Giving up on Forex. Any last chance advise?

[Viking548]

Originally posted by MickMason


Hi forex777, how did you get on with Beau Diamond?

Pardon my ignorance, who is Beau Diamond?

[autofx]

Can anyone suggest any system/platform/indicator/software that would help to achieve my goal?

I believe this troubled trader has misidentified his problem.
Looks like his mindset/worldview/psychology is faulty.

It would be interesting to stand over this person's shoulder
as he trades. I think we would see fear, impatience, greed,
self-defeatism -- the whole package.

[foroz]

Viking548

Do a Community Search found at the top of the page if you want to read further things that have obviously been commented on before on moneytec threads. There's a wealth of information that can be found there. Just type in Beau Diamond.

Beau Diamond runs a signal service, though initially you thought you were buying a book with a complete method only to find when you received it, that it was an on-going signal sevice. He has now changed his web site to state this.

I see that you are a new contributor to the forum. Welcome.


Regards

[PittsburghFX]

You are trying to scramble your money around, just like an egg. You were headed for distaster before you even started.

You traded money that you cannot afford to lose. You spent thousands of dollars on a product without knowing the market you were trading in the first place.

I do not mean to beat you, but please hear me out. Stop trading and stop searching. You blew up. Accept this and move on.

If you keep chasing the dream you will end up in more misery than you ever have imagined.

Dude, I worked for FXCM and RefcoFX. I was a guy on the other end of the phone. I would talk market with you and give you my 2 cents worth. I have seens thousands of people just like you in my professional life of trading and working for brokerages.

Please just stop. Just walk away and stop trading. Do not let it eat at you as it does everyone else. I have seen people obessed with making it back so bad they resorted to unethical and illegal activities. Your wife will be happy with long term mutual funds. She is more imnportant and family is more important than making it back. Do not let this shake you forever.

[PittsburghFX]

Originally posted by Viking548
I am assuming (pardon me if I am incorrect) you learned of the Forex on some TV commercial and then went to a one hour presentation. At the end of the seminar they offered you a wonderful, make an extra $70K a year software program for the low price of $3995.00. I went to the same seminar.

Rather than throw down the Visa, I decided to do some serious investigation first. Read three books. Looked around the internet. Finally I found a company, the largest in the world, that you can open an account with for a low minimum price. No monthly fees, trades from 3 to 7 pips, dependant upon pair chosen. Live chat 24/7 with actual people. Great help. It's FXCM.com. Your final $1000.00 can open a mini-account.

I started with a demo-account for the first month. With a free $50K, a few daring newbie trades but came out ahead after two weeks making $13,849.00. I lost about $1105.00 total combined. I had the system figured out.

Then I opened my mini-account ($1.00 per pip up and down). Did well in the first weeks averaging about $300 a week scalping. Extra spending cash.

Well then after chatting I learned about the News feature. Started reading the news and mixing that with Tech-analysis. I have $191 remaining in my account. I blame it on the USD/JPY, but the bottom line is it came down to GREED. I got Greedy. So for now I have suspended my trading, until I forget about the NEWS feature.

I recommend FXCM to anyone who is interested in learning and working with the largest company with offices around the globe.

Hang in there. I will.

The funny thing is above my monitor I have a huge poster that is supposed to remind me that indeed:




GREED KILLS!!!!

With respect, you traded a demo in the beginning. The actual values do not mean anything as the pressure of trading large sizes are also not existant. Scalping for a few hundred a week. That is great, but odds are you are on the rader for scalping and will be shutdown in 2 months. Be careful. Pickers are not liked and they are watched like hawks.

I am glad you liked FXCM, I miss those colleagues. But I have them on MSN so I still stay in touch.

[fxtrader01]

Hi All,

I think I got more than I expected and is enough now. Thanks for all the comments and remarks. Thanks to all who tried to help me and those tried to warn me with my "directionless" trading. Some comments from the big brothers were humiliating, but I accept the fact that the intentions were good. Let'close this thread. Once again, thanks to all.

Happy trading to all.

[firedave]

Originally posted by fxtrader01
Hi All,

I think I got more than I expected and is enough now. Thanks for all the comments and remarks. Thanks to all who tried to help me and those tried to warn me with my "directionless" trading. Some comments from the big brothers were humiliating, but I accept the fact that the intentions were good. Let'close this thread. Once again, thanks to all.

Happy trading to all.

So, do you find the comment usefull or useless ? Any conclusion yet ? Hope all the best

[carrotguy]

Originally posted by PittsburghFX
Scalping for a few hundred a week. That is great, but odds are you are on the rader for scalping and will be shutdown in 2 months. Be careful. Pickers are not liked and they are watched like hawks.

I've read your post in another thread about scalpers taking up liquidity.... What distinguishes scalping from risk management/taking profit? The duration of the trade or the decision to take profit after a gain of <20 or so PIPs?

Would trading mini-lots affect the decision to watch for scalping as well?

Furthermore, you mention getting shutdown... is this put on manual execution or do they close your account?

Thanks.