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Forex = legal scam

  • #21
  • Edited 8:13am Sep 22, 2012 4:09am | Edited 8:13am
Quoting pinkiaiii
Ive been trading for +2 years now,and i can only say that forex is most manipulated legal scam there is going.I have seen my share of events in forex that many would scratch their heads,but recent event where crude oil dropped more then 11$ in 5 days time beats everything in market manipulation,and no i didn't trade crude or brent when this happened.I keep coming to forex with different attitudes ,strategies,but at the end its the central banks and government who decide which direction euro goes,what devalues,and what gains,over to years i made...
I remember reading one of your posts months back basically saying the same thing and that its impossible to be profitable in the FX market, also that you wouldn't be posting here again.

That aside, this game is not for everyone, there are a million and one ways to trade, but for me, having an idea of an area of price where the price will most probably change direction is the biggest factor on the charts, you're right its not us who determine the direction of the market, but having an idea where the big money orders will be is a massive advantage and allows you to get in at the start of a move. Then theres patience, waiting for the price to hit an area you believe it'll change direction, waiting for price action to do its dance and boom, enter.
  • #22
  • Sep 22, 2012 4:54am Sep 22, 2012 4:54am
Quoting pinkiaiii
Ive been trading for +2 years now,and i can only say that forex is most manipulated legal scam there is going.
hahaha. what a joke. this must be the stupidest argument for explaining a failure. let's suppose for a sec that the markets are manipulated. what's stoping you to take advantage of that? but no, if you failed then nobody else can do it. you want to make it sure that if you go down you take some other people with you once again just to cover up your failure. no, it's not you to blame... somebody else is. idiot.
  • #23
  • Sep 22, 2012 8:07am Sep 22, 2012 8:07am
I don't think it's necessary to call people names the forex market like any other market is hard. It's a battle that is fought everyday to make profits.

A lot of people come to forex with the expectation it is easy. It's a lonely place and after awhile very easy to get over-whelmed psychologically... especially when nothing is going right.

If you haven't had these thoughts of the 'world is against you' you haven't lived long enough, just because someone is at an exasperation moment doesn't make them any less of a human.

Time heals wounds. Money, while important can be remade... it's only money.

I've often looked at Forex as the legal way to rob a bank, because somewhere down the line this is who you're trading against... but over time I've learned that I am merely hoping on their back and robbing you and others that come along.

Why fight with the butcher when you can just fight with a dumb unarmed cow?

Choose your battles carefully.....
  • #24
  • Sep 24, 2012 6:33am Sep 24, 2012 6:33am
Those "I couldn't become profitable...ergo no one can" threads are getting old, no offence
  • #25
  • Sep 24, 2012 11:56am Sep 24, 2012 11:56am
Quoting pinkiaiii
Ive been trading for +2 years now,and i can only say that forex is most manipulated legal scam there is going.I have seen my share of events in forex that many would scratch their heads,but recent event where crude oil dropped more then 11$ in 5 days time beats everything in market manipulation,and no i didn't trade crude or brent when this happened.I keep coming to forex with different attitudes ,strategies,but at the end its the central banks and government who decide which direction euro goes,what devalues,and what gains,over to years i made...
Hello,
everything depends from a good broker, there is only few good brokers on Forex Market for example Alpari, Dukascopy.
Finding honest broker and obtaining profiting system is the hardest part, not everyone can do it. You need a lot of luck or finding someone who has this luck and experience and trying to follow his steps.
  • #26
  • Sep 24, 2012 12:13pm Sep 24, 2012 12:13pm
Quoting pinkiaiii
Ive been trading for +2 years now,and i can only say that forex is most manipulated legal scam there is going.I have seen my share of events in forex that many would scratch their heads,but recent event where crude oil dropped more then 11$ in 5 days time beats everything in market manipulation,and no i didn't trade crude or brent when this happened.I keep coming to forex with different attitudes ,strategies,but at the end its the central banks and government who decide which direction euro goes,what devalues,and what gains,over to years i made...
Hello I am new to the forum, and I've read your message and I will take this time to introduce myself to the community and post some very relevant information to the topic.

I was born in 1972 in New Hampshire when my parents moved to USA in 1968. I moved 2 years ago to Chile and I took my savings that were significant enough to buy a house, land, and fund a trading account. I placed over 100,000 usd into my trading account which is the minimum imaginable to begin trading forex and I have concluded this that the minimum trade size for those central banks and big market players you speak of is in fact 100,000 usd. My account fluctuates 1-2% per day and on a month will increase by 10%. This sum is and has been excellent for my lifestyle in addition to increasing the account balance of my trading account continuously.

pinkaiii, I address this to you and each forum member or outside individual who reads this post that you must first establish your lifestyle, support your lifestyle, and begin with the minimum amount necessary which is not what a broker will accept i.e. 5 usd to open an account!.
  • #27
  • Sep 24, 2012 1:34pm Sep 24, 2012 1:34pm
Quoting bRobby
_
thanks for sharing!
  • #28
  • Sep 25, 2012 5:17am Sep 25, 2012 5:17am
It's not the market. It's not the economic climate. It's not the broker. It's not the spread. It's not slippage.
It's not the platform. It's not the method.

It's YOU.

Once you are willing to face up to that, you have basis to start winning.
  • #29
  • Sep 25, 2012 9:04am Sep 25, 2012 9:04am
Quoting ATrader1
It's not the market. It's not the economic climate. It's not the broker. It's not the spread. It's not slippage.
It's not the platform. It's not the method.

It's YOU.

Once you are willing to face up to that, you have basis to start winning.
2 posts...yet wise advice

Too many people get angry because the market isn't doing what they want it to do. Fact is, the market will do whatever the hell it wants...it's like an elephant...and you are an ant. Trying to move the elephant as an ant is ridiculous! Now you can climb up a tree as an ant and hop onto the elephant as it passes by, and get a nice ride in the process...but in the end, the elephant decides where he's going.

To anyone who thinks you can't beat the market because you personally can't...read "Hedge Fund Market Wizards", one of the BEST trading books I ever read, if not the best. It also presents dozens of examples for how the guys who beat the market think about it.
  • #30
  • Sep 25, 2012 9:22am Sep 25, 2012 9:22am
Some of you people need to get over your territorial little egos.

So what if I have two posts at this point? I'm by no means new to trading.

Some people spend a lot of time commenting on forums and it is difficult to believe they are succesfully trading seeing all the time and energy they put on them as opposed to the charts.

Reminds me again why I rarely even visit these things.

Thanks for your "support"

Meh.



Quoting 4exNinja
2 posts...yet wise advice

Too many people get angry because the market isn't doing what they want it to do. Fact is, the market will do whatever the hell it wants...it's like an elephant...and you are an ant. Trying to move the elephant as an ant is ridiculous! Now you can climb up a tree as an ant and hop onto the elephant as it passes by, and get a nice ride in the process...but in the end, the elephant decides where he's going.

To anyone who thinks you can't beat the market because you personally can't...read "Hedge Fund Market Wizards",...
  • #31
  • Sep 25, 2012 12:02pm Sep 25, 2012 12:02pm
Quoting bRobby
Hello I am new to the forum, and I've read your message and I will take this time to introduce myself to the community and post some very relevant information to the topic.

I was born in 1972 in New Hampshire when my parents moved to USA in 1968. I moved 2 years ago to Chile and I took my savings that were significant enough to buy a house, land, and fund a trading account. I placed over 100,000 usd into my trading account which is the minimum imaginable to begin trading forex and I have concluded this that the minimum trade size for those central...

Hi BRobby.
Out of the thread topic.
How do you find Chile regarding Internet and the tech part of trading From There. I moved to the USA in 1978, and now in Europe since 2007.
I am seriously considering to buy land in the country side (Central-to south) and stay there most of the time, or at least the Euro winter.

When I visit I usually ck my vps and other skype phone stuff, and I do not trade much. But I have notice that is a bit slow. What is your Experience?

Also, I think that is a good place to be if some major worldwide crap happens.

You can PM is you want.

Thanks,
J.
  • #32
  • Sep 25, 2012 12:36pm Sep 25, 2012 12:36pm
Quoting ATrader1
Some of you people need to get over your territorial little egos.

So what if I have two posts at this point? I'm by no means new to trading.

Some people spend a lot of time commenting on forums and it is difficult to believe they are succesfully trading seeing all the time and energy they put on them as opposed to the charts.

Reminds me again why I rarely even visit these things.

Thanks for your "support"

Meh.
It wasn't meant as an attack, calm down
  • #33
  • Sep 28, 2012 8:41am Sep 28, 2012 8:41am
manipulation, mental stress, the broker, the market, the news, the wars around the world. well let it be anything and everything, the bottom line is how you see it and make the best of it. we all entered a risky battle field in the first place and anything can happen.
  • #34
  • Sep 28, 2012 8:57am Sep 28, 2012 8:57am
Forex is a high-liquidity type of income. I don't like to wait for profit long. I open one position with the whole volume of deposit as long as margin allows. As a result you earn either all or nothing. It is very good for such strategy if broker gives bonuses. But I heard that many brokers do some dishonest manipulations of various kinds with these bonuses. I'd like to choose
an honest broker. Can anybody tell me where to read such information?
  • #35
  • Sep 30, 2012 2:09pm Sep 30, 2012 2:09pm
Quoting 4exNinja
It wasn't meant as an attack, calm down
No one's attacking you and no one's implying you're new to currency trading. But when you make a generalization, you're bound to get a few comments from the other side..just sayin'
  • #36
  • Oct 2, 2012 1:20pm Oct 2, 2012 1:20pm
I actually do know people who are doing well trading forex. But I can really understand if you want to quit after huge losses...



Quoting pinkiaiii
Ive been trading for +2 years now,and i can only say that forex is most manipulated legal scam there is going.I have seen my share of events in forex that many would scratch their heads,but recent event where crude oil dropped more then 11$ in 5 days time beats everything in market manipulation,and no i didn't trade crude or brent when this happened.I keep coming to forex with different attitudes ,strategies,but at the end its the central banks and government who decide which direction euro goes,what devalues,and what gains,over to years i made...
  • #37
  • Oct 2, 2012 2:05pm Oct 2, 2012 2:05pm
Quoting TheNatural
I actually do know people who are doing well trading forex. But I can really understand if you want to quit after huge losses...
actually i did,best decision so far,anything ill be investing in the future will be something that i will be able to have a hold of,not playing numbers its fun,but in the long run gambling at a casino for few hours gives same results +/- .Peace to those who manage to make living out of it everyday tho.
  • #38
  • Oct 4, 2012 4:51am Oct 4, 2012 4:51am
Quoting jiggz
manipulation, mental stress, the broker, the market, the news, the wars around the world. well let it be anything and everything, the bottom line is how you see it and make the best of it. we all entered a risky battle field in the first place and anything can happen.
Hi, friends. Absolutely agree with you jiggz. But the question is...how to risk and save own money. How to distinguish good offer of cooperation from scam. And choose the right variant. Maybe you have own rules as to it. Could you share?
  • #39
  • Oct 18, 2012 6:10am Oct 18, 2012 6:10am
Forex is not a scam. There is loss in every business. If you get loss in business because of your bad luck you can't say the business scam.
Try to find a trustful broker or if forex is not for you then leave it.
  • #40
  • Feb 18, 2013 4:24am Feb 18, 2013 4:24am
question.

Does it actually matter if it's manipulated or not?

Of course it's manipulated - anything that involves money is manipulated. from beefburgers (read horse) to gold prices.

Does not affect my trading though, just follow the price wherever it's manipulated.
https://linktr.ee/Soultrader
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