I plan to quit forex! | Page 13 | Forex Factory

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  • #241
  • Mar 6, 2016 2:20pm Mar 6, 2016 2:20pm
Quoting tunera
{quote} no reason to be so defensive, i only stated an objective truth. We are all free to choose what to believe in.
If you are sure to hold some objective truth about anything, then it's not a belief; it's a fact.
And I agree 100 % that it is gambling (as an objective truth)
There is nothing wrong with gambling. What's really sad and deceptive is that some people try to treat spot retail forex trading as a business.
  • #242
  • Mar 6, 2016 2:44pm Mar 6, 2016 2:44pm
Quoting Mingary
{quote} Totally agree. Except that all of the above does not apply to Retail Forex trading
As you are obviously a man of such talent and experience I am interested in understanding why you believe there is such a great difference between trading currency contract and other contracts? Why trading a currency derivative is so different to any other, financial and or soft and hard markets?

Many thanks Mingary.

I look forward to gaining a better understanding through your knowledge of the markets.
  • #243
  • Mar 6, 2016 3:34pm Mar 6, 2016 3:34pm
Quoting Mingary
{quote} Totally agree. Except that all of the above does not apply to Retail Forex trading
Yes they do if you just get off this forum and start working on your trading and you will see everything that happens in the non-trading world applies to retail forex trading or trading in any market. To deny that is to admit defeat. Like I said,

Quoting Forexia
{quote}That's the behaviour of somebody who's going to stay at the bottom forever and tries to make themselves feel better by convincing themselves and trying to convince others that top doesn't exist and reaching the the top is not possible. Quite sad.
Make your losses in demo. Earn your profits live.
  • #244
  • Mar 6, 2016 3:38pm Mar 6, 2016 3:38pm
I afree with Mingary. To some extent this is a game, speculation. As with gambling, you can use mathematics to predict, but what unites forex and gambling - it's thirst for excitement.
Therefore, I wrote that if you trade forex, then this may not be your income on which you will rely on 100%. I do not argue with the fact that everyone is interested in as you can, at all different ways.
  • #245
  • Mar 6, 2016 3:46pm Mar 6, 2016 3:46pm
Looks are people blowing steam here and spewing unsolicited wisdom.
This is hilarious. I think the guy who started this is rolling over and
Live life king size !
  • #246
  • Mar 6, 2016 3:48pm Mar 6, 2016 3:48pm
Quoting DenForex
I afree with Mingary. To some extent this is a game, speculation. As with gambling, you can use mathematics to predict, but what unites forex and gambling - it's thirst for excitement. Therefore, I wrote that if you trade forex, then this may not be your income on which you will rely on 100%. I do not argue with the fact that everyone is interested in as you can, at all different ways.
Anything can be turned into gambling.
Some say playing Poker is gambling not understanding the maths behind a bet and the probability of making a certain hand.
May be you are aware that there are people who play poker to pay for their rent and grocery bills. Go see how they play it. You will throw up in boredom.
Gambling ..... it's for the adrenaline junky.
Live life king size !
  • #247
  • Mar 6, 2016 3:52pm Mar 6, 2016 3:52pm
I again worn everyone this thred is high jaked
  • #248
  • Mar 6, 2016 3:52pm Mar 6, 2016 3:52pm
Quoting foxtrader16
Looks are people blowing steam here and spewing unsolicited wisdom. This is hilarious. I think the guy who started this is rolling over and
the guy left eons ago and the rambling still goes on.
  • #249
  • Mar 6, 2016 4:01pm Mar 6, 2016 4:01pm
And so, what we have come. All are going to play poker?
  • #250
  • Mar 6, 2016 4:14pm Mar 6, 2016 4:14pm
Quoting DenForex
To some extent this is a game, speculation. As with gambling, you can use mathematics to predict, but what unites forex and gambling - it's thirst for excitement.
My trading mentor at trading desk once taught me that trading MUST me boring as hell. "If you seek excitement go sky diving or bungee jumping", he said. After years of trading experience, I couldn't agree with him more. As soon as trading makes you sweat, you are either risking too much or gambling.
  • #251
  • Mar 6, 2016 5:18pm Mar 6, 2016 5:18pm
​Trading is easy, once you build your rules, stick to them religiously and never break them. Last year I managed a 100% profit or better each month (after 7 years of screwing up), but in my last month of last year I nearly wiped my account, why? Because I broke one of my cardinal rules, I traded when I was ill (I've found that illness messes with my perceptions of risk). Right now I'm 58% down on my account equity and very slowly recovering. This business is very expensive to learn but if you get there, it can make you loads of money.

To the OP take a break, earn a little money and invest a tiny amount, lose it, invest a tiny amount more, lose it, eventually you may learn how it works, but the key thing here is "TINY" amount, don't bet the farm. That is the only advice I will give nowadays about forex, I'm not a guru like some.
I operate with clear definite rules, if I break them I lose BIG!
  • #252
  • Mar 6, 2016 6:04pm Mar 6, 2016 6:04pm
Quoting Icannaesee
​Trading is easy, once you build your rules, stick to them religiously and never break them. Last year I managed a 100% profit or better each month (after 7 years of screwing up), but in my last month of last year I nearly wiped my account, why? Because I broke one of my cardinal rules, I traded when I was ill (I've found that illness messes with my perceptions of risk). Right now I'm 58% down on my account equity and very slowly recovering. This business is very expensive to learn but if you get there, it can make you loads of money. To the...
Excellent post.
  • #253
  • Mar 6, 2016 6:07pm Mar 6, 2016 6:07pm
Quoting Tom81
{quote} My trading mentor at trading desk once taught me that trading MUST me boring as hell. "If you seek excitement go sky diving or bungee jumping", he said. After years of trading experience, I couldn't agree with him more. As soon as trading makes you sweat, you are either risking too much or gambling.
Nice one...

This is a sentence from one of my articles soon to be published:

"Overall, trading should be a passion that is boring – it may sound illogical or incorrect but look at it this way: Every market situation is unique and therefore we can be passionate about analyzing and predicting the market moves. But we will be bored by executing our consistent trading strategy."

Cheers to all
  • #254
  • Mar 6, 2016 7:24pm Mar 6, 2016 7:24pm
Ok, so if where going down the "This is just gambling route" then just think about anything you do in life to generate an income? Is it not all gambling?

You go to school, study hard, go to uni pay a fortune in fees and study hard all for nothing more but a chance to be what you want to be and earn the big bucks. So is this not gambling? Nothing is guaranteed. So you should just do nothing i guess unless you are 100% certain your goals will be achieved?

Lets look at sports stars? They work their whole life just for a chance... And a very small one at that!

And even when you do choose a career or organisation to work for whats not to say they go bust? Whats not to say your choose career does not become automated and you end up in the unemployment line?

Any form of investing can be considered a gamble. Weather it is investing in stocks, Fore, a business or yourself. Everything has a degree of success and failure. And if you think you control your own destiny then you are the delusional one. There are only a very few people in the known world that actually control their own fates. But even they cannot control everything. So i really think the "Its just gambling" argument is somewhat obsolete.

Net thing on the agenda. "If people make money on fore then show me! Who!?"

Tell me, what do you do for work? and how much do you make? So can you prove it by posting your work contract and pay slip on line. Oh and please include a copy of your bank account.

I don't know many people who would do that. So why would someone post financial information of their Forex account or any other trading account on line?

Lastly, people who scalp the 1 minute chart then get burned and become bitter really should not be on here.

The only way to kill a troll is to stop feeding it people!
  • #255
  • Mar 6, 2016 7:51pm Mar 6, 2016 7:51pm
So as i was saying before my reply got deleted.

You need to switch to an ECN broker. If you are on a retail broker like fxcm or oanda you will get nailed easily. They are market makers. They will not send any of your trades to the interbank. This is why trading seems impossible, because it is when you trade with these people as your broker. Go to an ECN broker and i guarantee your systems will start working and your trades will start winning.
  • #256
  • Mar 6, 2016 7:57pm Mar 6, 2016 7:57pm
Quoting mrhigurashi
Ok, so if where going down the "This is just gambling route" then just think about anything you do in life to generate an income? Is it not all gambling? You go to school, study hard, go to uni pay a fortune in fees and study hard all for nothing more but a chance to be what you want to be and earn the big bucks. So is this not gambling? Nothing is guaranteed. So you should just do nothing i guess unless you are 100% certain your goals will be achieved? Lets look at sports stars? They work their whole life just for a chance... And a very small one...
20 Pips a day keeps centerlink away
  • #257
  • Mar 6, 2016 8:35pm Mar 6, 2016 8:35pm
i worn everyone this thred is high jaked
  • #258
  • Mar 6, 2016 9:03pm Mar 6, 2016 9:03pm
this thread is like , when go to a bar. u said to drinker i want get rid off drink. then drinker saying no keep drinking
  • #259
  • Mar 7, 2016 12:36am Mar 7, 2016 12:36am
I see Mingary is STILL spinning his unproven theory as objective fact lol...
Quite some time ago, I gave him the names of at least 2 professional forex traders but he refuses to contact them to see if they are legit
Come with me if you want to live....
  • #260
  • Mar 7, 2016 1:03am Mar 7, 2016 1:03am
Quoting high321
i worn everyone this thred is high jaked
No need to highlight and make them on bigger font...
It's annoying..
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