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Successful traders are very, very rare to find

  • #141
  • Jul 12, 2018 7:45pm Jul 12, 2018 7:45pm
I might be a successful trader. Or not. Either way, why should I care about telling random people on the internet about it?
"If The Fool persists in his Folly he will become wise." - William Blake
  • #142
  • Edited Jul 18, 2018 12:41pm Jul 12, 2018 11:36pm | Edited Jul 18, 2018 12:41pm
{ personal information deleted by staff, per request }
  • #143
  • Jul 13, 2018 7:39am Jul 13, 2018 7:39am
Quoting Rennaissance
I don't know your experience, but successful traders are very hard to find. A lot of guys who seem successful will fail over the long because they use negatively skewed strategies. What's your experience guys?
Well, in my experience, a good way to avoid negatively skewed strategies is to have good software, and a good mentor, personally I use flowshark, they have a live educational room from 9am to 12pm for free.
  • #144
  • Jul 15, 2018 1:43am Jul 15, 2018 1:43am
It is not that successful traders won’t exist just to remember that successful traders are few in number in the forex market. There can be many reasons: forex requires good deal of patience, hard work and good amount of trading knowledge. Many traders lack these essential important aspects, like patience, adequate trading skills, expertise, good trading psychology, etc. that can help a forex trader to be successful in the forex market.
  • #145
  • Jul 15, 2018 12:20pm Jul 15, 2018 12:20pm
According to a recent survey among 57 brokers by the Australian Securities and Investments Commission (ASIC) 80% of Binary Options traders lose money, while the percent with CFD and forex traders is 72 and 63 respectively.

The findings are published in June in a paper titled �Improving Practices in the Retail OTC Derivatives Sector� and come as a warning to all forex, CFD and Binary options brokers in the country.

There are 37% out there. But as The Fool said, why the 37% wants tell random people on the internet? To sell some holy grail? They can easily make it through the market if they are profitable.
  • #146
  • Jul 15, 2018 12:37pm Jul 15, 2018 12:37pm
Quoting ChinaTraderz
There are 37% out there.
low and be hold,
Learn, a forex trader must, unlearn and relearn he will.
  • #147
  • Jul 15, 2018 1:22pm Jul 15, 2018 1:22pm
Quoting COGSx86
{quote} low and be hold,
Agree that. If it is rising, I really don't know where the money to be printed from to those profitable one.
  • #148
  • Jul 24, 2018 5:43am Jul 24, 2018 5:43am
Quoting ChinaTraderz
{quote} Agree that. If it is rising, I really don't know where the money to be printed from to those profitable one.
Every trader knows this. So they keep silence.

What I know there is someone that able to trade 100% winning rate. He has already shared his methodology somewhere. Not in one piece but many bites in one basket.

Many has already taste that methodology and feel the euphoria. Cause this.
100% winning trade
1:30 risk reward is just common. Some of them get 1:140 risk reward ratio.
Works on every timeframe. Of course tick chart.
They still trade with 2%.
What they get in a month.
They always expect 1000%.

But they realize forex is zero sum game.
So they tend to silence. And the starter too.
I look the thread today. It's just stuck there and going down covered with indicator, system and EA.

Yes the methodology is price action but not candlestick patern. But something else.
RIP RTM
  • #149
  • Jul 26, 2018 1:59am Jul 26, 2018 1:59am
Quoting Rennaissance
I don't know your experience, but successful traders are very hard to find. A lot of guys who seem successful will fail over the long because they use negatively skewed strategies. What's your experience guys?
I know a couple, they don't hang around forums as the negativity is not good to be around.

Why throw pearls to swine?
Never said I was Batman,all I'm saying is you'll never see us together.
  • #150
  • Jul 26, 2018 2:11am Jul 26, 2018 2:11am
Do the math (and stop speculating and hating)!

PS: you will find the percentage of retail clients losing money for every EU broker once August started.
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  • #151
  • Jul 26, 2018 2:24am Jul 26, 2018 2:24am
Quoting LorraineMor
It is not that successful traders won’t exist just to remember that successful traders are few in number in the forex market. There can be many reasons: forex requires good deal of patience, hard work and good amount of trading knowledge. Many traders lack these essential important aspects, like patience, adequate trading skills, expertise, good trading psychology, etc. that can help a forex trader to be successful in the forex market.
i agree with you. its always about the quality of trades and they are few in number. because it requires a lot of dedication and skill to sustain the trading results. some traders might climb he first ladder of trading success but fell off the wagon in between due to over confidence.
  • #152
  • Jul 26, 2018 2:30am Jul 26, 2018 2:30am
Maybe solution is:
find a system statistacally wins 52\56%
built a robot with this system with inside an antimartingale
let to do all at the robot and enjoy the true life(nature,love friendship hobbies)
  • #153
  • Jul 26, 2018 2:31am Jul 26, 2018 2:31am
My opinion is determine what is a successful traders. Its criteria based on how the traders achieve some percentage per month or living with trading only.
For me a successful traders is i can make the living of it, finance freedom and not tied with time with a long period of time.
  • #154
  • Aug 28, 2018 5:09am Aug 28, 2018 5:09am
Quoting Rennaissance
I don't know your experience, but successful traders are very hard to find. A lot of guys who seem successful will fail over the long because they use negatively skewed strategies. What's your experience guys?

A lot of guys 99% will fail due to trading psychology, they will not fail due to lack of profitable systems methods etc.
  • #155
  • Aug 29, 2018 4:17am Aug 29, 2018 4:17am
Quoting loozers
{quote} A lot of guys 99% will fail due to trading psychology, they will not fail due to lack of profitable systems methods etc.
Actually the psychology takes the role if you lack a profitable system.
  • #156
  • Aug 29, 2018 5:43am Aug 29, 2018 5:43am
Quoting Halley
{quote} Actually the psychology takes the role if you lack a profitable system.
The ancestral monkey brain we have interferes with profitable systems, as an example ;trader takes a bigger position based on overconfidence in a profitable system, add to losing positions and cuts profits due to loss aversion.
  • #157
  • Aug 30, 2018 12:33pm Aug 30, 2018 12:33pm
Quoting armando56
Maybe solution is: find a system statistacally wins 52\56% built a robot with this system with inside an antimartingale let to do all at the robot and enjoy the true life(nature,love friendship hobbies)
Mate, it looks easy but reality is different! Making a good trading system is not much easy task;
  • #158
  • Aug 31, 2018 4:01am Aug 31, 2018 4:01am
Money for one and what about the other? I learnt that the smaller time frames are for me more profitable, yet my wish was to trade slow and long term, i also realised that candle sticks are for me useless and i prefer renko for a more honest approach - again what works for me for sure is not for another but that is the way of the game, being successfull in another industry has also helped with the confidence level knowing that forex is not the be all and end all for me .. do i make pips yes but its hard work and plenty hours waiting for my set up to appear on two pairs only the obvious too of course. I wonder how when you look at April and May this year did higher time frame traders fare overall for those two months alone .. again what works for one for sure leaves a question mark for another .. lesson learnt watch and see the repeat moves for they are there each month.
  • #159
  • Sep 1, 2018 11:51am Sep 1, 2018 11:51am
Quoting dean1star
Money for one and what about the other? I learnt that the smaller time frames are for me more profitable, yet my wish was to trade slow and long term, i also realised that candle sticks are for me useless and i prefer renko for a more honest approach - again what works for me for sure is not for another but that is the way of the game, being successfull in another industry has also helped with the confidence level knowing that forex is not the be all and end all for me .. do i make pips yes but its hard work and plenty hours waiting for my set up...
When you say small timeframes and then say you use renko`s are you using renkos of 1 min...Timeframe and whhat are your renkobrick size in pips...I also tried renkos for a while but i tought it was too much slippage if i where wrong and you entered at a turn too many pips got away until you could infact lock in the reverse....i just wonder how doo you manage your trades??
You win some you loose some do both with peace of mind
  • #160
  • Sep 1, 2018 12:13pm Sep 1, 2018 12:13pm
The reality of our trading world is just like University level but standard of retail trader still in primary school . The real problem is they failed to raise their standard to meet the required level. For example, if you were to ask to solve a complicated math equation and you don't know how to do and failed to do so, do you turn to psychology book to help ? It's a JOKE
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