Giving up on Forex. Any last chance advise?

[Heywood U. Cudd]

Originally Posted by MickMason

Give up if you want to, there's no need to feel like you failed (I get that impression from your post), hundreds of thousands of people lose in this market every day, very few make any money, at least you tried your best. Give yourself some credit, you've been trading for a very short time with limited funds, some wouldn't last 6 months! You've recognised things aren't going well and that's a start, some lose a lot of money but keep on topping up their account and think they're doing well.

Answer me a couple of questions (by PM if you prefer not to answer here)

What session(s) do you trade?
How much capital do you have left to trade with?
Have you traded any market before?
Do you have another source of income while you learn and become profitable?

I've an idea that might appeal to you, it might not....

Mick

What are you talking about by this statement?

I've an idea that might appeal to you, it might not....

Regards,

Brian

[davidjohny]

Hello.

That time also came at me when I thought just quit Forex Trading but I am lucky I must say so far.

I am currenlty using www..com Catch 201 signall and they works fine with me so far.

I am using it 4 free as I have an account at FXCM.

I know many people simply do not like FXCM but I think its good for small
account holders like me.


best wishes,
Dave

[proedge_joe]

Or check out the free chatroom here on moneytec.

[ajhardesty]

Originally Posted by jasperforex

You shouldn't trade with borrowed money. So, pay off the loan, save some money and during this time study in the evenings about fx. Then come back with some saved set aside money and try again.

LISTEN TO THAT ADVICE!

You made the biggest mistake of all--speculating with borrowed money. You shouldn't be messing with forex unless you already have a secure investment/savings program in place.

Get out now! Attempting to pay off that loan by playing Forex is a recipe for disaster. And it won't help you marriage much either.

[7thSignalTrader]

Originally Posted by fxtrader01

I have been trading forex for more than 6 months now......

That's all I needed to read. You are ready to give up after six months. I've been at this business for 6 years and sometimes I still find it difficult.

It is going to take you a lot longer than 6 months to get a good feel for what your niche is supposed to be in this business. Mine is the use of hard-core research that gives birth to technology that helps me trade better. Yours could be different, but you cannot give up until you have given yourself time to explore all the viable options.

Come take a look at what I am doing in the trade journal. I'll be discussing four (4) of the most important things that you should know as a trader in the general section as well.

Inspiration is sometimes the very thing that we need to gather the fuel necessary to push further. Giving up solves no problems and only fuels a defeated mental attitude. You can trade this market, if you develop the skills necessary and build the tools required for consistent success.

Cheers!

[mrbrint]

All these people talking about how forex is a gambling. Ill agree it is and as far as speculation goes its among the riskiest around. Is it meant for everyone no, but on the same token may people call me a gambler, why because I invest in stocks and thats dangerous. You can call me a "gambler" all you want and I accept that in fact I would even embrace it because tho I may be taking gamblings my results speak for themselves. If you can hack it get outta the game.

[peacetrader]

Hello:
I had taken many different seminars and courses when I first started trading. It led me to a lot of confusion and I was not successful trading until I came across the Sychronicity Forex Trading webinar offered by Fx Education.org

Scott the instuctor there made trading understandable and has a sytem which is very profitable and enjoyable. He offers the course for a very reasonable price. I wish that I had found this system before I spend the thousands of dollars I spent of going to countless seminars, and lossing more dollars then I care to admit in losing trades. Check this out before you give up. here is a link to the site http://www.fxeducation.org/webinars



Happy Trading
Jon Peterson

[cmunit]

Try another approach. Everybody will, from time to time, get hit hard when trading forex / currency pairs. Also, you should place a value / price on your time contributed to learning how to trade forex.

An old rule that I learned when my trading skills became less than acceptable, ( i.e., terrible ), during the early 80s when I first traded currencies was that after you decide to open a long or short postion, simple do the opposite. Another words if you are dead set on opening a long position simply do the oposite...open a short postion. Try this in a demo account...It may work for you. However, be very very very cautious using this approach as numbers are being released.

Yes, I was a trader when ( 1982 / 1983 / 1984 ) the pound fell against the USDollar from 2.00 to 1.00 then reversed. Big Big Move. Check the charts.

Try some of the following:
www.fxcm.com.

www.gftforex.com.

www..

www.saxo.com.

Try some managed forex services.

Cheers,

CMUNIT: Currency Management Unit.