Giving up on Forex. Any last chance advise?

[davidjohny]

Hey MAN do not lose hope.

You first need a good forex learning course.

They offer a very good forex learning course like BIg Dogs and banks.

Forex course LINK: http://www..com/Smart_Forex_Details.php



Plus check the .com financial reports its FREE !

Long Term: http://www..com/Financial_Report_2006.pdf

Short Term: http://www..com/Financial_Report_Final_FEB_2006.pdf



They also offer forex managed accounts too.

There are many options out there but do not lose your hope.

Cheers !!!

best wishes,
David johny

[WNW]

First of all, don't kick yourself. A lot of folks (like ME), jump in and throw a lot of money at things that they hope will work, but do not. This seems to be part of the learning curve. Second, for the time being, consider trading to be just a HOBBY (paper trading!). This takes all the stress off. If you can turn your hobby into income down the road, great, but don't worry about it. Third - and this is a big one - it's your (our, my) own psychology that keeps us from succeeding. Get on the internet and see if you can find a copy of Rob Booker's "My Fairy God Trader". Otherwise, Google Rob Booker - he frequents these forums and offers a lot of FREE useful advice for those of us who are stuck. You may also subscribe to his services / ebooks which is inexpensive. Then move on over to spreadtrade2win.com/forum and check out the FX Wizard strategy. It is simple and free. The nice folks over there are very supportive. You don't have to give up - it's a hobby, you paper trade, you practice, you learn. That's all you need to work on for the time being. The guys who really trade will say the system stuff is simple, you don't need a complex system, it's all in discipline / money management. Trading is worth sticking with, if you give up you'll never know if you could be one of the 10-Percenters! Hope this helps.

[Mazoem]

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.

Guys,

This thread was started 2 years ago. The original poster fxtrader01 said the above back 0n 10-11-04.

Let this thread die.

[Askjo]

Originally Posted by fxtrader01

I have been trading forex for more than 6 months now. My capital was borrowed money. As a novice, I didn't want to make mistakes. So I spent money on 4x Made easy software, Alert services, Charts, datafeed etc. Nothing really worked. Then started trading based on my own instints. That was a disaster. Now I am left with the last 1K.

I promised my wife to at least recover the initital capital and repay the loan. I am holding on to the last 1K left with me. If I loose this remaining capital, that is the end of my trading career. I don't think I can trade my own anymore. I need a simple system that would make a few pips gain every week/month. Can anyone suggest any system/platform/indicator/software that would help to achieve my goal?. I am not greedy, just want to recover the money lost.

Awaiting for the last chance advises from the experienced.

You realized that FX trading is not easy to make money because of too risk to lose your money. Please ask yourself on 4 questions:

1. How long did you use a demo trading BEFORE you start your "live" account on FX trading? 1 month? 6 months? 1 year? 3 years?

2. How long did you study on FX trading BEFORE you start "Live" account on FX trading? 1 month? 6 months? 1 year? 3 years?

3. How much did you practice with FX trading BEFORE you start your "live" account on trading? Rarely? Sometimes? Often? Always?

4. How much did you familiarize with FX trading BEFORE you start your "live" account on trading? 80% success? 80% failure?

Please keep in mind that "demo" trading and "real" trading are not same because "real" trading means "real" money for loss or profit.

[ForexJuice]

Don't give up. I'd stop trading the live account, and start learning how to read the charts yourself. 1 indicator is no indication. Learn as much as you can, and only get into/outof a trade when 2 or more indicators agree. - this works for me.

Stay away from 'systems' and learn the technical analysis. Candlesticks, Pivots, Support/Resistance/Moving averages and how they relate to the chart.

Stick to a couple of currency pairs and get a feel for them.

DON't GIVE UP (but go back to the demo account.)

[davidjohny]

I got +220 pips in british pound with the help of this report

Short Term: http://www..com/Financial_Report_Final_FEB_2006.pdf

There are also many wonderfull websites related to forex signals and trading.

Just search it via google..

Cheers,
DAVE

[NaysayerTrader]

Originally Posted by Mazoem

Guys,

This thread was started 2 years ago. The original poster fxtrader01 said the above back 0n 10-11-04.

Let this thread die.

This type of thread is Universal and applies to many people who wanted to make such a thread, but are to shy to do so. So, though it might have been posted a long time ago, it is still a very relevant subject today as there is always somebody looking for a reason to get out of the business - each and every day of the week.

This type of thread should be made a sticky, so people can come and see that it is possible to trade the Forex consistently, if one knows what they are doing. It really is not all that difficult - it just takes some serious study, research and time spent learning the business.

This type of thread will never be out of vogue and thus its spirit will never die as long as there are those willing to quit the business.

[Aleph]

Originally Posted by Mazoem

Guys,

This thread was started 2 years ago. The original poster fxtrader01 said the above back 0n 10-11-04.

Let this thread die.

I really wonder how he's doing today.... still trading? still reading? ?)