It's impossible to lose money in Forex!!! | Forex Factory

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It's impossible to lose money in Forex!!!

  • #1
  • First Post: Apr 16, 2008 9:50pm Apr 16, 2008 9:50pm
The only way to lose money in forex is by trying to predict a trend. This is not 100% certain. Common sense on the other hand can ensure that you never lose!

Who agrees and who disagrees?

Cheers

Henry
  • #2
  • Apr 16, 2008 9:52pm Apr 16, 2008 9:52pm
Quoting HenryM
The only way to lose money in forex is by trying to predict a trend. This is not 100% certain. Common sense on the other hand can ensure that you never lose!

Who agrees and who disagrees?

Cheers

Henry
Have no idea what you are talking about?????
History is written by the victors.
  • #3
  • Apr 16, 2008 10:01pm Apr 16, 2008 10:01pm
It's simple. I don't use charts and have only lost 4 trades in 165 and the only reason for the losses is that I did not know how MT4 worked when I started the demo. Total profit is now on $2547 in 4 days - even more if you take out the losses.

I trade by using common sense only. It's still early days, but it looks good to me.
  • #4
  • Apr 16, 2008 10:04pm Apr 16, 2008 10:04pm
you don't use charts but you had trouble with your charting software??? Uhhh What??

Show us the system.
  • #5
  • Apr 16, 2008 10:04pm Apr 16, 2008 10:04pm
oh dear....another one of those it's so simple, i can beat the market threads...
  • #6
  • Apr 16, 2008 10:07pm Apr 16, 2008 10:07pm
Quoting magnumfreak
you don't use charts but you had trouble with your charting software??? Uhhh What??

Show us the system.
Sorry, I meant that I don't use technical analysis. Like MA MACD momentum etc.
  • #7
  • Apr 16, 2008 10:07pm Apr 16, 2008 10:07pm
Quoting HenryM
It's simple. I don't use charts and have only lost 4 trades in 165 and the only reason for the losses is that I did not know how MT4 worked when I started the demo. Total profit is now on $2547 in 4 days - even more if you take out the losses.

I trade by using common sense only. It's still early days, but it looks good to me.
My profit is always more if I take out the losses also . . . funny how that works.
Greetings from Guanajuato, Mexico
  • #8
  • Apr 16, 2008 10:09pm Apr 16, 2008 10:09pm
Quoting tenantro
oh dear....another one of those it's so simple, i can beat the market threads...
Who is more successful, the line fisherman who casts out a single line from the surf or the commercial trawlers who casts out their nets?
  • #9
  • Apr 16, 2008 10:12pm Apr 16, 2008 10:12pm
why not post exactly what you are doing? Maybe others can benefit from it also.
  • #10
  • Apr 16, 2008 10:14pm Apr 16, 2008 10:14pm
wow in 4 days u can beat the market!!! Thats amazing dude.. Oh wait.. Let me read it once again.. Ow.. DEMO
struggle in life is never ending
  • #11
  • Apr 16, 2008 10:14pm Apr 16, 2008 10:14pm
Quoting HenryM
It's simple. I don't use charts and have only lost 4 trades in 165 and the only reason for the losses is that I did not know how MT4 worked when I started the demo. Total profit is now on $2547 in 4 days - even more if you take out the losses.

I trade by using common sense only. It's still early days, but it looks good to me.
Hmm, you use common sense, have you read Jacko's thread? Don't be shy and show us exactly what you use to trade price action (Fibs, TL's, Patterns, etc.)?...

http://www.forexfactory.com/showthre...23#post1425723
  • #12
  • Apr 16, 2008 10:26pm Apr 16, 2008 10:26pm
Quoting deviance
wow in 4 days u can beat the market!!! Thats amazing dude.. Oh wait.. Let me read it once again.. Ow.. DEMO
I might still swallow my words, but let's see what the position is a month from now. I want to go live soon.
  • #13
  • Edited 11:00pm Apr 16, 2008 10:37pm | Edited 11:00pm
Let's hope you're not one of those new traders (if you're new that is, sounds like it to me anyways) that after starting off their first month or two of DEMO trading and made like 500% increase, they think they are Forex God and can't lose, went live after those few months of DEMO trading, then lose all their money the following month. I've seen that happen WAY too many times... Forex is not a get rich fast system, with many who's learned that the hard way. It takes time and lots of hard work for at least the first year to really start getting decent at trading (unless it's one of those people who never want to learn how to trade, but only know how to ask others where to enter and exit and ask to be babysit the entire time). But I suppose if you figured something out that works great, then congrats, good for you, and I hope you the best.
  • #14
  • Apr 16, 2008 11:14pm Apr 16, 2008 11:14pm
Quoting Nobitacu
Let's hope you're not one of those new traders (if you're new that is, sounds like it to me anyways) that after starting off their first month or two of DEMO trading and made like 500% increase, they think they are Forex God and can't lose, went live after those few months of DEMO trading, then lose all their money the following month. I've seen that happen WAY too many times... Forex is not a get rich fast system, with many who's learned that the hard way. It takes time and lots of hard work for at least the first year to really start getting decent at trading (unless it's one of those people who never want to learn how to trade, but only know how to ask others where to enter and exit and ask to be babysit the entire time). But I suppose if you figured something out that works great, then congrats, good for you, and I hope you the best.
i'm with you on that...
i don't mean any disrespect to you HenryM is just that there is so many people trying just to make a decent out of this market and here you talk like you know everything.... i know that sooner or later the market will teach you to be humble but when the market do teach you and the way it teach you is painful... regarding a DEMO and LIVE is totally different.. sorry if my way of saying it a bit harsh... but it's better than you blown you're own account.... probably you got what it takes to learn the market faster than anyone and i wish you the best....
struggle in life is never ending
  • #15
  • Apr 16, 2008 11:21pm Apr 16, 2008 11:21pm
I sometimes wonder where all the money come from which goes into my pocket. So thank you Henry, looking forward to your live account.

Regards - Xaron
  • #16
  • Apr 17, 2008 12:07am Apr 17, 2008 12:07am
lol
Trade what you see, not what you think.
  • #17
  • Apr 17, 2008 12:18am Apr 17, 2008 12:18am
Quoting Xaron
I sometimes wonder where all the money come from which goes into my pocket. So thank you Henry, looking forward to your live account.

Regards - Xaron
Xaron, didn't Vince V said if you start real small enough, it doesn't matter where you buy or sell ?

then just average in when in drawdown.............of course, his immaculate knowledge of elliott waves will help him get out of profit time and again.

BTW, how's the FXManager contest going ? has Vince finally showed he's the real deal and not some scamster that HappyTrader and gang have been saying ?

i believe he's a great trader but rather unsure about his experience as a manager but then what do i know ?
  • #18
  • Apr 17, 2008 2:43am Apr 17, 2008 2:43am
Quoting yen44x
My profit is always more if I take out the losses also . . . funny how that works.
HAhA Made my day. Thanks.

165 Trades in 4 days. You're a busy man. lol
  • #19
  • Apr 17, 2008 3:04am Apr 17, 2008 3:04am
it is definitely impossible to lose money in Forex...... when you are trading demo.
  • #20
  • Apr 17, 2008 3:07am Apr 17, 2008 3:07am
I want to post the graph of the progress, but this internet connection is quite bad. It can cost one a lot when real money is involved and the connection dies on you. Ahh the pleasures of living in Africa

Even getting this short message posted is a battle at this time. "The tower is offline sir, but our technicians are working on it. You should be online again in 30 minutes."

That was 2 hours ago.

Cheers

Henry
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