Giving up on Forex. Any last chance advise?

[Trader01]

Originally Posted by fxtrader01

Now I am left with the last 1K.

I promised my wife to at least recover the initital capital and repay the loan.


Awaiting for the last chance advises from the experienced.

The odds of you recovering the money you lost are even poorer than Mick Mason dating the woman in his avatar.

Get a job and consider the remaining $1,000 as your first paycheck.

Spend the next 2 years on demo, borrow as much as you can on this demo; there is no limit. Spend some of this borrowed demo money money on a new suit.

After 2 years pay back the entire loan with proceeds from your demo winnings.

[MickMason]

Originally Posted by pipbull

I'm curious why you think this is. Although this is my first post, i do have enough experience to know that this is true only if you treat trading as gambling. Usually the people who fail at trading beleive it is like gambling. I assure you, done properly, it is the exact opposite from gambling. Successful traders operate like the casinos, capitilizing on their edges. Unsuccessful traders operate like the players of a casino, very often self-destructing for reasons beyond their limited view of the marketplace.

Leran to think in probabilities and realize that trading is not about being right or wrong on any individual trade. It is about staying consistent and survive long enough to give your edge enough time to play itself out

One of the very few intelligent posts around here!

Gamblers gamble, traders trade, the market is what you make of it.


Mick

[MickMason]

Originally Posted by Trader01

The odds of you recovering the money you lost are even poorer than Mick Mason dating the woman in his avatar.

LOL!

D'ya mean Hot Lizzy, she's a sex kitten I'm tellin ya! And that thing she does with the Corgis......phew!


Mick

[metal]

Originally Posted by MickMason

One of the very few intelligent posts around here!

Gamblers gamble, traders trade, the market is what you make of it.


Mick

Gamblers gamble, traders gamble too. The market is nothing more than a brokers' casino.

[MickMason]

Originally Posted by metal

Gamblers gamble, traders gamble too. The market is nothing more than a brokers' casino.

You obviously fail to make the distinction between gambling and trading, try reading pipbull's post a few (dozen) times



Mick

[Trader01]

Originally Posted by metal

Gamblers gamble, traders gamble too. The market is nothing more than a brokers' casino.

Gambling traders will lose in any market, not just in the Forex game. Actually they lose in life too.

But what about the disciplined, dedicated trader? ... the one who takes this business seriously, sees its potential, knows his weaponry well and most importantly, knows when to have the courage to take an occasional big swing -- while keeping his flanks covered -- for such a person or persons, Forex is the "casino's" worst nightmare.

[metal]

Originally Posted by Trader01

Gambling traders will lose in any market, not just in the Forex game. Actually they lose in life too.

But what about the disciplined, dedicated trader? ... the one who takes this business seriously, sees its potential, knows his weaponry well and most importantly, knows when to have the courage to take an occasional big swing -- while keeping his flanks covered -- for such a person or persons, Forex is the "casino's" worst nightmare.

Forex is gambling so anyone trading in forex will lose sooner or later. Discipline and dedication has nothing to do with forex/gambling. You will end up being a loser no matter how well you know forex unless you are a broker or work for a broker.
Stay away from forex. Dont give your hard earned money to some broker.

[metal]

Originally Posted by MickMason

You obviously fail to make the distinction between gambling and trading, try reading pipbull's post a few (dozen) times



Mick

I dont have to read anyone's posts. There is no difference between forex and gambling. Both have an unpredictable outcome. Remember the old Shakespear addage about the name and the rose.