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  • #181
  • Jun 28, 2012 9:28pm Jun 28, 2012 9:28pm
Quoting pip_seeker
Yeah both can take your money and neither will appologize for it.
  • #182
  • Apr 21, 2016 6:01am Apr 21, 2016 6:01am
Quoting hanover
{quote} It's true that, everything else being equal, costs make trading a negative expectancy exercise. But unless one has omniscient knowledge of all possible trading approaches and market outcomes, it's impossible to prove that "trading forex profitably long term is impossible". Conversely, it would take only one profitable trader to disprove your statement. I happen to have a friend who's been consistently profitable for more than 4 years now. I anticipate that you'll argue that he's merely been fortuitous thus far, and that the law of large...
You said it all, just because a trader is not profitable doesn't mean profitable trading is impossible
  • #183
  • May 11, 2016 8:14pm May 11, 2016 8:14pm
To get profit in forex trading is possible as long as we can manage capital well to continue to learn and practice trading. we only need to have the skills and knowledge of good trading to make profits in forex trading
  • #184
  • May 12, 2016 7:06am May 12, 2016 7:06am
Being profitable on a cosistent basis possible, but it isn't easy. It requires quite a bit of effort, time, energy and money to learn and practise, and many people give up on it before they get to that point, but it is very much possible.
  • #185
  • May 13, 2016 2:38am May 13, 2016 2:38am
I believe for some traders forex is profitable,many people change their life by forex trading.But if you don't have enough knowledge and experience then it may harmful for you.
  • #186
  • May 13, 2016 12:10pm May 13, 2016 12:10pm
I agree with a.miller. I know a lot of people who make a living thanks to forex. But these people have huge knowledge about forex market
  • #187
  • May 14, 2016 1:08am May 14, 2016 1:08am
People who don't understand forex, call it gambling and people who do understand it, call it work.

In Finland we don't even have a forex profession. The word for forex trader is "valuuttakeinottelu" witch is very negative word and it sounds to common people as some what criminal or wierd.
When you say that youre a forex traider, you are labeled as some one who steals money from good people and should be shot as a criminal.
So, anybody who is a forex trader usuly say they are in "banking".
its crazy, but ignorance is a dangerous thing.
  • #188
  • May 14, 2016 5:42am May 14, 2016 5:42am
Quoting TJPLD
Nice logic. "I'm not profitable -> no one can be profitable."
Indeed
  • #189
  • May 15, 2016 5:59am May 15, 2016 5:59am
Quoting Snah
People who don't understand forex, call it gambling and people who do understand it, call it work. In Finland we don't even have a forex profession. The word for forex trader is "valuuttakeinottelu" witch is very negative word and it sounds to common people as some what criminal or wierd. When you say that youre a forex traider, you are labeled as some one who steals money from good people and should be shot as a criminal. So, anybody who is a forex trader usuly say they are in "banking". its crazy, but ignorance is a dangerous thing.
Wow... I really respect Finland as a country and this is first time I hear something like this. Probably this is some sort of truth because people who won in forex basically take money from people who actually lost in forex.. but i would never call somebody (who won in forex) a thief or criminal. Everybody involved in forex market must accept that they can lose money to someone. Anyway I understand that people from Finland are people of work and they dont need to take a part in forex market maybe this is the reason of having negative word about forex traders
  • #190
  • May 16, 2016 12:31pm May 16, 2016 12:31pm
Quoting kuleszainves
{quote} Wow... I really respect Finland as a country and this is first time I hear something like this. Probably this is some sort of truth because people who won in forex basically take money from people who actually lost in forex.. but i would never call somebody (who won in forex) a thief or criminal. Everybody involved in forex market must accept that they can lose money to someone. Anyway I understand that people from Finland are people of work and they dont need to take a part in forex market maybe this is the reason of having negative...
I agree with what Snah said about Finnish attitude towards Forex. Also taxation on currency trading is nonsensical. If I trade Euro pairs I must pay ~30% taxes from EVERY SINGLE WINNING TRADE. That means that if I win 10000€ and lose 10000€ (+-0€ change in balance) I must still pay 3000€ in taxes.
Fortunately if I trade in other currencies and have my account in for example dollars I only pay taxes from the money I withdraw from the broker.
  • #191
  • May 18, 2016 11:46pm May 18, 2016 11:46pm
Quoting a.miller
I believe for some traders forex is profitable,many people change their life by forex trading.But if you don't have enough knowledge and experience then it may harmful for you.

yes, but to become a profitable trader is not easy, we have much to learn and practice trading. so we will have a lot of knowledge, and experience, and skill well for us to manage capital well
  • #192
  • May 21, 2016 12:46am May 21, 2016 12:46am
there is so many twisted witty logic here LOL, but yeah last comment i have to agree with being profitable in forex especially us retail traders is not as easy as many think, consitency is not an easy game to play, in the long run, your track is what matters but we wont be here if we did not make a decent buck never the less.
  • #193
  • May 21, 2016 6:13am May 21, 2016 6:13am
Only analogy I got for forex is driving car blindfolded in crazy roud and paying penalties when goes wrong. if road was 45 degre down for 50m then goes up for 200m 35 degree then goes down 30m 20 degree now put blindfold and drive. I dont know any man who can drive blindfolded.
  • #194
  • May 24, 2016 4:15am May 24, 2016 4:15am
Quoting Snah
People who don't understand forex, call it gambling and people who do understand it, call it work
Can't have said it any better.

Get a system in place. Have your rules and follow it.
  • #195
  • May 25, 2016 8:05am May 25, 2016 8:05am
It's definitely not an easy task...everything is based on our knowledge and ability..so everything is possible..
  • #196
  • May 25, 2016 12:34pm May 25, 2016 12:34pm
Quoting Buffet
If being right more than 50% of the time is possible, and in my case and many others probable. Then logically that would inevitably lead to profitability. And sustained profitability at that.
I know this is an old post, but when I read how brainless this buffet person is, just had to point it out, as no one picked up on it at the time. Braindead morons trying to trade, without a simple grasp of numbers. No wonder most fail
  • #197
  • May 26, 2016 7:50am May 26, 2016 7:50am
Quoting Maarten999
But I have a question: how can anyone trade forex profitable for some time, lets say a year.
You trade for 10 trying to get rich quickly, blow a few accounts, take a break for a year, trade for another 2 years, now paying attention to money management and deleting the 45 indicators you had in one screen, and THEN you trade forex profitable for some time, let's say a year
  • #198
  • May 26, 2016 10:48am May 26, 2016 10:48am
This should be interesting for many here.

Inserted Video
  • #199
  • May 26, 2016 11:42am May 26, 2016 11:42am
Hey Kman,

It's really interesting but I think there's a subtle but very important different between random and chaotic (in Chaos Theory's context, I mean).
The problem is that it can't be used as a proof. The methodology is incorrect.
You can't "prove" by deciding subjectively that "it seems to me that it looks like a forex chart" when in fact it doesn't. A person who doesn't know much about art can see two De Kooning's or two (__pick your contemporary artist__) and say they look exactly the same, and in fact (the line that exposes the truly ignorant (in the good sense, not offensive)) is "my son could have painted that".
I'm not saying he is ignorant, I'm not saying this is not interesting, in fact I think exactly the opposite about both things: the guy is extremely clever and his "finding" is extremely interesting. I'm saying that there's a subtle difference between a random model and a chaotic model and that difference is difficult to find. I'd say it's as difficult to find as a profitable system or trader and I wouldn't be surprised both percentages were very close.
  • #200
  • May 26, 2016 11:48am May 26, 2016 11:48am
See the charts he shows. You say "something doesn't fit", kind of where you trade EURUSD many hours in a row and then you switch to GBPJPY. There's something you feel (it's not the verb but our lack of understanding about how the mind works with patterns and unifies them makes me use it) similar to the charts he shows.
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