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Can YOU make money as a trader?

  • #61
  • Quote
  • Feb 9, 2018 12:57am Feb 9, 2018 12:57am
Quoting alphadude
{quote} If trading is gambling; then everything is gambling too: 1. Getting married is gambling; you may lose your assets AND your kids if that marriage is ended 2. Having s*x is gambling; you may injure your private organs 3. Driving is gambling; you may get an accident 4. Eating is gambling; you may get food poisoning 5. Breathing is gambling; you may breath CO2 too much and suffocate 6. 7. 8. and finally: 1000. Writing in FF forums is gambling; you may get radiculed the list will never ends
The Best comment so far. But the Truth still states that in every risk taken,their are opportunities.forex is definitely a very risky business, but all depends on your capability and capital to exploit certain price movements without emotions getting in the way.
  • #62
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  • Edited 2:13am Feb 9, 2018 1:39am | Edited 2:13am
Quoting OneOracle
{quote} No trading not gambling for me! Trading is my business and what people call 'losses' are my cost of business. They are part of my business plan, accounted for and expected. So I don't lose sleep or try to fix my strategy because some trades were not successful. I don't place 'bets' I open well calculated trading positions. As long as I hold that position I am actually controlling that amount of fund. Totally legitimate business and I pay taxes for my income. So most definitely trading is not gambling for me. You only speak for yourself friend....
If I may ..Isn't what you are saying just like what you would hear on a late night forex infomercial ? Or taken from some forex trading motivational material ?
Your are not explaining anything, you are stating "affirmations"
Are you making a living from trading in retail forex as your only source of income ?
  • #63
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  • Feb 9, 2018 7:15am Feb 9, 2018 7:15am
I am full of expectation to tap from your knowledge on how to make money as a trader
  • #64
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  • Feb 9, 2018 8:57am Feb 9, 2018 8:57am
Quoting Mingary
{quote} If I may ..Isn't what you are saying just like what you would hear on a late night forex infomercial ? Or taken from some forex trading motivational material ? Your are not explaining anything, you are stating "affirmations" Are you making a living from trading in retail forex as your only source of income ?
Mingary,

I have seen you post quite a bit of late, and it is almost all negative in regards to trading. I used to read your other postings back in the day, and I enjoyed them, but everything that comes from you now seems to have a bad taste to it. Why are you so jaded about trading? If you can't do it, just find something else you can do that you will succeed at. Staying here and posting negativity to these forums is unproductive for you and everyone else that sees your posts. If people wish to lose money without putting in the proper time or work, that is their business. You will not save them from that.

Newbeggar is here trying to talk about his way of doing things, and I would like to hear what he has to say. To you and everyone else who has hijacked this thread with pointless banter, I ask respectfully that you please take it somewhere else. I enjoy trading and continually learning about it from everyone's perspective.

Best of luck to you.
- Atreides
  • #65
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  • Feb 9, 2018 9:28am Feb 9, 2018 9:28am
Quoting Atreides
{quote} Mingary, I have seen you post quite a bit of late, and it is almost all negative in regards to trading. I used to read your other postings back in the day, and I enjoyed them, but everything that comes from you now seems to have a bad taste to it. Why are you so jaded about trading? If you can't do it, just find something else you can do that you will succeed at. Staying here and posting negativity to these forums is unproductive for you and everyone else that sees your posts. If people wish to lose money without putting in the proper time...
My apologies. I only meant to answer the question.
  • #66
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  • Feb 10, 2018 3:31am Feb 10, 2018 3:31am
No, I can't.
  • #72
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  • Feb 10, 2018 8:08am Feb 10, 2018 8:08am
Quoting Mingary
{quote} "But the drivel spread around that it "can't be done" by burnt victims or institutional traders" Wrong target Look rather in the direction of the "retail forex industry professionals" and various kind of scammers all proclaiming "it can be done"
How many times have you been scammed? I have never been scammed. I think people who get scammed are people looking for shortcuts. Well here in the USA, if you are mentally lazy, then a fool and their money are soon parted. They deserve it. Learn the business from the ground up. Stop looking to be hand fed, signals, magic indicators, etc. If they pay for that, then they were not scammed, they were simply stupid, and lazy.
If you are good at something, never do it for free--Joker
  • #73
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  • Feb 10, 2018 8:23am Feb 10, 2018 8:23am
My answer to the question is: yes. If you are smart enough, patient enough, and mature enough, you should give forex trading a try. If not, you will likely fail, and then you’ll risk become a FF troll, blaming “retail forex industry professionals”for your failures. Successful trading is hard work, and requires more brains, maturity and character than most people have. It rates right up there with rocket scientist, brain surgeon and professional athlete. If you aren’t or can’t commit to that level of preparation and hard work, then try selling cars or selling insurance for a living. That doesn’t make you a loser, rather it means you are normal. What makes you a loser is when you pollute threads like this one with your loser attitude.
  • #74
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  • Feb 10, 2018 8:31am Feb 10, 2018 8:31am
Quoting GEfx
It rates right up there with rocket scientist, brain surgeon and professional athlete. If you aren’t or can’t commit to that level of preparation and hard work, then try selling cars or selling insurance for a living. That doesn’t make you a loser, rather it means you are normal. What makes you a loser is when you pollute threads like this one with your loser attitude.
Humans make bad traders. Humans seek reward and wish to avoid risk. In trading, this translates to cutting winners and holding losers or averaging them without any kind of plan of when enough is enough.

I made a post somewhere that if a man wants to be a trader, then his old life is over. You will now be a young Bill Gates. You sleep under your desk. You make fateful decisions, and they will be your way, or the highway. If the wife is resistant, divorce her, and give her everything. Move into a one room shack with a computer. Learn the craft. Eat it, sleep it, dream it. Live at a hand to mouth level. Only this amount of commitment will do.

If you are religious, think of the Trials of Job.

If you are not religious, consider martial arts. At some point you must have undistracted focus. You must become what you want to be. You must be able to see the Matrix.

Let the flaming begin.
If you are good at something, never do it for free--Joker
  • #75
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  • Feb 10, 2018 9:13am Feb 10, 2018 9:13am
Quoting jmn5611
Well here in the USA, if you are mentally lazy, then a fool and their money are soon parted. They deserve it.
NO, fool and money does NOT deserve to be parted. You used that expression to, either consciously or unconsciously, justify your action knowing you will make harm to others. Common practice in finance, insurance and other scam industries, known as cognitive rationalization.

https://en.wikipedia.org/wiki/Self-justification

http://reflectd.co/2013/03/14/psychology-of-evilness/

You can do more research to educate yourself further, but somehow I doubt you will.

And your country USA has managed to be very good at cognitive rationalization, considering number of place around the world with its military presence - "obviously" fully justified. To a point that its citizens, like you, take it as normal. Thankfully those who sow the wind reap the storm.
  • #77
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  • Feb 10, 2018 9:47am Feb 10, 2018 9:47am
Quoting jmn5611
{quote} So why do you feel that you need to go on alert and spread disinformation every time something positive is going on?
Because of what you highlighted in yellow from my post

Psst, Ming is NOT the institutional trader.....
Come with me if you want to live....
  • #80
  • Quote
  • Feb 10, 2018 10:41am Feb 10, 2018 10:41am
Quoting Mingary
{quote} How can you possibly compare a career in medicine or science to a passing fancy for the many who lose and quit and to the few that are affected with this "glorified" gambling addiction ? and i just love this one: " If you aren’t or can’t commit to that level of preparation and hard work, then try selling cars or selling insurance for a living." so, let's see. 99.99999999 % lose at this game because they did not try hard enough.
Your foolishness is getting boring. I didn't compare a career in medicine to trading. I said if you aren't smart enough or patient enough or mature enough to do other difficult things, you're likely not smart enough or patient enough or mature enough to be a trader. If you made a try at a career in medicine or science as a passing fancy, then that kinda proves the point that you're a fool. Same holds true with trading. If you've never tried something difficult and succeeded, then just consider your try/failure at trading to be your first attempt at life, and move on, rather than moan and complain about how unfair it was. If you've tried other, difficult thing and failed, then you will likely fail here, too. If you've worked hard, have several advanced degrees, started a business, played profesdional.sports, things like that, then you may find some success at trading. Perhaps you need to grow up and face reality instead of complaining on and on about how the forex is just stacked against you.
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