Thinking of giving up trading
One week making $1000 and following week all is gone, I think I'll got back to selling kfc :-), at least my profit share will always be paid unlike forex.
This is usually the case when you start trading forex, all impulse and emotions.
It takes tons of discipline, patience and persistence in order to be on the winner's side in the long term.
This just means that you don't know how to trade correctly. Such a portfolio means that you are more of a gambler than a trader. Trading is a very difficult task that requires huge knowledge in the domain, as well as Risk Management and cool nerves.
In the end, you do what you like and enjoy. If your only purpose is to "Make Money" from a job, then KFC can provide that for you. If you like trading but it's frustrating you, it is too soon to give up. Take the risk, learn it, get better at it, because only then will you really profit from it.
Best Regards
This is usually the case when you start trading forex, all impulse and emotions.
It takes tons of discipline, patience and persistence in order to be on the winner's side in the long term.
This just means that you don't know how to trade correctly. Such a portfolio means that you are more of a gambler than a trader. Trading is a very difficult task that requires huge knowledge in the domain, as well as Risk Management and cool nerves.
In the end, you do what you like and enjoy. If your only purpose is to "Make Money" from a job, then KFC can provide that for you. If you like trading but it's frustrating you, it is too soon to give up. Take the risk, learn it, get better at it, because only then will you really profit from it.
Best Regards
Thanks for the clarity chief.
I know the feeling, I lost R3000 in less than a month, but now I'm back n I'll doing what is supposed to be done, without anyone's help, through reading, learning how to use indicators n always following the news world news...
I know the feeling, I lost R3000 in less than a month, but now I'm back n I'll doing what is supposed to be done, without anyone's help, through reading, learning how to use indicators n always following the news world news...
You started trading with $42..?..that was where all your problems started.
One week making $1000 and following week all is gone, I think I'll got back to selling kfc :-), at least my profit share will always be paid unlike forex.
Forex is not a typical trading like Stock, and mostly using indicators lines just adjusting your own mind, the major problem is direction and if your in right direction another problem is how long you need to hold, but besides all this brokers trap is big leverage.
In Forex two kind of tradings can work short time trading like hit and run for this a little mathematical skill required which I can not discuss here because of forum rules.
or
after seeing financial decisions of countries set your direction and a weekly chart can help in this matter i.e US-China trade war and biggest looser is AUD, and lot of traders thinks effect on USD, so sell direction is possible on AUD for long or carry trade, if you want to verify this direction then go in 10 years history of AUD and you will see AUD trying to climb but failed.
But since trading is an individual decision taking matter so an experience also matter i.e from 15 JAN 2015 with Swiss Frank decision many traders learned a clear Stop Loss is always necessary and anything can happen in any kind of trade.
When every traders loose consistently means their final hope will be Martin, after Martin they exit.You started trading with $42..?..that was where all your problems started.
One week making $1000 and following week all is gone, I think I'll got back to selling kfc :-), at least my profit share will always be paid unlike forex.
It took me a long time to find the right tools, the right timeframe and money management. You've got to watch all of the timeframes to see the overall trend of the market. You've got to use some tools that let you know when the market is near the end of it's trading range up or dowm, and this is different for each timeframe. There's A LOT TO LEARN. I've been where you are. I'll make a lot of money one week and then WHEN THE TREND CHANGES, I don't stop trading in the direction that I was making money in and so I wind up losing it all back. Keep charts of all of the timeframes from 1M to 1D so that you can see how they all work together. For me It's better to trade on the outer fringes of the market, and by that I mean OVERBOUGHT and OVERSOLD. If you're jumping in somewhere in the middle there a much better chance that you're gonna get stopped out. Open a demo account and test some indicators until you find some that ARE CONSISTENT for your trading style...they can't work in one situation but not work in the next. They have to be consistent. Demo trade for at least a month until you prove your strategy CONSISTENTLY. Don't give up.
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One week making $1000 and following week all is gone, I think I'll got back to selling kfc :-), at least my profit share will always be paid unlike forex.