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I hate forex - the truth about gains in Forex

  • #61
  • Jul 16, 2010 4:13am Jul 16, 2010 4:13am
Quoting kk007
More than 8% said "double money everyday is true". So many billionaires here. lol
Canyouseeme, darkkiller, ehrek, nhallmark, piponairever, resol, rogerdoger,...
Wow, I didn't realise we were surrounded with so many George Soros' on this forum I feel truly honoured and I will immediately read every single post of the above esteemed traders.
Nothing worth having is easy.
  • #62
  • Jul 16, 2010 4:26am Jul 16, 2010 4:26am
Quoting Patience
Wow, I didn't realise we were surrounded with so many George Soros' on this forum I feel truly honoured and I will immediately read every single post of the above esteemed traders.

No No No... their performances are much stronger than George Soros. They are just not that famous...
  • #63
  • Jul 16, 2010 5:03am Jul 16, 2010 5:03am
Quoting kk007
No No No... their performances are much stronger than George Soros. They are just not that famous...
infamous idiots, that's what they are
Twitter: @forexpokerpro
  • #64
  • Jul 16, 2010 8:36am Jul 16, 2010 8:36am
Quoting Syafi
This is thread for hating forex, you seems to love forex
and yes you are funny......

Syafi, I read through your statements. You will not be successfull until you have an attitude adjustment. You seem to have vengence towards the successfull traders. Why? These types of postings you are willing failure in your life.

I wont give you mystory I have had a love hate relationship with trading in general but overall I love it just as much as I love my job. However I am building my foundation in trading.

I dont want 1000% on my trades. I want consistency on each trade. 1.5 weeks I had about 5 to 10% 9 winning trades and 1 small losing trade.

Stop reading the success of others and do some soul searching. Perhaps trading is not for you? I would hope you learn to fall in love with trading as I and many others have. New people read posts like yours and it causes them doubt and fear, unless they can read between the lines that it is your trading that frustrates you and not other new peoples.
Know when to hold em, Know when to fold em!
  • #65
  • Jul 16, 2010 10:04am Jul 16, 2010 10:04am
Quoting clockwork71
I am not trying to be mean, but how do you expect to start a business on only $500? And if you do, do you expect it to return a living right away? A little far-fetched.

I understand the under-capitalised part, I really do. And that's what keeps most retail traders in the category of "liquidity".

However, a "paltry" 4% a month on said $500 account in 10 years is 59k. Not a bad return. Besides, you can always add to the account as time goes on. Just like your 401k.

Clockwork
I have made a 27% return this week alone. I was originally at 80% and I screwed it up because even at 80%, I got greedy. Even more still... I started my forex mini account with 300.00. 1 lot at a time, slow and steady wins the race! With an increasing balance, it gets harder and harder to make a higher percent with the same lot sizes. Once I have reached 600.00, it's time to move up to 2 lots / trade.

Patience is one of the biggest keys to this... something I know and understand... and still let my emotions get a hold of me this week.
  • #66
  • Jul 19, 2010 1:09pm Jul 19, 2010 1:09pm
  •  Xpsb
  • | Joined Mar 2010 | Status: That's a Gate ahead not a Wall | 36 Posts
I don't hate forex despite trading it for 4 months and being -10% on my account.

Yes I’ve pointed fingers when stops have been taken out etc etc etc but in the cold light of day when I’ve analysed the reason for a poor failed trade, guess where the fingers pointing, yes, at me!!! I’ve either broken my own rules, let emotion interfere, or made a mistake, you name it I've probably done it. But I'm still in business and here to talk about it

From a personal perspective Education is vital, learn every day. Keep accurate records for revision and post trade analysis. Be disciplined, Patient, Know yourself, understand your chosen market and the chosen platform used to trade it.

If you miss the bus just wait for the next one

XPSB
  • #67
  • Jul 19, 2010 1:28pm Jul 19, 2010 1:28pm
I seriously doubt that anyone who hates forex will ever become professional. I think most pro's will say that they are in the game for more than the money. personally i take more pride in executing trades correctly and seeing my account grow steadily rather than actual money. I am motivated by the challenge and i strive to become a better trader every day and every week, slowly trying to fine tune myself.

xpsb, so true about the records, i wish i had kept records and a diary to begin with, i could have saved myself so much greif, anyone reading this who trades who does not keep a journal and records, you must start now. I am yet to see a pro that doesnt keep records. its just one step closer to achieving success.
  • #68
  • Jul 27, 2010 6:56am Jul 27, 2010 6:56am
George Soros is more suitable to be classified as investor? or trader? or speculator?

I do not think he is trading daily by just looking at the charts & computer screen...

& his capital is super huge in any order he made.
  • #69
  • Jul 27, 2010 8:20am Jul 27, 2010 8:20am
Trading Forex is not easy; it's very very very hard. But that's the nature of the beast and that's where all the excess profit/return comes from. If trading Forex is so easy like picking up money from streets then EVERYBODY will be doing it and there will be NO excess profit/returns and Forex will become money market fund or savings account. Economics 101

That's the harsh reality that every single trader faces and must accept if he/she wants to be a professional trader.
Make your losses in demo. Earn your profits live.
  • #70
  • Jul 27, 2010 9:17am Jul 27, 2010 9:17am
Well I wish I could say the traders, but only a very small precentage will make money. The ones who makes money in Forex are the ones who are making money from the Forex market:

1. Brokers
2. IBs
3. Affiliates
4. Online marketers
5. Not Forex traders!

think about it
  • #71
  • Jul 27, 2010 5:25pm Jul 27, 2010 5:25pm
Quoting PivotTrade
Well I wish I could say the traders, but only a very small precentage will make money. The ones who makes money in Forex are the ones who are making money from the Forex market:

1. Brokers
2. IBs
3. Affiliates
4. Online marketers
5. Not Forex traders!

think about it
Yeah, none of the traders here are making money.

http://funnyemail.org/wp-content/upl...lage-idiot.png
Not all sins are created equal
  • #72
  • Jul 27, 2010 9:04pm Jul 27, 2010 9:04pm
Quoting Jay Walker
Yeah, none of the traders here are making money.
Only a small percentage, less than 5%, are you one of them? I doubt it, it seems that you spend more time posting here than trading, good luck.
  • #73
  • Jul 27, 2010 9:14pm Jul 27, 2010 9:14pm
Quoting Trad3r
Only a small percentage, less than 5%, are you one of them? I doubt it, it seems that you spend more time posting here than trading, good luck.
Doubt all you want my friend. I'm not here to convince you.
Not all sins are created equal
  • #74
  • Aug 17, 2010 10:02pm Aug 17, 2010 10:02pm
after 6 months of studying and studying every minute of every day

and demo and demo

i still gets no where...

somehow i always wonder if i use my 6 months time to do something else it would be better

i not sure to continue or not

it is like digging and digging
it could be 1 feet away from the gold
or it would be no gold at all
  • #75
  • Aug 18, 2010 12:25am Aug 18, 2010 12:25am
Quoting sam1741

somehow i always wonder if i use my 6 months time to do something else it would be better
Yeah, like making up new usernames on FF and posting, that could be fun, right?
  • #76
  • Sep 13, 2010 2:17pm Sep 13, 2010 2:17pm
I have a couple of items to add here:

1 - Don't go in for the day saying, I will do this or that, because if you don't do it, you will be dissapointed if you do not meet your own expectation. The most realistic expectation is to be profitable daily - that's easily attainable - just not to be in the negative.

2 - Gaining 5-20% is also achievable. I do not trade everyday since I only seek very high probability returns, but when I do trade, I can easily i hit those numbers. I mean, I can trade everyday but there's no reason for me to do so except the challenge - there are numerous setups daily. Low end number today for me would be 5% but can easily hit 20-30% a day.

I have provided live trades in the Interactive Trading section recently to highlight the possibility, and I've also provided screenshots of my account. The only thing I can say in how I did this - I do NOT do or listen to the norm here. Don't do what everyone else does or listen to what majority of what people say here. If I listened to the most postings here, I would not have accelerated my learning and experience as fast as I have. Think outside the box.

As I said though, my only goal is to be in the positive. Once you find your system (own holy grail), it will not be difficult to attain. Keep in mind though, once you hit a certain amount, sustaining it would be difficult. For example, if I had over 5 million in funds. I would not want to raise the MM's eye in a large order - I would have to.... (that's another method).
  • #77
  • Sep 13, 2010 5:27pm Sep 13, 2010 5:27pm
So give up Spot Forex, just trade another instrument.
Binary Options Trader
  • #78
  • Sep 13, 2010 7:45pm Sep 13, 2010 7:45pm
So what should be my expectation be if I want to start trading Forex? Been researching on Forex and found out its quite an interesting.. But I hope to get my facts right so I can know what expectation I should have.
  • #79
  • Sep 13, 2010 9:37pm Sep 13, 2010 9:37pm
Quoting Forex Rookie
So what should be my expectation be if I want to start trading Forex? Been researching on Forex and found out its quite an interesting.. But I hope to get my facts right so I can know what expectation I should have.
You can expect it to take 2 years of trading real money before you even have a clue as to how this market works. If you're in a rush to make profit then I advise you subscribe to a professional signal service like gfsignals.

Expect to get the emotional beat down of your life, but if you can stick with it, you'll find away.
Binary Options Trader
  • #80
  • Sep 13, 2010 10:36pm Sep 13, 2010 10:36pm
Quoting Forex Rookie
So what should be my expectation be if I want to start trading Forex? Been researching on Forex and found out its quite an interesting.. But I hope to get my facts right so I can know what expectation I should have.
Here are a couple good articles that might help you on your journey:

http://www.marketoracle.co.uk/Article22566.html

http://www.marketoracle.co.uk/Article2499.html
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