Not wanting to dishearten anyone here but have a look at this:
http://forexmagnates.com/demo-tradin...-are-alarming/
http://forexmagnates.com/demo-tradin...-are-alarming/
Cable Update - Continued 102 replies
Cable (GBPUSD) vs Euro (EURUSD) 31 replies
Cable Update (GBP/USD) without Idiots 23 replies
Why is GBPUSD called cable? 66 replies
cable short for gbpusd? 6 replies
Dislikedoh my God, u still waiting for your 1.5300/400 when we broke the H4 channel lol . sterling is supposed to be weak next weekIgnored
DislikedI got a victory dance & a victory song spashly for bears if the W1 goes.
Ignored
DislikedNot wanting to dishearten anyone here but have a look at this:
http://forexmagnates.com/demo-tradin...-are-alarming/Ignored
Dislikedall I can say is get ready for 1.5350-1.55 for next week before the big drop to 1.45 have a nice weekend to all!Ignored
DislikedAs we all tend to agree, psychology plays a major role in a Forex trader’s success. As such, the state of mind of the individual will, to a large extent, determine the level of success she’ll enjoy. Therefore, as a trader, I am constantly aiming, and sometimes struggling with all the psychological feedback the market throws at me. This information presents a great learning opportunity to me, because the market reflects back to us the kind of persons we are, and will ALWAYS punish or reward us accordingly. There are some distinct character...Ignored
DislikedThe biggest problem in FX is that is has no entry requirements, any muppet can have a stab at it, call a broker, open an account and have a go. And that skews the statistics, there are 1,000's of retail traders that fail because they have no business being here in the first place.Ignored
QuoteDislikedTrading is a business and needs to be approached as such, 90% of the 95% would fail in any business, not just FX.
QuoteDislikedIf regulators/brokers would set a minimum of 10,000USD as a hurdle for entry the failure rate would drop significantly. OR they should introduce an FX license, pass a written exam before you are allowed in. Keep the muppets and gamblers out.
QuoteDislikedYes, there are some traders that get lucky from the start and do not fail, however for the majority of the succesful traders it is hard work, very hard work. Long hours staring at charts looking for entries, stops and exits, finetuning a strategy, back testing different ideas etc.
QuoteDislikedWhat do I see as the biggest hurdle to success? Capitalisation, period.
There is no instant gratification in FX, bring 10,000 dollars and have 10,000 hours to commit and you will get there. Expect to become a millionaire from 75 bucks and a week looking at some charts and you will fail.
QuoteDislikedrant out.
DislikedDisagree here .. that would have kept me out. It has taken 2-1/2 years of 30+ hours a week to see steady returns. At times my account was only $40! trading 1 micro lot. But I kept at it, never gave up .. now things are different. Everyone should have a chance. If they give up or do something stupid, failure is their fault and they have a right to fail. In fact on my website, I say if you have $50k to risk, put $49,500 in an interest bearing acct somewhere & start your trading with the remaining $500 & a micro acct. You can top it up 'x' number of...Ignored
DislikedThe reason I use the 10,000 dollar rule is commitment. You'd be surprised how many will see a small micro account as just a flutter and will never start taking it seriously. Invest 10 grand and you will. They are not all as self disciplined as you 4X, you have life experience on your side which helps tremendously.Ignored
Dislikedself-disciplined!! LOLOLOL .. I am about as self-disciplined as a butterfly on crack ... BUT .. that is what I had to learn.. after all these years.Ignored
DislikedGRILLED CHICKEN WITH CHIPOTLE-PEACH GLAZE
FROM BETTY CROCKER
PREP: 30 MIN.
TOTAL: 30 MIN.
MAKES: 8 SERVINGS
INGREDIENTS:
½ c. peach preserves
¼ c. limejuice
[font=Times New Roman][size=3]1 can...Ignored
DislikedI agree that the 'any muppet' rule is what skews the stats.
Absolutely agree.
Disagree here .. that would have kept me out. It has taken 2-1/2 years of 30+ hours a week to see steady returns. At times my account was only $40! trading 1 micro lot. But I kept at it, never gave up .. now things are different. Everyone should have a chance. If they give up or do something stupid, failure is their fault and they have a right to fail. In fact on my website, I say if you have $50k to risk, put $49,500 in an interest bearing acct somewhere & start...Ignored
DislikedHow does one learn to trade.
Learning anything is a long and arduous process. The first step is memorising, just at a rote level memorise price patterns, indies, SR's, etc. just memorise a system.
The next step is comprehension or understanding, actually understanding fully what you have observed and memorised, this is the danger level, a level of knowledge that can lead to overconfidence and many a blown account. This is where most traders reach a learning plateau. This is where the real work starts to progress in one's learning process....Ignored
DislikedThe biggest problem in FX is that is has no entry requirements, any muppet can have a stab at it, call a broker, open an account and have a go. And that skews the statistics, there are 1,000's of retail traders that fail because they have no business being here in the first place.
Trading is a business and needs to be approached as such, 90% of the 95% would fail in any business, not just FX.
If regulators/brokers would set a minimum of 10,000USD as a hurdle for entry the failure rate would drop significantly. OR they should introduce an FX...Ignored
Dislikedoh my God, u still waiting for your 1.5300/400 when we broke the H4 channel lol . sterling is supposed to be weak next weekIgnored