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Trading 24 hours per day, 5 days per week 14 replies

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(binned per thread starter’s request) Classy Women, Supercars, Fr

  • #21
  • Edited 10:06am May 16, 2016 9:21am | Edited 10:06am
Quoting MasterGuru
{quote} Unfortunatly it is true. About 6 years ago my friend - an economist by education - decided to learn the "art of trading" and to become a full time trader. She assumed that trading can be learnt the same way as economics, i.e. by devotion and diligent hard work. She has visited live trading courses, purchased online stragies and numerous EAs, used signal providers and tried and tested multiple own strategies over the years. She sat in from of the monitor from early morning till late evening every day. In spite of the losses - considering...
I am terribly sorry to hear such news. Sadly, I am not surprised.
There is no doubt that retail forex trading destroys lives. What is even more obscene is that in order for the forex machine to continue working, lives must be destroyed. It must be fed cannon fodder (traders' account) and it is insatiable. The prosperity of the forex industry is based on the losses and therefore spits out misery as it's ROI for it's members. Where are the customer's yachts ?
It is a truly malevolent construct. And it is most evil when the forex enthusiasts themselves regard it as "a way to financial freedom".
When this "freedom" is touted by the forex industry marketing bugles, you can be sure it means "slavery", you are the slave and eventually they will own you if you are hooked, in some cases even your life....

oops sorry, is that a "trading inspiration" thread ?
  • #22
  • May 16, 2016 10:11am May 16, 2016 10:11am
Quoting ninZa
Photo for illustration Everyone loves beauty; especially, men love classy women. And classy women select men with assets, talents, confidence.
haha so true, doesn't matter much if you are fat ugly or old. If you have the resources, there is a hot woman that will want your meat!
All posts are my personal opinion
  • #23
  • May 16, 2016 11:56am May 16, 2016 11:56am
unfortunately for the 99.9% who fail or are only marginally successful as retail traders (a statistic I think is accurate, BTW), it is NECESSARY for them to fail in order for the .1% who succeed to be truly profitable. This is a part of what makes forex trading the perfect business. The challenge is in joining the .1%

The story of the suicide is very sad.

No one should trade with real funds until they have a clear understanding of what truly drives the forex market and why and how it moves. The shorter term moves (intraday) in currencies are all BASED in fundamental and news drivers, this is the honest truth that 100% technical traders refuse to accept, and learning how to follow and interpret fundamental and sentiment elements, and realize that "technical analysis" is of very limited contextual value (at least for day trading), is difficult but WORTH the effort.

Bottom line, I will sum it up in 3 "commandments":

1) NEVER trade with live funds until you KNOW that you utilize a method that has a *long term positive expectancy*, without this you have nothing. You can continue to learn and trade demos, but do not risk real money. Learn the truth about how and why and when and how much currencies move and change in relational value.

2) realize that risk control, money management, and psychology are vital components of trading, and treat it as a serious business, not a hobby

3) when you are researching and learning how to construct your OWN spin on any particular method to use in retail forex trading, dont waste your time or money trying to learn ANYTHING from someone who cannot verify for you the accuracy of what they are trying to show you. If they dont have verifiable trade reports, TE, myfxbook fully verified, FXBlue, or some similar accounting of their own trading that you can perform due diligence on, dont waste your time or attention (and certainly not your money). It doesnt have to be 3 years of audited statements, but it has to be at least a month or 2 with enough trade detail to analyze the trading and match it up with what they are trying to teach as a method. There must be no "red flag" behaviors.
forexfusiondotcom
  • #24
  • Edited May 17, 2016 2:53am May 16, 2016 12:01pm | Edited May 17, 2016 2:53am
Quoting odysseus11
unfortunately for the 99.9% who fail or are only marginally successful as retail traders (a statistic I think is accurate, BTW), it is NECESSARY for them to fail in order for the .1% who succeed to be truly profitable. This is a part of what makes forex trading the perfect business. The challenge is in joining the .1% The story of the suicide is very sad. No one should trade with real funds until they have a clear understanding of what truly drives the forex market and why and how it moves. The shorter term moves (intraday) in currencies are all...
You are right, however, in some cases trading may become a real gambling addiction after which no rational arguments will work.

And trading - for most people - is really just gambling.
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  • #25
  • May 16, 2016 9:25pm May 16, 2016 9:25pm
For the point #1: Demo trading is very different from real trading. I believe we should trade a SMALL live account to get real sense about the markets. Don't go big until a system with long-term positive expectancy is built.

Absolutely agree with your point #2. Trading is super tough and must be considered a real business.

Quoting odysseus11
Bottom line, I will sum it up in 3 "commandments": 1) NEVER trade with live funds until you KNOW that you utilize a method that has a *long term positive expectancy*, without this you have nothing. You can continue to learn and trade demos, but do not risk real money. Learn the truth about how and why and when and how much currencies move and change in relational value. 2) realize that risk control, money management, and psychology are vital components of trading, and treat it as a serious business, not a hobby 3) when you are researching and learning...
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  • #26
  • May 17, 2016 3:00am May 17, 2016 3:00am
And interesting insight about the CHANCES of "becoming rich" by trading Forex: http://www.forexfactory.com/showthread.php?p=8929880#post8929880
  • #27
  • May 17, 2016 11:24am May 17, 2016 11:24am
Quoting MasterGuru
And interesting insight about the CHANCES of "becoming rich" by trading Forex: http://www.forexfactory.com/showthread.php?p=8929880#post8929880 (http://www.forexfactory.com/showthread.php?p=8929880#post8929880)
"Forex has no future other than providing a gambling environment for entertainment"

Priceless

Forex should only be allowed to be practiced in certain well regulated environments like the way it is in brothels for example ...
  • #28
  • May 17, 2016 12:08pm May 17, 2016 12:08pm
Quoting Mingary
{quote} "Forex has no future other than providing a gambling environment for entertainment" Priceless Forex should only be allowed to be practiced in certain well regulated environments like the way it is in brothels for example ...

Good example!
  • #29
  • May 17, 2016 8:02pm May 17, 2016 8:02pm
Quoting Rtm
{quote} haha so true, doesn't matter much if you are fat ugly or old. If you have the resources, there is a hot woman that will want your meat!
Natural tendency of the mankind: Men love (women's) beauty, women love (men's) talent.
How does she know that a man is talented enough to take care of her life? Look at his achievements
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  • #30
  • May 17, 2016 8:07pm May 17, 2016 8:07pm
Forex is a serious business.

If a trader doesn't have any confidence in trading, if he doesn't believe in himself and this business... Then he should quit trading, immediately and permanently.
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  • #31
  • Last Post: May 19, 2016 4:28am May 19, 2016 4:28am
The financial markets generally are unpredictable. So that one has to have different scenarios.
– George Soros

http://inspire.ninza.co/financial-markets-are-unpredictable

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