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Is forex becoming less popular?

  • #21
  • May 19, 2013 4:31am May 19, 2013 4:31am
Quoting Patience
In September 2012, according to FF, there were 60,249 active members in the last 90 days. In May 2013, according to FF, there have been 44,213 active members in the last 90 days. Sixteen thousand posters have apparently disappeared.
Since this is an English-language forum, and everyone assumes everyone is American, do you think part of the reason is also the clamp down on forex brokers by CFTC/NFA? And the fact that most outside-USA brokers won't take US residents or citizens as clients.
No longer trading forex. Looking for full time job.
  • #22
  • May 19, 2013 4:55am May 19, 2013 4:55am
Quoting pemully
the real question is that after 5years of fx trading will u regret of even hearing the word "fx trading"?
//---

hey pemully.... the real answer to the real question would be, 'no'.....h
to trade and code, keep both simple... no call to impress....h
  • #23
  • May 19, 2013 5:51am May 19, 2013 5:51am
Quoting mmaker
{quote} Since this is an English-language forum, and everyone assumes everyone is American, do you think part of the reason is also the clamp down on forex brokers by CFTC/NFA? And the fact that most outside-USA brokers won't take US residents or citizens as clients.
I don't assume everyone is American. I know far more posters from other countries.

The clamp down on forex brokers by the CFTC/NFA could very well be a reason that not as many American people are participating in this market than might have otherwise. I don't appreciate anyone telling me what to do, least of all a government, so I feel for the American people in this respect. This wouldn't be such a problem if the CFTC/NFA had been doing their job though. Even after the regulations were instigated they still failed to prevent the imploding of PFX Global and MF Global. The CTFC/NFA should be ashamed of themselves. They treat their citizens like dummies unable to do their own due diligence on a forex broker under the guise of "protecting" them then allow two brokerages (that I know of) to spectacularly crash.

The statistics are telling me that the US job market is improving. Much easier to make a latte than to trade forex and you get paid at the end of the week.
Nothing worth having is easy.
  • #24
  • May 19, 2013 5:52am May 19, 2013 5:52am
Quoting hayseed
{quote} //--- hey pemully.... the real answer to the real question would be, 'no'.....h
Indeed Hayseed. It would appear that we are past our "use by" date.
Nothing worth having is easy.
  • #25
  • May 19, 2013 5:55am May 19, 2013 5:55am
My 2 cents. Most people including myself, start out looking for the Holy Grail, Magic Indicator, Perfect EA, and so on. Once you realize, there is no such animal I think is the 1st lesson. How long it takes to get that point is the real question? For me it was several accounts and like wise several years. At some point most people give up and move on, thus 95% failure rate. Learning to trade successfully is about many things, which I am not sure can be taught to just anyone. If I had to pick just one major point it would be LEARNING WHEN NOT TO TRADE. I believe there is many traders like myself still around but have no real interest in teaching what took years and thousands of dollars to get to that point, one reason most traders won't put in the time it takes to learn what forex is really about and what it takes to make it. I would also add how or what I do might work well for me but I am not sure it would work for the just anyone. Also I will add that I believe if you took 10 successful traders, each one would be doing all most completely different then the others. So, my advice is, it can be done but how quick and at what you need to learn is not here written down by anyone in a matter that you can read in a hour and become an overnight guru. Good luck, someone here in Florida won the $600mil power ball, it was not me.
  • #26
  • May 19, 2013 2:39pm May 19, 2013 2:39pm
Well you'd reckon wrong, but don't let me stop your bitterness ;-)

Quoting backinblackl
{quote} So I reckon you're not profitable at all?
"The meek shall inherit the earth.." Yeah right, good luck with that shit..
  • #27
  • May 19, 2013 2:45pm May 19, 2013 2:45pm
I reckon you're spot on there, I've also read some industry notes that the majority of new accounts are far less capitalised than previously, it's as if the latest new intake of victims are just having one last desperate roll of the dice with a few hundred quid/dollars. IMHO over the next few years retail volume will shrink in relation to the oxygen of free and easy borrowing becoming extinguished.

Quoting pemully
{quote} true.....retail fx picked steam after dotcom bubble and like moths to a flame the public ran to the hottest new gamet. FF started in 2004 and gained steam by 2006-2009 as the fever spread...this was the height of intellectual discussions.by 2011 almost all of the original crew left mostly from heartbreak. from then the quality of posts fell drastically. it has now become a noobs forum like baby pips .
"The meek shall inherit the earth.." Yeah right, good luck with that shit..
  • #28
  • May 19, 2013 2:52pm May 19, 2013 2:52pm
I took a glance at trade2win last month, there appears to be only 100 regular members of which probably only 50 contribute regularly. The readership looks high due to them being one of the first to market and hence they're indexed so well in Google etc but the genuine activity/discussion has collapsed.

Quoting Patience
In September 2012, according to FF, there were 60,249 active members in the last 90 days. In May 2013, according to FF, there have been 44,213 active members in the last 90 days. Sixteen thousand posters have apparently disappeared.
"The meek shall inherit the earth.." Yeah right, good luck with that shit..
  • #29
  • May 20, 2013 5:04am May 20, 2013 5:04am
Quoting Patience
Indeed Hayseed. It would appear that we are past our "use by" date.
//----

yes, i'd say we are both well past that date......

//----

one thing i notice is many 'old' members might have stopped posting for various reasons but they still check in...... muddbudda has not posted in several years but his profile shows his last login as just a couple months ago.....

think i've mentioned to you before, very few of the posts i write will every be read by anyone other than me..... i write'em, read'em and then click the delete button..... my vews on trading seem to differ so much from the 'status quo', i figure it would be wasting everyones time or risking verbal abuse.......h
to trade and code, keep both simple... no call to impress....h
  • #30
  • May 20, 2013 10:58am May 20, 2013 10:58am
The fact that more newbies are here than ever before is a testament to the growing industry. Same with brokers offering tighter spreads than ever before. It's a very fiercly competitive industry.


So is the average volume in FX... has grown by 20% since 2008... maybe this is a result of the massive stimulus however. tons of new money to play with.



I think the more experienced you are as a trader the less you will post on forums. Unless you are just damn bored watching the PA and want to see what others are doing... (for no reason other than curiosity, not to back up their own trade convictions... that reeks of newb)
Be hopeful in a winning position, and fearful in a losing position.
  • #31
  • May 20, 2013 12:44pm May 20, 2013 12:44pm
Quoting pemully
I believe most blew up or were largely unprofitable and don't want anything to do with fx.
I agree with henryscalper that forex has not lost its popularity. I started with daytrading NYSE/Nasdaq stocks and friends were recommending me to check out futures and options. At that time we were talking about regulated brokers and deposit insurance, and stuff like CFTC, NFA, FINRA, FIDC, SIPC. Nowadays people have no problem signing up with "new" forex brokers domiciled in Cyprus, Mauritius, Dominica, British Virgin Islands, Seychelles, Panama. Segregated account is not the same as insured deposits.

I rather think that less people are profitable, and soon realize the waste of precious time spent on forums.
No longer trading forex. Looking for full time job.
  • #32
  • May 20, 2013 12:49pm May 20, 2013 12:49pm
Quoting Patience
The quality of the forum has deteriorated.
Well, whose fault is that?

jk
"If The Fool persists in his Folly he will become wise." - William Blake
  • #33
  • May 20, 2013 12:57pm May 20, 2013 12:57pm
It's all in decline, take a look at google trends data here:

http://www.google.ca/trends/explore#...trading&cmpt=q

The data shows global searches for the keywords "currency trading, forex trading, stock trading, futures trading, and options trading" over time.

That is normalized global search queries on Google search.

The only one that is slightly gaining traction is options trading, specifically binary options.
  • #34
  • May 20, 2013 1:02pm May 20, 2013 1:02pm
Also have to remember that finance and trading has been supplanted by kids who want to do a startup or create the next "facebook" why spend all your day working out a trading model or strategy and writing code etc for it when you can build the next social media platform? Sadly they wont' succeed at that either.
  • #35
  • May 20, 2013 2:14pm May 20, 2013 2:14pm
Pemully,

I asked myself this same question a few months back. I just realized the quality of traders are now more refined, more professional. Those days in my country it was known people made more money of FX training than trading but I always felt my exposure to FX was Divine. I still trade, I still learn, I still try and upgrade my skills or find a plac where I could do a proper certification or training that is internationally recognized. I still make sure I make more money than I can lose and I believe FX trading is for the adventurous intellectuals among us
  • #36
  • May 20, 2013 3:03pm May 20, 2013 3:03pm
Why not teach your kids to trade forex? Start them early and it wouldn't become less popular.
Quoting billytt
I just had to visit after being pinged about the 9 year old trader...
children are like sponges taking in all the information and my daughter was asking what I was doing ???? (trading) so I explained ( or tried) and then she told me I was trying to teach Elliot wave theory wrong lol.
she does trade and she actually told me about ema 20 ,ema 02 cross over on the hourly charts ( and it looks good) I do not trade it.
Guess what she does now??? she buys goods from boot sale (second hand) and then sells it on ebay, she says it is easier (even though she has over a 90% hit rate trading. so SP let your young ones enquire I know you will show them the right way.
as for the house ,car, boat, jet ski, bike that's why we trade.
a trader might lose mon, tues, wed and make the pips thur and he /she will say they had a good week , the losing is part of the game and it is rare to actually say the word (lose).. disregarding 2 pc malfunctions the last 40 hour period I lost is approx 4 years ago.
No longer trading forex. Looking for full time job.
  • #37
  • May 20, 2013 4:54pm May 20, 2013 4:54pm
  •  Owl
  • | Joined Dec 2012 | Status: FX Siphoner Of Symphonies | 435 Posts
I just had to visit after being pinged about the 9 year old trader...
children are like sponges taking in all the information and my daughter was asking what I was doing ???? (trading) so I explained ( or tried) and then she told me I was trying to teach Elliot wave theory wrong lol.
she does trade and she actually told me about ema 20 ,ema 02 cross over on the hourly charts ( and it looks good) I do not trade it
One Must Use A Noble Rapier To Pierce The Veil Of Mystery
  • #38
  • May 20, 2013 5:09pm May 20, 2013 5:09pm
  •  Owl
  • | Joined Dec 2012 | Status: FX Siphoner Of Symphonies | 435 Posts
Quoting Patience
{quote} I don't assume everyone is American. I know far more posters from other countries. The clamp down on forex brokers by the CFTC/NFA could very well be a reason that not as many American people are participating in this market than might have otherwise.
Very good observation Patience but I implore you to consider also that due
to the truth in the real fallacy of the beautiful world of forex is that it never
really was that popular ever since it's inception to the retail market back in
93-94

Indeed a small group of people trade it..But still to this day 9 out of 10 people in life
hasn't the slightest clue of what you are talking about if you bring up the word forex
and I believe since that it's the hardest and biggest market to trade the average mind
cowers in fear of repetitive losing hence mostly everyone around you in the real world
that's outside of this digital world steers far away from this arena/battlefield....
Forex magnifies and sets a bona fide claim to only the strong will survive this endeavor
One Must Use A Noble Rapier To Pierce The Veil Of Mystery
  • #39
  • May 20, 2013 5:17pm May 20, 2013 5:17pm
i think yes because forex is not the activity type that public normal people could or should get involved in .most who got involved lose there hard earned money so now they are looking more for other safe investments .
i have no choice but forex thats why i am in it for good .but i dont advice any one to get in it because he will lose for sure and then i will be blamed
i know many that like the style of my life but i warn them when they show that it is not bright as it looks really
all have a nice day
focus while relaxed to see better
  • #40
  • May 20, 2013 6:36pm May 20, 2013 6:36pm
Quoting Owl
{quote} Very good observation Patience but I implore you to consider also that due to the truth in the real fallacy of the beautiful world of forex is that it never really was that popular ever since it's inception to the retail market back in 93-94 Indeed a small group of people trade it..But still to this day 9 out of 10 people in life hasn't the slightest clue of what you are talking about if you bring up the word forex and I believe since that it's the hardest and biggest market to trade the average mind cowers in fear of repetitive losing hence...
hit the nail on the head


well done


you are right 9/10 have no clue what the word forex even means or represents




i would wager that world wide there is only 100 million FX traders, with the U.S. holding one of the smallest % of traders. I bet only 1 million out of 350 million Americans trade FX.


they say that 50% of U.S. households own stocks... but really owning stocks typically does not also mean you are a trader. usually it just means you have a 401k managed by someone other than yourself.
Be hopeful in a winning position, and fearful in a losing position.
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