Suicide and forex
Trader's suicide. Psychology of trading or what to do if you lose on Forex?,Recommended articles
14/01/ · Quoting Rob Mondave. At one point years ago- concert violinists had the highest suicide rate of any occupation (not sure if that's still the case). There weren't nearly as many retail traders around back then, but the two pursuits largely parallel each other. hours 16/01/ · There is lack of evidence here to confirm this rising trend in retail killing blogger.com this post belongs in the other thread rearing to trends blogger.coms getting back 15/01/ · Great. Thanks for the laugh because reading these thoughts I am discouraged (not from suicide, just sorry to see the thoughts!). The thing is: we are not alone, and relying on other people as the standard of whether or not you are getting understood is certainly a bad idea - that's in response to one idea I read 21/01/ · {quote} This thread is not about whether or not it is possible to succeed at retail forex trading to some degree. No doubt like any game of chance a rare few will be huge 20/07/ · And shouting: "Casino! A scam!" the person also leaves blogger.com why is there a loss of the deposit?Read more: Forex problems – what is the "Burnout Effect"4 mistakes of novice tradersMistakes of novice traders, as we have already said, those who came for fast money and are not going to go through a long way of becoming themselves as a trader ... read more
The news portal reported some of her roommates as saying she has been in forex trading for some time now. She even became an agent through whom a lot of people including her church members invest in the platform before the unfortunate happened. Colleagues of Nancy Asante Bannor told the news outlet that they returned from church service on Monday night to see a note she had left behind before vanishing. READ ALSO: Court jails Ghanaian barber years for sodomising 12 pupils.
She is well behaved and a good student. In the note, the lady narrated how difficult it was for her to convince her clients that their investments have been lost mysteriously. Please tell God to forgive me and if possible give me another chance. Please forgive me. Welcome to the Pulse Community! We will now be sending you a daily newsletter on news, entertainment and more. Also join us across all of our other channels - we love to be connected!
Andreas Kamasah. November 16, PM. It is necessary to reduce the size of the traded position. Until you regain confidence in yourself, your rightness in assessing the market situation and the efficiency of your trading system, enter the market at a minimum.
To restore confidence in yourself and the market, you simply need a band of profitable trades, even with a small profit. It is better to be safe and close several trades at breakeven than to suffer losses again, which can plunge you into the abyss of internal doubts.
Overcome your fear of opening a deal. Learn to trade without fear! Out of fear of losing, the trader, being in the black, is strenuously looking for signs that the market is going to take away his earnings. And being in the red, he pays attention to the opposite signs that can save his position… The only way out is to make a pre—planned trading plan in a disciplined manner.
The less you worry about whether you are right or wrong, the clearer you will see the picture of what is happening. If you approach losses as an integral part of any business, then the possibility of losing will not respond to you with a dull pain inside. You just have to do what you have planned, and then there will be nothing to be afraid of. It is more important for a trader to think not that he will make money, but that he will always follow his rules. Because if you violate them, then no matter how much you earn, you will still lose later.
IndexaCo Published on: Jul 20, Another articles The reasons for the mistakes of novice traders. Mistakes of novice traders. A sad conversation about trading. Looking back, I see a very sad picture of the success of traders. Of those with whom I started trading, today there is practically no one left!
Just think about these numbers. For 10 years, of the people with whom I communicated very closely and there were people, not counting just familiar traders , only a few remained in the ranks! Everyone else sooner or later quit this business. Let's face it without rose-colored glasses - there are very few people making money on forex. The percentage of the newly created and ruined "traditional" business, I think, is an order of magnitude less.
And many people think that here we have easy money, just a magic button called "loot". But in fact - nothing like that! We have daily painstaking work here, like slaves on galleys…It seems that everything is simple and clear when you look at history.
Here it was necessary to buy, here to sell, and here it is happiness! In the form of a golden rain mixed with cars, yachts and houses on the coast… In fact, everything turns out to be wrong. There is always the eternal question - here and now, which button to press? Why are deposits merging and traders leaving the market?
In the first year of trading, according to my year observations, people leave the market in two cases. The first category comes to forex in the hope of fabulously and most importantly to get rich quickly. At the same time, they have no idea how everything works and turns around here.
The market immediately hits the new participant in the nose, takes all the money and throws it overboard. Robbed as he believes and offended by the whole wide world, the failed trader leaves the market forever. The second category of people are more lucky. But money "on the ball" has the ability to relax a person. The result is the same as in the first case — draining the main deposit and all that I earned. And shouting: "Casino! A scam! So why is there a loss of the deposit?
Read more: Forex problems — what is the "Burnout Effect"4 mistakes of novice tradersMistakes of novice traders, as we have already said, those who came for fast money and are not going to go through a long way of becoming themselves as a trader.
Why, for example, you need to study for a surgeon for 6 years, then 3 years of internship, and only after that you may be entrusted to perform operations yourself. And how long does it take to become a successful, consistently earning trader? I can say about myself that I started to close a stable month without losses only by the end of the third year. The next reason for losing money is the lack of a trading system and a trading plan. And even if you are armed with a good trading strategy, always ask yourself the question — "How good is my trading system?
Following the market, our approaches to it should also change. We have already discussed these issues, so we will not stop. Moving on. Let's say you have shown patience and are ready to move slowly but confidently towards your goal. You already have a profitable and time-tested system. We can say that half the work on the way to success has been done. But there remains a very important issue that novice speculators practically do not pay attention to.
And this question is money management and risk management MM and RM. I repeat once again, the market has a tendency to change its habits. And he changes them at the most inopportune moment for example, when you have a profitable streak, and you are in a euphoria of happiness from your own success.
In such periods, believe my experience, it is very easy to miss changes in the market. And the only thing that can save you from collapse at such moments is strict trading discipline in relation to MM and RM.
And these two components of trading are the key to stable earnings. If they are used correctly, the profit from one successful transaction can cover the loss from three or even five unprofitable ones. But the most important enemy on the way to success is yourself and your emotions!
Fear, Greed, Hope. The fear of getting another stop loss does not allow you to open a deal that can become very profitable. Greed prevents you from closing a position in time, as a result, instead of profit, you get a breakeven at best. Hope makes you hold a losing position, even when you realize that you initially made a mistake in the calculations.
To keep yourself in hand and not let your emotions bloom with a double color is difficult! We are all living people, not robots. Therefore, each of us can sometimes give slack. But, as they say, forewarned means armed. The main thing is to say stop to yourself and your emotions in time!
Summing up, I want to say that the path of becoming a professional trader is thorny and tortuous, but there is always light at the end of the tunnel!
It is necessary to go through the pain of losses and disappointments, through the joy of victories and achievements, to say with pride — "I am a trader! And I am among those who did not leave the market, but achieved success! Aug 06, IndexaCo. Swing trading - strategy of successful traders.
One of the most successful trading strategies that traders use in their trading is swing trading. Today we will try to figure out what this concept is and how to apply it. What is swing trading? The essence of the swing trading strategy is as follows:Since the markets move cyclically, the speculator's task is to determine a market cycle lasting days, open a deal at the beginning of the cycle and hold it for one to five days in order to maximize profit, trying to take most of the main movement of the cycle.
A swing trader should be a generalist and a highly qualified specialist. He should perfectly understand the current market picture. At the same time, act clearly, quickly and flexibly, using the entire arsenal of your knowledge and tactics to work both in the trend and in the flat. There are very few such specialists on the market, but they are the ones who achieve outstanding success, and their trading account is constantly growing. In fact, swing trading boils down to trend trading.
The main thing is to correctly identify the trend that you are going to trade, identify its beginning and join it. Trends - three different typesAs taught by old man Doe, the founder and inspirer of technical analysis, trends are of 3 types:Long-term trendIt can be seen on annual, monthly and weekly charts.
But such trends are more suitable for strategic investors. Agree, we, small speculators, have to hold a position for months and years, waiting for its implementation, sitting out huge kickbacks, somehow out of hand. Of course, I admit that there are strategic investors among you. But this is not my style of trading. Medium-term trendIt can be seen on the daily and 4-hour charts. This is exactly what we need for swing trading. And this is exactly the trend that we want to take into work.
The only point is that you should not try to look for a trend reversal before it happens. I have been beaten more than once for such attempts and it hurts a lot! Successful traders warn with one voice — "Never fight the trend! He can kill you. This is the domain of scalpers. And it is interesting to us because it helps to determine the end of the medium-term trend and the beginning of a new one in the opposite direction.
Read more: Dow Theory: Six basic principles of Technical analysisGeneral rules of swing trading and its advantagesWhat can be attributed to the advantages of swing trading?
With the right input and output, we can get the most out of the medium-term price movement. We get the optimal number of transactions. One entrance-exit per day, allows you to avoid excessive psychological pressure. With an optimal number of transactions unlike scalpers , we do not overpay the broker for the spread and commission.
There is no need to monitor the market 24 hours a day, as a result, there is more free time. With the right exit in a sluggish, stagnant market, the chance to hang with a position on your hands is reduced to zero, you will never turn from a speculator into an investor. Now, a little bit about the general rules of swing trading. I will emphasize the general rules, since the trading technique itself is not the subject of this article. So, the rules:Before entering the market, make sure that you understand the direction of the medium-term trend well and are in its initial stage.
With the right entry, your position should almost immediately move in a profitable direction for you. If the position makes a profit, but it has not reached its intended goals, move it to the next day.
The opposite rule is that if a position brings a loss, do not carry it through the night. Close it at the first possible rollback and open a more profitable position if the entry conditions have not changed dramatically tomorrow. If the market offers you a bigger profit than you originally planned as an example, the movement on the news , take it without hesitation.
If the position is in a small plus, and you see clear signs of stopping, tighten the stop loss to reduce the possible loss or exit the transaction. Your goal is to minimize risks and transfer the transaction to a break-even state as soon as possible. Be able to wait for your profit. This point, at first glance, contradicts the previous one, but this is not entirely true. This is the skill of a trader not for nothing is the topic of the article — the strategy of successful traders , in order to correctly determine the best moment to exit a deal.
Speaking of rules, we must remember that a number of conditions are necessary for the successful application of this strategy. Namely, fast and clear execution of orders using "one-click" technology without slippage and requotes, low spreads, acceptable rates for transferring a position to the next day swap technology , etc.
All this depends on the quality of services provided by your broker. Read more: Demo account with a Forex broker: is it worth using? Trade successfully, earn money, have fun trading. You will succeed, you just have to want it! How a trader's psychology can defeat his fierce enemies — fears and emotions. I'm not a coward, but I'm afraid. Of course, each of us has our own "butterflies in our heads", but there is something in common that unites us all. These are our fears!
They significantly interfere with trading and poison the trader's life. And if one of you tells me that he is a "brave soldier Schweik" who is not afraid of anything, I will not believe it! Only idiots are not afraid of anything. And we have smart and adequate people gathered here. Therefore, today I will try to understand what prevents us from trading and talk about the psychology, fears and emotions of a trader.
The key to success, as smart uncles and books written by them teach, is a profitable trading system, a good trading plan, discipline in the execution of transactions and compliance with the rules of money management.
All this is so and you can't argue with it! But, there is one essential BUT — these are our emotions, and the psychological component of trading. We are not robots, but real people. Sometimes emotions get out of control and overshadow the mind that is trying to overcome them.
What causes a storm of emotions in our heads? Most often, this is a primitive human feeling — fear! What is a trader afraid of? A simple person can be afraid of anything. Darkness, heights, loneliness Yes, you never know what else… But the main fears of a trader can be formulated as follows:losing moneymaking a wrong dealmissing a profitable dealnot taking the profit on "paper".
What consequences can our fears have for us? Early entry and exit, overexposure of a position — these are just a few unpleasant moments that may be a consequence of our fears in trading. Read more: What a novice forex trader needs to knowHow to overcome your fears? The psychological attitude of a trader is a great thing that can significantly improve or worsen your trading results. It depends on how we set ourselves up and what emotional signals will rush through our head… A lot depends!
And first you need to deal with your fears and try to overcome them. I will take the liberty and offer you some solutions that help me psychologically tune in and cope with my trading emotions. How to overcome the fear of losing money? First of all. It is necessary to trade only on the money that you have already mentally lost. If the money you deposited is too valuable to you, the fear of losing it will never go away.
It is better to start with the minimum possible amount, which means nothing to you or at least, its loss is not critical for you. And gradually increase the deposit, taking into account your psychological resistance to the number of zeros on the account. Even with a large deposit, trade with a minimum lot size. Until you feel that you are no longer afraid of losing money, put such stops risks , the triggering of which will not cause painful sensations in the soul. Naturally, they should still be reasonable and competent, but we are now talking exclusively about their monetary equivalent.
For example. Never exceed the size of the allowable aggregate position and do not overload your deposit! Otherwise, you will get the following situation: a trader opens a bunch of positions, observing the allowable stop size on each one, and it seems to him that everything is fine. But when all this cumulative mass begins to move against him, he realizes that he is very close to losing the entire deposit, and then fear turns on.
Then there is a series of stupidities and wrong decisions. That's all. The job is done — there is no deposit, and the fear of losing money settles in the trader's head for a long time. These tips rather relate not to the psychology of the trader, but to money management. But believe me, until you learn how to manage your capital, the fear of losing money will not go away.
Read more: Forex problems — what is the "Burnout Effect"How to overcome the fear of making a wrong deal? Everything is simple. There are a couple of axioms:Only the one who does nothing is not mistaken. Losing trades and getting a stop should be taken as necessary and unavoidable production costs. There is always a chance that we did not take something into account, did not notice something, or simply missed the danger warning signals. It is always necessary to find at least 3 reasons why you need to open a deal here and now.
You can make mistakes in calculations, but psychologically it is much easier when a deal is opened not on a whim, but according to a clear calculation and plan. How to overcome the fear of missing a profitable deal or not taking profit?
There can be only one solution — a plan, a plan, and a plan again. We plan to trade and trade according to the plan. Unfortunately, you can't think of anything else here.
Plus, discipline in conducting the transaction. We have outlined the entry and exit levels and act on them according to our plan. Remember, the market is not going anywhere! He was yesterday, he will be tomorrow. And most likely, tomorrow there will be better opportunities for a safer deal. Therefore, take your time and do not be upset if you missed some movement. We have everything ahead of us. And finally, a few more general tips. Do not trade if you are upset, sick, have financial problems, or are not sure that you understand the market situation correctly.
Read more: The role of luck and intuition in tradingI understand that I have given the most general recommendations regarding the psychology of a trader.
But you have to fight and win with your fears. Jul 26, IndexaCo. The Libor rate. Is bargaining appropriate? It was , and nothing foreshadowed trouble. The global crisis of slowly began to subside. And then, like a bolt from the blue, the LIBOR rate scandal broke out. The British regulator FSA and the American CFTC have published data that in the period from to , the British bank Barclays, along with Royal Bank of Scotland, Lloyds, HSBC, American Citigroup, Swiss UBS and German Deutsche Bank, actively tried to manipulate the LIBOR rate.
Thereby hiding their own liquidity problems and earning good money on derivatives. But, as worldly wisdom says, everything secret sooner or later becomes clear. But this is already one of the final parts.
And what was the essence of the question? What is LIBOR? The LIBOR rate London Interbank Offered Rate is a weighted average refinancing rate based on the interest rates at which banks entering the London interbank market lend to each other in different currencies and for different periods from 1 day to 12 months.
The five largest and five smallest bids are cut off, and the average value of the remaining bids is published on behalf of the British Bankers Association as the LIBOR and EURIBOR rate. Read more: What is the SOFR interest rate? What is the LIBOR rate for? Without going into the financial wilds, let's just say:The LIBOR rate is an indicator of the demand for liquidity in the banking sector, and the morning application reflects the demand for loans from a particular bank.
Such financial derivatives derivatives as a simple interest rate swap and interest rate futures are linked to the LIBOR rate. Swaps allow you to play on the difference between fixed and floating rates calculated on the basis of LIBOR. Futures contracts with different maturities 3-month and 6-month allow you to play for narrowing or widening the spread between these contracts. And to put it even simpler: the LIBOR benchmark rate shows the degree of confidence of banks in relation to each other.
Large banks directly link loan rates for their corporate clients and mortgage loan rates to LIBOR. The essence of the scandalAs you understand, if something depends on something and something is tied to something, then there will always be kind fellows in expensive suits who will want to use it for their own purposes. This explains the desire of top managers of banks to influence the LIBOR rate to reduce losses, make profits and conceal the true state of affairs in these banks.
As a result, many corporate clients did not count the profits on their assets, and the general public demanded to lynch these "fat cats". Agree, it's a shame to find out that mortgage interest does not depend on the situation in the economy, but on the machinations of a dozen dashing guys manipulating the rate.
Read more: SONIA Interest Rate: calculation and applicationMoreover, it was not about a single case, but about the coordinated actions of banks on both sides of the ocean for 4 years. We live in a world where capital rules. And it's no secret that large banks and investment funds employ people who are not distinguished by firm ethical principles and high morals. Jul 23, IndexaCo. Five principles of healthy indifference in the philosophy of trading. Who are we — traders? What are we doing and what are we doing?
Where are we going, and what awaits us ahead? Questions, questions, questions to which, unfortunately, there are not always answers. Well, talking about the meaning of life and your place under the sun is the topic of a separate article or even a series of articles.
Today I don't want to take a swing at such global topics. Therefore, we will leave the discussion about the philosophy of trading and the profession of a trader for later, but for now we will talk about more mundane things — about the philosophy of trading. If you discard all the beautiful tinsel, then the philosophy of trading boils down to one simple thing — making money. And that's where the catch lies. The fact is that if you set making money as an end in itself, then you will not earn money in the market!
A simple example. And then bam… You made a loss within reason of course and within your money management strategy , or missed a good entry and a good deal, and the market ran away without you. I don't even know which is worse — getting a stop or missing a good move. In both cases, your worst enemies are turned on — emotions that begin to load you from the inside and put pressure on the psyche.
And here comes to the trader's aid the philosophy of healthy indifference and its motto — the magic words "I DON'T CARE! And I don't care, I tell myself. Firstly, it is not a fact that their words are true.
And secondly, the principle works in the market: do not lose — consider that you have made money. The main thing is not to lose. I hear that others are taking the whole movement from start to finish. The nasty mosquito of greed itches in the ear: "You closed earlier and didn't make a profit.
I take a fly swatter and swat this annoying insect. Greed leads to poverty. I hear that others use a bunch of strategies and masterfully earn both on trend and in correction. So what? I don't care about all this!
A report has been made to the Adabraka Police over the disappearance of a final year student of the Ghana Institute of Journalism GIJ who left behind a suicide note. According to a report by Starrfm.
gh, Nancy Asante Bannor lost a total of GHC, in online forex trading and could not bear the pressure from other people whose monies were involved. The news portal reported some of her roommates as saying she has been in forex trading for some time now.
She even became an agent through whom a lot of people including her church members invest in the platform before the unfortunate happened.
Colleagues of Nancy Asante Bannor told the news outlet that they returned from church service on Monday night to see a note she had left behind before vanishing.
READ ALSO: Court jails Ghanaian barber years for sodomising 12 pupils. She is well behaved and a good student. In the note, the lady narrated how difficult it was for her to convince her clients that their investments have been lost mysteriously. Please tell God to forgive me and if possible give me another chance. Please forgive me. Welcome to the Pulse Community! We will now be sending you a daily newsletter on news, entertainment and more.
Also join us across all of our other channels - we love to be connected! Andreas Kamasah. November 16, PM. GIJ final year student who lost GHC, in online trading disappears, leaves a suicide note. Read Also. filla Ghanaian man allegedly kills mother over his missing GH¢ GIJ final year student who lost GHC, in online trading disappears, leaves a suicide note GIJ final year student who lost GHC, in online trading disappears, leaves a suicide note Pulse Ghana. Andreas Kamasah Andreas Kamasah, news reporter at Pulse.
Good at creating original content and writing comprehensive feature articles on humanitarian and social issues. Professional and impartial. JOIN OUR PULSE COMMUNITY! Our newsletter gives you access to a curated selection of the most important stories daily. Submit your stories now via social or: Email: eyewitness pulse. Recommended articles.
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16/11/ · GIJ final year student who lost GHC, in online trading disappears, leaves a suicide note. “She is a good girl and a good friend. She is well behaved and a good student. 21/07/ · forex and all eas are a scam, stay away from forex 47 replies. Suicide, fraud, arrests, Chinese investors and Forex: sad 4 replies. US broker PFGBest freezes funds after founder's suicide attempt replies. Differences between SPOT FOREX and Commission FOREX? 2 replies. Get millions or commit suicide! 32 replies 15/04/ · Similar Threads. forex and all eas are a scam, stay away from forex 47 replies. Suicide, fraud, arrests, Chinese investors and Forex: sad 4 replies 4 replies 20/07/ · And shouting: "Casino! A scam!" the person also leaves blogger.com why is there a loss of the deposit?Read more: Forex problems – what is the "Burnout Effect"4 mistakes of novice tradersMistakes of novice traders, as we have already said, those who came for fast money and are not going to go through a long way of becoming themselves as a trader 16/01/ · There is lack of evidence here to confirm this rising trend in retail killing blogger.com this post belongs in the other thread rearing to trends blogger.coms getting back 21/01/ · {quote} This thread is not about whether or not it is possible to succeed at retail forex trading to some degree. No doubt like any game of chance a rare few will be huge ... read more
Emotional burnout in trading is dangerous because in the wake of disappointment in trading and forex problems, you can completely ruin your whole life. All this depends on the quality of services provided by your broker. I sincerely hope that you do not have such thoughts. There comes a state in which you completely lose interest in forex, feel accumulated emotional and psychological fatigue and physical exhaustion. Thanks to the trading time-out, your eye will not be blurred, and you will be able to assess the situation from the outside with a fresh look. And shouting: "Casino! You start trading on a slack, and then bam….
And when there is no health, nothing pleases, you don't want anything and you don't need anything. The main thing is to say stop to yourself and your emotions in time! Today I don't want to take a swing at such global topics. Incorrect regime,
suicide and forex, problems
suicide and forex sleep and chronic lack of sleep, lack of physical activity you spend the whole day in a chair sooner or later lead to health problems. The LIBOR rate London Interbank Offered Rate is a weighted average refinancing rate based on the interest rates at which banks entering the London interbank market lend to each other in different currencies and for different periods from 1 day to 12
suicide and forex. PAMM account Percentage Allocation Management Module — this is a kind of trust management.
