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Author Topic: Your biggest nightmare in trading  (Read 3144 times)

Offline pipsbuster

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Your biggest nightmare in trading
« on: April 18, 2018, 03:55:35 PM »
Mine was a strategy which was presumably exploiting a market inefficiency. It was first coded, then backtested with impressive results without any optimization, so I had big hopes for it. It worked live great for two years until last year's September, then collapsed over the subsequent months. This led me to think no strategy can possibly last on Forex and the only way to make money from it is taking the other side of retail clients' trades like bucket shops do. More so, the longer a strategy has been profitable, the higher its chance to fail soon.

What was your personal biggest disappointment in Forex?

Offline Paul.Trafford

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Re: Your biggest nightmare in trading
« Reply #1 on: April 23, 2018, 02:01:22 PM »
Mine personally was, realizing that Forex trading will take more time, than just few weeks to learn ....

Online Eliza Abrams

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Re: Your biggest nightmare in trading
« Reply #2 on: April 23, 2018, 02:51:20 PM »
Falling asleep while having an open position, missing a big news event which almost wiped out my account and waking up to that - that was my biggest disappointment.

Offline reinerh

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Re: Your biggest nightmare in trading
« Reply #3 on: April 23, 2018, 03:18:17 PM »
Mine was a strategy which was presumably exploiting a market inefficiency. It was first coded, then backtested with impressive results without any optimization, so I had big hopes for it. It worked live great for two years until last year's September, then collapsed over the subsequent months. This led me to think no strategy can possibly last on Forex and the only way to make money from it is taking the other side of retail clients' trades like bucket shops do. More so, the longer a strategy has been profitable, the higher its chance to fail soon.

What was your personal biggest disappointment in Forex?

my outbreak strategy failed around last year november, that also bummed me out big time. markets change, but one has to adapt and life goes on.

have several coming on line which show great promise, by the end of the year my accounts will be at equity highs again.

one has to outsmart the market and all will be good.


Online Eliza Abrams

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Re: Your biggest nightmare in trading
« Reply #4 on: August 31, 2018, 03:31:42 PM »
Mine was a strategy which was presumably exploiting a market inefficiency. It was first coded, then backtested with impressive results without any optimization, so I had big hopes for it. It worked live great for two years until last year's September, then collapsed over the subsequent months. This led me to think no strategy can possibly last on Forex and the only way to make money from it is taking the other side of retail clients' trades like bucket shops do. More so, the longer a strategy has been profitable, the higher its chance to fail soon.

What was your personal biggest disappointment in Forex?

my outbreak strategy failed around last year november, that also bummed me out big time. markets change, but one has to adapt and life goes on.

have several coming on line which show great promise, by the end of the year my accounts will be at equity highs again.

one has to outsmart the market and all will be good.

That occasionally happens to each and every trader out there, it's good that you managed to overcome it. :)

Offline Benjamin7

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Re: Your biggest nightmare in trading
« Reply #5 on: September 26, 2018, 04:17:50 PM »
I had the worst time in th beginning of my career as I usually did trade against the trend at that time. But, I realized my mistake soon and worked hard on trend analysis. Now, I am doing a great business and earning good money via trading. We have to realize our mistakes soon in order to stay profitable on forex market!

Offline reinerh

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Re: Your biggest nightmare in trading
« Reply #6 on: September 26, 2018, 07:50:26 PM »
I had the worst time in th beginning of my career as I usually did trade against the trend at that time. But, I realized my mistake soon and worked hard on trend analysis. Now, I am doing a great business and earning good money via trading. We have to realize our mistakes soon in order to stay profitable on forex market!

could you please share your myfxbook link ??

would be hugely inspirational to other folks here.

Online Eliza Abrams

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Re: Your biggest nightmare in trading
« Reply #7 on: September 27, 2018, 02:05:37 PM »
Trading against the trend is possible, but it requires quite a lot of knowledge and experience, it's not recommended for newbie traders, I think.

Offline iMusingKiMi

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Re: Your biggest nightmare in trading
« Reply #8 on: October 04, 2018, 07:48:23 PM »
I think my biggest nightmare in trading during the results on Brexit vote. When the votes results out and Euro market hasn't opened, it is so sad to see all the profit shrink smaller when my hedge position works nicely. It just like looking all those money burning every minutes until Euro market open.

Online Eliza Abrams

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Re: Your biggest nightmare in trading
« Reply #9 on: October 10, 2018, 03:45:30 PM »
I just didn't trade for a full week before and after that poll, I didn't want to take the risk.

Offline compujock

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Re: Your biggest nightmare in trading
« Reply #10 on: November 05, 2018, 04:23:45 PM »
My biggest nightmare is having a trade open in the opposite direction of a large "Black Swan" type of event.  I had a EURCHF trade open in the wrong direction when the CHF peg was dropped.  Many traders had their accounts wiped out.  Some brokers even went out of business. Thankfully, my trade was very small, but I still lost a large chunk due to how fast and far the EURCHF dropped. This is why it's good to have multiple accounts across multiple brokers and trade different strategies among them.  This way it's highly unlikely you could lose all accounts at once.  But I still occasionally have nightmare's about this while sleeping.   ::)

Online Eliza Abrams

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Re: Your biggest nightmare in trading
« Reply #11 on: November 07, 2018, 01:10:32 PM »
My biggest nightmare is having a trade open in the opposite direction of a large "Black Swan" type of event.  I had a EURCHF trade open in the wrong direction when the CHF peg was dropped.  Many traders had their accounts wiped out.  Some brokers even went out of business. Thankfully, my trade was very small, but I still lost a large chunk due to how fast and far the EURCHF dropped. This is why it's good to have multiple accounts across multiple brokers and trade different strategies among them.  This way it's highly unlikely you could lose all accounts at once.  But I still occasionally have nightmare's about this while sleeping.   ::)


I've been there and I've done that. It truly is a nightmare. :(

Online nick3232

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Re: Your biggest nightmare in trading
« Reply #12 on: January 24, 2019, 04:08:25 PM »
so we all had the same kind of nightmares

Online Eliza Abrams

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Re: Your biggest nightmare in trading
« Reply #13 on: January 25, 2019, 01:19:10 PM »
so we all had the same king of nightmares

Most traders have similar experiences, this is not surprising.

Offline Ggeyda

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Re: Your biggest nightmare in trading
« Reply #14 on: February 12, 2019, 03:17:15 PM »
I am sure that the biggest nightmare in any trader life is to see the market crash. I hope that a never arrives but we should be ready for it in the broken economy system. I still remember the horrors of the 2008-9 financial crisis. Everything was a mess and chaos errupted.

 

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