call it "trading plan". In this plan there is writted down even when you are allowed going to the bathroom. Can you pursue the task comfortably? Do you have a plan for dealing with black swans and mental pressures when things go wrong? (at a certain point even a market wizard will have his/her difficoult time). What will you do, if at some point the electricity or your modem/vps connection will go down and you didn't put a stop loss on your trades in that exact instant of time? Do you know that you can run your same exact losing strategy in a winner (or at least a breakeven) manner just changing the risk mangement part of the equation? First of all: do you have a strategy at least? What is its own character in the market?
I'm amazed at how much people believe that trading is a different business than running a restaurant. You have credits and debts. Can you find a balance between these, so that you can live in the profit area? Learn to ask yourself the right questions to have the greatest insights from your subconscious while you sleep. Of course not expect to become rich overnight if you want to run a stable business. Running a restaurant, you can't become rich overnight too. Unfortunately people are too conditioned by hollywood movies where Gordon Gekko gains fortunes in a matter of minutes. :-D
Forget all these illusions and start to see if you can gain your specific edge in the sector of "who you want to be in the market". If you want to play around to appear as "the new wall street shark" you need to grow. If you ask to anyone to show his/her own proof that he/she is profitable to convince yourself that it is possible to trade forex profitably, again you need to grow. You are still in the primary school, no matter how many years you have spent so far in trading field. Forget your EGO.
“We cannot solve our problems with the same thinking we used when we created them.” Albert Einstein.
You do realise that you are replying to a 6 year old topic do you?
Please make up your mind what you want to post and post it once instead of editing it over and over again.
It is annoying that your post keeps showing as unread because you keep editing it,
You do realise that you are replying to a 6 year old topic do you?
Please make up your mind what you want to post and post it once instead of editing it over and over again.
It is annoying that your post keeps showing as unread because you keep editing it,
On the desk of Watford: "Another quality of a man of common sense and a good trader: being a perfectionistand wanting to offer to the community quality and error-free insights correcting everything necessary, when necessary and believing that giving is having. No matter if the post have 6 year or 60 year.