ForEx is not for Everyone!

Some newbie may wonder "What do they mean when they talk about controlling one's emotions?" Here's a prime example. I had a friend who wanted to learn. I got him started and tutored him for a while, having him in "over the shoulder" mode. He'd practice on his own time.

One day he came over and wanted to show me something. Well, whatever it was, didn't appear as he thought. He immediately started "pushing buttons." I asked him WHY the keystrokes. He said, "I had to do something!" Yet, he had no clue as to WHY he was active.

If you don't know what to do, ask, or, do nothing. Many times price has pulled what my cockatoo calls "a foolie" on me. I've simply sat quietly, touching nothing and revamping my strategy. He'd be bouncing off the walls if he saw me sit calmly.

When you can sit calmly in the face of adversity, you're in control again.
 

Brain

Trader
Jan 12, 2011
9
0
17
surprisingly some people think it's some get-rich-quick scheme. too bad. people need to be educated.
 
Apr 17, 2012
59
0
0
A lot of people wants to trade in ForEx, but it is not for everybody. Why?
The main fator is Control Over your Emotions. So, until you aren't able to control your emotions, DON'T think to start "playing in ForEx"

Everyone can learn forex, deposit money & start trading
but not anyone can make good & constant profit
human psychology have a main rule in trading
you must have the psychology & confidence of the successful trader :)
 

Fxpipper

Master Trader
Oct 26, 2011
1,132
4
49
Ahh yes, it is not for everyone. Forex trading required a lot of effort, research and practice..so yes, it is not for all, esp those who think the market is a cash generating atm.
 
Oct 17, 2011
103
1
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India
According to me you can`t trade live without spent atlest 6 month with demo. Forex is not that kind of easy like lets play "NOW ITS MY TURN".
 
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Fxpipper

Master Trader
Oct 26, 2011
1,132
4
49
Most people miss the point of the demo - you basically use the demo to streamline your strategy and of course, brokers have now set a specific timeframe for each demo account, 1 month, 3 months and so on..smh
 

WalkieTalkie

Master Trader
Feb 19, 2009
141
1
47
I would say that forex is not for people who are gamblers by their nature. Such people should not go to casinos and should not trade forex though forex is not gmabling of course, but such people will be investing money and losing it without stopping to understand why this is happenning or trying to learn more.
 

SamuraiTrader

Trader
Oct 7, 2012
6
0
22
www.samuraiforextrading.com
This is true. For some people no amount of study or chart time will make them a successful trader. This is because their problems lie in the way they think, and they are likely too afraid to confront these issues in such a way that will cause measurable change.
 
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Apr 17, 2012
59
0
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I would say that forex is not for people who are gamblers by their nature. Such people should not go to casinos and should not trade forex though forex is not gmabling of course, but such people will be investing money and losing it without stopping to understand why this is happenning or trying to learn more.

I think it is misunderstanding about trading to say that it is gambling, while there people using it as a gambling tool. Now this is my argument about why forex trading is not gambling.

Gambling : To play a game of chance for stakes.
Trading : The act or an instance of buying or selling.

You see gambling is an act to bet on a certain outcome. Say you watch soccer game, you bet on it, it is gambling, like the card games you can play but people bet on it so that is gambling.

Trading is not gambling, but it depends on how the person is using it, if they are not trading they could also gamble on the market.
 

Kungfupanda

Banned
Oct 8, 2012
160
0
12
I just think if you bet for one team in a football match, maybe you get something to bet for them. So Trading and Gambling are very similar.

But trading would be gambling if you don't have enough knowledge about it. Fx is a big market and when you have enough trading experience, economy knowledge and the analysic skills, then the trading is not gambling.
 

Samuel23

Banned
Apr 20, 2012
171
1
0
Eventually we should know how to control our emotion if we want to succeed in the Forex Industry. This is very important as we cannot mix Emotion and Trade together. This can affect our trade and surely be worst for our investment.
 

Raleigh Lee

Trader
Oct 8, 2012
11
0
17
81
www.traderstao.com
I have an attitude survey that is very useful in allowing you to determine if you "think like a trader." That's the first thing that has to happen, regardless of what market you are trading. I'll be glad to send it to anyone who wants it, if you PM me.
 

Samuel23

Banned
Apr 20, 2012
171
1
0
Hi Lee, i would like to have this survey to see what types of questions regarding forex. I would be better if you can share it with everyone as a survey need to be private and you should know the person who fill it in. Wait to hear from you!
 
Apr 17, 2012
59
0
0
I have an attitude survey that is very useful in allowing you to determine if you "think like a trader." That's the first thing that has to happen, regardless of what market you are trading. I'll be glad to send it to anyone who wants it, if you PM me.
rarely that will be a good strategy to determine whether you are a good trader and gambler.

Please share this with us Raleigh...................
 

efexguy

Trader
Oct 11, 2012
2
0
12
Yes, I agree, emotions play a crucial part in forex. Without proper control over our emotions, we can end up with the wrong decisions...
 

Raleigh Lee

Trader
Oct 8, 2012
11
0
17
81
www.traderstao.com
Hi Lee, i would like to have this survey to see what types of questions regarding forex. I would be better if you can share it with everyone as a survey need to be private and you should know the person who fill it in. Wait to hear from you!

The survey is not specific for one market or another; it applies to all types of trading. It also has no correct or incorrect answers, but is designed to enable you to see how your thinking changes as you learn. Confidentiality, therefore, is not an issue; but it might be too long to post here.
 

Samuel23

Banned
Apr 20, 2012
171
1
0
The survey is not specific for one market or another; it applies to all types of trading. It also has no correct or incorrect answers, but is designed to enable you to see how your thinking changes as you learn. Confidentiality, therefore, is not an issue; but it might be too long to post here.

Alright Lee, i did not know that it was this type of survey you meant. However, it good that you have clear out thing regarding the survey. However, i am left quite disappointed you cannot share it with us on this Forum. Is there another way we can have it?? Thanks :)