Why are most Forex Authors not active Traders?

I was to post the same question !

Ovbiously some doctors go bankrupt. However, on average doctors make a living at their profession but traders don't.
It appears that this whole "industry of trading", the trading world survives on the pursuit of money alone, enormous amounts are spent to get there but nothing is gained at the end - except for example the brokerage firm will have added 5 floors to their sky scrapper.
It is in effect a huge twirly-whirly downward spiral that feeds the industry (and that is good news because it provides employments) but the money flows from the traders to the industry. Finally, in order for this comedy to continue it is obvious that some traders have to win.

[quote=Mingary;6541363]Ovbiously some doctors go bankrupt. However, on average doctors make a living at their profession but traders don't.

i think the response was said tongue in cheek as we say in the uk. Doctors train hard to excel and traders should learn something too. But a lot of people in these sorts of threads will never be traders as they have negative attitude and too pessimistic and they would prefer to talk about what the big money players had for breakfast rather than shutting up and setting triggers. you do not actually have to be too bright to trade just consistent and stick to the simple plan, be good

the biggest waste of time on ff is reading what mingary has to say. basically he actually had a conversation with the god of trading and now he is sharing his knowledge. he's mission on ff is the mission of a jesus of trading. he actually has seen all the information all the facts all the mysticism all the results all the science of every market participant since the beginning of markets and until the end of them because of course he spoke to god himself.
mingary is not a regular on ff he's the biggest idiot on this forum.
let me explain . an idiot is a person that wants to be a millionaire and also wants to get there with the same scientific rigurosity that humanity build nuclear power plants. i suspect he is also lazy ...to lazy to think for himself . he wants an academy of nuclear trading build on solid science that he can learn effortly and succede with no input from his part. number one rule in trading when you discover something that works is to shut up and that is why academia will never teach successful trading.

I won't even try to go there... but thanks for the laugh.

One of the problems that many new traders and some experienced traders as well have is their desire to buy, ready-made and off the shelf, a turnkey solution. That is, they want to buy someone else's system and just implement it and make money without working too hard. If it were that easy computers would have replaced fund managers and traders, no one would work and everyone would trade. But these nicely packaged solutions are real money spinners. That is why they will be pumped out, year after year. Different format, different cover, same message. "It’s easy, just buying me; I'll show you how to make your first million." Killer strategy for forex, another killer strategy for stocks, commodity trading robot, sounds familiar? IF A STRATGEY DOESN’T WORK ON ALL INSTRUMENTS IT’S NOT A STRATGEY.



…the average man doesn't wish to be told that it is a bull or bear market. What he desires is to be told specifically which particular stock to buy or sell. He wants to get something for nothing. He does not wish to work. He doesn't even wish to have to think. It is too much bother to have to count the money that he picks up from the ground.
... Jesse Livermore


Professional successful traders don’t have any magic indicator. There is no Holy Grail. They never chase the market. They use simple strategy to put the odds in their favour before they enter a trade. They make their strategy as objective as possible and include the following elements:

•Entry: conditions required before they enter a trade - may include technical analysis, fundamental analysis, or both.
•Initial stop loss: price at which they will take loss if the trade doesn’t go in their favour.
•Initial price target: price at which they will take profit if the trade goes in their favour.