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  • #441
  • Mar 11, 2016 4:46am Mar 11, 2016 4:46am
Quoting bagman
{quote} Your problem is that you did not see that you did start blind. You think it was that easy? You just read some books then you earned the right to get rich in forex? You lost a lot of money and did not learn from the mistakes. My guess, overleveraged revenge trading. The emotion you are feeling right now is envy. Because you know someone out there is getting $$$$$ from this game. So you mind constructs this fantasy that forex must be a scam to protect your self esteem. Envy is a natural emotion and everyone feels it. And your story does not...

1. He is trying to talk people out of forex because it does actually make him money so he tries to prevent more possible opponents from entering the market.
==> Again, are you making a living trading the spot retail forex as you only source of income ?
I think not. Cold statistics are on my side.

2. He is trying to trick someone with a working strategy into rage-answering his posts about forex is such a scam, therefore accidently revealing it for him
==> There is no such thing as a "working strategy".

All I can say is that those who are really making tons of money from this industry have a vested interest in continuing to entice the gullible.
  • #442
  • Mar 11, 2016 4:49am Mar 11, 2016 4:49am
Quoting Mingary
{quote} 1. He is trying to talk people out of forex because it does actually make him money so he tries to prevent more possible opponents from entering the market. ==> Again, are you making a living trading the spot retail forex as you only source of income ? I think not. Cold statistics are on my side. 2. He is trying to trick someone with a working strategy into rage-answering his posts about forex is such a scam, therefore accidently revealing it for him ==> There is no such thing as a "working strategy". All I can say is that those who are...
Now you are doing it again, trying to trick someone into revealing their secrets by declaring something as a fact in a way that they could only disprove you if they would reveal their secrets.
Price-Action Extremist
  • #443
  • Mar 11, 2016 4:50am Mar 11, 2016 4:50am
Trade with trend
Same lot size
Each and every time till u double the amount u allocates for one trade
......!............!
Trade fearless not careless...
Syed Mohsin Ali Profit This Month: -753
  • #444
  • Mar 11, 2016 4:53am Mar 11, 2016 4:53am
Quoting djbenny1
​If 95% of "traders" fail, I'll take those odds. I'll back myself against 19 scorned, crying babies like Mingary etc. every time. I'm just over a year into my journey and more determined than ever despite not making a penny. Others can do it, therefore I can do it and I will do it - that's all I need to know. The question I'm asking myself is why these failed traders are still here on a forum that discusses forex above all else?
Very true...Instead they learn they insists on his bad habits of loosing..
Trade fearless not careless...
Syed Mohsin Ali Profit This Month: -753
  • #445
  • Mar 11, 2016 4:55am Mar 11, 2016 4:55am
Quoting Nabz
{quote} There is a fine line between trading and investing. I was specifically referring to trading forex, but trading other markets is not so different. Investing has great potential. I purchased shares of a local cement company when a lot of government infrastructural projects were being planned. The price dropped upto 15%, but I didn't care as I was invested in the company. After a year and a half when those projects were under-way I sold those shares for 110% profit. You can invest in currencies too, I converted all my cash savings to U.S. dollars...
Thanks for the response Nabz. I can see where you are coming from.
  • #446
  • Mar 11, 2016 5:00am Mar 11, 2016 5:00am
Quoting fxstaton
I have no luck in forex. Initial period I get profit, and few months all profits and capital are gone. I think I am not suitable in forex and will quit all and back to work
Well maybe manual trading puts too much emotional stress on you. Why not try automated or semi automated trading? I was learning Price action with SNR manual trading blew up 5 live accounts. Now I switched over to semi automated trading. So far it brings the stress away. 1% a day is my current target...

Keep searching you will find the strategy which suits u best. What is suitable for your friend may not be suitable for u.

That's all I can share
Time is a double edge sword, so is spread betting...
  • #447
  • Edited 5:35am Mar 11, 2016 5:21am | Edited 5:35am
Quoting bagman
{quote} Now you are doing it again, trying to trick someone into revealing their secrets by declaring something as a fact in a way that they could only disprove you if they would reveal their secrets.
Your assumption is incorrect. For one thing, this web site is a marketing channel for fx brokers. I have a feeling too much scrutiny on the reality of forex is eating into their lunch (:
  • #448
  • Mar 11, 2016 5:26am Mar 11, 2016 5:26am
Quoting bagman
{quote} Your problem is that you did not see that you did start blind. You think it was that easy? You just read some books then you earned the right to get rich in forex? You lost a lot of money and did not learn from the mistakes. My guess, overleveraged revenge trading. The emotion you are feeling right now is envy. Because you know someone out there is getting $$$$$ from this game. So you mind constructs this fantasy that forex must be a scam to protect your self esteem. Envy is a natural emotion and everyone feels it. And your story does not...
You clearly don't understand simple words that I have written. To elaborate, I said I read books but later found that it was not enough. I did not lose $10K overnight as mentioned, its over 2 years and on 5 accounts. I don't care much about $10K loss but the amount of time and energy I wasted on this sh*t. It hurt my business as I was wasting my time on forex instead of focusing on my business. It consumed me completely. I was like a drug junkie, only that my drug was forex trading. Time is money!
I see that you joined this forum 2 months ago. I am going to assume that you're new to forex trading. Enjoy your enthusiasm while it lasts.
  • #449
  • Mar 11, 2016 5:42am Mar 11, 2016 5:42am
Quoting bagman
{quote} Now you are doing it again, trying to trick someone into revealing their secrets by declaring something as a fact in a way that they could only disprove you if they would reveal their secrets.
lol, This is the major misconception of traders especially newbies that there is a closely guarded secret to unlimited riches in forex trading. There are only banks cashing in your money. Don't believe me? Then read this article.

http://www.nytimes.com/2015/05/21/bu...ases.html?_r=0

They pay the fine which is fraction of what they mint from traders and get right back to it.
  • #450
  • Mar 11, 2016 5:58am Mar 11, 2016 5:58am
Quoting Nabz
{quote} You clearly don't understand simple words that I have written. To elaborate, I said I read books but later found that it was not enough. I did not lose $10K overnight as mentioned, its over 2 years and on 5 accounts. I don't care much about $10K loss but the amount of time and energy I wasted on this sh*t. It hurt my business as I was wasting my time on forex instead of focusing on my business. It consumed me completely. I was like a drug junkie, only that my drug was forex trading. Time is money! I see that you joined this forum 2 months...
If you can not handle the emotional pressure that does not negate the forex market.


Quote
lol, This is the major misconception of traders especially newbies that there is a closely guarded secret to unlimited riches in forex trading. There are only banks cashing in your money. Don't believe me? Then read this article.

http://www.nytimes.com/2015/05/21/bu...ases.html?_r=0

They pay the fine which is fraction of what they mint from traders and get right back to it.

The post you are quoting was directed at mingary, not you. And yes, everyone has their secrets how to "make it".

And how does that article about price fixing affect me as a trader? It did not affect me so far, whenever I lost large amounts of money it was not some secret magic causing it but bad decisions. You got stuck early in your forex experience with too much frustration. If it does not work out for you, does not mean it does not work for anyone else. Again it is envy constructing a scenario to shield your self esteem from damage.

Let me show you a pattern:
If I win I am a supreme decision maker and king of the world. If I lose it's the evil market sabotaging my awesomeness!

If you win it is easy to accept that the win is caused by your own awesome decisions. But when you lose it is so much harder to accept the blame, easier to blame it on something else. The invisible hand of the free market does not care if you are successful businessman before you start playing the forex. If you don't duck in the right moment the invisible hand of the free market will slap you in the face, backhanded.
Price-Action Extremist
  • #451
  • Edited 6:28am Mar 11, 2016 6:26am | Edited 6:28am
[Skip down 2 paras for the point... ] Hello there to the two most recent posters... I am exhausted atm and headed to work super early here. I have been up for quite a while. Several meetings' worth of paperwork to put into the online system - into a system I now know is interconnected and tracking all private information of every student I have and making it available to corporations and other interested parties - totally against "FERPA" = the privacy rights of parents federal act Obama got around via executive order. That is just the tip of the iceberg of badness.

Then I have a day of dealing with disturbing behavior from a student eligible for sped under Emotional Disability (actually, two of them). There is much more to say - of course - each individual writing on this thread has their own peculiar, particular history. My other complaint is an impossible commute and a schedule that leaves me spent, and I am a strong person.

TO THE POINT: I am definitely leaving at the end of this academic year.

Most recent reply says it better than I could: doesn't matter to me what is going on around me; what matters to me is that I take profit when it is right in front of me. The decisions I make are the only thing that help or hurt me trading.

MONEY IS BEING EXTRACTED all the time: so "what else is new?" ... we have a parasite on top of us with the kind of people running the private federal reserve.

We also have the monster GS called by Matt Taibi the VAMPIRE SQUID - also extracting wealth worldwide with no conscience.The only thing that matters to me is using my own head to trade "smart." It can be done; I have done it, and it takes no more than that to go forward.

I enjoy listening to various videos and podcasts as I trade, too. It connects me with a wide variety of people world-wide.

This particular year, too, in the US we have DJT - this is going to be "YUUUUUUGE" and I want to be around for the viewing. This has been building up for my entire conscious life.
  • #452
  • Mar 11, 2016 6:27am Mar 11, 2016 6:27am
Although the article posted from the NY times is from last year, it is about an issue that was happening only until 2013. And what was happening was pretty much like insider trading.

But the price went one way. So if you where in the same direction these banks where wanting the price to go they you would have won as well. What was done in this article does not make a retail trader loose at Forex. If you know what to look at you can see the patterns. Happens almost everyday at the beginning of the London session. Why does price spike one way then go the other with a move twice as big??? Because most traders are suckers and they trap the suckers take out their stops and the rest is history.

And the old argument that brokers hunt stops... please. If they did this for each individual trader could you imagine what the charts would look like? You would have a different chart for every person. Once again, they don't need to do any micro management on accounts as most traders trade the same way and make the same mistakes. Thus making it easy for bug money to take advantaged of them.

Now some stories of brokers causing trading platform outages or widening spreads to unbelievable levels may be true. But i have not seen this yet in my experience. Easy to test, just have more then one broker. If you think you really are being cheated you will see. Then its simple. Stop trading or change brokers.
  • #453
  • Mar 11, 2016 6:33am Mar 11, 2016 6:33am
As I realized the thread was not created just to wish him good luck. He wants to change his mind and be persuaded to stay in forex.
In fact, if the decision is made - not to talk about here. If you want advice to stay, I can say that everything is going from internal condition. if you want something to work towards. There's an opinion when people give up they're more closest to success at the moment. Think about it.
Looking for partners
  • #454
  • Mar 11, 2016 6:34am Mar 11, 2016 6:34am
Quoting bagman
{quote} If you can not handle the emotional pressure that does not negate the forex market. {quote} The post you are quoting was directed at mingary, not you. And yes, everyone has their secrets how to "make it". And how does that article about price fixing affect me as a trader? It did not affect me so far, whenever I lost large amounts of money it was not some secret magic causing it but bad decisions. You got stuck early in your forex experience with too much frustration. If it does not work out for you, does not mean it does not work for anyone...
You can make bad decisions in investing, not in trading. Just like you can't make bad decisions on slot machine. I see that the market has treated you really well in last 5 years. Lets have a look.

Broker: OANDA
Live/Demo: Live
Account Opened: Dec 21, 2011
Account Age: 5 years
Custom Start: Feb 22, 2016
Custom Age: 19 days

Custom 19 days start of 5 years old account and still you are in 37% loss. You can do it, just 5 more years to the holy grail.
  • #455
  • Mar 11, 2016 7:09am Mar 11, 2016 7:09am
Quoting Nabz
I even wrote over 100,000 lines of code for a single EA which obviously didn't work for long.
Sir, I think I found the problem.

Good trading systems tend to be so simple you could fit their rules on the back of an envelope.
  • #456
  • Mar 11, 2016 7:10am Mar 11, 2016 7:10am
Quoting Nabz
{quote} You can make bad decisions in investing, not in trading. Just like you can't make bad decisions on slot machine. I see that the market has treated you really well in last 5 years. Lets have a look. Broker: OANDA Live/Demo: Live Account Opened: Dec 21, 2011 Account Age: 5 years Custom Start: Feb 22, 2016 Custom Age: 19 days Custom 19 days start of 5 years old account and still you are in 37% loss. You can do it, just 5 more years to the holy grail.
Still got farther than you, because I am not declaring forex a scam because some of my trades tanked. There is nothing you can do about it, you lost in a game where some people do in fact win. And your self-esteem can not handle it.

I messed up hard 2 weeks ago, risked too much, should have known better. But made 34% last week, on a 1:50 leverage account. So I am pretty confident about what I can do. Point is, these are my wins and my losses, I took responsibility for both instead of blaming the losses on the evil market.
Besides I could have just made a new explorer with a new account to hide all the scars of my account. These scars taught me the game. Part of the experience some would say.
Price-Action Extremist
  • #457
  • Mar 11, 2016 7:14am Mar 11, 2016 7:14am
A trader is first and foremost a risk manager.

The trading system that generates trade ideas is irrelevant if you can not manage risk adequately.
  • #458
  • Mar 11, 2016 7:17am Mar 11, 2016 7:17am
Quoting bagman
{quote} Still got farther than you, because I am not declaring forex a scam because some of my trades tanked. There is nothing you can do about it, you lost in a game where some people do in fact win. And your self-esteem can not handle it. I messed up hard 2 weeks ago, risked too much, should have known better. But made 34% last week, on a 1:50 leverage account. So I am pretty confident about what I can do. Point is, these are my wins and my losses, I took responsibility for both instead of blaming the losses on the evil market. Besides I could...
I'm getting bored of this. You've your opinion and I've mine. Lets leave it at that.
  • #459
  • Mar 11, 2016 7:23am Mar 11, 2016 7:23am
Quoting Nabz
To elaborate, I said I read books but later found that it was not enough. I did not lose $10K overnight as mentioned, its over 2 years and on 5 accounts. I don't care much about $10K loss but the amount of time and energy I wasted on this sh*t. It hurt my business as I was wasting my time on forex instead of focusing on my business. It consumed me completely. I was like a drug junkie, only that my drug was forex trading.
Thank you for sharing your process.

A system than randomly enters and exits the market risking a fixed percentage of the account each time would more than likely give you breakeven results over the long run (less transaction costs). Perhaps you should look closely at your trading and determine what exactly you are doing to deliberately obtain worse than random results.
  • #460
  • Mar 11, 2016 7:36am Mar 11, 2016 7:36am
Quoting forexgaint
But I am from US - you fool $ {quote} ​
Ah ok, that explains a lot, thanks.
Fix up, trade sharp ...
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