Why are most of the traders here failures? | Page 7 | Forex Factory

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Why are most of the traders here failures?

  • #121
  • May 23, 2013 2:04pm May 23, 2013 2:04pm
Quoting Ill-b-back
{quote} To take them on a journey of system hopping no doubt lol...
Better than H4 crap and waiting for candles to close.

i have been profitable for upto 6months, you ?
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #122
  • May 23, 2013 2:07pm May 23, 2013 2:07pm
Quoting scfx
{quote} I would say you the best person to talk about failed trading... Try Daily and then report back. I make most my real best winners of the daily time frame.. short term stuff is imo entertainment only. but you're a 1min wonder-man.

PROVE IT! troll!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #123
  • May 23, 2013 8:43pm May 23, 2013 8:43pm
Well, I can not account for anyone else trading here, but I think I have a solid answer to the thread's question:

In my case, it is because I am my own worst enemy while trading.

Case in point: Today (May 23, 2013), the indications I look for to enter a trade looked like there was to be a reversal (I trade on the hourly charts) on USD/JPY. I placed my entry order, and waited. Well, at noon EST, my entry order was triggered, and proceeded to head straight for my stop loss. Feeling I had made a mistake (since I am still unsure of my ability to make educated guesses), I cancelled the order with a 24 pip loss, about 30 pips before my stop would have triggered. So then, I made the rookie mistake of entering a trade in the opposite direction (shorting this time), and the market reversed again, for another 14 pip loss (38 pips total). I then became angry with myself enough that I re-staged my original entry order, and just let it go this time. My stop loss was never hit, and instead the market had moved to a 43.5 pip profit when I closed it out.

Had I not tried to over think my position and planning, I would have had a 43.5 pip profit, instead of the 5.5 pips I ended with.

I'm probably not alone in my thoughts that a lot of times traders allow themselves to get in their own way.
  • #124
  • May 24, 2013 1:18am May 24, 2013 1:18am
Quoting Turveyd
{quote} PROVE IT! troll!
Post your entire account history and it will be proved in a post.... you douche
The best indicator is price.
  • #125
  • May 24, 2013 5:35am May 24, 2013 5:35am
I think most traders fail because trading is actually much more difficult than what is expected - its also open to everyone from the least educated upwards - the bar is low so you are going to get bad people who would fail at anything.
  • #126
  • May 24, 2013 8:58am May 24, 2013 8:58am
Quoting scfx
{quote} Post your entire account history and it will be proved in a post.... you douche

So I'm about the only person on the entire site, where 98% area fail, to actually be honest and not claiming to be profitable and you want to see my account history, which is profitable on the year so far. ( 10% or a medium sized pizza )

Where as you claim to be a D1 profitable trader and won't post your account history LOL

1000's of posters, 7 years and I've not yet seen a H4 trader who's proved he's profitable, not 1, yet H4 is preached like it's the only way to trade, while not 1 poster is profitable off it.


So, there all failing, cause there all sheep, which follow liars, sad sad state of affairs.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #127
  • May 24, 2013 9:44am May 24, 2013 9:44am
Quoting Turveyd
{quote} So I'm about the only person on the entire site, where 98% area fail, to actually be honest and not claiming to be profitable and you want to see my account history, which is profitable on the year so far. ( 10% or a medium sized pizza ) Where as you claim to be a D1 profitable trader and won't post your account history LOL 1000's of posters, 7 years and I've not yet seen a H4 trader who's proved he's profitable, not 1, yet H4 is preached like it's the only way to trade, while not 1 poster is profitable off it. So, there all failing, cause...

ok,spit it out - what´s wrong with h4 in your opinion?
  • #128
  • May 24, 2013 10:22am May 24, 2013 10:22am
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  • #129
  • May 25, 2013 3:09am May 25, 2013 3:09am
Come on guys, it is not the time frame that is cause of failure because it really does not matter if you have a good risk management and trading method. The real thing for failure are emotions and not following trade plan.
  • #130
  • May 25, 2013 4:15am May 25, 2013 4:15am
Quoting Myo
{quote} ok,spit it out - what´s wrong with h4 in your opinion?
He wouldn't actually know, he's never tried it.
Whilst i believe Faller trades for a living, Ive never seen a consistently profitable 15min system trader account history either, yet this is conveniently overlooked.

At least on 4hr charts I can lose money without being glued to the screen

Lol...

And at least seasoned traders know that market sentiment is reflected in higher TF's and are putting the odds in their favour rather than being memorized by market noise.
Come with me if you want to live....
  • #131
  • May 25, 2013 4:30am May 25, 2013 4:30am
Just on a little side note,
If someone was to open a contrarion account trading in the opposite direction to headline trade recommendations made in the FF news section, I suspect the long sought after holy grail may have been found.

I am very serious on this
Come with me if you want to live....
  • #132
  • May 25, 2013 5:41am May 25, 2013 5:41am
Quoting Ill-b-back
Just on a little side note,If someone was to open a contrarion account trading in the opposite direction to headline trade recommendations made in the FF news section, I suspect the long sought after holy grail may have been found. I am very serious on this
So it's not just me who has noticed this
  • #133
  • May 25, 2013 6:39am May 25, 2013 6:39am
Quoting Ill-b-back
{quote}He wouldn't actually know, he's never tried it.Whilst i believe Faller trades for a living, Ive never seen a consistently profitable 15min system trader account history either, yet this is conveniently overlooked. At least on 4hr charts I can lose money without being glued to the screen Lol... And at least seasoned traders know that market sentiment is reflected in higher TF's and are putting the odds in their favour rather than being memorized by market noise.

There are a lot of different things I haven't tried, like jumping off a cliff, smoking, hard drugs I'm fairly sure you haven't got to try something to know it's rubbish.

You wouldn't believe a 15M trader profitable account, even if you saw it, maybe he was really trading M1 or W1 and was just damn good anyway.

M1 or H4, if the market moves 10pips in 1 it moves the same in the other you realise this ?? so why can't I trade the same exact way you do, just using more detailed charts, it's TP and SL size which dictate how glued to the screen you are.

The issue with H4 is, your trading pretty much always after the effect, a OHLC 4H ( 4 numbers ) will have zero predictive ability for the next 4H or 24hours, where as M1 lets you trade live in the action, market is moving up, join it, rather than market has moved up, do you still want to join it ??

And your last comment is BS passed around on here, unless your trading with a >1000SL and holding for months / years then you are not trading the longer term sentiment, 200SL still puts you in the SL hit by noise which is what most people trade.

Most people are trying to intraday trade off H4 data, just ludicrous.

p.s. I'm actually trading off M5 at the moment, what I'm doing, doesn't need M1 detail and I'm going for longer trends and M5 is easier to read on my phones screen as more history.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #134
  • May 25, 2013 6:43am May 25, 2013 6:43am
Quoting Ill-b-back
Just on a little side note,If someone was to open a contrarion account trading in the opposite direction to headline trade recommendations made in the FF news section, I suspect the long sought after holy grail may have been found. I am very serious on this

News always has a reverse direction it logically should move, I never read news, you just end up losing money screaming at the screen why are you going that way, did you not read the news MORON's.

GDR is 1 of the very few people I believe 100% is profitable, I don't understand what he's seeing and neither does he I suspect, if I believed in luck I'd put him down as the luckiest SOB that ever lived, but I don't, so it's a poor answer.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #135
  • May 25, 2013 7:26am May 25, 2013 7:26am
Quoting Turveyd
{quote} There are a lot of different things I haven't tried, like jumping off a cliff, smoking, hard drugs I'm fairly sure you haven't got to try something to know it's rubbish. You wouldn't believe a 15M trader profitable account, even if you saw it, maybe he was really trading M1 or W1 and was just damn good anyway. M1 or H4, if the market moves 10pips in 1 it moves the same in the other you realise this ?? so why can't I trade the same exact way you do, just using more detailed charts, it's TP and SL size which dictate how glued to the screen...
Longer term sentiment?, I never discussed this, you are mistaken.
Market sentiment is just that, sentiment.
Referencing higher TF's such as daily and weekly for sentiment (current or long term) allows us to use 4hr for entries on pullbacks against sentiment. Or on TL breaks in line with sentiment.
Your notion that 4hr intraday trading is ludicrous MAY carry some weight but i dont believe intraday trading is the only way (do you?) and mearly reflects your lack of experience on the matter.

My own lack of current success holds about as much relevance to potential forex success as the recently displayed early parachuting efforts in France do to the sport now enjoyed by many.
Come with me if you want to live....
  • #136
  • May 25, 2013 7:35am May 25, 2013 7:35am
Quoting GDR3k
{quote} So it's not just me who has noticed this
lol...

Im thinking of opening a contrarion trading thread where people can post trade recommendations from banks etc they find published in the news thread, so I can open contrarion trades.

However, I suspect after a few months of profitable demo trading and about to go live, they would catch on and start publishing the truth.
I guess at least something worthwhile would have been achieved

lol...
Come with me if you want to live....
  • #137
  • May 25, 2013 7:39am May 25, 2013 7:39am
Quoting GDR3k
{image}
Who gets the Grammy?
Come with me if you want to live....
  • #138
  • May 25, 2013 9:43am May 25, 2013 9:43am
Quoting Ill-b-back
{quote}My own lack of current success holds about as much relevance to potential forex success as the recently displayed early parachuting efforts in France do to the sport now enjoyed by many.
And you still keep referencing my lack of being a billionaire and attributing it to my M1 trading, where as just like your H4 lack of success is completely irrelevant.

But I bet I'm a lot further down the line towards profitable long term than you are via M1 / M5, but I've been at it longer, not I get to trade much at all at times.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #139
  • May 25, 2013 9:47am May 25, 2013 9:47am
Quoting Ill-b-back
{quote}lol... Im thinking of opening a contrarion trading thread where people can post trade recommendations from banks etc they find published in the news thread, so I can open contrarion trades. However, I suspect after a few months of profitable demo trading and about to go live, they would catch on and start publishing the truth.I guess at least something worthwhile would have been achieved lol...
Used to watch CNCB and the like 1999 area , its amazing how they'd get bullish at the top, you'd think it was to get us retail to buy the shares the big boys where selling LOL

Saw it in the UK Housing market to, mate started running a free seminar to sell the concept of buying houses cause there is loads of growth left right at the top of the market, read please buy our houses at the top of the market before the crash!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #140
  • May 25, 2013 5:10pm May 25, 2013 5:10pm
Quoting Turveyd
{quote} And you still keep referencing my lack of being a billionaire and attributing it to my M1 trading, where as just like your H4 lack of success is completely irrelevant. But I bet I'm a lot further down the line towards profitable long term than you are via M1 / M5, but I've been at it longer, not I get to trade much at all at times.
This is true and a good point.
I should not be drawn or distracted by your performance as in reality and if we are both honest, in the grand scheme of things, it holds probably as much relevance as mine.
I can only feel I was drawn into it.
The crux of my point is that making arbitrary statements to traders like it doesn't work and a 200 pip SL on a 4hr chart is just as likely to get hit as a 20 pip SL on a 15 min chart is of no value in a game where experience, interpretation and dare I say it "tools" often make all the difference.

It does nothing to help their cause unless we believe their cause should be not to even try, in which case do as I do dictates we should not even be here.
Come with me if you want to live....
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