Forex as a Future? | Page 6 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

The Future of Forex? 83 replies

Is the future of a Forex trader secure? 7 replies

Hedging forex for the future 0 replies

Is it possible to forecast future Forex movements? 0 replies

Attachments: Forex as a Future?
Exit Attachments

Forex as a Future?

  • #101
  • May 15, 2016 12:34pm May 15, 2016 12:34pm
Contrary to many comments on here...I did not start this thread because I was angry or bitter or any else like that. Like I said in my opening post, I did leave with a profit, so there was nothing to be bitter about!!.. I simply packed it in, while I was ahead, because I believed that Retail Forex was created as a source of easy revenue for the brokers and eventually, system sellers.
I've been an entrepreneur for 35 years , so keeping an eye out for opportunities is a way of life for me. At the time Retail Forex appeared to be another potential source of revenue that should be looked into. At first glance it appeared promising, which is why I opened an account and started trading. Afterall...when opportunity knocks on the door....you have to open that door, if you want to know what's behind it. Like any endeavour you take on....you must be willing to put in the time and the effort if you want to reap the rewards. As part of the plan, there must also be, a reasonable expectation for profit, after a reasonable amount of time.....otherwise your just wasting your time, in my opinion. I couldn't find any of those attributes in Retail Forex....so along with my beliefs about the brokers, was the reason I packed it in.

Why am I here , in a forex forum...talking like this ?
I wanted to check out what was happening again, at Forex Factory, and possibly open an account again, but decided against it. So while I was here, why not start a thread....who knows...maybe I missed something the last 4 years, and besides...I do like conversation , different opnions and adversity !
  • #102
  • May 15, 2016 12:43pm May 15, 2016 12:43pm
Well i'm starting to see the funny side of this thread, it's all about ego (as always).
  • #103
  • May 15, 2016 12:54pm May 15, 2016 12:54pm
Quoting tunera
Well i'm starting to see the funny side of this thread, it's all about ego (as always).
Glad you see some humour....but it wasn't intented as funny, simply realistic!.....but finding humour in something is good!...I do the same.

As far as ego....you have me pegged wrong, as I'm a very humble person....but egos do run rampant here..Lol..
  • #104
  • May 15, 2016 1:26pm May 15, 2016 1:26pm
Quoting GibsonL6
{quote} Glad you see some humour....but it wasn't intented as funny, simply realistic!.....but finding humour in something is good!...I do the same. As far as ego....you have me pegged wrong, as I'm a very humble person....but egos do run rampant here..Lol..
ahahah, yeah ego is the most powerful force of the world.

anyway, with enough dedication and hardwork everybody can make it, the market can only go up or down, it isn't really soo much complicated.

problem is the average person is very lazy, so only a very few are willing to put enough efforts to learn the game.
the result is that only a very few are able to survive.

but it's ok because everyday new people join the party, so the market never gets lonely
  • #105
  • May 15, 2016 1:50pm May 15, 2016 1:50pm
Quoting tunera
{quote} ahahah, yeah ego is the most powerful force of the world. anyway, with enough dedication and hardwork everybody can make it, the market can only go up or down, it isn't really soo much complicated. problem is the average person is very lazy, so only a very few are willing to put enough efforts to learn the game. the result is that only a very few are able to survive. but it's ok because everyday new people join the party, so the market never gets lonely
I see you've been a member for 11 years or so...that certainly is dedication!
So....if you wouldn't mind....give us a brief overview of the following:

1- why do you still trade today
2- are you content with what you have achieved thus far
3- where do you see yourself in the future

No probs if you don't want to answer also,,
  • #106
  • May 15, 2016 3:31pm May 15, 2016 3:31pm
Quoting GibsonL6
{quote} I see you've been a member for 11 years or so...that certainly is dedication! So....if you wouldn't mind....give us a brief overview of the following: 1- why do you still trade today 2- are you content with what you have achieved thus far 3- where do you see yourself in the future No probs if you don't want to answer also,,
ok

1) because i like it, and because it gives me profits
2) sure
3) i've no idea, life is a continuous surprise

bonus question:

4) would you recommend trading to a friend of yours or a family member of yours?
No, it happened many times that friends of mine (and family members) asked me to teach them how to do it, or asked me if it was worth the effort.
I always told them to not even think about trading, to forget about it.
Why? because trading is just too much difficult to conquer, and i can understand that very few people have what it takes to do it.

But like many have already written in this thread, it is like this in any profession,
sports players: maybe 0.01% becomes "professional" and make a living out of it.
various professionals (engineers, lawyers, doctors, architects, scientists, psychologists etc. etc.): depending on which country you're from, you may be lucky to make enough money to pay the bills (big unemployment rate everywhere).
entrepreneurs: 95% of entrepreneurial activities fail within 2 years),.
singers, popstars, dancers, actors, models: well.. again 0.01% make it big.


i think that there are 2 kind of people in the world:
the ones that decide to achieve something, and work hard everyday for as long as it needed untill they reach what they want.
the ones who don't care, they prefer to play videogame, go out party everynight, waste time in various activities, and settle down for a low-wage job.

you've been an entrepreneur for 35 years (as you've written) so i think you are one who work hard everyday and reach what you want, and probably you can make it in trading too.
as i said in my last post, it's just a market that can either go up or down, only 2 directions, it is very simple.

we make it complex by adopting systems, indicators, gossip, timeframes, stoplosses, (over)leverage, and then we complain that it is too much difficult.

good luck
  • #107
  • May 15, 2016 3:43pm May 15, 2016 3:43pm
Quoting GibsonL6
Contrary to many comments on here...I did not start this thread because I was angry or bitter or any else like that. Like I said in my opening post, I did leave with a profit, so there was nothing to be bitter about!!.. I simply packed it in, while I was ahead, because I believed that Retail Forex was created as a source of easy revenue for the brokers and eventually, system sellers. I've been an entrepreneur for 35 years , so keeping an eye out for opportunities is a way of life for me. At the time Retail Forex appeared to be another potential...
Angry, bitter, and in denial.
  • #108
  • May 15, 2016 3:46pm May 15, 2016 3:46pm
Quoting tunera
think that there are 2 kind of people in the world: the ones that decide to achieve something, and work hard everyday for as long as it needed untill they reach what they want. the ones who don't care, they prefer to play videogame, go out party everynight, waste time in various activities, and settle down for a low-wage job.
  • #109
  • May 15, 2016 3:59pm May 15, 2016 3:59pm
Quoting GibsonL6
Contrary to many comments on here...I did not start this thread because I was angry or bitter or any else like that. Like I said in my opening post, I did leave with a profit, so there was nothing to be bitter about!!.. I simply packed it in, while I was ahead, because I believed that Retail Forex was created as a source of easy revenue for the brokers and eventually, system sellers. I've been an entrepreneur for 35 years , so keeping an eye out for opportunities is a way of life for me. At the time Retail Forex appeared to be another potential...
no one can judge trading alone.
there are some questions to answer
a-whay you trade
b-if there was another chance of making money would you trade
c-is forex trading your last chance
d-what you wait to get from trading
e-can you make same money from other jobs
f-would you trade if you can make money from somewhere else
g-hobby?
Attached Image
  • #110
  • May 15, 2016 4:03pm May 15, 2016 4:03pm
Life is a party, very true. What use is is it if there is no joy !
But that does not mean that enjoying yourself means you are not serious or only wasting time !

Trading is fun, the thrill of finding a potential good setup or strategy. The drive of programming it and making it into something understandable.
The backtesting, the analysing, seeing the indi form a picture that agrees or disagree with your idea. Definately some beauty is to be found there.

No get rich easy scheme. Believe that and be disappointed. Everything involving earning money takes effort. And everything involving money lures the sharks.
Better to enjoy what you do or start doing something else that makes you happy !
Being good at what you do is a result of having fun
  • #111
  • May 15, 2016 4:04pm May 15, 2016 4:04pm
this picture can give you some clue about forex.the last chance bar.forex search peak with 2008 october.the big crises
if you see forex as last chance then possibly it wont work
Attached Image (click to enlarge)
Click to Enlarge Name: fx.png Size: 25 KB
  • #112
  • May 15, 2016 4:08pm May 15, 2016 4:08pm
Quoting tunera
{quote} ok 1) because i like it, and because it gives me profits 2) sure 3) i've no idea, life is a continuous surprise bonus question: 4) would you recommend trading to a friend of yours or a family member of yours? No, it happened many times that friends of mine (and family members) asked me to teach them how to do it, or asked me if it was worth the effort. I always told them to not even think about trading, to forget about it. Why? because trading is just too much difficult to conquer, and i can understand that very few people have what it takes...
Thanks for your answers Tunera !...

So would it be fair to say that you are consistently profitable on a yearly basis and you are one of the very few traders that has accomplished this ?
And would it be fair to say that you have not attempted to plan anything for the future, and just leaving it to chance? Just asking because most plans, include at least some vision as to where their future will be.
  • #113
  • May 15, 2016 4:23pm May 15, 2016 4:23pm
Quoting tunera
{quote} 4) bonus question:
Tunera,
That's a good summary,

Trading is all about dedication and most people don't bother putting in the time required to learn
or don't have the ability or wiliness to change themselves.

Not all of us can become doctors or scientists, and the same with trading.
We don't bother putting in the effort or we are not made for it.
We have to accept that and move on and do something we are comfortable with.

If someone still wants the returns of forex trading they can let someone else do it for them.
There are plenty of traders out there who trade other people's accounts
but finding the right 1 can be tricky plus I think they charge up to 50% commission.
Have a nice day
  • #114
  • May 15, 2016 4:30pm May 15, 2016 4:30pm
Quoting GibsonL6
{quote} Thanks for your answers Tunera !... So would it be fair to say that you are consistently profitable on a yearly basis and you are one of the very few traders that has accomplished this ? And would it be fair to say that you have not attempted to plan anything for the future, and just leaving it to chance? Just asking because most plans, include at least some vision as to where their future will be.
No i'm not consistently profitable on a yearly basis (had a few losing years recently), but i'm very happy about it because having losses is the only way to learn new things, i just consider them lessons.

As for the future, i've some backup plans (or let's say some big plans), but due to my lazy nature i prefer to keep playing in the market for now.
  • #115
  • May 15, 2016 4:39pm May 15, 2016 4:39pm
Any wise and smart trader would handle trading INITIALLY as a HOBBY without major expecations and WITH A BUDGET.

Should it work out, then it might become a profession. If not, well, it was a expense spent on a hobby (which even a wife could digest within reaonable limits...).
  • #116
  • May 15, 2016 4:45pm May 15, 2016 4:45pm
Quoting tunera
{quote} No i'm not consistently profitable on a yearly basis (had a few losing years recently), but i'm very happy about it because having losses is the only way to learn new things, i just consider them lessons. As for the future, i've some backup plans (or let's say some big plans), but due to my lazy nature i prefer to keep playing in the market for now.
That is the answer for all of the possible questions.

All the mistakes, which one can make while trading, are in the personality.

If you have found a system for your trading, now you should find youself in your system.
your personality, psychology, or qualities of being a trader are your basis to build yourself in this business.

Personally I can say that all of the mistakes I have been doing while trading are the mistakes of my personality.

Lazy nature of people is just one of those qualities, which can not possibly afford you to become profitable.
But it is not the only one: emotionality can be the second. and so on, you can find yourself.

Best
D.P.
Hunting High and Low
  • #117
  • Edited 5:10pm May 15, 2016 4:45pm | Edited 5:10pm
Quoting tunera
{quote} No i'm not consistently profitable on a yearly basis (had a few losing years recently), but i'm very happy about it because having losses is the only way to learn new things, i just consider them lessons. As for the future, i've some backup plans (or let's say some big plans), but due to my lazy nature i prefer to keep playing in the market for now.
So, would you say that you are the average lazy person, not willing to put in the effort at this time to secure his future?...but will , when the time is right ?
If not consistently profitable yet, would you have no problem putting in another ten years, until you can see consistent profits?
  • #118
  • May 15, 2016 4:52pm May 15, 2016 4:52pm
As already mentioned in another thread, a good trader friend of mine has commited suicide about 2 weeks ago after 8 years of unsuccessful FULL TIME trading and burning through $250k+ ... She was an economist by education and well beyond 10,000+ hours of monitor time...

And yes, she did it because of failing in trading...
  • #119
  • May 15, 2016 4:57pm May 15, 2016 4:57pm
Quoting MasterGuru
As already mentioned in another thread, a good trader friend of mine has commited suicide about 2 weeks ago after 8 years of unsuccessful FULL TIME trading and burning through $250k+ ... She was an economist by education and well beyond 10,000+ hours of monitor time... And yes, she did it because of failing in trading...
SO SAD....

Unbelivable.

Best
D.P.
Hunting High and Low
  • #120
  • May 15, 2016 4:59pm May 15, 2016 4:59pm
Quoting MasterGuru
As already mentioned in another thread, a good trader friend of mine has commited suicide about 2 weeks ago after 8 years of unsuccessful FULL TIME trading and burning through $250k+ ... She was an economist by education and well beyond 10,000+ hours of monitor time... And yes, she did it because of failing in trading...
My sincere condolences MasterGuru..Unfortunately it happens to frequently, when someone loses their life savings!
0 traders viewing now