What is your biggest frustration when trading forex?

ErikBobbink

Newbie
3 0
Hi,

I am just new starting out and I have heard that knowing your fears makes you stronger.

Therefore, I was wondering what your biggest frustration was when investing in the forex market?

Please help me out since I would like to start trading not as a total newbie :smart:

Also do you have any courses that you would recommend?

Erik
 

thetradingfloors

Junior member
39 3
Hi Just to wish you all the best on your chosen path but a little bit of advice would be to watch out for scams, so make sure you do your research thoroughly. I suppose maybe one of the biggest frustrations for many traders, especially those who are just beginning and I might be wrong of course as it is an individual thing, is when you see where you went wrong with your trade and your inability to get out of that trade and watch it take a dive. Good courses will show you how to enter and get out of a trade and manage stop loss and targets with risk management strategies in place.
 

Forexmospherian

Legendary member
39,928 3,301
As a short term intraday trader - my biggest frustration is not actually losing on a trade - I accept that every now and again - but being misguided into a price "tease" area by a false move that as actually changed the price structure - and then the players / manipulators immediately change the direction once they know the have a suitable amount of traders in a trade the wrong direction

It's deliberate "gameplay" manipulation - but you have to accept it - as it legal and if you have a few thousand lots to play with - you can do the same - if you know how's it done ;-)

I can also think of many more trading "frustrations" - but really its just like driving in central London in the rush hour - loads of things to wind you up and get you annoyed - but its not going to change anything - so really you try and just "chill" and accept this is all part of the "game"

Don't allow your "head" to be kicked - just use money you can afford to lose - keep calm - learn to focus and concentrate and find your trading zone - and most important spend thousands of hr studying live charts and watch whats going on - the clues are all there - believe me ;-))

Regards

F
 
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AlexanderCollins

Junior member
13 3
((Joined Apr 2005)) !!! LOL :cheesy: don't believe that i join this forum in the same time i get interested in forex trading and this is my first post !!! . . huh ! 9 years !!:confused::)

Day's with no valid trading setup frustrate me the most and although I really should know it better. When no setups appears for hours, I tend to see things on the chart which are not there. :eek:
 

neil

Legendary member
5,167 748
'Kinell Mods

Hi,

I am just new starting out and I have heard that knowing your fears makes you stronger.

Therefore, I was wondering what your biggest frustration was when investing in the forex market?

Please help me out since I would like to start trading not as a total newbie :smart:

Also do you have any courses that you would recommend?

Erik

Ye gods ! - Here is a bloke who admits to knowing nowt about trading yet he sells a tip sheet !!!
Well - seems another one got past the Mods then !
:(
 

timsk

Legendary member
7,600 2,374
Ye gods ! - Here is a bloke who admits to knowing nowt about trading yet he sells a tip sheet !!!
Well - seems another one got past the Mods then !
:(
Hi Neil,
The registration process needs updating as quite a lot of new members accidentally show up as vendors when, in reality, they aren't. It's a genuine mistake on their part and explains the contradiction of a self proclaimed newbie selling tip sheets (in this case), or training courses or whatever. I may be wrong, but I suspect this is what has happened here.
Tim.
 

csc2009

Established member
633 17
Biggest frustration for me it would be recognise my lost.
 

Traderallen

Active member
248 41
While I would agree with Forexmospherian, That getting caught in a tease or trap is frustrating on a day-to-day basis. I think the real frustrating part of learning how to trade is having to sort through the huge pile of Forex trading books, videos, courses, and other stuff that turns out to be just a waste of time and energy when learning how to trade. There is so much stuff that is been rehashed and rehashed and sold to the new aspiring trader as the latest and greatest holy Grail.

As far as courses you have to learn the basics, so started babypips.com go through all that material there. And if you still decide you're interested in Forex. Study Kathy Liens books Do not focus on a trade setups as I don't believe she can actually trade. (She has admitted in a video that she got where she is because of how she looks not how she can trade) What's beneficial in her books is her take on how the markets work. This book is just a primer to what you need to know but it's easy to read and once again allows a stopping point for you to decide do you still want to continue to learn. There are several other books about market dynamics that are also good to read. Learning market dynamics should take you the better part of a year if not more. At that point it would be time to start looking for a method that fits your personality. I'm a scalper and I don't recommend scalping a 70 tick chart to a new trader. I can however recommend a method. Taught by Tim Lucarelli of FX addicts I learned his method completely and have traded his method. And found it to be a profitable method of trading. A beginning trader would be overwhelmed and probably fail at trading his method in any other method until they complete the steps of learning how the markets work. That must be done before looking for a trading method. Trying to learn a simple buy on green sell on red. With just drain your account.
 

NVP

Legendary member
37,758 2,100
As in life.......if you are getting constantly frustrated then you do not understand the market

It's not an ATM machine"..........sadly !!

N
 

fxways

Junior member
19 0
You got to know the broker, the market AND your strategy. The frustration comes from repeating the SAME errors!

Put it that way: your signals may be a random walk and point to the wrong direction 50% of the time. So make sure you win more when you are profitable and only loose small when its not working.
 
 
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