Quiting forex after one year

[uppernet]

i only started trading fx 2 months ago ... i am using real mini fxcm platform ..... i am still trading stocks options ..... i am trying to learn forex trading now next i will try emini ........ i dont think i will quit forex trading but i am sure i will not trade a regular account with fxcm ... i will just have fun playing a few mini contract using sclaling system to see if i can win against brokerage manipulation at fxcm ....... i am opening an accout with tradestation may trade my regular fx account futures there ... i hope tradestation will be more dependable...i need to test it yet...

[elmagd2000]

Doragio

If we are talking about common investors or traders
IMHO Fx market is considered the most difficult tradable market for:

- 24 hours non-stop market which is impossible to be followed by normal trader. divided into 3 sessions each one has its commer who has its own visions policies.

- Unavailabilty of total market volume or flow studies like other markets.

- Unavailbility of ONE governing authority.
- largest daily turnover attarct enormus big dogs who usually play on the account of small investors.

This is MHO others may have other reasons.

Hani

[elmagd2000]

Uppernet

Interested to hear about KJO'Brien's performance TS.

[socrates]

Hi

This is my story. You may want to get out the wet-wipes.

I started trading retail forex just short of 3 years ago with over $2000-00 worth of training behind me.
I funded my initial account with $5500-00 USD.

My conscience was clear of concept so I turned my account into a tidy profit enough to brag about.
I must make it clear that there was nothing wrong with my training but the psyche side of the training was not touched.

But then the gremlins of the trading underworld leaped into my account I soon learnt that rom trading in a rom outcome did not work.
My account diminished I refunded it not that I had to but my own psyche demed it.

Again I began to turn around my account grew as well as my ego.
But the previous lesson came back to haunt me.
Just as I was getting to the stage of withdrawing funds reality struck with a nasty blow.

A trader cannot pick choose trades within a solid system.
By a solid system I mean if this plus that multiplied by the square root of this thingamagig equals abc then go with the answer until proven wrong.

In that instance I failed. I began to look for excuses not to trade then after a loss would take any trade that came along just to be able to trade.

Well to cut a long story short I depleted my account to a point where I almost could not trade further.

Some time ago I overcame the odds again became successful to the extent whereby I now feel good about my trading.
I will now go a week without trading if the odds do not favour my style. Seldom though but it has happened. Sometimes it is 3 a week or 2 or none. But at least I know that in the last (how long) I have had only good trades.

My point though is not so much my trading as much as how to trade.
So next time you feel like giving up trading remember that rom outcomes can produce a consistent result as long as you stick to a reasonable system with good MM take each trade as it comes along.
Forget about the Ferrari next week think more about the food next week.

[uppernet]

nice piece ... deep wisdom ..... you are correct ......

[MickMason]

Originally posted by socrates


...as long as you stick to a reasonable system with good MM take each trade as it comes along.

Absolutely!

Nice post

Mick