Trading forex profitable is impossible!

emotions and greed is the foremost enemy in Forex trading , we always influenced by this common human nature , for that reason no way to avoid , but by means of trading discipline greed and emotions can be controlled.

Very true. All explanation of how to build a "stable/good" EA is true. But one thing... you need a lot of such EAs... with different statistics used. Never rely on 1 EA. Must be N. Diversify. Ideally, you have N packages (accounts) with Z EAs. Various symbols. various entry/exit strategies, risk/reward, trendy/ranged etc setups.

Regarding minimum 1000 deals for statistics. Yes that could sound good... but... in what time period? If 1 year then 100% any that system will fail. If 20 years - then yes it might work in the longterm (some years still in drawdown). The most stable setups I see are when no more than 10-20 trades per year. The idea behind that is... the more you trade (overtrade) - the more mistakes you make - this is relevant to EAs too. Do not overtrade. If you have 20 different EAs setups each with 10-20 trades per year (optimized/backtested/forward tested) then there is a good probability that the whole system of 20 EAs will be profitable. Waren Buffet has 2-3 trades per year...

And here becomes the question... how long history you should consider? 10 years? 20 years? Technologies advances... Twitter news move markets. Now markets are different than 20 years ago - algos dominate. Think 10 years is the maximum which should be used for statistics..Or might be optimized several packages: 3 years, 5 years and 10 years history best setups (with good forwardtest scores).

Excellent post!

It is possible to trade profitably after a certain experience with trading skill-set, its all about a right mindset.

The statement "Trading forex profitably is impossible" is not entirely true, but it is also not entirely false. Forex trading is a high-risk, complicated activity that necessitates knowledge, skill, and discipline. Many traders fail to generate consistent profits and thus lose money. Some traders, however, make consistent profits and even make a living trading forex.
A solid trading strategy, proper risk management, and continuous learning and improvement are the keys to profitable forex trading. Forex traders must also be emotionally prepared and disciplined, as emotions such as fear and greed can lead to irrational trading decisions.

While profitable forex trading is difficult, it is possible with the right mindset, approach, and dedication.

It’s impossible for those who give up early. Unfortunately, a great number of people give up and get back to their jobs. Trading requires a bit more time than you expect. For some people it would be enough several years. Others need ten years to grow professionally in this field.

This exact statement is my trading origin story. When I was 10 years old my dad sat me down at the dinner table and told me that I should always invest in index funds, because nobody has ever beaten the market over any large period of time. All price action is random, nobody makes money trading. He also especially told me to never become a daytrader. I always believed it for years until I started looking at markets myself during covid. It took a lot to convince me, but I don't believe that price is 100% random anymore, nor do I believe that it's impossible to make very good returns from actively trading.

I do 100% agree that most people lose, most online education is very bad and a lot of it is a straight up scam, and everyone who says they make 40% every month and so on are lying or getting lucky. But I believe a decent % gain per month consistently is possible with a solid strategy, executed well. And I believe that a decent % per month will compound into very large amounts over the years.

One can always focus on one position which is either up or down and focus solely on entries related to it. You can make money that way.

I think the decent profits that can be true, although I've been a fulltime tader just about 2 years

Hi WannabeLedge,

I dare to argue against that. I know it is possible to get outsized returns out of trading FX, indices, etc. because I have seen people do it. Consistently over +15 years.
No, not me, I'm only at the beginning of my journey.

People who do it have to have a very high risk tolerance though. You will not make it by risking 0.05% per trade. For outsized returns you will also have higher risk and need to have the right state of mind to keep to your system through the inevitable drawdowns.

It's not for everyone, very true. But that doesn't mean it doesn't exist. Most people will never be a good racing driver, but 1% of the people in the world are...

Best of luck to you all!