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  1. #11
    fxguy is offline Junior Member
    Join Date
    Nov 2008
    Posts
    3

    Lightbulb LOSING is part of trading

    dont give up now. I have been listening to some live webinars recently as I am also trying to learn to win, but what experts keeps saying is that LOSING is part of trading. If you think carefully, its like a paradox. You dont start trading with losing in mind. But experts seem to do just exactly that. Maybe it is only in retrospect, they can say like this.

    But anyways, dont give up now. Do your homework. Also, pick the right broker, by looking at their capital and plan your trade, and trade your plan! Go find webinars, i suggest ibtimes.com/forex/webinars.

    Good trading,

  2. #12
    stevenzed is offline Junior Member
    Join Date
    Dec 2008
    Posts
    2

    Unhappy I know how you feel

    I had similar issues.
    I lost about 7 out of 10 trades in the past. I tried many things.
    Trading the news, scalping etc….

    Then I figured out a few rules:
    Don’t use too small stop losses, like 10-20 points. You will get stopped out for sure.
    Use longer time frames, like 1 or 4 hours, not 1 or 5 minutes…..
    Try to stay disciplined.

    The issue for me was that using longer time frames trading was a bit boring, so I always wanted to trade when I was watching the market.

    I am currently using an expert to stay disciplined which trades on 4 hours time frame and trades 2-3 times a week. Since then I don’t have to sit at the front of the computer, it is not an issue that it only trades 2-3 times a week.

    I’d like to say that I am so clever that I wrote the expert myself, but not. I ended up actually paying for one (after trying out many free versions) www.forex-ai.com
    This expert (They call it Forex-Ai AutoTrader) seems to be one of the better ones. I am using it for about 2.5 month so far and made 130% . It is unfortunate however that I used it with demo account for the first two month and only in the last 2 weeks it is making actual money for me so I am not up 130% , but hopeful.

    Happy trading!

    Steven

  3. #13
    fffx is offline Member
    Join Date
    Nov 2008
    Posts
    49

    Default

    Go to www.babypips.com/school/ and make sure you graduate from the school of pipsology. That would be the best forex education you'll ever get.











  4. #14
    jeffkwan is offline Junior Member
    Join Date
    Nov 2007
    Posts
    7

    Default forex assist

    I understand your trading problem. The most important is to create your own strategy & discipline frankly to create/invent a strategy is a tough job do believe that in forex market their is no luck happen but only technical skill it consist of capital control, stop loss, profit taking, open position & discipline, I can share my experience with you & you can email me tlkwan65@yahoo.com

  5. #15
    matthowen is offline Junior Member
    Join Date
    Jan 2009
    Posts
    3

    Cool I feel the same

    Quote Originally Posted by fxFailure View Post
    Hey -

    This looks like a forum full of people up to speed, but I'm a n00b with some questions. I don't wanna bug people who have better things to do, everyone posting here appears to have a good handle on this market - so if you guys would rather me go learn somewhere else and return when I have something to contribute, I'm cool with that.

    I'll leave some of my fundamental questions here though, and if anyone has time to give me some pointers I would much appreciate it.

    Carry trades - I understand the concept of leveraging interest rates of different currencies against each other, but I do not understand where this interest gets realized - how it is paid out in other words. I read on fxstreet that the interest is paid daily, however - I don't believe I've held a position open long enough on my demo account to ever see if this interest magically appears in my account at the open or closing of business - or - if the demo account considers carry trades at all.

    Which leads me to my second major issue:

    I'm losing on ~9 out of 10 trades. I'm finding that I'm correctly assuming the overall direction that a currency is going to go in about 7 out of 9 of those losers, but that my trailing stops are closing out positions before the position makes it to profitabilty. So I tripled the size of my trailing stop, to account for the volatility, but then I've run into the currency not moving enough to make any respectable money before volatility ultimately closes out the position again. In other words, I set my trailing stop at 10 pips, the position changes in a favorable direction by 5 pips, then goes unfavorable by 10, and I lose to the tune of 5 pips - and then the currency moves favorably by 40 pips before I can get another order in... but I'm sure most of you guys are familiar with this sort of thing. I thought trailing stops were a great idea, but they don't seem to be worthwhile in this market.

    I have read Ed Ponsi's book "Patterns and Probabilities" on interpreting chart data, and planning a trading strategy based on trend indicators among other factors, and would like to place a couple longer term trades to ride some trends and see if my predictive abilites really work, or if I'm just experiencing coincidences. Or maybe someone with more experience could tell me if this market is experiencing more fluctuations due to the global situation, or if it's always like this? I can definitely see the potential in this market (I've had 2 winners of $1300), but would like to be reasonably sure that my attempts to trade in it have a realistic chance of success - to date, I think my successes have been 100% attributable to luck, and not any correct assessment of how the market works.

    I also read "The complete idiots guide to forex", but that's only a good book if you want to know what forex is. It is zero help when it comes to developing a trade strategy.

    Thanks for any assistance, and good luck with your trading.
    Hello, My name is Matthew Owen, I'm also a newbie to this community. I feel the same as you, I mean, a little lost to this business, but that's normal because we are beginners. So, I can't give so much imformation related to the specific topic, but I can suggest you reading articles, visit some links, etc, and maybe this will help you. (I hope the same for me) hahaha. Good luck!

  6. #16
    amymt is offline Junior Member
    Join Date
    Jan 2009
    Posts
    3

    Default

    Hello people. I'm new here, I just wanted to say Hi, My name's Amy. The information that I've founded here looks good for me, the only problem is that there are lots of articles ... I'll need lots of free time for reading them all. Nice to meet you.

  7. #17
    smartbusns is offline Junior Member
    Join Date
    Jan 2009
    Posts
    3

    Default

    hI, I'm Arianne M. I'm new, I don't have experience, and I don't understand this business so much. ANY help? Thanks a lot, greetings.

  8. #18
    JelleVDB is offline Junior Member
    Join Date
    Jan 2009
    Posts
    3

    Default

    Just ask what you need to know

  9. #19
    jsawvel is offline Junior Member
    Join Date
    Jan 2009
    Posts
    11

    Default Suggestion, learn as much as you can...

    My suggestion is to learn as much as you can and get started with a demo account as soon as possible. Read some books and scan the forums for threads that you can learn something from.

  10. #20
    jsawvel is offline Junior Member
    Join Date
    Jan 2009
    Posts
    11

    Default Suggestion, learn as much as you can...

    My suggestion is to learn as much as you can and get started with a demo account as soon as possible. Read some books and scan the forums for threads that you can learn something from.

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