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Is trading really that hard?

  • #61
  • Oct 25, 2013 11:33am Oct 25, 2013 11:33am
Quoting nbwilson23
Its like sports. they are hard, if you suck. If you dont suck. you're still not as good as a pro. And if you're a pro. You still aint made the all star team.
Thats why proper analysis is required over market because Forex market is very risky and it requires proper analysis and trader will be able to achieve their goals of success in Forex.
  • #62
  • Oct 29, 2013 6:03am Oct 29, 2013 6:03am
Trading is complicated!! there is no doubt about that, there are all the terms to learn and factors to consider. You can be trading for a few years and still be classed as a beginner.. i was wondering if there really was an easy way to trade forex then i came across one which i think may be the answer to my prayers GWAZY. It seems to have no margins, leverage, spreads and predetermined payouts.. so far i am trading demo and it seems like the best parts of forex and binary options put in to a perfect platform. So far only Windsor Brokers offer it. However, as always i am apprehensive... is it too good to be true???? anyone else tried it. really could do with some advice before i invest some money.
  • #63
  • Oct 29, 2013 8:43am Oct 29, 2013 8:43am
I don't think trading is hard. The main problem is wannabe traders open accounts with $1000 thinking they can double it every few months. This leads to over trading and bad money management. In the end they just blow their accounts.

Now take someone who has $50,000 starting capital, he isn't going to be farting around looking for the holygrail from other wannabe traders on a forex forum.

You can make 40-60% per year without much effort which is being more realistic.
  • #64
  • Oct 29, 2013 8:57am Oct 29, 2013 8:57am
Quoting mitch77
You can make 40-60% per year without much effort which is being more realistic.
I agree with that.
So sorry for always replying late! But I got 2 Jobs!!
  • #65
  • Oct 30, 2013 4:58am Oct 30, 2013 4:58am
Quoting mitch77
I don't think trading is hard. The main problem is wannabe traders open accounts with $1000 thinking they can double it every few months. This leads to over trading and bad money management. In the end they just blow their accounts. Now take someone who has $50,000 starting capital, he isn't going to be farting around looking for the holygrail from other wannabe traders on a forex forum. You can make 40-60% per year without much effort which is being more realistic.
Agree. Even 20% - 30% per annum sounds like a good return.
  • #66
  • Oct 30, 2013 5:38am Oct 30, 2013 5:38am
Quoting WilliamDa
{quote} Agree. Even 20% - 30% per annum sounds like a good return.
But 20-30% isn't worth putting yourself under the tension of trading! . I mean you can make 5% out of your money running a supermarket or a coffee shop business, that's 50-60% per annum and it's not mentally exhausting as trading ( source:had a supermarket business for 2 years ) ...
So sorry for always replying late! But I got 2 Jobs!!
  • #67
  • Oct 30, 2013 6:44am Oct 30, 2013 6:44am
with 50-60 % per ann. i should start supermarket .
  • #68
  • Oct 30, 2013 7:28am Oct 30, 2013 7:28am
Both really, trading is hard, hard to trust an entry even when you've got a method, you end up not taking it, incase it's 1 of the losers, bla bla bla.

I'm also lazy, so although I've been going for years literally and do lots of after hours research and testing, my live chart watching is likely sub 100hours.


You've got to be in it to win it and you've got to watch full time to spot the entrys, checking the market 5 times per day rarely matches up with a entry time/



Life is never easy!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #69
  • Oct 30, 2013 3:26pm Oct 30, 2013 3:26pm
Hello all, I am new to this, first month and I opened account with 10k. I was up almost 1k on my 5th day (today) but lost it all this afternoon plus an additional 1k at 11pm pst. When I say I lost it, I lost all of my profit I had gained plus an additional 1k. At first I had feelings of I must be pathetic but now I have found this site from a friend of mine. I guess that was my learning experience to never trade during "Big News".
  • #70
  • Oct 30, 2013 4:32pm Oct 30, 2013 4:32pm
Quoting AchilliesM5
Hello all, I am new to this, first month and I opened account with 10k. I was up almost 1k on my 5th day (today) but lost it all this afternoon plus an additional 1k at 11pm pst. When I say I lost it, I lost all of my profit I had gained plus an additional 1k. At first I had feelings of I must be pathetic but now I have found this site from a friend of mine. I guess that was my learning experience to never trade during \"Big News\".

Big news is bad, especially if it gaps 100pips instantly cause your SL will likely fill at the worst price, a SL of 20 gets slapped for 100.

I never hold over big news, intentionally, obviously it happens frequently, and never ever in my favour interestingly.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #71
  • Oct 30, 2013 5:44pm Oct 30, 2013 5:44pm
I made a classic idiot mistake. I for whatever reason thought that the FED was speaking at 12 not 11PST. My classic lazy rookie mistake. At least now I know why I messed this up. I thought I was doing really good and all of a sudden this. Well I am glad I am a member here now.
  • #72
  • Oct 31, 2013 1:31am Oct 31, 2013 1:31am
Quoting Turveyd
{quote} if it gaps 100pips instantly cause your SL will likely fill at the worst price, a SL of 20 gets slapped for 100.
Is this really possible :O
So sorry for always replying late! But I got 2 Jobs!!
  • #73
  • Oct 31, 2013 1:49am Oct 31, 2013 1:49am
I think after learning some basic principles trading is not complicated at all, but it can be very hard for many due to psychological reasons. Those being the usual things like the pain of watching a position go against you (you get over it), revenge trading (don't fucking do it LOL), the fear of losing your un-booked profits, etc. So like I said, it's not complicated, but it can be hard for some people. I think it gets easier as time goes on, just as anything else does when you're well-practiced. Just gotta stick with it, keep your nose in the books, get plenty of screen time, learn from your mistakes and apply those lessons, and don't over leverage yourself. Start with $500 in a micro account and don't deposit a penny more until you're good enough to grow your account regularly. If you can't grow $500 you sure as shit won't be able to grow 5k or 50k...
Get money, don't let money get you. @kauaiforex
  • #74
  • Oct 31, 2013 8:16am Oct 31, 2013 8:16am
Quoting Muhammad Ezz
{quote} Is this really possible :O
Maybe but I haven't seen it. You can dive for cover every time there is a high impact announcement and end up missing most of your set ups, or you can just go for it and pray. It seems like most of the time the outcome is not that far from the consensus and the price just wobbles around a bit before resuming its original direction. I'm preferring the daily timeframe as I can have a bigger SL and hopefully some pips away before sh*t hits.
  • #75
  • Oct 31, 2013 8:53am Oct 31, 2013 8:53am
Quoting Muhammad Ezz
{quote} Is this really possible :O

Trade over NFP without realising it, with all the orders going mad, FXCM delayed getting me out for a few seconds and literally a 100pip loss, only opened the trade 30seconds ish before aswell, account vapourised in sub 60seconds, good times.

Only to watch it, reverse direction and be hugely up 2mins later.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #76
  • Oct 31, 2013 8:57am Oct 31, 2013 8:57am
Quoting jen101
{quote} Maybe but I haven't seen it. You can dive for cover every time there is a high impact announcement and end up missing most of your set ups, or you can just go for it and pray. It seems like most of the time the outcome is not that far from the consensus and the price just wobbles around a bit before resuming its original direction. I'm preferring the daily timeframe as I can have a bigger SL and hopefully some pips away before sh*t hits.

Not an issue, if your trading 3% of your account is 200pips, 3% is 20pips then a 80pip extra SL hurts ofcourse, 15% gone ( or more at times in my case )

Realistally, it's a 50/50 game, where you'd make more playing over big news on average, but in real life the setup you'd take before is normally wrong, or it'll go 100pips down, hit everyones SL, if your short you'll wait to long and 100pips back up then hit your SL anyway.

I don't believe in luck, and luck seems to have it me for it, every attempt at holding over news = DOOM strangely.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #77
  • Oct 31, 2013 11:09am Oct 31, 2013 11:09am
Quoting AchilliesM5
Hello all, I am new to this, first month and I opened account with 10k. I was up almost 1k on my 5th day (today) but lost it all this afternoon plus an additional 1k at 11pm pst. When I say I lost it, I lost all of my profit I had gained plus an additional 1k. At first I had feelings of I must be pathetic but now I have found this site from a friend of mine. I guess that was my learning experience to never trade during \"Big News\".
Trading around big news is not a good idea, for example, see the market charts before the recent fed meeting and after - that should give you an idea on how volatile the markets can be around when the news gets released. FF is a great place and hope you make up your loss..
  • #78
  • Oct 31, 2013 7:33pm Oct 31, 2013 7:33pm
Quoting Forexnuts
{quote} Trading around big news is not a good idea, for example, see the market charts before the recent fed meeting and after - that should give you an idea on how volatile the markets can be around when the news gets released. FF is a great place and hope you make up your loss..
Thanks for the advice. I am finding out the hard way. I read another thread about only 1 percent of traders actually make it. Is that True?
I want to make a career move. I am a mortgage broker and I have saved money and wish to enter this field. I am hoping this will enable me to work from home, trade in the morning and spend nice quality time with my daughter and wife.

Question please: I haven't been trading early in the morning. I usually just trade when I wake up. Is this wrong? I have a friend that appears to be very profitable because this is all he does and his family lives very well off his income and he religiously wakes up at 5 am and trades futures in the morning for 90 min. Is this what experts do and why is trading in the a.m. so important? Needless to say tomorrow will be my first 5 am day. I'll post my experience.
thank you for your time.
  • #79
  • Oct 31, 2013 11:48pm Oct 31, 2013 11:48pm
Quoting AchilliesM5
{quote} Thanks for the advice. I am finding out the hard way. I read another thread about only 1 percent of traders actually make it. Is that True? I want to make a career move. I am a mortgage broker and I have saved money and wish to enter this field. I am hoping this will enable me to work from home, trade in the morning and spend nice quality time with my daughter and wife. Question please: I haven't been trading early in the morning. I usually just trade when I wake up. Is this wrong? I have a friend that appears to be very profitable because...
You should figure out what works for you personally. Are you trading forex alone or are you wanting to trade other markets during the NY session? Do you want to day trade, swing trade or position trade? If you want to day trade then being at your desk during the most liquid hours is obviously best, but if you want to trade longer term you don't have to be glued to your computer as much. No one style is better or worse, just different. The only thing that matters is whether it's better or worse for you.
Get money, don't let money get you. @kauaiforex
  • #80
  • Oct 31, 2013 11:59pm Oct 31, 2013 11:59pm
Quoting AchilliesM5
{quote} Thanks for the advice. I am finding out the hard way. I read another thread about only 1 percent of traders actually make it. Is that True? I want to make a career move. I am a mortgage broker and I have saved money and wish to enter this field. I am hoping this will enable me to work from home, trade in the morning and spend nice quality time with my daughter and wife. Question please: I haven't been trading early in the morning. I usually just trade when I wake up. Is this wrong? I have a friend that appears to be very profitable because...
Depends on how long you've been trading?


Based on your replies, seems like you have just started and is still experiencing the newbie glow of forex (please correct me if I am wrong).

It takes work, lots of work to make trading a full time occupation. If you are able to dedicate 2-3 years to learning this, and are willing to take it slow and not go all in with all your bank account then maybe it can work for you.
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