The reason why many new traders want to quit trading is most likely due to huge losses along with promising rags to riches within the end of the week. However, this is the exact period where we learn some of the most important lessons as forex traders.
Ive only been doing this for about a month and a half, and my results are a bit mixed. The thing I gotta keep in mind is that no one is going to become a professional tight-rope walker/chainsaw juggler overnight. Im starting to gain more ‘victories’ in my trading every week as my expectations become more reasonable in addition to developing more patience. That’s the reason for most of my losses, is that I keep closing out my trades before they have a chance to develop. My strategies and predictions are accurate, I just have to keep with them. Im planning to go live with my trading next February, in the mean time I just need to keep on fine-tuning my strategy. Every losing trade is one step towards an even bigger winning trade.
Never and will never
I’ve been doing this for years and I never stop learning new things or understanding different nuances of the market.
People quite this market because they don’t love it. There are people who dabble in the market purely for the potential for monetary gains, then there are those who are attracted to the complicated nature, the challenge, the pursuit of winning. These types of individuals don’t give up, regardless of profit performance.
Hard to leave this market after sacrificing money and time. Need a payback
In opening my learning about Forex lesson and also in trading market i have loses my profit. After happening this accident i feel so upset and i think i need to stand to restart it again for complete my vision. Now i am again try, i think facing like this losses profit comes early.
I have been hacking away with this since Aug. (Win, Lose, Lose, etc…) I feels like that everyday. But I am still here. ROFLOL!
“To win the game, just remain in the game. Failure is a path to success so don’t give up, just move on with firm determination”
How the hell could I ever consider to give up trading whit a statement like that written on the wall in my tradingroom? 
Very interesting question right here! I myself have reached a low point in trading before and I did start to doubt that I could make any kind of progress at all. But I guess, as some mentioned, this is a test of how strong your guts are or how determined you are to make it.
Honestly I think everyone has “been there”. Also you will get to a low point again several times over a career. It comes down to fortitude and attitude. Are you strong enough to keep going and look at the “failures” as learning experiences and paying your dues. Or are you going to quit and look at the failures as a sign to stop trading or that trading is a sham or whatever psychological wrapper we put around it for us to accept that its not for us. Either way the choice is personal both on a mental and emotional level. Either way, when I get this low I always take a break from trading. Vacation, working out, relaxing with friends/family. Whatever sometimes its just good old fashion burn out and you need some R&R.
While I agree with the guts and glory attitude mentioned here in the end it is a personal choice. Trading is not meant for everyone. Just because you can go to a golf course and practice 12 hours a day does not guarantee you a pro career. I think it depends on why you hit that low point (we all have and anyone who claims they have not are just full of it). Psychology is the biggest hurdle and if that’s in the way then it really is a test between you and yourself. A lot of people simply do not understand it and even after years are confused. In those cases it may be best to consider an exit. Again, it is a personal choice. You need to be tough in order to make it, but there are obvious cases where an end of ones trading career may be best. Hard to admit for a lot of traders.
Hello,
When trading my own money, there have been periods where I have ceased trading and taken time away, not just to evaluate a strategy, but to evaluate a whole approach. The last time was back in 2011. I was swing trading futures and doing well (the strategy I was using was, and continues to be, profitable), but I was over-exposing a relatively small account. It was only a matter of time, it became clear, before an adverse movement would cause me to lose a very significant part of the account. Not because the strategy didn’t work, but because I was over-leveraged.
I stopped trading and took a full year to review what I was doing and how I managed risk.
I think that sometimes stopping trading is the right thing to do, but that doesn’t mean you have to walk away from it for good. As Sean Connery would say: “never say never again”!
When trading OPM, stopping is not always a realistic option, and you have to move fast to dial back the risk. A lot of those problems with leverage don’t exist when you’re dealing with larger amounts of money though.
Nick
Nick,
To me that is not considered quitting (AKA: giving up), it is more of stepping back taking a break and re-assess on what you did, and how to improve your strategy(ies). In your case, you have identified that you have “over-exposed” your account and “over-leveraged”.
As some of the advice and training info I found, that is part of the key to successful trading. Sometime you have to back off (take a break) and see why you are losing on the trade(s). And come back with a clear mind and thought (being mentally prepared).
you said it perfectly.
by all means have faith in yourself and try your hardest, but just because you “put in the hours” don’t automatically think you’re gonna make it. I’m seeing alot of traders with that mentality in forex. I think having natural talent or natural flair is very much underrated. people who tend to become profitable in forex are often displaying above average abilities in things like strategic thinking, problem solving, analyzing, etc way before forex. it could manifest itself in a passion for chess, for puzzles, for hacking, for RPG’s/MMORPG’s [role playing games which are strategic in nature], for programming, or even composing/writing music …etc,
these skills or talents will manifest in different ways when attempting forex and increase the chances of actually being one of the lucky few to be consistently profitable
I started to trade and less and less when I had amassed a good capital. Forex trading is good when you have no capital and dont mind about risk. When you have over 10k then its a bit more like gambling imo.
Good luck with your learning. Just little suggestion. Try to focus more on life trading.
Ups! May be you should take some different approach. Taking revenge on the market can be dangerous.
Well, yes, but when I ever get the urge, I just scale back a bit until I have a few good wins and the “feeling” goes away.
Agreed with you on this 100%.
But then you will lose more time than win for sure. I tried that strategy more than once. And I can tell you this much. It might help your feeling. But it will hurt your pocket in the long run. You will end up playing catch-up to win back what you losses. That is my 2 cents.