Because of the casino-like nature of trading. It's getting better, but I think it needs more regulation of brokers and a more transparent market.
I think futures (minis) are a better choice, but I would love to get into Forex if things change a bit. I will look at the new truly "ECN" brokers, but so many of them lie about what they do that I find it difficult to know what to believe.
My name is Ermalinda and I'm a Forex trader. My equity curve is like a roller coaster. So currently my main focus is on discipline. I have been hard at work completing my trading plan and backtesting (& forward testing) counter-trend system I am using. I'm a pattern-based, price action day trader. I hope to use this active community of fellow traders for inspiration and commiseration. Also, I look forward to participating and facillitating the exchange of useful information.
Saint Peter was at the pearly gates...knocking. He hears a voice "Who is there?" God asked. Saint Peter said "it is I god". God dismissed Saint Peter.
Saint Peter returned the next morning...and again...knocked to get in the pearly gates...and again God calls out "Who is there?"....and again Saint Peter answered "It is I God."...and again God sends him away.
Of course Saint Peter returns again and knocks to enter the pearly gates...he is asked by God "Who is there?"
......and Saint Peter answers "It is thou"...and the gates open.
"Rely not on the teacher, but on the teaching.
Rely not on the words of the teaching, but on the spirit of the words.
Rely not on theory, but on experience.
Do not believe in anything simply because you have heard it.
Do not believe in traditions because they have been handed down for many generations.
Do not believe anything because it is spoken and rumored by many.
Do not believe in anything because it is written in your religious books.
Do not believe in anything merely on the authority of your teachers and elders.
But after observation and analysis, when you find that anything agrees with reason and is conducive to the good and the benefit of one and all, then accept it and live up to it."
I've been apart of the forum for about a year and i've been sim trading very succefuly off and on, on es. I have recently been turned onto forex, and i have schrounged up 5000 to have a good start at a trading account to trade 2 contracts - 2% of my account which is what im wiling to risk each trade- and go from there. The sky is the limit from what I'm am seeing in my sim results... I, just trying to see if anyone out there has any historical data for EURJPY or GBPUSD out there so i can start getting used to those instruments since they do trade a little differently, if you know what i mean. . any help would be greatly appreciated. Thanks in advanced.
I have been with this forum from almost the open. Along with many others, I had forums like the list of indicators offered here, and i used so many indicators that
my computer almost melted lol....Ive been trading for approx 10yrs, Ive had my walks of shame :-( and blown accts :-(, this was early and thank GOD I was a quick to learn. In the end I have 1 forum, BIGMIKES, and few indicators, I trade only 1 contract CL, there is much power in 1 contract....., I also want to share that awhile back I opened a futures acct and the first day lost 17k of a 25k acct.....my sister was with me and we were like..WHAT....freaking....some of you know what I mean, so I called the desk , of course to see if there was a mistake...RIGHT.....and the guy said " you think you lost what".....i was taken back as I knew he was dumping my position.....then he said "hang on a sec, I dont show you were trading LIVE.....but let me put you on hold and check for sure" I was on hold for 5 min absolutely SH%$%^& my pants.......and then I said a prayer to my GOD no big deal here, everyone has ther own or not., but for me I was praying so hard and I promised my GOD that I would give 20% immediately to the chruch, or just any good cause for the world, help with people who needed it more than me,because I beleive you must give to those more in need than yourself, youll be taking care of fine :-) trust me...........Guess what......guy came back on and said I was on SIM, I had no idea!,....so happy.....BUT....I never followed through with my prayer, I never gave 20%, it was more importane to trade it :-(, I soon blew that acct and was HUMBLED. I know beleive two thinks absolutely to be true 1. If you tell HIM your going to do something, DO IT!, also give to less fortunate when market is generous to you. I have read many posts on here and not taken the time to say thanks, I apologize and want
TO THANK EVERONE :-) ,
Today I do well for myself trading, I feel very blessded! , I trade with a 1min,5min,1hr chart, 1 indicator, 1contract. I am happy to be here. Thank you
The following 2 users say Thank You to esmini for this post:
I look forward to taking part in the forum and contributing in any way possible. I've been trading the ES since Jan 2007. I traded part-time until Feb 2010 though. My main struggle has and continues to be mental discipline, but I have made great progress in that area and hope to be able to overcome it.