Should I Keep Trading? Help/Advise need

Discussion in 'Forex' started by athan00, Nov 2, 2011.

  1. dealmaker

    dealmaker

    athan00


    Registered: Apr 2009
    Posts: 26


    11-02-11 04:11 PM

    Hi everyone!

    I m trading forex for about 4 years now and I m not sure if I should quit forex trading or if there is a point on continue trying. I m stuck. I m trying to pass to the other side but I just can't!
    All these years I ve studied SO many books/videos/webinars etc... Seriously I do not know what else to do. Everything, all the educational material out there are for newbies.
    Lately I started studying Sam Seiden Supply & Demand technique that seems really interesting and working as well. But needs lot of study (as everything of course) and practice.
    But is there a point of keep learning new stuff? It s like a never ending story.
    Could anyone tell me a way out of this? I mean how should I continue? I m in a dead end and ready to quit forex but I ve really spent too much effort and hours.
    And also is it possible to live on forex or is it just a dream?

    Any advises / ideas are really welcome.

    Athan





    You can make a living trading, stick with it, study, read books and eventually you'll succeed. Once your psychology changes then, you
    will ascend from an investor to a trader......
     
    #51     Nov 23, 2011
  2. ybfjax

    ybfjax

    The main flaw in attempting to read other books/people to validate your own truth is that you assume that what they tell you is true. You don't know if what someone tells you comes from their integrity or is just a story that they made up. Emotional hype, fake account statements, or revealing only winning situations can really skew your perception. The blind leading the blind, and both fall in the ditch.

    I think part of the reason it takes so long is that you eventually realize that you have to trust yourself. The process of un-learning is what most people are avoiding, because the structure of their existing knowledge makes them feel safe. What's true is not mystical or require grand philosophical concepts. It is right in front of us, and everyone who wishes for it has ready access to it. The irony of it is that there is only two directions the next market price can go, yet somehow we can become hooked into the thousands of opinions as to where the next price is going.

    Find out what's true first (primary), then you can be whatever you want (secondary). I think practicing systems approaches to removing delusion such as "The Four Agreements" and "Spiritual Autolysis" will help in this regard.
     
    #52     Dec 3, 2011
  3. pipgirl00

    pipgirl00

    Have you considered using some type of Signaling Software ?
    You would be notified when to enter and exit your trades.
     
    #53     Dec 6, 2011
  4. ybfjax

    ybfjax

    At the fundamental level, you must still figure out what is true first.

    If it is a book or teacher, then you should be able to look over the person's shoulder and get direct experience/examples that matches up the paper method with examples. This is very easy to accomplish with screen conferencing software, skype, etc.

    If it is signal software/robot, then you must understand exactly how the mechanics of it work, including the inputs. Otherwise, you are going to end up more confused/frustrated when the mystical signals do not work as expected.

    Nobody in their right mind would get behind a wheel, or travel in an airplane and hope to "get lucky" their destination. Why would it be any different when it comes to trading?
     
    #54     Dec 6, 2011
  5. sanfo

    sanfo

    Many traders lose in the market and end their forex trading career. mostly because they are lacking in either a knowledge of the markets or themselves.
    They are unable to develop their own viable trading strategy.

    Actually many traders who had spent several years trading in the market, however never took the time to learn any basic.

    Successful trading need a commitment over a long time so that you can grow from a novice to professional. this can not be made within months and there is no shortcuts at all.

    Fundamental analysis is very important, good traders can make appropriate expectation for the earning and follow the trends.
     
    #55     Dec 8, 2011
  6. pipgirl00,

    First of all...welcome to ET.

    May I remind you that posting signal software links (even with free trials) is not permitted here in ET. I watch for spam 24/7. Naturally if you have some particular service in mind please tell them to contact Baron for advertising opportunities.

    http://www.elitetrader.com/co/

    I just recently had to moderate one of your attempts to spam ET and consider that your one and only free pass.

    If I have mis-understood, then please forgive me.

    Please enjoy ET and let it be all it can be for you and your trading...Good Trading to You.

    ES

     
    #56     Dec 13, 2011
  7. fxturtle

    fxturtle

    Trading is not for everyone same as scalping and short-term trading is not for everyone. My suggestion to you is to trade in longer time frames. In trading longer time frames, it will test your ability to control your emotions, especifically PATIENCE. It will also minimize over-trading/revenge trading, which usually results to wiping out your account very soon.

    Pull out a daily chart and put some indicators on it and analyze profitable entry and exit points. Target for a maximum of 20 trades per year. Remember, you CANNOT BE RIGHT all of the time. However, even if you are right less than half of the time, but make a lot of pips when you're right, it makes trading profitable.

    Happy Holidays!!!
     
    #57     Dec 20, 2011