. . .get yourself - cash will follow - how easily we undermine ourselves if we do not believe we deserve it.
. . .get yourself - cash will follow - how easily we undermine ourselves if we do not believe we deserve it.
I really enjoy this guy a lot. The very best things he said is,'maybe I'm not dumb enough' to trade successfully. You are onto something , my buddy. My advice would be to stop. I think successful traders are born, not made. What does the discepancy between your demo and real accounts inform you?
Its not you man its market right now.
Failer is only that if approved as the last result. . .otherwise its mearly a speedbump on the long hard road to success.
Dave
If anyone is under the belief that this is some sort of get rich quick scheme - I have news for you, this is more like a get broke quick egy.
You will need to use yourself, egize, understand money management and much more... Why is it that when performing your PhD you'll gladly use time and effort ahead of your finals, but if it comes to Foreign Exchange we seek instant gratifiion.
I took my $120 to $1000 within 1 month. The main reason I lost later is becuase is determined to digress from the egy. I traded after each day, took 10 pips and grew my lot dimensions as my capital grew - all went well. It becomes too easy to earn money, we become greedy, reckless and then it becomes everybody elses fault (including the market) except mine.
I assembled - and still continue to a wealth of knowledge on this particular forum. Now I am well on my way to achievement since I had to teach myself (not compel myself) to become disciplined in my trading egy - it is no more a hobby or part-time job, but my livelihood! The added bonus is that I have become more edued in my daily life.
So, be honest with yourself, do some soul searching and know your purpose - achievement will come, be it in Foreign Exchange or some other selected livelihood. We can not all be doctors, we can not all be fx traders.
Trading FX is a get rich quick scheme. If you're good, you will get rich fast, if not you will go bankrupt, try again, browse all of the stuff everywhere.... But when you get rich, it's faster than any body imagines.
This is what annoys me off. My account (starting $2800) was down as low as $100 (quite recently) and today stands at $786. Its had its ups and downs but never, and I repeat never, have I given up and asked somebody else to do my job for me. With the support of money-talks fundamentals diary, efexs diary on direction (which I suggest that the read) along with also a modifiion of his egy and, of course, bobz's technicals reenforcing my wave thoughts, I have begun to turn this ship around.
When I could do so, you are able to. I really don't do positive reenforcement ffwuc. . .mostly I'm a kick'em while there down kinda guy . . .myself included. But some people today have to be kicked. . .and the above quote deserved it.
Get reading, receive humble, get individual, get over it and you will receive it back... and more.
Maybe you should focus more on learning to save and less time on supplying advice. This is some of the rubbish you have taken the opportunity to compose. You had the courage to admit you awakened, I will give you that.
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lt;TABLE cellSpacing=0 cellPadding=6 width=100% border=0gt;lt;TBODYgt;lt;TRgt;lt;TD class=alt2 style=BORDER-RIGHT: 1px inset; BORDER-TOP: 1px inset; BORDER-LEFT: 1px inset; BORDER-BOTTOM: 1px insetgt;Originally Posted by jamie12
Good point. R:r ratio is among these things made to make people eliminate money.
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lt;TABLE cellSpacing=0 cellPadding=6 width=100% border=0gt;lt;TBODYgt;lt;TRgt;lt;TD class=alt2 style=BORDER-RIGHT: 1px inset; BORDER-TOP: 1px inset; BORDER-LEFT: 1px inset; BORDER-BOTTOM: 1px insetgt;Originally Posted by jamie12
How much you win or lose is undoubtedly the least important thing in trading. What matters is how much you really win/lose and how often. Rratios on individual transactions imply nothing.
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lt;TABLE cellSpacing=0 cellPadding=6 width=100% border=0gt;lt;TBODYgt;lt;TRgt;lt;TD class=alt2 style=BORDER-RIGHT: 1px inset; BORDER-TOP: 1px inset; BORDER-LEFT: 1px inset; BORDER-BOTTOM: 1px insetgt;Originally Posted by jamie12
I don't know why folks set up to win only a small percent of the time. You can always risk 3 to win 1 and be profitable. Every one says'oh, you have to win 80 percent of their time' or something like that. My response is,'so?' .
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lt;TABLE cellSpacing=0 cellPadding=6 width=100% border=0gt;lt;TBODYgt;lt;TRgt;lt;TD class=alt2 style=BORDER-RIGHT: 1px inset; BORDER-TOP: 1px inset; BORDER-LEFT: 1px inset; BORDER-BOTTOM: 1px insetgt;Originally Posted by jamie12
I am not going to insult your intelligence by exaplining the fundamentals of probability, but you're wrong. This isn't an opnion, it's a mathematical fact. If you are able to win 1 80 percent of the time and shed 30 20 percent of the time, you'll be hugely successful. Sure, if you've got one loss you've got to then win three occasions to break even, which is where you're getting stuck.
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I dont' think we ought to hide someone who has the courage to admit they lost their account. Truth is, it has happened to almost everyone on the forum. You would be performing a service by letting others view what happens when you don't take this seriously. Banishing them into the corner merely feeds the hype that anyone can succeed. There's an unpleasant side to Forex trading and it needs to be discussed.
When a broker scews you you are welcome to post but if you screw yourself over the thread is closed?
Diallist wrote:
I have seen this kind of thinking on many different trading message boards. It's popular with new traders because it gives them hope that profitability is easy to achieve and just round the corner. I hate to throw cold water on the optimistic newbies here but investing is a really competitive business. I have also seen the many threads that say something like, I have been searching for a great system for the past 3 years and haven't found anything that works. Please Assist!
How can you reconcile these two disparate viewpoints?
My very own editorial on the issue is that there might be a number of very good systems available at no cost on the market, but great in this circumstance does not equal profitable. The majority of the so-called fantastic systems require that extra special something else to make it profitable. If you join HoppingLizard v1.7 with some thing else you come up with a profitable system. However, this begs the question, if HoppingLizard is in reality such a fantastic system, then why must it be combined with anything? Simply program its principles into an EA, and you will have your response as to how great a particular system is. It should stand by itself and make a favorable expectancy on its own if it's great in my book. Systems that have a negative expectancy are rubbish in my novel - which applies to the majority of the systems posted on this and other trading sites.
The other thing that's often implied is plogy. When I had more subject then I would be profitable. Or when I had less fear or greed, I would be profitable. There are lots of mental gurus that have popped up in the trading world who spoon feed traders exactly what they wish to hear. Allow me to provide you with a simple fix for the huge majority of your trading emotional problems. It is a profitable mechanical trading system. The crucial phrase is mechanical. If you can set up your system to auto trade for you then it's even better. If you design your system and are familiar with how it transactions and performs, many of the perceived discipline/plogy issues evaporate, and you are be able to concentrate your attention on what is really lacking with respect to system functionality. You still need area to sit on your hands and allow your system to exchange the market even when it does stupid things that you would never do if you were trading the account .