What annoys you most in Forex

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

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waiting is torturing. do you trade short or long ?

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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.

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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.

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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.

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Even I trade mostly on daily time frame, still I keep looking at lower time frames several times a day :frowning: and eventually jump on any trade that mostly lead me to loss.

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What bothers me the most is the people outside who never did right click and open an order, telling me or advising me what to do.

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Are they the same people selling “get rich quick with our great forex system”?

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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?

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The single thing I hate the most in forex is when my perfectly thought out trades turn out to be losers :slight_smile:

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technical analysis torn to shreds by economic news - not good

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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.

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The simple fact that there is no right and no wrong.

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Sit and watch the trade? you must have no hair left haha

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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.

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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.

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Thought of a couple more…

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

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Waiting…

I used to trade like a hamster on speed…

Now I target one or two pairs, always the same ones,

with a clear bias, and wait, and wait, and wait for the

right entry after pullbacks in a trend…

Plenty of false starts, so you can get caught out…

Better to lose 70 pips out of a possible 200-300 pip

move, say, than jumping in too early on a false move

because of impatience.

But the waiting will be worth it…

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It is true that patience is a virtue. That is why in Forex we must be patient, wait for the right momment, but dont freeze either.

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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.

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