2楼
Hi,
I am going to be completely honest and say that I was utterly humbled by the markets. I had traded on my FX Game account, and made an insane amount of profit, and got cocky and thought I could do that on my Live account. So, needless to say, I funded my account with $6,000 from my enlistment bonus from the Navy, and my first trade was a winner, but after that, my winners have been few and far between. As of now, my account stands at a value of $2,300, and I have only been trading for about a week and a half. I am in awe as to how I could have lost so much money in so short a time. The only person to blame is myself, and I am just wondering if there is anyone out there who could lend a helping hand and enlighten me as to how I can dig myself out of this hole. I have heard that a trading plan should be simple, since the markets are simple, but the only thing that I have witnessed is losing money can be simple. If anyone is willing to just tell me what I should do to become better at trading, please do. My number is 11111111, or you can email me at 1 [email protected].
3楼
I am sorry to hear of your losses. It saddens me that it was your enlistment bonus. That sucks.
I am going to be brutally honest with you in order to try to save what money you have left.
There is no way anyone can help you to recover the losses you have sustained in a short time, at least not win them back in the same short time that you lost them. The knowledge that you need to trade this market profitably will take you many months - and probably years to obtain - even with the help of a good mentor. I am not being sarcastic. This is the truth. Skilled traders take years to get the skills they have.
Do not listen to the scammers and system/signal sellers who will no doubt chime in and offer to sell you some kind of miracle system that will win your money back. If you do, you can kiss that last $2300 good bye too.
Take the $2300 out and save it for now. Then put the practice (demo) account back up and try making pips consistently for 6 months or so.
In my opinion, do not day trade. It is a money hole. Look for good once-a-week opportunities. The name of the game is to be very SELECTIVE and take only the best trades where the risk:reward ratio is stacked in your favor. Forex trading - any kind of trading - takes a substantial time to learn. It's not as easy as it looks, as you are now learning. Many of us have also taken big losses in the learning stages (and beyond!) You are not the only one. Good luck!
4楼
Save u some time,
there aint no such thing as a free lunch
so dont expect anyone on here to help u. rest assured there are other ppl in the same situation but the guy above has a valid point, u should stop trading atm but i personally dont think u should withdraw the money, u should keep working on a demo account for a period of time n then move back into the real one trading small lots.
just my oppinion though
good luck
斩却三尸,重做系统
5楼
Two things only:
1)Only commit 2% max of your bank on any one trade you decide on. That means $46 of your current bank of $2300. How do you apply that in practice?
Well you look at the currency you're interested in and you see the level at which you wish to enter and at the same time you MUST decide the level at which you will exit the trade should it go against your projection. In other words your STOP LOSS. Then add up the number of pips between your entry level and your stop loss...and divide that into your 2% stake. That will give you the cents/dollars per pip you will need to use to determine the number of units you'll hazard on the trade.
You will find out the number of units you need to enter in the buy/sell menu by a simple method of trial and error.
Let me walk you thru a concrete example: Let's say we're interested in the Eur/Usd rate. And on 10th Sept, towards the end of the trading days range...on that means midnight ( I know that's a bit of a bummer) the range for the day was: high = 1.40395 and the low was 1.38829.
Now we reckon according to our crystal ball that the rate is due for a retracement or correction...that is it should turn and go up.
So we want to put a limit order to buy when it breaks out above the high of 1.40395, but we wont buy it at that price, no we want a distinct break above that high, since that high will act as a resistance on the shorter term time frames.
Rather we'll give it 10pips space and then buy it and similarly with the low which for arguements sake will become our default stop loss. In other words should we be filled on our limit buy order then if the rate goes down and breaks below the last low of 1.38829 we don't really want to be in the trade and consider our bet as lost. It's only 2% remember and and you'll live to trade again and what's most important you'll live to trade again and quickly because you wont have your guts all churned up with worry and your psyche un-balanced by suffering ego damage as well as financial gouging.
So to return to our example: The limit buy order goes in at 1.40494 and the stop goes in at 1.38729, that's allowing 10pips on the downside as well as on the upside for a clear break out.
Doing the maths...1,40495-1.38729 = 1766. Disregard the last number since its a pipette equivalent to a decimal, and so rounding off we get 177 pips.
Our stake for this trade is $46. So dividing 46 by177 = 0.25988 which rounded up is 26cents per pip.
Go to the buy menu on the eur/usd chart and look down towards the bottom and you'll see something like this, 1 PIP = 0.07 USD
In the units box type in 2600, which is pretty close to your cents per pip and you'll get a read out on the bottom saying 1 PIP = 0.26 USD. Play around with the unit numbers on the lower side, eg 2590 until you get a reading of 1 PIP =0.25 USD
That will be the units you will use...I think I got 2550. That is the cusp between 0.25988 and 0.26 cents per pip.
Now just go ahead and fill this out but in the limit order box, not the market order box where you'd been trying out your units size. Remeber to put in your limit buy in the quote box and your stop loss in the stop loss box. As for the TP put it well up say 400 pips so as to give you space in case the thing moves while your away at sea.
2) Always use a stop loss.
Don't even look at those who say, they make you lose or such like statements. Go and check the threads on "disconnect problems" and see a whole waiting room of demented traders pounding on 's door trying to get themselves out of their positions...all because they used mental stops. It's a veritable bedlam.
Do the above and whatever system you devise you will be sure of stying in the game long enough to know whether it's a good system or not...you'll survive and that's the first and last thing you need to do....GO SAILOR.
6楼
Stop live trading RIGHT AWAY.
Telling you to build a plan is like telling a baby to sit for a Math exam.
I won't do that.
But I will tell you this.
You have tried the game account and made huge profits which is a sure sign that you risked to the limit of gambling. This sort of trading will never work in real life because fake money is fake money and real cash is real cash.
You have had some demo account experience which means that you know how the platform works.
Now,
Go back to the demo account and try this to see if it fits for you.
Trade only eurusd and enter with 25% of your account.
Watch for NEWS. Never trade 15min before NEWS nor 15min just after NEWS.
1- 5 min frame candlestick with no indicators.
This frame is used to gauge the 'now trend'.
Never short when the 'trend' is up and never long when the 'trend' is down.
2- 5 sec frame with two 'crutches': EMA144+EMA55
Use Min/Max display.
When EMA144 slopes up and EMA55 crosses EMA144 from below and price move above them, BUY. Inverse for short.
Aim for 5 pips unless price goes straight up.
3- If you do it 'correctly' you should be in profit 10-20 sec after entry.
4- If you made a wrong entry, exit immediately.
Try the above for a couple of weeks.
If it doesn't fit your style I have other 'trading plans' under my sleeves.
Have fun. [Wink]
ps
Don't ever PAY for whatever trading strategies people may want to SELL to you.
7楼
If someone were to tell you straight exactly what to do you wouldn't understand, if/when you did understand you still wouldn't do what you were advised!
Go ahead and make all the mistakes, it's what everyone else does!
At some point you have to stop trading, so you either stick at it for life and it is your job, maybe stop via early retirement if you do well, ultimately you will stop trading when you die! Or you just stop now and get the bug out of your system! The time it will take you to become good at this is the same time it would take you to become a doctor, of course there are exceptions to the rules, so get out at either end of the spectrum, sooner or later, not in between where your losses may become greater and then you give up and don't see it right through, go and have your fun in the navy!
Unfortunately the loss you incurred would have come eventually, you may have made loads of money and then tanked it, this is because if you made some money you would think you had sussed it out, you wouldn't have stopped trading and walked away with your gain!
Little do you know that loss has done you a favour as you can walk away now and forget it ever happened, this is hard to get through to someone!
G Luck...
9楼
Originally posted by jasonca1:
Hi,
I am going to be completely honest and say that I was utterly humbled by the markets. I had traded on my FX Game account, and made an insane amount of profit, and got cocky and thought I could do that on my Live account.
Really? You never posted here before? HOW LONG did you trade on the Game account? Did you know that you should do that for MORE THAN 1 YEAR? so that you are exposed to a lot of what the market does throughout the year? Also, in learning, if you did it ALMOST FULL TIME, it would take you over 1 year to learn how to trade. Did you really spend the time to learn?
So, needless to say, I funded my account with $6,000 from my enlistment bonus from the Navy, and my first trade was a winner, but after that, my winners have been few and far between.
What changed? Did you change the way you trade? If so, did you know that you NEVER change the way you trade using real money. You should try different things in the Game account FOR 6 MONTHS, then, if it works, do it with Real Money.
As of now, my account stands at a value of $2,300, and I have only been trading for about a week and a half. I am in awe as to how I could have lost so much money in so short a time. The only person to blame is myself, and I am just wondering if there is anyone out there who could lend a helping hand and enlighten me as to how I can dig myself out of this hole.
Only you can do that. Read. Learn. Try stuff in the Game account, for a LONG TIME.
As for making your money back, you need this knock upside the head:
Good traders can make 10% - 20% PER YEAR on their money.
GREAT traders can make 20% - 40% PER YEAR
PRO traders make 50% - 100+%
It takes YEARS to become a Pro trader.
Now, with your $2300, **IF** you become a GOOD trader, you can expect to make $230 PER YEAR in profits. As a side note, I'd BET that you were trading TOO BIG. What trade sizes were you using? 500 units? 1000 units? 2000 units? No, I bet you were using 50:1, giving you 300,000 units available, and you were using 10K, 20k, or 50,000 units trade size [Eek!]
Wanna really learn something about that? Do a search for "Too Big", and read every thread (completely) that shows up in the results.
I have heard that a trading plan should be simple, since the markets are simple, but the only thing that I have witnessed is losing money can be simple. If anyone is willing to just tell me what I should do to become better at trading, please do.
A good place to start is here:
What is your Forex IQ, or, So you want to trade in Forex
Also, read through some threads here, and follow along with charts. See what people said, and what the market did. For example, see the GBPUSD thread (start at the beginning!!). Follow along. Then the EURJPY - a sell line in the sand thread (ALL 300+ PAGES)
10楼
Originally posted by Weejock poopong mc plop:
If someone were to tell you straight exactly what to do you wouldn't understand, if/when you did understand you still wouldn't do what you were advised!
Go ahead and make all the mistakes, it's what everyone else does!
Yeah, so true. Brutal but true. I hate to hear about newbies coming in here with wads of cash and just getting hammered. But Weejock is right. For most of us it's the ONLY way that we eventually learn. It's the shock of the unexpected loss that wakes us up, either to leave trading for good or start learning for real. What happened to the sailor happened to me too, with my first account, only it took me about 6 months to cut the balance in half.
斩却三尸,重做系统
发表于:2008-10-05 07:34只看该作者
11楼
顶一下,,
其实中文的藏经阁里好多。
技术分析是艺术,不是科学!
发表于:2008-10-05 07:39只看该作者
12楼
让思想 行为 情绪 相互一致,从而使生活成为一种愉悦的过程。
14楼
Yes, for me, I prefer the word "stable" not the word "quick", and my Limit Entry prefer to stand with the word "sure" not the word "chance". These took me sometime before I can approach it. No matter what it is "win/lost" is always in this field and all depend on how good can I solve the problem.
The pro here always know the word "greed and fear" that can destroy the account. I will add in another word "regret" that can be the destruction of the discipline.
Many people always learn from the word "wrong", but forget another half, "right". That why make some one can learn far more faster than another. Crossing this two words without any bias, can advancing into another step.
15楼
Yes it's simple.
Works this way
When you look at it, or demo it, or talk about it or dream about it, or paper trade it then when you buy the price goes up, when you sell the price goes down and you make a mint.
When you do it for real, this is what happens:
When you sell the price goes up and when you buy the price goes dowm.
There is no way around it. It's just designed to do that.
16楼
the question you have to ask..and it is the important one.
are you really interested in a career as a professional trader..?
or are you interested in making a profit...?
if you are interested in becoming a professional trader...set the money aside for now and spend the next several years learning how to trade effectively with micro amounts.
We will all be here in the forum..in our own idosyncracies...we are actually same as you...we all desire the money...but more than that..we desire to learn more.
17楼
I would recommend that you visit BabyPips School.
Just Google it.
Here also is my recommendation:
Develop your own system - take a few months to do so and
trade it consistently with the rules you have formulated for
it. Rules usually include a person's own emotional makeup. It is
for this reason, among others, that sticking to them is very
important.
Choose one currency pair, get a feel for the movements/personality of that
currency. This simplifies your focus.
Use low leverage ie 1:1 or 2:1 until you have confidence in the
system you have established and see that, by applying its rules, you are
consistently earning profits. It is widely thought that high leveraging
is the number one cause for wiping out accounts - failure.
Every day when I go to the trading platform, the first thing
I tell myself is that I don't need to trade. As one successful
trader likes to say: "trading opportunities are like buses,
there will be another along soon. Wait it out. Don't be anxious,
in a hurry, sidetracked, or in doubt. Give yourself space which
means that you don't want distractions while you trade. If you
stick to this thinking, you will find that the trades you make are
quality, not quantity, related. You will also see more winners and
consistent profit.
斩却三尸,重做系统
18楼
"He who knows when he can fight and when he cannot, will be victorious." – Sun Tzu
Yup
The complete sentence is
"知己知彼,百战不贻;不知彼而知己,一胜一负;不知彼不知己,每战必败"
And the following is how google translates it:
"Know thy enemy and know, do not Bai-Zhan Yi; I do not know Peter and friends, one win and one negative; I wonder if he is not friends, each battle will be lost"
20楼
转完了,和这里的坛子一样,终于几个熟人自开话题,大大地跑题一番
斩却三尸,重做系统
21楼
老外交易很讲究的数学分析,很严谨,走的是数字之路。
中国对道教佛教的研究融入到交易中,讲究势的转换,得失的心理平和,走的是模拟之路。
双方都借鉴一下,或许有所启发吧