Forex Trading

[sunlight]

anyone trades in Forex?? do u do it full time or part time? can share experience??

[Throttle]

so many threads on this topic.....

 

but probably only a handful of really knowledgeable ones.

 

do a search , dude

[sunlight]

did a dearch and realised that i posted in one of the threads. Thanks.

 

Yeah u are right... there seem to be few experienced traders here. I think MCF have a bit more

[Throttle]

did a dearch and realised that i posted in one of the threads. Thanks.

 

Yeah u are right... there seem to be few experienced traders here. I think MCF have a bit more

 

but MCF got more bullshitters too....hahaha

[tch225]

i am interested in forex trading too...

[sunlight]

i am interested in forex trading too...

Can share experience? I just blew my capital last week, 2k in less than 1 week.

[lutein]

How could you have blown 2K in one week? What leverage you use? What timeframe were you trading in? Which currencies? BTW Christmas time better take a break because of low volume.

[sunlight]

GREED......I took big risk. When eurusd drop, i take away stop loss hoping for reversal. then it drop n drop.......

[Throttle]

tuition fees lah no problem...

 

try again...

 

soon you will know that it's one big casino, haha

[Throttle]

How could you have blown 2K in one week? What leverage you use? What timeframe were you trading in? Which currencies? BTW Christmas time better take a break because of low volume.

 

why not?

 

$2k easily won or lost in 2 mins, surely you would know

[lutein]

For someone who sounds like he's a beginner (pls pardon me if I'm wrong) he sure exhibits an inflated confidence and presumably lack of money management.

 

If I'm a beginner (which I am), I would never risk $2,000 in a single trade.

 

If I am an experienced trader, I would adhere to my trading principles with discipline.

 

You should have just let the trade stopped out. It means the set-up was not correct to begin with. Anyway the fundamentals are now against EUR unless you're talking about intraday timeframe.

[Throttle]

Size of trade doesnt tell whether a person is beginner or otherwise.

Size of risk appetite nor size of losses neither, haha.

 

A beginner is just someone who thinks he can simply jump in and easily, consistently and in multiples, make money from the FX market.

Edited December 27, 2010 by Throttle

[sunlight]

why not?

 

$2k easily won or lost in 2 mins, surely you would know

 

the reason why i trade with $$ i can afford to lose

Not happy about it, but life goes on....

[sunlight]

For someone who sounds like he's a beginner (pls pardon me if I'm wrong) he sure exhibits an inflated confidence and presumably lack of money management.

 

If I'm a beginner (which I am), I would never risk $2,000 in a single trade.

 

If I am an experienced trader, I would adhere to my trading principles with discipline.

 

You should have just let the trade stopped out. It means the set-up was not correct to begin with. Anyway the fundamentals are now against EUR unless you're talking about intraday timeframe.

 

I was doing ok with very small lots of 0.02. Then became greedy and decided to try 0.4 lot. When that became a losing trade, i took away the stop loss hoping for reversal. Then i lose my capital.

 

Basically me no discipline

[Throttle]

the reason why i trade with $$ i can afford to lose

Not happy about it, but life goes on....

 

good good.

[Throttle]

I was doing ok with very small lots of 0.02. Then became greedy and decided to try 0.4 lot. When that became a losing trade, i took away the stop loss hoping for reversal. Then i lose my capital.

 

Basically me no discipline

 

No discipline, then just treat it like a game at casino.

It's ok.

[sunlight]

hahaha a lesson that cost 2k.....same as those forex course. But the lesson learnt is about myself.

[joekia]

I was doing ok with very small lots of 0.02. Then became greedy and decided to try 0.4 lot. When that became a losing trade, i took away the stop loss hoping for reversal. Then i lose my capital.

 

Basically me no discipline

 

 

 

Greed is good.. That's the problem with most of us. We're always hopeful for a reversal..

[sunlight]

Greed is good.. That's the problem with most of us. We're always hopeful for a reversal..

U trade forex also?? can share experience??

[Throttle]

i share with you since you asked.

 

If your base is small, treat it as a game at the casino, dont feel too bad, becos at the end you WILL lose it all.

 

When i was trading FX spots/forwards and exotic options more seriously in 2005 and 2006, my base was about $200k.

At the end of it all i was lucky to get away making only $30k++ after sleepless nites of sharp losses and elated days of huge profits

at any one time, I held total open positions of up to USD1mil.

It took too much of my time and energy and i couldnt afford it becos i had a day job wiping tables at suntec foodcourt.

so i decided to stop. it was not worth it.

 

I wont go back to it for the same reason.

The market is too frenzy and erratic, such that, throwing a coin could produce the same results.

Thats why i liken it to a casino. this including the feelings involved. haha

 

for every successful professional "trader", there are thousands of unsuccessful ones.

 

If you think you can turn this into a livelihood, think again.

dont be fooled by people who claim to be successful selling you ideas on being successful.

Dont be fooled by people who claim they can teach you to make money in the market.

If they can they wouldnt be teaching.

 

My advice is simply treat it as a learning experience or a game.

dont play with money you cant afford to lose.

and quit when you are ahead. I did. hahah

[barefoot]

just to ask . . . anyone who play forex really understand reading all different charts? i talked to some people in hardwarezone, it seems that some people simply trade using guts feeling . . . i wonder if they are faking or talking cock, its quite crazy . . .

 

right now i look at my charts in candlesticks, using macds, bollinger bands and moving averages to aid me out for spotting of trends. on demo account, profit of 2 grand initially but lost it all + 7k due to random buy and "instinct", now doing scalping method, profit of 600ish. im hoping to learn and aim to gain like 15-20 pips per trade

[Throttle]

tech analysis is only small part of the big picture.

Even if you are a master, doesnt mean you will make money

 

to me , it's more to understand market psychology and behaviours.

becos it's base on a self fulfilling theory.

 

and please try with real money. demo account = no count.

 

good luck

[sunlight]

just to ask . . . anyone who play forex really understand reading all different charts? i talked to some people in hardwarezone, it seems that some people simply trade using guts feeling . . . i wonder if they are faking or talking cock, its quite crazy . . .

 

right now i look at my charts in candlesticks, using macds, bollinger bands and moving averages to aid me out for spotting of trends. on demo account, profit of 2 grand initially but lost it all + 7k due to random buy and "instinct", now doing scalping method, profit of 600ish. im hoping to learn and aim to gain like 15-20 pips per trade

 

trading with demo acct does not have the emotion factor. trade with real $$$ and there are times where logicand common sense gets thrown out the window.......

[sunlight]

i share with you since you asked.

 

If your base is small, treat it as a game at the casino, dont feel too bad, becos at the end you WILL lose it all.

 

When i was trading FX spots/forwards and exotic options more seriously in 2005 and 2006, my base was about $200k.

At the end of it all i was lucky to get away making only $30k++ after sleepless nites of sharp losses and elated days of huge profits

at any one time, I held total open positions of up to USD1mil.

It took too much of my time and energy and i couldnt afford it becos i had a day job wiping tables at suntec foodcourt.

so i decided to stop. it was not worth it.

 

I wont go back to it for the same reason.

The market is too frenzy and erratic, such that, throwing a coin could produce the same results.

Thats why i liken it to a casino. this including the feelings involved. haha

 

for every successful professional "trader", there are thousands of unsuccessful ones.

 

If you think you can turn this into a livelihood, think again.

dont be fooled by people who claim to be successful selling you ideas on being successful.

Dont be fooled by people who claim they can teach you to make money in the market.

If they can they wouldnt be teaching.

 

My advice is simply treat it as a learning experience or a game.

dont play with money you cant afford to lose.

and quit when you are ahead. I did. hahah

 

Thanks. very appreciate