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Do you guys find that forex trading sucks?

  • #61
  • Dec 19, 2011 5:15am Dec 19, 2011 5:15am
Another word for bankruptcy: tax optimisation. Bankruptcy means you've successfully hidden your assets from the taxman's eye. It's often more difficult to discover than to conceal. ;-)

Quoting zamfir
Mr Donald Trump filed for bankruptcy twice. Just saying..
forget about tomorrow, just steal away into the night
  • #62
  • Dec 19, 2011 5:21am Dec 19, 2011 5:21am
Quoting antonsatu
Hi Erock,

Do you have any prove that hedge fund manager dont trade forex?

We should understand what is the nature business of hedge fund manager. What is their really money making side, They make money based on fixed fee charged on the client. They play safe, they dont fight to gain max. Averagely they formal gain is 10 to 30% per year (if they making money).

If you make money 10 % per year by Como or future and you are happy yet, its ok. BTW, if you can make 100 or 200% per year, you want it???
Making 10% Per year in forex is easy. Even very...
There are many hedge fund managers out there, most suck at trading and their funds are closed.

Look at the big dogs, Steve Cohen, Paulson, soros, Arnold. These guys don't mess around with FX -- they know it sucks and there's no value to it. Yeah there's tons of leverage but they don't need leverage. Look at their prospectuses and how their funds are broken down ---no FX

Show me your statements from your trading account where you consistently make 100% returns in FX year in and year out, you don't. The FX markets suck.
  • #63
  • Dec 19, 2011 5:27am Dec 19, 2011 5:27am
I just share my opinions and experiences.
If you think fx suck, yes you are right: you are suck in fx.
Thank you,
Anton

Quoting erock
There are many hedge fund managers out there, most suck at trading and their funds are closed.

Look at the big dogs, Steve Cohen, Paulson, soros, Arnold. These guys don't mess around with FX -- they know it sucks and there's no value to it. Yeah there's tons of leverage but they don't need leverage. Look at their prospectuses and how their funds are broken down ---no FX

Show me your statements from your trading account where you consistently make 100% returns in FX year in and year out, you don't. The FX markets suck.
  • #64
  • Dec 19, 2011 5:31am Dec 19, 2011 5:31am
You make money in finance through consistent compounding interest. If you had given Soros $1000 when he started his fund you would have 4 million dollars by 2000.

To make a 30% return year in and year for 30 years is unbelievable. Nobody expect George Soros can do it.

It's like throwing a 95 mph fastball with accuracy there's maybe 20 guys that can do it and they are making millions.

Anyone on this site that says they consistently make 30% returns year in and year out is full of shit.

And anyone on this site that claims they are making 100% returns consistently is really full of extra shit with a scoop of ice on top.
  • #65
  • Dec 19, 2011 5:34am Dec 19, 2011 5:34am
Quoting antonsatu
I just share my opinions and experiences.
If you think fx suck, yes you are right: you are suck in fx.
Thank you,
Anton
I respect your opinion. I'm just saying there's no money in it. If there were the really smart people on Wall street. The guys that really no what they are doing would be in FX markets.

Again get their prospectus, see how their funds are organized and broken down, there's no forex.

Look at your FX account statement for the entire time you've traded forex, is it up or down over the entire period. If it's down, why would you waste your time
  • #66
  • Dec 19, 2011 5:41am Dec 19, 2011 5:41am
the only reason i trade fx is coz i dont have enough margin to open a futures account.i trade crude oil through a bucketshop and that aint cool.i made the observation that fx is more political than other commodities...news every time..thatsucks.i hope to leave the little retailers league
wo-yoy! wo-yoy! wo-yoy! wo-yoi! wo-yoy-yoy-yoy!
  • #67
  • Dec 19, 2011 5:49am Dec 19, 2011 5:49am
Quoting erock
I respect your opinion. I'm just saying there's no money in it. If there were the really smart people on Wall street. The guys that really no what they are doing would be in FX markets.

Again get their prospectus, see how their funds are organized and broken down, there's no forex.

Look at your FX account statement for the entire time you've traded forex, is it up or down over the entire period. If it's down, why would you waste your time
If you say there is no money in forex, then may i ask what are you doing here in FF?
  • #68
  • Dec 19, 2011 5:54am Dec 19, 2011 5:54am
Quoting erock
Show me your statements from your trading account where you consistently make 100% returns in FX year in and year out, you don't. The FX markets suck.


Why is anyone bothering to reply to this nonsense? - Same reason I am?

See ya later troll
  • #69
  • Dec 19, 2011 6:07am Dec 19, 2011 6:07am
Quoting erock
...I'm just seeing what others thought.
I prefer forex because trading costs are lower. I trade very short term (avg trade life ~ 3 mins) and so require very cheap trading costs, ideally <0.7% of ATR. What are your trading costs for equities and futures?
  • #70
  • Dec 19, 2011 6:10am Dec 19, 2011 6:10am
Quoting erock
You make money in finance through consistent compounding interest. If you had given Soros $1000 when he started his fund you would have 4 million dollars by 2000.

To make a 30% return year in and year for 30 years is unbelievable. Nobody expect George Soros can do it.

It's like throwing a 95 mph fastball with accuracy there's maybe 20 guys that can do it and they are making millions.

Anyone on this site that says they consistently make 30% returns year in and year out is full of shit.

And anyone on this site that claims they are making...

I see this type of statement so often. Stop building barriers for yourself that don't exist. Yeah, 30% a year is a great return for a billion dollar fund that needs to build huge positions in the markets that they are targeting, but for the average full time trader 30% a year is hardly worth the trouble. If you trade short term, 100% a year is easily doable with very acceptable risk. You say you make 20% a year or whatever trading your strategy, for most people in forex this would not even be close to happy with this, just not worth the effort.

Just because a hedge fund can't do it, doesn't mean you can't. It is a lot harder to make 20% on a billion dollars than it is to make 200% on $100,000. As I say, don't create unessisary barriers for yourself just because you think it is to good to be true. Your ballance will thank you for it as soon as you knock down the psychological walls you have constructed.
  • #71
  • Dec 19, 2011 6:20am Dec 19, 2011 6:20am
Erock is totally right, there is absolutely no money in forex, for him.

We can't really debate that, can we?
The tone of your words reflects the quality and result of your trading ;-)
  • #72
  • Dec 19, 2011 6:26am Dec 19, 2011 6:26am
Some time ago I wrote a short article about the mass psychology. However the perspective is completely different from what everybody knows about the masses nerd behavior etc.

This is about how you get sucked into the Forex trading, it is about escalation of commitment and the freezing effect.

The perspective is somewhat different from what has been discussed here but I think you would find it to be an interesting read.

If you like the article click on the like button .
http://beathespread.com/blog/view/6066/psychological-mechanisms-of-manipulation-freezing-and-escalation-of-commitment-effects-in-forex
  • #73
  • Dec 19, 2011 6:47am Dec 19, 2011 6:47am
Agree 100% with isaacyassar


Quoting isaacyassar
Erock is totally right, there is absolutely no money in forex, for him.

We can't really debate that, can we?
  • #74
  • Edited 8:55am Dec 19, 2011 8:45am | Edited 8:55am
Quoting Agro
I see this type of statement so often. Stop building barriers for yourself that don't exist. Yeah, 30% a year is a great return for a billion dollar fund that needs to build huge positions in the markets that they are targeting, but for the average full time trader 30% a year is hardly worth the trouble. If you trade short term, 100% a year is easily doable with very acceptable risk. You say you make 20% a year or whatever trading your strategy, for most people in forex this would not even be close to happy with this, just not worth the effort....
You've got to be kidding me A 30% return is excellent for any amount of money

$100,000 investment compounded at 200% in 5 years turns into $24 million dollars. http://www.moneychimp.com/calculator...calculator.htm

I'll give you my money and beg you to trade it for me, if you can do these returns through forex. Please let me see your track record.
  • #75
  • Dec 19, 2011 8:51am Dec 19, 2011 8:51am
living for without FX-suck。Just living for long time in fx,you will win and love it
  • #76
  • Dec 19, 2011 8:56am Dec 19, 2011 8:56am
Quoting erock
You've got to be kidding me A 30% return is excellent for any amount of money

$100,000 investment compounded at 200% in 5 years turns into $24 million dollars. http://www.moneychimp.com/calculator...calculator.htm

I'll give you my money and beg you to trade it for me, if you can do these returns through forex. Please let me see your track record. You should be a million right
It doesn't quite work like that, not only will a large portion of that be taxable at the end of each year, but also it is not as easy to turn 18-> 24 mil (+30%) in a year as it is turn 100K->130K (+30%) in a year.
  • #77
  • Dec 19, 2011 10:08am Dec 19, 2011 10:08am
Lol, I can't tell if erock is trolling or what?

Quite simply... coming from futures or equities, your strategies and methods may not work.
This is an entirely different market with different characteristics.
(non-centralized, liquidity, leverage, all different)

I, too, thought I could step into it from an equities background and make profits right away...
it's been about two years, and I'm still defining my "edge".

It is also the larget marketplace in the world... entire nations, corporations, hedge funds, etc.
They all participate in the currency markets. (so no, the FX markets don't "suck")

While the large percentage of small "retail" traders do blow up, mostly because of high leverage...
you cannot argue the fact that probably 95% of online stock traders
(like the ETrade, and Schwab dabblers) lose money over time also.

Quoting erock
Look at the big dogs, Steve Cohen, Paulson, Soros, Arnold. These guys don't mess around with FX -- they know it sucks and there's no value to it. Yeah there's tons of leverage but they don't need leverage.
As for Paulson, lol! he doesn't need FX leverage to blow up... his flagship fund is down 46% YTD I believe.

And of course, you are incorrect about Soros.

As for "big dogs" making money in the currency markets (at least started in FX and then later diversified)...
Bruce Kovner and Bill Lipschutz are two of the most respected currency trading names in the U.S.

Unfortunately, as much as it may hurt your ego erock... you simply don't know what you are doing in the forex marketplace.
  • #78
  • Dec 19, 2011 11:34am Dec 19, 2011 11:34am
Quoting erock
To make a 30% return year in and year for 30 years is unbelievable. Nobody expect George Soros can do it.

Anyone on this site that says they consistently make 30% returns year in and year out is full of shit.
Whats the big deal about George Soros? Do you live your life by the principals that limit you to what GS can do. He will be dead someday!

Never compare a retail traders potential of making %returns to a Fund's. They have different investment scope's, different time frames, use different tools and most of all Funds are bound by the problem of liquidity that a retail trader is not.

30% a year?

"Personally" I rather go find a job than bother with FX for that!!!

I know...next you are going ask me for account statements and all. ohhh your so fulla shit.
.
  • #79
  • Dec 19, 2011 11:38am Dec 19, 2011 11:38am
Quoting rooicol
It doesn't quite work like that, not only will a large portion of that be taxable at the end of each year, but also it is not as easy to turn 18-> 24 mil (+30%) in a year as it is turn 100K->130K (+30%) in a year.
That's on 200% not on 30%. Trade it through an IRA to avoid tax
  • #80
  • Dec 19, 2011 11:43am Dec 19, 2011 11:43am
Quoting nasir.khan
Whats the big deal about George Soros? Do you live your life by the principals that limit you to what GS can do. He will be dead someday!

30% a year?

"Personally" I rather go find a job than bother with FX for that!!!

I know...next you are going ask me for account statements and all. ohhh your so fulla shit.
.
You need to average down as you scale up.

If I was trading a $100 account, then I would want to make 1200% a year.

That's easy. No FIFO rules, not sweating buyers, just play in an MM sandbox and hit your numbers feeling like anything is possible.
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