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I've figured out why so many people lose money in Forex

  • #321
  • Feb 28, 2015 2:02am Feb 28, 2015 2:02am
The NFA is helping the US market by keeping Forex traders alive longer. Study after study has proven that the lower the leverage, the less likely that an account blow up will happen. Just imagine trying to blow up your account with 1x leverage. Overseas brokers tend to have traders who have been blown up their accounts many times and end up depositing 50 bucks for a new account because that's all they have left. Just as important as a percentage gain is the dollar amount gained. 100% of 20 bucks is only 20 bucks. You would've made more working at Mcdonald's than spending hours staring at a computer screen.

Quoting Profit Daily
By the way, Chris. I funded TradersWay Thursday. Very impressed. Other than the obvious restriction free conditions, spreads, commission and execution are also better than any US broker. Only made 20% today, albeit with a deposit that wouldn't have even allowed me to open any of the position sizes I traded today if it was a US broker.
GJ You just won enough money to buy a dinner for 5 at Sizzler.

You're GAMBLING because you gained 20% in a day. You're just as likely to lose 25% the next day. You WILL lose your account trading that recklessly so it doesn't matter if you gained 20% today.
  • #322
  • Feb 28, 2015 2:35am Feb 28, 2015 2:35am
I make money
  • #323
  • Feb 28, 2015 4:15am Feb 28, 2015 4:15am
Quoting replaced
Just as important as a percentage gain is the dollar amount gained. 100% of 20 bucks is only 20 bucks. You would've made more working at Mcdonald's than spending hours staring at a computer screen.
Isn't it interesting. When one start learning forex they tell him it is all about pips. Let's talk pips so we can all talk about the trading but with different lot sizes. When you start collecting pips they tell you it is not about pips but abaout RR and % earned. When you fix that they tell you it is not about % it is about how much you earned in USD. Any comment on my stats? Deposit was 18 USD I already took out 100. How fast do you think I am going to blow it?
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  • #324
  • Feb 28, 2015 4:49am Feb 28, 2015 4:49am
Quoting TimTheTrader
{quote} Trading is not for everybody, some of us are gifted while the rest are extremely incompetent and say things like you out of frustration because they see no progress. You say it "It takes years to learn how to trade and become profitable", Well I only studied FOREX for seven months and I just began trading at the beginning of this month, and I am more profitable than those who have studied for 10 years You say "there is no way you can make money day trading using M15, H1 or H4 charts", Well I trade of 1min...
Nice results... for a few weeks. But I wouldn't brag. This game has a strong habit of dishing out reality checks. Stay humble .
  • #325
  • Edited 7:41am Feb 28, 2015 7:25am | Edited 7:41am
Quoting replaced
The NFA is helping the US market by keeping Forex traders alive longer .... Study after study has proven that the lower the leverage, the less likely that an account blow up will happen. .... You're GAMBLING because you gained 20% in a day.
And there it is folks. The bottom line here. Me thinks you shouldn't play poker as you've just tipped your hand.

Let's play a little game of logic here shall we? It's called putting the pieces together.

1) Brand new member comes out espousing the dangers of trading by incorrectly comparing it to gambling. (I know, whether by choice or not, for "some" it is)
2) Says he has a "calculator" <----- LOL that proves it.
3) Shown time and time again by real traders how wrong he is.
4) None of that matters, we're all still gamblers. So on with the incorrect comparisons to things like coin flipping and roulette.
5) Assumes a member's 20% in one day is only enough for a dinner at sizzler and tries to make fun of him screaming he's a GAMBLER.
6) Now comes out in defense of the NFA?? Seriously?? Hmmmmm .... (Big Ace up your sleeve revealed here)
7) Claims "Study after study" has "proven" his point on leverage. Really? Can he show the sources? But FAR more importantly, "the root of the money" behind such "studies" if they exist?
8) Says you'd be better off working at McDonalds. Interesting pick since burger flipping is about the most widely available job in the states now thanks to NFA type minded people.
9) Has defended the Br0kers going belly up as being the least possible cause to a trader loosing money. And thus advocates we keep larger sums with them to what? "Gamble" <---?? even bigger?

Summary:

To me, it's becoming rather obvious this member works for either (or both), the NFA or a broker caught up in and gone (or going) belly up from the SNB mess due to "THEIR" poor risk model used and are now screaming for and implementing (at the behest of themselves using the NFA dog as the strong arm), lower leverage across the board. Thus "eliminating" anyone of more humble means from learning and growing this "business".

And of course, the McDonalds reference is complete crap too. Let's assume that trader did make 20% in a day. Let's assume that's a normal day. Let's assume the trader compounds. (lot of assumptions I know but, not if you're really a good trader) In that case, the trader is getting a "per hour" pay raise everyday. Can you do that at McDonalds?

And just for fun and little "subliminal" message and or Freudian slip, Picks a name like "Replaced" which, several br0kers and their employees if not already, will soon be.

Hmmmm ... ... Jason Rodgers from FXBS, is this YOU?
Ghost Rider - WWTBMD?
  • #326
  • Feb 28, 2015 7:39am Feb 28, 2015 7:39am
Quoting FX-Petra
This concept has been discussed, at length, many times. Here is a thread from a few years ago: http://www.forexfactory.com/showthread.php?t=191230 Regards,
Hi Petra, good to see you post again. Hope you're doing well and wish you many more years of profitable trading. That thread of yours is a real eye-opener, it's a pity most will never get it
  • #327
  • Feb 28, 2015 7:48am Feb 28, 2015 7:48am
Quoting jen101
{quote} Nice results... for a few weeks. But I wouldn't brag. This game has a strong habit of dishing out reality checks. Stay humble .
Jen!! ... Good to see you darlin.
Ghost Rider - WWTBMD?
  • #328
  • Feb 28, 2015 7:48am Feb 28, 2015 7:48am
Quoting albchr
{quote} And there it is folks. The bottom line here. Me thinks you shouldn't play poker as you've just tipped your hand. Let's play a little game of logic here shall we? It's called putting the pieces together. 1) Brand new member comes out espousing the dangers of trading by incorrectly comparing it to gambling. (I know, whether by choice or not, for "some" it is) 2) Says he has a "calculator" <----- LOL that proves it. 3) Shown time and time again by real traders how wrong he is. 4) None of that matters, we're all still gamblers....
Hello Chris Yes, if you can't trade, then high leverage = die faster; low leverage = die slower. Which would you rather? If you are profitable, none of it matters. Let's not forget, money with a broker is risky too. I hear Alpari UK clients are yet to get their money back and KPMG are swallowing £2mil to dissolve it, lol. Personally, I'd rather keep my money in the bank and less with a broker and use high leverage.
  • #329
  • Feb 28, 2015 7:52am Feb 28, 2015 7:52am
Quoting albchr
{quote} Jen!! ... Good to see you darlin.
Chris, I'll visit your thread again when I've learnt to trade
  • #330
  • Feb 28, 2015 7:58am Feb 28, 2015 7:58am
Quoting jen101
{quote} Hello Chris Yes, if you can't trade, then high leverage = die faster; low leverage = die slower. Which would you rather?
Given a choice? Ohhhh .... .... neither?
Quoting jen101
{quote} Chris, I'll visit your thread again when I've learnt to trade
Please do sweetie. I can always use to learn more about gamb .... errr ... ummm ... trading. ...
Ghost Rider - WWTBMD?
  • #331
  • Feb 28, 2015 8:03am Feb 28, 2015 8:03am
Quoting Asw
Most people lose money because they don't know what they are doing, they are bullshitted how to trade by these self appointed guru's. They talk the same old bullshit, that doesn't even come close to teaching how to trade. It takes years to learn how to trade and become profitable, not a 4 hour course or a webonaire on the Internet. Then when you do learn, the criminal brokers are there to throw all the tricks at you to relieve you of your cash. I'll also guarantee there is no way you can make money day trading using M15, H1 or H4 charts, what you...
TRUE > Most people lose money because they don't know what they are doing, they are bullshitted how to trade by these self appointed guru's.

TRUE > It takes years to learn how to trade and become profitable, not a 4 hour course or a webonaire on the Internet.

FALSE > Then when you do learn, the criminal brokers are there to throw all the tricks at you to relieve you of your cash. I'll also guarantee there is no way you can make money day trading using M15, H1 or H4 charts, what you make today, the criminals will get back the next day and more.

TRUE > With hard work, it is possible to win on a continual basis.............
The More You Learn, The More You Earn.....
  • #332
  • Feb 28, 2015 8:05am Feb 28, 2015 8:05am
Quoting srt
{quote} Too funny. I personally know a millionaire who'll consistently double a $50K account in less than 6 weeks trading futures charts 1H & lower.

TRUE > this is easily done with experience...................

I have experienced doubling in 3 1/2 weeks in Forex...........
The More You Learn, The More You Earn.....
  • #333
  • Feb 28, 2015 9:17am Feb 28, 2015 9:17am
Quoting forexalien
{quote} FALSE > Then when you do learn, the criminal brokers are there to throw all the tricks at you to relieve you of your cash. I'll also guarantee there is no way you can make money day trading using M15, H1 or H4 charts
I disagree. Most of the trads I open are based on 5M chart. I DO look at all time frames but 5M is the very important one for my way of trading.
  • #334
  • Feb 28, 2015 9:36am Feb 28, 2015 9:36am
Quoting jen101
{quote} Hello Chris Yes, if you can't trade, then high leverage = die faster; low leverage = die slower. Which would you rather? If you are profitable, none of it matters. Let's not forget, money with a broker is risky too. I hear Alpari UK clients are yet to get their money back and KPMG are swallowing 2mil to dissolve it, lol. Personally, I'd rather keep my money in the bank and less with a broker and use high leverage.
Yes, there is another one who gets it. pretty soon, everyone will get it and all US brokers will be "replaced"
  • #335
  • Feb 28, 2015 9:39am Feb 28, 2015 9:39am
Quoting IndigoPingvi
{quote} I disagree. Most of the trades I open are based on 5M chart. I DO look at all time frames but 5M is the very important one for my way of trading.
Alien is agreeing with you, not disagree. He is claiming the statement that it can't be done as FALSE.
  • #336
  • Feb 28, 2015 9:45am Feb 28, 2015 9:45am
Quoting replaced
The NFA is helping the US market by keeping Forex traders alive longer. Study after study has proven that the lower the leverage, the less likely that an account blow up will happen. Just imagine trying to blow up your account with 1x leverage. Overseas brokers tend to have traders who have been blown up their accounts many times and end up depositing 50 bucks for a new account because that's all they have left. Just as important as a percentage gain is the dollar amount gained. 100% of 20 bucks is only 20 bucks. You would've made more working at...
Have you checked any of the traders threads I directed you to. It seems to me your sole purpose here is to prove trading cannot be done, it is gambling, etc. Sorry to say, you look like a complete idiot doing it as there are now quite a few people countering your argument....and their argument is correct. If you haven't checked the threads I directed you to, you are not here to learn to trade, but to support whatever agenda you have, which nobody wants to hear.....we are to busy trading and making money.
  • #337
  • Feb 28, 2015 9:50am Feb 28, 2015 9:50am
Quoting Profit Daily
{quote} Alien is agreeing with you, not disagree. He is claiming the statement that it can't be done as FALSE.
... Yes he was. Alien knows.

For me it's really simple. I don't care if I'm going into a 4H and up longer term position or a 1H and down intraday/scalp.

Larger TF's for direction + smaller TF's for entry = tighter stop losses and less risk. I'll drill down to 5M, 1M, and even 34 ticks or less to nab a good entry price.
Ghost Rider - WWTBMD?
  • #338
  • Feb 28, 2015 10:41am Feb 28, 2015 10:41am
Quoting IndigoPingvi
{quote} I disagree. Most of the trads I open are based on 5M chart. I DO look at all time frames but 5M is the very important one for my way of trading.
If this works for you, Great!
In a full day there are 95 or 96, M15 bars , more then enough bars to make day trading money. and you use the H4 and the H1 going the same direction as your M15 trade, wins are normally on your side..............

Thanks for replying..............
The More You Learn, The More You Earn.....
  • #339
  • Feb 28, 2015 1:10pm Feb 28, 2015 1:10pm
Overleveraging is a killer, to be sure. But overpositioning is not the main problem. Most traders lose because THEY DO NOT KNOW HOW TO TRADE ! They look at stupid indicators, run stupid EAs because they're too f**king lazy to study economics , learn market fundamentals, and understand how the game is played.
  • #340
  • Feb 28, 2015 2:44pm Feb 28, 2015 2:44pm
Quoting IndigoPingvi
{quote} Isn't it interesting. When one start learning forex they tell him it is all about pips. Let's talk pips so we can all talk about the trading but with different lot sizes. When you start collecting pips they tell you it is not about pips but abaout RR and % earned. When you fix that they tell you it is not about % it is about how much you earned in USD. Any comment on my stats? Deposit was 18 USD I already took out 100. How fast do you think I am going to blow it? {image}
You have had accounts that have obviously been blown many times. If you've been gaining 100%-1000% consistently, you wouldn't bother trying to start off trading with 18 USD. A homeless man on the street has made more than you with all the time you've spent.

Why don't you stick with ONE account and stop using custom starts and ages. Your pic is equivalent to a gambler playing the slots, losing for 10 months, then finally winning and then showing off how they won 80 bucks after losing 50 grand.
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