Is Forex trading worth it? If so, why? | Page 16 | Forex Factory

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Is Forex trading worth it? If so, why?

  • #301
  • Jan 2, 2016 8:52am Jan 2, 2016 8:52am
Quoting vasily
{quote} and...!?
Its a good question... But id hate to spoil all the fun... =p


Inserted Video
Time hides Nothing
  • #302
  • Jan 2, 2016 9:07am Jan 2, 2016 9:07am
Quoting tashkent
{quote} forex trading is not for everybody. i am glad you figured out that after 9 years. there are lots of people who will never acknowledge the this hard truth, waste their time, wealth and health.
I hear that a lot but i never hear it backed up by thoughts on who it is actually for.. I mean people say "trading" but thats a pretty broad term.... Really it means nothing.


Knowing value changes on a minute to minute basis is a completely different game to "knowing" value changes on a weekly basis monthly basis yearly basis. The flow changes hands from robots to corporations to central banks to onvestment funds... Its a baseless statement... Then theres the differing account sizes and liquidity restraints...
Time hides Nothing
  • #303
  • Jan 2, 2016 9:18am Jan 2, 2016 9:18am
Quoting Agnosios
{quote} After 9 years of forex disaster I quit trading yesterday. My ( and yours ) 9-5 work brings 100% profit per year!
  • #304
  • Jan 2, 2016 9:35am Jan 2, 2016 9:35am
Quoting Agnosios
{quote} After 9 years of forex disaster I quit trading yesterday. My ( and yours ) 9-5 work brings 100% profit per year!
The best and most rational forex trading decision of this entire forum. Best of luck to you.
  • #305
  • Jan 2, 2016 9:46am Jan 2, 2016 9:46am
Quoting CindyXXXX
{quote} I hear that a lot but i never hear it backed up by thoughts on who it is actually for.. I mean people say "trading" but thats a pretty broad term.... Really it means nothing. Knowing value changes on a minute to minute basis is a completely different game to "knowing" value changes on a weekly basis monthly basis yearly basis. The flow changes hands from robots to corporations to central banks to onvestment funds... Its a baseless statement... Then theres the differing account sizes and liquidity restraints...
there absolutely nothing to clarify. the statement is crystal clear: there are things not suitable for everybody. unless you want to discuss just for the sake of discussion.
there are people who will never become successful business owners. there are people who will never become champions in a specific branch of sport. there are people who will never become a general and so on. and there are people who will never become a successful forex trader. it does not matter you trade manually or through ea. if you are risking money in the market and not sharing your profit with anybody else, you are a trader. simple.
for those who still did not understand that forex is not for everybody i will give you an example to show that this rule is universal and applicable to any other sector. look at this graph and figure out how many startups fail within first 3 years. somewhat familiar situation, is not it?
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As Above, So Below
  • #306
  • Jan 2, 2016 9:51am Jan 2, 2016 9:51am
f
Quoting tashkent
{quote} there absolutely nothing to clarify. the statement is crystal clear: there are things not suitable for everybody. unless you want to discuss just for the sake of discussion. there are people who will never become successful business owners. there are people who will never become champions in a specific branch of sport. there are people who will never become a general and so on. and there are people who will never become a successful forex trader. it does not matter you trade manually or through ea. if you are risking money in the market...
See this where it all goes wrong... I feel... Failure is key to new beginnings, yet somehow we're lead to belive that this is somehow wrong... Then you go and say never.. . Its kinda like how everyone here is posing for some camera that doesn't even exist. Its all BS... You just take the next step or you dont.. Simple as that.

How can everyone be this fked? I don't understand
https://m.youtube.com/watch?v=qh9WuPzOjlI
Time hides Nothing
  • #307
  • Jan 2, 2016 9:55am Jan 2, 2016 9:55am
Quoting CindyXXXX
f{quote} See this where it all goes wrong... I feel... Failure is key to new begginnings, yet somehow we're lead to belive that this is somehow wrong... Then you go and say never.. . Its kinda like how everyone here is posing dor some camera that soesnt even exist. Its all BS... You just take the next step or you dont.. Simple as that. How can everyone be this fked? I don't understand
it is not just about beginner's failures. it is about things some will never accomplish in their life. you are too confused or eluded. there are "NEVER"s in life. face the harsh reality and take your pink purple glasses off.
As Above, So Below
  • #308
  • Jan 2, 2016 10:05am Jan 2, 2016 10:05am
Quoting tashkent
{quote} there absolutely nothing to clarify. the statement is crystal clear: there are things not suitable for everybody. unless you want to discuss just for the sake of discussion. there are people who will never become successful business owners. there are people who will never become champions in a specific branch of sport. there are people who will never become a general and so on. and there are people who will never become a successful forex trader. it does not matter you trade manually or through ea. if you are risking money in the market...

Best
D.P.
Hunting High and Low
  • #309
  • Jan 2, 2016 1:32pm Jan 2, 2016 1:32pm
Quoting CindyXXXX
f{quote} See this where it all goes wrong... I feel... Failure is key to new beginnings, yet somehow we're lead to belive that this is somehow wrong... Then you go and say never.. . Its kinda like how everyone here is posing for some camera that doesn't even exist. Its all BS... You just take the next step or you dont.. Simple as that. How can everyone be this fked? I don't understand https://m.youtube.com/watch?v=qh9WuPzOjlI
It's ironic that you say that when you were trolling like a boss throughout the first few pages of the thread
  • #310
  • Jan 2, 2016 1:37pm Jan 2, 2016 1:37pm
Know what kind of trader are you?
Stats
MM
Nerve
Luck
Thats it IMHO
Good thread not many on here
  • #311
  • Jan 2, 2016 2:38pm Jan 2, 2016 2:38pm
Quoting DemoAntares
Setting real money goals in this business as a beginner is very dangerous - I believe setting real money goals can only be done after developing a system that works for you. It has been said many times over many years and not just here, the system that works is about consistent money management, meaning that each trade has to be alike, and that strategy (entry,exit,trailing and a mandatory SL) has to be the same - based on the rules of a system traded... According to Socrates, there are three types of slavery which we could try to analyse to apply...
DemoAntares,

Excellent post.

1. You are very serious
2. You are not greedy

Congrats to you.
PVSRA
  • #312
  • Jan 2, 2016 2:40pm Jan 2, 2016 2:40pm
Quoting Fisher755
{quote} DemoAntares, Excellent post. 1. You are very serious 2. You are not gready Congrats to you.
Took me "only" 5 years and 15k burned USDs
  • #313
  • Jan 2, 2016 2:44pm Jan 2, 2016 2:44pm
Quoting DemoAntares
{quote} Took me "only" 5 years and 15k burned USDs
This doesn't matter. What matters is- You have learned your lesson. Something most of traders never do. And most of them also never stop being greedy.
PVSRA
  • #314
  • Jan 2, 2016 2:48pm Jan 2, 2016 2:48pm
Quoting gravitist
Now, watch this video instead - much more HONEST than above video.
I watched the video, titled "PROOF that Forex is RANDOM". Whatever his honesty, the majority of his "proofs" are ill-conceived.

Much of his argument involves RNG created charts, which have no bearing on the properties of FX charts. Just because two different entities exhibit some apparently similar characteristics -- in this case, trends and patterns -- that is not in itself a proof that their behavior is identical in every possible way. Especially when the premises behind the construction of the entities are entirely different.

Then he also implies that FX charts' occasionally respecting randomly plotted lines and averages is proof of their failure to respect 'conventionally' plotted lines. Not only is this logic ill-founded, but an infinite number of lines and averages could potentially be plotted, and (even if one could reach a mathematical definition of "respect") it's impossible to quantify 'successes' or 'failures' from an infinite data set.

The rest of the video is largely his own unsubstantiated opinions about what performance should or shouldn't be possible; some completely irrelevant comment about Warren Buffett; and the notion that if his (obviously martingale-based) EAs eventually fail, then everybody else's trading systems must do likewise. Never mind the possibility of any shortcomings in his own premises (the martingale MM? the exits? the lack of any context-specific intelligence behind the entries?), it's all "proof" that the FX markets are random.

He admits failure after 8 years of trying. Acknowledging his honesty does not alter the impotence of his arguments. As usual, it's a case of folk who've failed believing that their subject knowledge is superior to those who've been consistently successful for several years. And then finding -- or contriving -- "evidence" to make themselves feel justified in their unshakeably held views. Sorry to be harsh, but that's the reality, at least as I see it.

In myth #22 here, I listed several items that I believe are obvious evidence of non-randomness, and I see nothing in Mr Rossouw's video to persuade me to modify my list.
  • #315
  • Jan 2, 2016 2:53pm Jan 2, 2016 2:53pm
Quoting Fisher755
{quote} This doesn't matter. What matters is- You have learned your lesson. Something most of traders never do. And most of them also never stop being greedy.
Well one thing I'm sure of...I got selfconfidence which I know isn't egoism (like few years ago). Since I've noticed I stopped reacting to gains/losses and have learned an amazing thing regarding brain chemistry...Did you know that brain produces same amount of acetilcholyine and serotonine while we are losing and winning? It indicates our mental "wiring" is under same kind of pressure no matter if you see 1000 bucks in the red or in the green. I was amazed at that pretty simple truth...but ok - saying it and doing it are two completely different things.
  • #316
  • Jan 2, 2016 2:57pm Jan 2, 2016 2:57pm
Quoting hanover
{quote} I watched the video, titled "PROOF that Forex is RANDOM". Whatever his honesty, the majority of his "proofs" are ill-conceived. Much of his argument involves RNG created charts, which have no bearing on the properties of FX charts. Just because two different entities exhibit some apparently similar characteristics -- in this case, trends and patterns -- that is not in itself a proof that their behavior is identical in every possible way. Especially when the premises behind the construction of the entities are entirely different. Then he...
I always wanted to ask - what does randomness in price action or market have to do with trading?
  • #317
  • Jan 2, 2016 3:13pm Jan 2, 2016 3:13pm
Quoting DemoAntares
{quote} I always wanted to ask - what does randomness in price action or market have to do with trading?


Soon I will say I like you very much brother. You nailed it with that one. Randomness or no randomness, what do we care in the end.
Big Boys control the game and we cannot change it so why even bother?! Stealing some drops of water out of this "Sharkpool" is all we need to live good enough.
The sooner we realize that, the better for us. Just like in any other business in this Consumer Oriented World.
PVSRA
  • #318
  • Jan 2, 2016 3:19pm Jan 2, 2016 3:19pm
Quoting Fisher755
{quote} Soon I will say I like you very much brother. You nailed it with that one. Randomness or no randomness, what do we care in the end. Big Boys control the game and we cannot change it so why even bother?! Stealing some drops of water out of this "Sharkpool" is all we need to live good enough. The sooner we realize that, the better for us. Just like in any other business in this Consumer Oriented World.
Do I know you? You probably were my wife or best friend in a life before this


Thanx, I asked it with that purpose exclusively, but I didnt expect a correct answer so soon - damn!

Enough trolling for one day, those piercing lines and dark cloud covers wont find themselves for me
  • #319
  • Jan 2, 2016 3:23pm Jan 2, 2016 3:23pm
Quoting DemoAntares
{quote} Do I know you? You probably were my wife or best friend in a life before this Thanx, I asked it with that purpose exclusively, but I didnt expect a correct answer so soon - damn! Enough trolling for one day, those piercing lines and dark cloud covers wont find themselves for me


Well, at least one good thing out of all these maybe wasted words....we have had our fun, didn't we?!
PVSRA
  • #320
  • Jan 2, 2016 3:25pm Jan 2, 2016 3:25pm
Quoting Fisher755
{quote} Well, at least one good thing out of all these maybe wasted words....we have had our fun, didn't we?!
No word is wasted if it was sincere - it's what makes life worthwhile.
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