I Just Can’t Win At Forex !
I Just Can’t Win At Forex !
Ever felt this? I was trying to help a new trader and he said to me. Every time i go long the market goes short. And Every time I Go Short the market goes long. I Just Can Not Win. I have said it over and over in this blog, If you are struggling. Go to larger time frames. And I am talking even weekly, until you can get a feel of how the market works.
Seeing Is Believing ?
Trust me when i say The larger time frames do work if your a new trader. You need to see the market in a whole new light. And until you can see the market and how it is structured. You will always feel the pain of the market and the frustration of loosing all the time.
How do I Know? I have been there as well. The problem today is that there is a bunch of folks on YouTube Claiming to make millions and some may have. But Most actually make there money from selling you a course. And that is how they make millions of dollars. I have never sold a course, because every trader needs to find what works for them.
The Truth On Forex.
Forex is a violent market and makes trading stocks look like a walk in the park. You need to find what works for you, I have said this all the way through this blog.
Until you have the screen time and get the flow of the market down, you will always get your ass kicked. I have been there and told my wife I was going to quit at least 1000 times. But, I have a passion for the markets, Hence the name of this site.
What Can You Do?
If you want this in your life, You must do the work. Screen time does wonders for any trader out there. Think of it this way, if i asked you to drive in Nascar, do you think you would win? Nope, those guys know what they are doing and still get there but kicked. The same holds true in trading, You Will win and you will loose.
Manage Your Loss
Remember to keep your loosing trades small, and let your winners run. Far to often traders do just the opposite. And they take small wins and larger losses.
Trade with the flow of the market, There is always a trend. Just trade with the trend and let it make you money.
Years ago, I was trading the Euro and made like 3800 in a day. But Them something hit me. Had I Let that trade just run, I would have made 40K
Far to often we tend to look for the thrill of making a buck, But need to remember that this can really make you more than a quick buck. It just depends on the style of trader you are.
U.S. Government Required Disclaimer – Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.