Do you guys find that forex trading sucks? | Page 2 | Forex Factory

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Do you guys find that forex trading sucks?

  • #21
  • Dec 18, 2011 6:19pm Dec 18, 2011 6:19pm
Quoting erock
It's not called a short squeeze, it's called insane volatility that loses all of your money. I trade a 100k account and that's why I DON'T trade forex. I have other options.

Sorry to burst your bubble but nobody is making money off of forex, including you.

What exactly are you hoping to achieve from this thread?

1. For people to disagree with you so that you can argue they're wrong until they are forced to reveal their profitable method to you to prove you are wrong?

2. For people to agree with you so you don't feel so bad that you suck at forex?

3.To tell everyone that you have a 100k account?
  • #22
  • Dec 18, 2011 6:20pm Dec 18, 2011 6:20pm
"Sorry to burst your bubble but nobody is making money off of forex, including you." - Erock

This is the only comment i will make in this thread and will not return. Your ignorance is shown by your use of such a broad statement. I leave you with an African proverb that says, the man who says it cannot be done should not bother the man who is doing it.
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
  • #23
  • Dec 18, 2011 6:25pm Dec 18, 2011 6:25pm
Quoting havaiana
What exactly are you hoping to achieve from this thread?

1. For people to disagree with you so that you can argue they're wrong until they are forced to reveal their profitable method to you to prove you are wrong?

2. For people to agree with you so you don't feel so bad that you suck at forex?

3.To tell everyone that you have a 100k account?
I'm not hoping to achieve anything. Like I said I didn't have a negative experience trading forex, it wasn't positive either.

I'm just seeing what others thought.
  • #24
  • Dec 18, 2011 6:26pm Dec 18, 2011 6:26pm
Quoting capstone
"Sorry to burst your bubble but nobody is making money off of forex, including you." - Erock

This is the only comment i will make in this thread and will not return. Your ignorance is shown by your use of such a broad statement. I leave you with an African proverb that says, the man who says it cannot be done should not bother the man who is doing it.

Consistently over time I would say people aren't making money off of forex
  • #25
  • Dec 18, 2011 6:27pm Dec 18, 2011 6:27pm
Quoting erock
I'm not hoping to achieve anything. Like I said I didn't have a negative experience trading forex, it wasn't positive either.

I'm just seeing what others thought.
I agree by the way that alot of other markets are 'smoother' than forex, that doesn't mean people aren't making money trading it
  • #26
  • Dec 18, 2011 6:31pm Dec 18, 2011 6:31pm
Quoting havaiana
I agree by the way that alot of other markets are 'smoother' than forex, that doesn't mean people aren't making money trading it
I couldn't make money trading it. I'll be the first to admit it and I'll be the first to admit that trading any market in general is very very difficult.

I'm just trying to see what others thought and if people are truly making money in it.

It's like gambling people talk about all the money they made but never talk their losses.
  • #27
  • Dec 18, 2011 6:32pm Dec 18, 2011 6:32pm
Quoting erock
Let me ask you a couple of questions. How much money do you trade on? What has your average return been for the past 10 years. You are up 110% this year but what were you down the previous 10 years.

I'm just expressing my expericence of the forex market. Which wasn't negative but wasn't positive. I take back what I said I don't think that it should be banned but I just don't think it's a good trading market to make money in. Just my opninion
When you pause and consider the REASONS for it's extreme volatility and WHY it doesn't quite run as smoothly as Equities, then it's simply what it is. Noise is created by random non speculative transactions everyday. The rate is affected by countless other markets. Unlike the stock market which is priced and traded purely for profit motivated individuals. This is why your Stock market strategies won't work in the FOREX market in this economic climate.

You sound more like an Investor to me and I agree with you that FOREX is not an investors market. There are much safer and easier ways. Banning spot FX? LOL good one... Lets ban money altogether whilst we're at it.
Time hides Nothing
  • #28
  • Dec 18, 2011 6:35pm Dec 18, 2011 6:35pm
Quoting CindyXXXX
When you pause and consider the REASONS for it's extreme volatility and WHY it doesn't quite run as smoothly as Equities, then it's simply what it is. Noise is created by random non speculative transactions everyday. The rate is affected by countless other markets. Unlike the stock market which is priced and traded purely for profit motivated individuals. This is why your Stock market strategies won't work in the FOREX market in this economic climate.

You sound more like an Investor to me and I agree with you that FOREX is not an investors market....
Good point, could be why I didn't have success with it. Maybe some are making money in it. You just have to have a different strategy I guess.

Even futures which has volatility is not like forex at all. You can't compare the two.

No it shouldn't be banned but highly regulated
  • #29
  • Dec 18, 2011 6:50pm Dec 18, 2011 6:50pm
Quoting erock
By having more stability those markets adhere to normal fluctuations. For example when equity or futures markets are in down trends they tend to continue in a down trend, allowing to make a profit and vice versa in up trends.

Forex markets really don't follow that at all. You'll be in a trend and the market will just swing back against you.
Not sure if you mean the market is moving against the trend of the futures or just spiking against the trend

If forex is moving away from futures sounds like an inefficiency you could arb and a pretty good reason to trade it

if it is spiking against the trend before returning sounds like an inefficiency in the market that doesn't exist in futures
  • #30
  • Dec 18, 2011 6:52pm Dec 18, 2011 6:52pm
Quoting erock
It's like gambling people talk about all the money they made but never talk their losses.
Indeed. And welcome to Forex Factory (although I note you have been a member for quite some time). This is the forum where all the winners reside.
Nothing worth having is easy.
  • #31
  • Dec 18, 2011 6:54pm Dec 18, 2011 6:54pm
Quoting erock
It's like gambling people talk about all the money they made but never talk their losses.
That is no different to any other trading forum though

by the way:

http://www.forexfactory.com/showthread.php?t=332054
  • #32
  • Dec 18, 2011 6:56pm Dec 18, 2011 6:56pm
Quoting erock
I've traded forex for the past year. I trade on about $100,000 account and normally trade futures and equities.

Normally if I trade a currency I trade it through a futures contract. I decided to incorporate forex into my trading but was greatly disappointed.

There is too much volatility and the markets don't adhere to any trading theory or indicator. Forex markets don't even adhere to basic psychology that most markets adhere to.

You also can't write covered calls or puts that help to add income to your positions. It just seems like...
I used to trade equities before i join forex. I thought i could repeat the success in equities easily but i was wrong. Forex does not work completely like equity market. You hardly see a crazy wild swings and extreme intraday volatility in equities but they are normal is forex. Further more forex is a 24 hours market hence the impact of intraday seasonality is high compare to equity market.

General speaking, every markets is difference. They have their own 'personality'. You just need to relearn everything that you learnt in equity market. It should not be difficult for you since you already got the basic.
  • #33
  • Dec 18, 2011 6:58pm Dec 18, 2011 6:58pm
Quoting ForexQuant
I used to trade equities before i join forex...
Any particular reasons you made the switch to forex? (or maybe you are still trading equities as well?)
  • #34
  • Dec 18, 2011 7:06pm Dec 18, 2011 7:06pm
[quote=havaiana;5232838]
Quoting ForexQuant
I used to trade equities before i join forex...quote]

Any particular reasons you made the switch to forex? (or maybe you are still trading equities as well?)
Shorting stocks is forbidden in my country and the trading cost is far more lower in forex.
  • #35
  • Dec 18, 2011 7:06pm Dec 18, 2011 7:06pm
[quote=havaiana;5232838]
Quoting ForexQuant
I used to trade equities before i join forex...quote]

Any particular reasons you made the switch to forex? (or maybe you are still trading equities as well?)

I tried forex because I thought it would give me additional markets to trade. I typically will follow trends.

Just didn't have success with it, not like I did with futures and equities. Just not my cup of tea.
  • #36
  • Dec 18, 2011 7:07pm Dec 18, 2011 7:07pm
[quote=ForexQuant;5232847]
Quoting havaiana

Shorting stocks is forbidden in my country and the trading cost is far more lower in forex.

Really, what country do yo live in? Can you open a U.S. account
  • #37
  • Dec 18, 2011 7:35pm Dec 18, 2011 7:35pm
[quote=erock;5232848]
Quoting havaiana


I tried forex because I thought it would give me additional markets to trade. I typically will follow trends.

Just didn't have success with it, not like I did with futures and equities. Just not my cup of tea.
I did trendtrading like what i did in equity. However it just didnt work exactly the same. It could be bullish at london session but completely wipe out your profit in last 2 hours of new york session. For the 1st time in my trading carreer, i felt like an idiot and lost money like you did.

Anyway i think not everyone can trade all markets. So even if you cannot make money in forex, it doesnt mean that you are a loser who cries daddy. Unlike many others here who never traded other markets, i completely understand your situation. It is just not your cup of tea.

[quote=erock;5232851]
Quoting ForexQuant


Really, what country do yo live in? Can you open a U.S. account
I live in Malaysia where she has timezone of gmt+8. That means i need to stay awake during midnight if i trade us market.
  • #38
  • Dec 18, 2011 7:53pm Dec 18, 2011 7:53pm
Just to get a good idea for decent systems , you can perhaps do 'advanced search' at zulutrade , or any other system social sites ..

1) Has Live Traders (running live)
2) Running Weeks: 15 (live for sometime)
3) Win rate : 75 - 100 % (has an edge)
4) Worst Trade : 0 - 50 pips (risk controlled)
5) Max Open Trade : 0 - 5 (low drawdown)
6) Profitable (works ! )
  • #39
  • Dec 18, 2011 7:54pm Dec 18, 2011 7:54pm
Quoting privatefr
I am a professional trader, trading forex for over 10 years, and I am up +110% this year.

Forex it is a complicated market, but it is not more riskier than commodities or equities at all, totally the contrary if you know how to trade it. (this is the original reason of the higher leverage in forex, to compensate the daily smaller price moves compared with your "safe" markets).

You just cant come from other markets and begin trading forex the same, because this attitude will end you in trouble.

You are free to express your opinions...
Technically, forex is extremely complex but repetitive. You just have to know what to look for. It's not for the faint hearted though.
The road to pipland is arduous and fraught with challenge.
  • #40
  • Dec 18, 2011 8:05pm Dec 18, 2011 8:05pm
Quoting erock
I've traded forex for the past year. I trade on about $100,000 account and normally trade futures and equities.

Normally if I trade a currency I trade it through a futures contract. I decided to incorporate forex into my trading but was greatly disappointed.

There is too much volatility and the markets don't adhere to any trading theory or indicator. Forex markets don't even adhere to basic psychology that most markets adhere to.

You also can't write covered calls or puts that help to add income to your positions. It just seems like...
Not sure what kind of trading you're talking about, but I do perfectly fine Swing trading Forex. However, I Daytrade ES - can't Daytrade Forex for some reason.
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