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Thread: Hello Everyone

  1. #1
    Active Member mani ana's Avatar

    Hello Everyone mani from Western Australia !!!

    Hi everybody, I am Mani from Perth Australia. I am a staying at home mom with 2 kids, younger one is 6 months old. I have been learning forex for nearly 6 years and lost decent amount of money unfortunately. Now for the past 1 1/2 years been into binary and lost lots of money here too . finally decided to learn before leap. so joined this community and educating myself somewhat. very much looking forward for all your guidance and suggestions and helping hand in my learning path.
    thanks
    Last edited by mani ana; 03-18-2016 at 12:04 PM.

  2. #2
    Veteran Member Ronnel's Avatar
    Quote Originally Posted by mani ana View Post
    Hi everybody, I am Mani from Perth Australia. I am a staying at home mom with 2 kids, younger one is 6 months old. I have been learning forex for nearly 6 years and lost decent amount of money unfortunately. Now for the past 1 1/2 years been into binary and lost lots of money here too . finally decided to learn before leap. so joined this community and educating myself somewhat. very much looking forward for all your guidance and suggestions and helping hand in my learning path.
    thanks
    Welcome to CommuniTraders!

    By your trading experience I'm sure you know lots about strategies, systems, trading concepts, etc. So basically you are not a newbie anymore so my question is what may be the problem? Is your strategy not good, your patience too thin, need to get more schooling, you trade the when there is less volatility, you lose concentration easily, etc... or your money management style is not working for you? I think you are the only person who can answer these questions but if you need help, there are many of us here who can probably be of some guidance.

    Wishing you lots of ITMs!
    Duct Tape can't fix OTM

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  4. #3
    Active Member mani ana's Avatar
    thanks a lot for your valuable reply and warm welcome.

    Well the problem is I have been learning about a lot of technical ananlysis like MACD, RSI,Moving averages, Fib and all. I am like Master of all trades, Jack of none other. I am not following them actually. I did not have the so called trade discipline. I don't have the patience to wait. If I see any trade, I immediately jump on it. May be U will think me as a lunatic. But still this is my situation. I studies for sometimes and I invest some money. I forgot everything else while the money is in my account. after the money in my account vanishes away, I am coming to the reality and kicking myself for being such a stupid.

    I don't usually trade during Asian market as the market is less volatile and lost considerable amount of money.
    London open and 2 hours after US open is the time I like to trade. But I couldn't sit at a stretch without any disturbance due to family commitments..

    Besides all these, I still love forex and Binary market. I don't expect to become millionaire overnight. But I strongly believe that, with my trading I can contribute somewhat to reduce the financial burden of my family, to do some good things for my kids. But I honestly don't know where to start.

    do you think that I can withstand in this ocean with all my above mentioned disabilities ?

    is there any psychological books or videos to better tune my mind?

    plz help me where to go from here
    Quote Originally Posted by Ronnel View Post
    Welcome to CommuniTraders!

    By your trading experience I'm sure you know lots about strategies, systems, trading concepts, etc. So basically you are not a newbie anymore so my question is what may be the problem? Is your strategy not good, your patience too thin, need to get more schooling, you trade the when there is less volatility, you lose concentration easily, etc... or your money management style is not working for you? I think you are the only person who can answer these questions but if you need help, there are many of us here who can probably be of some guidance.

    Wishing you lots of ITMs!

  5. #4
    Legendry Member milos's Avatar
    Hello Mani!

    Welcome in the forum.I see you like to trade the best trading hours when EU and US markets are opened.You have experience in forex. You do own trading skills. You can test CT demo account.

    Happy trading!

    Milos

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  7. #5
    Veteran Member Ronnel's Avatar
    Quote Originally Posted by mani ana View Post
    thanks a lot for your valuable reply and warm welcome.

    Well the problem is I have been learning about a lot of technical ananlysis like MACD, RSI,Moving averages, Fib and all. I am like Master of all trades, Jack of none other. I am not following them actually. I did not have the so called trade discipline. I don't have the patience to wait. If I see any trade, I immediately jump on it. May be U will think me as a lunatic. But still this is my situation. I studies for sometimes and I invest some money. I forgot everything else while the money is in my account. after the money in my account vanishes away, I am coming to the reality and kicking myself for being such a stupid.

    I don't usually trade during Asian market as the market is less volatile and lost considerable amount of money.
    London open and 2 hours after US open is the time I like to trade. But I couldn't sit at a stretch without any disturbance due to family commitments..

    Besides all these, I still love forex and Binary market. I don't expect to become millionaire overnight. But I strongly believe that, with my trading I can contribute somewhat to reduce the financial burden of my family, to do some good things for my kids. But I honestly don't know where to start.

    do you think that I can withstand in this ocean with all my above mentioned disabilities ?

    is there any psychological books or videos to better tune my mind?

    plz help me where to go from here

    I feel you... basically I was in the same boat too until I finally have found what works best for me. Actually you have answered your own question, that you lack discipline and patience, and probably (I can feel) that you still don't have lots of confidence on your trading skills and the strategy that you are using becasue you immediately just jump into a trade. If your your skills and your strategy are solid, this will basically prevent you from jumping but maybe since you still have some doubts, "it's now or never" and just take a leap. To be honest, if you have good confidence in your skills and strats, your timing will (just like magic) be awesome. My suggestion is to polish on that and once you got it, your entries will be near perfect and when you see that you missed an opportunity, you will laugh and shake it off.

    About money, this can be hard especially when one is chasing losses. There may be times that you may need to step back and just let it go. Then come back another day to try it again when you are not full of emotion or worries about your losses. I can't really say much about money management because I'm stuck trading the minimum for another 1 or 2 years, so even if my analysis is very strong and I know that it's a sure win, I still have to trade the minimum. So basically I'm not bound by emotion, greed or worry because I only trade very small. When I lose, I can easily shake it off my head. But my way is not targeting for big money and is basically for my experience and education which may be different from your target.

    If you have time, I will invite you to take a look at some of the stuffs I shared here, plus you can also have a look at my diary and compare the first pages to the last pages
    You can also join CommuniTraders-Live Skype Group to share, learn or maybe just have some fun.

    Wishing you the best
    Duct Tape can't fix OTM

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  9. #6
    Active Member mani ana's Avatar
    Thanks a lot Milo. I started feeling at home. Definitely I am going to try demo.

  10. #7
    Active Member mani ana's Avatar
    Thanks a lot Ronnel. Really that was spot on. My confidence level on my skills and strategy is zero as of now. Bt I consider joining in this forum as a big step which I took in my trading journey . It is my fortune to read all your trading stuff and diary. I will utilize them accordingly. In the coming days I will indulge myself into the forum, commnitrader skype group and youtube videos for my education. Once againThanks a lot for your words. They meant a lot to me.

  11. #8
    Active Member mani ana's Avatar
    One more thing, I forgot to mention, speaking of money management. I lost about 10000$ in total in all these years of trial and errors of trading which is all my hubby's money. Though the amount seems to be less to u people that is still a lot of money to me. I can by no way ask my hubby again for a large amount. So I am now left with a maximum of 1000 $ . This is a do or die to me. If I could not save this money , then this trading world is no longer for me. So I will be more cautious this time hopefully.

  12. #9
    Senior Member Lelyz9's Avatar
    Hi Mani,

    It's a big money you've lost. Thank God, your hubby didn't kill you, lol.. Geezz, what to say to you... First, you are a very blessed woman for having that good hubby who is still willing to give you money for your expensive hobby Giving money to brokers is a very expensive hobby!!!

    Why not start with min deposit now. If you could find $100 broker to start with, then it's great! So, if you blew it again, it's only 10% of your total money, still okay. But the punishment should be doing things you really hate. Ask your hubby to give you that punishment, maybe doing things he likes but you don't. At least, he'd be happy Once the unpleasantness is greater, you'd be sure to be very careful next time, not to blow your account anymore.

    Before your last post, I have thought it's not your hard-earned money, that's why it's easy to lose it again and again, no pain there. But if you work so hard for it, I bet you'd be extra careful handling your money because you love your family so much.

    Thank God again, that you're here now and ready to make the change. So, welcome to this big family, Mani!

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  14. #10
    Legendry Member Michael Hodges's Avatar
    sounds like you have some motivation to do well, that's a good start. Take a deep breath and regroup yourself. Make some trading rules, money management is the key, trade small so you can trade often, never put more than like 5% on any one trade.

    my question, what time frame trades are you using? what charts, what expiry? Do you keep up with economic trends?

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