Is my problem a common one?

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Re: Is my problem a common one?

Postby paul cruza » Thu Aug 23, 2012 3:50 am

ivanlim wrote:Hi guys. When i first started trading forex,i lost some money. I then thought that it's quite common for newbies to lose money. A few months later,i managed to earn small profits,and that made me thought that i was out of the newbies club,of losing and blowing up accounts. However,recently,i started gaining back my old form of losing,and i'm at my all time low of $40,000 on my practice account. I started with the account of $50,0000,and 6 months later (now),i've lost $10,000. May i know if there is something wrong with me?

Sorry if i sound kinda funny. I'm just very confused


exactly, most of ppl who lose money in this market dont believe that forex is real business,
i think it's for them just Gambling ,
money management is the main reason to be in this market for long time

here's some great advice for you

1. don't OVERTRADE
2. don't Trading With Too Many Time Frame
3. don't Trade In Hurry
4. be patience
5. don't Trading Without A Stoploss
6. don't REVENGE TRADING 8)
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Re: Is my problem a common one?

Postby SamuraiTrader » Fri Sep 07, 2012 1:23 am

ivanlim wrote:Ok,probably i'll try out some other systems. Thanks :)


Be careful of this. Quite possibly the most common and most destructive rookie mistake is system hopping. They try something new, do all right for a while, then panic as soon as things start to go poorly. Then they jump out and go to a new system only to repeat the process. So basically time after time they are getting out of systems that often will be profitable long term but at the worst possible time - at their low point.

It's the same as a single trade. New traders usually exit before their original plan for a moderate loss because they can't handle the emotional pain of drawdown only to see the trade end up in profit without them. Rinse, repeat, blow out account.

I'm not saying you can't go to a new system or further refine your methods. Of course at times your increased experience or market conditions will demand you do. But be very wary of the nefarious games your own mind plays when it comes to trading that tend to get you to move on right at the worst possible time.
Samurai Forex Trading - Home of The Elite Range Bar System
www.samuraiforextrading.com
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Re: Is my problem a common one?

Postby visualxray » Fri Sep 07, 2012 4:17 am

Plus of course new or inexperienced traders tend to become attracted to overly complex, inefficient strategies or approaches.
They also incorrectly assume that scalping type approaches are the way to go, when in fact they are the most dangerous types of activity they could possibly imagine.
Couple that with a bargain basement mentality, where they think that by risking a couple hundred dollars to "test out" a system or strategy will give them live psychologic experience, & you have a recipe for complete disaster.

Little wonder the failure rates in the retial sector are so alarmingly high.
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Re: Is my problem a common one?

Postby Moreno » Mon Jan 26, 2015 11:39 am

Forex trading is difficult for us to predict that we need to have a good MM and RM. you should be able to take into account properly, the maximum possibility of loss of funds. if it has reached the limit, you need to do cutloss. and you should always use the SL and TP thus greater risks can be minimized with good
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Re: Is my problem a common one?

Postby ddeeen » Fri May 29, 2015 11:07 am

paul cruza wrote:
ivanlim wrote:Hi guys. When i first started trading forex,i lost some money. I then thought that it's quite common for newbies to lose money. A few months later,i managed to earn small profits,and that made me thought that i was out of the newbies club,of losing and blowing up accounts. However,recently,i started gaining back my old form of losing,and i'm at my all time low of $40,000 on my practice account. I started with the account of $50,0000,and 6 months later (now),i've lost $10,000. May i know if there is something wrong with me?

Sorry if i sound kinda funny. I'm just very confused


exactly, most of ppl who lose money in this market dont believe that forex is real business,
i think it's for them just Gambling ,
money management is the main reason to be in this market for long time

here's some great advice for you

1. don't OVERTRADE
2. don't Trading With Too Many Time Frame
3. don't Trade In Hurry
4. be patience
5. don't Trading Without A Stoploss
6. don't REVENGE TRADING 8)


Really nice and great suggestion sir. I'm totally agree with your advices.
Point 3 and 4 is must be controlled first,its very crucial factors. For me, i'm not trade everyday, i just looking for good moment only, because market is not our friend. Its work great in my trade in Liteforex, Mayzus and some others.
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Re: Is my problem a common one?

Postby kevin43 » Wed Jul 01, 2015 1:21 pm

ivanlim wrote:Hi guys. When i first started trading forex,i lost some money. I then thought that it's quite common for newbies to lose money. A few months later,i managed to earn small profits,and that made me thought that i was out of the newbies club,of losing and blowing up accounts. However,recently,i started gaining back my old form of losing,and i'm at my all time low of $40,000 on my practice account. I started with the account of $50,0000,and 6 months later (now),i've lost $10,000. May i know if there is something wrong with me?

Sorry if i sound kinda funny. I'm just very confused



Probably the issue is in your money management (setting SL, lot size, TP, etc.) Try to visit webinar of Hotforex devoted to money management..
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