MoneyTec Traders Community Forum - View Single Post - Giving up on Forex. Any last chance advise?

foroz · 02-11-2004, 18:30

FxTrader

The journey in forex isn't the one you may have been "sold" attending a seminar where the objective of the presenters was to sell you software whereas your objective was to make money trading the forex market. Their objective was achieved immediately you paid your money.

I am not aware whether you have any government consumer groups in your country that make companies accountable for the products they sell. If you do, it might be worth talking to them about your software purchase. A search on moneytec will take you to many comments on the company who sold you the software.

Where to from here you ask? Trading with "frightened money" will not work in my opinion and will scar you for any trading you might return to in the future. Keep the $1000 and pay that off the loan.....that will make it an easier to get the amount paid back.

I am surprised that a company would advance loaned monies for you to trade the forex market in which you have no prior trading experience, but that aside, the money needs to be re-paid. Then you need to save money for your to be able to trade some time in the future......words that have been written by others in this thread.

Find a few systems on moneytec that appeal to you and then trade only them on paper. Over time you will find one that "fits you" and allows for trading outside your normal working hours.
It takes time and patience. I believe the greatest challenge in forex is learning about yourself..........the learning about what happens in the your head when you are trading or about to trade.

I belong to a local self help group of forex traders who have given each other great support. I am sure this group is why many of us are still in the market today. You may want to see if there are people near where you live who have a similar interest. If not, there is always the informative threads here on moneytec.

I think you need 30 postings on moneytec before you can PM.

Best wishes

FxSurfer

I am intrigued that you can recommend that someone to learn Peter Bain's method and then tell them to not use the pivot points which are the very basis of the method. Maybe on a new thread you can tell us about trading the Peter Bain method without pivot points.

Regards

02-11-2004, 18:30	#15
foroz level 3 Join Date: Aug 2004 Posts: 331 Downloads: 0 Uploads: 0 Rep Power: 0	FxTrader The journey in forex isn't the one you may have been "sold" attending a seminar where the objective of the presenters was to sell you software whereas your objective was to make money trading the forex market. Their objective was achieved immediately you paid your money. I am not aware whether you have any government consumer groups in your country that make companies accountable for the products they sell. If you do, it might be worth talking to them about your software purchase. A search on moneytec will take you to many comments on the company who sold you the software. Where to from here you ask? Trading with "frightened money" will not work in my opinion and will scar you for any trading you might return to in the future. Keep the $1000 and pay that off the loan.....that will make it an easier to get the amount paid back. I am surprised that a company would advance loaned monies for you to trade the forex market in which you have no prior trading experience, but that aside, the money needs to be re-paid. Then you need to save money for your to be able to trade some time in the future......words that have been written by others in this thread. Find a few systems on moneytec that appeal to you and then trade only them on paper. Over time you will find one that "fits you" and allows for trading outside your normal working hours. It takes time and patience. I believe the greatest challenge in forex is learning about yourself..........the learning about what happens in the your head when you are trading or about to trade. I belong to a local self help group of forex traders who have given each other great support. I am sure this group is why many of us are still in the market today. You may want to see if there are people near where you live who have a similar interest. If not, there is always the informative threads here on moneytec. I think you need 30 postings on moneytec before you can PM. Best wishes FxSurfer I am intrigued that you can recommend that someone to learn Peter Bain's method and then tell them to not use the pivot points which are the very basis of the method. Maybe on a new thread you can tell us about trading the Peter Bain method without pivot points. Regards