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  • 7 Things You Must Know Before You Get Into Trading

    From fxtechstrategy.com

    Trading is probably the last true bastion of capitalism where the 'average Joe or Jane' can still take a small amount of money and build wealth. Recent advances in electronic trading have leveled the playing field even further for the average trader. There are, however, a few things you need to know before you get started. Many are axioms of trading wisdom that deserve consideration: 1) The typical trader fails within the first year of trading. Many fail sooner. The commonly heard statistics suggest that 90% or more will fail at trading. These statistics should immediately tell you that in order to succeed, you must ... (full story)

True indeed, well put
same old shite recycled yet again.
What does this tell me about anything? Mundane concepts with little to no explanation.

The 8th thing you must know before trading is stop reading this stories.
When the facts change I change my mind, what do you do sir
LOL..."Leveled the playing field"??

Sure! I have one of those super computers running algos and scanning the news placing back and forth trades with billions of dollars in nanoseconds too!

Sure is nice to be on the same "level field" now...LMAO!
Ghost Rider - WWTBMD?
Quoting nasir.khan
same old shite recycled yet again.
LOL
Quoting albchr
LOL..."Leveled the playing field"??
Those 20/30/50 pips move we see after news or data comes out used to go into humans pockets some years ago, now they are clinched by bots within micro secs while we are still clicking on the forexfactory refresh button like a pay per click scam.
Quoting albchr
LOL..."Leveled the playing field"??

Sure! I have one of those super computers running algos and scanning the news placing back and forth trades with billions of dollars in nanoseconds too!

Sure is nice to be on the same "level field" now...LMAO!
You 2 mate
I'm plugged directly into the open market.

But don't tell anyone....

I agree with the MM point.
Keeping your risk at a level that allows losses without getting too emotional is a huge factor.
If you feel you have a winning edge regardless of what it is, allow for and accept the losses as a cost of doing business.
Then move on...
Come with me if you want to live....
Quoting nasir.khan
Those 20/30/50 pips move we see after news or data comes out used to go into humans pockets some years ago, now they are clinched by bots within micro secs while we are still clicking on the forexfactory refresh button like a pay per click scam.
Pay per click scam xD. No I always come here to read comments and laugh. There is always someone making a funny statement nomatter whats the situation
Quoting nasir.khan
Those 20/30/50 pips move we see after news or data comes out used to go into humans pockets some years ago, now they are clinched by bots within micro secs while we are still clicking on the forexfactory refresh button like a pay per click scam.

still goes to someones pocket
Quoting EdgarNg
still goes to someones pocket
i dint say it was was going into space.
fxtechstrategy.com

- what are you selling again sorry?
Quoting alexrazon
fxtechstrategy.com

- what are you selling again sorry?
from their webpage:
'Everything you need to make quicker, better trading decisions*'

*FREE 'Snake Oil' with every purchase!
Tracking the Specialists.
Quoting Connected
from their webpage:
'Everything you need to make quicker, better trading decisions*'

*FREE 'Snake Oil' with every purchase!

well well fxtechstrat aint that a darn good deal! dammit sign me up for 3 months!

no wait, make it a year instead! and dont forget the box of snake oil you hear me
Quoting nasir.khan
same old shite recycled yet again.
But, just a reminder anyway.
This happens with me , I fail two times but now i am doing good work
This looks more like "Come to trade ... we know You'll loose" type of invitation. For most of "traders" is the best not to trade at all and You'll win with every trade You did not place. For serious traders ... You'll better invest more time on learning, before investing a single dime.
Gawd help us, more nauseous 'dream it and it'll happen' BS. Strange how they miss out the biggest hurdle to making it happen HAVING ENOUGH EFFIN MONEY TO TRADE. Without a doubt the biggest handicap retail traders face is lack of capitalisation and the vast majority will never overcome that critical success factor. Want to make $100k trading this year? Then have an account of $200k.

Here's the thing, after two to three years of full time dedication you may begin to develop a decent edge, can you fund that learning curve and still then have sufficient capital or assets to borrow versus to make a living out of trading? 99% never do.
"The meek shall inherit the earth.." Yeah right, good luck with that shit..
if you wanna make 100 grand this year, you better have a lot more than 200 grand for sure. unless you plan on getting in too deep on a regular basis.
I'm suggesting that a roughly 50% return on that account size, perhaps circa 1% account growth per week would be a decent performance once you're proficient. My big issue with these articles is they never mention lack of capitalisation being a stone dead killer before folk jump on their personal trainwreck.

It's never mentioned because its the fart in the lift that no one wants to own up to. If the industry mentioned that "you're probably going to need 50 grand to make average wage of 25 grand" most would never embark on the FX journey and sites like FF and sharks trying to sell 'stuff' wouldn't exist.

Quoting jaygee
if you wanna make 100 grand this year, you better have a lot more than 200 grand for sure. unless you plan on getting in too deep on a regular basis.
"The meek shall inherit the earth.." Yeah right, good luck with that shit..
You do not need a lot of money to make a lot of money in this business. If that is where you are at - you got the model of the market very wrong.
Hahahaha. Wow, just wow, that's stunning. Keep on dreamin the dream sunshine.

Quoting Loadedgun
You do not need a lot of money to make a lot of money in this business. If that is where you are at - you got the model of the market very wrong.
"The meek shall inherit the earth.." Yeah right, good luck with that shit..
Quoting Spreadbetter
I'm suggesting that a roughly 50% return on that account size, perhaps circa 1% account growth per week would be a decent performance once you're proficient. My big issue with these articles is they never mention lack of capitalisation being a stone dead killer before folk jump on their personal trainwreck.

It's never mentioned because its the fart in the lift that no one wants to own up to. If the industry mentioned that "you're probably going to need 50 grand to make average wage of 25 grand" most would never embark on the FX journey and...
Well if you want to make $3 per week on a $300 account you can pull it off. Maybe in nigeria you could live off that.
The article doesn't really add to the discussion. Lots of old material.

But I wonder how many traders here on FF are trading a six figure account? I have first hand knowledge of a guy who turned $4k into $220k in a year but then blew up. Hubris gets them every time.

I've learned that I know nothing really about the "market", because there isn't a single "market" as such, so I just trade what I see on a screen if a setup comes along. And I do know that making money in small incremental amounts through my broking amount is quite easy, and so I'm now working on seven figures not six.
  •  Guest
  • | IP XX.XXX.191.216
Quoting jaygee
if you wanna make 100 grand this year, you better have a lot more than 200 grand for sure. unless you plan on getting in too deep on a regular basis.
So that is your money risk management dude? No wonder you can shout entries that goes opposite instantly to what you shouted, lol!!! That's truly a good expert good trader you are........
  •  Guest
  • | IP XX.XXX.68.43
I also think a new trader should know that the fastest way to learn how to trade is to also learn from experienced traders with full focus on trading education.
<sigh>

Quoting Deano9999
I have first hand knowledge of a guy who turned $4k into $220k in a year but then blew up.

.
Quoting Guest
So that is your money risk management dude? No wonder you can shout entries that goes opposite instantly to what you shouted, lol!!! That's truly a good expert good trader you are........
LOL
Quoting Squeeze
There isn't a post you make that doesn't reveal your level of ignorance ...
You are welcome RIP thanks in advance
  •  Guest
  • | IP XX.XX.20.64
An edge for the small trader remains small size means agility.
The biggest edge is that you are responsible for your results and no one else.
Trading was, is and always will be a thinking game.
If one takes the bother to develop the mind then that is where success will be found.

If you can do it consistently with small accounts then it is a matter of increasing position size by money management that will bring the desired results.
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  •  Guest
  • | IP X.XXX.86.184
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  • Story Stats
  • Posted: Jun 8, 2013 1:38pm
  • Submitted by:
     Mohammed Isah
    Category: Educational News
    Comments: 29  /  Views: 8,026