BUY FXO Forum Shares
1316
Shares in the BANK:
We BuyWe Sell
$1.8388$1.8957
Results 1 to 3 of 3

Thread: Why you get burned

  1. #1
    Bullish
    Join Date
    Mar 2009
    Location
    Mountains of colorado
    Posts
    59
    FXO Shares
    0
    FXO Bonus
    0.000
    Thanks
    0
    Thanked 1 Time in 1 Post

    Default Why you get burned

    I see it all the time.

    A trader with a "winning" system hits a losing streak and runs their margin account to near 0.

    Two things cause this.

    1) The traders own mentality as they lose often causes the person to make trades outside their system

    2) The system is "technical only"

    The worst is number 2. Technical only systems are DOOMED to failure, or at least periods of lackluster results.

    For the currencies you trade, do you know what fundamentals matter and how they affect price action?

    Please understand that I am not suggesting that you should "trade the news" but I am also telling you that ignoring the news is foolish.

    What I am REALLY saying is that you should know both the technical AND fundamental factors that drive the currencies you trade.

    I have contacts at the BoE, ECB, Fed, and RBA (australian central bank). I'm willing to explain several things happening with Euro, pound, Aussie, and USD both near and longer term as well as explaining several technical factors truly driving those currencies.

    Shoot me a PM if you're interested.

  2. #2
    Bullish
    Join Date
    Mar 2009
    Posts
    86
    FXO Shares
    0
    FXO Bonus
    0.000
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Default

    Yeah, I did got the taste of that today, my winning system, for your reason #2 lost me the entire weeks of effort

  3. #3
    Bullish
    Join Date
    Mar 2009
    Posts
    86
    FXO Shares
    0
    FXO Bonus
    0.000
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Default

    I got that experience first hand, your second postulate, I lost all my current weeks worth earning today

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
Disclaimer
2005-2017 © FXOpen All rights reserved. Various trademarks held by their respective owners.

Risk Warning:: Trading on the Forex market involves substantial risks, including complete possible loss of funds and other losses and is not suitable for all members. Clients should make an independent judgment as to whether trading is appropriate for them in the light of their financial condition, investment experience, risk tolerance and other factors.

FXOpen Markets Limited, a company duly registered in Nevis under the company No. C 42235. FXOpen is a member of The Financial Commission.

FXOpen AU Pty Ltd., a company authorised and regulated by the Australian Securities & Investments Commission (ASIC). AFSL 412871ABN 61 143 678 719.

FXOpen Ltd. a company registered in England and Wales under company number 07273392 and is authorised and regulated by the Financial Conduct Authority (previously, the Financial Services Authority) under FCA firm reference number 579202.

FXOpen does not provide services for United States residents.

Join us