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Is Forex reliable?

Quoting ElComandante
Is Forex reliable or not?
As reliable as other forms of gambling. If you discover a strategy that gives you an edge you can become like the bookie or the casino house and consequently make money over time. The casino's edge on the american roulette is 5.26% and on the european roulette only 2.7% but - in spite that small edge - the casino will ALWAYS win over a number of roulette spins.

If you are like the casino gambler it is unlikely to win over the long run imo.
In my opinion Forex doesn't have a feature of reliability cuz it is not bank, organization or a person. Investing money in forex impies high risk and nobody can give you even 1% of guarantee that you can acquire additions to your "fortune"
Actually when it comes to business, there's no guarentee and the only thing you can count on is your skill..guess it pays to have more fingers and toes than the other traders..
Quoting ElComandante
I have heard many rumors about Forex that Forex is not reliable and Forex is a risky business and you can loss all your money. So I am very confused about Forex so plz help me and tell me Is Forex reliable or not?

no guts no glory. simple as that.... not really its really complicated and hard(you need extreme emotional control/discipline/trading plan/money management skills, etcs) but that first part is true.
The Meek Shall Inherit The Earth...
Quoting Forexnuts
Actually when it comes to business, there's no guarentee and the only thing you can count on is your skill..guess it pays to have more fingers and toes than the other traders..
Yes, in Forex there is nothing guaranted so trader have to improve their trading analysis and skills to get the proper trading knowledge and experience which should be the priority of every trader.
The only people who think that FX is unrealiable are those who have made a living out of the business....it ain't the easiest but a combination of skill, patience and the right psych works out perfectly.
Unlike many, I know for a fact that forex is a reliable business!
i make a living trading so it worked out for me
Quoting MapleLeaf
{quote} Bla bla bla... The FACT is that you don't make a Living, trading RETAIL FOREX, Hanover... Same as 99.6% of people... Official stats in the study made by a PhD using official broker data. Again... 99.6% of people lose money in FOREX. You don't know what to answer to this, right?... You can think a response all weekend if you want, let's see how you try to justify that... Instead, you make a living convincing people to trade RETAIL FOREX, to get them to HIRE YOU and program stuff for MT4... Stuff that will never make them a living. That's...
MapleLeaf,

The bet that I have to make $3,000 EVERY month, I would never take since by simple randomness, almost any strategy with a long term positive edge is likely to have negative months, unless it has a very high frequency of trades or a very high and consistent edge. If the bet was to make $36,000 in a 12 month period, I would gladly accept it BUT depending on some clarifications:

What is the starting equity am I allowed to have in my account?
Can I choose which broker to use?
Do I have to trade the the entire 12 month period or can I stop if/when I hit $36k of profits?

Regards,

Aim
Quoting AimHigher
{quote} MapleLeaf, The bet that I have to make $3,000 EVERY month, I would never take since by simple randomness, almost any strategy with a long term positive edge is likely to have negative months, unless it has a very high frequency of trades or a very high and consistent edge. If the bet was to make $36,000 in a 12 month period, I would gladly accept it BUT depending on some clarifications: What is the starting equity am I allowed to have in my account? Can I choose which broker to use? Do I have to trade the the entire 12 month period or can...

Helo aimhigher

i like your name.i have been trading for several years now old person.Accroding to me the this business is
good if you have patience and know how to handle pressure when you take a loss.otherwise it will be very
difficult for a person to survive in this.you can sit and take trades wheever you want on a holiday,bedroom,in the toilet these are the advantages of trading forex.but this comes with lots and lots of experience.
you cant do trading in few years.it will take a long time.

Keep your day job and keep trading forex in the sideline.one day the day job will leave you and forex will
take your over.that is the day you need to wait for.till then good luck
forex is 5+ trillion $ business in a day so it may difficult to get profit from your $10k investment
Quoting Danny Maina
The only people who think that FX is unrealiable are those who have made a living out of the business....it ain't the easiest but a combination of skill, patience and the right psych works out perfectly. Unlike many, I know for a fact that forex is a reliable business!
Yeah Agree with you mate.
Quoting yinyang
{quote} Helo aimhigher i like your name.i have been trading for several years now old person.Accroding to me the this business is good if you have patience and know how to handle pressure when you take a loss.otherwise it will be very difficult for a person to survive in this.you can sit and take trades wheever you want on a holiday,bedroom,in the toilet these are the advantages of trading forex.but this comes with lots and lots of experience. you cant do trading in few years.it will take a long time. Keep your day job and keep trading forex in...
yinyang,

Trading is (and has been for the last 12 years) my day job albeit not in forex. I merely dabble in forex (relatively speaking) and I do think that getting an edge in forex is harder than e.g. stocks/options but it doesn't mean it is not possible.
Quoting AimHigher
{quote} yinyang, Trading is (and has been for the last 12 years) my day job albeit not in forex. I merely dabble in forex (relatively speaking) and I do think that getting an edge in forex is harder than e.g. stocks/options but it doesn't mean it is not possible.

I agree with your point.i never said forex is hard to master.it takes lot of patience and commitment to win in this.thats all.im sure you know what i'm talking about.cheers
Quoting kickme
I think the real question is are you reliable. Will you chase every $97 indicator that comes to your in box almost daily. Will you tale the negativity that is all over the forums? Will you believe the statements that brokers hunt for stops or that the "big dogs" really exist. Forex is a speculative market. That means that the "big dogs" aren't trading daily. Has anyone noticed how the US market is almost dead everyday after London goes home. Did you ever wonder why? Because the US practically shut down retail forex trading with regulation. When...

Very True !
Totally a different feeling when u handle your live account
the feeling of sitting in front of your monitor and seeing
your hard earned money getting ripped off in a whole new level.
  • Post #75
  • Quote
  • Edited at 3:16am Nov 14, 2013 2:33am | Edited at 3:16am
Quoting AimHigher
{quote} MapleLeaf, The bet that I have to make $3,000 EVERY month, I would never take since by simple randomness,...
I completely agree; the distribution of wins and losses are random so it would not be realistic to set a profit target for every month. Setting a profit target for a large number of trades or for a year it is more realistic.

Here is a perfect example: http://www.fxmaster.net/history/smshistory.html . As you can check fxmaster.net had lots of losing months but they have always been coming out with a win at the end of each year for the past 10 years.

However, please do not get too excited and rush to take out a subscription. Again, as you can see, in 2006 they've lost 1010 pips in two consecutive months. 1010 pips may be nothing for a large account but if your account is small and you have to trade enough so you can cover the fees and make profit 1010 pips could wipe out your account. In other words: fxmaster.net performance is NOT for small accounts!

As a loyal customer though I can ensure you that their results are 100% accurate.
I think if I ask myself: "Am I reliable??", it will hard to answer)) How I can think that the fx is reliable when I don't know it's absolutely? I think this question is abstract and it will have an absract asnwer))
Quoting FX_James
forex is 5+ trillion $ business in a day so it may difficult to get profit from your $10k investment
Huh? Can you expand on that..would be interested to know that..
Quoting Forexnuts
{quote} Huh? Can you expand on that..would be interested to know that..
i mean more than 1% daily profit is difficult
Quoting FX_James
{quote} i mean more than 1% daily profit is difficult

With this "clarification" your original statement makes even less sense. If you earn 1% per day, with 252 (approximately) trading days in a year, that would equal an annualized return of 1127%. Do that for three years (assuming no taxes) and your 10,000 would grow to over $18,000,000.

This is an overly simplified scenario since it doesn't factor in the negative effect on compounding from having losing days but regardless, making a high % return should be easier with a small account e.g. $10,000 than it is with a large account. I still don't get what your point is with your original statement. Is it that a large market like forex is so competitive that getting an edge is difficult? Is so, that would be true regardless of your account size.
Quoting AimHigher
{quote} With this "clarification" your original statement makes even less sense. If you earn 1% per day, with 252 (approximately) trading days in a year, that would equal an annualized return of 1127%. Do that for three years (assuming no taxes) and your 10,000 would grow to over $18,000,000. This is an overly simplified scenario since it doesn't factor in the negative effect on compounding from having losing days but regardless, making a high % return should be easier with a small account e.g. $10,000 than it is with a large account. I still don't...

rightly said Aimhigher.most of the traders come to this business just by looking at those excel figures and go broke later....those calculation stays only on the excel sheet
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