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Why are most Forex Authors not active Traders?

  • #41
  • Mar 16, 2013 6:24am Mar 16, 2013 6:24am
Quoting hanover
The whole post is worth a read, IMO.
Thanks for linking to that post. At some point in the past I'd come across it but it's nice to read it again and in some ways you can relate much better after having been through the wringer yourself. For the most part it's spot on I think but I really do take issue with that "800" figure....seems to be incredibly low given I know at least a few people even on this forum who claim to be profitable, and from my own evaluation I believe them to be genuine.
  • #42
  • Mar 16, 2013 1:18pm Mar 16, 2013 1:18pm
LOL

It's ALWAYS eaiser to talk or in this case, write about something than actually doing it.
Make your losses in demo. Earn your profits live.
  • #43
  • Mar 17, 2013 4:21am Mar 17, 2013 4:21am
Quoting Kanzler
I've had to ask myself this question many times. In fact, every time I read a post by a proponent of some strategy or system I always try to figure out their motivation. In this kind of environment, you just have to, otherwise you fall prey to in what is the best case deceptive marketing and at worst straight up fraud. When there's a fee involved I automatically lose a lot of respect for someone's advice, as the old argument stands - if they were so good at trading, why would they want to sell me something? That even goes for widely respected users...
I am doing it for helping ppl and to see people's joy, of course, in the real world, nothing is free.
If i make 100$ a hour, why shouldn't I charge you 80$ per hour to train you while you could be losing 200$ or more per hour trading yourself?

I do not see anything wrong with that, yeah?
More than a hobby. Never a game. US Client at 1:50.
  • #44
  • Mar 17, 2013 4:37am Mar 17, 2013 4:37am
This is like asking your science teacher from middle school why isn't he building a rocket if he is so good and knowing what is 1 + 1 = 2, yeah?

But rocket scientist know what equals 1+1.
More than a hobby. Never a game. US Client at 1:50.
  • #45
  • Mar 17, 2013 5:56am Mar 17, 2013 5:56am
Quoting Chi
This is like asking your science teacher from middle school why isn't he building a rocket if he is so good and knowing what is 1 + 1 = 2, yeah?

But rocket scientist know what equals 1+1.
This is another fallacy.
Various analogies have been found that attempts to explain the reason for buying some training that will teach the forex space cadet to be successful.
Trading has absolutely nothing to do with "rocket science", or medicine, or engineering and so on..
Yes, if you want to be a doctor you have to spent tons of money on education. Why? because the barrier to entry is very high AND the material is based on scientific, proven facts, so it is expensive because IT WORKS.
Trading has a very low barrier to entry AND is based on suggestive, non-proven, arbitrary and non-repeatable results.
Gambling is not Engineering.
So what the aspiring trader should spend on his/her trading education should equal the expected result ==> Zero.
  • #46
  • Mar 17, 2013 1:02pm Mar 17, 2013 1:02pm
Quoting Mingary
So what the aspiring trader should spend on his/her trading education should equal the expected result ==> Zero.
By that argument most aspiring traders should be the ones being paid. The expected result for the vast majority of traders is certainly not zero.
  • #47
  • Mar 17, 2013 2:59pm Mar 17, 2013 2:59pm
Quoting Kanzler
By that argument most aspiring traders should be the ones being paid. The expected result for the vast majority of traders is certainly not zero.
No, it means spend nothing on training because you will get nothing in return.
  • #48
  • Mar 17, 2013 4:16pm Mar 17, 2013 4:16pm
Quoting Mingary
No, it means spend nothing on training because you will get nothing in return.
I've read a number of your posts, e.g.

"Long term, no one wins." (here)

"In reality. 0.4 % winners = dumb luck" (here)

"Sooner or later yes. No one gets out (financially) alive." (here)

"Keeping a journal is yet another fallacy that it can turn a losing trader into a winning trader." (here)

"Is it Possible to Make Money in Forex Market? Short term: Yes. Long term: No." (here)

From posts like these, I've gotten the impression that you believe that it's impossible to trade profitably in the long term. That predilection will naturally lead you to the conclusion that all training is a waste of money.

Feel welcome to correct me if I've misunderstood, or if you've changed your mind since making these posts. I don't want to misrepresent you.
  • #49
  • Mar 17, 2013 4:23pm Mar 17, 2013 4:23pm
Quoting hanover
I've read a number of your posts, e.g.

"Long term, no one wins." (here)

"In reality. 0.4 % winners = dumb luck" (here)

"Sooner or later yes. No one gets out (financially) alive." (here)

"[i]Keeping a journal is yet another fallacy that it can turn a losing trader into a winning...
He claims to not feel this way but I've always had the same impression. He even has a mock journal "in pursuit of the margin call". Debbie Downer if I've ever seen one.

Quoting Mingary
No, it means spend nothing on training because you will get nothing in return.
I think you misunderstood my post, but I don't really care anyway.
  • #50
  • Mar 18, 2013 2:22am Mar 18, 2013 2:22am
Quoting Kanzler
He claims to not feel this way but I've always had the same impression. He even has a mock journal "in pursuit of the margin call". Debbie Downer if I've ever seen one.


I think you misunderstood my post, but I don't really care anyway.

==> @ Hanover, Yes all training is a waste of money.


==> @ Kanzler, I understood your post. The operative words are: SPEND NOTHING on training. Note that this web site is a marketing tool to direct the gullible to paid services.
Not a mock journal. It's real. One day I will get that Margin Call .. and beyond ... as I sink deeper and deeper like everyoe else (lose job, house, family to the forex), do you think I am really different than anyone else working very hard on being profitable? Not sure if you are a native english speaker, there is a saying in english: "Where the rubber meets the road", look it up. My problem right now is that the account is up... I am sure I can change that.
  • #51
  • Mar 18, 2013 2:51am Mar 18, 2013 2:51am
Quoting Mingary
==> @ Hanover, Yes all training is a waste of money.


==> @ Kanzler, I understood your post. The operative words are: SPEND NOTHING on training. Note that this web site is a marketing tool to direct the gullible to paid services.
Not a mock journal. It's real. One day I will get that Margin Call .. and beyond ... as I sink deeper and deeper like everyoe else (lose job, house, family to the forex), do you think I am really different than anyone else working very hard on being profitable? Not sure if you are a native english speaker, there is...
go to the casino if that's your attitude. stop fucking around and just get to the end result sooner rather than later. save yourself all the drama in the middle and go bust-out in style, or walk away as one of the lucky few who quits while they are ahead when they have a lucky night out on the town at the casino.

it's like someone studying to be a chef so they can expect to cook shitty food and make no money, or an art student hoping to some day make truly terrible sculptures that everyone mocks.

http://riotandfrolic.typepad.com/.a/...5b15970d-800wi
Congratulations ScalaFX for coming out of the closet!
  • #52
  • Mar 18, 2013 3:25am Mar 18, 2013 3:25am
Quoting nubcake
go to the casino if that's your attitude. stop fucking around and just get to the end result sooner rather than later. save yourself all the drama in the middle and go bust-out in style, or walk away as one of the lucky few who quits while they are ahead when they have a lucky night out on the town at the casino.

it's like someone studying to be a chef so they can expect to cook shitty food and make no money, or an art student hoping to some day make truly terrible sculptures that everyone mocks.

http://riotandfrolic.typepad.com/.a/...5b15970d-800wi...
My "art" is a demanding and high maintenance bitch; she won't let me quit.
  • #53
  • Mar 18, 2013 5:04am Mar 18, 2013 5:04am
Quoting Mingary
==> @ Hanover, Yes all training is a waste of money.
I'm not necessarily disagreeing with you, but how would you go about proving such a statement? You'd need to have an omniscient view.

Anyway, you didn't really answer my question, which is:
Do you think it's possible for anybody to be career profitable at trading, or do you think that those who are profitable are merely lucky?
  • #54
  • Mar 18, 2013 5:14am Mar 18, 2013 5:14am
Quoting hanover
Do you think it's possible for anybody to be career profitable at trading, or do you think that those who are profitable are merely lucky?
This is obvious that profitable traders (in the long term) aren't profitable by luck ...
MT4/MT5 EAs/Indicators/Alerts coder
  • #55
  • Mar 18, 2013 5:33am Mar 18, 2013 5:33am
From my own experiences (lol) and from all the stuff I´ve read on the internet I´ve come to the conclusion that your chances at succeeding in retail daytrading are indeed so very very slim, that you could say it´s practically impossible. Now, if somebody here confronted my though and told me he was a profitable daytrader I wouldn´t know what to say to him except "Well done". I won´t argue against that. Long-term trading, based on sound economical judgement is a completely different animal though. At least I hope so, because this is what I´m trying to learn at the moment.
  • #56
  • Mar 18, 2013 6:04am Mar 18, 2013 6:04am
Quoting FerruFx
This is obvious that profitable traders (in the long term) aren't profitable by luck ...
One way to look at it is this - if 90% of traders are utter failures and bankrupt their accounts, where is all that money going? To a black hole in the Reuters trading platform? To lucky noobs on forexfactory who quit while they're ahead? Ben Bernanke?
  • #57
  • Mar 23, 2013 8:51pm Mar 23, 2013 8:51pm
Quoting Mingary
==> @ Hanover, Yes all training is a waste of money.


==> @ Kanzler, I understood your post. The operative words are: SPEND NOTHING on training. Note that this web site is a marketing tool to direct the gullible to paid services.
Not a mock journal. It's real. One day I will get that Margin Call .. and beyond ... as I sink deeper and deeper like everyoe else (lose job, house, family to the forex), do you think I am really different than anyone else working very hard on being profitable? Not sure if you are a native english speaker, there is a...
Mingary a few questions... Why do you think some people are posting here since years??...

You say they are not profitable traders long term and they are just looking for clients to sell them somethign else?..

Maybe it would be good a thread or anonymous poll asking: "Could you do a living off forex for the part 5 years?"...

And we can see if people really make a living off forex or not.

Of course its up to anyone to answer or not, its their choice after all, but it will show the truth.

When I see some people here posting since years and spending at least 8 hours per day here, Im sure they must be profitable traders, there is no other chance. Yet, according to numbers, something doesn't fit here.
The Black Swan: The Impact of the Highly Improbable
  • #58
  • Mar 23, 2013 10:54pm Mar 23, 2013 10:54pm
Quoting Mingary
This is another fallacy.
Various analogies have been found that attempts to explain the reason for buying some training that will teach the forex space cadet to be successful.
Trading has absolutely nothing to do with "rocket science", or medicine, or engineering and so on..
Yes, if you want to be a doctor you have to spent tons of money on education. Why? because the barrier to entry is very high AND the material is based on scientific, proven facts, so it is expensive because IT WORKS.
Trading has a very low barrier to entry AND is based on...

I have to agree. I never understand why some people in FOREX say: "well, if a doctor spends 10 years in university, then you should spend 10 years learning forex"...

Every time I read that, I think that they are FULL of BULLS..T... for the simple fact that a Doctor gets a degree and has a guarantee that he will make money, while a FX trader has no quarantee.. the trader can even spend 20 years in trying to learn, and he will have no guarantee, that he will make money in the end, because like you say, Trading is based on suggestive, non-proven, arbitrary and non-repeatable results.

Now the big question is, who really makes money in FOREX? I guess a lot of people make money, but doing what? Trading long term?? OR selling lessons, programming, managing platforms, running sites like zulutrade, chilling in the forums to sell something, driving traffic to their Blogs and banners as affiliate webmasters?.. etc etc..

What do you think Mingary?
The Black Swan: The Impact of the Highly Improbable
  • #59
  • Mar 23, 2013 11:08pm Mar 23, 2013 11:08pm
[quote=MapleLeaf;6541209]I have to agree. I never understand why some people in FOREX say: "well, if a doctor spends 10 years in university, then you should spend 10 years learning forex"...


hello, regarding the above, My 9 year old girl trades and she has over 90% win rate and that i believe is with over 40 trades over approx 12 months. i couldn't trade like her as i trade most days and i think she wins because of the intermittent trades she does. As for book writing,,, it is easier and profitable to write trading books than to actually trade its a bit like slimming books, they are a big winner. As for my girl she trades a simple cross over using the 20 and 2 day ema. lol, too easy. be good
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #60
  • Mar 23, 2013 11:58pm Mar 23, 2013 11:58pm
Quoting MapleLeaf
I have to agree. I never understand why some people in FOREX say: "well, if a doctor spends 10 years in university, then you should spend 10 years learning forex"...

Every time I read that, I think that they are FULL of BULLS..T... for the simple fact that a Doctor gets a degree and has a guarantee that he will make money, while a FX trader has no quarantee.. the trader can even spend 20 years in trying to learn, and he will have no guarantee, that he will make money in the end, because like you say, Trading is based on suggestive, non-proven,...
What gives you the idea that doctors are guaranteed to make money?
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