According to me, the traders who are loser from this trading place have to move on PAAM services. It s a great source to invest money and earn something without trading manually.
well mate
Forex is not for everyone, so sometimes it is best if you can conclude that it’s not for you.
Hope you didn’t lose too much in the process
Good luck in whatever it is you choose to do in the future
be cool
Could be. Thanks, I’ll think about it.
hey forex is just that currency doesnt move much so you have to use leverage if you want to gain more, no wonder you give up , you will be fully hedge every time you get in there let me give you some strategy go to 1 h time frame and use 200 sma , and follow the trend and add to your position every 100 or 200 pip move depend on currency pair move and if it goes against you trade against it until you know is enough ,apply 4 to 5 time leverage max by scale in or out your positions like i said if it goes against you or if it goes following the trend any time you feel you add in one leverage try to build up your position over time rather than get in all at once , you can develop this more by knowing support and resistance levels and when you want take some profit or which pair you want to trade on
know the news and avoid it with tightening stop loss , you gain 1000 2000 pip a year this way so 4 to 5 time leverage make you near 50%
I totally agree
it took me , personally, around 3 - 3.5 years approx to reach what i would consider PROFITABLE TRADING.
i agree that 2 years was not really enough and i think he is giving up prematurely.
but hey, i didn’t want to pressure the guy , only to have him fall into another losing cycle
my feeling were… if he feels like he’s had enough , then LET HIM BE
its not for everyone and it can really give you an emotional beating .
and it sounds like this guy has had his emotional arse handed to him on a platter and finally given up
i say maybe he should call it a day
UNLESS HE STILL HAS SOME PASSION LEFT OVER
but if he doesn’t, then there is no point.
Here you go mate
Me Personally, i would interpret this as solicitation
i mean
You’ve basically just said
then you went into , what could be easily interpreted as a sales pitch or solicitation
by saying
and then you went into a weasel disclaimer to the moderator
now with regards to this
i’m not the moderator, i’m just giving you a heads up
i’m pretty sure that putting up stuff like this is not on
however, in saying that, if you put up a link to something that is useful, its generally ok
but this is a link to a guys site who proposes to take money for forex services.
i would tread carefully if you i were you
there are different ways to post this as well, but you chose the way where you highlighted the keywords hehe
NOT EXACTLY DISCRETE… you know what i mean LOL
if the post is out of line
they’ll ban it (that’s the warning)
you keep repeating it, they kick you off the site
that’s the advice i can give you
i would suggest you read the links as a bare minimum
have a merry xmas
PAAM services success completely depend on brokers performance, so it contains huge risk and the main problem most of the broker right now are found to be scams.
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Hi Bob. I also learned from babypips on d beginning. Soon I realised I need good tutor - and I was right. Invest into Lex van Dam academy or I also know few people who attended seminars of Anton Kreil. Either of them will pay off. If you are really in love with trading. Good luck!
Sorry to hear that. As i also agree somehow forex market is a highly volatile and competitive market, so it requires a good deal of understanding about forex market and understanding. But i also beileve, you can trade here smoothly as there are numerous opportunities to trade. If you don’t want to take serious risk, you can work with mini accounts, also can work as scalper. So much opportunities are here.
Hey BJ…
Harsh reality is that because FX has no central educational authority…its an extreeeeemely difficult task of creating a strategy on your own from the wide range of Mentors…strategies etc.
There is definitely a method to the “madness” of this market…from Central Banks and Economists like myself using Regression to predict , manage and invest for profit to individual Banks. Unfortunately for Retail Traders the quality of the strategies marketed are just not properly tested and developed…hence the need to experiment to fill the gap on your own - and the frustration it creates.
I had to experiment for years and finally created a Swing Strategy I like that gave slow conservative 40% annually…(just finished testing a more aggressive one).
So giving up is expected .some would say rational given the work needed. But perhaps finding a proven profitable one that fits your needs is what you could do instead of experimenting.
Several people out there willing to share …at a cost…but others won’t share. Several FX competitions with profitable traders too…also a source for you .
Duane
DRFXTRADING
Yes , I admit Forex is not for everyone , but how can I realize this platform is not appropriate for me ? after having some losses can I make this decision ?
@Hadden
Now… that , my friend is a very intelligent newbie question. No Kidding.
Search the results on Newbie island and see how many Newbie’s ask this question. I’d be suprised if you found 5 max. for every 1,000 newbies.
Very smart question.
ok, here’s there answer…
When we say “Trading is not for everyone” this is what it means
- Firstly, a lot of people don’t like big explanations so you give them a meaningless answer to make them feel better, Like "oh well… trading is not for everyone"
as per my post to the OP
I mean to look at the other side of it, what was i supposed to say “Get off your arse and try again” ?
Now.even though this is probably the better answer… THE TRUTH in today’s world is this
- Some people don’t get it
- Some people Can’t handle it
- Some people are just plain lazy
now if someone falls into the above categories, there’s no point beating a dead horse,
if they truly do not understand it and how to trade, IT’S A BETTER OPTION TO STOP.
if they get too stressed and can’t control their emotions IT’S BETTER TO STOP
if they are too lazy, IT’S BETTER AND EASIER TO STOP
- Now. there is another kind of person.
The kind that really really really wants to learn and has a passion to succeed , because this person has a goal, BUT THIS PERSON LACKS ONE THING… KNOWLEDGE
well then, that’s rectifiable
so how to do you establish if forex is or is not for you
STEP OVER HER MY LAD AND TAKE THIS QUESTIONAIRE hehe
Question 1. Do you agree to answer honestly in this questionarie even though you might feel like an idiot to yourself if you do
if you TRULY answer No , then don’t bother with any of the other questions
if you answered YES, Proceed to question 2
Question 2. Are you able to emotionally disconnect from money completely, Meaning, While trading, are you able to forget completely what you did to earn the money and how hard it was to earn it, are you able to forget what bills you could potentially pay or not pay if you win or lose
and are you able shut off the excitement of winning or the depression of losing
THIS IS A BIGGIE
if you can answer YES - Go to Question 3.
if you TRUTHFULLY Answered NO - DO NOT TRADE, (you’ll save a lot more money not trading)
if you answered NO, Trading is not for you, that’s certain.
Question 3. Think about question 2 again and Re Answer it
if you still came up with the same answer of YES, go to question 4
if you now came up with NO, sit down think about it and start again from Question 2.
Question 4. Are you able to set a goal
if YES, then move to Question 5.
If NO, Then Trading is not for you (But, Kudos for being able to control your emotions)
Question 5. Are you able to put in place systematic processes and follow them ?
if Yes, Move to Question 6.
if No. Trading is not for you
Question 6. Are you able to monitor your systems and processes so that if they fail at certain points , you can modify them and learn from your mistakes
If NO. then trading is not for you
IF YES… THEN TRADING IS FOR YOU and the only thing that is really left is to gain knowledge
but we are just addressing IS TRADING FOR YOU
Lastly… do you have a basic understanding of Mathematics , Meaning the following
- Can you Count to any number
- can you Add, Subtract, Multiply and Divide
- Do you understand ORDER OF OPERATIONS
- Do you Understand how to calculate an AVERAGE or MEAN of a set of numbers
- Do you understand what a STANDARD DEVIATION Is ?
- Do you understand Proper Fractions, Decimals and Percentages and can you convert between them
if you answered NO, this stuff is pretty easy to brush up on if you simply google it, there is no shame.
if you answered yes… GREAT
so… if you can control your emotions, Set Goals, Put Procedures in place, Learn from your mistakes and have a basic understanding of Math. Trading is for you if you want to do it
and that’s how you establish that
but EMOTIONS is a big part of it
Stress. Greed, Desperation… These things will lead you to failure
however, if you are broke as hell and have a small amount of money to your name and CAN AFFORD to put aside say $1,500 as a minimum and you can forget what bills need to be paid, and if you lose you can ignore stress and merely learn from your mistakes.
YOU CAN TRADE
so like i said… NOT EVERYONE CAN DO THIS… therefore IT’S NOT FOR EVERYONE
and that’s what i mean when i say it
and that’s what most people mean when they say it
but, you see how long it takes to explain it
and given that 95% of people will be greedy or give up
it’s just easier to say to them
“Oh well. if you’ve tried and you think it’s not for you… ok then… it’s not for everyone and we wish you the best”
as opposed to trying to beat a dead horse and force a person who is depressed or ready to give up to trade again and probably lose anyway
hope this helps
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I feel your pain! Though I am no pro at trading myself I know there are those who have made fortunes in FX. I have found fundamentals helpful, with some technical craft. Some good down to earth FX books, maybe I shouldn’t say which ones, but search and you will find. Like one of the comments, maybe some position adjustments or scaling might be helpful. But it’s always easier on paper than in realty.
With all the knowledge you have gained whilst demo trading before you run away have a good look at trading on price action only. or learn more about Remko charts. The best in my mind is working off trend lines (higher lows etc.), and S & R levels… I use 2 only.
I have a proprietary set of bands which are infinitely adjustable… very useful. I have called it the DDE (will explain later,)
Hope you rethink your action.
So sorry to hear that you were not successful. I am going through babypips right now, but I made sure to have a mentor who is already making money in the form of about $15,000 per month. Maybe you could have gotten a mentor and watched them trade and see if you were seeing the same thing they saw and lfindout where you were weak at and build those areas. I plan on making sure I sit right next to someone who actually is making money and learn that way so I can be in tune with how and why they make the decisions they make using the tools provided. Let me know if you tried this or not and if you think I have a chance at success using this type of dual strategy.
How many hours per week did you devote to trading and research?
Did you have a full-time job at the same time? Family?
I ask only to get a sense of what 2+ years means.
@ToneGarot
i completely agree mate
however, whatever it means, whether it’s 18 hours a day studying it with no job
or 15mins a month
TO HIM, it has got to a point where he has given up
and i personally, seriously doubt that trying to convince him to start up again is going to be off any good
I mean, Let’s say someone does… right
ok, then he tries again, because he got a confidence boost or a second wind or whatever.
then he loses his money again (which is highly likely)
where will he then be ?
as far as i’m concerned unless he can turn around and say "I’m gonna do it now matter what"
he probably won’t end up trading profitably.
in which case, i think we should all respect his decision instead of trying to get him to restart a losing battle.
Just my opinion
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Very much mine, too. Trading really isn’t for everyone.
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hehe… how true huh
And i’ve learned over the years
it’s one thing to say it
it’s another thing to say you understand it (even though believe it)
and then IT’S A WHOLE DIFFERENT KETTLE OF FISH When you see so many people crash and burn
and feel the stress from losing after having said they wouldn’t stress
and then those people keep saying to the world “Yeah i’m doing fine with trading” when what it really means is… “I’m Firetrucked and broke, What am i gonna do now” hehe
and it literally gets etched into your brain ,time after time, as Plain and day that TRADING IS NOT FOR EVERYONE
and like a bloody mormon coming to your door to spread the word of christ,
i like to spead the word that trading is not for everyone , so that they avoid the pain
hehe
but, … they don’t listen… DO THEY MATE ?
The money gets them hooked
they think THEY can tough it out and they’ll be ok
and (in the words of the emperor in Star Wars) “Only then AT THE END do they realize” hehe,
… it wasn’t for them and just caused them a few years or months of uneccessary stress.
you know what…
there should be like a test or a quiz that one should take to Verify if trading is for them and if they are the right personality or level of intelligence
and there should be like a score, say if you are above 60% you have a chance, if you are below 60% trading is not for you
if you are above 80% it’s likely for you and you should give it ago
or something like that
Man… that would alleviate so much stress for so many people
Just a thought.
Happy New Year
I hope this paints a very very graphic picture for the newbies
I still want to hear from the OP how much time he spent researching/trading in that 2+ years.