I think this is just a scam! Someone is monitoring my activities. I am not paranoid, I just think that each time I invest, the market goes to the opposite direction although all indicators says it go to the direction I choose...it did not happened to only one but all of it! ****! This is a market that can be manipulted.
Wow! I can feel your anger through the screen.
First, one of the things that makes forex so appealing is its size. Because of its size it is not easily manipulated. What you are feeling is nothing but pure frustration and understandably so. But don't get yourself into thinking that the market is responsible for your losses. You have to take full responsibility.
Indicators respond to what the market does. It indicates a rising market only because the market is rising. They are mathematical derivations of what the market has done in the past, which is why they have lagging properties.
What i would suggest you do, just to set your mind at ease, is look at a few different data feeds. See how price acts from several different sources. If you notice that price is behaving very differently from one feed over the next, then maybe (although unlikely) you have a problem with the data feed.
What you have to understand though is that the market does not care when you enter or exit positions. The market will do what it wants to do, not because of manipulation, but because of normal market behavior. The price behavior you see applies to everyone. The fact that you chose to enter the market when you did only to have it go against you is a function of your decision making process, and not a function of some conspiracy theory. Look inward to figure out what's happening. Accept that the responsibilty is yours and yours alone and you will get over this hump.
Look at this...just 30 ago, EUR/USD is flactuating 1.3294/1.3285 and I am losing....but slow gaining towards my (I'm losing 10 pips) and just a minute ago, it went to my direction but very slowly...so whent reached 0 pips lost, I closed it then the market jumped 10 pips towards my direction...can you explain that?
You have to understand that this happens to everyone, not just you. Please believe that. There is nothing more aggravating that closing out a position at a loss or break-even only to see it jump in your favor shortly after. I guarantee you that every single trader on this planet can tell you such a story. It happens and is part of the game.
These sudden jumps/drops in price happen regularly, especially during volatile periods (during news releases for example). It can also happen pretty quickly with volatile pairs like the GBP/USD or the GBP/JPY.
You have to learn to view each trade in the proper context, as part of a series of trades within a well-tested system. If you have a tested system you should already have an idea how many times things like this happen and the impact of these occurrences in the long-run. If you have no idea, then i can assure you that each time it happens you will get upset.
I think the problem is the stops you have. 10 pips is ridiculous with the EUR/USD, the EUR/GBP is fine with ten pips, but where you put that tight of stops is crucial. That means that wherever you enter is the most important. And, because the market is unpredictable, getting in won't always happen accordingly. I used to have tight stops, they worked ok, but they cost me more losses, a string of 10-15 of them. By the way what do you mean by the 250 is enough to influence the market. listen, hit the heavy bag, go for a run, do whatever will calm your nerves. It sucks, I know but the fact that your pissed and trading is like alcohol and gambling - trouble. Look, I'm not telling you to change your style, but watching the fluctuations were too much much for me when I started, and yes I felt the same way. That's why I went longer term. It got to the point where I was praying on my knees for it to go where I wanted it to. Scalping has to be the the most emotional thing I've ever seen. Just keep plugging away, eventually the skies will clear. Besides your thinking in terms of the now, a few losses is nothing, you can make it back when you get a winner. Hope this cool the heat a bit.
I am just so surprise that a 250 sell-off could easily influence the market...if it is not manipulted on someone else favor. Ok, this could explain also why after a 1000 long investment in EUR/GBP has broken the 12-day up trend which causes it to plunge 70 pips in just one day! Whew! 1 trillion/day market! scam!
xblaster, the key to calming your nerves and your erroneous perception (that forex is a scam) are 2 things:
1. Step away from the market for a while. A couple of days might do you some good. Get the anger out of your system
2. When you get back, work out a set of rules for entering and exiting and backtest/forward test it. Only then will you know what you can expect going forward. Let me put it to you this way: Would you be as upset if you knew that the system you are folliowing regularly experiences 5-6 losses in a row before hitting a huge winner to offset everything and more? But if you have not tested your system you can't possibly make those kinds of convictions
Forex is most definitly not a scam. There may some dishonest brokers out there, but overall, it most certainly is not a scam.
Remember that the market does not have to conform to any expectation. I'm not sure what you mean by "250" but the market can do anything, anytime, however it wants. Do not attach an expectation to any single event because the market does not have to obey. Sometimes a normally meaningless event/report can create moves that we don't expect.The sooner you establish that mind-set the sooner you will accept whatever happens.
Stop being so angry because right now you are your own worst enemy
just remember that 1 trillion dollars isn't only in the EUR/GBP, it mainly in the USD pairs. The EUR/GBP isn't very volatile, so I could see it being easily manipulated, but whoever told you that it was only 250 sell off, is talking out of their a$$. They don't have the actual numbers for how many sell, or how many buy, plus fundamentals are involved as well. Plus, who cares something like this that happens should give you the feeling also that soemthing like this could happen in your favour. The market moves whether your in it or not. What's the sense in getting mad, besides this should tell you how hard the market really is, if it was easy everyone would be rich right? Right now is a good opportunity to control your emotions, complaining only makes the thing worse. Remember you are trading against professionals. Try and lace up some skates, play in the NHL and score on your first shift without getting hit. Is it possible, yes. Will you do it, probably not. So don't worry about a few losses, in the end the reason you lost is your own fault, you were the one who put the money up, you were the one who accepted the risk. The idea that forex is easy is a scam, and just because someone posts "7 easy steps/tips whatever to help" wont help. Why? Because experience is only thing that will get you better, try studying for a math test by reading the chapters and not doing the problems - you will do bad. BTW look at the daily and you'll see that the trend was much more than 12 days. Again the EUR/GBP is in a bear market long term. (we're talkng weekly, monthly, whatever.)