What is your biggest frustration when trading forex?

ErikBobbink

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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
 
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.
 
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
 
greed !..:)


((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::)
 
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((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:
 
'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 !
:(
 
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.
 
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.
 
As in life.......if you are getting constantly frustrated then you do not understand the market

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

N
 
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.
 
I am new here and this is my first post, i am in the states and i can tell you the biggest frustrations here, we have a FIFO first in first out regulation, no hedging, and low margin / leverage rates, usually in the 30:1 range. these regulations make it extremely difficult to make money.
 
Hi George,

hedging: I don't believe in FX position hedging. You might be neutral through the hedge but you are paying swaps every day. So rather take the loss and start over.

BTW- hedging means you now believe in the opposite market move. So you might as well close the original position.

Low leverage: more difficult to make money but it also takes longer to loose it all - so you have more time to learn and get it right :)

Happy trading!
 
Hi George,

hedging: I don't believe in FX position hedging. You might be neutral through the hedge but you are paying swaps every day. So rather take the loss and start over.

BTW- hedging means you now believe in the opposite market move. So you might as well close the original position.

Low leverage: more difficult to make money but it also takes longer to loose it all - so you have more time to learn and get it right :)

Happy trading!


apparently you need to have more experience trading currencies before you start giving advice and comments, because you have no concept on what the hell you're talking about
 
apparently you need to have more experience trading currencies before you start giving advice and comments, because you have no concept on what the hell you're talking about

I am hesitant to step into the middle, as it is probably not worth the effort, so before you go any further please watch this great explanation of hedging..

http://www.learningmarkets.com/the-nfa-forex-anti-hedging-rules/

The reason I stated it is probably not worth the effort, it has been my experience:

As a long time experienced Forex trader and educator and most recently for the past 2 years a seller of options premiums, it is amazing how Forex traders and those experimenting and believing in any technical analysis voodoo science, will continue to defend any challenge to their ideological positions as if they were victims of the Stockholm Syndrome.

Before openly criticizing someone intelligence, please open your mind to the possibility you could be wrong.

:clap:Why would anyone trade anything except options?? :clap:
 
RStu.... yes it is a usually a good idea to stay away from disputes, especially on the internet, and you are probably right, as one day i need to get around to learning the classicial sense of hedging, but as far as currencies, if you, like i am, are a US citizen, then i am restricted by CFTC regulations. NO other country has these regulations and with that i am also forbidden by law to use a foreign broker. In fact the CFTC just sued a group of foreign brokers and fined them millions of dollars for ENTICING US clients, I would have loved to been in that trial, because i searched for foreign brokers that will take US clients, we are not bing enticed, we are just tired of being SCREWED by the government, and yes there are a few foreign brokers that will accept US clients, i/m not sure i can trust them though. THe bottom line is, it is illegal for them to accetp us. All that said. HEre in the states we have a first in first out regulation, that mean all trades within a single pair , are listed as one trade and when trades are closed, it is first in first out, instead of trades listed seperately, so if i am, let's say the eur/usd, short, i can not place a long trade. Last night was a good example, the eur/$$ was in the 133.55 range all day, i am short from 134.7, and have been since last week, but every so often it tries to bust above 134, well.... if i was not treated as a retard by the cftc i could take advantage of the move and place a long trade, taking advantage of the 50 point move... but alas... i can not, so i have to sit here and watch the markets do what they do and not be able to take advantage of those periodic moves. ( HEDGING) not in the classical sense as in options trading, but more in the fly by the seat of you pants , currency trading. I also do not want to close my current trade because of the entry point, i know full well that the eur/usd is probably going south to 128, i can leave it alone as along term position, especially since i am making money with it as it sits. the reason i don't close it is my entry point. 134.700 , but if i coulod hedge my trade, and enter in a long position when i see the the right movement, i could as i mentioned , as last night, pick up those extra 50 points now and again.


Now comes FXWAYS and his backass comment, this was athread about frustration in fx trading, and he wants to give me a lesson , not only a lesson, but also that because i need more time to learn. He is right in line with CFTC regs. so either he is a stupid idiot or a schill for the cftc , monitoring these boards hoping to beat down anyone that is sick and tired of them. Also, he just me an idiot, as he mentions swaps, well if he really traded his own accounts or any accounts, he would know that swaps are both positive and negative, depending on, the currency pair and whether short or long, any position i hold long term has a positive swap, so i receive a few dollars each day just by holding it through the time when the market rotates, usually about 6pm NY time. SO YES i am calling him out as an idiot, he just needs to sit back and learn himself and in the mean time STFU
 
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