I found my problem!!

[davidjss]

I have to admit I have a problem in Forex. It's not that I treat it like a gamble. It's not that I trade without stops. It's not that I take on too much risk on each trade. No, the problem is much simpler than that.

DIAGNOSIS: CHRONIC UNDERTRADING!

I know, it's scary, but I think I can survive. The amazing thing is that I knew it all along.

I have a fear of trading because...
I lost a lot on my very first trade because...
I didn't understand risk and money management because...
I didn't read enough about FX because...
I hadn't thought to use the Internet to research because...
I curve-fitted an "amazing" system the very first day I saw a chart.

I am solving this from the bottom up.
I now understand that you can't curve-fit because the market dynamics change.
I am on the Internet researching at least two hours a day.
Thus, I am reading all the time.
I have researched and now understand risk and money management and what proper risk levels are (Thanks to twinchell for your risk thread)
I no longer lose a lot on my trades, because I realize proper stop placement and moving the stop to BE.
Now, the only obstacle is actually TRADING. I am pissed at myself for not being able to man up and take a risk, but I am getting there and will start a new journal next week, with at least 5 trades a week (Hold me to that everybody!!). It may not seem like much, but I gotta take babysteps on this one.

 

[budado]

Theirs only one solution to your problem and its hard to accept but its has nothing to do with forex its have something to do to your mental capacity to learn and to trade.
In forex trading its all about research and skills. Now if you experience all of this above you mention then that's only shows that you are lack of discipline, patience and confidence. Because if you have this three you will never going to experience does above you mentioned.

 

[indieover]

yes we just learn how to be flexible. as he had said that forex is dynamic. so there is no fix pattern in trading. so we have to be ready for the sudden changes we would experience in forex. that is why we should better prepared with a strategy for each situation.

 

[budado]

Another wonderful solution. Have a big amount of capital and uses the lowest leverage and the lowest account as possible.
Right now I have 100 dollars in one broker site that I'm trading and since my account is mini and has 1 pips 1 cent value. my 100 dollars is worth 10,000 pips. not bad right? even if I loss 2,000 pips I can still survive. lols.

 

[riddick09]

I'm not sure if he is really great in forex trading as looking in the threads he have we can say that he copied the content from the other forums and we might also think its him who made those threads. Well, no matter what, it is always a wise decision to have risk management. Well, seems he made to study in babypips as well. Let's see that they made to point out those possible way to improve in forex.

 

[Cutiekc]

Theirs only one solution to your problem and its hard to accept but its has nothing to do with forex its have something to do to your mental capacity to learn and to trade.
In forex trading its all about research and skills. Now if you experience all of this above you mention then that's only shows that you are lack of discipline, patience and confidence. Because if you have this three you will never going to experience does above you mentioned.

i agree with you,mental capability has a great roll to play in the foreign exchange market though if one does not have this at the start then it could be built up perhaps will take much time mostly when it comes to the mathematically aspect of it.

 

[yudistirarizki]

primary key of the forex business is, first. not easily discouraged, the two should not be too eager to put capital better little by little these three do not get greedy and impatient

 

[riddick09]

Well, its also good that you will need to motivate or keep yourself motivated in forex as first losses will not mean of final and will stop in forex trading. Its obvious a hint that a trader who lose in their trades need of improvement and they need to know what are the mistakes and how to prevent or avoid it to make it happen it again.

 

[budado]

Well, its also good that you will need to motivate or keep yourself motivated in forex as first losses will not mean of final and will stop in forex trading. Its obvious a hint that a trader who lose in their trades need of improvement and they need to know what are the mistakes and how to prevent or avoid it to make it happen it again.

That's true. In instaforex I almost got MC twice. But I'm still here. lols. I have 60 dollars loses already as of this time. I have 120 dollars capital so I know I'm still in red but I'm planning to open another instaforex account to have a clear start. I'm hoping that I can earn good in here and that's my solution to my problem. lols. New account.

 

[monyitomon]

primary key of the forex business is, first. not easily discouraged, the two should not be too eager to put capital better little by little these three do not get greedy and impatient

There are some Paid to post Forum and also some Forex broker to sponsored some top poster contest in winners will able to have the funds with their trading account so with those things we actually don't need to put our money from our own pocket especially when we are just starting in Forex trading.

 

[kasual]

all problem written in thread above actually is common problem who usually beginner face. its interesting if I read the thread above because actually the thread starter not only write their problem but also write how to solve the problem. its remembering me that actually every trader have ability to solve their own problem, as far as trader not give up to search the answer of their problem.

 

[budado]

Its not a problem at all but reality. that's what make forex work. If we don't take risk then we will never going to earn in here also. The reason why some do earn simply because many loses. Because what you earn is someone loses.
That's why its important that you know what you are doing in forex before you even decide to invest and trade.

 

[riddick09]

Absolutely, why we are going to trade in forex if we don't know that there's always risk involved. And why we are going to trade if we just think always that we can get rich without knowing that we will going to lose all of our capital. Its definitely important for traders to know the basics about forex and know that its not easy as other programs.

 

[Syrine22]

I think our mindset would be helping alot if we have it in mind to succeed in forex.Firstly we got to know it's a risky game we are playing where we might gain or lose and if any should be the case then we should cheer up and correct our mistakes.

 

[faceless]

Well management in the money is probably one of the most important thing when trading in forex. You should definitely had looked in that in detail way before you started doing trading.

 

[riddick09]

Yes, it is. In the technicalities matter then its better to learn about the risk and money management as they will going to have something to do with out trading capital as well as in making profits. There were also trading psychology that have big impact for traders.

 

[Tirus]

You are right because trading psychology does have a real big impact in determining the result of your trades. If you are not careful and dont keep your emotions in check then they might just end up influencing your trading decisions for the negative and you concede losses in the process.

 

[brokenblade]

This is good that you have found your problem. When people figure out what they are doing wrong in any field, this helps them push towards success in any field that they pursue. One of the reasons many people fail is that they don't take the time to find out what they are doing wrong.

 

[riddick09]

Yes, they will going to find out the best solution to not have this mistake or problem again. As for forex trading, its very difficult as we know that we need to test them and apply in real trading and encountering them or we have found new problem will mean that we will make some losing trades while learning for our mistakes.

 

[budado]

This is good that you have found your problem. When people figure out what they are doing wrong in any field, this helps them push towards success in any field that they pursue. One of the reasons many people fail is that they don't take the time to find out what they are doing wrong.

I guess its time for him to loss that problem. I means solve that problem. lols. In forex trading I don't think problem will ever be solved. its only going to be minimize but will never be solved. I think its better that we just spend more time trading and learning that just solve problem as its pass by.