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Who is making profit in the forex market?

  • #61
  • Sep 12, 2015 3:56pm Sep 12, 2015 3:56pm
So I guess none in this thread makes money out of Forex as you all are trying to justify your losses

Oh and btw. Currency Futures contracts are showing exactly the same candle patterns as spot Forex...exactly the same!

Currency Futures GBP USD contract:

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cTrader ECN GBP USD:

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Meta Trader 4 GBP USD:

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Seriously people read some books and learn to trade.. No one is interested in your 1 000$.. All the hard manipulative brokers are long gone from the business.. The one left are switching or are switched to NDD model.. They are just passing your orders to their LPs..
  • #62
  • Sep 12, 2015 5:19pm Sep 12, 2015 5:19pm
Quoting Forexia
{quote} Yeah and Gain Capital is the biggest casino brokers out there even. There is a thread in the "Brokers Section" on FF started by this guy who traded with Gain Capital and made $200K in profit and Gain Capital forfeited all of it accusing that trader of "price latency arbitrage" (a favorite excuse by those casino brokers to not let you withdraw your profit even when you've made money with them) and the trader complained to the FCA in UK. And guess what? FCA sided with Gain Capital. It's so disappointing that retail brokers have become just...
Exactly
Simplicity is the key to brilliance.
  • #63
  • Sep 12, 2015 5:25pm Sep 12, 2015 5:25pm
Quoting Atokys
{quote} Oh dear. With all this in mind, why do retail traders even bother with scalping?
I am a scalper myself, but let me explain that a scalper's biggest obstacles are wide spreads and order delays (re-quotes, off-quotes...etc). In other words...execution risk...The lower the execution risk is, the better and more profitable scalper you'll be...Just to let you know, there's a special plugin for MT4 that your MM brokers are using called Anti-Scalper MT4 plugin..It's specially dedicated to ruin any scalping profits...There was a thread here on FF talking about that plugin...Check it out

http://www.forexfactory.com/showthread.php?t=546766
Simplicity is the key to brilliance.
  • #64
  • Sep 12, 2015 5:26pm Sep 12, 2015 5:26pm
Quoting merquise
So I guess none in this thread makes money out of Forex as you all are trying to justify your losses Oh and btw. Currency Futures contracts are showing exactly the same candle patterns as spot Forex...exactly the same! Currency Futures GBP USD contract: {image} cTrader ECN GBP USD: {image} Meta Trader 4 GBP USD: {image} Seriously people read some books and learn to trade.. No one is interested in your 1 000$.. All the hard manipulative brokers are long gone from the business.. The one left are switching or are switched to NDD model.. They are...
​

Hi
Actually i want to justify for losers yes i may some times be or lets say many times be one of them but my systems wins most of time ,
about futures thier brokers are few more safe you can not compare that to forex spot which brokers are less rules guarded including your money.
about my 1000 or couple of thousands if we look to number of the participated traders it will end in millions for sure which make this market big need for big banks and central banks .
no one get fooled they are much better and more safe investments out there for example buy a piece of land and wait
or open a small caffee
all have a nice day please .
focus while relaxed to see better
  • #65
  • Sep 12, 2015 5:33pm Sep 12, 2015 5:33pm
Quoting fx75
{quote} thanks .. if we cant trade with prime broker because of lack of the capital why not trading fx futures ?
Great question...The answer is: Forex futures offer lower leverage ( typical leverage is around 1:14 or 1:15 max.), it requires higher margins and maintaining futures margins is like a pain in the ass ( read about maintenance margin in Futures market.) And also futures requires a lot of money to start with...Futures is the big players playground, don't even bother thinking about futures if you have anything less than a 100K, Yes you can still trade with like 20-30k in FX Futures, but you'll be extremely under capitalized and your risk of ruin increases because you'll need to take bigger risks than usual on your money to make some decent returns which eventually leads to your financial ruin...Did I forget to mention that commissions in Futures markets could be way more expensive too ...Regards
Simplicity is the key to brilliance.
  • #66
  • Sep 12, 2015 5:45pm Sep 12, 2015 5:45pm
Quoting Inceptionist
{quote} Great question...The answer is: Forex futures offer lower leverage ( typical leverage is around 1:14 or 1:15 max.), it requires higher margins and maintaining futures margins is like a pain in the ass ( read about maintenance margin in Futures market.) And also futures requires a lot of money to start with...Futures is the big players playground, don't even bother thinking about futures if you have anything less than a 100K, Yes you can still trade with like 20-30k in FX Futures, but you'll be extremely under capitalized and your risk of...
This sounds horrible. If I have 100k why would I want to trade futures? What is the advantage? Why not just stick with spot market in forex? Just curious. Thanks looking forward to the reply.
  • #67
  • Sep 12, 2015 6:27pm Sep 12, 2015 6:27pm
Quoting Forexia
I think we should form like a trading club where a group of traders all pool our funds together and just open an account with the prime brokers which really DOES operate in a more truer ECN fashion allow access to multiple dealers. The only problem is fund division.

Well, that's a huge problem but perhaps not the only one.

I strongly suspect that you'll find (a) that this idea probably breaches many brokers' terms of service (for understandable reasons, perhaps?), and (b) that if you end up with any kind of dispute between the "co-traders", it could very easily turn into a nightmare?

The last time I looked, you needed a $10k deposit to open an account with Interactive Brokers (to trade spot forex, anyway), who are definitely real brokers, and well-established, well regulated and all the rest.
  • #68
  • Sep 12, 2015 6:45pm Sep 12, 2015 6:45pm
Quoting Gdi
{quote} This sounds horrible. If I have 100k why would I want to trade futures? What is the advantage? Why not just stick with spot market in forex? Just curious. Thanks looking forward to the reply.
Like I said before, Futures are the big guys playground...It got some perks...You get to know the real volumes of the futures contract traded on the exchange ( COT reports), If you're running a big business like a chain coffee shop or something, You may find it interesting to trade coffee futures; you can become one of the commercial traders ( trading actual goods/taking physical deliveries, securing some supplies.) or you can just be a speculator trying to catch some decent price moves to make money...Some big guys would use Futures to hedge against future uncertainty of some products or commodities prices...etc...I won't be able to mention everything about Futures here, but they do have their own advantages too, but they're harder to trade than spot Forex...You can find many resources on the internet talking about Futures markets...You can start with Investopedia or Wikipedia...Regards
Simplicity is the key to brilliance.
  • #69
  • Edited Sep 13, 2015 5:47am Sep 12, 2015 6:52pm | Edited Sep 13, 2015 5:47am
Quoting Xela
{quote} Well, that's a huge problem but perhaps not the only one. I strongly suspect that you'll find (a) that this idea probably breaches many brokers' terms of service (for understandable reasons, perhaps?), and (b) that if you end up with any kind of dispute between the "co-traders", it could very easily turn into a nightmare? The last time I looked, you needed a $10k deposit to open an account with Interactive Brokers (to trade spot forex, anyway), who are definitely real brokers, and well-established, well regulated and all the rest.
He can get a fund solution first before trading with a prime broker...A fund solution is like a small fund or a small prop. trading firm that enables you to get connected to a liquidity provider or a prime broker via MT4 bridge...Let's assume that I decided to partner with a few FF traders here ( me, forexia, xela...etc) with the MT4 bridge you get the MT4 manager which enables you to divide trading accounts or open separate trading accounts for each individual trader.. this is what happens with most retail brokers too...They should have a business bank account under the broker's name, any retail trader wishing to trade with them will wire the money to the broker's bank, once transfer received, the broker starts creating a new MT4 trading account for the trader using the MT4 manager( you get it when you have a MT4 license)...Regards
Simplicity is the key to brilliance.
  • #70
  • Sep 12, 2015 8:11pm Sep 12, 2015 8:11pm
Quoting orabi
{quote} hi sir​ any one that believe he should make profit more than safty limits in market is a scam in his own prospective ,we are at a high way and there is speed limit i like to use small leverage gain slowly more pips better than more risk .if you end 10-20% profit a month ,10-20%of aother traders wining up to central banks 10-20% of big central banks wining ,in the end we all are happy ,believe me i am not looking for aiming to more than 10-20% per month if my capitial grows bigger i may aim for less ,safty of my investment is my and...
I disagree with that statement. There should be NO limit to how much a trader can make with a broker. There is no such thing as a "safety limit". We are all in the trading business to make money. WHY should my profit potential be limited by some kind of limitation? If you want to deliberately limit yourself from only making 10 to 20% of your trading capital, that's a different story but we should ALL be allowed to make whatever amount of profit we can make. If I am able to $5 million a day with my trading strategy, I should be able to do so. Traders in other financial markets have done that. WHY should forex market be any different especially when the forex market is the most liquid and active in the world? And besides, this is what all of the brokers advertise on their website when they want you to open an account with them "Sky is the limit", "Enjoy limitless profit potential with forex trading"... All of sudden, there is a "safety limit" to how much I can make in my trading? LOL

No, the ONLY reason why we are not allowed to make all the profit we can is because of the retail brokers. They are scams themselves in one way or another, some more than others because their interest is NOT aligned with that of the trader. THEY are the ones that want to make that unlimited profit potential at us traders' expense so they set up all those manipulative tactics to skew chances in their favour.
Make your losses in demo. Earn your profits live.
  • #71
  • Sep 12, 2015 8:22pm Sep 12, 2015 8:22pm
Quoting JensG
{quote} Hmm, from a former IT experts point of view that brokerage client software and the server component is merely a bridge - connecting the trader with some matching engine or so. Maybe Spotware doesn't provide any hooks for plugins but the broker does, in the end, control the data thats going in and out so he can still rob your money. It all comes down to: if they WANT to cheat on you, they can do it. Your only protection is indeed a broker who has no incentive of you losing but actually quite the opposite because winning traders make more...
Yes that is true. They do have control over the price feed and they see ALL of your trades even with cTrader.
Make your losses in demo. Earn your profits live.
  • #72
  • Sep 12, 2015 8:35pm Sep 12, 2015 8:35pm
Quoting Forexia
{quote} Yeah but your position is already open with them and you are stuck with their prices. Other brokers might display better prices but how are you going to close your trade opened with one broker with the price of another broker? LOL Like I told you, the forex market is NOT an central exchange like stock exchange where you automatically get access to all of the prices posted by all of the dealer/brokers/other clients and your order gets matched with the best price in the exchange. No, when you open an account with a MM broker, you are dealing...
I mean it from a business perspective. If a broker is going to widen its spread all the time people will go to brokers that provide a better spread. No?
  • #73
  • Sep 12, 2015 8:42pm Sep 12, 2015 8:42pm
Quoting Atokys
{quote} I mean it from a business perspective. If a broker is going to widen its spread all the time people will go to brokers that provide a better spread. No?
Yeah but what if ALL the brokers widen the spread from time to time? LOL And trust me, they ALL do at one time or another.
Make your losses in demo. Earn your profits live.
  • #74
  • Sep 12, 2015 8:44pm Sep 12, 2015 8:44pm
Quoting Forexia
{quote} Yeah but what if ALL the brokers widen the spread from time to time? LOL And trust me, they ALL do at one time or another.
Hmm, what if we use a 1000 pip stoploss. Make those bastards work for it!
  • #75
  • Sep 12, 2015 9:13pm Sep 12, 2015 9:13pm
Quoting Inceptionist
{quote} Like I said before, Futures are the big guys playground...It got some perks...You get to know the real volumes of the futures contract traded on the exchange ( COT reports), If you're running a big business like a chain coffee shop or something, You may find it interesting to trade coffee futures; you can become one of the commercial traders ( trading actual goods/taking physical deliveries, securing some supplies.) or you can just be a speculator trying to catch some decent price moves to make money...Some big guys would use Futures to...
Yeah that's the only problem with futures is that it's really inefficient in terms of capital usage due to its extremely high margin requirement so you basically have to invest a lot of your trading capital but only to trade instruments that has lot less swing movement.
Make your losses in demo. Earn your profits live.
  • #76
  • Sep 12, 2015 9:19pm Sep 12, 2015 9:19pm
Quoting Atokys
{quote} Hmm, what if we use a 1000 pip stoploss. Make those bastards work for it!
Then you are vulnerable to the REAL negative price movement. What if the price REALLY moved against you for 1000 pips hypothetically? Without a stop-loss, you would've suffered a loss of 1000 pips, this time for real and the broker still won, this time $10K for real. Remember the dealer trades against you so for every pip that you lose, he wins.

See there is no way to win against a casino broker. When you are winning, he manipulates the price to make you lose on purpose and he wins still. When you are really losing then he wins automatically. When you blew your account or close your account, he will just move on to the next sucker.
Make your losses in demo. Earn your profits live.
  • #77
  • Sep 12, 2015 9:24pm Sep 12, 2015 9:24pm
Quoting Forexia
{quote} Then you are vulnerable to the REAL negative price movement. What if the price REALLY moved against you for 1000 pips hypothetically? Without a stop-loss, you would've suffered a loss of 1000 pips, this time for real and the broker still won, this time $10K for real. Remember the dealer trades against you so for every pip that you lose, he wins. See there is no way to win against a casino broker. When you are winning, he manipulates the price to make you lose on purpose and he wins still. When you are really losing then he wins automatically....
Its just a suggestion. If your 1000 pip stoploss gets hit take your small loss and move on. If you manage to catch a good move then hold on to it for a few months to a year and take your profit. Why bother playing the intraday game when the edge is so small?
  • #78
  • Edited Sep 13, 2015 8:46am Sep 12, 2015 9:47pm | Edited Sep 13, 2015 8:46am
Quoting Atokys
{quote} Its just a suggestion. If your 1000 pip stoploss gets hit take your small loss and move on. If you manage to catch a good move then hold on to it for a few months to a year and take your profit. Why bother playing the intraday game when the edge is so small?
Yeah but if I am going to invest in foreign currency and just hold it for long term, I will just open an account in the foreign currency with a bank and just let the money sit there while waiting for its appreciation/depreciation. LOL WHY would I bother to go through all those efforts to open a trading account with a broker when my money is 100 time safer with a bank and is guaranteed in case of insolvency?

The whole purpose of opening an active trading account with a broker with margin is to take advantage of the highly active and liquid intraday movement in the currency spot market to make high profit. The goal here is to make money LOL, the money that is available there for all of us to make in the spot market if all of the brokers just act fairly.

Basically the retail brokers are making all the potential profit that's supposed to be ours.
Make your losses in demo. Earn your profits live.
  • #79
  • Sep 12, 2015 11:41pm Sep 12, 2015 11:41pm
Quoting Forexia
{quote} Yeah and Gain Capital is the biggest casino brokers out there even. There is a thread in the "Brokers Section" on FF started by this guy who traded with Gain Capital and made $200K in profit and Gain Capital forfeited all of it accusing that trader of "price latency arbitrage" (a favorite excuse by those casino brokers to not let you withdraw your profit even when you've made money with them) and the trader complained to the FCA in UK. And guess what? FCA sided with Gain Capital. It's so disappointing that retail brokers have become just...
That guy lost 20k profit, not the whole account 200k. Forex trading is not investing and I doubt you will get rich by trading a few K. Make a few k each year is possible as an income but you will get kicked out if profit too much. I worked with forex.com for 2 years and never had trouble with withdraw. It would be a real scam if profit can not be withdrawn. I think retail brokers will hunt your orders if the lot size is more than 5? There is an article on the internet that shows Forex.com and fxcm delay orders that is bigger than 5 lots on purpose. I have never trade more than 5 lots on a single order and am worried that my broker could play with my stop loss. There is no solution if that happens.
  • #80
  • Sep 13, 2015 1:50am Sep 13, 2015 1:50am
The only thing i saw from this thread is.There is no broker out there that we can use because all of the brokers are scammers.
So we should never ever trade Forex?
When we discuss something about money and asking people did you ever profit from Forex.There will always be someone talking about brokers.
I mean is really useless for some how.

I don't really know what to say '


90% of people loose money is because of the bad brokers ?Maybe this is true.
Or maybe 80% of people are good traders that did profit from Forex trading but fail to withdraw the money?
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