What is it about forex that really grinds your gears?
I’ll get the ball rolling…
When you’ve been in a trade for 2 days, patiently waiting for it to reach your TP. You watch and wait, eventually it gets within 5 pips of TP then, Bam!, 50 pip drop in 2 minutes.
Just happened to me now, if I had a dog I would probably have kicked it. Grrr
Depends on the trend and where I think its going. Its tough sitting while it goes against you but that just makes it more satisfying when it comes back again.
Been there many times my friend. That’s why I started to love trailing my stops and/or taking profits early. Which brings me to my biggest challenge and that’s how sentiment changes on a dime, and it changes often. FX is definitely one of the toughest to trade for me because of that. But I’m sure there’s a ton of people out there who love FX for that.
The absolute worst for me is when I have to go somewhere instead of staying and trading. I usually get nervous and force a trade for fear of missing it when I m gone. I still did not manage to get rid of that bad habit, but I already learnt to trade light in such cases.
Even I trade mostly on daily time frame, still I keep looking at lower time frames several times a day and eventually jump on any trade that mostly lead me to loss.
No. Just people who never traded, ordinary people who thinks this is a much easier endeavour. It this was too dam easy why they don’t trade by themselves?
that’s why i don’t set stop losses. i sit and watch the trade and using technical analysis, i try to get the best bet where the direction will take a u-turn, once it’s abotu 10 pips or so close, i take the money i have won already. so i don’t have to deal with this kind of pain.
haha, yes this is also very annoying for a technical trader especially if he is trading on a higher time frame and a good trader of a day or two is wipped of by a bad news report.
My biggest challenge is not taking trades that turn out to be winners. Lots of times I hold back because there’s a big event ahead or because I already have a similar position with another pair.
Right now I’m working on being more confident in my trade ideas and stepping up my trade management skills. Hopefully I’ll get less should-have-been trades over the next few months.
Gurus trying to flog their amazing system - if its as good as they say, why aren’t they drinking champagne on their yacht in the Caribbean instead of trying to hook noobies for $20 a month?
Noobies who’s first post is asking others to tell them how to make money because their too lazy to be a###d to learn it themselves
Really loss annoys me most. We all have good expectations of earning from this market but when it didn’t work out for us, we seem not to be happy. All I am doing now is trying my best to limit losses while I increase my chances of gaining from this market.