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Will forex ever end for retail traders like us

  • #41
  • Edited 1:02am Jan 6, 2016 12:04am | Edited 1:02am
Quoting merquise
{quote} Everything is a JOB. There are no UN-REAL jobs. There are jobs and no jobs. Here for you to read https://en.wikipedia.org/wiki/Job
I mean REAL as in being able to pay rent and buy food. It's not asking much from a job, but trading the forex won't even do that (:
  • #42
  • Jan 6, 2016 1:33am Jan 6, 2016 1:33am
Quoting Mingary
{quote} I mean REAL as in being able to pay rent and buy food. It's not asking much from a job, but trading the forex won't even do that (:
Neither will trading stocks if you do it wrong. Neither will starting shit businesses. Neither will betting on horses. Neither will working a job in a field that has no demand. Neither will plenty of things if you approach it wrong.

As for your prior reply, that you don't understand what I wrote is telling. That you don't know the difference between retail trading and professional trading doesn't surprise me.

How about you get a better hobby than trolling this board being a wet blanket all day. All you do is moan moan moan how big bad forex touched you in the funny place - well get the fuck over it. Maybe Tumblr would be a better place for you.

It'd be one thing if you were providing value and weighing in on some of the utterly stupid shit most of the muppets on this board believe, but no all you want to do is "forex is bad". That's all you have to offer - "forex is bad".

Maybe it's not forex that is the problem here.
Congratulations ScalaFX for coming out of the closet!
  • #43
  • Jan 6, 2016 6:38am Jan 6, 2016 6:38am
Quoting Mingary
{quote} I mean REAL as in being able to pay rent and buy food. It's not asking much from a job, but trading the forex won't even do that (:
Man, what you said is much more than half right, and with your attitude I guess you save yourself some pain of risking the fact that it may not actually work out so well for you.. Well done on that, but the truth remains that some people really do make a killing trading forex and whatever else. Like Nubcake suggested it's not a one size fits all kinda deal. And yes it's not actually FAIR.

You don't pay $99.99 to some guy and suddenly you can push a button and never have to work again it just doesn't work like that. Wow really?

I can vouch for the fact that it is "possible" to make a good living trading. In fact the guys that rip this can pull more in a day than most of the people with professional jobs make in a year, (at a retail level) and on the right day of course. No I'm not one of them at this moment in time, but I enjoy the challenge.. I've seen it live and real time. But these guys are a very rare breed indeed, this much is true.

If you could bend steal, so much so that you knew 50 different colors of a flame and the way the steal would react to each color, how would you go explaining this to someone who also wanted to bend steal like you? How would you get to this point of perfection in the first place? It's really of that caliber. This point cannot be underemphasised.

Anyway I always enjoy the reactions you provoke. But what are you looking for here? Validation that trading is very hard? Ever heard of beating a dead horse? Most of us will die in vain, this much is true. Those who don't know this at some point will.

But if you took up FOREX to escape "WORk".. Lol... That will be your irony and egg face.
Time hides Nothing
  • #44
  • Jan 6, 2016 7:38am Jan 6, 2016 7:38am
Quote
Will forex ever end for retail traders like us
Doubtful.

A self-deluded and misguided investing public seems to be a universal constant.
  • #45
  • Jan 6, 2016 7:42am Jan 6, 2016 7:42am
Quoting nubcake
{quote} Neither will trading stocks if you do it wrong. Neither will starting shit businesses. Neither will betting on horses. Neither will working a job in a field that has no demand. Neither will plenty of things if you approach it wrong. As for your prior reply, that you don't understand what I wrote is telling. That you don't know the difference between retail trading and professional trading doesn't surprise me. How about you get a better hobby than trolling this board being a wet blanket all day. All you do is moan moan moan how big bad forex...

You are not addressing the real question.
You are blanket bombing the issue like your average school yard bully.

The issue is:You are not making a living with forex trading (but you seem to pretend you do)

.. and no one is, so know that you are not alone.

So yes, I stand by what I see in this funny farm.
You are another variation of this mystical creature that is so common in the "forex ecosystem":

Attached Image (click to enlarge)
Click to Enlarge Name: Unicorn realistic.jpg Size: 224 KB
  • #46
  • Edited 8:00am Jan 6, 2016 7:47am | Edited 8:00am
Quoting CindyXXXX
{quote} Man, what you said is much more than half right, and with your attitude I guess you save yourself some pain of risking the fact that it may not actually work out so well for you.. Well done on that, but the truth remains that some people really do make a killing trading forex and whatever else. Like Nubcake suggested it's not a one size fits all kinda deal. And yes it's not actually FAIR. You don't pay $99.99 to some guy and suddenly you can push a button and never have to work again it just doesn't work like that. Wow really? I can vouch...
I don't doubt that you saw "something"
I just have a horrible doubt about what was actually seen.
And I would have loved to have been there.
  • #47
  • Jan 6, 2016 8:02am Jan 6, 2016 8:02am
Quoting Mingary
{quote} I don't doubt that you saw "something" I just have a horrible doubt about was actually seen.
Well it wasn't a glance, I had 10 months of exposure every day, and tbh it did things to my head.. To this person it was a simple operation to him.. He always said "it's obvious".. But what he meant was it's obvious to him.. But of course I lead myself to believe that ," it was obvious///"

I'm not here to convince you of anything. But once upon a time Mingary was born onto this world and he said... Oh the world is rigged I need more money... Then he found Forex and the markets... Then he found that Forex and the markets ARE the world. They are in a sense rigged in that morality takes a back seat to power and profits... There is no escape from this.

This person I speak of had help, help from a very experienced institutional trader. That's how he got where he got to. He didn't float around Forex factory crying that he wets the bed still. He manned up and worked his ass off because he wanted it. Something drove him... Real life drove him.

I learned maybe 10 colors of the flame analogy in metaphorical terms and lost 20K in the process... I failed trying to walk in his shoes because unlike him, I was just another bed wetter knowing nothing more than the comfort of my own little zone. I couldn't cut it, I lost. That was me.

But it will never be Mingary because if Mingary can't do it, no one can. Forget the fact that you don't even know the 100 things that you don't know you know. Sure, you never had a hope. Life sux.. This is your perception.. You talk like it matters, but you act like it don't..

Why am i bothering saying this to you? Maybe one day you will tell me, because I have no idea
Time hides Nothing
  • #48
  • Jan 6, 2016 8:08am Jan 6, 2016 8:08am
Quoting Mingary
{quote} You are not addressing the real question. You are blanket bombing the issue like your average school yard bully. The issue is:You are not making a living with forex trading (but you seem to pretend you do) .. and no one is, so know that you are not alone. So yes, I stand by what I see in this funny farm. You are another variation of this mystical creature that is so common in the "forex ecosystem": {image}
The problem here is the question of trying to make a living from forex or speculation in general.

If i trade for 1 year, turn 10k into 7.8 mil after taxes, drop around 4 mil into an income investment account that returns 4% - 7% a year, then use the rest for life and higher risk investments and never touch forex again, would you consider that making a living from forex?

If i did that, do you think you'd ever hear about it? What kind of efforts would one have to go through to make themselves commonly known?

Do you think of making a living from forex as generating X amount of money through speculative activities a month/year like brokers do?

Point i'm making is there are many ways to classify making a living with forex. Steady monthly income is one, sudden massive return is another, as well as all variations in between. If you believe that the markets are unpredictable then you also believe that there are those that can get lucky in an unpredictable manner and win.

The only factor to really consider here is the over plan on what to do with the money.
  • #49
  • Jan 6, 2016 8:12am Jan 6, 2016 8:12am
Quoting Mingary
{quote} You are not addressing the real question. You are blanket bombing the issue like your average school yard bully. The issue is:You are not making a living with forex trading (but you seem to pretend you do) .. and no one is, so know that you are not alone. So yes, I stand by what I see in this funny farm. You are another variation of this mystical creature that is so common in the "forex ecosystem": {image}
the issue never had anything to do with what I do for coin. that's my business. there's nothing schoolyard bully here, just you being a mopey fuck with every...single...fucking...post. someone needs to a do a welfare check on you to make sure you aren't hoarded away in some fire-trap with your tinfoil cap on. holy shit.

I don't "pretend" anything. I'm happy to tell you flat-out, and bold it so you don't miss it, that I haven't made any trades for quite awhile now. Does this make you happy? Sad? Horny? There's more things I haven't done recently than I'll ever be able to remember NOT doing, but that doesn't mean I don't have 2 brain cells to fucking rub together and maybe, JUST MAYBE, I know at least a little something about something.

But, please, keep moping around posting unicorns and being the saddest attention seeking fuck on this forum lately. It's super endearing.

Just because you are an abject failure and can't even keep-up with much of anything it seems, and just have your unicorn pics and reassuring sense of injustice in the world, doesn't matter one single bit for those people out there who are trading each and every day and making a killing that you'll never comprehend. Whether that's forex, or stocks, or beanie babies, whatever.

Your sad little corner of the world might be the shittiest shithole that ever harbored a sloppy turd. That's not everyone elses reality, and some of us (clearly not you) know of people who do this nonsense for a living.

I suppose the hedge funds are all losing money every day, right? Only the banks get out of this game alive, right?

Right. Your inability to provide any value, whatsoever, is fucking depressing and pathetic. Pound sand.

Fucking hell I'd swap you for some retard like Brijon any day. At least he was entertaining in his crackpot ways, but you... are just sad. What will it take for you to just fuck right off and get a life? Serious question... what will it take? I bet you don't even know, because you have nothing else!
Congratulations ScalaFX for coming out of the closet!
  • #50
  • Jan 6, 2016 8:26am Jan 6, 2016 8:26am
The idealized notion of trading full-time for a steady income stream is very obviously misguided.

Speculative trading would be more akin to starting a business in the sense that speculation involves testing the validity of one's strategic vision by staking money on it. The idea of trading 9 to 5 grabbing X pips per day has no basis in reality.
  • #51
  • Jan 6, 2016 8:45am Jan 6, 2016 8:45am
Quoting Atokys
The idealized notion of trading full-time for a steady income stream is very obviously misguided. Speculative trading would be more akin to starting a business in the sense that speculation involves testing the validity of one's strategic vision by staking money on it. The idea of trading 9 to 5 grabbing X pips per day has no basis in reality.
Yes it's idealized in a fact that it's so easy your ordinary house wife could do it. On the other hand for others who know how it is. Search for futures trader William Greenspan and his video Day Trading made simple, he had 155 consecutive wining months. You can't have that if the whole thing is rigged. That's just an excuse for someone not admitting to himself that he fails at something.

Remember, you will never be as good as a guy on the last place on ATP list, so your excuse will be tennis is hard. Well tell that to the top 100 who are earning money for a living playing tennis, and the top 10 who are earning buckets of money.

http://www.abc.net.au/news/2015-01-1...-finds/6024914

Now this Mingary fellow is a impacting member here. But I don't see what exactly is he impacting, besides spewing hate. I wonder why isn't he banned a long time ago.
  • #52
  • Jan 6, 2016 9:00am Jan 6, 2016 9:00am
Quoting Atokys
The idealized notion of trading full-time for a steady income stream is very obviously misguided. Speculative trading would be more akin to starting a business in the sense that speculation involves testing the validity of one's strategic vision by staking money on it. The idea of trading 9 to 5 grabbing X pips per day has no basis in reality.
I hate getting into these discussions because it's not really my place to comment other than that you are so wrong... the real game is played on a small level. Banks etc. aren't looking for those 100 pip daily breaks that all of retail are trying to get. Sure some hedge funds and speculative traders are trying to get those but the real professionals on a salary and bonuses.. ya know the ones who circle around the surface in dark shadows (sharks) are simply trying to make their fill 10 - 30 pips at a time.

They hit into the liquidity and gaps and chill.. done onto the next one..

As a retail trader who has no idea what is really happening (99% of us) sure the gamble trade is likely our only hope. nd this is where Mingary comes in; Minary is saying "what fking ever, show me the guy, the honest guy who makes the thread on Forex Factory called.. "Thank you god and all the Red Flag members I used to look up to, thank you for this beach mansion on the beach of Bondi, just wanted to say" (someone that isn't selling something)...... Because there is no thread like this. And that's all Mingary is saying.

And in a way he has a point. In a way
Time hides Nothing
  • #53
  • Jan 6, 2016 9:03am Jan 6, 2016 9:03am
Quoting merquise
Yes it's idealized in a fact that it's so easy your ordinary house wife could do it. On the other hand for others who know how it is. Search for futures trader William Greenspan and his video Day Trading made simple, he had 155 consecutive wining months. You can't have that if the whole thing is rigged. That's just an excuse for someone not admitting to himself that he fails at something. Remember, you will never be as good as a guy on the last place on ATP list, so your excuse will be tennis is hard. Well tell that to the top 100 who are earning...
1. Try making your point without telling me to search for something to read or watch.
2. I love the kneejerk response of asserting that someone argues against something because of a deficiency.
3. Day trading as it is commonly conceived is really a retail fancy. I am very well aware of the existence of successful short-term traders such as Linda Raschke. However, the idea of short-term trading for a steady income is plainly untrue.
  • #54
  • Jan 6, 2016 9:07am Jan 6, 2016 9:07am
Quoting Atokys
{quote} 1. Try making your point without telling me to search for something to read or watch. 2. I love the kneejerk response of asserting that someone argues against something because of a deficiency. 3. Day trading as it is commonly conceived is really a retail fancy. I am very well aware of the existence of successful short-term traders such as Linda Raschke. However, the idea of short-term trading for a steady income is plainly untrue.
And your point is what exactly?? Your, point, your perspective? Who are you and what authority are you so that I will take your point as valid? On the other hand I told you to search because it's illegal to post links to such sites. Anyway if you don't believe in day trading and making money I do, and not because of some unicorns this Mingary is posting but because it is doable.

Here for your pleasure: http://www.tradingdvdshop.com/index....roducts_id=584

http://tradingmarkets.com/recent/sp_...an-657062.html

Read..
  • #55
  • Jan 6, 2016 9:09am Jan 6, 2016 9:09am
Quoting CindyXXXX
I hate getting into these discussions because it's not really my place to comment other than that you are so wrong...
Ok, then don't.

Im not here to proselytize. Im just rather amused at how people can disagree with what I said. Only on Forex Factory I guess.
  • #56
  • Jan 6, 2016 9:17am Jan 6, 2016 9:17am
Quoting merquise
Anyway if you don't believe in day trading and making money I do
I already said that profitable short-term traders exist. Its just the idea of making a steady income that is untrue.

Sure, there are people who may boast about having made a killing by making X pips a day for some period of time. Retail day trading has booms that correspond to prolonged market trends. Many of the under-capitalized don't survive the down periods.
  • #57
  • Jan 6, 2016 9:20am Jan 6, 2016 9:20am
Quoting Atokys
{quote} Ok, then don't. Im not here to proselytize. Im just rather amused at how people can disagree with what I said. Only on Forex Factory I guess.
We're basically pre prgrammed to peddle shit...

I just did it, you just did it, today someone is laughing, someone else is crying, life goes on...

If it hurts too much, don't read it.
Time hides Nothing
  • #58
  • Jan 6, 2016 9:22am Jan 6, 2016 9:22am
as digital currency dominate our pocket, it would be easier for us to hold foreign currency in our pocket.
thus we can hold multi currency account and transfer between our own account. and if things keeps going in positive ways the spread can be minimized.

and walla, we can actually trade true foreign exchange.
and our position are no longer contract of paired currency, but independent currency that we can exchange to any currency reserve.

ps: it is already there, but not in retail level
  • #59
  • Jan 6, 2016 9:25am Jan 6, 2016 9:25am
Quoting Atokys
{quote} I already said that profitable short-term traders exist. Its just the idea of making a steady income that is untrue. Sure, there are people who may boast about having made a killing by making X pips a day for some period of time. Retail day trading has booms that correspond to prolonged market trends. Many of the under-capitalized don't survive the down periods.
Then I will agree to disagree. Steady income is possible, for those who can. Those who can't, let them find a real job as Mingary says. It's obvious he can't therefore Mingary go get a job, delete your FF account, and do something else in your life.

Also I don't care about undercapitalized. Why are you talking about them? It's not mine, nor yours problem why are they undercapitalized.

Risk Warning: Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. (seems that no one reads these lines before entering trades these days)
  • #60
  • Jan 6, 2016 9:37am Jan 6, 2016 9:37am
Quoting CindyXXXX
We're basically pre prgrammed to peddle shit... I just did it, you just did it
Speak for yourself.
Quoting merquise
Then I will agree to disagree. Steady income is possible, for those who can. Those who can't, let them find a real job as Mingary says. It's obvious he can't therefore Mingary go get a job, delete your FF account, and do something else in your life. Also I don't care about undercapitalized. Why are you talking about them? It's not mine, nor yours problem why are they undercapitalized. Risk Warning: Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may...
There you go, people must be arguing against something because of a deficiency. At least try to hold yourself back, even just for the sake of discussion.

You seem to want to take my argument personally. I assure you, I don't care.

I am debunking the idea that retail forex day traders make a steady 'insert number' of pips per 'period'. Scalpers who actually exploit price inefficiencies (mostly on stock indexes) can claim this, Forex day traders can't make this claim convincingly. Fret not, there is still hope. You can still cut your losers and ride your winners. This seems to work for any kind of speculative trading. However, you are still playing for the infrequenct outlier.
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