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Forex Diseases affecting many traders

Discussion in 'Mess Hall' started by pauolo, Jun 25, 2012.

  1. pauolo

    pauolo Banned

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    Hello traders!


    I would like to congratulate you all for taking your time to challenge the financial market whether you are winner or loser.

    Also I would like to share few points from institute for forex related diseases with head quoter at New sky street 3300 NY :))
    Many traders have been reported to have suffered severe heart related diseases ranging from acute to chronic phase hypertension due to unfavorable market outcome.

    Meanwhile , many cases of decubitus were reported to have affected huge number of traders for sitting hours watching the market cycle .

    Now traders should learn more ways to avoid being trapped in these prevailing market diseases.

    Share your thoughts on how to improve this matter.


    happy tradings :)))))))) lol
     
  2. Pharaoh

    Pharaoh Colonel

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    I recommend applying a strong dose of reasonably stoplosses and well as liberal use of trailing stops.
     
  3. Sub-zero

    Sub-zero Private

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    I think its quite typical for professionals of all kinds to have strong feelings on their jobs. For example, managers (those who's job is to manage actually people, not a PC) are living on the edge of stress. The only solution for this is to find a balance deep inside you and not to tend to overreacting.

    But advices of Pharaoh can sure be helpful too!
     
  4. pauolo

    pauolo Banned

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    Definitely !
    Pharaoh hit a nice advice because many traders avoids sl points and finds their capital wiped very fast .

    I strongly recommend that point and as well traders should try to understand their mistakes , what led us to lose we should try to understand and to apply more research onto it.
    Also from my observations , most traders believe one most make money instantly as market moves up and down and hereby hit their buy and sell buttons as soon as they see market running down or up:D
    Putting more effort to observe the market trend and can help us as well as avoiding trading very little time frame which requires sitting always watching market change in trend. If one can trade for 5mins tf for example and opens buy EUR/USD and market is angry against him , with bad motions he might decide to watch the market whole day until sl is hurt . mean while if one is able to tactfully observe larger time frames it might aid as market trend would change more longer time. :)
     
  5. Kingrex

    Kingrex Corporal

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    one day my wife says to me " but dear why do you risk so much and stress yourself and your margin?" .... 14 words changed my trading life!...I heard Angels sing..I could see that heart attack at 40 disappear poof...from the mouths of babes come words of perfected praise..
     
  6. Joh

    Joh Sergeant Major

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    I agree with both of you and Pauolo. -
    This could be avoided but unfortunately many traders get sucked into the Forex with huge promise of profits and offered 50K demo accounts. No wonders after playing with that for a few weeks/months they 'feel' almost master in a 50k playing field - they are inclined to ignore others words of advise and misfortunes.
    Sadly it is not until their hard earned 1-2-3k/10k of real money quickly evaporates, because their brain neurological pathways are geared to working/playing with 50k, that they seem to get the message (well some anyway).
    Then they work long long hours trying to recoup their losses - in my humble opinion, having 'been' there - put yr acc. on hold stop trading and study Sive's book here on FPA instead, follow the rules and you will see your money again.
     
  7. Aesop02

    Aesop02 Private, 1st Class

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    I've watched Forex Trading turn hair grey more or less overnight, it's a pretty worrying sight :(
     
  8. FreddyFX

    FreddyFX Sergeant

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    Many won't agree with my points of view about trading.

    1. stop believing the broker is on your side.

    2. stop trading with stoploss.

    3. capitalize your account the proper way.

    4. there is work time and relax time.

    and maybe a bit harder to achieve, come live in Mexico, close to the sea, nice food and nice weather all year through !!!
     
  9. Pharaoh

    Pharaoh Colonel

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    I agree with 1, 3, and 4. #2 is incredibly risky. What if that broker (which we've agreed is not on your side) cuts your connection just as a big market move against you begins? What if your internet connection goes down at a bad time? What if you are getting a cold beer out of the fridge and making some popcorn when a central bank makes a surprise interest rate adjustment?

    If you are worried about your broker hunting your stops, then put an "emergency stop loss" farther out than your "secret mental stoploss". It needs to be close enough to protect your account from ruin, but far enough way to make it difficult for a bad broker to slip in a spike just to kill your position.
     
  10. Aesop02

    Aesop02 Private, 1st Class

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    Everything he says! Not having a StopLoss is really really risky.
     

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