What annoys you most in Forex

haha, yes this is also very annoying for a technical trader especially if he is trading on a higher time frame and a good trader of a day or two is wipped of by a bad news report.

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My biggest challenge is not taking trades that turn out to be winners. Lots of times I hold back because there’s a big event ahead or because I already have a similar position with another pair.

Right now I’m working on being more confident in my trade ideas and stepping up my trade management skills. Hopefully I’ll get less should-have-been trades over the next few months.

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Thought of a couple more…

Gurus trying to flog their amazing system - if its as good as they say, why aren’t they drinking champagne on their yacht in the Caribbean instead of trying to hook noobies for $20 a month?

Noobies who’s first post is asking others to tell them how to make money because their too lazy to be a###d to learn it themselves

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Waiting…

I used to trade like a hamster on speed…

Now I target one or two pairs, always the same ones,

with a clear bias, and wait, and wait, and wait for the

right entry after pullbacks in a trend…

Plenty of false starts, so you can get caught out…

Better to lose 70 pips out of a possible 200-300 pip

move, say, than jumping in too early on a false move

because of impatience.

But the waiting will be worth it…

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It is true that patience is a virtue. That is why in Forex we must be patient, wait for the right momment, but dont freeze either.

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Really loss annoys me most. We all have good expectations of earning from this market but when it didn’t work out for us, we seem not to be happy. All I am doing now is trying my best to limit losses while I increase my chances of gaining from this market.

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I think that being patience and keeping calm is the hardest, specially when numbers are moving against you.

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I hate it when a ‘red’ announcement comes out such as the GDP and it is negative however, the currency rallies out of control. I’m beginning to think that I should stay away from important announcements.

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One of the things you will notice is that “news events” aren’t meant to move the currency in the direction of what the new event suggest the price should go. The reality is news events are events which can push a currency 2x to 50x in 1 hour more then what the currency had traded over the past 24 hours. One of the things which you will see many people do is take positions right before news events only hoping to make a quick buck off of the shift in the price which will occur. The reality is trading in such a matter is at best gambling, and takes away from the essence of trading.

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Actually that doesn’t bother me. As long as I followed my rules I can accept that sometimes things just turn against you. Not sticking to my rules bugs me, even if it worked in my favour.

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when you have had a losing streak and you start to doubt yourself and then you can’t tell anymore if it’s because the trade is just bad or you are doing it because you’'re afraid

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1-2 ticks away from TP then 10+ pips reverse -.-

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[QUOTE=“Huck;685814”]My biggest challenge is not taking trades that turn out to be winners. Lots of times I hold back because there’s a big event ahead or because I already have a similar position with another pair. Right now I’m working on being more confident in my trade ideas and stepping up my trade management skills. Hopefully I’ll get less should-have-been trades over the next few months.[/QUOTE]

You have a plan for a reason. Stick to it.

If anything open a second account to fine tune ideas and concepts where you might find a way to better optimize your plan.

But to not adhere to the plan you have negates the reason for having a plan to begin with.

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That the forex forums are cesspools of scam artists and fraudsters.

The new and the stupid I can understand, that was all of us at one time.

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What grinds me the most is when I take impulsive decisions or even forget my agenda. Most of the time my philosophy is right but then I break my rule. Or, I simply dont take the trade like a business. Any mistake I make in a trade ends up costing the trade. I will learn to be smooth and flawless. I dont care if I lose the trade, as long as I conclude that I did not commit any mistakes.

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What annoys me most is after spending time to analyse the market, and the market turns to a negative direction when I finally place my trade.

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What annoys me most is when I am caught up opposite a trend, when I finally gave up the hope for reversal, and exit the market starts moving to the desired direction in an impulse…is it a coincidence or is it a collective psychology situation ?I don’t know! But I have noticed many times this and feels it will be an edge if I can get a rein on emotions

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I had\ have same issue. I think we r to caught up in the 1 to 1 or 2 to 1 ratio we have to get to be considered trading correctly. But like u said, just when its about to get there it turns and our winner is a loser.
So after to many of my winners turning loser and then feeling like crap I will either take half profit at some point or I will take profit when it nears my tp. I would rather sacrifice some pips than lose them all. And if my rr isnt perfect by the book I dont give a dam.

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For me its the unbelievable amount of scams around forex. It is shocking for me how much advertisements are there on the internet, like “you can learn the secret method to be a millionare in just 1 day, now only for $499.99”, or “buy this program for $299.99, just install it and your return on investment will be over 9000”.

I’m in this small Hungarian forex trading Facebook group, around 500 people, and still these spambots and advertisements still find the group somehow, and try to sell their sh*t. Also everywhere you go on the internet, you can meet with these scams.

I’m not surprised that most of the people, when they hear the word ‘forex’, think it is a big ripoff. :smiley:

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I think this is a very fine idea, but for sure it has it’s dark side. But waiting really can be frustrating, but one other thing I find annoying is how unpredictable the market can be, it can take fast swing on you.

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