by Ecclesiastes 1:9: What has been is what will be, and what has been done is what will be done, and there is nothing new under the sun
Has anyone become wealthy from forex? 172 replies
Why the rich could not become richer? 13 replies
Will most Forex brokers even allow you to become rich? 6 replies
Has MT4 Multi Account Terminal trading become obsolete? 2 replies
Has trading become harder? 0 replies
DislikedI'm certainly not 'rich' from trading forex, however it does provide an excellent, regular income. Over a 5 year period I have made around £60,000. Not a fortune but a good income boost.Ignored
DislikedImagine go enrolling to the world toughest Department of Forex Investment of the universities as listed below (toughest than Physics Department in MIT, Caltech or Oxford University). These are
1. Alpari University in UK (Rank No 3) or
2. ACM Institute of Tech in UK (Rank No 4) or
3. Oanda University (Rank No 5) or
4. Ducascopy University of Switzerland (Rank No 2)
5. dBFX University of Germany (Rank No 1).Ignored
DislikedThe only way to gain in forex or any other market is to really understand FUNDAMENTALS and ONLY FUNDAMENTALSIgnored
DislikedWhat I also understood - its almost impossible to win high profits having too small deposit (at least smaller than 10000$)Ignored
DislikedIf you made this money by using technical analysis, stop loses and "trading discipline" then you are very very lucky or you are damn liar!Ignored
Disliked..not sure why i'm being called a 'damn lier'. please explain.
In 5 years of trading, I have made approx £60,000.
this is starting with a £100,000 account.
So thats about 10% per year compounded.
This is not so remarkable.Ignored
DislikedThat is only a little over 7.5% annually. Depending on where you live you have barely outperformed inflation. Do yourself a favour and research less risky vehicles that give you that and more.Ignored
DislikedYou may want to recalculate that:
Year 1 100,000 x 8.15% = 108,150
Year 2 108,150 x 8.15% = 116,964
Year 3 116,964 x 8.15% = 126,496
Year 4 126,496 x 8.15% = 136,806
Year 5 136,806 x 8.15% = 147,956
Year 6 147,956 x 8.15% = 160,014
Like I said, why bother. Buy a Stocks/Bonds ETF and your money is lots safer. They have returned 9.22% on average per year in the last 100 years. Your trading return fails to outperform what is commercially available to any punter and you should seriously reasses your portfolio. Any money manager out there would...Ignored
Disliked????
Before mud slinging my friend, you will notice that I said 5 years not 6. So thats 10% compounded (as I said).Ignored
DislikedThose aren't universities, they're casinos.
If it's education you want, stay the hell away from those. Teach yourself some math (prob/statistics), some economics (supply/demand), some psychology, market nature and mechanics (e.g. why/how prices moves), etc. Pick only scientific/academic sources and stay away from trading "education" written by self-proclaimed gurus, newbies, traders who are on a winning run and think they now know everything, broker affiliates, and last but not least: brokers. Whenever you spot any of that education,...Ignored
Dislikedyou can have casino mentality if you like. That's why 95% in forex trading is loserIgnored
Disliked[list][*] Forex trading is endlessly fascinating[*] Profitable trading is extremely difficult, very few will survive[*] Forex trading is an extremely addictive way to gamble[*] Real money and demo money are totally different[*] Money is not always safe with your broker[*] Lagging indicators will loose money MA's, MACD, Stochs etc[*] The vast majority of market parameters have 50% probabilities[*] Even if you find an edge, it may disappear without warning[*] Most systems and methods don't work in practice[*] Pretty much all 'educators'...Ignored
DislikedI'm certainly not 'rich' from trading forex, however it does provide an excellent, regular income. Over a 5 year period I have made around £60,000. Not a fortune but a good income boost.Ignored
DislikedCloggie brings up an interesting question. Why do we trade Forex? Rather than compounding steady returns in other markets.
I think Forex gives investors the chance to be creative. Developing trading strategies is interesting, intellectually challenging and fun.
These are the facts I know and have learned the hard way:
[list][*] Forex trading is endlessly fascinating[*] Profitable trading is extremely difficult, very few will survive[*] Forex trading is an extremely addictive way to gamble[*] Real money and demo money are totally different[*]...Ignored
DislikedIt doesn't goes up and down with the same frequency and amplitude. If it does, then forex trading is a zero sum game machine (loser and winner are equal). The edge is the 'amplitude differences" that determine the winner and the loser. Those who know precisely when it make the differences (the edge) is the winner (5% traders) and those who don't know is the loser (95% trader). Any softwares developer that said that his will tell where the edge is (holy grail location), are no more than a seller riding holy cow peddling "snake oil" that said it...Ignored