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Too Many Lies In The Forex Trading World!

  • #21
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  • Apr 8, 2014 12:15am Apr 8, 2014 12:15am
Quoting dare123
The bottom line, You can never make cool money obeying 95% of those forex theories.
Agree 99.6% MapleLeaf are you with me?
  • #22
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  • Apr 8, 2014 1:09am Apr 8, 2014 1:09am
i know this case 7 years ago, this is broker game. i know a big secret on trading that why i always win
  • #23
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  • Edited 1:47am Apr 8, 2014 1:36am | Edited 1:47am
Quoting dare123
{quote} The Holy Grail is actually in your discovery.
That's the closest one can come to a Holy Grail. I guess you could say it is the Holy Grail in some way. However, there will never be a sure fire way to predict future price. Unless you're in bed with Janet Yellen.
  • #24
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  • Apr 8, 2014 1:46am Apr 8, 2014 1:46am
Quoting 2+2=4ex
Unless you're in bed with Janet Yellen.
MT4/MT5 EAs/Indicators/Alerts coder
  • #25
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  • Apr 8, 2014 2:47am Apr 8, 2014 2:47am
Quoting squawk
{quote} Hi RTM, Unless you have no idea then your stuffed. But seriously as you said the only way to succeed is to trust yourself and your decisions thinking interdependently of others. Cliche but the only way this can happen is, screen time, hard work and a decent tested sample size of your trading ideas for your strategies to give you the confidence.
Yes who ever said anything worth while in life was easy? If you want to achieve the results in a profitable life you need some good work. Chart reading and understanding price is a skill, and a mindset. I dont know what you really meant with your post but I can relate to the hard work part in the sense how you need to train your mind with the market.
All posts are my personal opinion
  • #26
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  • Apr 8, 2014 3:11am Apr 8, 2014 3:11am
An easier way to hack all these "theories" is to ignore them and do your thing. Develop your own strategies and learn to ignore every new thing that you hear/read every new day.
  • #27
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  • Apr 8, 2014 3:22am Apr 8, 2014 3:22am
Quoting Danny Maina
An easier way to hack all these "theories" is to ignore them and do your thing. Develop your own strategies and learn to ignore every new thing that you hear/read every new day.
  • #28
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  • Apr 8, 2014 3:57am Apr 8, 2014 3:57am
Quoting Danny Maina
An easier way to hack all these "theories" is to ignore them and do your thing. Develop your own strategies and learn to ignore every new thing that you hear/read every new day.
Another IMPORTANT TIP: Invert (turn upside down) all you have read/heard. Tell me what you see.
I bet, you have never thought of this before.

Buy when they say sell and vice versa.
heck, they said: buy/sell when the MACD indi crosses the zero line. But, price begins to fall even before the MACD gets to the zero line. Same for longs. Think about this.
Determine The Market Condition; then trade it!
  • #29
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  • Apr 8, 2014 4:18am Apr 8, 2014 4:18am
Quoting pammPROF
{quote} Another IMPORTANT TIP: Invert (turn upside down) all you have read/heard. Tell me what you see. I bet, you have never thought of this before. Buy when they say sell and vice versa. heck, they said: buy/sell when the MACD indi crosses the zero line. But, price begins to fall even before the MACD gets to the zero line. Same for longs. Think about this.
You made me laugh!!!!!!!
  • #30
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  • Apr 8, 2014 4:30am Apr 8, 2014 4:30am
Charts don't lie.


Quoting Jhig
OP, if you're looking for an argument you've come to the wrong place. I completely agree with your sentiment. Indicators. Lie! Trend. Lie! Charts. Lie! S/R. Lie! It took me a while to figure it. Everything listed above is based off past data. Sorry to be the bearer of bad news to the folks who rely on said methods but the above methods do not work in the real market. No matter what that market is (i.e. forex, futures, equities, options, etc). In addition, prediction doesn't work either. Constantly see traders making cast-iron market predictions...
  • #31
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  • Apr 8, 2014 5:04am Apr 8, 2014 5:04am
Anybody can make positive returns in trading forex. The problem is that this return is not enough for most to "live from trading". Most profitable trader's returns converge to around 8-9%/year over time (which is a bit below the stock market average). Sorry but this is simply the truth. The more market cycles you are exposed to the less likely you will be consistently right in adjusting to market changes.

I mean how much return would expect from a business that is this efficient with this much competition.
  • #32
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  • Apr 8, 2014 6:01am Apr 8, 2014 6:01am
The biggest problem in Forex is the amount of "agents" around to support "good old" lies. Take the big names here on FF, the so called "high impact" traders. They all trade in the past. They come and post about what they DID 99% of the time. When you say you DID something, it becomes really easy to get out at break even. Anyone can trade the last hour bar. It is so easy to say you got in a trade 1 minute ago, just look at the last minute candle. If it is a 5 pip candle you are already 5 pips in profit. If it keeps going you just keep reporting gains. If it goes in the wrong direction you claim you got out at break even. Thats called trading the past, anybody can play this kind of game in forums because of the inherent delay of typing and posting. And the noobs read it, believe it, and go nuts because they can't trade like the " high impact trader"!! When in truth the only thing getting bigger on the " high impact trader" side is the ego not the account.
So, you think you have rights? LOL
  • #33
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  • Apr 8, 2014 6:12am Apr 8, 2014 6:12am
Quoting 60minuteman
sorry couldn't resist https://www.youtube.com/watch?v=_GdiZLdD-24
One of my favourites, spot on with the thread
  • #34
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  • Apr 8, 2014 6:34am Apr 8, 2014 6:34am
Quoting ForexOracle
The biggest problem in Forex is the amount of "agents" around to support "good old" lies. Take the big names here on FF, the so called "high impact" traders. They all trade in the past. They come and post about what they DID 99% of the time. When you say you DID something, it becomes really easy to get out at break even. Anyone can trade the last hour bar. It is so easy to say you got in a trade 1 minute ago, just look at the last minute candle. If it is a 5 pip candle you are already 5 pips in profit. If it keeps going you just keep reporting gains....
... and they are all on demo or on 1 cent accounts...
  • #35
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  • Apr 8, 2014 6:35am Apr 8, 2014 6:35am
Well some of those sayings are useful. "Like if in doubt get out" and "use proper money management". Those two sayings, in my experience, have nearly always saved my bacon when I obeyed them and punished me when I didn't.

Oh yeah stop loss too. Not using is a sure way to going broke instead of just losing a little of your money. Risk reward stuff I have to agree. I have been using strategies that use more risk for less reward and that's actually more profitable than those "breakout" types that use 1:3 or higher. But who knows maybe those will come back when there's fear in the market again (eg another financial crash or Ukraine thing turns into WW3).
  • #36
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  • Apr 8, 2014 7:05am Apr 8, 2014 7:05am
Well, if you think for a minute - the whole financial market is one big "play me, play you" field. It is not a scientific ground where common gaining is built-up. It resembles a closed pit with wolves - some bigger, some fiercer. So when you jump - you need to have something to distinguish from the crowd - some hidden weapon. Often - it is enough to have some little patience and prudence.

And why you believe in this common "lie" that market should benefit all parties?!
  • #37
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  • Apr 8, 2014 7:38am Apr 8, 2014 7:38am
Quoting dare123
Dear Traders, I have observed with time that all theories about trading are for theories sake. You can never make real money obeying them. I wonder why. All the EMA crossovers are lies, Oversold and Overbought are lies, the use of stop-loss to minimize your loss is a lie. I might sound wrong but that is my observation. You must do something different! The bottom line, You can never make cool money obeying 95% of those forex theories. Please traders share your experiences with us and let us rub minds. Regards Happy Trading!!!
Theories about trading will stay as theories until proven/disproven. Problem is that most people don't have the ability to test theories over a large enough sample size - so a reasonable answer is never found!

Different trading methods (or theories) will work in different market types - for example: when a market has been quiet for a long time and is increasing in volatility - breakout systems work very well. So it's important to know what is currently going on in the market to identify what theories you can accurately test.

Practical example - the EURUSD average true range has come down by about 30% since last summer, so we know that the market is less volatile and moving slower on an intra day basis. As we need volatility to make money in short timeframes - we now know that a trading method/theory/system that tries to make money in short timeframes on the EURUSD will not do as well today as it did last year.

I wouldn't go as far as to say that EMA crossovers, oversold and overbought are lies - you just have to know where to use them. I'm trying to avoid cheesy overused trading lines as much as possible but it really is a case of knowing what tool to use and where.
  • #38
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  • Apr 8, 2014 7:41am Apr 8, 2014 7:41am
Quoting Taffy
LIES? TRUTH? These do not matter in Forex Trading as it is all about INTERPRETATION of the info being presented. The Fundamentals (News) are the Science, and The Technicals (Charts) are The Art. The Profit/Loss depends on how you "read" these two, and that is what separates the 70% who fail, and the 30% who win, IMHO
Inserted Video
Howlin' at the Moon on the Roof
  • #39
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  • Apr 8, 2014 7:50am Apr 8, 2014 7:50am
Trading is like a treasure hunt only those who can decode the Map (Chart) and follow it will find it. Learn to read the Chart and every other thing will be added unto you.
  • #40
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  • Apr 8, 2014 8:14am Apr 8, 2014 8:14am
Speaking of systems what happened to yours 2+2=4ex? I remember you were trading a demo account which was up 50% at one point. I tracked that account for a while but lost interest when it went below 10% again, now it seems its not on your website anymore. Nor do you post any daily trades.
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