Forex strategies revealed | FSR Forum

Forum transfer: Submitted by goshort on March 16, 2008 - 22:27

I want to say that if people are serious about making money out of tradinh why on earth would you actually start trading with real money if you didn`t have a method which works ?

Losing is not part of the game - yes you will have losing trades - but you will not lose overall if you have a method which works.

To answer the question then, getting wiped out should be an impossibility. If it happens or has happned then you are doing something wrong, you are not serious enough about your trading to find a proven method which works in all market conditions.

Forum transfer: Submitted by petaganayr on January 13, 2009 - 22:16.

I lost approx 100 pips in 3 days and I was devastated. I pulled myself together and gained it back plus 600 pips more. I was happy. Now, I am trying to stay away from the emotions and greed and just focus on trading.

Ryan
"Love makes life special, but without money, you're in deep trouble."

Forum transfer: Submitted by sam on January 25, 2009 - 06:19.

In the face of risk management and leverage I lose eight times in the first two years of my trading career my assets - every month 300$, which I'd put in. It was a very good experience for me trading with real money at outset. I have learned so many over my personality trading, psychological aspects, technical, fundamental, behavioral and economic things,...
Yes it was a delightful time and when I proof new systems I prefer the testing phase making on a practice account or on a real account with absolute values.
Notice:Risk management was one of my neglected topics, which I have really to learn,...,and patience.
Kind regards
sam

During my first year, I started with 15k, on first night Won 4k and then in the next few nights lost 11k

From that point, I stopped and started revising my strategy and promised myself not to lose ever again ...

Losing is perhaps the most valuable experience you gain as it helps you learning.

User wrote:Forum transfer: Submitted by User on October 14, 2007 - 02:13.

Some things can be said about how people think or feel when it comes to Forex. First off, since there so many new people trading currencies everyday, and so many of them are under 35, I get this feeling of childish competition, with phrases like: "I havent lost once since...", "I have never blown an account". The paradigm in which the questions arises, has nothing to do with Forex or Trading. In fact not loosing can be counted as one of your bigger weakneses. Is it that bad to blow 4 1000$ accounts if that leads to learn how to make 300% per year in your 10.000$ account? Is it bad having to lose 20 pips seven times in a row if that teaches how to make 200 pips in a week?

So you see, things tend to be relative, like our beloved market, or our fellow traders.

I agree..sure i have had some losses, some little, some really big..but i'm glad that everyone of them happened. Having these losses inspired me to read more, test more, and improve or change the system i was using. The losses put a much needed spotlight on the pitfalls of different strategies. Justin

i've been in this bizniz for nearly 9 years, march2001... i remember i was in the office for a night shift when 9/11 tragedy happened, i started as dealing staff, picking phone calls from clients (online trading wasnt this famous as today)

most of my experience spent in dealing department ...i made my move as price-maker, my duty is to give quotes (still that old outcry trading way)

from there i saw people making money,loosing money...i can feel greed,anxiety,fear (you name it,i saw them all!!)

2006 i started to learn...basically everything that crossed my mind that days was guess work ...
i can feel the market...the tone, but there was no 'compass' for me---i don't have anything i can rely on
crazy thing is...i gave trading advise for two clients in my company(something contrary to the company policy) somehow they listen to me...i didnt 'kill' their account (i can't claim myself to be succesful,but i'm not that stupid either)

2007, i read and learn tons and tons of useful material (forex related ofcoz)... i start to gain more confidence regarding my trading skill
end of 2007...i trade all by myself, time to test everything
my first account was totalling $6000... i didnt trade forex, i play something more lunatics...stock index futures( a place where everything seems very psychological....perfect picture of greed and fear)
my first trade was...sell 1 lot of hangseng index, in just about 10 minutes...price rocketting above by 260points (i loss about $1300)...leaving me speechless, where have all my confidence gone? i can't think, can't eat, can't do anything right after that
i even think about stop trading for the rest of my life

it was end of the year,market was closed for holiday...giving me time to recover mentally, i pushed my self to learn again...make my trading checklist(a set of rules/what i have to do before entering market)

i switched to kospi (less volatile than hangseng)...thanks to steve nison's candlestick literature, it helps me regained some of my equity and stay much longer in the arena

after about 3months of equity ups and down... i decided to gave up ( i loss about 55% percent of my initial margin)
thats the story from my very first trading account, which is unfortunately...not a forex account (but the psychological aspect remain exactly the same)

from there, my trading journey continue...studying evertyhing is the dominant part of it

till now, i never really blew my account....never experienced 10 or 20% automatic cut...yes i experienced a drawdown ofcoz, now i trade with confidence...counting on knowledge and skill(thanks a billion thanks to this website...edward revy and his team for their genuine kindness,something very uncommon in this selfist/egocentric world)

10% growth is my initial target
all these keeps me alive in this endless battle call forex

one key is...i dont trade very often....i pick only the best situation ( i'm a big fan of 123setups,divergence,most of my trade based on breakout while the rest is indicator based and pattern recognition system)

i'm afraid to loose the trade, call me coward if you want to (i swear i won't be angry )

hope my story will make a positive impact on all of you my fellow traders(thanks..i learn a lot from u too)

happy trading!! let there be fun for everyone!!

-rockrobb of jkt-

I did it a couple of times. Don't worry, I on my podcast I interview successful traders including some who have been pro pit traders. To this day, I have only met one trader who has not blown up his/her account.

In my first podcast, I tell the story of how I lost EVERYTHING on my very first trade. Tune in and check it out. It will make you feel better!

Right Click the link below and Save AS to download podcast!

Code: Select all

http://media.libsyn.com/media/rkassulker/sosTraders_Episode_001.mp3

All of us once began our first step to become what we are today. We gain experiences through our triumphs and mistakes. We do lose at least once in our life which makes us sharper in our decision making skills.

I just started trading live a month ago. Everything that i have read was to set your money management correctly. So i set my stop loss to 2% of my account, so if i lose, i only lose that percent. This lets me be successful with only winning 60-70 percent of the time. So far i am up about 400 pips.