Truth about online trading...Is this us also? | Forex Factory

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Truth about online trading...Is this us also?

  • #1
  • First Post: Aug 2, 2009 4:05pm Aug 2, 2009 4:05pm
Small survey I have..
............................

31 people submitted so far, split between Europe and USA; 1 from Canada and 1 from the Middle East and one "other".

76% male
65% trade only live and only one person paper
47% trade over 3 yrs

Only 23% trade as source of income but only one person said he/she is making money regularly which is not good news for the rest, although a lot of people claim they are actually making money consistently.

One person is following blindly a signal provider but I don't know if that is the person who has responded making money regularly.

Most people either have their own trading method or are working on it, however half are disappointed with their past results.

Most people pay for the signal service not included in broker deal and 50% of them are people who are (sort of) happy with their signal provider.

More than half belong to more than one forum.
More than 75% started trading to get out of debt and funded their account with a credit card which they can not repay.
  • #2
  • Aug 2, 2009 4:30pm Aug 2, 2009 4:30pm
Quoting tinkywinky
Small survey I have..
More than 75% started trading to get out of debt and funded their account with a credit card which they can not repay.
This is very bad.. it happened to me too, and the main problem i think is the messages sent by broker's advertising, messages like "trading is easy" "start trading today and make money" etc.. these advertisments let people think that trading is easy, and that is something like a game, basically that's why 99% of new online traders will fail (blown the first account), but hopefully that's only the start, needed to understand that trading is NOT a game, and is NOT easy
  • #3
  • Aug 2, 2009 4:40pm Aug 2, 2009 4:40pm
More than 75% started trading to get out of debt and funded their account with a credit card which they can not repay.



This is good news, people aren't losing there money on here there losing the credit card companys money in a hope to keep up on credit card payments

Explains the increase in Newbie's aswell sadly, most of which are just making there situation worse.


He says in serious debt, with no work coming in and going full time well today LOL
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #4
  • Aug 2, 2009 4:54pm Aug 2, 2009 4:54pm
Quoting tinkywinky
Small survey I have..
............................

31 people submitted so far, split between Europe and USA; 1 from Canada and 1 from the Middle East and one "other".

76% male
65% trade only live and only one person paper
47% trade over 3 yrs

Only 23% trade as source of income but only one person said he/she is making money regularly which is not good news for the rest, although a lot of people claim they are actually making money consistently.

One person is following blindly a signal provider but I don't know if that is the person who...
they forgot one of the rules in trading.

don't trade with money you can't afford to lose!!!
  • #5
  • Aug 2, 2009 5:05pm Aug 2, 2009 5:05pm
Quoting winningfx
they forgot one of the rules in trading.

don't trade with money you can't afford to lose!!!

Sometimes you just haven't got the option, it's better to try to get out of your situation and fail then just give up.


That's the situation I'm in so I know!!

Thankfully I'm not a newbie, more of a old timer who just messes around hobby class who's just had to go full time
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #6
  • Last Post: Aug 2, 2009 9:31pm Aug 2, 2009 9:31pm
Quoting Turveyd
Sometimes you just haven't got the option, it's better to try to get out of your situation and fail then just give up.


That's the situation I'm in so I know!!

Thankfully I'm not a newbie, more of a old timer who just messes around hobby class who's just had to go full time

hahaha. u go turveyd. no worries there mate, if u know what you're in for.
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