Is Forex Trading A Scam? | Page 4 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

forex and all eas are a scam, stay away from forex 53 replies

How I uncovered Easy-Forex scam and few conclusions 2 replies

Forex Scam 16 replies

Attachments: Is Forex Trading A Scam?
Exit Attachments

Is Forex Trading A Scam?

  • #61
  • Dec 30, 2018 2:11pm Dec 30, 2018 2:11pm
Quoting hilmy83
{quote} i'd reward someone if they can prove they are profitable at forex with a TE say after 3 years of course there would be conditions has to be oanda or forex.com brokers..i don't trust overseas scam brokers has to take at least 10 trade setups a month (daytrading challenge not a position/investing challenge) has to start with at least $1000 (no broke ass traders who would trade like a maniac for a lucky streak) anybody?
You forgot darwinex.
LDFX Trading Ltd
  • #62
  • Dec 30, 2018 2:27pm Dec 30, 2018 2:27pm
Quoting dicojoxaftr
spotrate i'll give you a good an advice walk everyday for 30 min at least pray, work, eat, sleep & repeat from dust to dust and nothing matter its just a matter of matter
Well, that is a good advice, is it what you do ? If yes where is your humility ?
LDFX Trading Ltd
  • #63
  • Dec 30, 2018 2:30pm Dec 30, 2018 2:30pm
Quoting dicojoxaftr
{quote} again, It's not what you KNOW, it's what you can PROVE! so waiting you to prove that, but don't leave or change your decision and never ever start that challenge
Ok, so dicojocaftr, it is not what you (think) know but what you can prove, so my question is easy, what can you prove ?
LDFX Trading Ltd
  • #64
  • Dec 30, 2018 2:55pm Dec 30, 2018 2:55pm
Quoting LDFX
{quote} Ok, so dicojocaftr, it is not what you (think) know but what you can prove, so my question is easy, what can you prove ?
first too much questions man !! to give all the answers you should pay me man

let me make it more easy to understand,
im sure its a scam but not 100% sure as i said as you read, remember ?
its a scam because nobody and no authorities will allow someone to make millions of dollars in no time to control the world, i said that before and its so obvious and i never heard someone make millions and billions by trading while its possible, just open an order with 1k and close it with half million profit in one day ofc some guys is rich trading assets like w.buffett but my theory is that these guys are just an ad
i said also that anyone in the net who trade at least once in his life will agree with me that its not a profitable biz or its a scam, anyone saying its a scam is a real trader, not a demo trader and not an ad or fake guy with fake statements, all signal providers with transparent activity fails, th one who don't fail do some trick to sell you something, how to be sure that they are a scam because they will sell you something while they make an easy money by trading paradox!!

again, im sure its a scam but not 100% sure as i said as you read, remember ?
so im here and open to learn that i was wrong

anybody can prove me wrong ?

and btw what about darwinex ? do you have a real account following them ? i want the investor password pls

always cheers
  • #65
  • Dec 30, 2018 3:59pm Dec 30, 2018 3:59pm
The way it is marketed to retailers is a scam I guess as it give the impression of great riches and success, when in fact the true picture (on the whole) is just the opposite.
However, once in the game as individuals, win or lose is up to us, our strategies and abilities, nothing more.

No point in making excuses for losses, this just breeds bitterness, nothing more.
Come with me if you want to live....
  • #66
  • Dec 30, 2018 4:08pm Dec 30, 2018 4:08pm
Forex is not a scam, I agree people are mislead with how easy it is to make money and quickly find out that is not the case.
Forget Forex, if you go into any other business with limited knowledge, you have a very good chance of going broke.

People are are trying to make money on ridiculous timeframes that can only described as gambling.

To to be successful, a person will need a good W1 system, and will need to have good knowledge of the markets, complete with discipline to only enter when there is a valid trade.

All indicators are pure bullshit apart from Ma’s that most indicators are derived from.

Asw
  • #67
  • Edited Dec 31, 2018 2:01am Dec 30, 2018 5:11pm | Edited Dec 31, 2018 2:01am
Quoting Asw
Forex is not a scam, I agree people are mislead with how easy it is to make money and quickly find out that is not the case. Forget Forex, if you go into any other business with limited knowledge, you have a very good chance of going broke. People are are trying to make money on ridiculous timeframes that can only described as gambling. To to be successful, a person will need a good W1 system, and will need to have good knowledge of the markets, complete with discipline to only enter when there is a valid trade. All indicators are pure bullshit...
Spot on Asw

A lot come into trading with stupidly high expectations, if you can earn 20% a year consistently you're doing very well! And that won't be a linear 20%, one month you'll be up, next two months you'll be down, then the following month you'll be up big! This is why most cannot win with trading, they cannot cope with the loosing periods................
  • #68
  • Dec 30, 2018 6:04pm Dec 30, 2018 6:04pm
Quoting dicojoxaftr
{quote} first too much questions man !! to give all the answers you should pay me man let me make it more easy to understand, im sure its a scam but not 100% sure as i said as you read, remember ? its a scam because nobody and no authorities will allow someone to make millions of dollars in no time to control the world, i said that before and its so obvious and i never heard someone make millions and billions by trading while its possible, just open an order with 1k and close it with half million profit in one day ofc some guys is...
Yes I remember very well, so you are sure, but not 100%, is that even being sure ?

But really I am not sure to understand, you are saying, I quote « nobody and no authorities will allow someone to make millions of dollars in no time to control the world », please better choose your words, « control the world »?! « Make millions in no time » !?

I quote again « i never heard someone make millions and billions by trading while its possible », so yu are saying that it is possible but never heard off, right ? Well then it’s no surprise, the one bragging about it would be a total moron and again if you have not heard of it doesn’t mean Forex is a scam.

I quote again «just open an order with 1k and close it with half million profit in one day « you mean 1k like 1000$ ?! I actually can not believe your post I just read because it would be total delusional disorder.

Please read again your post.
LDFX Trading Ltd
  • #69
  • Dec 30, 2018 9:24pm Dec 30, 2018 9:24pm
That's just noobs doing what noobs do.
  • #70
  • Dec 30, 2018 9:59pm Dec 30, 2018 9:59pm

Forex trading is not a scam. It's a system that the majority of retail traders do not understand.


For a short history lesson...

  1. In the early 1990's, forex trading was limited to large financial institutions, corporations, hedge funds, and individuals with a substantial net worth.


"Why could only rich people trade?" you ask? Great question!

  1. Although quotes were as quick as a phone call, and the internet was beginning to connect the public, trading back in the day required un-leveraged capital of at least $1M ($1,000,000). So if you had at least $1,000,000 squished between your couch cushion sheets, you didn't get to trade. This was before the retail forex market came into existence, as quotes were produce by the interbank market, which did not offer leverage.


No money, no business.

  1. Back in 1992, there was a bit of global instability, as nations discussed ideas of dollarization, fixing exchange rates, and currency pegs.
  2. The uncertainty triggered significant devaluations in currencies on the financial markets.
  3. George Soros, a famous hedge fund manager of his firm, "Quantum" took advantage of the volatility and shorted 10 BILLION BRITISH POUNDS on a day better remembered in forex market history as "Black Wednesday". He is better known as "The man who broke the Great Britain Pound", later reporting profits in excess of $1 Billion by the end of the month.

I'm sure it's exciting to read about this return amount, and you are probably asking yourself - Can I do what Soros' company did some day, and make that kind of money on my own - or even a fraction of that through trading?

THE TRUTH IS THAT YOU CAN MAKE SERIOUS MONEY TRADING FOREX!


Then what are you missing, that's keeping you from making AND KEEPING a consistent profit?? Are you missing an indicator, or perhaps not interpreting the news correctly?

----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

The Birth of the Retail Forex Market

----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

  1. When the internet was more accessible (to the public) back in the mid-1990's, the world found itself able to connect in a whole new way. But interbank market access was still (and still is) costly, and so financial firms developed a cheaper alternative - retail forex market making.
  2. This firm structure enabled average individuals to access and trade on the currency market! Hooray!


But who pays the fees to access the interbank market? NO ONE DOES!

  1. The firm that you have an account with, either makes the market (Dealing Desk Broker), or acts as a mediator (Like an Electronic Communications Network), which processes all transactions to liquidity providers.
  2. In order to make the market, the market maker has to have the financial capacity to make trading possible.
  3. Essentially, the market you trade is MADE BY THE MARKET-MAKER, rather than processing your order to the costly interbank market, you are trading against the market-maker (or liquidity providers in the ECN model).
  4. When you buy or sell - the market maker uses proprietary trading funds to make your trade happen. They stand ready to take the opposite side of your trade, and fill it accordingly. But they are not interested in your financial security in the market...
  5. When you profit, they lose money! THIS IS NO CHARITY!
  6. But don't be discouraged! dealers have limits. They do not have unlimited equity, and so they also act as live investors, forcing the market to move in their best interest.
  7. They have a small set of tricks up there sleeves, in order together you to commit in the wrong direction, or to hop-in too early, and ultimately being forced out of your positions, or losing all the money you made that one time...

----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

The only way to be profitable, is by trading in-line with the dealing desk, placing your orders where they cannot touch!

Market makers have limits... Exploit them!

----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

It isn't your fault the system is against you.

I have spent over 2 years researching these things, and I came across a retired forex market maker, who spilled the beans... I am finally a consistent trader... Don't be discouraged, find a retired forex market maker who is willing to teach you...


Or message me!

-CMC

Discouragement is the language of the devil. Results over hype.
  • #71
  • Edited 10:45pm Dec 30, 2018 10:33pm | Edited 10:45pm
Quoting callmechief
Forex trading is not a scam. It's a system that the majority of retail traders do not understand. For a short history lesson... In the early 1990's, forex trading was limited to large financial institutions, corporations, hedge funds, and individuals with a substantial net worth. "Why could only rich people trade?" you ask? Great question! Although quotes were as quick as a phone call, and the internet was beginning to connect the public, trading back in the day required un-leveraged capital of at least $1M ($1,000,000). So if you had at least $1,000,000...

lol i was expecting the last sentence to be:

for only $99.99, i can teach you the ways of the the market maker, limited time only, then after 3 days, it will jump to $199.99

just kidding bro

so mr callmechief..you want to accept my challenge?

1 year live TE gong forward, with your market maker technique..with the conditions i set above

would $1000 be worth your while if this can be proven? if i'm wrong i'll never bother to join this types of discussion ever again...and you're $1000 richer

but if i'm right..well..that's $1000 for me...
  • #72
  • Dec 30, 2018 10:46pm Dec 30, 2018 10:46pm
Quoting LDFX
{quote} Guys, I am totally open and respect this theory but why everyone against is so sure that it is absolut scam ? There is so many differrent traders, how in the heck would you know that it is absolut scam ? At least give some studies or argument to be credible instead of seeing the forex world with your little eyes and insignificant experience.
Step 1: buy ECN brokerage
Step 2: check server for mt4 platform his Dinamic Data Protocol
Step 3: server doesn't send client orders to liqudity providers out just recive news and prices via DDP
Step 4: it scam

Step 1: discover long term on long term timeframe profitable system
Step 2: back test
Attached Image (click to enlarge)
Click to Enlarge Name: stupid long term.JPG Size: 29 KB


400$ goes to 3 millon $

Step 3: find ECN brokerage to get withrawal,
Step 4: you are banned and account closed

Next level:
step 1. contact liqudity provider
step 2. discover you need 450 millon $ to deposit to run brokerage and run system
step 3. question reality are those brokers scammers
  • #73
  • Dec 30, 2018 11:55pm Dec 30, 2018 11:55pm
Quoting callmechief
Forex trading is not a scam. It's a system that the majority of retail traders do not understand. For a short history lesson... In the early 1990's, forex trading was limited to large financial institutions, corporations, hedge funds, and individuals with a substantial net worth. "Why could only rich people trade?" you ask? Great question! Although quotes were as quick as a phone call, and the internet was beginning to connect the public, trading back in the day required un-leveraged capital of at least $1M ($1,000,000). So if you had at least $1,000,000...
i think i could agree on some of those points. often our sl hit by gap, but very rarely for tp hit by gap. very often the price stop when almost reach tp with just spread or even points left.
LUCKY golden trades, LUCKY gold investor trading style
  • #74
  • Dec 31, 2018 1:52am Dec 31, 2018 1:52am
Whether the Forex market is rigged or not doesn't really matter, it is how it is, there's no alternative! This is becoming a rather useless conversation.....

The only real scam in Forex is that it's perceived to be a "get rich quick" way to make money, so it therefore attacks all sorts to try and make money from the massive amount of new punters trying their luck.

More money is made from teaching you how to trade than from actually trading, that's the scam!!

Remember, if you can you do!! And if you can't, you teach..............
  • #75
  • Dec 31, 2018 2:15am Dec 31, 2018 2:15am
Quoting rover99x
Whether the Forex market is rigged or not doesn't really matter, it is how it is, there's no alternative! This is becoming a rather useless conversation..... The only real scam in Forex is that it's perceived to be a "get rich quick" way to make money, so it therefore attacks all sorts to try and make money from the massive amount of new punters trying their luck. More money is made from teaching you how to trade than from actually trading, that's the scam!! Remember, if you can you do!! And if you can't, you teach..............
I fully agree.
  • #76
  • Dec 31, 2018 3:02am Dec 31, 2018 3:02am
good attitude is very important.
test it, get to know more strategies.
use your own experience. Create your own method.
this may take several years.
  • #77
  • Dec 31, 2018 3:23am Dec 31, 2018 3:23am
Quoting spotrate
That's just noobs doing what noobs do.
'Noob' is the new word that you learnt today? You used it five times in three posts without saying anything about the subject. Are you ok? Do you need any help?

Best regards, Petru
  • #78
  • Dec 31, 2018 3:27am Dec 31, 2018 3:27am
Quoting LDFX
{quote} Yes I remember very well, so you are sure, but not 100%, is that even being sure ? But really I am not sure to understand, you are saying, I quote « nobody and no authorities will allow someone to make millions of dollars in no time to control the world », please better choose your words, « control the world »?! « Make millions in no time » !? I quote again « i never heard someone make millions and billions by trading while its possible », so yu are saying that it is possible but never heard off, right ? Well then it’s no surprise, the one...
The guy is a lunatic, stop trying to win arguments against him. He can't even write sentences correctly.

Petru
  • #79
  • Dec 31, 2018 3:52am Dec 31, 2018 3:52am
this is an unnecessary debate.
lol
  • #80
  • Dec 31, 2018 3:58am Dec 31, 2018 3:58am
Quoting LDFX
{quote} Yes I remember very well, so you are sure, but not 100%, is that even being sure ? But really I am not sure to understand, you are saying, I quote « nobody and no authorities will allow someone to make millions of dollars in no time to control the world », please better choose your words, « control the world »?! « Make millions in no time » !? I quote again « i never heard someone make millions and billions by trading while its possible », so yu are saying that it is possible but never heard off, right ? Well then it’s no surprise, the one...
u are more funny than spotrate, and i think the both of you are the same person maybe

i wounder why countries dont beat other currencies by trading successfully with a fake retail traders ?? if that was possible

ah i forget who im talking with, dr. nonoob

enough chit chat, its an empty discussion since only a few members write with honesty and logic

my last post in this thread is

if you think that we are wrong, accept hilmy83 challenge to prove it or just keep doing ur daily job because i think you are here as an employee nothing more

cheers.. coc breach
0 traders viewing now