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  • Post #1
  • Quote
  • First Post: Sep 22, 2011 2:57pm Sep 22, 2011 2:57pm
Eventually everyone who trades will lose more than they'll make, except for those who are pushing the market.

You may have a great strategy but it will always fails in the long run.
ok I understood - BUT: What are your proposals ? WHAT CAN WE DO ? Any advice ? Any advice for us ... for all the born fools here
I am sorry, but this is not true.
Are you serious about that ? There are people who make a good living trading forex . Everything depends on a trader .
Nah, he's just venting. You blow up another account in no time?
Quoting Rob Mondave
Nah, he's just venting. You blow up another account in no time?
Probably did, but the second line has merit:
"You may have a great strategy but it will always fails in the long run."

A combination of strategies or ad-lib application of freeform tools seems more likely to work.
Also, how to know when a strategy has failed must take skill.
Anybody who attempts trading FX for the first time will probably be brutalized for five years like I was.....especially if you don't have a mentor. After that it is easy...because after 5 years of intense study you "know" what works and you know that you will not be right every time. If you don't study the market intensely by staying up until 4 am and spending countless nights with only a couple of hours of sleep.....you will probably never learn. Once you learn what works, there is absolutely no need to stay awake for an endless number of hours.....just relax and trade what you know......get your beauty sleep.....stay up until 3am only if you have to.
There's some true stuff here. (Not the first post).

Yes, a single strategy without taking into account new developments in the market would eventually fail along with the pre-programmed robots. You do need to be flexible. And it does take time.

But, anyone who truly believes that it is not possible to make consistent money trading, should not be trading. I mean, at a minimum, ya gotta believe.
Quoting CindyXXXX
The hardest part for you newer guys will be to accept the fact that you can't do this in 3 weeks...

  1. The hardest part to accept is the fact that you can't do this in 5 years.
  2. The hardest part to accept is the fact that you can't do this in 10 years
  3. The hardest part to accept is the fact that you can't do this in 20 years or more.

Heck, a lot of people have been driving for 5, 10, 20 years and they're nowhere close to being a formula one driver. Without the proper education and training, you ain't going nowhere... even with 20 years of experience

Quoting CrucialPoint

  1. The hardest part to accept is the fact that you can't do this in 5 years.
  2. The hardest part to accept is the fact that you can't do this in 10 years
  3. The hardest part to accept is the fact that you can't do this in 20 years or more.

Heck, a lot of people have been driving for 5, 10, 20 years and they're nowhere close to being a formula one driver. Without the proper education and training, you ain't going nowhere... even with 20 years of experience

CrucialPoint, although you're smarter than me, my IQ is only 138-144, I've learned the hardest part to accept for traders who aren't close to succeeding after 5 years is that a lot of others do succeed. It's just a combination of hard work and talent, and for anyone who has just a little bit of talent, if they work their butts off they'll succeed. For anyone who isn't close to succeeding after 5 years, either they're not working hard enough or they just don't have talent for this.

edit: The 5-year mark isn't necessarily fair, it's more like 10,000 hours. If you're able to practice and study 40 hours per week, 50 weeks per year, after 5 years you'll have done 10,000 hours. But if you can practice and study only 20 hours per week, it might take you 10 years to reach 10,000 hours. That 10,000 hour mark is a good benchmark.
Quoting Rob Mondave
my IQ is only 138-144,
I would certainly agree that a high IQ has little to do with trading ability. Is there such a thing as a "perception IQ"


idk
Quoting notime794
Eventually everyone who trades will lose more than they'll make, except for those who are pushing the market.

You may have a great strategy but it will always fails in the long run.
Sounds like someone woke up and realized he can't be a trading millionaire overnight using is big ole $100 account.

In all seriousness expecting a single strategy to always work at anything is pretty naive. In order to be successful at trading or anything you need to able and willing to constantly learn and grow, now most people can't or won't be able to do this, which in turn allows you to adapt to changes. The bottom line is that if your not willing to put in the long hours and years of time from the beginning, don't even bother wasting your time starting.
I don't know why but somehow this (the following) seems significant to trading. If anyone can point out the significance to me it would be appreciated. If I'm just having a "duh" moment, that's not unusual.

"Gamers Crack Code That Could Lead to New AIDS Treatments"

http://cache.gawkerassets.com/assets...um_fold-it.jpg"Scientists spent a decade trying—and failing—to map the structure of an enzyme that could help solve a crucial part of the AIDS puzzle. It took online gamers all of three weeks."

http://gizmodo.com/5841782/gamers-cr...ids-treatments

idk
Dont be discouraged. Myself, like most on these forums, are far in the red and not successful (yet)

Quote
Many of life's failures are people who did not realize how close they were to success when they gave up. -Thomas Edison
Quoting EmeraldEyes
Dont be discouraged. Myself, like most on these forums, are far in the red and not successful (yet)
If that's true then there MUST be a reason. Would you care to elaborate on why most are not successful yet?

Can we find the truth by defining the failure(s)?
Quoting egadsforex
If that's true then there MUST be a reason. Would you care to elaborate on why most are not successful yet?

Can we find the truth by defining the failure(s)?
Too many of us are gamblers.
Quoting EmeraldEyes
Too many of us are gamblers.
There are poker players who are extremely successful. If professional poker players are "gamblers" then it would seem erroneous to say that "too many are traders gamblers".

Part of this reasoning stems from the fact that if you are unwilling to "gamble" i.e. put your money at risk, then you have NO chance to win.

Is that a reasonable "reasoning".
Quoting egadsforex
There are poker players who are extremely successful. If professional poker players are "gamblers" then it would seem erroneous to say that "too many are traders gamblers".

Part of this reasoning stems from the fact that if you are unwilling to "gamble" i.e. put your money at risk, then you have NO chance to win.

Is that a reasonable "reasoning".
You're assuming that the "poker" aspect is the only aspect in the trading environment that they use for their success. I think the reason professional gamblers would find trading easier is the simple reality of experience in taking losses "on the chin" and the experience in money management. Half the battle. Once they combine this with some informed reasoning to put on a trade then they have as good a chance as anyone.

Not really hard to see why,

I think all Emerald eyes was saying is that too many adopt the plain gambling side of this coin, relying plainly on money management and "psychological stubbornness" to get them through. Without having a true edge.

You need both, not just one or the other. Agree?
Time hides Nothing
Quoting CindyXXXX
You're assuming that the "poker" aspect is the only aspect in the trading environment that they use for their success. I think the reason professional gamblers would find trading easier is the simple reality of experience in taking losses "on the chin" and the experience in money management. Half the battle. Once they combine this with some informed reasoning to put on a trade then they have as good a chance as anyone.

Not really hard to see why,

I think all Emerald eyes was saying is that too many adopt the plain gambling side of this coin,...
Au contraire mon petite ami.

You think that "well informed" is somehow the opposite of gambling. I beg to differ. If you put your money on the line without knowing with 100% CERTAINTY THE OUTCOME, YOU ARE GAMBLING.

How can you see it any other way? An "informed decision" is an estimate unless you are an "inside trader.

Al the people who bought all the houses weren't gambling were they? They had an "informed decision" that real estate would go up forever. They didn't "GAMBLE" BY TAKING OUT THOSE HUGE MARTGAGES. iT WAS A SURE THING. rIGHT?

ANYTHING FINANCIAL AND INDEED LIFE ITSELF IS A gamble AMIGOS.

If you haven't learned that yet.... you will.
As an addendum..... someone had a 300k per year job. Since they had that, they took a 10k monthly mortgage.

The gamble was that the job would last. It didn't.

Get it ??
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