Flogging Anyone?
April 28, 2006 by Trader Rich
I appreciate Greg's comments and agree with everything he says. In particular, I agree with the facts that:
- I am getting flogged. If this was actually happening physically, I'd be a bloody pile of mess.
- The 5% who consistently make money are taking the other 95%'s money (including mine)
The reality is that though I have lost money, it hasn't been more than $2000 (give or take a couple hundred.) It has cost me a lot more in time and effort. I don't consider the loss of thousands of dollars a waste considering the 6+ months of experience I have received. The $1000 for a mentor is also money that I feel is well spent even though the results have not been realized yet. I was chatting with Rob during the US session today and as far as I can tell, he is trading for real during these times. It is also no wonder that most mentors are probably failed traders that decided that they could do well teaching others a very difficult thing. This doesn't mean that they know how to make money trading forex. You can compare it to a professional sports coach who was never successful as a player but is as a coach. There are many examples of this. They aren't necessarily there to tell you what to trade but are there to prepare you for when you do decide to trade.
The goal of this site is to be truthful and honest. I can tell all of you that though I have thought about not posting a losing trade in my trade history because of fear from criticism, I never did not post it. I feel strongly that if you cannot be honest with others, you cannot be honest with yourself and therefore you will never learn.
As always I appreciate all the comments that come in and hope that I can and others can learn from this. If after 2 years, I'm still posting crap about losing, then shoot me down because I should not be doing this. I promise that I will not enter the world of mentoring either. I am not without faults in my trading (specifically with randomly trying things with real money, emotional trades, overtrades, and all the rest) but after 6+ months, I still have confidence I can do this for a living. It's not going to be easy but think of all the hope it will give others if I can manage to beat the odds.
Don't come to this site if you want trading advice (THAT'S FOR SURE… at least not yet) but if the 95% of you want to see someone going through exactly what you are going through, come on in. Post your comments because I truly respect every one of you that has and if I am successful, I will attribute it to you.
Enough of this Rah rah rah… After reading this over, it sounds like I'm about to cry….
Popularity: 3%



































Rich,
After the first couple of paragraphs I was afraid you gave up, but I am really happy to know that’s not the case. I want you know that I really appreciate your honesty and all the effort you put in to maintain the site and I’m sure I am not the only one. It’s refreshing to find real posts about real results (even during losing streak) since there are so many people out there who take time to boast about a couple of great trades they made and then they disappear. The 5% Greg is talking about it’s mostly traders working for banks and institutions that spent hours on their training and they have almost unlimited funds to work with.
It will sound like a cliche but I’m sure that if you have enough determination to stick with it, at some point all the elements of trading will fall into place and you will reach your goal
All the best to you!
I, for one, really enjoy reading your site and I check in several times a day to see what’s new. It’s much more real and honest than most of the forex sites, which makes it all the more interesting, useful, and yes, motivational. Keep up the good work and sooner or later the trades should start working out more consistently!!
I agree with Uri. I check this site every day if not many times a day. Keep up the good work.
Thanks Guys. I’ll continue to try to provide the most helpful content I can…