Frustrated!!

[Pukey]

Originally Posted by clayboy

I totally agree. I don't think anyone here is actually making any real money. I'm still trying but it just appears that all we do is bounce ideas off of each other, try this, try that do this, do that, but that's it. It's rare that someone says I've done this, I've made this, I've grown my account by this, etc. On the rare occasion that someone does say something like "I make 100 pips per day" they start a thread, post for a little while then disappear. The thread might continue but the original started of the thread is gone. As if they're now embarrassed because the system wasn't as profitable as they originally thought. Then we're back to a thread of people just bouncing ideas off each other. Then when I ask if anyone is keeping and log and tracking their progress - no one responds. As if no one is making any money off whatever system is being discussed.

I'll leave and come back to these forums every couple of months looking for the same confirmation that I'm not just wasting my time, and I can never find it. Just people sharing ideas but no real solid proof that these ideas are working for anyone. If I'm actually successful at this one day, I promise to share the proof of my success to inspire the rest. After all this is all I'm looking for right now. Not a hand out just some solid evidence that this is possible.

sorry for the rant

-clayboy

This is the exact reason I started this thread! I have experienced your entire post! There are members here that have been here forever that finally divulge their income and it's not enough to pay my Netflix bill!

[MattW2009]

Part of the problem is that truly successful people are unwilling to reveal their income for a variety of reasons, such as confidentiality, concerns over giving away personal financial information, risk of being called fake, accusations of bragging etc. etc.

I think the truth of the matter is that although 5% make it, they only make it in a just-about-breakeven sense and that really less than 1% actually make it big time in this business.

For all those people who keep repeating the mantra 'Forex is easy...', even those who follow it with '...but only if you have good MM' are frankly I think they are talking rubbish. Forex is not easy. It takes years of practice, hundreds of hours of learning, and many many losing trades just to make it into the 5% bracket.

The only way to succeed in this business is perseverance. Sure of course you need a good strategy and MM but applying those will only come with time. And lots of losses.

[profitforextrader]

Originally Posted by Pukey

This is the exact reason I started this thread! I have experienced your entire post! There are members here that have been here forever that finally divulge their income and it's not enough to pay my Netflix bill!

ok then let me be one of the first to divulge my true forex income, i have been trading on and off playing with forex for about 2 years in which time i suffered many losses and 3 wiped account equating to about £2k

this year my son was born on the 15th of february, there were complications which resulted in both my fiance and son being in hospital just over a month, obviously wanting to be with them i took much time off of work and lost my job which wasn't that great anyway

late february i began trading with £400, i began making around 10-20% a week risking no more than 2-5% on any 1 trade, 7 months or so down the line i now have an account balance of just over £11k which allows me to make profits of £1k+ per week as of early this month

to begin with as you can imagine my profits were very small but now after many months of hard work i am seeing some substantial gains, still not quite rolling in it yet but from past performance i can begin to forecast my earnings in the future which will eventually be very significant sums of money

it has taken about 2 years, 3 blown accounts costing me about £2k ( i just consider this training costs ) but i believe i am finally there

if you have the patience, determination and perserverance to endure what i have over the last 2 years then you too will make it eventually, trouble is most quit within their first 6months or after their first blown account

i hope i've given a little spark of hope to some whilst still maintaining realistic expectations

lee

[clayboy]

Originally Posted by profitforextrader

ok then let me be one of the first to divulge my true forex income, i have been trading on and off playing with forex for about 2 years in which time i suffered many losses and 3 wiped account equating to about £2k

this year my son was born on the 15th of february, there were complications which resulted in both my fiance and son being in hospital just over a month, obviously wanting to be with them i took much time off of work and lost my job which wasn't that great anyway

late february i began trading with £400, i began making around 10-20% a week risking no more than 2-5% on any 1 trade, 7 months or so down the line i now have an account balance of just over £11k which allows me to make profits of £1k+ per week as of early this month

to begin with as you can imagine my profits were very small but now after many months of hard work i am seeing some substantial gains, still not quite rolling in it yet but from past performance i can begin to forecast my earnings in the future which will eventually be very significant sums of money

it has taken about 2 years, 3 blown accounts costing me about £2k ( i just consider this training costs ) but i believe i am finally there

if you have the patience, determination and perserverance to endure what i have over the last 2 years then you too will make it eventually, trouble is most quit within their first 6months or after their first blown account

i hope i've given a little spark of hope to some whilst still maintaining realistic expectations

lee

Thanks for sharing. This is the kind of stuff I like to hear. I don't even care what system you're using - there are many systems to choose from. That's not what's important to me at this stage. Like I said, I just want to know that this is possible.

[ahgong]

Originally Posted by Pukey

This is the exact reason I started this thread! I have experienced your entire post! There are members here that have been here forever that finally divulge their income and it's not enough to pay my Netflix bill!

Well, I do make a little money off forex. The amount I am playing is still small as I am building my funds to something more sizable to see better profits.
But it is not impossible to make money off FOREX.
It is not easy. But not impossible.

Just check out my discussion on my strategy set up. I have posted some proof there to show that with the correct set up, you can minimize the risk of losing money.

In fact, I just locked in 161 pips with the announcement of the NFP!

[Jang]

Hi all,

I think this is my first post here but I've been around for almost 2 years but never had something to say.

First of all I feel the same as the person who started this thread, I've been going up and down with good earnings and bad looses, I went from test account to live account and back to test account.

I've found crappy system, decent systems and very good systems, I've tried them all. At the end I figure that no system is BAD, the problem is the trader, basically a system that is good for somebody is not necessary good for another person, because we have different minds and different interpretations.

I was trading mainly with the CWB system, but it was not profitable for me, even if it's doing pretty good for some other people (or at least they claim that it is good), the style that it uses don't suit with my style so that's why I decided to take different Ideas and develop my own system.

For now it was working really good for me, not giving huge amount of PIPs but the earning were decent and constant (test account), unfortunately, I decided to go live last monday, but since the market was un-stable, I ended with 2 bad trades which took me back to test account so I can see what's wrong.

After all this talking, basically what I think is that:

1. Not all the systems are for everybody.

2. A lot of people think that being a TRADER means reading babypips.com's school and going to the forum to search for "Magic systems", basically THIS IS WRONG. You can test other's systems, take some ideas from it BUT NEVER based your trading on it. Being a trader means a lot more than that, it means Research, read and understand the FX world, understand how a system works, and why price reacts bullish or bearish.

3. There's a lot of stupid people waiting for somebody to post a system and force them to show why is this system profitable. I;ve seem a lot of people asking for probes, account history, etc to make sure if a trader is really success with the system that he/she is sharing. Be serious guys, if a person come to share a system that he hardly build, be thankful and at least take your time to test it and see for yourself if the system works or not.

So DON'T spect that somebody will post a magic system, DO YOUR JOB and read read and read, and last but not least: BUILD YOUR OWN SYSTEM.

[allalongthewatchtower]

Originally Posted by Pukey

Is anyone else pulling there hair out? I've been trading for about a year with no real success to speak of, and fading hope that this can actually be done for a living without already having enough money to make trading a fun passtime. It seems that everyone on all of these forums is either still searching for a magic system, holding their ground with a tiny account, proclaiming to be a guru without actually teaching anything, or trading with an account that they started with more money than I've ever seen (james 16 at FF, for examlpe).

Every system I've tried seems to work for a little while before falling apart for no reason I can ever put my finger on. I think I'm a reasonably smart guy, business owner, family man. I've gone through times when I have invested as much as 4 hours per day to the charts. Indicators, no indicators, S&R, fibs, I've tried them all for as long as I could stand it. I've seen the same names in these posts for the last year without anyone ever saying that they have finally made it. Did we all start at the same time and it just takes longer than this? What about the "95% fail" rule? Where are the 5%? I really need to here from them if I'm going to stay sane. I need to believe that a person can make alot of money, in whatever time necessary, without already having alot of money. Yes, I understand compounding. What I don't understand is consistant winning. Who's doing that?

Thanks

Jason

Have you read "Trading in the Zone" by Mark Douglas?

[xtraction]

Originally Posted by Pukey

Is anyone else pulling there hair out? I've been trading for about a year with no real success to speak of, and fading hope that this can actually be done for a living without already having enough money to make trading a fun passtime. It seems that everyone on all of these forums is either still searching for a magic system, holding their ground with a tiny account, proclaiming to be a guru without actually teaching anything, or trading with an account that they started with more money than I've ever seen (james 16 at FF, for examlpe).

Every system I've tried seems to work for a little while before falling apart for no reason I can ever put my finger on. I think I'm a reasonably smart guy, business owner, family man. I've gone through times when I have invested as much as 4 hours per day to the charts. Indicators, no indicators, S&R, fibs, I've tried them all for as long as I could stand it. I've seen the same names in these posts for the last year without anyone ever saying that they have finally made it. Did we all start at the same time and it just takes longer than this? What about the "95% fail" rule? Where are the 5%? I really need to here from them if I'm going to stay sane. I need to believe that a person can make alot of money, in whatever time necessary, without already having alot of money. Yes, I understand compounding. What I don't understand is consistant winning. Who's doing that?

Thanks

Jason

Jason, the 5% are enjoying their profits. You asked about consistent winning. Have you tried "consistent losing"? That is not the same as "losing consistently". The first is making sure you losses never exceed your maximum risk per trade. The second is just "bad luck".

Open a demo account and begin trading as you normally do, except set a stop loss of 1% of your starting account balance each day for each trade. If you make 1% of your account balance then quit for the day.
If you start with at $10,000 account, then you quit trading if you make $100 and you stop out of a trade if you lose $100. Let us know after a couple of weeks how you are doing.

[brath]

well i have been doing this for 6 months now and i have had great success , i got a great system and good money management skills ,so iam covered now yippie