Has Forex Sucked you into a Deep Back pit?? - page 3
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Here I sit so depressed near the closet with a rope in my hand just thinking about ending it all. I have sacrificed my life and health for the past 3 and a half years trading forex. Every single thing which used to work and had worked for years no longer works. All the profits and money I've ever made over the years has been lost, and I have not been able to accomplish just so much as even one single goal for anything in life which i worked so hard for and came so close to!! The higher timeframes no longer give you a clear understanding of which way the market is moving in the long run from a day to day basis. Everything has changed drastically and overnight within the last year and a half as a result of the things going on in our economy. There are a lot of things going on in our government the public is not aware of. I expect that the dollar will become 100% valueless by the end of 2009 as part of the governments plans for the mass take over. Along with it there will be many disasters I believe. And I do not want to be around to see it or have to suffer any more then I have already. I am left sick week burned out and in very poor health, yet forced to get a part time job which doesn't even pay enough to pay bills and buy basic food and healthcare products to take care of my failing health.
Here is one of my favorite posts - https://www.mql5.com/en/forum/177212. Work out where you are at, and start again on a demo account. Double it, then double it again. Only then play with real money.
BTW. @pava great scalping
I am using hidden SL...I get out off the trade when I feel like it based on intuition...sometimes when I feel market will move further into my direction I use trailing stop...yes there is always risk involved in everything we do:)...(statistically there is much less risk and much more probability to win if you are playing for 3 pips with 8 lots...instead of say 30pips with one lot)...
Yes, I also hide my SL in my EA. Don't want my broker to know :P
pava
can you teach us - how to trade GBP/JPY ?
will you avoid -- avoid totally -- in USA trading hour (i.e. won't enter it at all, unless are holding a profitable transaction - and waiting to close it)
because in US trading hour, if the trend changed ang against you, there is NO TURNING back -- esp with your strategy !
it got 10 pips TP and just got about 5 pip spread
you can either show us live chart with DATESTAMP -- GMT time pls
or
tell us when to trend and buy / sell at which reasonable price range
I think scalping this pair should be profitable , except in NYC trading hours
oooh, that is what hidden SL means
not epxlicitly set it up -- as SL / PT
( but then it means that 4 transactions is not human possible [manual], the human can only START the program, let the computer catch the exact moment to ENTER and to EXIT)
by the way, double it and double it, theoretically, it sounds good, like 500USD , you may 4X it, make it 2000
then trade for real
when it become 4000, then you take 2000 away , to avoid broker notice it
but in reality, double it and double it, it would take long long long time -- so , is it practical ??
can we ride on somone experience, and break out bad habit ??
-- or after we notice a TELL TALE (tell the future sign) in our indicator, could we ask someone to assess the CERTAINTY and RISK of that
(as I notice some of my belief , got different ranking of risk among all the signs, after I practice it , and get it wrong )
Jimer, we have not seen a post from you at all. Hope you are ok. God be with you if you are not.
Child: "Mommy, it hurts when I trade forex!" Mom:"then don't trade forex dear"
Jimer, I also hope you are well. If Forex trading makes you feel this way, there are many other ways to earn your bread. My advise - pizza delivery. Pays you money every night, and most nights dinner is on the house
You won't get rich, but you won't go hungry either.
I don't post much in these forums, except to say this - trading is like anything else, it takes awhile to learn, to acquire the proper mindset. You are training yourself to think differently than most people. I don't know about doubling a practice account twice. I think real money trading requires a higher level of belief in one's abilities. And Forex offers us the ability to trade very small with real money, using microlots. One day, you might find yourself trading 8 lots like Pava. But you start small.
So my advice is, find a system that fits your style and demo it for 6-12 months. But after that, go live with it with a stake that you can afford to lose. If you do lose it, it is tuition. If you don't then perhaps you are ready to trade just a little bit larger. Keep doing this for several years, and you should find yourself in a good place. Also, if you are comfortable with your style and with taking what the market has to give, you will eventually design your own trading "system", because you'll find its easier to stick to the rules.
Cheers
To this day, this is my favourite forex thread that I have ever read, merely cause I am sure a lot of us can relate to this.
I really feel for you man. I feel exactly the same. "If only Forex was a matter of time spent" lol quote myself there too unfortunately.
It is like the next breakthrough is just one step away. If I go any further, I am going to start a group called "Forex Annonymous - 12 step program"! - where we can all drink coffee and talk about our losses, whether in pips or time spent, but like the AA guys do...
ah I was unable to edit my last post, but yeah I loose in time spent myself, not pips. The payoff does not justify the timespent though, hoping that changes next breakthrough lol... else I will start a Forex Annonymous for sure.