For all you stock or forex traders out there.........?

Question

You know, i've been trading for at least more than 2 years. Literally, i've been sitting on the computer at least 6 hours a day. There was not one day, that I didnt sit on the computer studying the market. I've bought many things, and got scammed with my money. I've deposited money that was my monthly's salary, and lost all of those money, down to less than a dollar. I've tried every indicator there is. I retested one month, last month, thought it would refresh my mind, and give me good ideas. No, not at all, it didn't help. So, is threre anyone out there, that could help me? I promise, if you want me to keep it a secret, I will be glad to, I promise. But, if you want me to spread it, I will too. I keep promises, trust me. Right now, I am writing and studying the market, losing $200 on a position right now. :(

I don't know what to do. Can anyone out there, be really nice to someone in need, I would be the happiest man in history. I am in huge debt, I don't know what to do. Please!

Answer 1

Hi, sorry you lost your money and have been scammed but you should not be paying to learn how to trade. There is so much free information out on the web and the free information is usually better than the paid information.

I have been trading Forex for two years and had a rocky nine months at the begging. I lost $12,000 in nine months and as a student to me that was a lot of money!! Eventually I found free sites like babypips.com and forexfactory.com which both helped me tremedously.

After I found those sites I was doing pretty well, I would make consistent profit but I found myself always trying new indicators out and changing my system. About two or three months ago I found another site called www.forex4noobs.com (again a free site) and that helped me see Forex in a different light. After implementing some of the things from the site with what I learned from babypips I became truly profitable.

I really respect the owner of Forex4noobs. He can be a bit of an asshole sometimes but he is a wealth of knowledge and inspiration. He is inspirational because he is only 21 (been trading since 15) and he trades close to one million dollars. His trading method differs from most as he does not use indicators. Bellow is an excerpt of something he wrote on his site:

“The idea for this site is for me to teach you how I trade the Forex markets. I have been trading financial markets for 6 years now, Forex for 4 years and I consider myself a professional trader. Now my way of trading is a little unique: I do not set-up a few indicators and say “enter when this crosses this and that crosses that.” In fact, the first thing I say when teaching somebody my method is THROW YOUR INDICATORS IN THE BIN!!

Now that they are in the bin, we can learn to trade based solely on the information our charts give us. It’s a low stress, no confusion way of trading that is extremely effective.

It may seem impossible to trade without indicators but all I ask is that you keep an open mind and have a look through the site. It may just help you become a very successful trader.”

Answer 2

I'm sorry that you lost money. A loss does not mean you were "scammed"; it means that you made a mistake.

You seem to think that stock trading is like an hourly job, where if you put in the hours, you are entitled to be paid. It isn't. You get paid for being right.

Do you really believe that if there was some indicator out there that worked in a purely mechanical way, you and your little PC would find it while Goldman Sachs, Bear Strearns and all the big hedge funds with their massive computing horsepower will miss it?

Stop trading until you learn some more about how the market works. Start by reading "Random Walk Down Wall Street" and "Real Money". Good luck.

Answer 3

Certain, first, paying off your cash owed, reduce your spending, store frugally and start saving your coins. Begin finding out abt the stock marketplace at reward. Read the entire lot besides you observe what PE and ROI and each one of a kind acronym way and the way all of them fit in. That'll take 2 years. Then, open a brokerage account. They're the entire identical for probably the most segment. Try a couple of trades with five hundred dollars for a 12 months. Don't like one brokerage, are making an attempt a further. Try this for a 12 months. Do experiment trades in order that you conveniently be educated the quality situations to go into and go out and get a way for liquid marketplace endeavor. You'll lose coins however it must be hundreds of thousands as a substitute of hundreds of thousands. Do that for a year, as a minimum one or 2 trades every week and examine each trade for what you by and large did proper or mistaken. Then, at the same time you consider you're equipped, deposit the coins you could have stored the earlier 3 or 4 years and thoroughly convinced looking.