Can YOU make money as a trader? | Page 41 | Forex Factory

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  • #801
  • Mar 8, 2018 6:36am Mar 8, 2018 6:36am
[quote=profitfarmer;10851371]
Quoting billytt
{quote} or here: https://www.forexfactory.com/789878#...explorer.68372 obviously, for some losing 50$ is a big deal, others losing few millions is not. guess it just depend on one's financial standing.
Absolutely epic!
Of course it's a PAMM account. Investors probably lost only $100.00 each ... and the trader had a minute amount of his own money in the fund .. so no big loss. Just utterly dismal as always.
If it's not a PAMM acount, then it's a cent account. No one has that kind of money under one name in a retail forex account.
  • #802
  • Mar 8, 2018 9:26am Mar 8, 2018 9:26am
Quoting Mingary
{quote} You are derailing the conversation because you know you have no ground to stand on. This is what kids do on the playground when they argue / fight Kid 1 "Give me back my bag, it's mine" Kid 2 "oh yeah, but your dad is a drunk" You (kid 2) started this 48 laws of power nonsense. Not me. How does your reply have anything to do with it ? You cannot argue this debate so you resort to the argument of an 8 year old. You are now on a slippery slope; just like this guy "Jiminy (jmn) / Rickety cricket ... https://www.youtube.com/watch?v=Sh46ZEAVOIk...
To label anyone quoting the 48 laws psychopath is
1. An ad hom.
2. A gross generalization.

So when you talk about 8 year old kids, yet again, a gross generalization.

So I would state again, who loses 200k without some kind of checks and balances?? Where was your risk profile??

Quoting Ill-b-back
{quote} Personally, I don't believe he lost the 200K. It (this apparent loss and fcuking up his life) was one of Mings' early posts when he joined FF. It set the scene, a dramatic entry, a platform for what was to come from his keyboard. While I agree with much of what he says about the forex promotional con game, and the losses across retail traders, there was no reason for him to assume to be in a position to dictate to traders what their potential is, or how their accounts will fair in the future. If each individuals potential was dictated by...
My point exactly. But if he did set this type of stage to be a good troll, it works.
If you are good at something, never do it for free--Joker
  • #803
  • Mar 8, 2018 9:33am Mar 8, 2018 9:33am
Quoting newbegger
I was discussing the topic and wanted to post my thoughts on making money as a trader. Many people have the idea that they are almost there, just missing one piece and then they will be able to quit their job and buy a mansion and yachts and expensive cars. Well, you may be almost there. And maybe not. Over the next few posts as time permits, I am going to tell you how I became a profitable trader. Some of it's ugly, terrible disappointments, humbling experiences, horrible crashes that many do not walk away from. You really have to have a burning...
hey pal its all about the cycle of doom consists of three phases. the first phase is the search. the second phase is the action. and the third and final phase is the blame. a close look at each of these phases reveals that the cycle of doom characterizes a logical approach to trading. to become a successful trader, however, you will have to break out of the cycle of doom. How do you break the cycle of doom? the first step is to understand the cycle. once you understand the cycle of doom, you may break free from the cycle of doom. It is important for you to understand what is happening so that you may identify it, and then move beyond the cycle of doom and into the world of consistent, profitable trading.

Phase 1: The Search
In this phase you are searching for a trading system. you may look for your trading system in trading books, in online trading forums, trading education websites, or you may find your trading system from speaking to another trader at a conference or meeting. in the end, it is not important where you find a trading system, only that you find a trading system that appears to be successful.
If you are unable to find a trading system that you are comfortable with, then you’re probably in phase 1. You will leave phase 1 only once you find a trading system that is truly exciting, a system that you look forward to trading. in fact, phase 1 of the cycle of doom is complete once you find a trading system that you simplycannot waitto trade. the defining feature of phase 1 is that the trading systemisthe solution. Once you have found a trading system that is exciting, you will move beyond phase 1.

Phase 2: The Action
Phase 2 is the action phase. this is the fun part; you begin to trade your system. If you are like most traders, you will leap into phase 2 with just about every trading system that looks decent. the excitement of using a new trading system is irreplaceable. This excitement comes from theunknown(more about this later). will this new trading system work? Will you become a billionaire trading this system? Is it everything you hope it to be? amid this excitement you begin to trade the system with high hopes. It is highly unlikely, given that you are extremely excited to start trading your new system, that you would have time to test your trading system. the proof for your new trading system is so overwhelming that there is no need to test the trading system. if you do decide to test your trading system before jumping into the action phase, congratulations, you are a member of the cautious minority of traders.

this is the exciting phase because you’re able to put your trading system to the test. you may not have decided to test your trading system before moving into the action phase. In fact, only a small percentage of traders do test a trading system before moving into the action phase. this action phase is punctuated by excitement. It is exciting to trade a new system, not knowing what may happen. you may find that the trading system does well for an extended period of time. Perhaps you find that optimism abounds. However, at some stage things look bleak. Maybe profits pour in early, but eventually the losing trades pile up. a drawdown eventually appears. There are several losing trades in a row. these trades may have appeared just as you decide to increase the risk per trade. Obviously, this was an ill-timed modification to your trading system. Just as you decided to increase the risk per trade, the system ran into a bumpy road. This drawdown is the beginning of the end of phase 2. this drawdown will mean that you lose faith in your trading system, and begin to move into the next phase.

Phase 3: The Blame
Phase 3 is the blame. the blame is the phase in which the trading system is scrapped. because the trading system has not found consistent profits, you decide to dump the trading system. the trading system is at fault. the trading system found the losing trades. the trading system must be responsible for the drawdown. frustration sets in because the system that looked so fool-proof ended up being a loser. you decide it is time to move on to a new trading system.

avoid those threee phase. make it mark pal.
  • #804
  • Mar 8, 2018 9:37am Mar 8, 2018 9:37am
[quote=billytt;10851267]
Quoting jmn5611
{quote} What is odd about your post is that you admit to your insanity. You lost nearly a quarter million, who does that? Hi bud, you obviously haven't been divorced ,lol trade well
Ha! What is not known unless you have been here is that in the USA we are more of a federation than an actual country. If you marry in Kansas, but get divorced in California you will be divorce raped. I live in a state where you have to be married five years or more to get divorce raped. In some states, it is ten years. Still in others, what you came into the marriage with is what you leave with, and everything you got together is split in half. So, one marriage lasted 2 years, the other lasted 4 years and 10 months. I was lucky to have a lot of honest women around me growing up, who told me to presume that the average woman is a gold digging con artist of questionable moral character and then let them prove otherwise. It was great advice and I am glad I listened.
If you are good at something, never do it for free--Joker
  • #805
  • Mar 8, 2018 10:03am Mar 8, 2018 10:03am
Quoting jmn5611
Quoting billytt
{quote} Ha! What is not known unless you have been here is that in the USA we are more of a federation than an actual country. If you marry in Kansas, but get divorced in California you will be divorce raped. I live in a state where you have to be married five years or more to get divorce raped. In some states, it is ten years. Still in others, what you came into the marriage with is what you leave with, and everything you got together is split in half. So, one marriage lasted 2 years, the other lasted 4 years and 10 months.
...
ok, i wished i had never attempted the joke.....OR do some US States not have humour???

trade well...
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #806
  • Mar 8, 2018 10:19am Mar 8, 2018 10:19am
Quoting billytt
{quote}{quote} ok, i wished i had never attempted the joke.....OR do some US States not have humour??? trade well...
Remember, yanks generally do not joke about money. We are forever calculating, forever optimizing.
If you are good at something, never do it for free--Joker
  • #807
  • Mar 8, 2018 10:25am Mar 8, 2018 10:25am
Quoting billytt
{quote}{quote} ok, i wished i had never attempted the joke.....OR do some US States not have humour??? trade well...
In some States it depends upon the colour of your skin, but in the UK it is more split on gender ... if I make a crack with innuendo or double-entendre I most spend the next ten minutes digging myself out of a hole. I think I will have to get her a forehead tattoo, something like "NSOH" ... just to remind me!
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #808
  • Mar 8, 2018 10:31am Mar 8, 2018 10:31am
Quoting jmn5611
{quote} Remember, yanks generally do not joke about money. We are forever calculating, forever optimizing.

ok, lol point taken.....
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #809
  • Mar 8, 2018 10:32am Mar 8, 2018 10:32am
Quoting Exodus
{quote} In some States it depends upon the colour of your skin, but in the UK it is more split on gender ... if I make a crack with innuendo or double-entendre I most spend the next ten minutes digging myself out of a hole. I think I will have to get her a forehead tattoo, something like "NSOH" ... just to remind me!
lol, i love it,,,, my ex wife was the same, notice i say ex.... she had the humour of a dead badger
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #810
  • Mar 8, 2018 10:35am Mar 8, 2018 10:35am
Quoting Exodus
{quote} In some States it depends upon the colour of your skin, but in the UK it is more split on gender ... if I make a crack with innuendo or double-entendre I most spend the next ten minutes digging myself out of a hole. I think I will have to get her a forehead tattoo, something like "NSOH" ... just to remind me!
In the USA the one court you do not ever want to be in is family court. If you are male, unless you have your ducks in row, you will be in deep trouble. Not sure how the color of the skin works, but then again I have only lived in 5 states out of 50.
If you are good at something, never do it for free--Joker
  • #811
  • Mar 8, 2018 10:37am Mar 8, 2018 10:37am
i hope you all have had a good day trading, or still having a good day.
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #812
  • Mar 9, 2018 12:39am Mar 9, 2018 12:39am
Quoting billytt
{quote} DO NOT USE LEVERAGE AT ALL, start small and accumulate......
Leverage is ok when used properly.

But it's ridiculous to see people trading at 400:1, scalping for 1 pip with no stop loss whilst moaning about their scamming broker and how the market's fixed.
A lion doesn't concern itself with the opinion of sheep.
  • #813
  • Mar 9, 2018 12:54am Mar 9, 2018 12:54am
Quoting martin-trade
{quote} Leverage is ok when used properly. But it's ridiculous to see people trading at 400:1, scalping for 1 pip with no stop loss whilst moaning about their scamming broker and how the market's fixed.
The reality is we all have to use leverage. The worse part is thag lower leverage temds to create a psychological barrieo which causes you to be utterly invested in your position. Overleveraging simply means maxing out the leverage given to you. So if it is 50:1 or 5000:1 and entering your position with a margin level under 200% is overleveraging.
  • #814
  • Mar 9, 2018 1:30am Mar 9, 2018 1:30am
Quoting Mingary
{quote} Anyone not ignoring me is a fool
So I am happy to be one....
  • #815
  • Mar 9, 2018 2:55am Mar 9, 2018 2:55am
Quoting martin-trade
{quote} Leverage is ok when used properly. But it's ridiculous to see people trading at 400:1, scalping for 1 pip with no stop loss whilst moaning about their scamming broker and how the market's fixed.

I make a valid point regarding not using leverage..

It is aimed at the new trader, Leverage the road to houses,cars and boats not not not....

AND yes it can be used correctly, but have you ever wondered why the brokers allow this????

trade well......
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #816
  • Mar 9, 2018 2:58am Mar 9, 2018 2:58am
Quoting HabibiForex
{quote} The reality is we all have to use leverage. The worse part is thag lower leverage temds to create a psychological barrieo which causes you to be utterly invested in your position. Overleveraging simply means maxing out the leverage given to you. So if it is 50:1 or 5000:1 and entering your position with a margin level under 200% is overleveraging.
i have never ever used leverage and lived to stop working lol.....
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #817
  • Mar 9, 2018 3:28am Mar 9, 2018 3:28am
How much money one can make, can only be determined by the market in which he trades.Each market has different advantages and disadvantages too..... I think one can make money if he has soo much experience or as you say have a burning desire too.and if you are novice then you can take advisory services from financial advisory companies that will help you in making money through trading.
  • #818
  • Mar 9, 2018 4:56am Mar 9, 2018 4:56am
Quoting billytt
{quote} i have never ever used leverage and lived to stop working lol.....
Of course you have used leverage Master.... What about in the demo account you flaunt as a real onone? Thhat has to have atleast 2:1 leverage. Lol
  • #819
  • Mar 9, 2018 4:57am Mar 9, 2018 4:57am
[quote=Mingary;10852101]
Quoting profitfarmer
{quote} Absolutely epic! Of course it's a PAMM account. Investors probably lost only $100.00 each ... and the trader had a minute amount of his own money in the fund .. so no big loss. Just utterly dismal as always. If it's not a PAMM acount, then it's a cent account. No one has that kind of money under one name in a retail forex account.
SSio becauze you wouldnt have money like that in your real account that would mean is so!eome else does then it is a cent account? Sir with all due respect get over yoirself.
  • #820
  • Mar 9, 2018 4:58am Mar 9, 2018 4:58am
Quoting edlawill
How much money one can make, can only be determined by the market in which he trades.Each market has different advantages and disadvantages too..... I think one can make money if he has soo much experience or as you say have a burning desire too.and if you are novice then you can take advisory services from financial advisory companies that will help you in making money through trading.
agreed,good post...

A newbie can startup and make a few good trades and win.

Then they are confident they can trade but they cannot... a of of the wins are basically luck...

They need to study the contradictions of the market.. example breakout/retrace for one....
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
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