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Too Many Lies In The Forex Trading World!

  • #41
  • Edited 9:39am Apr 8, 2014 9:38am | Edited 9:39am
Quoting fxterrapin
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.
Thanks I now feel greatly at peace with sticking to stocks! <whilst practising in FX>

Meantime when I can be as profitable in FX using the same amount of money that I do in stocks I will make the major shift.
..until then
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #42
  • Apr 8, 2014 10:03am Apr 8, 2014 10:03am
Forex trading is a real money making venture. But you have to follow the market to make money from the market. However human psychology always wants to predict the future. I don't think you can do this accurately with all these indicators. So you have to learn to surrender to the dictates of the market and you will make money. I assure you. But if you let your ego deceive you into believing that you can accurately predict the future, then you are on your own. The market would punish you. Happy trading.
  • #43
  • Apr 8, 2014 11:46am Apr 8, 2014 11:46am
Here's an unpopular opinion:

If you want "truth" throw your money into the market and figure it out. You'll be surprised how many 1,000 page threads and systems here (on all forums, really) are run by IT professionals and college students on demo accounts. If you want truth, go risk suffering massive losses. If you want truth, don't waste money on classes or indicators; waste it trading. The losers on forums will tout that Forex is a scam and filled with lies. The winners (for the most part) are trading either tiny accounts or demo accounts, have been for years, and their only real claim to victory is maintaining a thread on a forum that lasts longer than a year and a post count that makes you wonder if they even have time to do any analysis.

When you're in business for yourself, there is no limit to the amount of people who want to tell you how to do it, usually in exchange for a fee. Learn by doing. It's easier. If you fail, and can't find it in yourself to get back on the horse, then you're in the wrong business. Come to terms with it. The only thing traipsing forums will get you is either too much unnecessary information or too much misinformation. Either way, it makes running your business more difficult. You'll constantly question yourself, you'll constantly question your methodology, you'll constantly question your broker, and you'll constantly question the market.

 

  1. You won't get rich fast - if at all.
  2. No one here will help you get rich fast - if anything, the opposite will happen.
  3. There is no holy grail; no indicator will get you rich.
  4. You'll never predict the future with 100% accuracy. If you do it a few times, don't get your hopes up.
  5. It isn't as complicated as you think.
  6. If the right way to do it was on the internet, everyone here would be rich.

You'd be surprised what you could accomplish with perseverance.

  • #44
  • Apr 8, 2014 12:09pm Apr 8, 2014 12:09pm
Who cares if you're being lied to. Just do what makes sense to you. Always do what makes sense to you. If you trade and you don't know why then you will eventually find out why you shouldn't. I don't lend money to people if i don't like or understand their reasons for wanting it. If i understand and support there reason then i GIVE it away. Either they make good on their intentions or they don't. Either way i'm fine with it because it's what i've decided. If you can trade like that then your on your way to finding your "inefficiency."
  • #45
  • Apr 8, 2014 12:20pm Apr 8, 2014 12:20pm
Profitable formulas are kept as a secret. Just notice how many people are willing to share or sale systems over the net. Why they want to do it it? Because it does not work!! If it worked they would make money out of it instead of given it away. In the real world nobody shares anything, than you go to financial sites where you are supposed to find the most competitive people in the planet and sudelly everybody is willing to share their holy grail. If it does not sound suspicious to you you, I'm sorry but you deserve to be lied to.
So, you think you have rights? LOL
  • #46
  • Apr 8, 2014 12:27pm Apr 8, 2014 12:27pm
Quoting ForexOracle
If it does not sound suspicious to you you, I'm sorry but you deserve to be lied to.
Words to live by. Seriously.
  • #47
  • Apr 8, 2014 1:10pm Apr 8, 2014 1:10pm
"All warfare is based on deception." - Sun Tzu
"To hold, you must first open your hand. Let go." - Lao Tzu
  • #48
  • Apr 8, 2014 1:46pm Apr 8, 2014 1:46pm
Quoting tashkent
Forex trading is more like an illusion. Once you understand the laws of illusion everything becomes more-less obvious. Assumed truths and lies of/about forex is just one inseparable layer of the whole puzzle.
Quoting vox dei
"All warfare is based on deception." - Sun Tzu
Quoting the two comments that nail it. Don't take them as negative comments, because illusion and especially deception have negative connotations associated with them.
  • #49
  • Apr 8, 2014 4:44pm Apr 8, 2014 4:44pm
Quoting posi2go
Forex trading is a real money making venture. But you have to follow the market to make money from the market. However human psychology always wants to predict the future. I don't think you can do this accurately with all these indicators. So you have to learn to surrender to the dictates of the market and you will make money. I assure you. But if you let your ego deceive you into believing that you can accurately predict the future, then you are on your own. The market would punish you. Happy trading.
  • #50
  • Apr 8, 2014 8:34pm Apr 8, 2014 8:34pm
"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."

Hahahaha. I Love this thread. I thought I was the only one who thought that way, those things are what the big guys use to slaughter the little guys on a daily basis, it's like playing hide and seek and the other person has his eyes wide open and can see where everyone is going, they think they are hiding but they are in plain sight just waiting to be picked off. What you have to do is try to hide where the least people are so you can be ignored.
Being a trader is lonely, but being a great trader is lonelier still
  • #51
  • Apr 10, 2014 1:35pm Apr 10, 2014 1:35pm
Just a quick one fellas, isn't is the case that every forex trader starts off with some sort of strategy that looks like scalping. it starts with fun, staying in fromt of the chart 24/7, get all the action bla bla bla
Now. I hate scalping, too much action is usually not a good sign or trading strategy, and I don’t feel comfortable staying in front of a chart more than 15 mins/every 2 or 3 hours!
What strategy you started off your forex adventure guys and what strategy did you end up with?
  • #52
  • Apr 11, 2014 3:01am Apr 11, 2014 3:01am
Quoting tedsung
i know this case 7 years ago, this is broker game. i know a big secret on trading that why i always win
What big secret? May I PM you to know more?
  • #53
  • Apr 11, 2014 3:23am Apr 11, 2014 3:23am
Quoting ShepherdL
{quote} What big secret? May I PM you to know more?
I whant to know the secret too
  • #54
  • Apr 11, 2014 4:48am Apr 11, 2014 4:48am
Quoting BogiFX
{quote} I whant to know the secret too
I am sure this secret has a price attached
  • #55
  • Apr 11, 2014 5:02am Apr 11, 2014 5:02am
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!!!

The truth is that all systems based on indicators are useless, they can produce good results for short period, but in the end they will fail. Ema cross really means nothing, it is just cross of two indicators Overbought or oversold levels can be usefull when you think of closing your position, never to open new one against strong trend. Actually, you can make long-term profit only if you trade PA and make decisions based on market situation. Follow real money, be aware that market is manipulated by big banks, get experience how, when etc. The only way to become profitable is practising hunderts of hours on demo, then start on real account with small capital (but not to small, because you will not take care of it and make stupid trades just to have some entertainment), after that if you are constatntly profitable start make money on bigger account. Finally, trading without stop loss is craziness, because you can't manage your position. How could you know what is 1% risk if you don't use stop loss? STOP LOSS IS MANDATORY IF YOU ARE NOT GROUP OF BANKS THAT MAKE ALL MOVES ON MARKET!!!!!!!!!!!!
  • #56
  • Apr 11, 2014 5:05am Apr 11, 2014 5:05am
Quoting normtold
{quote} I am sure this secret has a price attached
I think the "secret" is the price itself
How much?
  • #57
  • Last Post: Apr 11, 2014 5:14am Apr 11, 2014 5:14am
Quoting ForexOracle
Profitable formulas are kept as a secret. Just notice how many people are willing to share or sale systems over the net. Why they want to do it it? Because it does not work!! If it worked they would make money out of it instead of given it away. In the real world nobody shares anything, than you go to financial sites where you are supposed to find the most competitive people in the planet and sudelly everybody is willing to share their holy grail. If it does not sound suspicious to you you, I'm sorry but you deserve to be lied to.
TRUE!!! All systems that are being sold on the market it is crap. If you don't believe ask vendor for verified account on www.myfxbook.com. Most of EA's are crap and even if they still work they will stop soon. All magic indicators totally crap!!! And finally the best part, I haven't found any training forex program yet where so called guru could prove that he makes any money. Simple andvice, don't buy anything if vendor doesn't have minimum one-year verified by third party account. Many of these people read a lot about trading, but couldn't find way to earn money on trading, so they started to sell magic indicators, EA's, systems or training programs.
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