Successful traders are very, very rare to find

Forex trade is very reliable business and if trader is having proper trading skills and knowledge then Forex become the good and consistent source of income for them and it can also the change the living standard.

Forex market is top of market. It requires financial, economic knowledge, skills, emotional control and risk management measures. To be survive in the market, everyone need to be paid for oneself lessons to success!

Forex market is a top of markets. It requires financial, economic knowledge, skills, emotional control and risk management measures. To be survive in the market, everyone need to be paid for oneself lessons to success!

In long term, around 4% survive in forex trading and make money, 4% of that 4% make average money, 4% of that 4% average money make huge money.

Where did you get that stat? And how does it match/fit with this news?

Hi! This was a statement by Will Vu, a trader and writer of some recognition on the internet. As for the statistics in that article, it's only relevant for one quarter of the the year. My point was "In the long run..".

Mark Twain noted that there were "lies, damned lies, and statistics".

You may find yourself asking questions about the Covid statistics thrown around, for example. I do, as do others.

What type of traders, anyway - I totally understand if they are scalpers.

Like... what covid statistics?

You've said it all my friend... I absolutely agree with you on this.

This may not the appropriate forum to discover that there are a variety of statistics being employed to describe quite a few characteristics of the covid pandemic.

People said that it is impossible to predict:

1. HORSE RACING, yet... 1 man profited 1 billion from it, by developing THE MODEL:
   Inserted Video
2. BASEBALL, yet, https://en.wikipedia.org/wiki/Billy_Beane has applied statistical analysis (known as sabermetrics) to baseball. Movie based on it: https://www.imdb.com/title/tt1210166/

Can it happen in TRADING? Most definitely (it was done before, it will be done again, and again)... So there you have it.. It is possible, the rest is up to you. Can you do it by quitting a job or dropping out of college, join the forum, follow some guru, apply golden "rules" like R:R 1:1+ and support/resistance and talking (and learning bulls=up, bears=down) bulls/bears all day, and earn 1million in 5minutes? Very unlikely... It is one of the hardest profession there is, at least "real" trading wise (predicting the future) and/or making good risk management/assessment (and no, applying R:R 1:1+ is not "it", as some divine constant as some think - since markets need room to move "sometimes")... Unless one exploit/cheat with technology (arbitrage etc...) but this is not what we are talking about right.. So it is hardest thing to WON, if we are really talking about ZERO to HERO.. but if you do get there... it is all worthwhile and you will inspire millions... Same as in other industries like MOVIE, MUSIC, BUSINESS etc...

There are at least some people right now that are basically "printing MONEY" from markets... it usually comes down to "one inch formula"... (but to get there you might need library of books or just incredible/divine luck/power) and they are keeping their mouth shut. Why? Because as soon as they leak it, it will be over VERY soon... if/when too many people copy it... brokers gets the warning and checks EVERY trade manually... and even reverse it (if you cheated with technology which might be in their BIG NO NO clause(s)... but even if you do by the books, they can just limit their exposure or they join the ride and other players do the same etc etc.. And no, it is not about some conspiracy, it is just what it is... Market adapts to "one inch formulas" as soon as they get to know about them... Some print it slowly, under the radar... see the Enigma (2019) movie https://www.imdb.com/title/tt5266470/ about how/why to stay within the stat anomaly... But others would like to deposit 100EUR and get 100k OUT in a week... and think no one will notice...You can do that, but you better be all legit or your profits will be reversed... It is also good to diverse the brokers, accounts etc etc...

I have seen people found "the formula" that worked some of the time, some correlation, some tech advantage, some pattern... but they made at least 3 mistakes...

1. they though it would last forever and they adapted their "eternal" lifestyle to it, meaning lifting FIX costs substantially.. and maybe take some substantial loan/mortgage on top of it... for a nice car also...
2. they wanted to do it too quickly, with pocket change to millions... (while it was obvious tech exploit), without even bother to mask/hide the trades (in between other trades)... there were just trades like 10k->20k (in one trade) in their history, and then they tried to put 1mio+ INto it and expected 1mio profit per trade and that broker won't bother to check what the hell happened in MINUTES...
3. they BRAGGED... "showed people how it was done" but not so much to teach them but to show their big brains or "insert here"...

And it was over.. And they might come out even worse because of raised FIX costs (highlife lifestyle, before they got to "money making money" level aka "passive income"), LOANS and a TASTE of SWEET quick money in their mouth... Rarely can one forget about it, move on, go to job etc... Others are waiting for the next 50 years, for another "once in a lifetime" opportunity, that might never come again...

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And another part of the game... Even if some traders got it right or found their guru/signals... they add additional obstacles to it:

1. they want to like the person that provided profitable signals
2. they want to agree as much with him at others things beside trading
3. they want their signals to be in sync with their (biased) views
4. ...

Also they would have to be:

1. emotional stable
2. disciplined
3. "worthy"... some struggle with unworthiness so much that they somehow always manage to put even the most golden signals into a loss
4. have at least some basic RR
5. not to "greedy".. meaning not overtrading... some did find good signal provider.. but while they wait for another signals, they overtrade (profits) while they wait...
6. ...

So you see, even if some found "one inch formula" or signal provider... there is still a long road to make and KEEP it PROFITABLE... One of the best things one can do is...

1. to MILK it while it lasts
2. not to disclose "the pure juice" it to soon (one more is enough), you can still share a lot of tools though
3. keep FIX costs LOW because in any market FX/metals, energies etc.. profits are VAR.. it is their nature...
4. DETACH from emotions
5. be TERMINATOR style... Just do LOOP question for every decision/action: "Will this bring me more profits or not?" . The rest (ego/emotions) is just noise in/WHILE trading..

This is it.. If I learned anything anyway... Want proof? Check the threads how many times people start to measure their... instead of focusing on making MONEY, together! Because this is what it is all about... This is what being (like a) PRO is all about. That is why some "WS" people seem so "weird" because they are so money focused, before anything, anything! But maybe that is what it takes, while you are in this racket anyway.

And also, have seen traders ignore/ban certain traders that bring good/profitable info/signals/ideas but they did not like the guy/girl or agree with him/her, sometimes even in things outside of trading so they prefer to be without money than to accept someone (that they might not like) got it right... Which is instant disqualification almost.. because markets are hard as they are without the luxury of bringing EGO and/or EMOTIONS into the equation... Right? Oh and also, if someone does not fit with what some guru/daddy said about the market (irrelevant if it was profitable or not) some traders get MAD that someone dared not to agree with their guru... So as you see... OFTEN profitable trading comes SECOND most important, at best! Unfortunately even profitable trades/signals have to go through whole personality... unless someone learned to control or DETACH from it, for the profits sake... Thats all.

You do not agree? Fine, that makes the market.

Hi! I don't think he mentioned scalpers. Yeah, I feel the data related to covid is flawed perhaps due to the limitation of science in understanding a relatively new disease.

Whether economics or politics, it's all manipulation!!

Heh, I though you typed Weather Maybe because I started with Weather and than moved to markets since it seemed more profitable at the time (still do). Remember the superman 3 movie when there was a mainframe (super computer) that could control weather (via weather satellite), markets, you name it? Not many see the connections between weather (prediction) and markets (prediction/trading).. if there is one of course... To me, it is very similar... But I might be wrong however...

Reminds me also of the (often misinterpreted) legend of King Canute who demonstrated to his people that no man (or man, plural), however powerful, has control over the weather/tides/climate.

Dunno about any "supercomputer". Its a movie, yes?

I'll leave the similarities of the mathmatical processes/systems that may be similar in climate and markets to someone with a PhD in maths - but yes, there would be some, although I suspect markets might be rather more difficult.

Bear in mind that climate scientists have a dismal record at forecasting beyond a few days, possibly due to philosophical or political ideologies/agendas (that's me making an understatement). The near week is pretty good.

Yeah, it is a movie "Superman 3", very funny scene Also, smart leaving similarities to people that study it (PhDs...)...

Well you maybe found your similarities right there, right?

Also, weather forecasting has a lag due to computer modelling delay... it takes heavy computing that takes time, therefore... Also the more detailed the matrix, the harder/longer it takes... There is a great deal of material to be discussed here... Some strong PRIVATE firms dealing with their private weather forecasts and that gives them an advantage (I often compare certain predictions and they vary a lot - like more general from google vs local, with specialised/additional tools/parameters).. Also if you focus to certain area, you can model it far greater than (general) forecast... But once you get to certain data/model... it is all "standard" from there...

As the guy (Zachary Quinto: Peter Sullivan - a rocket scientist in the movie) said in Margin Call (2011) movie why he joined the finance...

1. Sarah Robertson : What's your background?
2. Peter Sullivan : My background?
3. Sarah Robertson : Your CV.
4. Peter Sullivan : I've been with the firm for two and a half years working with Eric that whole time, but I hold a doctorate in engineering, speciality in propulsion, from MIT, with a Bachelor's from Penn.
5. Jared Cohen : What is a 'specialty in propulsion,' exactly?
6. Peter Sullivan : My thesis was a study in the ways that friction ratios affect steering outcomes in aeronautical use under reduced gravity loads.
7. Jared Cohen : So, you're a rocket scientist.
8. Peter Sullivan : I was, yeah.
9. Jared Cohen : Interesting. How did you end up here?
10. Peter Sullivan : Well, it's all just numbers really. Just changing what you're adding up. And, to speak freely, the money here is considerably more attractive.

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I use the same core/kernel for weather, stocks, crypto, energy, metals... There are specifics, ballparks, "windows" and some "laws" or let's say, strong(er) correlation.. but once you model it, it is almost the same thing from there... or in your example maybe... once you get to numbers/math... it is just that, math, but yeah, you have to put the correct assumptions, boundary conditions right... hence you need the "industry insight".. but once this is done...

As soon as someone will demonstrate other markets, more profitable.. than fx, metals, energies, crypto.... I will do it there... will need some time to get familiar with the industry etc... but will then apply the familiar tools for it... and see how/if it works

I might be wrong however since I am yet to confirm (sci style) the correlation of "isolated" "critical" (1-3) parameter(s) to (selected) market(s)... But it is like this, I can tell you this much... After 11+ years of dealing/testing (with) it, in all possible market conditions, liquidity setups and "tons" of volume... it is either that it appeared to work extraordinary at times, but there was a strong disconnect at other times... but it might all be a crazy coincidence, very unusual but still possible... or it does have correlation to "that" and most traders don't know what they are talking about most of the time (apart of some "obvious" reactions to news, tweets or even some tech pattern (from time to time)... We will see soon, since after 11 years, I have finally isolated it enough and the same "setup" is forming.. and we will see now, almost precisely.. if it has correlation or not... If it doesn't, I better go do something else and preserve the profits... But if it does have correlation to isolated parameters (1-2 leading, whenever there isn't strong interference from banks, tweets etc... of course) then most traders can't possibly "see it" just by watching the chart alone (at least in the long-run, in short-term there are some (temp) patterns, sure), without checking the "big picture"...

I have "said" too much already and that is all that I will say, for now... Until "proof"... not the ultimate one, but like 3 - 5+ sigma, real one, would be quite sufficient

And no, I have no intention to argue on this with anyone (I would imagine some would get triggered/tilted to the max, if they would even suspect I might imply something that they might not like), specially/since I am still curious about the outcome myself. Atm still all outcomes (almost) are possible... But I am "afraid" it will be like... "either it DOES or it DOESN'T"...

P.S. I have "observed", specially in traders that have been in the game long enough, usually 10+ years... some traders come up with interesting findings, that I might completely agree on... What those are, is a matter for another subject... but have found that once you are in it long enough, you might see/suspect what it is all about, even though you can not pin point it... Or like "Eli" said... (Book of Eli - 20109: "li: It means that you know something even if you don't know something".
That is why I prefer to talk with traders that "know" what it is NOT at least... something that Rookies would have not get a clue even if you would write them in front of their faces with fonts 1000... Not because it is so hard to understand but it is so hard TO GET... you have to INTERNALISE it... Hard to explain... A lot of professions come down to certain rules/findings, but you have to be in it for 20+ years, to actually get it... You can just can not READ it and KNOW it... because you the truth has to be IMPRINTED in you through experience, it seems .

I have been very disappointed lately. I have not been on the forum for several years. I lost and I did not have good news. If anyone has successful traders who know them, please let me know. I really need them.

Which begs the question - what is the reason that you "lost"? Over what time period? How many trades? Everyone loses, including very successful traders. So you can follow them and still lose. It means nothing in itself.

Sometimes I won. Sometimes lost. But when I won more than 30 percent, my deals were manipulated. Even the most famous brokers made me slip. Once I saw how the most famous Swiss broker made me a sale instead of buying. They turned the order. Was buy became sell. a deal of plus 350.000,00 euros was minus 350.000,00 euros. My balance has been reset. It is my story

Guys please help me if you have an idea