95% traders go broke, only 5% survive | Page 18 | Forex Factory

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95% traders go broke, only 5% survive

  • #341
  • Mar 12, 2014 10:15pm Mar 12, 2014 10:15pm
This guy can't even do a profit trading DEMO.

Damn, life must be harsh for you Makiavelli. In some way I understand your indecent pay job as a poster. You need to bring some food to the table.

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The Black Swan: The Impact of the Highly Improbable
  • #342
  • Mar 12, 2014 10:48pm Mar 12, 2014 10:48pm
Shhhh... just sit back and enjoy the song.
"To hold, you must first open your hand. Let go." - Lao Tzu
  • #343
  • Mar 13, 2014 4:11am Mar 13, 2014 4:11am
This thread looks out of the way
  • #344
  • Mar 13, 2014 9:40am Mar 13, 2014 9:40am
Quoting hanover
{quote} Claudia, Very brave of you to even mention the word "win" in this thread! LOL. Anyway, nice to see that one of my EAs is profitable, even if the settings require some manual intervention. Keep up the great work. I'll definitely stop by your thread some time. David
Laughing my head off with a glass of wine. Not like you to let people get to you but it is a funny thread for sure! No offence to anyone lol.
  • #345
  • Mar 13, 2014 10:13am Mar 13, 2014 10:13am
Hi,
As a 1 year trader in binary trading I have lost my shirt, some 13 grand of my 401K . I wish in the beginning that I had found a good broker, and did my homework and research. I was hard headed and did this on my own. This is my first post on a forum. I'm looking to gain the knowledge and
work hard with a broker that will gave me insight on pitfalls of this market.
The economy hasn't changed since 2008. I just started a new career in tractor trailer driving at 57 after being laid off for the last 8 months
from my job of 26 yrs. I want to change the out come my families future. The story go on, like so many. After losing my 401k money, I still believe that the trading market can and will change my future. I know I can't do this without a good broker, but I'm looking to change........Thanks for listening, BK
  • #346
  • Mar 13, 2014 10:18am Mar 13, 2014 10:18am
Quoting MapleLeaf
{quote} For your information, David AKA Hanover (German City, when he's actually from New Zealand, strange combination, huh?), well David does not trade... He never did a living trading live, and I seriously doubt he even did a few bucks with it. And you say that he helps people? Someone who doesn't trade? Very strange and odd way to consider who is helping who...
He gave free EAs and/or indicators for MT4 allegedly, that is 'helping'.
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #347
  • Mar 13, 2014 10:25am Mar 13, 2014 10:25am
Quoting southpa
Hi, As a 1 year trader in binary trading I have lost my shirt, some 13 grand of my 401K . I wish in the beginning that I had found a good broker, and did my homework and research. I was hard headed and did this on my own. This is my first post on a forum. I'm looking to gain the knowledge and work hard with a broker that will gave me insight on pitfalls of this market. The economy hasn't changed since 2008. I just started a new career in tractor trailer driving at 57 after being laid off for the last 8 months from my job of 26 yrs. I want to change...
Go to Babypips.com and do their school of pipsology.
Then do demo trading until you can make money.
Then do a live account with $500.
....when you can make money with your own real dollars you can consider moving up.
GL.
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #348
  • Mar 13, 2014 10:38am Mar 13, 2014 10:38am
Quoting southpa
Hi, As a 1 year trader in binary trading I have lost my shirt, some 13 grand of my 401K . I wish in the beginning that I had found a good broker, and did my homework and research. I was hard headed and did this on my own. This is my first post on a forum. I'm looking to gain the knowledge and work hard with a broker that will gave me insight on pitfalls of this market. The economy hasn't changed since 2008. I just started a new career in tractor trailer driving at 57 after being laid off for the last 8 months from my job of 26 yrs. I want to change...
A sewer rat would soon come online to tell you some interesting tales of how its impossible to make money in this market. Just hold on a little bit for tutorials
  • #349
  • Mar 13, 2014 10:47am Mar 13, 2014 10:47am
pity, man, when i look back my 8 years exploration, i'd often told myself, if i knew this path being so hard, i'd stopped and turned to something else at the very beginning (that might be much easier).

you need to be prepared for much further loss down the road, not only your money, but also your time/energy/family relation; and the opportunities that you let go because you have to focus on trading (well, focus on trading is a necessary condition at least). that mapleleaf has a sense that this is indeed very very hard and time-consuming.

think it over and make a well-done decision, and good luck.

Quoting southpa
Hi, As a 1 year trader in binary trading I have lost my shirt, some 13 grand of my 401K . I wish in the beginning that I had found a good broker, and did my homework and research. I was hard headed and did this on my own. This is my first post on a forum. I'm looking to gain the knowledge and work hard with a broker that will gave me insight on pitfalls of this market. The economy hasn't changed since 2008. I just started a new career in tractor trailer driving at 57 after being laid off for the last 8 months from my job of 26 yrs. I want to change...
  • #350
  • Mar 13, 2014 11:51am Mar 13, 2014 11:51am
Quoting Makavell
{quote} A sewer rat would soon come online to tell you some interesting tales of how its impossible to make money in this market. Just hold on a little bit for tutorials
I'm sure we will also see that fictitious 99.6% number as well....Can't wait
  • #351
  • Mar 13, 2014 3:39pm Mar 13, 2014 3:39pm
My success partly depends on what timeframe I'm trading. Here are my approx. success rates (guess) by timeframe:

1 minute: 40%
5 minute: 60%
15 minute: 70%
30 minute: 80%
1 hour: 90%

I don't trade any longer than 1 hour timeframe. I don't know how to explain it but the market seems a bit more "flowy" during the longer timeframes.
Any advice I provide should not be considered a financial recommendation.
  • #352
  • Mar 13, 2014 8:24pm Mar 13, 2014 8:24pm
Quoting jakebvt
I don't know how to explain it...
You can't... There is no explanation for a gambling based scheme.

FOREX, as well as Casinos, is Pure Randomness...

You may win one trade, two, or three... You may finish one month with profit, or even a quarter... And then you will be all enthusiastic, posting in forums, and thinking that you found the way to make a lot of money... You may think that you found the right indicators and the right way to trade, you may thank james16 or that "diallist" (Scrooge McDuck) and may even pay to join their private COMMERCIAL forum, or whatever, thinking that they helped you... or that you reached step #5 of that ridiculous and funny guide (Unconscious Competence) to motivate people to lose more money. That guide of 5 steps is just another non-sense propaganda pro-FOREX to keep people trapped into this scheme.

The important point is long term. And long term, you will lose like 99.6% of people...
The Black Swan: The Impact of the Highly Improbable
  • #353
  • Mar 14, 2014 12:14am Mar 14, 2014 12:14am
Quoting MapleLeaf
{quote} You can't... There is no explanation for a gambling based scheme. FOREX, as well as Casinos, is Pure Randomness... You may win one trade, two, or three... You may finish one month with profit, or even a quarter... And then you will be all enthusiastic, posting in forums, and thinking that you found the way to make a lot of money... You may think that you found the right indicators and the right way to trade, you may thank james16 or that "diallist" (Scrooge McDuck) and may even pay to join their private COMMERCIAL forum, or whatever, thinking...
If you believe its gambling than its gambling.... end of story.

But, I would just like to ask you one question ......
What is it inside you that just makes you come back again and again on this forum , even if you know that its impossible to make money in Forex as its gambling scheme just likes casinos. ?
  • #354
  • Mar 14, 2014 12:53am Mar 14, 2014 12:53am
Quoting ronaleo10
{quote} If you believe its gambling than its gambling.... end of story. But, I would just like to ask you one question ...... What is it inside you that just makes you come back again and again on this forum , even if you know that its impossible to make money in Forex as its gambling scheme just likes casinos. ?
He just can't help it cause he's a sewer rat
  • #355
  • Mar 14, 2014 1:17am Mar 14, 2014 1:17am
Quoting southpa
Hi, As a 1 year trader in binary trading I have lost my shirt, some 13 grand of my 401K . I wish in the beginning that I had found a good broker, and did my homework and research. I was hard headed and did this on my own. This is my first post on a forum. I'm looking to gain the knowledge and work hard with a broker that will gave me insight on pitfalls of this market. The economy hasn't changed since 2008. I just started a new career in tractor trailer driving at 57 after being laid off for the last 8 months from my job of 26 yrs. I want to change...
I have about twelve different alarm bells ringing in my head reading this post. Trading isn't for everyone, I think you really need to consider other options. Go to a brick and mortar investment advisory service and ask for advice, your post here is the beginning of a trading horror story.
si hoc legere scis nimium eruditionis habes
  • #356
  • Mar 14, 2014 1:27am Mar 14, 2014 1:27am
Quoting southpa
Hi, As a 1 year trader in binary trading I have lost my shirt, some 13 grand of my 401K . I wish in the beginning that I had found a good broker, and did my homework and research. I was hard headed and did this on my own. This is my first post on a forum. I'm looking to gain the knowledge and work hard with a broker that will gave me insight on pitfalls of this market. The economy hasn't changed since 2008. I just started a new career in tractor trailer driving at 57 after being laid off for the last 8 months from my job of 26 yrs. I want to change...

Southpa..

I can see you have lost lot of money.401k is a lot of money to lose in a very short time.I don't know what gave you the confidence to lose to so much money.I think forex is not for you.If anyone is still not making money even after 5 yrs of looking at the chart.Then there is a pschological problem.It could take even 20 yrs to master that or you may not ever master it.Its all within...watch it.
  • #357
  • Mar 14, 2014 2:52am Mar 14, 2014 2:52am
Quoting ronaleo10
{quote} If you believe its gambling than its gambling.... end of story. But, I would just like to ask you one question ...... What is it inside you that just makes you come back again and again on this forum , even if you know that its impossible to make money in Forex as its gambling scheme just likes casinos. ?
  • #358
  • Mar 14, 2014 5:35am Mar 14, 2014 5:35am
Quoting MapleLeaf
{quote} You can't... There is no explanation for a gambling based scheme. FOREX, as well as Casinos, is Pure Randomness... You may win one trade, two, or three... You may finish one month with profit, or even a quarter... And then you will be all enthusiastic, posting in forums, and thinking that you found the way to make a lot of money... You may think that you found the right indicators and the right way to trade, you may thank james16 or that "diallist" (Scrooge McDuck) and may even pay to join their private COMMERCIAL forum, or whatever, thinking...
I suspect you just haven't figured out a strategy that works for you yet. Forex is not gambling, it's surprisingly predictable. Granted, it's a survival of the fittest game. Smart traders learn how to predict the market better than the newbies. How do you mean I will lose in the long term?... I'm already winning in the long term. Don't post your anti-forex drivel just because the markets haven't worked in your favor. Let's face it, you're probably just not cut out for currency markets. You're darn right I'm enthusiastic since I generate more wealth now than I did when I was salaried. Will a lot of people lose? Yes. Will a select few win? Yes. Just join the winners or leave. Don't bash on people who make money in forex.
Any advice I provide should not be considered a financial recommendation.
  • #359
  • Edited 7:53am Mar 14, 2014 7:38am | Edited 7:53am
Quoting southpa
. After losing my 401k money, I still believe that the trading market can and will change my future.
The market can and will change your future just as you believe.

I knew a very good trader. Female, mid twenties, Muslim background, middle class, educated. lived in Lebanon with her parents. She inherited $200k from her grandfather, who had owned land. We traded together, shared analysis and ideas. I saw her regularly take profit trading 3 weeks of the month and taking the fourth week off. I learned a lot from her

Then, after about two and a half years, she got caught in a short squeeze on the Euro. Instead of taking the loss like she always had done, she continued to back her belief about the future and started to trade like me. Finally, after doubling down a number of times over about 4 months and 700 pips, her entire account was gone. She had lost her inheritance that was entrusted to her to make her future with. She was disowned by her family.

She had to take a crappy job to pay for a crappy apartment. The bosses demanded sexual favours so she lost her crappy job and then her crappy flat. Fortunately a friend took her in but she had to sleep in the car cause of some religious idea about her not being able to sleep under the same roof as her friend's brother. She was never going see that sort of money again. She said her life was over. I told her she had to go back to her family. She said I didnt understand, she had dishonored her family and it was just not possible. It was about that time I lost contact with her

Of course your outcome will be different. Your special and better than that. Why dont you take mapleleafs challenge using the rest of your 401k for a bonus pay check on top of your returns?

I advise you to forget your 13k loss and forgive yourself for your foolish belief that easy money could come that way. Be grateful everyday for your family. Go fishing with your grand kids. Forget you ever saw forex. Spend the rest of your life looking for opportunities to give love instead of take profit.
BTC Return This Year: na
  • #360
  • Mar 14, 2014 7:46am Mar 14, 2014 7:46am
Quoting M.A.C.Doug
{quote} The market can and will change your future just as you believe. I knew a very good trader. Female, mid twenties, Muslim background, lived in Lebanon. She inherited $200k from her grandfather, who had owned land. We traded together, shared analysis and ideas. I saw her regularly take profit trading 3 weeks of the month and taking the fourth week off. I learned a lot from her Then, after about two and a half years, she got caught in a short squeeze on the Euro. Instead of taking the loss like she always had done, she continued to back her...
wow this actually happened? it's hard to believe she did not use stop loss?

how come you didn't take her under your roof?
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