- Joined Feb 2009 | Status: Member | 25,867 Posts
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
Show Trade Explorer, why Yes or why Not... 47 replies
Why do indicators not work/work? Why is Forex not truly random? 129 replies
Mathematical reasons why MOST DayTraders & scalpers fail? 197 replies
Why does news have reverse effect on the Currency? 16 replies
why does cable reverse almost every day 18 replies
DislikedThere is another point made earlier in this thread, about how pro's all tell you they blew several accounts before becoming profitable....hmmm. Well I know quite a few pro's and not one of them has ever mentioned blowing an account to me, I have certainly never blown an account.Ignored
Dislikedif you run forward at the enemy and cuts you down with machine gun fire, you simply run backwards at the enemy and you will win?Ignored
DislikedYeah. Blowing an account is probably a bad sign. Either you failed to do due diligence (learning the basics, risk management, etc.), or you were that bad of a trader that even with the basics you were still able to draw down the whole account. Even during my worst trading phases, when I simultaneously overtraded and overrisked, I still had enough wins speckled in with the losses to keep me from going too far under. I seriously can't imagine losing my whole balanceIgnored
Dislikedif you run forward at the enemy and cuts you down with machine gun fire, you simply run backwards at the enemy and you will win?Ignored
DislikedYes you are correct Marv about the 99% i pulled it out of the air,its probably more like 99.9%Ignored
DislikedI have heard numbers up around 95% but fail is a bad term to use.
People quit trading for a number of reasons even if they are making some money so i think that number is highly overstated.
Some start trading because they think they are going to make big money in a short period of time. They show a little bit of profit but no where near what they anticipated so they put their money elsewhere.
Some think they can make some money with not much time and effort. They soon find out that it takes a lot of effort and time and even though they...Ignored
DislikedNot all, but if we keep applying new knowledge, price action, discipline, emotional intelligence, we can be the 5%.Ignored
DislikedI think you have a great attitude especially when you mention " applying new knowledge". Markets change so it is a must that we adjust to them. What once held true yesterday may not necessarily hold true tomorrow.
I still think that 20%-30% of people do not lose money trading FX. That is a conservative estimate. They simply just stop trading for so many different reasons.Ignored
DislikedTo expand on Marv's post earlier in the thread:
But of course it's actually a little more complex than that. On every roulette wheel there are one or more zeros that are neither red nor black. Therefore there will be occasions where I will lose, no matter which color I choose. That is why, over a long enough number of spins, the casino will always eventually win. It's called the "house edge".Ignored
DislikedI've tried reversing signals before...the issue is that your stop-loss then becomes a takeprofit and your takeprofit then becomes a stop-loss...thus reversing everying ...I've even tried technical analysis on equity curves - it doesn't work very wellIgnored