It's impossible to lose money in Forex!!! | Page 2 | Forex Factory

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

  • #21
  • Apr 17, 2008 5:10am Apr 17, 2008 5:10am
Quoting magnumfreak
it is definitely impossible to lose money in Forex...... when you are trading demo.
Hahahahaha! True that, true that...

Quoting HenryM
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
You best get a solid line otherwise you'll be double toast in no time...
  • #22
  • Apr 17, 2008 5:17am Apr 17, 2008 5:17am
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.
you're history live. You will barely see any profit before cooking your account. You will have no idea how or why it happened. 4 days of winning on demo is nothing whatsoever. Be careful, strap yourself in, you are in for the ride of your life. Best of luck!
BTC Return This Year: na
  • #23
  • Apr 17, 2008 5:22am Apr 17, 2008 5:22am
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
Hello Henry. I know that it seems easy now on demo. You started with a large pile of fake money and you are making it grow by throwing MM to the wind and having patience to wait until the trade goes your way. The retail market for forex is growing by leaps and bounds with new traders like me and you. Before you go live, trade demo with the same dollars you would really start with. Learn PA and use good money management. Heed these words man, or you are gonna get your pocket picked mercilessly. Just my humble advice.
  • #24
  • Apr 17, 2008 6:48am Apr 17, 2008 6:48am
Quoting findcount
Xaron, didn't Vince V said if you start real small enough, it doesn't matter where you buy or sell ?
That's true. But who wants to trade with low leverage (like I do)? No newbie wants to.

Quote
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.

Yes this works if you go with the fundamentals, it's more investing than trading. But forget this Elliot BS.

Quote
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 don't know. It hasn't even started yet...

Quote
i believe he's a great trader but rather unsure about his experience as a manager but then what do i know ?

Good question. Just check out several FX Managers in their game accounts. Don't trust anyone not even me.

Regards - Xaron
  • #25
  • Apr 17, 2008 7:49am Apr 17, 2008 7:49am
Quoting Xaron
That's true. But who wants to trade with low leverage (like I do)? No newbie wants to.



Yes this works if you go with the fundamentals, it's more investing than trading. But forget this Elliot BS.



I don't know. It hasn't even started yet...



Good question. Just check out several FX Managers in their game accounts. Don't trust anyone not even me.

Regards - Xaron

of course i trust you, buddy ! i trust you more than i trust myself !
  • #26
  • Apr 17, 2008 8:02am Apr 17, 2008 8:02am
Are you listed in my managed game accounts?
  • #27
  • Apr 17, 2008 8:29am Apr 17, 2008 8:29am
Thats' OK Henry - there are plenty of Demo graphs of progress posted here on the site. We'll just refer to one of them if we need a graphical account of your progress.


Quoting HenryM
I want to post the graph of the progress, but this internet connection is quite bad.
In trading, there is no bullshit. You either make money or you don't.
  • #28
  • Apr 17, 2008 10:05am Apr 17, 2008 10:05am
Quoting KissFan
You are making it grow by throwing MM to the wind and having patience to wait until the trade goes your way. The retail market for forex is growing by leaps and bounds with new traders like me and you. Before you go live, trade demo with the same dollars you would really start with. Learn PA and use good money management. Heed these words man, or you are gonna get your pocket picked mercilessly. Just my humble advice.
Hi I agree that my money management stinks at this stage, but the point that I want to make is that it is possible to make big bucks without using all the technical indicators, because they are not 100% accurate. I must admit that I missed a few good rallies, because I trade in a very narrow band, but if we can refine this strategy ... cocktails on the Bahamas... here we come.
  • #29
  • Apr 17, 2008 10:19am Apr 17, 2008 10:19am
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.
Please define this "common sense" you talk about.
  • #30
  • Apr 17, 2008 10:28am Apr 17, 2008 10:28am
Quoting deviance
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 never even hinted at knowing anything. I am the least knowledgable when discussing technical analysis. I know the jargon, but that is it! I am trying to challenge our traditional thinking about the market, because the success ratio of the traditional way of doing things does not seem to work very well for most of us.
  • #31
  • Apr 17, 2008 10:28am Apr 17, 2008 10:28am
Henry:
Sounds as if your enthusiasm is pretty high right now. Uncontrolled/unbridled enthusiasm can get you into incredible trouble. You haven't got a clue as to what you are doing, yet your making positive trades on your demo acct... So easy your thinking- wait till I open a live acct your thinking...

If you last long enough, and I really hope you do; come back and read this thread in a year. If you don't kick your self in the ass for being a dumb sh*t - we'll then you'll probably be in the Bahamas .. LOL
In trading, there is no bullshit. You either make money or you don't.
  • #32
  • Apr 17, 2008 10:36am Apr 17, 2008 10:36am
Quoting mrgreen
Henry:
Sounds as if your enthusiasm is pretty high right now. Uncontrolled/unbridled enthusiasm can get you into incredible trouble. You haven't got a clue as to what you are doing, yet your making positive trades on your demo acct... So easy your thinking- wait till I open a live acct your thinking...

If you last long enough, and I really hope you do; come back and read this thread in a year. If you don't kick your self in the ass for being a dumb sh*t - we'll then you'll probably be in the Bahamas .. LOL
Yep I know that I am enthusiastic, but why not? I know that the principles that I use work, but my MM stinks, so maybe we can work on that.
  • #33
  • Apr 17, 2008 10:43am Apr 17, 2008 10:43am
Why not enlighten us as to your great strategy? Perhaps you have stumbled onto something, or maybe you have something that is close and someone here can help you refine it.
  • #34
  • Apr 17, 2008 10:51am Apr 17, 2008 10:51am
Quoting HenryM
Yep I know that I am enthusiastic, but why not? I know that the principles that I use work, but my MM stinks, so maybe we can work on that.
I'm starting to like you so I hope you do last awhile. Let me tell your future; as we all know it is only one possible future (See "Back to Future" series for reference)

Hold out your right hand palm up....

I see your first live trade - it is successfull... Yeah - you dance, then think - damn I knew my system was good - why the hell use that MM - its just gonna hold me back from my dreams.

2nd trade - not a bad loss - You think you know what went wrong - You just double up on this next trade cause it will be a winner...

Long sad story later - your gone never to be heard of again - and we'll all be wondering what happened to that awesome strategy Henry found.... of course we'll know.....
In trading, there is no bullshit. You either make money or you don't.
  • #35
  • Apr 17, 2008 10:57am Apr 17, 2008 10:57am
Henry

Hope you realize Mr Green is being kind here.
  • #36
  • Apr 17, 2008 11:38am Apr 17, 2008 11:38am
Quoting HenryM
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?
Which of them {by ratio} catch more of their specific prey & how do we compare the costs involved?
(What would an 'Angler' do with 1,000 lbs of Bottle Nose?)
  • #37
  • Apr 17, 2008 11:52am Apr 17, 2008 11:52am
Quoting Bemac
Which of them {by ratio} catch more of their specific prey & how do we compare the costs involved?
(What would an 'Angler' do with 1,000 lbs of Bottle Nose?)
I see what you are getting at, but in this ocean - the forex market, there is only one prey and it is called pips.
  • #38
  • Apr 17, 2008 2:39pm Apr 17, 2008 2:39pm
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
And what's this common sense HenryM ? ,the so called 'sense' might not be so common afterall ,trust me !
Am a Pipnessman ....
  • #39
  • Apr 17, 2008 3:55pm Apr 17, 2008 3:55pm
Henry,

Can I take the opposite side of your trades? You can deposit money into my bank account. I will set you up with a demo for however much you deposit and you can bang yourself silly. 5000 minimum deposit. As much leverage as you want.
  • #40
  • Apr 17, 2008 4:29pm Apr 17, 2008 4:29pm
Quoting HenryM
I never even hinted at knowing anything. I am the least knowledgable when discussing technical analysis. I know the jargon, but that is it! I am trying to challenge our traditional thinking about the market, because the success ratio of the traditional way of doing things does not seem to work very well for most of us.
What challenge, (beating around the bush) show us your actual strategy already...
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