Well there seems to be a lot stacked against forex traders, systems that dont work, bs taught by people who should know better, websites that give misleading information, even trading platforms that seem to be great until you start looking into it closely, take metatrader, popular and widely used not least for the options it has for creating EA’s but did you know the chart data metatrader downloads from metaquotes to fill up the history is useless for backtesting and will give false results to the point where an EA that appears to trade highly profitably on backtesting fails miserably in real life yet everyone just accepts this, why ?
I believe the reason so many people are losing money is because there is not enough emphasis on economics and fundimentals Everyone wants to learn technical analysis and every site cant wait to teach you it, and then you find out everyone is losing their money on it, have you ever wondered why it is that so many sites teach you this stuff and when you try to apply it to live trading you discover its a bunch of bs that has no hope of working consistantly or profitably ?
I have really begin to wonder if all the forex websites are not run by the brokers themselves, the bucket shops who want your account so they can pocket everything you lose.
Even this site recommends you start your first live forex account with tens of thousands of dollars how crazy is that they know damn well what would happen to those tens of thousands of dollars on someones first live trading acount as has been described by posters on this thread, anyone who was really trying to help you would recommend you open your first account as a mini account a few hundred at the most and trade tiny lot sizes as a practice before using your life savings.
And I’ll tell you what really irks me the most is I can spot an old phoney a mile off, someone who is “teaching”, systems and methods they obviously arnt using themselves to trade profitably because if they were they wouldnt have to use charts from several years ago to demonstrate it and yet when I try to say anything you all jump to their defence, call me a troll and continue to adorn them with acolades and yet you are the ones losing your money are you all blind or something ?
Why cant you all see, people who have a real and profitable system to teach you would be showing you their current charts from the past couple of days and today and talking about their profits and showing you what they are doing right now and what positions they have opened so you can do the same ?
I’ve been working at Forex for nearly seven months now but never left my Micro account; I always said I’d be sure that I could win consistently before adding more significant sums.
However, I started out with $500 and lost nearly all of it in the first few weeks trying to trade the news (newbie mistake). Over the past six months since then, I’ve steadily added (and slowly lost) a few hundred more.
In total, since the start of my forex career I have deposited $1300 and my balance is currently just over $300. I realize these are not exorbitant sums of money, especially over a stretch of time like this.
However, despite spending nearly every waking hour of every single day since the beginning working to learn forex trading, I still do not have a proven system in place that reliably wins more than it loses. How do you like that?
And, yes, I’ll be adding another $200 this week.
Because winning usually happens just beyond that point where everyone else would’ve quit.
A little vindictive digression there.
Some people who have a real, and profitable system, will never show you a thing.
The question was,…
how much did you LOSE as a beginner?
I havent lost anything my account is in profit, I have never blown an account not even a demo one if I did I probably wouldnt be trading now.
and it isn’t vindictive agression, its more a little frustration when I see people getting led down the garden path.
Mr Tang I know you and I haven’t always seen eye to eye but I can assure you I don’t take any pleasure from the knowledge you or anyone else for that matter lost money and I really do hope you turn your initial losses into a nice profit over the long term.
I’ll tell you one thing though, back when I first started trading a demo account I was on a livechat with one of the experts from forexstreet.com, a lady called Valeria who was there to discuss forex with anyone who wanted to ask her questions.
That lady talked like an economics professor her knowledge and understanding of the financial markets, and the economic factors that drive the forex prices blew my mind, and in the whole of the chat I dont think she mentioned technical analysis once, I couldnt even begin to tell you the things she explained to me in answer to my questions, but everything she said and predicted turned out to be correct, that was when I knew I had to study the fundimentals and use them to aid my market entry decisions.
One thing she said to me was, when a trend is in progress, nothing is going to alter that trend except the news.
I wanted to have that kind of an insight too. Thats not to say I dont use technical indicators and analysis too because I do, I try to use both my aim is to be an all rounded trader using both technical and fundimental analysis.
Sounds vindictive…
Not to mention completely unnecessary.
Do you seek followers? Or acceptance?
Check your PM box shortly:)
And I said [B]DIGRESSION[/B]
You were off topic:p
I agree with you 100% , It just seems to me like every other site is out to make a killing giving crap advice. The value of a country’s currency is not going to be determined by a trend line or some fib level. Traders reaction to fundamentals are the only thing that determines price, That’s it.
When i was still trading blind I lost about 30% in 1 day
The trail to the top of the mountain isn’t a paved 8 lane freeway, it’s one person wide, and a treacherous climb.
There are predators, and prey in every facet of life.
The ones that live the longest are the most wary.
Never trust promises you can buy.
Knowledge is power.
Its followers im looking for, I plan to build a compound in Texas with my profits from forex trading with me as leader and all the women have my babies while we prepare for the armageddon by getting lots of guns
That’s right on a pivot point. The bias would be negative:p
I can just imagine it now, on the news in 2013, “An insane forex trader killed himself and all of his comrades in Waco, Texas” And I will be like “I know that guy!!”
SDC stands for southern death cult 
Uh, coincidence, right? wheres the fbi when you need them?
that sounds like a reasonable plan 