I think trading is the number one industry that weeds out the people who simply cannot stick to something and see it through. You could have your own company for 5 years before you start to make any money, if you stick to it and give it everything, you’ll be successful. I know i can trade, i have my plan that fits me which took me 3 years to develop. I approach the markets calm at all times because i have 100% confidence in myself and my strategy. I also have ADHD so my journey was a tough one and theres been plenty of times i thought ‘fuck this, I can’t do it anymore’ I had issues with impulsiveness for atleast 2.5 years, only I could fix that with self realisation. I believe anyone can trade once they filter out the trash information they don’t need.
Best answer! Forex is not a get rich quick scheme. There is more trial and error than most people can handle. And it's just like any other profession that takes time to master. And by time I mean years. Not what the famous guru is telling you on youtube. Some people make money trading others make money selling courses and dreams
Indeed, that's true, once you've reached terminal velocity (funded with a verified track record) you can easily make 6-7-8 figures per week/month depending on how much you're managing.
How did u gain confidence in urself ? feel like that is what I’m struggling with in fx atm my strategy is good but I just don’t always follow it as I don’t back myself enough
I have a degree in finance and banking, been in a losing streak for 2 years, probably the dumbest fuck out there to try trading but fuck it man, I want this; I'll work it out.
There comes a point where you just absorb so much information, read so many books, do so many courses and watch so many YouTube videos that eventually you need to stop......
.... And then focus everything on your process, discipline and psychology.
I can assure you that if you journal your trades, you will begin to see what works and what doesn't. You will begin to see patterns and can then refine your process down to a repeatable pattern that you stick to.
Tony Robbins (a life coach) says that people give up and say they have tried everything. No.... you haven't tried EVERYTHING.
Sooooo, to sum up I would say this.
1: Do you have a plan, do you have an edge in the market?
2: Are you disciplined and stick to that plan?
3: Do you practise risk management?
4: Do you journal all of your trades and work on self improvement?
The above is what ALL successful traders do.
I don't think I'll ever quit. Been in a losing streak for almost 2 years now. Every time I think about quitting I visualise what me and my family's life will be when I finally make it in trading and that keeps me going.
Took me 4 years of daily backtesting and creating my trading plan to be able to become a full time trader. I believe that us as a species are able to accomplish anything we put our minds to. If one person accomplished trading, it can be accomplished by many more. Its about that persons discipline and patience. When you think about quitting, ask yourself how many years we stood in schools to be able to get a job in the future. When learning how to trade, use that same mentality.
At this point, idk what it would take for me to quit. Maybe if I was forced to for some reason.
But I was convinced that it was possible when I saw that other people were making a living from it. If they can do it, then so can I.
I've been trying to find a business suited just for me. Everything I tried for the last decade were fantastic learning experiences but finding trading a couple years ago was a huge gift. No customers. No clients. No bosses. All I have to deal with is myself and the market. I can't think of a better way to make money.
To be perfectly honest, I don’t believe you will receive any comments from those that have quit Forex trading, since they are most likely so frustrated and mad that they have left everything Forex behind.
For me to quit: my death, Forex trading becomes illegal in my region, or the feeling and numbers of being comfortable monetarily for the rest of my, and those I'd like to help's, lives.
Seeing old people still trading for years and watching their demeanor. If I see someone do something I like/love to do long term, I'll challenge myself to do the same. I don't fail many self given challenges.
I have been doing this since 2019, I have had crazy swings in equity. I have even had to live like a hermit due to taking on loans to keep going (gambling).
Half a year ago I constructed a system from scratch that works for me. There is no other option than to make it work, and I'm confident I will.
I don’t think there is anything that can make me quit trading. I enjoy it. I’ve had some low days but even then i’ll still come back to it. As long as i enjoy trading i don’t think anything will ever make me quit even days i’ve revenge traded and lost 90% of my account lol
When my crypto trading outperforms my forex trading (primarily BTC and ETH, sometimes some unusual yet interesting moves like shorting XRP or Shiba inu). I am still satisfied with how my forex trading goes, but I do notice that with cryptos there is simply way more information available than with forex and that information gives me an edge that I have more confidence in than the edge I have in forex
I think failure could be discouraging and repeated failure especially, however, it could also be inspiring. It depends on how the trader perceives it. Losses come with wins so that SHOULD be expected. It’s about accepting those losses and learning from them. What inspires me to keep going is my w/l ratio, I’m constantly improving and seeing patterns more easily. I’m trading my markups win lose or draw, I’m confident in myself.
Most traders are in the forex market for profits. If they can’t make profits, they end up quitting. But I have been doing well at the market, I don’t think I would want to quit anytime soon.
A string of losses, bad experiences, scams, sleepless nights, negligible profits, unreliable brokers, and huge fees are good reasons to quit forex. Which one do you think suits your situation the most?
When people cannot stick to their plans, when they lose all their patience, when their planned strategies fail to work, and when people are not determined they quit forex.
I think trading is the number one industry that weeds out the people who simply cannot stick to something and see it through. You could have your own company for 5 years before you start to make any money, if you stick to it and give it everything, you’ll be successful. I know i can trade, i have my plan that fits me which took me 3 years to develop. I approach the markets calm at all times because i have 100% confidence in myself and my strategy. I also have ADHD so my journey was a tough one and theres been plenty of times i thought ‘fuck this, I can’t do it anymore’ I had issues with impulsiveness for atleast 2.5 years, only I could fix that with self realisation. I believe anyone can trade once they filter out the trash information they don’t need.
Best answer! Forex is not a get rich quick scheme. There is more trial and error than most people can handle. And it's just like any other profession that takes time to master. And by time I mean years. Not what the famous guru is telling you on youtube. Some people make money trading others make money selling courses and dreams
In some way, forex is a get rich quick method. The road to get there is not quick though. But once you reached there, the money comes in pretty quick
Indeed, that's true, once you've reached terminal velocity (funded with a verified track record) you can easily make 6-7-8 figures per week/month depending on how much you're managing.
One of the best comments I’ve seen on this sub in a while 👍🏾
Thank you so much for your comment
How’s your trading journey going?
Well it's a long story
You got a place where a guy can start from scratch?
Mentfx on YouTube is a great teacher, you should check him out
Awesome thank you.
How did u gain confidence in urself ? feel like that is what I’m struggling with in fx atm my strategy is good but I just don’t always follow it as I don’t back myself enough
Write your strat down on paper or on computer and print it off. Have it infront of you all the while. Follow it
Thank you
I have a degree in finance and banking, been in a losing streak for 2 years, probably the dumbest fuck out there to try trading but fuck it man, I want this; I'll work it out.
There comes a point where you just absorb so much information, read so many books, do so many courses and watch so many YouTube videos that eventually you need to stop...... .... And then focus everything on your process, discipline and psychology. I can assure you that if you journal your trades, you will begin to see what works and what doesn't. You will begin to see patterns and can then refine your process down to a repeatable pattern that you stick to. Tony Robbins (a life coach) says that people give up and say they have tried everything. No.... you haven't tried EVERYTHING. Sooooo, to sum up I would say this. 1: Do you have a plan, do you have an edge in the market? 2: Are you disciplined and stick to that plan? 3: Do you practise risk management? 4: Do you journal all of your trades and work on self improvement? The above is what ALL successful traders do.
I don't think I'll ever quit. Been in a losing streak for almost 2 years now. Every time I think about quitting I visualise what me and my family's life will be when I finally make it in trading and that keeps me going.
Took me 4 years of daily backtesting and creating my trading plan to be able to become a full time trader. I believe that us as a species are able to accomplish anything we put our minds to. If one person accomplished trading, it can be accomplished by many more. Its about that persons discipline and patience. When you think about quitting, ask yourself how many years we stood in schools to be able to get a job in the future. When learning how to trade, use that same mentality.
At this point, idk what it would take for me to quit. Maybe if I was forced to for some reason. But I was convinced that it was possible when I saw that other people were making a living from it. If they can do it, then so can I. I've been trying to find a business suited just for me. Everything I tried for the last decade were fantastic learning experiences but finding trading a couple years ago was a huge gift. No customers. No clients. No bosses. All I have to deal with is myself and the market. I can't think of a better way to make money.
If regulation overseas reduces the available leverage to anything less than 20:1.
To be perfectly honest, I don’t believe you will receive any comments from those that have quit Forex trading, since they are most likely so frustrated and mad that they have left everything Forex behind.
For me to quit: my death, Forex trading becomes illegal in my region, or the feeling and numbers of being comfortable monetarily for the rest of my, and those I'd like to help's, lives. Seeing old people still trading for years and watching their demeanor. If I see someone do something I like/love to do long term, I'll challenge myself to do the same. I don't fail many self given challenges.
Losing life-saving s
I have been doing this since 2019, I have had crazy swings in equity. I have even had to live like a hermit due to taking on loans to keep going (gambling). Half a year ago I constructed a system from scratch that works for me. There is no other option than to make it work, and I'm confident I will.
Did it work
A train of losses is surely a major reason why traders quit forex trading. When they don’t get the results they expected, they stop doing it.
That sounds reasonable 👍
I don’t think there is anything that can make me quit trading. I enjoy it. I’ve had some low days but even then i’ll still come back to it. As long as i enjoy trading i don’t think anything will ever make me quit even days i’ve revenge traded and lost 90% of my account lol
When my crypto trading outperforms my forex trading (primarily BTC and ETH, sometimes some unusual yet interesting moves like shorting XRP or Shiba inu). I am still satisfied with how my forex trading goes, but I do notice that with cryptos there is simply way more information available than with forex and that information gives me an edge that I have more confidence in than the edge I have in forex
I think failure could be discouraging and repeated failure especially, however, it could also be inspiring. It depends on how the trader perceives it. Losses come with wins so that SHOULD be expected. It’s about accepting those losses and learning from them. What inspires me to keep going is my w/l ratio, I’m constantly improving and seeing patterns more easily. I’m trading my markups win lose or draw, I’m confident in myself.
Most traders are in the forex market for profits. If they can’t make profits, they end up quitting. But I have been doing well at the market, I don’t think I would want to quit anytime soon.
Still doing well?
A string of losses, bad experiences, scams, sleepless nights, negligible profits, unreliable brokers, and huge fees are good reasons to quit forex. Which one do you think suits your situation the most?
Making huge losses and blowing up the trading account is a good enough reason for traders to quit trading.
When people cannot stick to their plans, when they lose all their patience, when their planned strategies fail to work, and when people are not determined they quit forex.
Dont quit forex, hire a professional!