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Dilemma: Dapat na ba akong tumigil sa pagtrade sa Forex Market?

proudtobepinoy · 57 · 7956

proudtobepinoy

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Just this week nagbukas ako ng account sa isang online forex broker
to start trading, I wanted additional income din kasi kahit 50 to 100 pesos lang per day
I deposited 10k (since 10k lang naman yung minimum investment amount nila)
yung 10k na yun is not a part of my emergency funds whatsoever, just risk capital
By the way matagal-tagal na rin akong nagiinvest and nagtatrade sa philippine stock market kaya naisip kong to try my skills in forex

Pero Bago ako nagbukas I made sure naman to be ready
I made all preparations
including:
Learning Technical Analysis
Spending Time for planning my trades
Trying on a demo account (which ok naman, nagga-gain naman ako)

Unfortunately when I started trading, no matter how much I planned, analyzed, and even check on websites to confirm my analysis,
it quickly turned to losses
So after 1 week of trading naging 1,200 na lang ang 10k ko
I don't know what to feel now, at first I really accepted to risk that 10k
pero after this experience I felt na parang nasayang lang ang 10k ko
So I realized din stocks and forex are way different

Dapat lang bang tumigil na ako sa pagtrade Forex market? or continue trading para mabawi ko yung 10k from what I have left
« Last Edit: Sep 06, 2013, 03:05 PM by proudtobepinoy »


singkit_1588

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Just this week nagbukas ako ng account sa isang online forex broker
to start trading, I wanted additional income din kasi kahit 50 to 100 pesos lang per day
I deposited 10k (since 10k lang naman yung minimum investment amount nila)
yung 10k na yun is not a part of my emergency funds whatsoever, just risk capital
By the way matagal-tagal na rin akong nagiinvest and nagtatrade sa philippine stock market kaya naisip kong to try my skills in forex

Pero Bago ako nagbukas I made sure naman to be ready
I made all preparations
including:
Learning Technical Analysis
Spending Time for planning my trades
Trying on a demo account (which ok naman, nagga-gain naman ako)

Unfortunately when I started trading, no matter how much I planned, analyzed, and even check on websites to confirm my analysis,
it quickly turned to losses
So after 1 week of trading naging 1,200 na lang ang 10k ko
I don't know what to feel now, at first I really accepted to risk that 10k
pero after this experience I felt na parang nasayang lang ang 10k ko
So I realized din stocks and forex are way different

Dapat lang bang tumigil na ako sa pagtrade Forex market? or continue trading para mabawi ko yung 10k from what I have left
1 week lng un??
ask yourself, what went wrong?


poojim

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What, 10k naubos ng isang linggo? Dollar ba to?
Since 50 to 100 PHP lang naman ang target mo per day, I assume na microlots (0.01) lang yang tinerade mo?


DavidApol

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Just this week nagbukas ako ng account sa isang online forex broker
to start trading, I wanted additional income din kasi kahit 50 to 100 pesos lang per day
I deposited 10k (since 10k lang naman yung minimum investment amount nila)
yung 10k na yun is not a part of my emergency funds whatsoever, just risk capital
By the way matagal-tagal na rin akong nagiinvest and nagtatrade sa philippine stock market kaya naisip kong to try my skills in forex

Pero Bago ako nagbukas I made sure naman to be ready
I made all preparations
including:
Learning Technical Analysis
Spending Time for planning my trades
Trying on a demo account (which ok naman, nagga-gain naman ako)

Unfortunately when I started trading, no matter how much I planned, analyzed, and even check on websites to confirm my analysis,
it quickly turned to losses
So after 1 week of trading naging 1,200 na lang ang 10k ko
I don't know what to feel now, at first I really accepted to risk that 10k
pero after this experience I felt na parang nasayang lang ang 10k ko
So I realized din stocks and forex are way different

Dapat lang bang tumigil na ako sa pagtrade Forex market? or continue trading para mabawi ko yung 10k from what I have left

Sir ano yung trading style niyo? Is it scalping, swing, etc.? Did you make proper risk management in which you are going to be risking only a certain amount of your account per trade? Did you prepare a trading journal to keep track of your wins/losses + the mistakes you have made as to not repeat them again?

For the meantime, I am assuming you are feeling a little down. If that is the case, a week off from trading will do you good. Take your mind off forex trading for the next couple of days. :)


proudtobepinoy

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1 week lng un??
ask yourself, what went wrong?


I don't know what went wrong, I had all plans set up
I mean from setting up stop losses, everything, but most of my trades ends up going to the stop loss I've set

Sir ano yung trading style niyo? Is it scalping, swing, etc.? Did you make proper risk management in which you are going to be risking only a certain amount of your account per trade? Did you prepare a trading journal to keep track of your wins/losses + the mistakes you have made as to not repeat them again?

For the meantime, I am assuming you are feeling a little down. If that is the case, a week off from trading will do you good. Take your mind off forex trading for the next couple of days. :)


scalping, since goal ko naman is 50 to 100 a day, I only traded microlots from .01 to .05,
I have a journal
mistakes? I don't even know where I went wrong, I had all thorough analysis, I prepared everything, even searched the net for analysis to confirm my own, but most of my trades ends up going to the stop loss no matter I analyze the charts

What, 10k naubos ng isang linggo? Dollar ba to?
Since 50 to 100 PHP lang naman ang target mo per day, I assume na microlots (0.01) lang yang tinerade mo?


peso, yes it's microlots, yun lang ang afford kahit with margin
« Last Edit: Sep 06, 2013, 05:58 PM by proudtobepinoy »


INDO

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Stop trading for a moment. Review mo bro yung trading plan mo... modify mo then try it uli sa demo account to test your modified strategy. If OK, then back to business again. Good Luck!

usually ako, pag consecutive na loss ko, hinto muna ako sa pag tetrade, review ko yung mga strategy bago mag test uli sa new strategy, so far ok naman. by the way stock market lang pala ako ha, hindi sa forex but maapply mo din yun kasi trading pa rin pinag-uusapan.


proudtobepinoy

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^IMO trading forex and stock market is magkaiba totally
same indicators nga since magagamit mo rin ang SMA, MACD, etc.plus same technical analysis
pero the two markets are very different that's what I experienced from trading both stocks and forex

I don't know eh pero after this rather unpleasant experience parang discouraging na rin magpatuloy sa pagtrade
« Last Edit: Sep 06, 2013, 07:28 PM by proudtobepinoy »


mango_tomato

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I am not considering myself a pro pero I hope this can help, there are alot of forex broker na mga $100 or like may cents account lang try mo muna dun atleast hindi ganun kalaki yung iririsk mo since micro lot lang naman yung pagtetrade mo then yung earnings mo example naka gain ka na ng profits i-sure mo na itransfer mo na sya sa bank account mo para sure na may profit ka. Yun kasi ginagawa ko and pag feeling ko enough na yung profit ko kahit hindi ganun kalaki stop ko na kasi mabilis magbago ang trend like this week and last week sobrang down ang eurusd.


proudtobepinoy

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^Php10k ($200) na pinakamaliit nakita ko so far I don't know lang

With only Php1,200 (around $30 to $40 ata siya) parang discouraging nang magtrade
I don't know what to do, kasi kung iisipin mo kapag nagtrade ka pa tapos naglose baka maging 800 na lang matira or worse go down to 0
« Last Edit: Sep 06, 2013, 09:04 PM by proudtobepinoy »


ferrariEverest

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kaya yata maraming ayaw or umaalis ng Forex na Pinoys at dun na lang sa stocks, kasi nga magkaiba e. masyado mabilis at magalaw ang FX.

gano katagal ka naghanda at nagdemo?
sobra bilis mo naman balak mag-quit Sir. 1 week lang?

#1 Depende sa trading style mo, DO NOT expect na kikita ka araw araw, considering bago ka pa lang. Hindi ATM ang trading na naglalabas ng pera para sa iyo araw araw. This is a very harmful perspective. burahin mo yan sa isip mo.

#2 tandaan mo na natural ang losses, kahit ilang years na ang experience mo, magkakaroon ka pa rin ng losses.

#3 wag mo masyado pahirapan sarili mo (stress, regrets, self-blame). Natural magkamali sa trading. wag mo i-relate ang background/profession mo sa trading kasi it won't matter.
kung successful ka sa profession mo, that won't guarantee na magiging successful ka rin sa trading.... and vice versa: kung d ka nagtagumpay sa past jobs mo, it doesn't mean papalya ka rin sa trading.

base sa replies mo dito... back to drawing board, practice ka pa Sir. back to demo muna. yan lang kailangan mo saka pahinga.

isipin mo first time mo gumamit ng bike. natumba ka lang at nagasgasan, magki-quit ka na ba agad? parang ganyan lang ang naranasan mo ngayon. Cheer up! importante LEARN from your mistakes. bumangon ka at magpagpag, tapos sumubok ka uli 1-2 years from now.

Good luck Sir!
« Last Edit: Sep 06, 2013, 09:26 PM by ferrariEverest »


proudtobepinoy

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^About six months learning technicals and 2 months learning in demo accounts

pero natural lang ba talagang ganito kalaki ang loss?


ferrariEverest

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year learning, and two months in demo? sobrang kulang yan.

prangkahin kita, maliit AT mabagal pa yang loss mo.

For now, wag ka magconcentrate sa loss mo (stress). Be kind to your self. Acknowledge your mistakes. magfocus ka sa pag-review ng trades mo para malaman mo mistakes mo.

Obviously, nasa stage ka na tinatawag na "unconscious incompetence." the main issue is kulang ka pa sa knowledge pero sumabak ka na agad sa gyera (live trading).

jan ka dapat mag umpisa - practice, basa, practice. That's the best you could do right now.


*4 stages
1. unconscious incompetence (you DON'T know what you do not know)
2. conscious incompetence (you DO know what you do not know)
3. unconscious competence
4. conscious competence


proudtobepinoy

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I see, thanks for the encouragement plus advice,
talagang kailangan ko ngang a week away from my live account, and learn before going in again


INDO

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 :thankyou: sir ferrariEverest... kahit para kay proudtobepinoy yung message mo, maapply ko din ito  :D

sabi nga din ng kaibigan ko, talagang mabilis yung forex kaya dinidiscourage nya akong mag forex kasi nga baguhan pa din ako sa trading. aral aral muna.


poojim

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ah pesos pla. So more or less $250, posible nga na maubos to ng 1 week.
Did you set SL or TP; or you do scalping?


 


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