Look at that price whipsawing up and then coming back down. Do I take profits? Whats is going on!!! I have no strategy. Lmao. The market loves to play games with your heart.
Considering heās starting with $500, I donāt think that can be life changing. Thereās nothing wrong with setting up a plan and going for it. As a matter of fact, his plan wasnāt unrealistic at all. I think he aimed for 12+ years. However, I do believe you have to be at peace with yourself before you can tackle something that can put you on a roller coaster of emotions.
Please do elaborate on your experience of watching traders fail. Iām interested.
Ahahaha! That was funny.
Try shifting your weight, alternating cheeks every 15 minutes or so.
Seriously, the less you feel you NEED to make money trading, the better your trading will be. If you are not there yet wellā¦then you are not there yet. 
This is somewhat related to the OPās post.
If you think compounding is great, wait until you discover the Kelly Criterion.
tip toes out
Or maybe we just exaggerated our situations and discribe how stinks our life is and truly its not. There are times or days that we think everything is bad because we wanted to feel bad for ourself. I can always make a dramatic soap opeara kinda statement how I havenāt been going shopping and vacation for 3 years! I havenāt have my nails done in a month! Though, shopping will be the worse case scenario for me lol. Really, we sometimes make our problem bigger than it shouldnāt beā¦
The reason why I asked you if you know him personally, have you talk to him lately?, have you seen or do you know how he trade or what his strategy is? If all your answer is yes, then you can make a conclusion of what you just made base on " fact" because you saw how he is off line then you can pull him aside and invite him for a beer and say that to his face that " Man, you suck! Stop trading now before you lose all your money" but until then we donāt have the right to judge him base on what it is written on hereā¦IMO
Thereās another form of compoundingā¦itās compounding loss.
Hereās an example. With perfect play in video poker, your average return against the house per hand is 99.5%. That means, itās exceeding close to a 50-50 coin toss. But if you play repeated hands, you start to feel the effect of compounding loss. After 140 hands, on average, you will be left with only 1/2 your original stake.
Thatās how I see Forex trading. There is no house against you. But because the broker takes a few pips, itās just like my example in my example. It becomes slightly less than a 50-50 coin tossā¦one that you will feel if you trade enough.
Of course, with skill, you can overcome that. But most traders donāt have that skill.
that a great idea , i would be up for it
i am offen in the chat room to chat and get ideas
this is a great example to all the hater out there that said i cant hit 60 pips a week
if you read the first post i state that you need 10% a month , that only 2.5% a week
and i got sooo many hater saying it not possible
thanks for the feedback
[B]Guys Lets please keep the hater to a min - i would like to keep this thread to positive and informative thread [/B]
this thread is already 8 pages long with 90% of the post hater with a attitude" [U]you wont do it[/U]"
If you a driven and stick to it , you will achieve all your goals
[B]The plan wont fail - it you, that fail the plan [/B]
It always the operator and not the calculator
If you had a goal of losing 10KG in 12 months
after 12 months you gain 10KG
[B]
The plan didnt fail ā¦ you fail the plan [/B]
Did you continue going to the Gym after the first 2 week
Did you start doing exercise
Did you start eating more junk food
i started with $500 and now have $5,000 ( wow that crazy right - no not really )
but it took me a bloody long time . i spent months trading 0.01 lot trying to make $25 a month but i stuck it out
now if i started with $5,000 and turn it into $50,000
I would be called a lair because that is really crazy
Lets all help each other - So we can all reach out Financial Goals
^ Youāre rightā¦we should help each other. But in a realistic way.
Going from $500 to $1 million is not realistic. We shouldnāt be talking about fairy tales here. There are constructive ways to talk about making money that is responsible and realistic.
Why is 60 pips a week considered hard? I get 200 pips a day trading USD/JPY. Not everyday mind you but often.
your going to find alot of people say it wont happen
but if you cant avg 60 pip a week or 2.5% a month , Forex is not for you
this is just one of my history charts
Total losing trade (3) 383
total winning (6) 922
= 539
It turns out that many conversations are only about the ego.(who are you to say ā¦ How many posts ā¦, etc , ā¦)
Compassion is a real gift from the free will. No judgement. No return expected. Just true compassion.
Lolā¦ Itās okayā¦ We all have our own opinion and our own views thatās why we are all different but the bottom line is we all wants to make money. How are we going to do it? Depending on our personal experiences and preferences and what you knowā¦
I read your other thread.
No, you DIDNāT earn 200 pips, you earned 20. And youāve done it for whatā¦ A whole week? Come see us in a couple months, and tell us where you are. And let us know how hard it is to consistently make over 60 pips a week.
This sums it all up āI donāt see why making 60 pips or 200 pips is hardā - itās always a good idea to learn what a pip, point and tick is first lol
Its funny, to me anyways, because I did the same thing, bwhahahaā¦
I remember I got my first 300 pips, then, I think it was Clark that flamed meā¦ But i learned from itā¦
I never understood why people brag, lie or exaggerate. Nobody gets a medal on this forum for their trades.
Without a doubt some will be paid by brokers to perpetuate this myth that making x pips a day is achievable. Thereās no shortage of people making outrageous claims in order to sell their services, training, mentoring, EAās etc
For the first 2 or 3 years that i was trading, even I believed that there where traders comsistently making 2000 pips a month, and I believed that garbage because thatās what everyone told me, mentors, signal services, authors, forums, the whole industry is insane. If anything, the situation has become even crazier as marketers have to constantly make more and more outrageous claims in order to gain market share !
I suppose for those without a commercial agenda, itās just another one of those self destructive things traders tend to do.