Seriously, as I am new to this business, I haven’t earned any profit yet. I always came up with loses from reasons maybe of lacking enough knowledge and/or self discipline in facing trades. Yes, I admit there are times when I came up with some pips but then because of greed I end up losing in a day. It’s so frustrating but I don’t blame the market for it. Maybe it just simply shows that I should learn more with this and control whatever emotions I have inside while doing trades.
We need knowledge about trade for start forex trade.we can earn lot if we has trade knowledge and if we start forex trade without this skill we can fall a loss.who are start forex without and want to become rich in sort time they can loss their property can say that forex is frustrated.greedy person can say that also.
Absolutely +1. I’ve seen you handing out advice to other traders, maybe before you do that as my friend above says, get a system in place that will give you more success than failure in the long run. It will be a lot easier to control the emotions once you do that.
Good Luck
Gp
if you are loosing continuously having no profit at all . It means there is a deficiency in your trading and analysis. Go back to practice again .learn trading with money management . When you will be good to manage a specific amount in demo you can try for real trading again.
That is not completely true. There is no deficiency nor efficiency tradin or analisys because you will never know what really move the markets. You are only overtrading. The more you resist the temptation to overtrade the more chances to have winning trades you will get. Don’t look losing trades as a bad thing, don’t be ashamed of having a red balance, as long as it is not too red. Look at loses as your tuition costs, as it were rent and electricity bills. Most bussines generates loses the vey first 5 years and this one is not the exception.
I think you need to find many strategy and chose one of them that suitable for you…
It same with me,I never win in forex, i always lost there. After i got an EA, it make my spirit overflow and continue in making money in forex…
in lite forex broker, i can make withdraw $120 per weeks,it’s more than enough for me…
Mumuy, don’t fall into that trap. Take some time away from the markets and then come back. Once you let your emotions get the best of you, you will most likely only just stack up your losses!
I’ve also benefited a lot from keeping a journal of my trades; it’s much harder to take a trade that you know you shouldn’t when you have to write down your reasoning for your trade as “Hmmm, I don’t know. I’m just pissed off at my losses.”
You look at that and realize it’s definitely time to be done for the day.
I’m also not a stranger to consecutive losses, so I get where you’re coming from. Mr Gone is right, you might be overtrading. Aside from all that have already been suggested, I also think that a more detailed trading journal would help. Maybe you would be able to isolate what exactly you’re doing wrong and where you can make your improvements. Don’t worry, we all go through trading slumps
Maybe your strategy doesn’t suit your trading style or something like that. You can find some strategies in the other forums, give them a try, who knows they might work :45: Try looking for a book or seminar in the vicinity to see what other options you might have before throwing in the towel.
Remember: “There’s no such thing as failure, only feedback” - quoted this from someone. Losing is just feedback that something isn’t working. The sooner you figure out what is holding you back, the sooner you can make profits.
I’ve only just started the learning process (like last week!!) and I’m working my way through the school and demo trading as I come across new concepts to try it out. So far 3 wins and 6 loses. I see both the wins and loses as part of the learning experience and a chance to hone my skills.
Once I get through the school I’m going back to grade 1 and starting again to see re-apply anything that I missed or didn’t fully understand the first time.
So far I’ve realised you need to change your strategy depending on what the market is doing, I.e. a different trading style depending on whether the market is trending compared to rallying.
Hopefully I’m on the right track. The wins I’ve applied fibs during trending, the others I set my stops too low or didn’t cater for the buy and sell difference or spread. Took a few trades to realise why I started in the negative ‘at market rate’
So I thoughtmid share my experience, if you keep losing maybe go back and do some re-reading and re apply what you learn?
Oh, and another thing, check the timeframe you’re ‘charting’ in (is that right terminology?). I wanted quick results so I used 1 and 5 minutes and lost quite a few. Then went out to 4 hour and daily and found the pair had actually been in a descent bullish trend for a few days. I jumped on and about 6 hours later I’ve made back more than I’ve lost so far (I haven’t closed yet but I’ve got my target and stop loss in place)!!!
So OP, that could be something else to consider too.
Hi, how do you think about trade copier. I just saw a trader with amazing result in October. I don’t know when he start trading but I’m impressed with his statement on fxvnol dot com
Don’t worry, you’re not alone! I have draw downs, my friends have draw downs and even who are reputed to be “the best” have draw downs! But it’s our ability to see the bigger picture will make our long term success ultimately.
To give you an extreme example, the case of Billionaire T. Boone Pickens, who started up a commodity fund in 1997 with some friends (worth some $35 million). However, the fund made a loss of 90% of it’s value down to $4m. By 1999, he’s pretty much breakeven…but post 2000 it rockets up to $252 million and then, by another $148 million by 2001 to $400m!!
All you need trading is a strategy with a willingness to stick to it in sickness and in wealth…this, in addition to risk management and patience and discipline will stand you head and shoulders above most.
Frustration is not the solution if one loose his money .Loss is not unexpected thing , one should prepare for it before he enters in market. Do trading in bearable margin it is a best way to avoid frustration because when you try for higher profits your expectations are not true every time.
