From Post 1614
I sense that some of our Forex Traders here might not be sure how to handle the STATUS QUO that we have at the moment in the markets.
I have been reading the EUR/USD thread and the USD/JPY thread and what I observed there is similar in both threads.
We have three types of Forex traders on Forex Factory. First there are those quite new to trading say one year or less. Then there are those with experience of one to five years and then the veterans of five years and over.
I would say that at least 75% of all Forex traders on this website are traders that use the technical indicators whether just reading the charts to going further really understanding Support and Resistance or Supply and Demand or to more specialized methods such as Pivot Points.
That type of trading was much more effective before the meltdown during 2008. Today it is not sufficient to make profits constantly and if you somehow do when we have major new events such as Brexit and the Election of a new different type of President and all the very many other complex issues out there which many on this thread are now aware about.
I have not pointed out anything new that I have not said before however I now have a new observation because of my new corporate focus on teaching people how to maybe become a professional Forex trader and not everyone can get there.
So in the EUR/USD thread you can see that the mindset is that EUR/USD is going back to 110.00 and not to 105.00 so they try to use the charts to go long and of course this confuses the issue if the TREND for EUR/USD and it most likely will be that way because of the many fundamental and Geopolitical issues.
In the USD/JPY thread not understanding about Risk On and Risk Off and Money Flow and CORRELATION they think that USD/JPY will more likely go back to 120.00 before it goes back to 110.00 or even 105..00.
CLEARLY that is not possible especially when the EQUITY markets collapse and they will.
It now becomes much more clear why those Forex Traders end up with the 95%.
However excellent Forex Traders that are more experience most likely make good profits however over 5% highly unlikely in my opinion. I could be wrong and I hope that I am since I want everyone to make money. Those kind of Forex Traders because of the great unknown ahead of us surely need a Great Risk Management Strategy.
I drew some heat in the last week or so by saying that WE had a FOOL PROOF Risk Management Strategy and I explained it then and again now by saying what it means is that it guarantees that a FOOL cannot become a professional Forex Trader.
Perhaps in our Politically correct world , I should just say instead of FOOL , a foolish person.
Please reply back and give me your own thoughts on my post and if there are other topics that you have questions on please ask me as I am around all day at my home/office doing many things while on and off the computer.
Best regards
Benjaminis
I sense that some of our Forex Traders here might not be sure how to handle the STATUS QUO that we have at the moment in the markets.
I have been reading the EUR/USD thread and the USD/JPY thread and what I observed there is similar in both threads.
We have three types of Forex traders on Forex Factory. First there are those quite new to trading say one year or less. Then there are those with experience of one to five years and then the veterans of five years and over.
I would say that at least 75% of all Forex traders on this website are traders that use the technical indicators whether just reading the charts to going further really understanding Support and Resistance or Supply and Demand or to more specialized methods such as Pivot Points.
That type of trading was much more effective before the meltdown during 2008. Today it is not sufficient to make profits constantly and if you somehow do when we have major new events such as Brexit and the Election of a new different type of President and all the very many other complex issues out there which many on this thread are now aware about.
I have not pointed out anything new that I have not said before however I now have a new observation because of my new corporate focus on teaching people how to maybe become a professional Forex trader and not everyone can get there.
So in the EUR/USD thread you can see that the mindset is that EUR/USD is going back to 110.00 and not to 105.00 so they try to use the charts to go long and of course this confuses the issue if the TREND for EUR/USD and it most likely will be that way because of the many fundamental and Geopolitical issues.
In the USD/JPY thread not understanding about Risk On and Risk Off and Money Flow and CORRELATION they think that USD/JPY will more likely go back to 120.00 before it goes back to 110.00 or even 105..00.
CLEARLY that is not possible especially when the EQUITY markets collapse and they will.
It now becomes much more clear why those Forex Traders end up with the 95%.
However excellent Forex Traders that are more experience most likely make good profits however over 5% highly unlikely in my opinion. I could be wrong and I hope that I am since I want everyone to make money. Those kind of Forex Traders because of the great unknown ahead of us surely need a Great Risk Management Strategy.
I drew some heat in the last week or so by saying that WE had a FOOL PROOF Risk Management Strategy and I explained it then and again now by saying what it means is that it guarantees that a FOOL cannot become a professional Forex Trader.
Perhaps in our Politically correct world , I should just say instead of FOOL , a foolish person.
Please reply back and give me your own thoughts on my post and if there are other topics that you have questions on please ask me as I am around all day at my home/office doing many things while on and off the computer.
Best regards
Benjaminis
1