Trading forex profitable is impossible! | Page 5 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

It's impossible to lose money in Forex!!! 91 replies

The impossible-question regarding Forex 63 replies

Is it impossible for American traders to get rich in forex? 24 replies

long-run profits impossible with short-term trading? 39 replies

Attachments: Trading forex profitable is impossible!
Exit Attachments

Trading forex profitable is impossible!

  • #81
  • Jan 31, 2009 5:02am Jan 31, 2009 5:02am
Quoting Maarten999
TAKE IT EASY!
TAKE A DEEP BREATH!
CALM DOWN!

First, I don't want to insult you personally as a trader. I am here to discuss things with a open mind.

But I have a question: how can anyone trade forex profitable for some time, lets say a year. Because in the short term you may end up with a few pips on every trade but in my opinion that is still gambling. If you roll the dice a few times there is a change that it hits the number 2 a few times in a row. But the man throwing that dice didn't do anything to it. It was just the luck of the toss....

My personal thought on this is...

If you think it is luck, then i hope you are wrong. As I'm sure that many are paying their bill, feeding their family, purchase houses for their wife/wives, buy gift for their girlfriend, bring up their pets etc with their trading income. some may trade for commission (win or lose)... or some over a long period of career, found out that they can double, triple, quadruple the account they traded and then they choose to go private... or of course there are some genius private trader who acquired the ability for much shorter time...or etc. If this is true, saying it is because of luck is an insult although you said you dont mean it.

sorry for my bad english, although i live in an english speaking country, still english is not my mother tongue and i have a very limited social circle hehe.
I am bored..
  • #82
  • Jan 31, 2009 5:16am Jan 31, 2009 5:16am
It can be profitable. Fact.
Attached File(s)
File Type: pdf WEEK05.pdf   111 KB | 812 downloads
  • #83
  • Jan 31, 2009 7:46am Jan 31, 2009 7:46am
  •  onu
  • | Joined Feb 2006 | Status: superior senior member | 746 Posts
Quoting cybernet69
It can be profitable. Fact.
your demo acc statement proofs nothing....
  • #84
  • Jan 31, 2009 11:37am Jan 31, 2009 11:37am
For newbie, luck is a must. But for a veteran forex trader, luck is just a bonus.
  • #85
  • Jan 31, 2009 11:55am Jan 31, 2009 11:55am
You dont need luck if you just trade off pure price action. Stick with the daily charts and learn to read price action and you will realize there is a whole different world of trading out there. There are many great sources on price action analysis and price action setups.
  • #86
  • Jan 31, 2009 12:01pm Jan 31, 2009 12:01pm
Quoting onu
your demo acc statement proofs nothing....
It isn't.
  • #87
  • Jan 31, 2009 12:08pm Jan 31, 2009 12:08pm
The EA handles requotes/slippage found within live markets. If you look at the statement, most trades are with JPY pairs. Ask any good forex trader why this works before and after the Asia session!!
  • #88
  • Jan 31, 2009 12:39pm Jan 31, 2009 12:39pm
  •  onu
  • | Joined Feb 2006 | Status: superior senior member | 746 Posts
Quoting Tjpld
It isn't.
it is
  • #89
  • Jun 22, 2012 4:44am Jun 22, 2012 4:44am
Quoting Maarten999
TAKE IT EASY!
TAKE A DEEP BREATH!
CALM DOWN!

First, I don't want to insult you personally as a trader. I am here to discuss things with a open mind.

But I have a question: how can anyone trade forex profitable for some time, lets say a year. Because in the short term you may end up with a few pips on every trade but in my opinion that is still gambling. If you roll the dice a few times there is a change that it hits the number 2 a few times in a row. But the man throwing that dice didn't do anything to it. It was just the luck of...
Yea, i've also tried a lot of strategies, have read a lot of books but my trading is awful. It's so slow. Big profits are rare. Small profits or stop losses moved to breakeven hit very often and standard stop loss (never big btw) also hit regularly so my big profits can't overcome them because lots of small stop losses kill those profits. I always enter a trade when it is a signal but it doesn't help. 1:3 (risk:reward) strategy doesn't happen often, stop losses still win at the end. I agree with you that it is almost impossible to defeat 50/50 (win/loss) forex trading probability.
  • #90
  • Jun 22, 2012 5:15am Jun 22, 2012 5:15am
Quoting Ged
Yea, i've also tried a lot of strategies, have read a lot of books but my trading is awful. It's so slow. Big profits are rare. Small profits or stop losses moved to breakeven hit very often and standard stop loss (never big btw) also hit regularly so my big profits can't overcome them because lots of small stop losses kill those profits. I always enter a trade when it is a signal but it doesn't help. 1:3 (risk:reward) strategy doesn't happen often, stop losses still win at the end. I agree with you that it is almost impossible to defeat 50/50 (win/loss)...
- abandon it if it's awful. And by awful i'm sure you mean it's hard. Yep, trading is hard until you master it. Just like any other endevour
- yes it's slow. It's not a get rich quick scheme
- no they are not. Forex is one of the most trend-friendly markets there is. Look at the 4hr charts for example, see how many trends you see for 10 currency pairs in 1 month. The fact that you are not riding the trends is another thing. And big profits(with applied risk management) comes with a big account. Until you have that, patience is needed
- they hit regularly because maybe your SL is too short and have no idea what you are doing ? (no offense, but from your post, it sure seems like it).

But that's we are a community here, to help each other, so read a lot, and ask a lot, read some more, look at charts, try different things, experiment. find what suits you best.

You still have a lot of work to do, if you're not up to it, quit
Twitter: @forexpokerpro
  • #91
  • Jun 22, 2012 5:23am Jun 22, 2012 5:23am
Quoting Ged
Yea, i've also tried a lot of strategies, have read a lot of books but my trading is awful. It's so slow. Big profits are rare. Small profits or stop losses moved to breakeven hit very often and standard stop loss (never big btw) also hit regularly so my big profits can't overcome them because lots of small stop losses kill those profits. I always enter a trade when it is a signal but it doesn't help. 1:3 (risk:reward) strategy doesn't happen often, stop losses still win at the end. I agree with you that it is almost impossible to defeat 50/50 (win/loss)...
With a Risk:Reward of 1:3, one win covers 3 losses, your break even point is (1/(1+3)) 25%, that is if you can get a win 25% of the time, your system is breakeven (minus spreads). So if you can manage to bump a winning trade probability to even 33%,, 1 in 3 trades setups, then you'll be in the green. You don't need to be over 50/50 probability to have a winning system.
  • #92
  • Jun 22, 2012 5:42am Jun 22, 2012 5:42am
Quoting Ninto
In the long run, skill is more important than luck.

You can get lucky on an individual windfall, a single trade, but consistent successful trading is not luck. It's a career.

I've been trading for two years now, consistently profitable. Never blown an account.
ok. give us your investors passw. we'll check out. If not, you're lying as many others.
  • #93
  • Jun 22, 2012 5:58am Jun 22, 2012 5:58am
Quoting Ged
ok. give us your investors passw. we'll check out. If not, you're lying as many others.
Ged, from this post I can infer that you are a bit frustrated. There is no need to start asking for account password and saying that everyone is lying. Just because you can't do it NOW !!!!! doesn't mean that other can't or that you will never be successful

May I please ask:
- how much study did you put in learning how to trade(hours, and be honest)
- how long did you demo-trade before you opened a live account ?
- did you open a live account with money you could afford to lose ? (be honest, if you were to light that money on fire, would it matter to you ? )
- how much do you risk / trader ?
- do you base your trading decisions on some system ? mechanical or discretionary, doesn't matter, do you have rules ?
Twitter: @forexpokerpro
  • #94
  • Jun 22, 2012 6:49pm Jun 22, 2012 6:49pm
Quoting BBPI_fxtrader
Ged, from this post I can infer that you are a bit frustrated. There is no need to start asking for account password and saying that everyone is lying. Just because you can't do it NOW !!!!! doesn't mean that other can't or that you will never be successful

May I please ask:
- how much study did you put in learning how to trade(hours, and be honest)
- how long did you demo-trade before you opened a live account ?
- did you open a live account with money you could afford to lose ? (be honest, if you were to light that money on fire, would...
Exactly
Come with me if you want to live....
  • #95
  • Jun 23, 2012 1:43am Jun 23, 2012 1:43am
Quoting Ged
ok. give us your investors passw. we'll check out. If not, you're lying as many others.
I so agree with you.
Not that I am interested at all in this particular poster or anyone claiming poistive result over time without proof.
it seems to me that by logic, proving a positive is possible, proving a negative is not.
No one ever comes forward with a positive, therefore it's all lies....
  • #96
  • Jun 23, 2012 2:00am Jun 23, 2012 2:00am
Quoting BBPI_fxtrader

doesn't mean that......you will never be successful
I wouldn't want to be long that possibility, being observant is kinda prerequisite to be a successful trader.
  • #97
  • Jun 23, 2012 2:36am Jun 23, 2012 2:36am
Quoting Mingary
I so agree with you.
Not that I am interested at all in this particular poster or anyone claiming poistive result over time without proof.
it seems to me that by logic, proving a positive is possible, proving a negative is not.
No one ever comes forward with a positive, therefore it's all lies....
why don't you concentrate on your trading instead of concentrating how much x and y really make ? why does it matter how much another trader makes ?
Twitter: @forexpokerpro
  • #98
  • Jun 23, 2012 2:39am Jun 23, 2012 2:39am
Quoting pipmutt
I wouldn't want to be long that possibility, being observant is kinda prerequisite to be a successful trader.
Agreee pipmutt, but I do believe that trading can be thought, and an experienced/veteran trader can turn a novice into a professional, provided the novice has a passion for trading and puts in the hard time needed to become successful

Of course, having Ged's attitude will get one nowehere in trading...
Twitter: @forexpokerpro
  • #99
  • Jun 23, 2012 2:48am Jun 23, 2012 2:48am
Not doing this for myself (I know no one makes money long term in forex), but as a public service.
Some gullible soul hears / reads that someone's cousin told his friend's sister who told him that his neighbor is making big money in forex.
Therefore it's just the justification needed to go skinning dipping in the big forex pond (it's ok to swim, there are no sharks you know)
  • #100
  • Jun 23, 2012 3:06am Jun 23, 2012 3:06am
Quoting Mingary

Not doing this for myself (I know no one makes money long term in forex), but as a public service.
Disservice more like!

So in your opinion, and from your experience, no one can consistently make money from trading, is that what you're saying?
0 traders viewing now