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  • #81
  • Aug 10, 2012 1:15am Aug 10, 2012 1:15am
Quoting Marv
Here's one simple counterargument: Given the number of market participants and the amount and frequency of speculative market activity, it is statistically impossible that nobody is making significant and consistent returns from trading.
certainly not statisically impossible. for example, you have to consider that every fx broker in the world puts on a dog and pony show every month to get fresh canon fodder; new accounts to replace the losing ones.


Quoting hanover
However, it is hard to make a case for "winning traders are merely lucky" when there are folk who have been making a consistent living at it, year after year. As Gary Player (the great South African golfer) once said, "the more I practise, the luckier I get". My experience is that this applies equally well to trading.
Lucky? why not. It's a simple distribution curve. You will have extreme winners and extreme losers, all based on luck. And yes you can be lucky for 40 years (the poster boys of the industry). for the second part, practise makes perfect, yes. The more you practise to bake the prefect cake the better the cake.
The more you practise a random outcome activity (trading).. results will be random...
  • #82
  • Aug 10, 2012 1:46am Aug 10, 2012 1:46am
Quoting hayseed
//----

hey trickshady........ my guess would be your guess is probably accurate.....

there will always be those that doubt the success of others..... they waste valuable time trying to prove those doubts rather than improve their own success....

someone asked for proof..... here it is , verified beyond any doubt......h
Its been since 2010 and this guy is disciplined and he is having a steady growth , this is encouraging .
  • #83
  • Aug 10, 2012 1:51am Aug 10, 2012 1:51am
i have read some news articles about self-made millionaires from stock/forex trading.. and coincidentally my colleague is into it for a year, he kinda introduced it to me since i'm trading stock...

started forex for 3months, and i'm in the reds... good news is i have stablized my strategy and recovering my loss steadily.. hopefully one day i would be living like PoundTrader, but with no guys taking my money =D
  • #84
  • Aug 10, 2012 1:55am Aug 10, 2012 1:55am
Quoting Mingary
certainly not statisically impossible. for example, you have to consider that every fx broker in the world puts on a dog and pony show every month to get fresh canon fodder; new accounts to replace the losing ones.




Lucky? why not. It's a simple distribution curve. You will have extreme winners and extreme losers, all based on luck. And yes you can be lucky for 40 years (the poster boys of the industry). for the second part, practise makes perfect, yes. The more you practise to bake the prefect cake the better the cake.
The more you...
Oh Mingary, nice to see you here

Look out for my statements, just an average Joe with a Fulltime job slaying the market
Come with me if you want to live....
  • #85
  • Aug 10, 2012 3:36am Aug 10, 2012 3:36am
Quoting Mingary
Lucky? why not. It's a simple distribution curve. You will have extreme winners and extreme losers, all based on luck. And yes you can be lucky for 40 years (the poster boys of the industry)........ The more you practise a random outcome activity (trading).. results will be random...
You can believe that if you want to. What anybody else believes doesn't affect my bottom line.

Again, please excuse my conceit, but I have to wonder why naysayers waste their time posting on forums like this. If they're convinced that profitable forex is impossible, then there's nothing for them to learn here. And if they think that they can persuade those who are successful that their results are mere luck, well, I'm afraid the latter will simply ignore them, smile quietly to themselves, and continue banking their profits for as long as they're able.

To those who've insisted on proof (e.g. Trade Explorer), well, IMO that's more than a little audacious. If I was to post my results, what's in it for me? Exposing myself to public scrutiny will only create a new type of pressure, and possibly unwanted e-mails asking me to share my strategy. I'm not selling my system; I don't feel the need to prove anything to anybody else. People can (and no doubt will) infer whatever they like from my stance, but why should that bother me? And if they want to go on believing that profitable forex is impossible until they see proof otherwise, why should that be my problem?

Why do casinos win, over time? Although the games that they offer are ostensibly random, and punters can get lucky in the short term, the house edge ultimately prevails.

Hence the trading argument ultimately resolves itself down to the same question: is price movement a completely random walk? If the answer is no, then there are inequities that are potentially exploitable. Then it becomes a test of expertise and temperament: i.e. who is smart enough to find them, devise a suitable system, and maintain the discipline and composure needed to implement it.
  • #86
  • Aug 10, 2012 5:09am Aug 10, 2012 5:09am
Quoting hanover
LOL. Sorry to disappoint you, but I'm a programmer, not a br0ker.

I'm a commercial member because I have one product in the commercial forum. It's against the rules to post a link here, but you can find it easily enough if you want to. It's a visual order management system, and trade manager, for MT4. (As opposed to those dodgy $97 EAs that will bleed your account). Just like all other software products, if you see value in it, you can choose to buy it; if you think it's junk, you spend your money elsewhere.

Now may I ask you a question? If...
they're hanging arround probably someone would drop the holy grail on their laps one of these days.
The only way not to think about money is to have a great deal of it
  • #87
  • Aug 10, 2012 5:14am Aug 10, 2012 5:14am
Quoting PoundTrader
i make enough to live a nice life, i no longer have problems with forex taking my money but i do have problems with women taking my money
All you clueless critics, this is one person that makes consistent profits from the markets. and trades a 6 figure account with citifxpro.
The only way not to think about money is to have a great deal of it
  • #88
  • Aug 10, 2012 6:46am Aug 10, 2012 6:46am
Quoting PoundTrader
i make enough to live a nice life, i no longer have problems with forex taking my money but i do have problems with women taking my money
you have jack shit man . Those who are good are not afraid to show it , check Usain Bolt , Mohammed Ali etc , why would you hide the good , it's normal to hid ethe bad , but the god .mm , I just don't this so.Prove it like
http://www.forexfactory.com/webjeff#81-list+pg9.
  • #89
  • Aug 10, 2012 6:48am Aug 10, 2012 6:48am
Quoting hanover
You can believe that if you want to. What anybody else believes doesn't affect my bottom line..........

To those who've insisted on proof (e.g. Trade Explorer), well, IMO that's more than a little audacious. If I was to post my results, what's in it for me? Exposing myself to public scrutiny will only create a new type of pressure, and possibly unwanted e-mails asking me to share my strategy. I'm not selling my system; I don't feel the need to prove anything to anybody else. People can (and no doubt will) infer whatever they like from my stance,...
These kind of responses make me laugh .
But then , I guess that's why we have these forums otherwise we would just get depressed and jump off the roofs after losing our hard earned money on these bloody charts.
  • #90
  • Aug 10, 2012 8:31am Aug 10, 2012 8:31am
Quoting tafadzwa02
you have jack shit man . Those who are good are not afraid to show it , check Usain Bolt , Mohammed Ali etc , why would you hide the good , it's normal to hid ethe bad , but the god .mm , I just don't this so.Prove it like
http://www.forexfactory.com/webjeff#81-list+pg9.
He should start pasting his trades on a f..k..g explorer to prove what point? and to who?. He's not selling any stupid EA program niether is he looking for any micro accounts.

All you newbies, dont be discouraged by what some frustrated traders who are too lazy to do the hard work and are always jumping from one EA to another are saying here.

Forex trading is the most lucrative business on earth, but the money is not on a tree where you just stroll by and pluck, youll have to put in years of hard work, sweat and blood and a whole lot of determination. Stay away from silly EA's and signals being peddled cause they're all jackshit!!! Move to trading on the higher time frames.
The only way not to think about money is to have a great deal of it
  • #91
  • Aug 10, 2012 10:03am Aug 10, 2012 10:03am
Quoting Makavelli7
He should start pasting his trades on a f..k..g explorer to prove what point? and to who?. He's not selling any stupid EA program niether is he looking for any micro accounts.

All you newbies, dont be discouraged by what some frustrated traders who are too lazy to do the hard work and are always jumping from one EA to another are saying here.

Forex trading is the most lucrative business on earth, but the money is not on a tree where you just stroll by and pluck, youll have to put in years of hard work, sweat and blood and a whole lot of...
Makavelli7, just let them wallow in their misery. Some people have such big egos and/or are so small-minded that they actually believe if they're not capable of doing something then no one else is, either.

But yeah, to the newbies: ignore them. Pro-active people succeed, period. People who want things handed to them, who are looking for excuses, who want to blame others for their failures and inadequacies, fail, period. It took me 3-1/2 years to turn the corner; it takes others 18-24 months and some 5, 6 and even 8 or 10 years to do it. It comes down to talent and hard work, like everything else in life.
  • #92
  • Aug 10, 2012 10:04am Aug 10, 2012 10:04am
Quoting Makavelli7
Forex trading is the most lucrative business on earth
ROFL
Good try, but it's quite obvious that's not the case. Props for the effort nonetheless!

Check this out. I don't have time to go through all the pages, but if you find anybody from the top billionaires in the world who is trading forex for a living then post it here. Still won't make it the most lucrative business, since on first page none of the people do forex.
http://www.forbes.com/billionaires/#..._All%20states_

And as always, have a nice day!
  • #93
  • Aug 10, 2012 10:12am Aug 10, 2012 10:12am
Quoting Rob Mondave
Makavelli7, just let them wallow in their misery. Some people have such big egos and/or are so small-minded that they actually believe if they're not capable of doing something then no one else is, either.
Pretty much.
  • #94
  • Aug 10, 2012 11:48am Aug 10, 2012 11:48am
Quoting Makavelli7
Stay away from silly EA's and signals being peddled cause they're all jackshit!!! Move to trading on the higher time frames.
Truth~

Also note that you can easily make a credible-looking EA yourself by combining some indicators that give nice some signals throughout the week. Also note how many people are willing to pay for it (and how much). Then keep stressing the possible potential maximum profit and people will flock to your EA. That's pretty much how to make money with an EA.
  • #95
  • Aug 10, 2012 2:42pm Aug 10, 2012 2:42pm
I'd imagine it must be VERY FRUSTRATING to trade forex believing it is totally random like gambling, so let's have a little understanding for these totally clueless cynics and their negative attitude eh
Come with me if you want to live....
  • #96
  • Aug 10, 2012 10:21pm Aug 10, 2012 10:21pm
As a beginner, I can only admire those having steady income from fx market. I started last year and i'm still on a demo account. I find it so difficult to have regular returns given the fact that you have to be always on alert concerning news affecting the pairs you are trading , plus you have to create, test and improve a strategy knowing that your hypothetical results don't guarantee future gains and finally deal with all the shitty tricks of your broker like the most loved one: stop hunting
  • #97
  • Aug 11, 2012 1:32am Aug 11, 2012 1:32am
Yes, pretty much random:

http://www.amazon.co.uk/Fooled-Rando.../dp/159659201X

Long term successful trading is like the weather, everybody talks about it but no one can do anything about it.
There is a stong argument for the fact that human beings are prone to mistake dumb luck for consummate skill.
  • #98
  • Aug 11, 2012 3:14am Aug 11, 2012 3:14am
Quoting Mingary
Yes, pretty much random:

http://www.amazon.co.uk/Fooled-Rando.../dp/159659201X

Long term successful trading is like the weather, everybody talks about it but no one can do anything about it.
There is a stong argument for the fact that human beings are prone to mistake dumb luck for consummate skill.
Anyone can put words on a page Mingary, hell I've even done it myself (I went to school). Doesn't mean it's true.

The fact that there are people willing to part with 30 pounds to buy a book they already know is going to tell them they simply can't win in the markets, only shows how many idiots there are in this world

When it comes to trading, numbers obviously speak much louder than words.

Keep an eye out for my statements Mingary and we'll see who turns green
Come with me if you want to live....
  • #99
  • Aug 11, 2012 3:50am Aug 11, 2012 3:50am
If no one can make profit retail trading fx, why does this website, and others, have so many members?
  • #100
  • Aug 11, 2012 4:54am Aug 11, 2012 4:54am
Quoting GDR3k
If no one can make profit retail trading fx, why does this website, and others, have so many members?
not sure if that is correlated. Just because a site has lots of members has nothing to say on the members' profitability.

However, in general I agree that you can trade the fx market profitably.
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