Give up on Forex

[bobnat]

Originally Posted by jcool123

Bobnut

We all know that losing while trading is normal. As far as we follow good money management we will be ok. But that article is for someone who is starting not for "Pros" like you others. It is normal for someone who is starting to revenge the market once he has lost he will try to make silly mistakes by forcing the trade. I believe that writer is using that fact adding it to his article. I hope it makes sense.

Take care

No it makes no sense whatsoever. There is absolutely no sense to teach a beginner a technique that is wrong that will have to be changed if the student is to be successful.

Yes it is common for people to want revenge but teaching them that the reason they shouldn't do it is because they made a mistake when they lost a trade is just outright stupid irresponsible. If you want to circumvent revenge trading there are effective ways to do so. Lying to elf about the nature of the activity is not one of them.

Nat

[00009]

[quote=manchestertran]but after that central bank buy USDso i lost ton of money....

QUOTE]

Thank you for your money.

[jrinvestors]

Watchdaride mentioned something worth thinking about it is something I had to do the other day. I was not on a losing streak but on a roller coaster ride. I started march positive then went negative was positive again. So I decided to take a couple of days off.
I was wering besides Saturday perhaps Sundays does anyone take regularly days off during the week to like decompress? It doesn't have to be after a losing streak it could be after a couple of wks or mos of trading.
Would be nice to hear your input. As for me I have been going like the Eveready bunny so those 2 days help a little bit. Unfortunately I found myself at the begining of the week going negative to finish positive again.
Welcome to the f called the currency market

[SoundFX]

Wish I could take days off but I go nuts if I miss out on the markets during the week. Its my passion even while taking a literal vacation I am always wondering what the markets are up to. Not saying that I'm a great trader(because I'm not...yet) but I think great traders have an immensely difficult time divorcing themselves the market. They wonder about the markets ALL the time. That's why great traders are what they are. They are obsessed it drives them to greatness just like in any field of endeavour. Properly channeled obsession leads to greatness because that's where your focus is.


-S

[Kingtrader]

Either farmboy or fxjourney said this once I always pull it out of a hat when entering a trade:

"I look for every possible reason not to enter the trade before I pull the trigger"

Cheers

KT

[ezekiel]

Originally Posted by Dr. Zogg

The secret is not to predict for_ex especially news events.

First you have to predict the data then the market's reaction to the data. That's just not possible.

Rather find a way to react to whatever is happening. Every single succesful tra_der I know follows that one simple rule. Don't predict don't anticipate...react...

Hi Dr. Zogg

I agree no one can predict what the market will do but for me there is a fine line for planning different scenarios to what the market could do.

I personally dont trade the news but try to anticipate have a plan at certain key levels in the market to go short/long depending how the market takes the news. It keeps me jumping in on emotion... you may not agree but this has helped me.

Ezekiel

[jrinvestors]

SOUNDFX
I have the same passion you have for the market. While people are complaining about Monday coming up I am looking forward to it. (Sunday nights are kind of slow).
I was just wering if there were some traders that would take time off regularly how it affect them.
even with the passion i have about the market i'm finding out that taking some time off or lighten up your position to a point where is almost irrelevant really helps to releif the tension. I just started doing that a couple of wks ago so I do not know the effect is going to have on my trading results.
So far this month I am profitable after 2 mos of losing. I feel it is helping me psychologically hopefully will turn into more bigger profits.

[DannyB]

One year is not very long to have been trading - it takes alot of time to master this craft so don't give up too early.....

__________________
Dan
www.TradersLog.com