Is Forex Profitable?

[sparrow01]

I lost thousands dollars on forex trading in few days

 

[Mr.Canberra]

I lost thousands dollars on forex trading in few days

Sorry to hear about your loss. When it comes to trading make sure you win more than you lose.

No such thing as sure win. Even George Soros can lose millions shorting the market when Trump won. Then he kpkb Trump cannot make it. What a sore loser haha!

Join us at the Forex thread on SSI for light hearted talk cock and punting tips haha!

http://forums.hardwarezone.com.sg/s.../*official*-forex-trading-thread-5511750.html

 

[blurinvestor]

Can you handle the draw down?
Or do you want to be more patient?
3 time frames, most people will go with the Daily time frame.
If you can handle the draw down and have a good stop loss then you can enter now.

Or use a Buy Stop plus Stop Loss and turn off the computer.

Else be patient.

It is not how much you want to win, it is always how much you are willing to lose.

When you don't use stop loss and suffer this massive draw down, never turn around and said USDSGD is for long term investment.

It is amazing that the other forex thread exactly reflects the sentiment of the market. A good thread for you to learn how to eliminate noise and stay focus.

 

[blurinvestor]

"Professionals take a trade when they are comfortable with the risk, while amateurs do it when they like the potential profit." Vadym Graifer and Christopher Schumacher

Careful with those so called punting tips, if you have to depend on tips, then it is better that you don't trade at all.

 

[blurinvestor]

My first trading account is started by money I can afford to lose BUT that does not mean I want to lose a single dollar of it because PRESERVING and GROWING my capital is the very purpose for me to go into trading forex.

 

[blurinvestor]

price doesnt always react to the support and resistence, sometimes u think u r at support, but then u realise theres several other supports / worse it was distribution and all along u thought it was at support and u wrongly assumed it was accumulation...

. . .
now all i learnt is discipline , how to remain calm when the pips goes against you and how to cut loss hahhaa

You have a point there, but PA always pay a visit to where its once stop.

Support and Resistance are different from accumulation/distribution.
Accumulations are easily spot on M15 - M30, whereas S/R are found on the higher time frame D1 - MN. I could be wrong because I am still learning.

 

[blurinvestor]

btw . . .

Not mocking, but please don't treat forex as your ego-extension nor forex as a form of gambling.

 

[lovesleeping1981]

windfall

Thanks for those who voted for Trump.

Does this mean you gained 2000+ pips in this trade????

 

[blurinvestor]

Does this mean you gained 2000+ pips in this trade????

Yes. Took a long holiday after that.

 

[blurinvestor]

Better come back here because I am seriously learning and not a punter.

indicators as the name SUGGEST they indicate. That means they are not signal for me to bet my house.

They are good and bad indicators.
I have to test which are good.
Then I have to test which good indicators will be helpful for the way I trade (System).

If I swing I used my swing indicators.
When the market range I use another set of indicators to scalp.
I have sought out which indicators work for what system.

Again indicators only alert me to pay attention to the chart, ultimately I make the decision.

 

[lovesleeping1981]

Yes. Took a long holiday after that.

Wtf. That's like unreal.

And you exceeded 1 million dollars by trading forex?

 

[blurinvestor]

You don't enter a trade when the juice is gone.
No road map no trade.
No traffic rule don't drive.

Always decide how much you want to lose.

If I am holding on to losing trades and counting unrealised lost -

I will
1 Open all these losing charts
2 Study the price action
3 Understand the path that the price move from my open position

I believe if I put effort to stare at these charts I will learn how market take away my money.
I will implement reverse engineering plan to trade.

And I don't have to stood so low and lost my dignity.

kakkowaroi, or MR C do you agree?

 

[blurinvestor]

With a map, you can make decision in less than a minute.
What decision do I have to make, that is how much you want to give market.

btw not just stood low, also become supper sensitive. Because my raw nerve is melting.

 

[blurinvestor]

This is a daily chart, priice moves into my area of interest.
What should Ii do? Hit the SELL button, idiot.

If I hit the SELL button then I am really idiot.
Let it run above that yellow bar then put my sell limit and stop loss.
What if price turn before I can sell - SO BE IT.

Price might slowly, unknowingly to many (sorry to me because I am learning) is actually going higher then that.

Always ask what have I done wrong that market took away my money.

 

[blurinvestor]

Always ask How did market take away my money?

My girl, over breakfast, gives me this answer -

Because market doesn't use STOP LOSS

She reminded me that market doesn't even know I exist nor bothers by my trades.

 

[blurinvestor]

Amazing this road map still working.

What action must you take if there is a breakout?

No one wants to reveal their closely guided secret.
Hence, I continue to search for the answer.

Maybe, one day I will be like them - Big Boy this, Big Boy that .... Huat ah, heng ah.

Sorry, I am going Bukit Pasoh for lunch. They decided to closed down soon.

 

[tiertime]

Always ask How did market take away my money?

My girl, over breakfast, gives me this answer -

Because market doesn't use STOP LOSS

She reminded me that market doesn't even know I exist nor bothers by my trades.

but i belive the market knows we exist, not individually, but as a whole

i also believe they will track where the majority of the herd put their stop loss and sneakily stop us out

i always remind myself not be be greedy, got a bit profit, just take first

 

[lovesleeping1981]

but i belive the market knows we exist, not individually, but as a whole

i also believe they will track where the majority of the herd put their stop loss and sneakily stop us out

i always remind myself not be be greedy, got a bit profit, just take first

Then we will always be small timers. If we always only take abit of profits.

 

[tiertime]

Then we will always be small timers. If we always only take abit of profits.

small time wins beats waiting long time and may still lose... up to u lah

 

[blurinvestor]

This is a daily chart, priice moves into my area of interest.
What should Ii do? Hit the SELL button, idiot.

If I hit the SELL button then I am really idiot.
Let it run above that yellow bar then put my sell limit and stop loss.
What if price turn before I can sell - SO BE IT.

Price might slowly, unknowingly to many (sorry to me because I am learning) is actually going higher then that.

Always ask what have I done wrong that market took away my money.

That is how I enter this trade -

Identify place of interest.
Let price move up.
Place sell limit and stop loss.
Wait for price to come to me.
I don't chase price neither do I have the skill to catch the top and bottom.
Neither, do I have the expertly to whack price without blinking my eye.

Yes, price might not come down and go straight up.
But a SELL is my bias based on some FA and TA.

I have given enough info here about how I take a trade.
I am not posting yesterday I buy here, I sell there, heng ah got cai png money.

Yes, own self talk own self song cos I am blur.

BUT better talking rubbish to one another.

Trade safe, won't be posting for a long while.