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Is forex becoming less popular?

  • #61
  • Jul 31, 2013 1:40pm Jul 31, 2013 1:40pm
wow! the Japanese housewives are back after being wiped out in 2008.

I hear they are a force to reckon with.
wo-yoy! wo-yoy! wo-yoy! wo-yoi! wo-yoy-yoy-yoy!
  • #62
  • Aug 5, 2013 8:58pm Aug 5, 2013 8:58pm
After 3 years learning in forex market, I would say forex market is a market for big fish to manipulate to hunt the small fish. Forex is decentralized and in fact we are trading against the platform/broker which already been designed to hunt us. No matter how good of technical and MM skill you have, you are not able to beat the big fish in the long run. I found another link for good reading about this

http://ihavenoiqscore.wordpress.com/...of-its-a-scam/

So, I have been moved to stock and futures market which is more "fair" game if compared to forex.
  • #63
  • Edited Aug 6, 2013 12:11am Aug 5, 2013 10:12pm | Edited Aug 6, 2013 12:11am
Quoting alankw88
So, I have been moved to stock and futures market which is more "fair" game if compared to forex.
I don't think forex is unfair at all. It is an unregulated market you are not forced to speculate on (except through business or travel, but that's not why people are here), it is pretty much the most free and fair market in the world.

But in saying that, I trade futures because why pay to trade when you can get paid to trade. Most people on here are clueless to what a limit order actually is and have no concept of what a market is outside of a head and shoulders pattern on a chart.

If every trader on this forum stopped trading it would effect very few people other than brokers, the liquidity will remain

Quoting alankw88
I would say forex market is a market for big fish to manipulate to hunt the small fish.
Have to disagree with this, the futures (and all brokers) track spot pretty much to the pip. Any broker manipulating price or even just slow would get arbed out of the game very quickly. Not to mention the small fish piggy back on the big fish.
  • #64
  • Edited 10:53pm Aug 5, 2013 10:16pm | Edited 10:53pm
Another thing about this forex scam bs.... if you are a profitable trader what does it matter to you that your broker is netting your orders off against another client?

The whole point of the market is you don't have to go find someone to be on the other side of your order yourself, wouldn't that be a big pain the a$$, your phone bill would be larger than commission, not to mention the Latency "Hello, Mr Aanar?, fancy a trade? no? ok, bye", i don't even know if they still give out phone books. The broker is doing it for you. If he puts it through to a central exchange there is still a client of someone on the the other side

Give the brokers a break, they are taking risk, working, creating employment and a service for you. No one is forcing you to use them
  • #65
  • Aug 5, 2013 10:55pm Aug 5, 2013 10:55pm
Quoting havaiana
Another thing about this forex scam bs.... if you are a profitable trader what does it matter to you that your broker is netting your orders off against another client? The whole point of the market is you don't have to go find someone to be on the other side of your order yourself, wouldn't that be a big pain the a$$, your phone bill would be larger than commission, not to mention the Latency "Hello, Mr Aanar?, fancy a trade? no? ok, bye", i don't even know if they still give out phone books. The broker is doing it for you. If he puts it through...
A lot of the hate on brokers is based on misinformation and a desire to find a scapegoat for individual failure in trading. You're right in that they have a very difficult job and that the field is quite competitive. Both F X C M and O a n d a have been very good to me in terms of customer service and are willing to admit mistakes if and when they happen.
  • #66
  • Aug 6, 2013 1:53am Aug 6, 2013 1:53am
seems I was wrong.AFR has done the first comprehensive research of retail fx which has a market share of about 20% and growing .Banks control about 26%.
Now we know who support the fx industry. Retail traders.
wo-yoy! wo-yoy! wo-yoy! wo-yoi! wo-yoy-yoy-yoy!
  • #67
  • Aug 6, 2013 4:05am Aug 6, 2013 4:05am
Forex has been popular and will continue to be so in the coming years.Everyday many people enquires about forex and how to get into it.So,i dont think its becoming less popular infact its growing.
  • #68
  • Aug 6, 2013 4:15pm Aug 6, 2013 4:15pm
I think that the forex market is very beneficial for all, sometimes you win I lose, The good thing about this business is that you have tools, strategies and techniques that help predict what will happen.
  • #69
  • Aug 6, 2013 5:27pm Aug 6, 2013 5:27pm
for most 'religious' people , gambling is forbidden. heck, the world forbid gambling in most of the place. and many still think that investment is gambling.
so people still choose deposit with 2% annual return instead waiting a year for a good price to trade

in years learning forex;
i can't trade few years back because i'm not educated enough
and then still can't trade because broker has minimum account of 2500 or so ( and now you get $x of your demo profit , free account etc ,lol )
still not profitable because the broker spread is big
4 decimal for gbp/usd price

and now that was history, only in 7 years.... i guess in few more years we'll see 1 pip spread is common in retail. with 5 decimal price.

btw that 1 tick price, if broker get an addition of 1 digit behind that, they can legally take profit from price difference. and someone else can take profit from that broker if have another digit,

but i guess everybody know this already right?
  • #70
  • Aug 6, 2013 6:54pm Aug 6, 2013 6:54pm
Quoting alankw88
After 3 years learning in forex market, I would say forex market is a market for big fish to manipulate to hunt the small fish. Forex is decentralized and in fact we are trading against the platform/broker which already been designed to hunt us. No matter how good of technical and MM skill you have, you are not able to beat the big fish in the long run. I found another link for good reading about this http://ihavenoiqscore.wordpress.com/...of-its-a-scam/ So, I have...
This article touches paranoia! However, there's some truth to it. Most brokers aren't really brokers. They do not pass their costumer orders to the market, or only pass part. They simply act as counterparty to the orders they process. The orders stay in house. Meaning they are not only gaining commission/spread from a costumer. They also profit when a costumer loses, and vice-versa. Their business model is exactly the same as a casino, and as such they do not like winners, and will play whatever dirty tricks they can get away with to make the few profitable costumers leave (hello veteran news traders!).

The way I see it a broker should never be allowed to process and act as counterparty for the same order. Especially in a decentralized market like forex where it is nearly impossible to determine whether or not execution is being fair. It is completely unethical, but sadly this is the way it works and it is considered legal.
"To hold, you must first open your hand. Let go." - Lao Tzu
  • #71
  • Aug 6, 2013 7:04pm Aug 6, 2013 7:04pm
Quoting havaiana
Another thing about this forex scam bs.... if you are a profitable trader what does it matter to you that your broker is netting your orders off against another client? The whole point of the market is you don't have to go find someone to be on the other side of your order yourself, wouldn't that be a big pain the a$$, your phone bill would be larger than commission, not to mention the Latency "Hello, Mr Aanar?, fancy a trade? no? ok, bye", i don't even know if they still give out phone books. The broker is doing it for you. If he puts...
Oh, but it matters. A 0.1 pip difference in execution can make a world of difference. Especially, when who's executing the order also stands to profit from your loss.
"To hold, you must first open your hand. Let go." - Lao Tzu
  • #72
  • Aug 6, 2013 7:42pm Aug 6, 2013 7:42pm
I don't post much anymore. I have been doing good myself. So I am pretty much doing everything solo. I try not to let forex run my life. If charts don't look interesting, go do something else. I dont spend time on forums anymore, I stick to what works.

I believe when it comes to learning this art. There is always a part of us that wants to explore new concepts and learn. So when you even come upon something that works, at some point you will abandon it and chase another idea.

It's just like a baby learning the world around it.

After a while you settle down and you just do what you do. You kind of become close minded to new concepts and idea. Especially if they don't fit your view on the charts. Like an old man I suppose.

now I like I said I dont' spend too much time on the boards anymore.. but I've looked at a few threads recently.. .. but I don't click on the ones about systems or ideas.. I click on the ones with the actual trades like the .. USD/JPY... the AUD/USD yesterday cause the fed rate was coming just to get some idea what people might be thinking about it.. I noticed their views pretty much aligned with mine..

So bottom line.. the best traders at forexfactory don't look for them in the systems forums, look for them in the actual trading forums.
  • #73
  • Aug 6, 2013 9:02pm Aug 6, 2013 9:02pm
Quoting Greenstar
I have no idea how people could actually just give up. After all the experiences and the learning? Especially since, with me, demo accounts were never something I wanted to do - never felt real enough for me? All the stuff I've been through with money in my life has had to do with one thread - I, like lots of others, want independence. I tried lots of ways to bring that about, including serious considering medical transcription because I wanted so very very badly NOT TO HAVE TO WORK with a large group, dealing with all the aspects of that... where...
absolutely love this
Argue for your limitations, and sure enough, they're yours. Richard Bach
  • #74
  • Aug 11, 2013 8:48am Aug 11, 2013 8:48am
Forex has definitely got less popular.

I've attached a chart of the google searches for "forex" since 2004. The term "forex trading" has a similar pattern. You can see a significant increase from 2006 to 2008, and then a sharp sudden fall, and a slow grind downward, suggesting it's popularity is waning.

Not really surprised by that. I was trading forex from late 2006, and I can remember how popular it was in 2007-2008.
Attached Image (click to enlarge)
Click to Enlarge Name: forex.png Size: 49 KB
  • #75
  • Aug 11, 2013 11:48am Aug 11, 2013 11:48am
Quoting SM02
Forex has definitely got less popular. I've attached a chart of the google searches for "forex" since 2004. The term "forex trading" has a similar pattern. You can see a significant increase from 2006 to 2008, and then a sharp sudden fall, and a slow grind downward, suggesting it's popularity is waning. Not really surprised by that. I was trading forex from late 2006, and I can remember how popular it was in 2007-2008. {image}
That coincides with the market crash in late 2008. Not a surprise, the same thing happened with the dot-com bubble. People want fast, easy money and they get greedy so they turn to this thinking it's a piece of cake. They get their ass handed to them and then they quit and never look at it again.
  • #76
  • Aug 11, 2013 12:31pm Aug 11, 2013 12:31pm
Quoting Kanzler
{quote} That coincides with the market crash in late 2008. Not a surprise, the same thing happened with the dot-com bubble. People want fast, easy money and they get greedy so they turn to this thinking it's a piece of cake. They get their ass handed to them and then they quit and never look at it again.
Hear hear
  • #77
  • Last Post: Aug 14, 2013 5:14pm Aug 14, 2013 5:14pm
At the same time, as macro economic factors such as quantitative easing have reduced volatility in the foreign exchange market, volume has declined. From 2011 to 2012, according to the report, average daily volume fell from about $4.1 trillion per day to $3.6 trillion. GreySpark expects volumes to stay below 2011 levels for the next four years.
The combination of declining volume and fragmentation is leading to better pricing for asset managers and other customers. Indeed, data from Credit Suisse shows a sharp drop in USD-EUR spreads in 2012. (See graph.)
http://www.tradersmagazine.com/news/...-111441-1.html
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