Trading forex profitably long term is impossible.
I mean no offense and with all due respect you guys are proving my point.
I mean no offense and with all due respect you guys are proving my point.
It's impossible to lose money in Forex!!! 91 replies
The impossible-question regarding Forex 63 replies
Is it impossible for American traders to get rich in forex? 24 replies
long-run profits impossible with short-term trading? 39 replies
DislikedAll you need is a strategy that gives you a good R/R and preferably a greater than 50percent win rate, and bingo!!!
It's not that hard.Ignored
DislikedTrading forex profitably long term is impossible.
I mean no offense and with all due respect you guys are proving my point.Ignored
DislikedOn the contrary. Isn't there ample proof than 95% of retail traders are losers? Is this not generally accepted?
I see claims that retail forex trading is profitable. Fine, I contend that in the long run, it is not. If there is indeed 5 % or even 1% that are profitable at any given time they will eventually lose out (various reasons) after some time.. (days, weeks, years...).
I am certain that no one will come forward to prove that this is not the case.Ignored
DislikedReminds me of a funny line - "the lottery is easy, all you need is a winning ticket and hey presto!"Ignored
DislikedThe time-frames that are you trading on (1m, 5m, etc) will undoubtedly be exposed to a significant amount of noise - news releases or other liquidity spikes will be much more likely to stop you out if you hold tight-stopped, short-term positions. I am NOT saying that is it impossible to trade smaller time frames, but just for someone that is worried (and seemingly overwhelmed) by the numerous factors that effect the market, I think larger timeframes would be a better bet.Ignored
DislikedExcellent job Chris, very impressive article indeed. I realise you covered many differing angles on trading however your section on trading larger time frames resounded with me. Without sounding critical as I have been guilty of it in my early trading career also, the trading of smaller time frames is insane, way to much market noise and erratic PA movement to make any sense of. It makes forex trading into a job.... and who wants that? I am a more stable and profitable trader since I realised my own short comings and now only trade on time frames...Ignored
DislikedIf being right more than 50% of the time is possible, and in my case and many others probable. Then logically that would inevitably lead to profitability. And sustained profitability at that.Ignored
DislikedIf being right more than 50% of the time is possible, and in my case and many others probable. Then logically that would inevitably lead to profitability. And sustained profitability at that.Ignored
Disliked
my rates rarely dip below 70% accurate.
I am not selling nothing so you either believe this picture below as factual or not...Ignored
DislikedPersonally, I feel that a new trader needs a good mentor. Someone that is legitimately successful. This mentor allows the new trader into their trading room to observe every trade.
The subconscious mind will soak in successful and consistent behaviors, and suddenly the new trader will find themselves profitable.
This was my story... I had a great mentor.Ignored
DislikedAnd it is also common knowledge that those who do not know how to trade, view trading as GAMBLING! Yes, just like the lottery.
Those who do not know how to trade are not in a position to judge its potential.
I might actually stick around here for a while, I'm quite enjoying picking holes in baseless arguments.Ignored
DislikedPersonally, I feel that a new trader needs a good mentor. Someone that is legitimately successful. This mentor allows the new trader into their trading room to observe every trade.
The subconscious mind will soak in successful and consistent behaviors, and suddenly the new trader will find themselves profitable.
This was my story... I had a great mentor.Ignored
DislikedExactly, agree 100 percent.
A positive mind sees the positive potential, a negative mind does not.
Without this positive mental foundation, success eludes us.
We all live in our own worlds and this thread is a classic example.
Claiming it is "impossible" to succeed and stating it as "fact" requires objective proof. Without this proof, it is not a "fact" but just an opinion.Ignored
DislikedI see ... I kindly submit to you that we reverse that statement:
Claiming it is "possible" to succeed and stating is as "fact" requires objective proof. Without this proof, it is not a "fact" but just an opinion.
I am afraid you are still not proving your point.
Let's say I place a trade and it makes money. It is then a fact that that I have a "long term success" of 1 trade that lasted 2 hours.
Let's make it a losing trade. Then it is a fact of a "long term failure" of 1 trade that lasted 2 hours.
Now can you show me...Ignored