Online Forex Trading System

Question: Have been losing money in forex continuously for 3 months. should i quit trading?

(Posted by: why? on 2010-07-26 20:09:11)

I have been trading forex since 1999, but been losing money for so long till 2008 that I achieve 100 % return on investment. Thereafter, I have some wins and lost. Don't know why since May 2010 I have been losing money consistently. Any advice?

Posted by: mark mc donnell on 2010-07-26, 21:37:13

The other fella said to stop trading real money, I agree. Also I dont know what you are doing but if you are using technical analysis it does not work, stop using it. I cant understand why forex traders would use something that there is no proof anywhere that it works. knol.google.com/ k/ mark-mc-donnell/ -/ 3j2ez79fq3qkn/ 0# Here is something for you to consider. Read this series of five award winning forex technical articles. I believe I can make anyone a successful forex trader using these principles. I hope you enjoy them. If, on a conceptual basis, you agree with the content of these 5 articles I am sure our paths will cross again. Ithink you can make hundreds of pips per week with this system but you must be willing to papertrade for about 30 days to prove that. Good Trading Mark McDonnell forexearlywarning.com Yahoo Answers Level 3 Responder

Posted by: andrew f on 2010-07-26, 20:36:47

You should temporarily stop, get educated on entry/ exit/ money_management, then re-enter the market.

Posted by: Asia forex Mentor on 2010-07-27, 01:31:21

If you have been trading for so long and is still not profiting. The main reason lies in your trading system. Do you have a proper trading system? Do you have a proper money management system? Do you understand price action? If any of the 3 is a No. You should stop trading first and learn about them. 14 years of full time forex trading experience Asia Forex Mentor Ezekiel Chew

Posted by: Jannie Oh on 2010-07-27, 02:10:30

U shud stop trading for a moment and check if you're making any of these common mistakes: no trading plan/ strategy no risk management or hedging buying high selling low unrealistic expectation averaging down -- > keep adding weights to loser positions trading too often ______________________________________________________________________________ Make Smarter Investment Decisions! investopresto.com

Posted by: B W on 2010-07-27, 11:29:23

It sounds like you're trading against the trend more often than not. You should take a break, or possibly follow someone in the market.

Posted by: Akash R on 2010-07-29, 00:58:47

If you ask such a silly question, even a non-trader will answer u stop trading!! You should now try using a demo account!! No one is the best trader in forex market. Forex market is such a tempting market, the trader uses all of its leverage. If u r given 1:200 margin. Dont utilise fully. If u utilize 10th of your margin, you are surely gonna win. Suppose, if you have 100 dollars and you buy at 200 leverage 20,000 GBPUSD at 1.5600, when market falls to 1.5550, u r automatically going to make losses and account would be zero. Now, if you have the same amount in your account and if you buy 2000-5000 GBPUSD at the same price, you can stand upto 200 to 500 points and you have much more chances of not losing money. If you have bigger amount use only 5%. I am doing this, earning a little low but earning constantly. And one more thing is that, when you earn good money in one day, you become overconfident and you utilize full margin and lose all the money. So, all these things should be kept in my mind. However, I give you the link of the company wher i trade forex,try demo. And if you need any assistance my yahoo is: akash_mixup gfcmarkets.com/ trading-accounts/ open-real-account?pid= 638 &mid= 376 &cid= 276 &zid= 286

Posted by: Sabrina Thomas on 2010-07-30, 04:42:26

Patience is the biggest key in forex trading. Try to find out your weakness and work it out on them. Thats the only way you can gain confidence and resume forex trading. Many novices fail to appreciate the importance of having the correct outlook toward trading in the Forex market. This is actually about making the proper preparations before beginning to trade in the Forex market. First of all, a novice trader must coordinate his personal goals and mindset so that he can connect with the market as well as with the tools used in Forex trading. :