thanks Charles for your support,
you know what is really annoying is that it very difficult to convince a forex trader who is still at the early stage that what he is doing is a gambling, the trading comes with a cover if you asked me at the first two years i will explain that the difference between trading and gambling is that it is not a game of chance and it is based on technical and fundamental analysis and it based on strategies and chart reading .. …. Etc. and this partially true but if you add few factors :
1: the broker is offering a huge leverage 1:500 some of them 1:1000.
2: you are your own poss, it is your money , if you put the limit for maximum lose per trade to be 2% of your capital, no one can stop you from change it to 5% 10% or even more after few losing trades ” due to chasing losess” or after few wining trades ” due to the euphoria”. How is this different than gambling?? Regardless to the analysis that led you take a decision to buy or to sell.
i realy can write alot in this regard but i will keep it short today.
one more thing regarding the leverage :
last year the EU and UK regulators limited the leverage to 1:25 and the US regulators has done the same few years back by limiting the leverage to 1:50 in forex trading. but the online brokers are like the casinos they always find solution buy shifting their registration to some countries like Australia where these rules are not applied and they still offer a huge leverage.
regarding banning my self it is not possible, i have checked with them and the number of online brokers is huge even if it is possible to bane yourself it is not practical.
what worked so far for me based on this two years experiance:
1: i should not have any form of Debit credit or pre-paid cards
2: all the accounts with the brokers shold be closed.
this will give me only a grace period of 8 to 24 hrs becuase within that period I can get a perpaied card and i can active a online forex trading account and start again.
the 3: point which is the most important one is not to keep any extra money with you.
i broke the rule 1 few months ago to keep a prepaid card to pay some utility bills online or to order sonline then i broke the rule 3 few weeks back and i kept 2500$ extra cash in my home as a “back up ” after that it tooks me only a 10 days to relapse again .
now i have started over i closed that prepaid card and I have closed the trading account and i will face a 3 tite monthes becasue of my last relapse i have to cover some payments that i didn’t pay becasue of the relapse so I wll not have extra money for the next 3 months.