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Trading...Yeah Right...

  • #1
  • First Post: May 5, 2008 5:15pm May 5, 2008 5:15pm
So I have been Trading for about 9 months and what have i learned?
Nothing, I have bought at least 10 systems, and none work. I have tried every technique out there and you no what i got nothing. What have I learned here? Nothing, because allot of the so called experts are nothing more than wanna be players still on demo accounts, and when a real trader shows how he make money they bash the hell out of him and he is gone.
  • #2
  • May 5, 2008 5:24pm May 5, 2008 5:24pm
hehe you're right about the "demo traders". Very rare to see real professional traders on this forum. I would suggest checking out feb2865's thread. He has a good old fashioned strategy but its more about his approach to trading which we must learn. Trading is a game of probability. We must accept and be prepared for losses and understand that with good risk management we can eventually come out with profits due to the laws of probability.

http://www.forexfactory.com/showthread.php?t=80290
  • #3
  • May 5, 2008 5:31pm May 5, 2008 5:31pm
hang in there it's not an easy business my simple suggestion would be to stop looking at ea's and automated systems and learn to trade manually first so you understand what the indicators are and how each one works. remember indi are just someones interpretation of price or sentiment etc if you stick to the classics it will soon click

check out james16 or auslanco or OZfx any of their threads

also this helped me out it showed me what I would have to make every day, week, month in order to replace my current income. based on the amount of trading days.

any way i hope this helps
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  • #4
  • May 5, 2008 5:40pm May 5, 2008 5:40pm
TBH, 9 months is nothing. A successful trader can take up to 2 years to make a profit. And if you haven't learnt anything at all from trying different systems then it's likely that trading isn't for you.
The market reveals who we really are...
  • #5
  • May 5, 2008 5:45pm May 5, 2008 5:45pm
it took me 3 years, forex is the hardest market to trade, there are more looser's in this market then any other market.
If I Go Broke Trying Then I Will die happy.
  • #6
  • May 5, 2008 5:47pm May 5, 2008 5:47pm
You said you bought systems, tried ea's etc. What you did not say you did was actually spend a lot of time looking at charts and trying to learn, you wanted to take the easy way out and piggy back onto someone else's hair brained get rich quick scheme. Even on the good threads like Ozfx which is a really good approach the let's take the easy way out and create an EA crowd has taken over and all the real traders have left so now it is a bunch of noobs leading one another around by the nose.

My point is you have to develop a system that works for you, be it using indicators, price action, trendlines/pivot points, wave theory, MAs etc etc. All of which you will have success with if you stick with it and learn that when trading you are really only trading against yourself, in a lot of ways its just like golf.
  • #7
  • May 5, 2008 6:52pm May 5, 2008 6:52pm
May 18th of 2006 I opened an account with REAL money. That account is still open. Granted, I have not been able to withdraw any money and but a new car or house or flash what I made but, it's still there. I have not had to open a new account due to blowing the money I have in there. I am now at a milestone I have had 2 people so far give me money to open accounts for them. I don't think I'm even gonna charge them for trading with their money. I don't suggest systems. Bad idea. Very bad idea. If you see results someone gives you from this system you are giving them money for, yeah, its gonna sound good. When you start using it, you won't see things the way the person did when they got the results they had and gave to you.

I came to this forum a few years ago and started learning about many things. I was so overwhelmed. I got MT4 charts and started downloading indicators and trying these systems others had. Reading their posts, they seemed to do pretty good. I would pout the same exact indicators on my charts and make sure it was exactly the same as the person that came up with the system. Guess what, I they didn't work for me. I may have taken the signal when it was made at the same exact time as the person with the original system and I lost at the same time they won. Make sense? Maybe I was greedy, maybe I saw -40 or -50 pips and closed it. Maybe when I closed it, that person with the original system knew what to look for and said only one more hour and it is gonna happen. There are so many reasons for a system working for one person and not another. I spent hours upon hours putting this indicator and that indicator on a chart. Looked good in one spot and not another. I would get to a point and think alright this is it I bet noone else has thought of this before. This is gonna make it. Boy was I wrong. I bet that was about 9 months into my trading. Start to get my point? I am getting up in more than 4 yrs now. I haven't made a demo trade for 1 1/2 yrs at least. Guess what, I'm still here. And for the record, I have tried over 25 systems and have looked at close to 300 indicators. None of them are the holy grail. Your mind is the holy grail. The best indicator is a trend line.

One other thing, off demp for at least 1 1/2 yrs I don't consider myself a player. I'm a trader with goals. A player goes to a casino or a bar when he is desperate.
JOHN 3:16
  • #8
  • May 5, 2008 8:13pm May 5, 2008 8:13pm
It's not the system that makes money, it's the trader. You could give the exact same trade to 2 different people and one would make money and the other would lose money.
  • #9
  • Edited May 6, 2008 1:30am May 5, 2008 9:51pm | Edited May 6, 2008 1:30am
Quoting NoBread
So I have been Trading for about 9 months and what have i learned?
Nothing, I have bought at least 10 systems, and none work. I have tried every technique out there and you no what i got nothing. What have I learned here? Nothing, because allot of the so called experts are nothing more than wanna be players still on demo accounts, and when a real trader shows how he make money they bash the hell out of him and he is gone.
Check out Jacko's thread if you haven't already...

http://www.forexfactory.com/showthre...23#post1425723
  • #10
  • May 5, 2008 11:13pm May 5, 2008 11:13pm
Quoting Rabid
It's not the system that makes money, it's the trader. You could give the exact same trade to 2 different people and one would make money and the other would lose money.
Trading cliche number 659.
The breaking of a wave cannot explain the whole sea.
  • #11
  • May 6, 2008 2:03am May 6, 2008 2:03am
Quote
Trading cliche number 659.

Laff, doesn't mean it isn't true. Just means that any given system may work for one person and not another.
  • #12
  • May 6, 2008 4:05am May 6, 2008 4:05am
Quoting Moe
it took me 3 years, forex is the hardest market to trade, there are more looser's in this market then any other market.
but many people say they moved from stocks, etc to forex......

so in your opinion, which is the easiest market ?

maybe time for me to move ?
  • #13
  • May 6, 2008 4:56am May 6, 2008 4:56am
Quoting NoBread
.............. and when a real trader shows how he make money they bash the hell out of him and he is gone.
You are 100 % right on this.
Ever wondered why some of the older posters are not here anymore !!!
  • #14
  • May 6, 2008 5:10am May 6, 2008 5:10am
Quoting findcount
but many people say they moved from stocks, etc to forex......

so in your opinion, which is the easiest market ?

maybe time for me to move ?
stock, forex is the hardest market to trade, there is more looser's in this market then any other market, 95% looser's :hypnotized:
If I Go Broke Trying Then I Will die happy.
  • #15
  • May 6, 2008 5:24am May 6, 2008 5:24am
Quoting endroute
You said you bought systems, tried ea's etc. What you did not say you did was actually spend a lot of time looking at charts and trying to learn, you wanted to take the easy way out and piggy back onto someone else's hair brained get rich quick scheme. Even on the good threads like Ozfx which is a really good approach the let's take the easy way out and create an EA crowd has taken over and all the real traders have left so now it is a bunch of noobs leading one another around by the nose.

My point is you have to develop a system that works for you, be it using indicators, price action, trendlines/pivot points, wave theory, MAs etc etc. All of which you will have success with if you stick with it and learn that when trading you are really only trading against yourself, in a lot of ways its just like golf.


I do study charts 18 hrs a day, and i have always wanted to learn not be hooked on a trade signal, nor depend on anybody saying go long here or short there. And as far as ea's go, please i think in this market those things are junk. I think as new traders we all get frustrated to the point that you ask why bother? I have seen some guys that want a system that proves its self 1000 times perfect, well I know as a trader there will be losses. My point to this thread, is that there allot of new traders that want to learn the right way, but the snake oil salesmen are everywhere in this biz.
  • #16
  • May 6, 2008 5:33am May 6, 2008 5:33am
Quoting NoBread
........but the snake oil salesmen are everywhere in this biz.
Very true. My advice would be to pick a pair, study it, study it some more, and then some more. Read some of the system here and then develop your own system, tweak it as needed.

There's alot of great information here on the Factory, often times it's hidden in between a little bs though.
  • #17
  • May 6, 2008 6:19am May 6, 2008 6:19am
Quoting NoBread
I do study charts 18 hrs a day, and i have always wanted to learn not be hooked on a trade signal, nor depend on anybody saying go long here or short there. And as far as ea's go, please i think in this market those things are junk. I think as new traders we all get frustrated to the point that you ask why bother? I have seen some guys that want a system that proves its self 1000 times perfect, well I know as a trader there will be losses. My point to this thread, is that there allot of new traders that want to learn the right way, but the snake oil salesmen are everywhere in this biz.
renasdad explained very well what we all go through. I'm about where he is, not blowing account, not making it big either.

Sounds to me like you'll make it if you hang in there. That is the only thing that is true about ALL the ones that make it - they persisted through it all, no matter how tough it got.

That doesn't mean that if you persist you WILL make it. But if you don't, you surely won't.
  • #18
  • May 6, 2008 6:20am May 6, 2008 6:20am
Quoting NoBread
So I have been Trading for about 9 months and what have i learned?
Nothing, I have bought at least 10 systems, and none work. I have tried every technique out there and you no what i got nothing. What have I learned here? Nothing, because allot of the so called experts are nothing more than wanna be players still on demo accounts, and when a real trader shows how he make money they bash the hell out of him and he is gone.
BooHoo BooHoo

you ok mate, poor guy things are so tough.

you know what, this is the hardest way to make a easy living never forget that. u think your one of the 5% that make it?

then stop your crying and do it.


what a joke.
  • #19
  • May 6, 2008 9:56am May 6, 2008 9:56am
Quoting NoBread
I do study charts 18 hrs a day, and i have always wanted to learn not be hooked on a trade signal, nor depend on anybody saying go long here or short there. And as far as ea's go, please i think in this market those things are junk. I think as new traders we all get frustrated to the point that you ask why bother? I have seen some guys that want a system that proves its self 1000 times perfect, well I know as a trader there will be losses. My point to this thread, is that there allot of new traders that want to learn the right way, but the snake oil salesmen are everywhere in this biz.
Just like other trading vehicles forex does have its share of dirtbags trying to sell systems and advice. You have to find systems that work for you, look at the OZfx thread (the first part of the thread before it was hijacked by noobs that wanted an EA to do everything for them), there is a great very profitable strategy there, look at Jackos House of Pain thread, again a great great thread lots of good info and interact with a great group of traders.
  • #20
  • May 6, 2008 2:27pm May 6, 2008 2:27pm
There are EAs that make money over time. All of them suffer drawdown periods, but some do make money. There are a few books on automated trading systems, you'd be surprised how simple they are... some of the best are only 3 or 4 conditions with no indicators.
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