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Would you recommend trading?

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  • Would you recommend trading ?
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  • #1
  • First Post: Edited Sep 5, 2019 1:28pm Sep 4, 2019 1:30am | Edited Sep 5, 2019 1:28pm
Considering that most people lose some money, few lose ALL their money... is it good to protect them ?

I think the problem is not losing money, but losing your mind due to high leverage.


so yeas I would recommend it with leverage restriction. There you have the time to learn from the mistakes, instead of blowing the account immeditely and gain risk awareness... which is something that cannot be taught IMO.
  • #2
  • Sep 4, 2019 2:57am Sep 4, 2019 2:57am
I vote no without hesitation considering the huge cost involve in terms of time to learn how to trade profitably, expect 10years and more learning window of 24/7 fx addiction to chart staring. Unless someone is that crazy to do it with no guarantee to succeed even with hard work and passionate commitment. The success rate is very low, failure is the norm except for forums like FF. Get a job, trading forex for easy money is a fantasy.
  • #3
  • Sep 4, 2019 5:21am Sep 4, 2019 5:21am
Quoting skyway
I vote no without hesitation considering the huge cost involve in terms of time to learn how to trade profitably, expect 10years and more learning window of 24/7 fx addiction to chart staring. Unless someone is that crazy to do it with no guarantee to succeed even with hard work and passionate commitment. The success rate is very low, failure is the norm except for forums like FF. Get a job, trading forex for easy money is a fantasy.

that sound like a gambling addiction man......... sad

it has A LOT to do with high leverage, little to do with trading... sorry.
  • #4
  • Sep 4, 2019 7:14am Sep 4, 2019 7:14am
Forex trading automatically refers to retail fx trading.

Day trader, trading for a living, replacement income from current shitty job or unemployment, forego college education and so on....

Trade forex to the level that the profit earned is equivalent to the traders potential employment income will not happen for most traders. The losers statistics show a large loser pool, that's the reality. The long term winners statistics is a very small number.

Even if the trader is capable to gain profits at this income replacement level for a number of years, there is still this possibility that shit hits the fan things go badly south and the financial status instantly shredded due to bad trades. There is no security.

Employed as a forex trader with the financial institutions is an employment, a job.

I can't recommend full time retail forex trading as a income replacement venture given the reality of this activity. No.

Supplement income, retirees hobby, and so on......well enjoy yourself.
  • #5
  • Sep 4, 2019 9:24am Sep 4, 2019 9:24am
Initially I was chasing quick easy money, over the years it has turned into a riddle that needs to be solved.

I agree that protections should be in place to prevent naivety leading to lost retirement funds.
But this should not be at the expense of losing the low entry requirements.

Of course some people claim to trade profitably without solving the riddle, but that's not my goal.
Why is a Raven like a Writing Desk?
  • #6
  • Sep 4, 2019 10:11am Sep 4, 2019 10:11am
Quoting Rastus81
Initially I was chasing quick easy money, over the years it has turned into a riddle that needs to be solved. I agree that protections should be in place to prevent naivety leading to lost retirement funds. But this should not be at the expense of losing the low entry requirements. Of course some people claim to trade profitably without solving the riddle, but that's not my goal.

Well said mate. nothing better than the eureka moment.

Inserted Video
  • #7
  • Sep 5, 2019 9:39am Sep 5, 2019 9:39am
Why not give it a shot on a demo?

Whether someone recommends it or not is not relevant to you. Everyone here is going to talk from their personal experience. Open a demo, find a good strategy, and trade it. This may take some time and don't give up after a few weeks or even months. Then you can truly see if trading is for you or not. It's not for everyone. In fact, it is not for most people and that's just the harsh reality. However, giving it a real shot is the only way you will know.
  • #8
  • Sep 5, 2019 1:24pm Sep 5, 2019 1:24pm
Quoting MustardJam
Why not give it a shot on a demo? Whether someone recommends it or not is not relevant to you. Everyone here is going to talk from their personal experience. Open a demo, find a good strategy, and trade it. This may take some time and don't give up after a few weeks or even months. Then you can truly see if trading is for you or not. It's not for everyone. In fact, it is not for most people and that's just the harsh reality. However, giving it a real shot is the only way you will know.
Cause on DEMO you don't trade with your hard earned money.

Also I don't need to test my strategies on demo cause I use EAs.

I can test 1000 systems a month using the strategy tester, so there's absolutely no need to test them on demo.
  • #9
  • Sep 6, 2019 6:39am Sep 6, 2019 6:39am
i voted mate i will follow your thread its a interest one
people leave, but this thread will go on for ever
  • #10
  • Sep 6, 2019 7:28am Sep 6, 2019 7:28am
"yes" or "NO" and "NO" is written with capital letters.
It is like 50- years old policeman to tell me this is not a good job, but he still living with it. Or some smokers. Will be confusing.
I voted "Yes".
  • #11
  • Sep 6, 2019 10:23am Sep 6, 2019 10:23am
Quoting bigiivan
"yes" or "NO" and "NO" is written with capital letters. It is like 50- years old policeman to tell me this is not a good job, but he still living with it. Or some smokers. Will be confusing. I voted "Yes".

fun isn't it.
Those who voted a big NO must really hate what they do....

Personally, I benefited A LOT from this journey.. it has been like a therapy LOL

so I'm happy to see that most people voted "yes". just don't leave your job etc. lower your expectations, drop them, because the market is a bitttttch
  • #12
  • Sep 6, 2019 11:46am Sep 6, 2019 11:46am
Quoting HeyYou
{quote} fun isn't it. Those who voted a big NO must really hate what they do.... Personally, I benefited A LOT from this journey.. it has been like a therapy LOL so I'm happy to see that most people voted "yes". just don't leave your job etc. lower your expectations, drop them, because the market is a bitttttch
I think when you see a successful man, it is no matter what he will say to you. When you see his happyness, his way of life, you become his fan and start follow him. No matter what he will say. Instagram and his influencers are a typical example.
  • #13
  • Sep 6, 2019 12:21pm Sep 6, 2019 12:21pm
To me, one should never leave a job for forex trading.
  • #14
  • Sep 6, 2019 3:34pm Sep 6, 2019 3:34pm
I voted YES

BUT

90% of Manual traders Lose - NO (Unless you learn to scalp)
90% of Algo traders Win - YES

I just spend three weeks traveling Europe while trading out of a laptop. All I need is 10 minutes a day to check my VPS accounts working correctly.
I didn't push one buy or sell button or worry about the latest Trump news, the Algo's I write (after I discard many bad ones) make me money while I sleep or travel.

Below is this weeks return from 1 Hedging Strategy I run.
Attached Image (click to enlarge)
Click to Enlarge Name: hedge 777.png Size: 89 KB
Trading thin liquidity at the boundary of the charts
  • #15
  • Sep 7, 2019 6:22am Sep 7, 2019 6:22am
Quoting skyway
I vote no without hesitation considering the huge cost involved in terms of time to learn how to trade profitably, expect 10years and more learning window of 24/7 fx addiction to chart staring. Unless someone is that crazy to do it with no guarantee to succeed even with hard work and passionate commitment. The success rate is very low, failure is the norm except for forums like FF. Get a job, trading forex for easy money is a fantasy.
Trading is a tough profession. You need ample financial resources and psychology training to struggle in a no-level playing field and non-transparent environment.
Unfortunately, it is projected as a route to make easy quick money.

Attached Image


I have learned trading old-school way by spending more than 15,000 screen hours and now realise it is really not necessary these days.

A major issue for small account holders is that spot forex does not have any other risk control method except Stop Loss that does not require injecting additional capital like hedging or pairs trading.

Small account holders will do well by:

1. Focussing on practising one Breakout/Breakout strategy for at least one year that should deliver at least 80 pips in a trading time of 1 to 2 days and manage risks by Stop Loss.

And If you can't handle stop-loss,

2. Just focus on practising for one year one Breakout/Breakout strategy that MUST deliver at least 150 pips in a trading time of 1 to 10 days and buy Currency Futures Options (trading cost maximum of 6 pips including commission and spreads for a round trip - No swap - overnight interest fee- costs. No Margin Calls because fixed leverage is provided by the Exchange. Learning time: (for intermediate fx trader) : 3 months. Contract value with each pip costing $12.50. If you buy an option for 30 pips with a duration of 30 days it will cost you US$375 (depending on the symbol) for entry and it may take 30 pips of movement to break even. If you gain 150 pips in two days, your net profit will be at least 60 pips - 200% return on your capital.

Over-the-Counter options platforms are a handful like Saxo Bank, IGindex, Fxbridge and easymarkets that accept smaller contracts but none of them charges less than 20-30 pips. you will start with a negative balance of 30 pips (for contract valued at $1 per tick) and it may take just 100 pips of movement to break even. If you gain 150 pips in two days, your net profit will be around 30 pips - 100% gain.

3. Stop analysing the market and instead use the time to understand the markets through the lenses of experienced FREE currency-watchers.
A few minutes is what you need to make up your mind to execute the simulated demo trades on MT4. Just zero in on a maximum of three forecast experts to avoid over-thinking. Among the three, you should have one forecaster for news trading. Another who uses RSI for forecasting. The third one makes forecasts based on Demand and supply. Never pay any money to forecasters, signal providers or trade copiers.

4. Connect with a spot fx trading journal site like myfxbook.com or fx blue, or else find a broker platform like Darwinex which provides free analytics on their site itself. It will help you understand how to refine your breakout trading.

Unfortunately, there is no site for analysis of options trading.

Good luck to all who know the value of practice, patience and perseverance.
Practice makes a person perfect
  • #16
  • Edited 1:05pm Sep 8, 2019 1:36am | Edited 1:05pm
Quoting simnz
{quote} Trading is a tough profession. You need ample financial resources and psychology training to struggle in a no-level playing field and non-transparent environment. Unfortunately, it is projected as a route to make easy quick money. {image} I have learned trading old-school way by spending more than 15,000 screen hours and now realise it is really not necessary these days. A major issue for small account holders is that spot forex does not have any other risk control method except Stop Loss that does not require injecting additional capital...

very interesting post s.
In my opinion, it is tough because we complicate things.

When I started (8-9 years ago ???) it was very, very easy, I just said to myself "start small, if it works, great, if it doesn't, it doesn't.".

then I started listening to the professionals, and confusing myself with strict risk managment rules etc..

retail FX is amazing because we can afford to be flexible with risk managment.

strict RM is not for everyone, not trading itself IMO.
  • #17
  • Sep 8, 2019 2:37am Sep 8, 2019 2:37am
Oh, listening to the "fantasists" on forums was also very detrimental.

I don't know which one is worse.

Btw I don't want to make anyone feel guilty. it is what it is.
  • #18
  • Sep 8, 2019 4:30am Sep 8, 2019 4:30am
I wonder how many of those who voted "Yes" have actually been consistently profitable for at least one year.

The fact is that most people lose. On FF you see people who are considered good traders starting TEs just to remove them after a few weeks and keep pretending like everything isfine. 99% of what we read on FF are lies and bull****. There are very few people that are profitable here and the rest are just hoping to become that one day.


As for the votes here, its ridiculous that you would recommend trading as a job to an average person. Its like recommending an average person to become a professional basketball player. Only the best of the best make it and most people are not capable of it.
  • #19
  • Sep 8, 2019 4:47am Sep 8, 2019 4:47am
Quoting xtradex
I wonder how many of those who voted "Yes" have actually been consistently profitable for at least one year. The fact is that most people lose. On FF you see people who are considered good traders starting TEs just to remove them after a few weeks and keep pretending like everything isfine. 99% of what we read on FF are lies and bull****. There are very few people that are profitable here and the rest are just hoping to become that one day. As for the votes here, its ridiculous that you would recommend trading as a job to an average person. Its...

Yes, good point.. I thought it was implicit "retail trading"..

even though it can be considered a business, at least I consider it a business.... half serious.
  • #20
  • Sep 8, 2019 6:00am Sep 8, 2019 6:00am
i considerate it a business , people who do not learn it and work on it will fall by the wayside before you start business do-diligence is important , doing a trade its important to do a apprenticeship first i can go on so why do not people do the same with trading , it is simple greed gets in the way they read the hype and think their a good trader
people leave, but this thread will go on for ever
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