Coulda, shoulda, woulda..... a losing game.
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thread: Coulda, shoulda, woulda..... a losing game.

  1. #1
    Junior Member Noemi2704's Avatar
    19

    Coulda, shoulda, woulda..... a losing game.

    Maybe first and final journal entry forex.

    This is a summary of my dismal performance trading Currency Market markets. I am hoping that by posting this I will get within the markets and proceed.
    Also to publicly expose this dismal performance as a wake up call for me personally.
    Some self-employed therapy if you will.
    And it could help newbies learn from a true example of what can happen if you lack patience, discipline and the ability to stick to a plan or have a plan. Even though you might have alot of devotion, which I surely do not lack.

    I began out demoing late last year for 3mths with amazing results (see below). This gave me the confidence to start a live account with a minimum quantity of money (2000) as advised. Nevertheless, the market generated nothing but headaches for me. My original trading account has gone within the last 6 mths plus the few hundred extra dollars I put on top to cover losses.
    The market has taken over my entire life. It is all I think about. I spend all of my available time working on it, watching it and wanting to trade it profitably.

    But whether there was not enough capital or time or anything, I would always simply miss the ship and things have gradually but definitely deteriorated.
    My original demo egy (the one that produced heaps of money) didn't operate in the actual market.
    So afterward I was jumping from 1 egy to another on a weekly basis, because the egies weren't producing the required outcomes.

    I already knew that this was not the right thing to do. I already knew all of the mistakes that I was making and why I was making them. . Even before I left them.... Because I'd spent so much time exploring and learning about Currency Market. But theory and practice are separated from the chasm of experience.

    I must acknowledge, however, that some of the most promising egies seem to be here on the factory. However, by the time I'd found this forum, I think that it might have been too late (story of my life) because my confidence and my account were at a critical degree....

    21/09/2006

    Well I just got my third margin call in 6mths (the second in 2 weeks ), thankfully its accepted my account below $50 so now I can not trade till I have learnt to trade correctly - whatever that means. If I withdraw that money now, it will cost me 50 percent to get the money out, not worth it.

    It only seemed to make sense that if you consistently traded a demo account from 50,000 to 4 million in 30 days (sometimes less), for 3 mths running, that you may have a small probability of acheiving at a somewhat profitable outcome in the actual market.

    Certainly not the case. I've obviously not demo-ed for long . However, what is the purpose of demoing in case the true market produces different outcomes. And 2000% a week return isn't good enough to begin!!!
    You can never know this unless you trade the true market. But by then you're trapped with a crap egy or method which doesn't work, so you want to test a thousand other crap egies to compensate, but you'll run out of money before you find the best one, because there is not one.

    Why on earth was retail Currency Market brokering offered in the first place. From what I've been reading, brokers do not bother hedging opposing places with their clients because they know that the customer will lose, because the clients do not know how to trade correctly. And nobody is going to let their clients know how to trade correctly. Happily, as advised, I've only used a very tiny amount of my money with this crazy endeavour.

    Perhaps I'll come back after 10 decades of demoing and we may see afterward. Perhaps I will not waste another moment of my precious life doing something which, if you fail, leaves you with absolutely nothing to show for your efforts. At least when I was a failed artist, I would have some crappy art functions to hang around the house.

    Maybe I'm not dumb enough to trade the markets. Maybe its best if little guys stay from the markets entirely.

    I will attain a much greater return on my capital by leaving it at a savings account than I could trading the markets. The market provides you a guaranteed minus (-)100% return on capital within the first 3 minutes versus a guaranteed 6% p/a by a bank. That means that after a few minutes you'll be roughly 100% before the market. Wow, no retail Currency Market broker sales pitch mentions that fact.

    I've persisted with the market simply to give it a chance that perhaps things will improve, but they only got worse.

    I tested different egies, obtained more information (how much do you need - is not the golden rule that'price = information'.) Finally it was impatience to recuperate from losses.... That were allowed to grow too big.... Because I would sit there like a stunned rabbit in the headlights, hoping for the transaction to turn.... And trading fearful by taking off small (but potentially large) profits because the market was going back the other way, but only breifly, that has caused the most severe damage.

    I shouldn't have bothered however, because the market will not provide you with a opportunity.
    The tiniest of mistakes gets penalised greatly. Even in the event that you make the right call on a transaction, your implementation has to be precise.
    There is really no point in starting a trade because there's a 100% probability that it will instantly turn . This will always be the case.

    's golden rule You will always lose in the market, always.

    Even luck is not a factor. Even in the event that you win, you've still lost, because you'll get overconfident and drop tomorrow.

    Whatever I saw was the most obvious method for the market to proceed, it'd go the other way, and then when I tried to apply reverse plogy to that egy (the most plausible decision )... it still went the other way.

    There it is. No way that anyone can ever win in the market.

    I challenged you to prove me wrong.

    If anybody on this forum wants to trade my live account for half or even more (negotiable) of their profits to prove me wrong, you can contact me at. The results could be printed in this journal.

    Here I go again... a Currency Market junky searching for another fix...

  2. #2
    Junior Member oxrayjo7315's Avatar
    16
    This may not be the market for you or becoming a trader may not be your calling. I really do appreciate your input which demo trading is quite potentially an unreliable method of creating a egy.

    Either quit or retest your egy with minimicrolots, er nanolots. If your problem is an dependence kind issue.... quit. If is Currency Market, quit. This market has arbitrary benefits which may lead to gambling kind addiction problems. Fantastic luck.

  3. #3
    Junior Member grandejoder's Avatar
    9
    This thread and I agree. Forex is an ilusion, you think you will be rich someday, that's the trap. Money isn't a thing that is magical.

  4. #4
    Member ina99's Avatar
    98
    I think the point is created here. Some of us are not cut out to exchange FOREX. But, as this is a FOREX Forum, this seems to be counter productive...
    I'd like to just close this thread, but in fairness I will move it to egorized and you will commiserate there...

    Scott

    Moderator

  5. #5
    First off you have the wrong mindset for trading.

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    Second if your trading scared money you will never win

    lt;ogt; lt;/ogt;

    Third every successful trader out there's reduction that I can guarantee you that as learned by those losses.

    Lt;ogt; lt;/ogt;

    investing in a demo account is nothing more than going into the shower and jerking off once if your spouse is putting in bed cause no matter how much you say”I'm going to treat like real money” you will never accomplish this. You let that one ride once you'd of got outside, then you let another 1 run w/ a larger stop cause you had a gut feeling. Then may you have lucky on payroll caught 50 pips in a whim. . The next thing you know is in the end of the month you some how skip seem all that and state”DAMM I need to be the ideal trader on the market...” lol

    lt;ogt; lt;/ogt;

    Open a micro-mini find something which works for you stick to the rules keep journal of each trade w/ why you have in and you have out so you may go back and see what you've done wrong and make adjustment from that point.

    lt;ogt; lt;/ogt;

    lt;ogt; lt;/ogt;

    turbo

  6. #6
    I totally agree with this particular thread. Forex is a ilusion, you think you'll be rich someday, that is the trap. Unfornutaly, money is not a thing that is magic.
    No the ilusion is most people think their going to turn to the pc boot it up for 20min create 50 to 100 regular and retire in a few month.

    Trading is no more diffrent than anything else in life you've got to work hard to achive fantastic results... Many sucfull trader I understand trading 1mil commerce 12 to 20 hours each day. What makes Tiger so very good at golf its not induce that he black since he spend more time practicing than anybody else out their.

    I'll invest in it most self-trader are out there trading on notebook at the corner of their eye with free data... hmm I wonder why large firm and trader are spending money on mutiple screens and data.

    It like trying to build a home w/ out a hammer and saw... Permit wake up and smell the coffe... Can I beleave in with broker to deal with my money no cuase at the end of the day just your self as your very best intrest in mind.


    turbo

    keep it real

  7. #7
    Heck... if you don't find the potential within this market. Then it's just not for you. Try even or mutual funds ETFs.

    I began like you did, but only thing I did different after losing my first 1000 is switching over to Oanda to perform smaller with micro lots. Take your 25 dollar and deposit it into Oanda. Keep gaining experience and live to fight another day.

    _nit

  8. #8
    Hi ffwuc,

    I actually enjoyed reading your diatribe, and identify with every word you wrote. My fellow FX club associates have been through what you talked about. Except - we're not as good as you were in demo trading. You seemed brilliant. How can you account for the huge discrepancy between your presentation trading outcomes and your live trading results?

    Thanks for the honesty.

  9. #9
    Take a look in here https://www.cliqforex.com/trading-sy...m-warning.html

    Switch to micro lots, have a strict 1% max risk egy, and stick with your stop losses come what might.

    There is another part of the website to assist, particularly if you choose micro lots and exchange longer-term charts.

    Https://www.cliqforex.com/trading-sy...ading-sma.html

    Stick with us, we'll try and get you there.

    Peter

  10. #10
    Junior Member leuoxsrod's Avatar
    8
    We can hear that you are right down but YOU can change this.

    It ai not over till it is over or you haven't lost till you stop. Get a micro account, trade paper with real world numbers like $2000 to begin not $50,000.

    I understand you can achieve this. One can tell by the way you write that you are an inteligent, thoughtfull person. ( Or you might be putting us on).

    One more suggestion and then it's in your own hands. Receive a copy of Mark Douglas's Trading in THe Zone. Pay special attention.

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