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It's been 3 years what have I learned?

  • #21
  • Dec 26, 2018 1:55pm Dec 26, 2018 1:55pm
Quoting plymgary
I've learnt it's a mugs game and nothing more than glorified gambling. I'm going to withdraw my money before I throw it down the drain with the fallacy that you can 'win' at Forex. I'll look to invest it elsewhere.

Your a smart guy.

Its been proven retail Forex is gambling. You cant win long term.

It all a lie.
  • #22
  • Dec 26, 2018 2:42pm Dec 26, 2018 2:42pm
Quoting TwFXtrader
Stop listening to others
Nonsense. You never listened to others? How did you learn how to trade. You mentioned price action. You learned it from your mother's womb. Tell us more
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #23
  • Dec 27, 2018 4:43am Dec 27, 2018 4:43am
Quoting goose4
{quote} Your a smart guy. Its been proven retail Forex is gambling. You cant win long term. It all a lie.
Why retails can't win long term? Can you explain?
  • #24
  • Dec 27, 2018 4:50am Dec 27, 2018 4:50am
Trading systems and trading discussions are made for seeing the market from another perspective not for copying the template and praying for a quick buck.

If you can't win in forex as a retail you are either dumb or just ignorant, probably both.
All systems are profitable over the long run, if you find a unprofitable system just do exactly the opposite of what system says and you will get a profitable system. Finding the best system is just as difficult as finding the worst.

Good luck
  • #25
  • Dec 27, 2018 7:20am Dec 27, 2018 7:20am
Quoting JsCave
{quote} normal people use facebook .. forex traders use forex factory :v
haha you are right I dont use facebook at all too boring
  • #26
  • Dec 27, 2018 8:40am Dec 27, 2018 8:40am
I'm sorry but you can win over time trading retail Forex!!
It's not easy but it's not that difficult either. Don't have unrealistic expectations and you'll get it right

One thing to remember is there's a lot of scamming these days about FX and more people try and teach rather than trade. Teaching can be very lucrative for some......
  • #27
  • Dec 27, 2018 8:44am Dec 27, 2018 8:44am
Quoting Petru00
Trading systems and trading discussions are made for seeing the market from another perspective not for copying the template and praying for a quick buck. If you can't win in forex as a retail you are either dumb or just ignorant, probably both. All systems are profitable over the long run, if you find a unprofitable system just do exactly the opposite of what system says and you will get a profitable system. Finding the best system is just as difficult as finding the worst. Good luck
That's not true, all systems are not profitable over time and you cannot just trade the opposite, that's just naive!
  • #28
  • Dec 27, 2018 3:20pm Dec 27, 2018 3:20pm
Quoting Petru00
{quote} Why retails can't win long term? Can you explain?

All markets, including forex, are too efficient for anyone to ever make money from it.
The movements in forex follow a random walk. No one, not retail traders, not big banks, not even insiders, can predict where the market will go. Everyone who speculates on the forex markets will lose money. Out of 100 trades, they will make money half of the time, and lose money half of the time. However, they will lose slightly more than they gain, because of the transaction costs.
This has been proven for 30 years, by market researchers like Brian Malkiel, Eugene Fama and etc.
Forex is just not a zero sum game. It is a NEGATIVE SUM GAME when you add in the brokerage costs.
I recommend anyone who wants to play forex to go down to your local casino and spend $50 trying to beat a roulette wheel. That roulette wheel will teach you more about forex than the internet ever will. It will save you a lot of hardship, and will help you come to the realisation that forex is just gambling, and will rip you off just as that roulette wheel did.
Technical analysis does not work. If it did, then people would buy/sell whenever there is a buy/sell signal and the advantage would dissapear because the price would move to yoru target profit even before you enter.
Fundamental analysis does not work, because if there was an advantage, then everyone will buy/sell forex to a price where the advantage no longer means anything.

Investing in long term assets will get you rich. Not trading forex.
  • #29
  • Dec 27, 2018 3:41pm Dec 27, 2018 3:41pm
Quoting goose4
{quote} All markets, including forex, are too efficient for anyone to ever make money from it. The movements in forex follow a random walk. No one, not retail traders, not big banks, not even insiders, can predict where the market will go. Everyone who speculates on the forex markets will lose money. Out of 100 trades, they will make money half of the time, and lose money half of the time. However, they will lose slightly more than they gain, because of the transaction costs. This has been proven for 30 years, by market researchers like Brian Malkiel,...
https://www.forexfactory.com/showthr...4#post11477134

Quoting goose4
{quote} https://www.forexfactory.com/showthread.php?t=236210 This method Thread a decade old and thread starter still posts. He makes 3 percent per day all proven,and stated he trades with several thousands lot size on the thread Learn and get rich. Its all here.


so what what happened in the last 2 months that changed your mind?
.
  • #30
  • Dec 27, 2018 4:15pm Dec 27, 2018 4:15pm
Quoting nasir.khan
{quote} https://www.forexfactory.com/showthr...4#post11477134 {quote} so what what happened in the last 2 months that changed your mind? .
I think he failed trading forex and now he is trying to find excuses to feel better about himself. Sad scenario.

Just a small procent of traders will make money, that is how trading works and that is how real life works. Just a small % will truly be successful in life.

I have to share this to show that not just in trading most people fail but in most things in life when competition shows up. Trading seems hard because everything we do in life we take step by step. Once we enter the market we're already at the most advanced level competing with banks, institutions and other retails who want to take our money. But who is smart enough and wants to win, will win.

https://www.forbes.com/sites/neilpat.../#482d6f366792
https://www.businessinsider.com/odds...l-players-do-2

Best of luck, Petru
  • #31
  • Dec 27, 2018 4:17pm Dec 27, 2018 4:17pm
Quoting nasir.khan
{quote} https://www.forexfactory.com/showthr...4#post11477134 {quote} so what what happened in the last 2 months that changed your mind? .

Research more about my post in that thread.How I went to attack him

I went undercover to destroy that scammer,being sarcastic

Hes very dangerous to noobs
  • #32
  • Dec 27, 2018 7:31pm Dec 27, 2018 7:31pm
Quoting Petru00
{quote} I think he failed trading forex and now he is trying to find excuses to feel better about himself. Sad scenario. Just a small procent of traders will make money, that is how trading works and that is how real life works. Just a small % will truly be successful in life. I have to share this to show that not just in trading most people fail but in most things in life when competition shows up. Trading seems hard because everything we do in life we take step by step. Once we enter the market we're already at the most advanced level competing...

Brilliant comment.......and welcome i see you're new :-)
  • #33
  • Dec 27, 2018 7:47pm Dec 27, 2018 7:47pm
Quoting scsstnt
{quote} Brilliant comment.......and welcome i see you're new :-)
Thanks . I'm trying to become a member so i can start threads. I will start a trading challenge in january and want to take forexfactory members in a long trading journey
  • #34
  • Edited 1:13pm Dec 29, 2018 1:02pm | Edited 1:13pm
Quoting goose4
{quote} All markets, including forex, are too efficient for anyone to ever make money from it. The movements in forex follow a random walk. No one, not retail traders, not big banks, not even insiders, can predict where the market will go. Everyone who speculates on the forex markets will lose money. Out of 100 trades, they will make money half of the time, and lose money half of the time. However, they will lose slightly more than they gain, because of the transaction costs. This has been proven for 30 years, by market researchers like Brian Malkiel,...
Hi goose4

In my opinion you're right in part of what you say, markets are indeed a random walk, but with a caveat, they're a Random Walk with Levy Flight! And it's those Levy Flights that enable you to make profit.
Also, in my opinion, you're correct in that Technical Analysis doesn't really make much difference in trade entries, it doesn't give you a trading edge over time! However they do give you nice structures to enter trades on, nothing more!
Your edge in trading Forex comes from capturing those Levy Flights that can sometimes go on for a while

I believe that most people loose because they come into trading with unrealistic expectations. The very best hedge funds make no more than 40-50% a year, so a retail trader should expect no more than around 15-20% a year, and if they achieve that they will do very very well especially if they compound!

I too agree that no one, not even the very best analysers, can predict the direction. It's purely a best guess !

So, yes you can make money from retail Forex trading! I do...........
  • #35
  • Dec 30, 2018 8:53pm Dec 30, 2018 8:53pm
Quoting TwFXtrader
Set yourself a goal to reach like making $100 a day --> $1000 --> $10000 a day (no limit)
The above quote alone gives away an amateur. But that's ok, it's part of the process. You'll grow out of it as long as you keep your mind open.
  • #36
  • Dec 30, 2018 9:44pm Dec 30, 2018 9:44pm
I learned that it's damn near impossible to be (consistently) profitable if you only have 0.5K to 5K. But, you can do it if you're not an imbecile trying to sound like you know something that almost all traders already know.
  • #37
  • Jan 4, 2019 4:00am Jan 4, 2019 4:00am
Quoting 9jatrader
{quote} Nonsense. You never listened to others? How did you learn how to trade. You mentioned price action. You learned it from your mother's womb. Tell us more
i shouldn't say never that was my bad
  • #38
  • Jan 4, 2019 4:30am Jan 4, 2019 4:30am
Quoting TwFXtrader
{quote} i shouldn't say never that was my bad
You're really a great trader. We just need to be humble. We came into this world with nothing. And so we learned from one another, but not from everyone. We can help one another with strategy by keeping your thread going and fresh. You have nothing to loose when you humbly share with others

Thanks for your subscription. I have also subscribed to you
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -66.1%
  • #39
  • Jan 9, 2019 10:40pm Jan 9, 2019 10:40pm
Quoting JsCave
3 years still soo early--- you still have long journey ... by the way we are in forum because we just feel boring not because we looking for strategies etc... so it's way for spend time.. when you find your way you will start get boring {quote} unfortunately .. forex now full with scammers and selfish traders that they thinking they are the best and they have secrets... even forums not the same as before ... before traders in forums was much better and humble than this days...unfortunately not healthy environment this days ... by the way.. good...
Yup 3 years is nothing.
Forex it's a scam it's because of the high leverage trading
Which makes most people lost their accounts

If my family wants me to teach them how to trade , I won't .
  • #40
  • Jan 12, 2019 5:36am Jan 12, 2019 5:36am
Quoting TwFXtrader
{quote} Yup 3 years is nothing. Forex it's a scam it's because of the high leverage trading Which makes most people lost their accounts If my family wants me to teach them how to trade , I won't .
so what is your purpose to start this thread if you dont want to help and teach others how to trade??
MRMALIK1
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