My Story, Need Advice
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Thread: My Story, Need Advice

  1. #1
    Hi,

    I'm new here and I'd like to discuss my story. I began forex trading on demo as part of my school course at the end of last year. The competition was over and I came but my trading did not end there. In all honesty, I got addicted to it. I had been doing demo until the end of March when I had been quite profitable.

    I understand it was too soon to spend but I could not resist. I was greedy and I spent $1000. I can't sleep when the market is available and I'm infront of my computer as much as possible.

    After trading live for seven days, I lost some and gained a few but in the end, my equity is $950 so I lost $50. I got $50 bonus from the broker but that does not count. So, I'm $50 from where I began under.

    I exchange micro lots and mini lots when I feel convinced. The truth is, when I commerce, though I have spent only $1000, the pressure is extreme and it gets harder for me to control my emotion. I though it's gonna be the exact same but performing demo is nothing like moving live.

    Well, after reviewing my transactions, I have found that I put an order almost at the ideal time, but my exit is not perfect. That is because I get frightened. By way of example, once I exchange 0.1 lot, I put stop loss at 10 pips and have profit at 10 pips. The majority of the times, stop loss is hit or I shut the trade due to the fear of loosing more. However, once I reviewed my transactions, I have found that when I'd hold on to those lost transactions for an hour or two, I might have made a lot of money instead of loosing.

    I don't understand how I can solve this issue for me personally. So I arrived here hoping that I would be helped by one of you experts.

  2. #2
    Hey Pixie,
    I'm no expert. But, according to your posts, I am thinking you won't go back. I understand how you feel. I've been trading for a long time (option spreads), but after 6 months of demo FX, I went live recently and I am not return. You did not wipe out in seven days, and In case you came in second in your class, you have some skill set to work with.

    My only advice is:
    1. Contrary to some opinions this website is great, and has some very proficient and beneficial traders. Locate a couple of traders that have similar styles to yours, and have been here trading succelssfully for a while. Read as much of the past posts as possible, be a sponge, and also ask questions. Celebrate their frame of mind over their technicals. In short, connect with people that are doing exactly what you want to do.
    2. If you get a bit freaked have a day or 2 off. If you sit and see the markets.
    3. This is no duh, have fun!

    I wish you success and happiness.

  3. #3
    Quote Originally Posted by ;
    The amusing thing is 99 percent of the advice is coming from those who haven't really made a cent from trading themselves!
    I've always thought that submitting results openly was egotistical, not to mention laying oneself open to accusations of fraud, but comments such as this sorely tempt me to post my past few months' functionality here. Sure, 4-5 months is statistically insignificant, but I've watched the transactions unfold, and though it's only microlots, I am quietly confident - both by also the logic, and the results that underlies the methodology - that I have a nice border.

    I will say is that: I can say in good conscience that your unsubstantiable premise is incorrect.

    People can say what they like about demonstration, but I'd estimate that it's saved me tens of thousands, in regard to learning how to develop a profitable egy. So now I have some extra $$$ with which to fund a nice size account, when I decide to do so.

  4. #4
    Quote Originally Posted by ;
    I have always thought that submitting results publicly was egotistical, not to mention laying oneself open to accusations of fraud, but remarks like this sorely tempt me to post my last few months' performance here. Sure, 4-5 months is statistically insignificant, but I have watched the trades unfold, and though it's just microlots, I am quietly confident - both from also the logic, and the results which underlies the methodology - I have a nice border.

    All I will say is that: I will say in good conscience your unsubstantiable premise is wrong.

    Folks...
    You're definitely an exception Hanover. I found your posts to be plausible and extremely informative. You're always prepared to share what you know with people. You would be a contender, When we had a survey of members that are liked.

  5. #5
    Quote Originally Posted by ;
    I have always thought that submitting results publicly was egotistical, and of course placing oneself open to accusations of fraud, but remarks like this sorely tempt me to post my last few months' functionality here. Sure, 4-5 months is statistically insignificant, however I have watched the trades unfold, and although it's just microlots, I am quietly confident - both by also the logic, and also the results which underlies the methodology - I have a border.

    .
    Hanover. I'm gobsmacked by this post. I am not trying to be an arse, but you've been a part since 2006 with 2240 articles and you are trading microlots? How much is that a microlot? $1 per pip?
    I have always found your articles to be highly informative and logical but I'm gobsmacked by the number of long-term posters here are tooling around with pennies.

  6. #6

  7. #7
    Lolz @ tooling about with pennies. Great way to put it!

    Additionally, profit on demonstration! = profit on actual. Execution is a puppy. woof woof.

  8. #8
    Quote Originally Posted by ;
    I have always thought. . .but remarks like this tempt me to place my last months' performance here. ...
    sorely tempted, but not fully provoked.
    A person of personality.

  9. #9
    Quote Originally Posted by ;
    Hanover. I am gobsmacked by this post. I am not trying to be an arse, but you have been a part since 2006 with 2240 posts and you are trading microlots? How much is that a microlot? $1 a pip?
    I have always found your posts to be extremely informative and logical but I am gobsmacked by how many long term posters here are tooling around with pennies.
    Your signature states u happen to be trading for a living.
    But u say
    microlot = 1 a pip?

    Btw, what is wrong with/gobsmacking about or any Senior FF penis trading demos or micro lots?
    Does trading micro lots automatically/necessarily degrade an individual trader?
    Does trading micro lots automatically/necessarily render all of's (insightful) posts as BS?
    I dont know of a rule that says if u are Senior FF penis (state, 2004 - 2008) or trading live for 5-20yrs u cant commerce demo or micro/mini's.
    Plogically speaking, I sincerely believe, u have an issue of'boxing individuals into specific inflexible egories'. (sorry I forgot the Specific terms/words to use, im still sleepy)

    not wanting to become an arse too (in Actuality, trying to help)

  10. #10
    Quote Originally Posted by ;
    your signature says u happen to be investing for a living.
    But say
    microlot = $1 a pip?

    Btw, what's wrong with/gobsmacking about or any Senior FF member trading demos or micro lots?
    Does trading micro lots automatically/necessarily irritate a trader?
    Does trading micro lots automatically/necessarily render all your (insightful) posts as BS?
    I dont know of a rule that says if u are Senior FF member (state, 2004 - 2008) or trading reside for 5-20yrs u cant trade demo or micro/mini's.
    Plogically speaking, I sincerely...
    you've misunderstood me. I am surprised that he is trading microlots. That was all. I could not make a living and add to my trading account trading less than USD$10 per pip. I have to support my missus and household . And I have to boost my trading currency to secure larger trades.

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