What should I do? Losing lots of money!

I was about about 1.4 million then took a hit of 40k. it's currencies, no worries.

just make another 590k

pretty simple markets

i do help traders for 100k a year.

small price to pay.
 
Quote from crgarcia:

Read the book Fooled by Randomness.

You are just fooling yourself by pretending you can find an order in highly random data.
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If you mean to say you can't profit from random data and from black swans you didn't understand Fooled by Randomness.
 
You're trading with too much, I reckon you should set the money you have and just start off again with a small amount, that way you'll be forced to be careful with the money you have instead of just pissing it away.

>_< *sigh* I really need to get into trading properly sometime so my advice is more valid, getting a job in this country is hell.
 
Quote from PPT:

I was about about 1.4 million then took a hit of 40k. it's currencies, no worries.

just make another 590k

pretty simple markets

i do help traders for 100k a year.

small price to pay.
More...


where should i send the money?

i cant wait any longer
 
Quote from kqgone2da:

I started trading foreign exchange futures at the beginning of the year. Until two weeks ago, I was up about 590,000. But the GBP (UK Pound) has been kicking my ass lately. I've made most of my money in GBP, but in just two weeks I've lost 107,000. Should I back out completely for a while, or keep swinging? I'm livid - short on the way up, then a big correction on the UK GDP # and the bot is getting me long. Can't win!
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================
KG;
I like the question a new trader asked here once;
''how come the market ALWAYS reverses when i enter''??????????????????????????????????????????????????????

Another more skilled trader said ''reduce your size!!'' LOL-but true:D
 
What changed? Your strategy, execution... the market?

I agree with most of the guys on here... if you don't have a solid risk management structure, you need to take a step back.
 
Quote from kqgone2da:

I started trading foreign exchange futures at the beginning of the year. Until two weeks ago, I was up about 590,000. But the GBP (UK Pound) has been kicking my ass lately. I've made most of my money in GBP, but in just two weeks I've lost 107,000. Should I back out completely for a while, or keep swinging? I'm livid - short on the way up, then a big correction on the UK GDP # and the bot is getting me long. Can't win!
More...

you ask, what should you do?

seriously?

ok, lose more.

until you've learned you lesson...


and that lesson is using humor to overcome your shortcomings, some can be, some can't be, however, use humor, and see the patterns in the chaos (chaotic number theory, or ergodic numbers), as well as proper risk manangement (which your broker who has an obligation to your commissions can properly explain)....
 
Also gamblers are the ones who always go for Forex.

Real traders do not play forex.


Forex is for financial institutes to hedge against currency risk,etc..
 
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