eToro – Forex Trading Forum

[Tropezienne]

After only four months as a forex trader, I have discovered that I have an incredible gift. I am, by the simple act of opening a position, able to make the market move in the opposite direction!

So powerful is the gift that reverse psychology has no effect! I can quietly reverse my position - and the gift ensures a complete market turnaround within seconds.

I see no harm in trying to profit from my gift so, please, send me valid credit card details, or cash, and for only 99.99 euros I shall send you daily, automated emails with details of which currency pairs you need to sell or buy in order to trade against the market.

Choose to lose with me now - and for one day only you can have this package for the amazing knock-down price of 49.99 euros !

Seriously ? We need to look at risk management. There are already some good posts on this forum about risk management. I shall be adding a very simple one shortly.

from Julie – a fellow newbie.

Blog : http://who-gives-a-forex.blogspot.com/

[forexBull]

After only four months as a forex trader, I have discovered that I have an incredible gift. I am, by the simple act of opening a position, able to make the market move in the opposite direction!
/

well, if you really have a gift than you are truly lucky, just tell a friend to do exactly the opposite of what you do, If you buy 10,000$ EURUSD now than let him sell 100,000$ EURUSD at the same moment- this way your gift is working for you-split the profits of course.
If somebody has no system at all, you can say his chance to be right about the direction of the market is 50:50,
But if you say you have a gift, even when it’s supposedly a bad one, you can still make it work for you!

But let me tell you out of my own experience, I heard so many traders saying the same thing. They have a feeling the market is aware of what they are doing and reacts always badly to their action. For example, you buy EURUSD at 1.5520 and S/L at 1.5490, the market then drupes immediately down to 1.5489 triggers your stop loss and then goes straight up all the way to 1.56
But the bottom line is that it is a psychological issue, and it is cased by inexperience, If you will continue trading further (using a good system of course), I bet your gift will be gone as quickly as it came.

[Tropezienne]

Hi forexBull - please be assured that my tongue was very firmly in my cheek when I wrote my post. I have no forex-related gifts - and I’m sure that they don’t exist. I do think, from all the research I’ve done on the internet, that some people seem to be able to trade successfully based on their « gut feelings ».

But what are gut feelings ? They are really the end product of a lot of background work, study and research - whatever the area of work, and in forex trading as in other areas.

I’m a pretty good knitter and after years of making garments I get a gut feelings that to increase or decrease stitches, even when the pattern doesn’t indicate that I should, would improve whatever it is that I‘m making. I’m usually right (and sometimes disastrously wrong!).

The same must go for forex trading. And I have many paths to tread before I’ll trust my gut feelings with real money in forex.

I’m enjoying your posts by the way.

From Julie the forex newbie

[Tropezienne]

My ‘gift’ is in decline. I have actually made a few great trades - "great trades" for me bring me little gains of about 15 to 20 pips or less; and a number of good trades - "good trades" are when I gain 10 pips or less.

These trades have been made as a result of my informed assessment of the situation and, over this last week, of a little scalping system I have devised for myself using the new improved and much faster eToro charts.

So, my ‘gift’ of happy ignorance in whichI blithely traded a position which ‘seemed’ good and invariably lost and then also lost for me if I reveresed it - is slowly fading away under the weight of my forex education.

Those of you who read my posts here and have visited my blog will know that as a complete newbie I have advocated starting with the basics and with what buddhists call’beginner’s mind’.

It’s still good advice - although I might soon promote myself from’newbie’ to ‘newbie -1’ in a structure where ‘ready to trade with real money would require a ‘newbie - 10’

Julie the Newbie -1

http://who-gives-a-forex.blogspot.com/