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Forex - A negative sum game for losers

  • #401
  • Edited 9:14am Oct 2, 2019 8:49am | Edited 9:14am
https://blog.usejournal.com/things-y...g-a97bbc8d19fa

This is a good and realistic summary of the topic trading for a living.

Retail forex (or other forms of speculative trading) is a negative sum game for losers.
  • #402
  • Oct 8, 2019 4:48am Oct 8, 2019 4:48am
As predicted.... the day will come when all those selling the lie of profitable binary options and retail forex trading under flase claims will pay the price:

https://www.cftc.gov/PressRoom/PressReleases/8047-19

This is the beginning..... there are so many out there than must be brought to justice.
  • #403
  • Oct 8, 2019 4:58pm Oct 8, 2019 4:58pm
HUDithepfupf

can I ask why are there many members on forum who claim to trade for a living ? with retail platform

How do you explain this ????

Kind regards,

goose
  • #404
  • Oct 8, 2019 6:41pm Oct 8, 2019 6:41pm
Quoting goose4
HUDithepfupf can I ask why are there many members on forum who claim to trade for a living ? with retail platform How do you explain this ???? Kind regards, goose
i am one
people leave, but this thread will go on for ever
  • #405
  • Oct 9, 2019 8:11am Oct 9, 2019 8:11am
I simply don't believe it. You list no evidence of your claims to make a living from retail forex trading:

However you list:

  1. took me a long time
  2. lot of pain
  3. lots of trial and error trading

These statements show that you invested like many other massive time and money in becoming a "consistently profitable" trader. I doubt that you are net positive since your beginning - not with retail forex trading. If you invested in the stock market over the last 30 years without leverage you couldn't do much wrong if you used diversification to be net positive.... so it might be that you mix up you overall gains and your forex trading skills.

It is possible that you currently have a periode where you have a positive net result over a certain time periode.
All research shows that you do not have a higher probablitiy of being net positive over the next year doing exactly what you do this year.
All scientific evidence I found so far showed that specualtive trading in a zero sum market can't be learned and is not a skill set. No study was able to show a significant learning effect. Nobody can outpredict the market - if your trading is based on specualtive prediction you will lose in the long run.

Skills allow you to avoid the most stupid mistakes done by many retail traders like overleveraging, add to losing positions, etc. but it won't make you consistently profitable in the long run as a retail trader - certainly it will be allways worse than having a real productive job.

PS: In other threads you talk about "we"..... who is we?

  • #406
  • Oct 9, 2019 9:37am Oct 9, 2019 9:37am
THIS thread is a decade old

Kronas is still making living and is a millnare according to the thread from the system ,he still posts

There are many followers who make a living on the tread that still post.Trading the dance

Surely all cant be lying ?

How do you explain this HUDithepf?????

https://www.forexfactory.com/showthread.php?t=236210

Is this not proof that it can be done ?
  • #407
  • Oct 9, 2019 10:48am Oct 9, 2019 10:48am
Quoting goose4
THIS thread is a decade old Kronas is still making living and is a millnare according to the thread from the system ,he still posts There are many followers who make a living on the tread that still post.Trading the dance Surely all cant be lying ? How do you explain this HUDithepf????? https://www.forexfactory.com/showthread.php?t=236210 Is this not proof that it can be done ?
Huddy will believe what he wants to believe so it is best to let him stare at his "glass half empty."
Why does he attack people here by demanding proof ?
Perhaps he is hoping someone will hand him a trading system that requires no effort from himself. Not going to happen. Someone else's trading statement will not make him a profitable trader.
Best thing Huddy can do is go away and put together his very own trading plan - yes he will have to read and experiment, deploy time and effort in demo and small amount trading UNTIL he finds an approach that suits him.
Unless someone asked him for money to divulge their approach, he is wasting his time ranting here. Huddy would have to be stupid to pay someone for the golden egg of trading success. And Kin lazy if he thinks someone is actually going to give him the secret !! of profitable trading.
yes Huddy - you will have to make the effort and build your own trading approach and test it in real time. You are wasting your time waving your stick around here when you should be perfecting your trading. Come back and tell us when you are successful. Then you can answer the next Huddy like cynic.
I will not see any reply by Huddy because I have deleted the thread notification so let me end by saying -good luck with your quest for profitable trading Huddy.
every Saint has a past. Every Sinner has a Future
  • #408
  • Oct 9, 2019 11:09am Oct 9, 2019 11:09am
If you dig enough you will most likely find out that behind chronos there is a person or a group of persons selling forex education or an EA. I didn't find any ridiculus profit claims at first sight. They most likely do not make money with trading, the make it with selling education, EA's or via affiliate marketing activities for brokers.

It seems the system they use is from a guy named "Clay Ferrell" and it is 3 exponential Moving average system. Whether he really exists in the real world is an other question....

I really couldn't find any kind of information that what they do is profitable.
No stats, no backtesting, nothing..... the claim to have a big discretionary element in it.... so no mechanical backtesting possible.
However, this also means you can show whether this method is profitable or not, which is good for them. If it doesn't work for you, they just claim that you don't master the discretionary element of the system....
  • #409
  • Oct 9, 2019 11:27am Oct 9, 2019 11:27am
Quoting turnip15
{quote} Huddy would have to be stupid to pay someone for the golden egg of trading success. .
This part alone shows you are completly lost in dream land.

If I combine that with how much of your precious life you have already wasted with forex...... poor you.
Most likely you are a hopeless case.... too much damaged already.
  • #410
  • Oct 9, 2019 12:32pm Oct 9, 2019 12:32pm
Somebody wanted to pay off his mortgage with Chronos..... did he make it?

Quoting Eur Usd
{quote} 7 years all together and am still bad at it. I trade either demo or small money
7 years wasted chasing the epic lie of profitable retail forex trading.

Understand why you havn't make it yet and then take the decision to stop and dedicate your time to better things than non productive speculation.
You are feeding your enemies while they are cheering you losing your hard earned money.
  • #411
  • Oct 9, 2019 12:51pm Oct 9, 2019 12:51pm
Quoting HudithePfupf
I didn't find any ridiculus profit claims at first sight.
"3-9% days almost everyday"... in the first post.
  • #412
  • Oct 9, 2019 1:59pm Oct 9, 2019 1:59pm
Quoting HudithePfupf
I doubt that you are net positive since your beginning - not with retail forex trading.
This quote sums it up quite good. Hudi got his opinion and is totally immune to any facts provided. I have posted accounts with already more money withdrawn than ever stored plus more than 2-3 years of history here as well. Simple FACTS! It is not about risks or guaranteed future gains .. just about the FACT that it is possible.

But in Hudis world nothing could be what Hudi is not convinced of. Simple selective perception and a truly questionable trait. Most likely because of his own failure. But I do not really care about his motivation. But I do care if he is accusing me of beeing a paid forex industry member out of his opinion(!) alone ..no proofs, no evidence. In the country where I am living this is called defamation and you could get to court for that. Luckily Twee is reasonable enough to not blindly follow Hudis accusations.
  • #413
  • Oct 9, 2019 10:47pm Oct 9, 2019 10:47pm
Quoting HudithePfupf
https://blog.usejournal.com/things-y...g-a97bbc8d19fa This is a good and realistic summary of the topic trading for a living. Retail forex (or other forms of speculative trading) is a negative sum game for losers.
Options trading is not. Just saying.....
  • #414
  • Oct 10, 2019 2:24am Oct 10, 2019 2:24am
Quoting moneymaker2
{quote} Options trading is not. Just saying.....
Yes, in some way.

Quoting Viktory
Contrary to Forex, I know some real consistent profitable Stock Options traders, using mainly either Interactive Brokers or TD Ameritrade. But with accounts bigger than $100K USD, it's not sustainable for the long run to pursue more than 30-60% returns per year on the whole account.

"Steady Options" is a great audited example of more or less how much you could make with medium-high risk in sub<100K accounts, mainly because of liquidity issues; and for something realistically achievable with bigger accounts, check their "Anchor Trades" performance....
  • #415
  • Oct 15, 2019 5:10am Oct 15, 2019 5:10am
Quoting Drolph
{quote} ..... Luckily Twee is reasonable enough to not blindly follow Hudis accusations.
It's already clear that you are linked to an EA.... and likely to a shady EA selling site too. I would currently estimate that you are a shovel seller with a probability of >90%. I doubt that you fullfill all regulatory requirements especially if you are active in the EU or the US. The first regulator is closing in on guys like you and more will follow soon....

One day you realize that you have a permanent record.
  • #416
  • Oct 15, 2019 5:15am Oct 15, 2019 5:15am
Quoting Viktory
{quote} "3-9% days almost everyday"... in the first post.
I like the "almost"........ says it all. Fraud & Scam, ending with a Boom.
  • #417
  • Oct 17, 2019 1:37am Oct 17, 2019 1:37am
Imagine putting all this work into saying that something is a lost cause. These forums are fun every once in a while.

It's a casino if you treat it as such.
It's a business if you treat it as such.

Both have risk attached to it, but only one has a more grounded and responsible approach. There are no guarantees, as with anything in life.

That's all you can really say about this topic and anything else is an embellishment of your point of view.
  • #418
  • Oct 17, 2019 5:24am Oct 17, 2019 5:24am
1. It is far worse than a casino, because no gambling addiction regulation and a lot of fraudulent claims by snake oil sellers like you.
2. It is certainly not a business for a retail forex trader - this is a pure lie and I expained that in great detail.
3. Just another unsuccessful damage control attempt by an other snake oiler...

You list no facts just opinion - and your opinion is obviously false.
Retail forex is a negative sum game for losers.
  • #419
  • Oct 17, 2019 11:56am Oct 17, 2019 11:56am
Quoting HudithePfupf
1. It is far worse than a casino, because no gambling addiction regulation and a lot of fraudulent claims by snake oil sellers like you. 2. It is certainly not a business for a retail forex trader - this is a pure lie and I expained that in great detail. 3. Just another unsuccessful damage control attempt by an other snake oiler... You list no facts just opinion - and your opinion is obviously false. Retail forex is a negative sum game for losers.
You get free drinks at a casino aswell.
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  • #420
  • Oct 17, 2019 3:43pm Oct 17, 2019 3:43pm
Quoting HudithePfupf
{quote} This part alone shows you are completly lost in dream land. If I combine that with how much of your precious life you have already wasted with forex...... poor you. Most likely you are a hopeless case.... too much damaged already.
My uncle traded forex (before he passed away) I know first hand, he made a lot of money. Sadly, I never capitalized on learning from him, and coincidentally got into this shortly after he passed away.... It's do able, but people don't have the following:

self-reflection
self-control
self-discipline
patience

These qualities in my mind's eye are what provide the elements for a great day trader.

If you like it do it, and if you make money off it great. If you don't, only bet what you can afford to lose. There is an element of chance, like anything in life.
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