Hello friends, Mars here; just recently started to dable into the Fx market and just recently lost over 300 dollars of my hard earned money. But, it’s not the end of the world I am taking it as a learning experience. For now I’ll be watching my trades like a hawk…the moment I go 15-20 pips down Iam pulling the plug. But my goal is to go to work in the morning and let the computer work its magic and make me profits without me having to sit there like kermit the frog on his wedding day.
If you are scared of failing, then you are scared of succeeding!!!
Work trough the school first. That should give you a good understanding of how you can achieve your goals.
From what you wrote I think that you are looking for a swing trading aproach where you hold positions up to several days.
However this can hardly be combined with a stop loss of 15-20 pips.
Anyway, work through the school and maybe read “Trade your way to financial freedom” by Van K. Tharp. There you will learn all the concepts you need for creating a goog trading system.
Thanks FX community I am learning a lot so far; I read the whole book entitled “The Complete Idiots guide To Foreign Currency Trading” and I am in the 2nd grade of the babypips.com school; and just today started reading my second book entited: “Currency Trading for Dummies”. Unfortunately in this world money means a lot…well everything. No money no honey and not only that–no food, clothes, shelter or peace of mind. I just want a peice of the pie friends. If life is so unfair that it gives sports players millions for playing a sport then I just want a little bit of that back to make things balance out. We are all in this together friends. One day Aristodel’s protogy asked him a question, he said: “Aristodel, how can I be as smart and as wise as you?” Aristodel looked at the boy but said nothing. Aristodel walked to the ocean and into the water. The boy seeing this followed Aristodel and also stepped into the waters. Aristodel finally stopped walking when the water was at neck level. at this point Aristodel faced the boy and began drowning him visciously. the boy stuggeled for his life and finally Aristodel released his grip and headed back to land. The boy was baffeled and disoriented and ran after aristoled and said: “HEY, WHY DID YOU DO THAT!!!” Aristodel looked at the boy and asked: “When you were in the water what did you want more than anything else?” The boy replied with a shiver:" I just wanted to breath. “Good!” Aristodel said: “when you want something that bad, as bad as you wanted to breath; then you shall have it”. My friends I want to learn this business and I want to learn it that bad. Do you?
We’ve seen this train wreck repeat itself in this forum time after time. Someone comes in and starts by saying they are new and they have already lost lots of money/wiped their account out once, but they are getting back on without taking any learning experience from it, and trying to figure out what they were doing wrong “on the fly”.
The forex market is not for “dabbling”
Why would you waste your money by learning from trading real money, when nearly [B]all brokers[/B] offer [B]FREE[/B] demo accounts?
Step 1: Log out of your live account. [B]Do not log in again for at least 2 months, no matter what.[/B]
Step 2: Read through the Babypips school at least twice
Step 3: Trade a demo account for at least 2 months.
[B]HEED OUR WARNING[/B]
Believe it or not, we know what we are talking about. If you choose to ignore this advice, well… don’t say we haven’t warned you.
Yes to all said below me but what got me
scratching my head was the post regarding,
yes you all know; the stop/loss comment
of 15-20 PIPS. He’ll pull the plug on 15-20
PIP drawdown? Well, then get ready to keep
losing losing losing and spin your wheels
and keep on scratching your head.
Oh, and I might amend what was said
below by changing 2 months to at least
six months to a year. Yes, some of you
really need to study and learn on demo
for at least 6 months. It’s evident from
truly bizarre concept some of you hold
that more education and knowledge is
in order.
Hello friends Mars here again. Well, this is all really good advice. Should I really stay away from the keyboard??? The demo account is nice; but it just doesn’t do it for me. It’s not real money therfore I don’t take it seiously. I need that excitement, that edge! I am really hard headed and I have found that the only way I learn anything is to continuously put myself through lots of pain and suffering until I fuigure it out. When I was younger my daddy would have to continuously beat me with all sorts of lovely items…belts, electrical cords, a punch here or there. But i learned, boy did I ever learn. And so friends, I am not afraid aymore of lifes ugly side, and if I have to lose it all it’s o.k., cause I’ve had nothing all my life anyway.
Mars don’t step away bro!! I feel you about the real money thing.
Heres a solution goto a broker that offers micro accounts. I use ibfx and they have micros. Open an account with $250 coz you can trade for as low as a penny a pip but heres the deal
I get the dabble thing too but what everybody feels if I may be so bold is that forex is a serious endeaver it is not a hobby!!! Hobbys cost money.
If you want your piece of the pie well God bless you coz I do to and so does everybody and in this market when there are winners there are losers.
I can tell you the supposed 5% that do suceed are taking the 95% losers’ money and I can guarentee they are more than dabbleing.
Are you really gonna learn from scratch with real money? That’s crazy man!
Any other profession requires training and experience before your superiors will let you take on any real responsibility. Independant business people will have a plan in place before they open up their business. It sounds like you don’t have any of that.
Why would you treat forex any differently? It has the potential to pay you more than any other profession but you’re willing to go into it unprepared?
If you truly want to lose your money, just send it to me.
Send you my money!? Oh, of course what’s your routing number again. Yes well folks my approach may seem cazy but it’s how I’ve always done things. I think I’ll quote the joker on this one…" plans??? I have no plans! The mob, they have plans; the police they have plans. they’re little schemers always making sure they have a plan. But me, I have no plans, I just live for the thrills"
So, I think this business is challengeing but without losing real money how else am I supposed to enjoy the fight.
Joker: " All you peopel care about is Money!!! The Forex needs a better kind of trader…and I’m gonna give it to them. heheheehehehhhahaahahahahahah!!!
