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Attachments: Suicide and forex
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Suicide and forex

Quoting Hmsr
{quote} 99.999% ? That doesn't seem realistic
It is very much realistic. 99.999% are the net losers.

On average, about 30% of trades (opened positions) are winning and 70% are losing... It is not even a casino...
Maadik Hugiis. IQ 69.
Quoting HiddenGap
{quote} This is an incredible statement. May I have your permission to use it as my signature (if it fits)?
No problem HG. Thanks for the post.
If you are good at something, never do it for free--Joker
Dont trade until you know what you doing. trade demo until you are confident.
CindyXXX, the music you posted is mostly listen to the poor part of the society. Maybe even the poorest?

hahahaha!!!:-))))

And you rich kids listen to that music?!? Seriously?!?:-)))

I would not call it music at all. Pop music is soft porn, actually!:-)))))
Maadik Hugiis. IQ 69.
Quoting RondaRousey
{quote} Forex trading is like sports. It is very very competitive. You need talent to reach the top. Anyone, millions of people have a trading account to BUY and SELL. Anyone, millions of people can kick a round ball but very very few can be Cristiano Ronaldo or Lionel Messi. They were poor growing up. What separated tem from the rest? Talent. So are you going to commit suicide because you have no talent??? 99.9% of the people in the world don't have god given talent. But there are a few that possess it. https://www.youtube.com/watch?v=lOA5aTwJM3k...
This thread is not about whether or not it is possible to succeed at retail forex trading to some degree.

No doubt like any game of chance a rare few will be huge winners and can remain so for quite some time (eventhough, there is no evidence that such a creature exists)

This is about the fact that retail forex trading (and also other insanely speculative instruments) destroy lives like some addictive drug. The " forex-as-a-drug pushers" must be stopped.
Using the sports analogy ...
To brainwash a sunday tennis player out of his / her money with the belief that one day he / she can be like Roger Federer is criminal.
Quoting Mingary
{quote} This thread is not about whether or not it is possible to succeed at retail forex trading to some degree. No doubt like any game of chance a rare few will be huge winners and can remain so for quite some time (eventhough, there is no evidence that such a creature exists) This is about the fact that retail forex trading (and also other insanely speculative instruments) destroy lives like some addictive drug. The " forex-as-a-drug pushers" must be stopped. Using the sports analogy ... To brainwash a sunday tennis player out of his / her money...

I agree with you.

But as long as the myth you can make a living trading retail forex exists or getting so rich like the wolf of wall street. The services and products will continue.

People know you can't make a living playing roulette but retail forex is different,people believe in it. I think I have proved it with the studies I have shown. Exposed one of the most important traders here.Yet not one member has said anything,like that is interesting. Even the legends on this board were scammers like jacko and that James. James makes 80 thousand dollars through his subscribers per month. They did not make their money trading. Selling forex services got them rich. These crooks are selling a fake dream that can destroy people.

There needs to be a shift in thought. That this is like Las vegas,forex. The house has the Edge.
Quoting jmn5611
{quote} I can say to you only this. Brokers do not want you to lose. It is suicidal on their part. If everyone loses, who is left to trade and collect commissions? Brokers want you to win. If you are winning, then you will pay larger commissions as your size grows. Everyone loses at first, mainly because they think they are smarter than price. When you humble yourself and just do what you are told, you will be just fine in FX, or any other market. I don't understand why you would say FX is the crack of the financial instruments. It makes no sense....
Brokers don't want you to lose ?
They don't give a crap if you lose or not.
They want to make money off of you, win or lose.
If you think they don't have "strategic" meetings every day on how to best extract more money from your account you are very naive.
Quoting Redeflect
{quote} All 3 are true. 1 happens most of the time and it is designed that way on purpose... 2 happens rarely but that's why we don't really care for silly arguments... 3 happens often and that's why the business survives... Everyone gets what they want. It's not my job to tell others what they want. If someone decides they are going to become a trader then it's only a matter of time. I made that decision when I was a child before I even knew what it was called. If I didn't know that it was possible to do and that I was going to do it, despite having...
I am really the only one who knows that if one would invest 1 dollar in ALL retail accounts now, then in a short time this fund will be reduced to ZERO ... all of it transferred to "the house" (brokers and vendors) ?

So many people are being so obtuse that I think I am being met with ignorance or/and an agenda.
Quoting Mingary
{quote} Brokers don't want you to lose ? They don't give a crap if you lose or not. They want to make money off of you, win or lose. If you think they don't have "strategic" meetings every day on how to best extract more money from your account you are very naive.
And THIS is the problem I have.

I want to make a nice deposit and give it another try, but I'm very careful to do so.


“……they just want everyone to lose money and the winners to leave…” says industry insider.

 

  1. Trades against their clients best interests (e.g. asymmetric slippage, confusing dealing prices, unreasonable last look times, ignores/re-quotes/cancels deals without a specific reason),
  2. Hardly matches or intends to send/offset the majority of their unmatched volume to a real market (wholesaler / ECN / exchange / etc.),
  3. Profits directly from client losses,
  4. Cannot fully process withdrawal requests within one business day.

source:
https://www.financemagnates.com/fore...-shop-mindset/

Quoting HeyYou
{quote} And THIS is the problem I have. I want to make a nice deposit and give it another try, but I'm very careful to do so. “……they just want everyone to lose money and the winners to leave…” says industry insider. Trades against their clients best interests (e.g. asymmetric slippage, confusing dealing prices, unreasonable last look times, ignores/re-quotes/cancels deals without a specific reason), Hardly matches or intends to send/offset the majority of their unmatched volume to a real market (wholesaler / ECN / exchange / etc.), Profits directly...
....you missed out the part about how your trading-orders seem to suffer extraordinarily long delays in execution the minute you make a withdrawal.
Carbon-Dioxide: the gas of life!
Quoting Exodus
{quote} ....you missed out the part about how your trading-orders seem to suffer extraordinarily long delays in execution the minute you make a withdrawal.

"unreasonable last look times"
Quoting Mingary
{quote} This thread is not about whether or not it is possible to succeed at retail forex trading to some degree.
Quite correct. Your first post ..... "I am interested in suicide among discretionary retail traders, who usually suffer the greatest psychological and financial distress and would be less likely to attract major news coverage. Does anyone have any articles or anecdotes to share about retail trader suicides?"

Quote
No doubt like any game of chance a rare few will be huge winners and can remain so for quite some time (even though, there is no evidence that such a creature exists) This is about the fact that retail forex trading (and also other insanely speculative instruments) destroy lives like some addictive drug. The " forex-as-a-drug pushers" must be stopped. Using the sports analogy ... To brainwash a sunday tennis player out of his / her money with the belief that one day he / she can be like Roger Federer is criminal.
Clever salesmen have been selling dreams for aeons. It is morally deprecated, but tolerated none the less.

BTW the Wolf of Wall Street (as played by Leonardo di Caprio) was not a trader, he was a very adept salesman.
Carbon-Dioxide: the gas of life!
Quoting goose4
{quote} I agree with you. But as long as the myth you can make a living trading retail forex exists or getting so rich like the wolf of wall street. The services and products will continue. People know you can't make a living playing roulette but retail forex is different,people believe in it. I think I have proved it with the studies I have shown. Exposed one of the most important traders here.Yet not one member has said anything,like that is interesting. Even the legends on this board were scammers like jacko and that James. James makes 80 thousand...
thats for sure, when people want to sell something, there is in near 100% something wrong. most of the case the shit they sell is the wrong problem, they cant win from it so they sell it.

the main problem is, most of the people are stupid. they invest in signals or buy something without learning the basics first step by step, and so cant judge what bullshit they buy or what idiots/scammers they follow. biggest idiots/scammers in forums have so always the most followers, because scamming/faking good results is so extrem easy and the idiots like it to see and to believe in this shit because they are not intelligent enough to know the truth or not intelligent enough to learn the basics and see after this what bullshit this is. and any day new idiots are born.
Quoting Mingary
{quote} Brokers don't want you to lose ? They don't give a crap if you lose or not. They want to make money off of you, win or lose. If you think they don't have "strategic" meetings every day on how to best extract more money from your account you are very naive.
My response is that as someone who is familiar with the business, you could not be further from the truth. Brokers NEED winning customers. We are talking brokers who funnel trades into the wider market and do not directly trade against you. They called those "bucketshops" in Livermore's day, which is why he kept getting kicked out. A broker NEEDS winning customers because if they drain every traders of their 2K account, that is not enough to cover the cost of business. They need some big fish, and a whale or two. It's not a conspiracy if you lose Ming, it is because you think you are smarter than price. Do what you are told, put prudent risk behind those instructions, and you will begin to capture monthly ranges in your net. As long as you did not over trade, you will make money in any market that moves. What is over trading? Do not try more than twice in a day to establish a position. None of this is new.

Quoting HeyYou
{quote} And THIS is the problem I have. I want to make a nice deposit and give it another try, but I'm very careful to do so. “……they just want everyone to lose money and the winners to leave…” says industry insider. Trades against their clients best interests (e.g. asymmetric slippage, confusing dealing prices, unreasonable last look times, ignores/re-quotes/cancels deals without a specific reason), Hardly matches or intends to send/offset the majority of their unmatched volume to a real market (wholesaler / ECN / exchange / etc.), Profits directly...
Never had an issue with any of this. But, I am not a scalper either. The more you trade, the more you pay. I posted in the rookie section an Oanda document called How to Trade. Check it out. Now I know your testosterone will make you puff up and defend your manhood and all of that, but just call me an asshole and then go read the document. I promise you that you will not be sorry if you can check your ego at the door.

Quoting goose4
{quote} I agree with you. But as long as the myth you can make a living trading retail forex exists or getting so rich like the wolf of wall street. The services and products will continue. People know you can't make a living playing roulette but retail forex is different,people believe in it. I think I have proved it with the studies I have shown. Exposed one of the most important traders here.Yet not one member has said anything,like that is interesting. Even the legends on this board were scammers like jacko and that James. James makes 80 thousand...
1. If you trade smart, then your life can never be destroyed.
2. The house has the edge because of a very large sample size. The actual edge in some games is around 1%. But they have thousands of tables over hundreds of venues. They can also spot a pro and they will either get them drunk, or get them distracted. A lot of people who talk Vegas have never even been there. Lots of alcohol and young p*ssy. It is all there to throw you off your game. If that fails, then they will comp you in the best hotel room and send you whatever they can discern that you really like, and bring you back tomorrow, so that they can give their edge a change to finish you off. FX is absolutely NOTHING like Vegas.
If you are good at something, never do it for free--Joker
Quoting jmn5611
Now I know your testosterone will make you puff up and defend your manhood and all of that, but just call me an asshole and then go read the document. I promise you that you will not be sorry if you can check your ego at the door.

To be honest, I have never had any problem either except with my very first broker (slippage, requotes etc.) and my second one (slow withdrawals).

however it's a jungle
Quoting HeyYou
{quote} To be honest, I have never had any problem either except with my very first broker (slippage, requotes etc.) and my second one (slow withdrawals). lol at the second part...
Well most times when talking to younger men, they like to be right instead of making money. That is why they cannot cut losses or at the very least hedge them after a certain price level. Sorry if I belittled you in any way.
If you are good at something, never do it for free--Joker
Quoting HeyYou
{quote} To be honest, I have never had any problem either except with my very first broker (slippage, requotes etc.) and my second one (slow withdrawals). however it's a jungle
I can't be relaxed knowing all the things they do !
Quoting jmn5611
{quote} Well most times when talking to younger men, they like to be right instead of making money. That is why they cannot cut losses or at the very least hedge them after a certain price level. Sorry if I belittled you in any way.
I like you jmn, I would never insult you or feeling insulted byt you
  • Post #159
  • Quote
  • Edited 12:08pm Jan 21, 2018 11:37am | Edited 12:08pm
Quoting HeyYou
{quote} To be honest, I have never had any problem either except with my very first broker (slippage, requotes etc.) and my second one (slow withdrawals). however it's a jungle

I think vegas is better than retail forex at day trading.

Let's take a average of 2 pips spread across the board.

You have a 15 stop and 15 reward.

You have to make 17 pips to win the trade.

And 13 pips to lose the trade.

Or look at the odds you get offered from binary options,the house edge is like 25 percent !!!! 75 percent payout

With price action with day trading being random,just like roulette.

You get trends in roulette 20 plus reds in a row is common daily, or can be choppy,like forex,still it's a random beast. Just like forex trends.

The house (broker) has worst odds than table casino games.
Quoting goose4
{quote} I think vegas is better than retail forex at day trading. Let's take a average of 2 pips spread across the board. You have a 15 stop and 15 reward. You have to make 17 pips to win the trade. And 13 pips to lose the trade. Or look at the odds you get offered from binary options,the house edge is like 25 percent !!!! With price action with day trading being random. You get trends in roulette 20 plus reds in a row is common daily,still it's a random beast. Just like forex trends. The house (broker) has worst odds than table casino games.
heheheh,add swaps and it's even worse


that's why I think most brokers don't have to do anything except teaching bad strategies.
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