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Is Forex trading worth it? If so, why?

  • #481
  • Jan 19, 2016 9:09am Jan 19, 2016 9:09am
Quoting jmn5611
{quote} Absolutely NOT the case. The house can be beaten, if you play the right game, and place the right bets. Watch the movie 21, or read the book, "Bringing Down the House".
Yes, a good exemple.
Not sustainable, just like I said.
  • #482
  • Jan 19, 2016 9:11am Jan 19, 2016 9:11am
Quoting nubcake
{quote} you forgot to add ", or stop being a sour cunt with no life". Maybe it was implied, but I don't think subtlety is one of this future suicides strengths.
Please put me on your ignore list until you get more proficient at debating and arguing (:
  • #483
  • Jan 19, 2016 9:21am Jan 19, 2016 9:21am
Quoting Mingary
{quote} The retail forex trading dowward spiral spins much faster than the one for retirement funds and pension plan. The retail forex sucking sound is very loud ...
Its all relative... And ya know i only reply to you because at least you are real about the game where many are just deluded, but no need to rub it in their face!... What you lack is self belief. If scam is the word you want to choose then call it a scam..

The same way the only 100m sprint winners are ALL doping just within the limits of the testing commitee and the way most famous sports people are privaleged enough to get private leasons from a young age and do the 10,000 hours... But ya know what man? Some people throw their hands up and find rasons to not partake, others have a social go and find tbeir place somewhere on the spectrum, others work teally hard and use all the rules tobtheir advantage...

Whatever issues you have now, there are 100 million others with the same issues starving for a solution. Ever walked past a person in a wheal chair or a retarded person and felt like the biggest asshole in the world for complaining about your petty problems? Thats how i feel like when i see you. Stop being a cunt.. Use your power better. You have more than you realise..


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Time hides Nothing
  • #484
  • Jan 19, 2016 11:32am Jan 19, 2016 11:32am
Quoting Forexia
{quote} I would give ANYTHING NOT to be in a day job micromanaged by an incompetent boss, backstabbed by loser co-workers, have to beg for vacation time and time off just to see doctors and at the end of the year have to report everything that you have done for the WHOLE entire year because nobody sees or gives a shit about your work and all for just a 3% raise because no matter how well you did in your job, the highest rating that they are willing to give you is "Meet Expectation" because "Exceed Expectation" would mean they would have to promote...
+1
  • #485
  • Jan 19, 2016 12:37pm Jan 19, 2016 12:37pm
The initial research I have been doing suggests that around 20% of traders can expect to end up with a profitable account but that overall and when viewed as a group, retail traders seem to show results in-line with random trading.

http://papers.ssrn.com/sol3/papers.c...act_id=2711214

The good news is that the research I am working on now, does seem to show that there is nothing inevitable about these 'random-like' results and that there is plenty of non-random behaviour to trade. I will publish this second paper later this year.

Note that this paper is written with a non-trader audience in mind, so much of it will not be new-news to people here. I say this with some trepidation, but 'comments welcome'!!

Chris
  • #486
  • Jan 19, 2016 1:45pm Jan 19, 2016 1:45pm
Quoting CindyXXXX
well i guess you know Mingary and the Market THAT well sorry to be a dick, just balancing the equation
Ming brings a little flavor to the place, that's for sure!

As far as the market goes, it is not hard to buy dips in a rising market, sell rallies in a falling one, and fade the tops and bottoms of ranges. What I know about the market is that I don't know where price is going to go but I do know how to manage my risk. Trading is about managing risk.

So you are most definitely not a dick, as your questions give me the opportunity to provide an accurate answer about what I know about the markets and what to do about it.

Trade well!

Quoting Mingary
{quote} Yes, a good exemple. Not sustainable, just like I said.
Absolutely sustainable! That is why they were thrown out!
If you are good at something, never do it for free--Joker
  • #487
  • Jan 19, 2016 5:16pm Jan 19, 2016 5:16pm
Quoting k6chris
The initial research I have been doing suggests that around 20% of traders can expect to end up with a profitable account but that overall and when viewed as a group, retail traders seem to show results in-line with random trading. http://papers.ssrn.com/sol3/papers.c...act_id=2711214 The good news is that the research I am working on now, does seem to show that there is nothing inevitable about these 'random-like' results and that there is plenty of non-random behaviour to trade. I will publish this second paper later this year....
So far I've only read the summary, will have to see if I have time to read or skim the 16 pages later. Curious as to whether the 20% profitable is broken up further as if some are just profitable than that's very different to earning enough for a living. Good luck with your research and thanks for sharing.
Hope for the best, prepare for the worst.
  • #488
  • Jan 19, 2016 5:19pm Jan 19, 2016 5:19pm
Quoting Forexia
{quote} I would give ANYTHING NOT to be in a day job micromanaged by an incompetent boss, backstabbed by loser co-workers, have to beg for vacation time and time off just to see doctors and at the end of the year have to report everything that you have done for the WHOLE entire year because nobody sees or gives a shit about your work and all for just a 3% raise because no matter how well you did in your job, the highest rating that they are willing to give you is "Meet Expectation" because "Exceed Expectation" would mean they would have to promote...
I agree with most of what you have said here, but am I the only one who sees the contradiction between these two quoted statements:
1. " I thank God EVERYDAY"
2. "compensated with money cuz that's the only thing that counts in this world nowadays"
Hope for the best, prepare for the worst.
  • #489
  • Jan 19, 2016 5:24pm Jan 19, 2016 5:24pm
Quoting Tom81
{quote} It all depends on your perspective. Days, weeks, months, years spend in front of your computer screens comes with a high costs to your social life. Sure you can be very profitable, don't believe anyone who says you can't make 30, 40 % yearly gains (my average 9 year track record is 44,1 % gain per year), well realistically it's nearly impossible if you're managing big hedge fund account where liquidity limitations and very limited margin come into play, on small retail account it's doable. But money isn't everything life has to offer. If...
re high costs to your social life - what time frame do you trade? Every trader has to find what works best for them but should also realise that more screen time doesn't necessarily make you a better trader. Sometime less is more eg spending 20 hours a day would just make you too tired to think straight, even 8 hours a day and you might not 'see the forest for the trees'. I've chosen predominantly 1 hr to daily charts so that I can trade part time and have a life outside trading.
Hope for the best, prepare for the worst.
  • #490
  • Jan 19, 2016 6:20pm Jan 19, 2016 6:20pm
Quoting Mingary
{quote} Please put me on your ignore list until you get more proficient at debating and arguing (:
I have you on ignore on principle. There's no debate - you are an absolute tool. Get a life.

What sort of person sits on a forex forum every day whining about how unfair forex is? What a loser!

I'm still waiting to hear what it would take for you to just fuck off, but still I'm sure you have nothing else to do than sit here demanding attention every single day of your sad little life.
Congratulations ScalaFX for coming out of the closet!
  • #491
  • Jan 19, 2016 11:49pm Jan 19, 2016 11:49pm
Quoting dab
{quote} I agree with most of what you have said here, but am I the only one who sees the contradiction between these two quoted statements: 1. " I thank God EVERYDAY" 2. "compensated with money cuz that's the only thing that counts in this world nowadays"
How are they contradicting?
Make your losses in demo. Earn your profits live.
  • #492
  • Jan 20, 2016 12:08am Jan 20, 2016 12:08am
Quoting nubcake
{quote} I have you on ignore on principle. There's no debate - you are an absolute tool. Get a life. What sort of person sits on a forex forum every day whining about how unfair forex is? What a loser! I'm still waiting to hear what it would take for you to just fuck off, but still I'm sure you have nothing else to do than sit here demanding attention every single day of your sad little life.
I will ignore your slanderous and malicious remarks. I always try to be polite and respectful because I never know what horrible trouble someone may be in.
I think this is an important question: "Is forex trading worth it ?"
I will add some supportive information.
Have you seen this documentary ?
The reporter did her research, is that all she could find as representative of the forex retail world? ... even the one who appears to be making money (charlie) is there to promote his web site.
I am amused by how dismal it is compared to what people (perhaps such as yourself) would wish it to be.

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  • #493
  • Jan 20, 2016 12:13am Jan 20, 2016 12:13am
Quoting Forexia
{quote} How are they contradicting?
If money is the only thing that counts why bother thanking God for anything?
Hope for the best, prepare for the worst.
  • #494
  • Jan 20, 2016 12:15am Jan 20, 2016 12:15am
Quoting Mingary
blah blah blah
Pathetic. You know nothing of what my expectations are. Everyone knows what yours are, so you don't need to harp on about it every single day. Literally, get out and don't come back. Do yourself, and everyone else, a favor and just go away.

I suspect you are a gambler and simply can't walk away. It's sad, really. You literally have no reason to be here. Nobody wants or needs your input. I wonder how many have you on ignore.

Again, what will it take for you to go away? What is it that you need for you to move on with your sad little life?
Congratulations ScalaFX for coming out of the closet!
  • #495
  • Jan 20, 2016 12:23am Jan 20, 2016 12:23am
Quoting nubcake
{quote} Pathetic. You know nothing of what my expectations are. Everyone knows what yours are, so you don't need to harp on about it every single day. Literally, get out and don't come back. Do yourself, and everyone else, a favor and just go away. I suspect you are a gambler and simply can't walk away. It's sad, really. You literally have no reason to be here. Nobody wants or needs your input. I wonder how many have you on ignore. Again, what will it take for you to go away? What is it that you need for you to move on with your sad little life?...
My life is anything but sad.
You are not responding in an intelligent manner, which means you are being emotional.
My guess is you have lost a lot of money and you are in denial. You know something is wrong but you can't intellectualize it yet, that is why you come off this way to a total stranger.
  • #496
  • Jan 20, 2016 12:38am Jan 20, 2016 12:38am
Quoting Mingary
{quote} My life is anything but sad. You are not responding in an intelligent manner, which means you are being emotional. My guess is you have lost a lot of money and you are in denial. You know something is wrong but you can't intellectualize it yet, that is why you come off this way to a total stranger.
That's fascinating because it's like you are just describing yourself. Classic.

I'm not going to have a deep and meaningful with you. You aren't worth anyones time. I'm pretty much done with you and at this point I'm just wishing you would get yourself a hobby and go away. You mope around this forum with the worst fucking attitude towards FX. You are a nuisance. If "cringe" is an emotion then yes I'm emotional every time I see your name.

Even when I stumble onto random topics from years back you are there, moaning and whining about how unfair forex is.

I'm going to ask you one last time and then let you go on living your sad life. What do you need to go away? And don't pretend it's not a sad pathetic life, and don't bother trying to deflect it back on me. Your mopey posts speak volumes about you and your life. If you had better things to do than be a wet blanket on this forum, FOR YEARS, then you would go and do that. I wonder if you've ever stepped-away from this place, even for a day. You've been here less years than I have and have virtually the same amount of posts in that time. Figure that out.

Clearly you have nothing better going on in your life, and so here you are on FF being the resident whiner.

My apologies to everyone else for inducing him to post more. I'm done with him in this thread.
Congratulations ScalaFX for coming out of the closet!
  • #497
  • Jan 20, 2016 12:51am Jan 20, 2016 12:51am
Quoting nubcake
{quote} That's fascinating because it's like you are just describing yourself. Classic. I'm not going to have a deep and meaningful with you. You aren't worth anyones time. I'm pretty much done with you and at this point I'm just wishing you would get yourself a hobby and go away. You mope around this forum with the worst fucking attitude towards FX. You are a nuisance. If "cringe" is an emotion then yes I'm emotional every time I see your name. Even when I stumble onto random topics from years back you are there, moaning and whining about how unfair...
And what are you doing here ? I am certain you are not "trading for a living", perhaps you are "recruiting" ...
You have not given 1 single intelligent response to the question "Is forex trading worth it"
Tell us what is really going on.
  • #498
  • Jan 20, 2016 1:36am Jan 20, 2016 1:36am
Quoting Mingary
{quote} And what are you doing here ? I am certain you are not "trading for a living", perhaps you are "recruiting" ... You have not given 1 single intelligent response to the question "Is forex trading worth it" Tell us what is really going on.


Ming, whether or not forex trading is worth it is up the individual.

For me it is worth it.
1. It is a mental challenge.
2. It allows me to build wealth at my pace.
3. It makes you become generally financially literate.
4. It makes you become machine language literate.
5. It can make you a market historian.
6. It teaches you about the prime movers of an economy of different countries.
7. It teaches you about process.
8. It allows you to engage in a number of very interesting conversations with very interesting people!

Now it's your turn.

Just why exactly do you hang out on a forum about an endeavor that you do not believe is healthy? That is odd behavior to say the least.
If you are good at something, never do it for free--Joker
  • #499
  • Jan 20, 2016 2:56am Jan 20, 2016 2:56am
Quoting k6chris
The initial research I have been doing suggests that around 20% of traders can expect to end up with a profitable account but that overall and when viewed as a group, retail traders seem to show results in-line with random trading. http://papers.ssrn.com/sol3/papers.c...act_id=2711214 The good news is that the research I am working on now, does seem to show that there is nothing inevitable about these 'random-like' results and that there is plenty of non-random behaviour to trade. I will publish this second paper later this year....
Chris, not easy to attack an area like this from the outside and produce a solid, grounded paper - well done.
Two things stand out -
- If you want to get a more accurate picture of consistent profitable traders, speak to a couple of brokers off the record. One you take into account interest payments, frequency and consistency into account it's around 1%. They *know* all their profitable traders. i appreciate this is different from looking at a quarter and figuring out who's in the red/black.

- There's a wide gulf between academic view of group behaviour and a trader's. Solid edges get exploited, not published. There's a fuzzy middle ground - features that prove the market's non random but are difficult to trade. Mandlebrot published a lot on volatility signatures of different instruments for eg. Makes for difficult research. You'll probably need to hang around on nuclear phynance to get a better picture

Best of luck with the future papers
  • #500
  • Jan 20, 2016 3:05am Jan 20, 2016 3:05am
Hi There,
My 5 cents worth.
1. The business platform that gives us the opportunity to create wealth is FREE.
2. The currency pairs we trade have only 2 directions UP or Down.
3. The ODDS the way I see it are 50/50.
4. Trading can be as complex or as simple as you wish to make it.
5. Me I like the KISS principle "Keep it simple stupid"
6. Am I creating WEALTH or making a LIVING ? Yes I am.
7. Do I like trading the forex market ? Yes I do
8. Can we make a living when the World goes into recession ? Yes we can.
Cheers !!!
"THE KEY TO SUCCESS IS TO START WHEN YOU'RE NOT READY"
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