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Stop fooling yourself; There is no system

  • #141
  • Feb 1, 2009 8:40am Feb 1, 2009 8:40am
Quoting Vlad
And there is no one who knows how to trade. If there was, W. Buffet would be his butler and Bill Gates his foot chair. 5% per month, which many "traders" find to be laughable, make 1 trillion dollars out of $50 in less than 40 years. Unless you are a fat rat from a Federal reserve with insider's info, trading is glorified gambling no more and no less. Only ones who win are those who are lucky and quit early. Sorry.
Too much negativity in your post. Everything is possible...

“A man is literally what he thinks, his character being the complete sum of all his thoughts.” (James Allen)
  • #142
  • Feb 1, 2009 11:18am Feb 1, 2009 11:18am
I dont agree with you! I trade for cca 3 years live and my month average is 6,23 %! i belive in forex trading and live good for now with this job! you are soo negative! if you dont belive in forex trading you will never be + on USD or EUR! You better go to 8 hour job ! good luck!
  • #143
  • Feb 1, 2009 12:09pm Feb 1, 2009 12:09pm
Quoting Vlad
And there is no one who knows how to trade. If there was, W. Buffet would be his butler and Bill Gates his foot chair. 5% per month, which many "traders" find to be laughable, make 1 trillion dollars out of $50 in less than 40 years. Unless you are a fat rat from a Federal reserve with insider's info, trading is glorified gambling no more and no less. Only ones who win are those who are lucky and quit early. Sorry.
lol ....
  • #144
  • Feb 1, 2009 8:01pm Feb 1, 2009 8:01pm
Quoting Markets2EZ
I don't normally go into forums and have not posted in a trading forum in years. I was recently sent an e-mail from a trader friend about this thread and all of the opinions responding to the OP. I am going to make this my first and last post for this forum. I feel the need to respond for those trying to conquer the markets. I would like nothing more for all traders to succeed, but I know that this will never happen.

The markets (any market) are/is very easy to trade. They are not chaotic as some would have you believe. They are very predictable....
I Like your way of thinking .. many are to negative in forex trading and this is the main reason why they fail. negative thinking result in negative action equal negative result.
  • #145
  • Feb 1, 2009 8:07pm Feb 1, 2009 8:07pm
Do you think that this young man would acheive this with a negative mind set ? I dont think so..
From $300 to $240,000 in one month

http://www.fxclub.com/customer-intervew/

  • #146
  • Feb 1, 2009 8:17pm Feb 1, 2009 8:17pm
And for sure with is own system ...
  • #147
  • Feb 3, 2009 4:10am Feb 3, 2009 4:10am
Quoting Lejumeau
Do you think that this young man would acheive this with a negative mind set ? I dont think so..
From $300 to $240,000 in one month

http://www.fxclub.com/customer-intervew/

You need much more than positive thinking to succeed long term in forex trading. Much expertise and hard work is also required. The posts in this thread are not necessarily neagtive; they reflect the fact that consistent profit is not easily achieved, and that the learning curve toward proficiency can be steep and arduous.

To turn $300 into $240,000 in a month, a trader has to be ridiculously over-leveraged. It may be spectacularly newsworthy, but it's the complete antithesis of prudent trading. The real pros seek steady but unspectacular returns, using careful money management and compunding to grow their accounts gradually over time. It's about attention to detail, managing risk, and dealing with losses and uncertainty. Put all of that on top of a profitable method, and you're on your way.

I very much doubt that the post (#118), where the writer claims that he can pick tops and bottoms so accurately that he doesn't need any kind of money management, has been written by a real trader. Sounds very much like he's just blowing smoke. With comments like these, I'm surprised that this thread hasn't been moved to the Rookie section.
  • #148
  • Feb 3, 2009 6:35am Feb 3, 2009 6:35am
from my limited experience so far I'm of the opinion there is really no point in kamikaze trading or trading for unbelievable results even if you think you can pull it off. The reason is such performance is unsustainable in the long run.

What will finally happen is you'll blow your account and this is a certainty

To achieve such results you have to risk a large portion of your account. There is no other way risk and reward are coherently related.

Sooner or later murphy's law of what can go wrong will go wrong will catch up with you. You'll find you've taken a big hit which will set u back considerably if it hasn't impeded your chances of returning to profitability.

A few months ago I used to be totally captivated by such stories of traders parlaying small sums into vast sums of money. Now a days it doesn't even stir my curiosity as I'm pretty sure its nothing more than gun slinging and we all know how gun slingers end up.

I hope the guy who wrote the story of this trader turning $300 to $240,000 in one month will look him up a year or two later and tell us how he's doing.

My guess is he would have gone up in a blaze of glory and taken up some other hobby or profession.
  • #149
  • Feb 3, 2009 3:48pm Feb 3, 2009 3:48pm
Quoting Vlad
And there is no one who knows how to trade. If there was, W. Buffet would be his butler and Bill Gates his foot chair. 5% per month, which many "traders" find to be laughable, make 1 trillion dollars out of $50 in less than 40 years. Unless you are a fat rat from a Federal reserve with insider's info, trading is glorified gambling no more and no less. Only ones who win are those who are lucky and quit early. Sorry.
Vlad,
with your attitude i dont think forex trading is the right place for you. However what you say is not all wrong..

i know people who success in trading but they are dedicated trader which spend a lot of time in understanding the market, take appropriate risk and choose a correct strategy.

I have not seen a success trader who is only a part-timer which mechanically put his position in the morning, go to do something else and then come back home in the evening to book the profit...
  • #150
  • Feb 3, 2009 4:32pm Feb 3, 2009 4:32pm
Quoting hanover

I very much doubt that the post (#118), where the writer claims that he can pick tops and bottoms so accurately that he doesn't need any kind of money management, has been written by a real trader. Sounds very much like he's just blowing smoke...
  • #151
  • Feb 3, 2009 7:46pm Feb 3, 2009 7:46pm
Quoting Vlad
And there is no one who knows how to trade. If there was, W. Buffet would be his butler and Bill Gates his foot chair. 5% per month, which many "traders" find to be laughable, make 1 trillion dollars out of $50 in less than 40 years. Unless you are a fat rat from a Federal reserve with insider's info, trading is glorified gambling no more and no less. Only ones who win are those who are lucky and quit early. Sorry.
Many people make a successful living off of the forex market. Having just a basic understanding of indicators and oscillators while implementing a money management plan shifts the gamble from a 50/50 ratio (when to buy/sell) into your favor. Don't believe me, ask some of the heavy weights such as Nison, Jagerson. Martinez, Lien, and/or Toshchakov.

Sounds like you got burned....I do agree that it would be nice owning a printing press like the feds. If you get lucky you might be able to find a press on ebay in a few years.

J
{Promotion Removed}
  • #152
  • Feb 3, 2009 8:22pm Feb 3, 2009 8:22pm
I have similar burned account situation, 3 times. If you have money, invest in good automated systems, it takes away your subjectivity. Only a few good ones I use for past 2 yrs, so far so good.

Avoid those heavily glossy and heavily marketed ones! And trust me no one is going to sell you a good expert advisor/robot for cheap (as many offers eg for USD100-300). The only ones I use cost USD1500 altogether.
Adaptive autotrading is the future...
  • #153
  • Feb 14, 2009 8:39pm Feb 14, 2009 8:39pm
Quoting Markets2EZ
I don't normally go into forums and have not posted in a trading forum in years. I was recently sent an e-mail from a trader friend about this thread and all of the opinions responding to the OP. I am going to make this my first and last post for this forum. I feel the need to respond for those trying to conquer the markets. I would like nothing more for all traders to succeed, but I know that this will never happen.

The markets (any market) are/is very easy to trade. They are not chaotic as some would have you believe. They are very predictable....

That is me talking.. very well said but very sad as to why so many still dont get it.. except for a few like Parisience, mt41.... I dont usually post in forums but sometimes I just cant help m/self too. Especially from those so called loud and abusive trading "gurus" or members with 10v who still dont get it. Sad indeed .. My favorite is "A trend is not your friend unless you know your trendfriend" Congrats and take care.
  • #154
  • Feb 14, 2009 8:55pm Feb 14, 2009 8:55pm
Originally Posted by Markets2EZ http://www.forexfactory.com/images/buttons/viewpost.gif
...


and how would you described term "a buls...ter"?
  • #155
  • Feb 14, 2009 9:08pm Feb 14, 2009 9:08pm
Quoting fxxx
Originally Posted by Markets2EZ http://www.forexfactory.com/images/buttons/viewpost.gif
...


and how would you described term "a buls...ter"?

I Second that
Traders are smartasses
  • #156
  • Feb 14, 2009 9:21pm Feb 14, 2009 9:21pm
: ))))))))))))))))))
how b.s would soun like?

ppl not like to hear opposite - they woooont to belive it
problem is - in the end those artists disappers....
and ppl like - "i knew this all - b.s., not even good one...; what i beeen thinking?"
: )))))
  • #157
  • Feb 14, 2009 9:32pm Feb 14, 2009 9:32pm
Originally Posted by Markets2EZ http://www.forexfactory.com/images/buttons/viewpost.gif
...
" I can guarantee that Announcements, Fundimental Analysis, Layoffs, or whatever excuse the media and high profile traders say, it doesn't make a difference in market movements...
I do know when and where the markets are going to be a "blockbuster" ...
If one knows where, why,and when, why would someone need Money Management? "
-----------

that's was good one
good 4 him; i wonder how soon he'll make it to the top of the list ...
  • #158
  • Nov 11, 2009 5:10am Nov 11, 2009 5:10am
Just analyze why one has lost, do the opposite .........
Hope this works out..
luv to loose.....
  • #159
  • Jan 14, 2010 2:37pm Jan 14, 2010 2:37pm
So, its been 15 months or so, did anybody became a trillionire while I was gone?
  • #160
  • Jan 14, 2010 3:28pm Jan 14, 2010 3:28pm
There is no "system". This is true. But there are winning "strategies".
However no one will be trillionaire with short term trading. This is because of the limitations of the market. If your trading capital becomes too big you cannot follow your strategy any more. You have to use bigger timeframes and accept smaller and smaller returns as you grow. Nobody can take a 1 billion$ size position with a mouseclick. You will move the market with many pips and it will be the same if you liquidate it. So over a particular size (it depends on the market) it isn't worth the trouble you will lose.
So the only possible solution is to take the profit every month and don't grow anymore. Certainly there is a long way to get to this point but not impossible... if you don't believe it you missed something on the road...
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