People still trade forex? | Forex Factory

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People still trade forex?

  • #1
  • First Post: Feb 19, 2022 3:09pm Feb 19, 2022 3:09pm
Can't believe the forex hype hasn't worn off by now. You realize forex is probably the most difficult market to trade right? It's so huge and efficient thus making any sort of TA useless.

And you can't make any decent money without leverage unless you're a whale.

So why continue?
  • #2
  • Feb 19, 2022 3:46pm Feb 19, 2022 3:46pm
Quoting AVLtrader
Can't believe the forex hype hasn't worn off by now. You realize forex is probably the most difficult market to trade right? It's so huge and efficient thus making any sort of TA useless. And you can't make any decent money without leverage unless you're a whale. So why continue?
FIRST off your mindset is way off. but you probably like that in everyday life.so wont judge you on that.

But Yes it is the biggest market, therefore the most liquid, therefor the more predictable, because of market sentiment.

MANY of us are consistently profitable in forex. and by many i mean of course the top 10% of traders. but thats what separates us.

Even when i was a begginer i never talked like you and that why im still here 8 years later. heck i was hard headed for 2 years and wanted to make the market do what i wanted. But once i got over MYSELF i was off to success.

You see it was never the market that is difficult, it is the trader being difficult
  • #3
  • Feb 20, 2022 2:23am Feb 20, 2022 2:23am
Quoting Treptrader
{quote} FIRST off your mindset is way off. but you probably like that in everyday life.so wont judge you on that. But Yes it is the biggest market, therefore the most liquid, therefor the more predictable, because of market sentiment. MANY of us are consistently profitable in forex. and by many i mean of course the top 10% of traders. but thats what separates us. Even when i was a begginer i never talked like you and that why im still here 8 years later. heck i was hard headed for 2 years and wanted to make the market do what i wanted. But once...
Liquid does not mean predictable. Efficient markets are NOT predictable. And you are not trading real liquidity - you are trading against the broker
  • #4
  • Feb 20, 2022 4:26am Feb 20, 2022 4:26am
Quoting AVLtrader
{quote} Liquid does not mean predictable. Efficient markets are NOT predictable. And you are not trading real liquidity - you are trading against the broker
ur right predictable isnt the right word. what i mean is the more liquid and asset is the more the fair value is able to be estimated over time. its not going to have volatility that u cant see coming. the market is all probability and math. so regardless if im tradng against the broker as a retail trader there are ways to beat the market makers out of emptying ur account thru reckless guessing games. mechanical or formla based strategies work. it is proven the the emotions and psycology of the individual trader is the make or break factor. hence why i mention ur mindset. give me ant shitty strategy and i can make it profitable. the TA doesnt matter fundementally. any ways im not trying to convince you but rather prevent u from discouraging ur self and others from trading. i hope u dont permenantly give up
  • #5
  • Feb 20, 2022 8:33am Feb 20, 2022 8:33am
Quoting AVLtrader
Can't believe the forex hype hasn't worn off by now. You realize forex is probably the most difficult market to trade right? It's so huge and efficient thus making any sort of TA useless. And you can't make any decent money without leverage unless you're a whale. So why continue?

Why continue? Well, I am afraid that the answer is similar to those that will answer you for why he attend casinoes. The problem that this market is depending on probability make it similar to gambling. Especially when we add the human greed to the picture.

When I the first time heard about something called Forex and brokers I thought that this is a work where I have to learn something difficult that have to deal with the investments and administration of money, and that I will offer a kind of service in return for profit I will make.
After four years I have learned the hard reality of this. This market is all about probability, and that you are here to beat other so their money will be in your pocket instead of their own. And you have to make your own strategy, and no one is supposed to tell you his strategy. Else he will loos. And if all traded the same methods, no one will make profit.
And most of these that call them self experienced traders make profit out of logistic forex interactions, and not out of the trading itself. You see, tons of youtube channels and blogs out there waiting for you new-beginners to joine in so they can make profit out of the ads. Ok, this is fun or maybe sad. Because all the content provided there is not telling you so much. Just giving you a general idea about what this is. But the owners of these channels and blogs do not tell. They want you to keep hanging on so the ads can give them the profit they are seeking. So if the Forex really a very profitable market, why they do not just depend on it and make milions and milions? Because the hard reality is that this is only probability. No more.

Some will make money of course, but not the most of the traders. In fact only 5-10% of these. So if something that only 5-10% can succeed in it, then the fault is not with the 90% that fale, but in itself. So it is with the Forex the fault. So this truth have to be understood by people so only those 5-10% that will joine in, not all these 90% that will fale and loos their money to those "5-10%".
So this market is for really advanced financial graduaded people, and for those that will just use it like a hobby like me. I will stay for a while in the hope of finding a temporarily method to make money out of it.
  • #6
  • Feb 20, 2022 8:41am Feb 20, 2022 8:41am
Quoting Treptrader
{quote} FIRST off your mindset is way off. but you probably like that in everyday life.so wont judge you on that. But Yes it is the biggest market, therefore the most liquid, therefor the more predictable, because of market sentiment. MANY of us are consistently profitable in forex. and by many i mean of course the top 10% of traders. but thats what separates us. Even when i was a begginer i never talked like you and that why im still here 8 years later. heck i was hard headed for 2 years and wanted to make the market do what i wanted. But once...

Only the top10 traders? Is this market here just for those top10? Ok, dont you think if something 90% fail in it, then the fault is not with those 90%?

I understand your point. You will say that this a real and genune market, and not just scam and fraud like what those failing traders are saying. And you are right. This is real, but it is very hard, that this is not for all like brokers and many blogs and Youtube channels are trying to say. In fact it is for a very small group that really can advance in it. This have to be clear and need to be really pointed out of Forex providers if we will not blaim them for running a legalised gambling system.
  • #7
  • Feb 20, 2022 9:05am Feb 20, 2022 9:05am
it is possible to earn money. (YAAAAAAAAAAA)
I write ????
most people lose because they have no idea what they are trading.
Wrong time
wrong currency
blind and stupid
a question for all !!!
when do you buy or when do you sell??????
  • #8
  • Feb 20, 2022 12:52pm Feb 20, 2022 12:52pm
Quoting kette
when do you buy or when do you sell??????
Have you not heard?
"You buy at the bottom and you sell at the top."
Risk Management is of utmost importance!
  • #9
  • Edited Feb 21, 2022 4:44am Feb 20, 2022 11:39pm | Edited Feb 21, 2022 4:44am
Quoting RCtrader
{quote} Have you not heard? "You buy at the bottom and you sell at the top."
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  • #10
  • Feb 21, 2022 12:47am Feb 21, 2022 12:47am
Quoting AVLtrader
Can't believe the forex hype hasn't worn off by now. You realize forex is probably the most difficult market to trade right? It's so huge and efficient thus making any sort of TA useless. And you can't make any decent money without leverage unless you're a whale. So why continue?
We do! Forex is way more difficult than other markets such as stocks and crypto, but that's why it's fun. Hard things get easier in time!
You have to have an IQ higher than 90 to interact with this user.
  • #11
  • Feb 21, 2022 1:38am Feb 21, 2022 1:38am
Quoting aalaarajy
{quote} Only the top10 traders? Is this market here just for those top10? Ok, dont you think if something 90% fail in it, then the fault is not with those 90%? I understand your point. You will say that this a real and genune market, and not just scam and fraud like what those failing traders are saying. And you are right. This is real, but it is very hard, that this is not for all like brokers and many blogs and Youtube channels are trying to say. In fact it is for a very small group that really can advance in it. This have to be clear and need...
But why point fingers at the broker or the casino for that matter? oint the finger at the greedy human look for a short cut to money. thats why to 90% is fair but those 90% Are indeed at fault for failure. to be a dsiciplined person takes work that most are too lazy to do. quite simple. but the goal is to star in the 90# and iprove your self to top threshold that actually end the month at break even or better
  • #12
  • Feb 23, 2022 12:05am Feb 23, 2022 12:05am
Quoting AVLtrader
Can't believe the forex hype hasn't worn off by now. You realize forex is probably the most difficult market to trade right? It's so huge and efficient thus making any sort of TA useless. And you can't make any decent money without leverage unless you're a whale. So why continue?
The Law of large averages actually improve the ability to trade successfully in the forex market. Better than stocks. Especcially using TA. TBH I'm brand new to the forex market and it's freaking easy compared to the stock market. Find the big trend, jump in, let it ride. The only thing I find frustrating is the volatility at my entry, but once I can get into profit, which after a little trial and error isn't that difficult, I just let it ride and check back the next day. So far turned $100 into $400 and I started trading forex feb 7th. However, today I fight with myself. I went far too big and chose not to cut my losses fast enough so I'm in a trade that may very well bring me back down to $100. We shall see. lol This is the psychological battle that keeps me from growing my account quicker than I am. I have however been trading stocks and options for years so this may be why forex comes so naturally. It's just a bigger more simple system that requires just a little extra wiggle room on your stop.
  • #13
  • Feb 23, 2022 8:15am Feb 23, 2022 8:15am
Quoting AVLtrader
Can't believe the forex hype hasn't worn off by now. You realize forex is probably the most difficult market to trade right? It's so huge and efficient thus making any sort of TA useless. And you can't make any decent money without leverage unless you're a whale. So why continue?
Yeah, the Forex market is till now volatile & the traders are trying to make money according to their own skill! On the other hand, I didn’t get your point on leverage part! What’s wrong on taking leverage?
  • #14
  • Feb 25, 2022 10:58am Feb 25, 2022 10:58am
Quoting christianleo
{quote} Yeah, the Forex market is till now volatile & the traders are trying to make money according to their own skill! On the other hand, I didn’t get your point on leverage part! What’s wrong on taking leverage?

I treat having leverage in a way that even if they give me 1:1000 I'll still only risk 1-2% per trade and set a max daily loss and total account loss limit .

so with leverage usage it goes like this:

Just because you can, doesn't mean you should....and there are CFD indices like nas100 and russell2000 that are way more volatile and trendy. makes currency pairs look flat
  • #15
  • Feb 25, 2022 5:35pm Feb 25, 2022 5:35pm
Quoting christianleo
{quote} Yeah, the Forex market is till now volatile & the traders are trying to make money according to their own skill! On the other hand, I didn’t get your point on leverage part! What’s wrong on taking leverage?
Leverage is how you get wrecked (and you will)
  • #16
  • Feb 25, 2022 5:38pm Feb 25, 2022 5:38pm
Quoting hazelj80
{quote} I treat having leverage in a way that even if they give me 1:1000 I'll still only risk 1-2% per trade and set a max daily loss and total account loss limit . so with leverage usage it goes like this: Just because you can, doesn't mean you should....and there are CFD indices like nas100 and russell2000 that are way more volatile and trendy. makes currency pairs look flat
Currencies are flat...they move like 1% a month (hence the need for leverage)
  • #17
  • Feb 26, 2022 10:26am Feb 26, 2022 10:26am
Quoting AVLtrader
{quote} Currencies are flat...they move like 1% a month (hence the need for leverage)

Exactly look at this list. These are 4 week (21 day) Atrs

Not one currency pair makes into the top 10 percentage wise
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  • #18
  • Jun 25, 2022 12:02pm Jun 25, 2022 12:02pm
First of all, because you can earn good money here. There is no doubt that it is possible to earn considerable money in the Forex market. This is not some myth, but the very real truth. Some people compare forex to a casino, but I would say this is the view of an amateur, who does not really understand anything in this direction. It should be noted that one should not expect instant results in this area, they simply will not happen.
Also, it is worth to put out of your mind the idea that you can start with 100 dollars, and a year later become a millionaire. No, in theory there is such a possibility, but it is negligible. If you suddenly decide to link yourself with this sphere and want to achieve some success, you will have to make significant efforts. For trading is a rather difficult way that will thoroughly test your strength. However, it's up to you to decide...
  • #19
  • Jun 25, 2022 1:23pm Jun 25, 2022 1:23pm
Quoting AVLtrader
{quote} .....not trading real liquidity - you are trading against the broker
This is true and this is good. You need to realize, accept it, move beyond it by using it as an advantage.

People don't realize this or are afraid to believe it. The part about unpredictability is a bit off.
THESE PEOPLE WITH COLORED BADGES ARE NOT PROFESSIONAL TRADERS
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