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Forex as a Future?

  • #181
  • May 16, 2016 11:49am May 16, 2016 11:49am
Quoting HeyYou
{quote} Well I'm still not making money simply because I don't have enough money to invest. All I can do right now is gambling with $200 just as a habit, not even a hobby. If I had invested as little as 3k and aimed at 5% month I would be profitable right now, I know I say I would but it's a matter of fact.
In theory you can make a living with $200. Just double your account every month and after 1 year you will have close to $1 mil. Yes, I know is sound impossible, but it can be done.

Unfortunately It requires a great deal of dedication and skills. And most of all - absolute mastery of your own mind!

How many people can stick to the same routine every day without quitting even when things get rough and hard? Very very few! 99% of traders will quit after a few weeks. They just lose the account or the constantly growing boredom distracts them too much.

But other then that, the math is very simple!
Get your $200
Use 30:1 leverage.
Make on average net profit 75 pips per week, (Only 15 pips daily average!)
And in only one year you will have financial freedom.

But your brain will not let you do this! NO! You WILL sabotage yourself.

There's this strange phenomenon in trading. As soon as you begin to accumulate profits, and your account begins to grow exponentially, something "clicks" in you brain and a chain reaction begins. The emotions begin to interfere too much, and suddenly your equity curve gets very unstable. This is where 99,9% of traders will crash!
It happened to me many times is the past, and Im sure it happend to most traders.

That's why it is recommended to trade with low risk. Because the emotions are less intense. But most people also cannot stick to low risk profitability. As soon as they see the smooth rising equity curve, they begin to think, "hey, if I can make money with this risk, I can make 10 times more if I encrease the Lot size x10". And here we go the previous problem.....it is almost inescapable situation. The magic circle of psychology....
  • #182
  • May 16, 2016 11:55am May 16, 2016 11:55am
Quoting HeyYou
{quote} Well I'm still not making money simply because I don't have enough money to invest. All I can do right now is gambling with $200 just as a habit, not even a hobby. If I had invested as little as 3k and aimed at 5% month I would be profitable right now, I know I say I would but it's a matter of fact.
@HeyYou

Executing your plan on a $3k demo would be a good start.

Should you be able to do it - even on a demo account - for at least 6 months and without major DD (i.e. less than 2x of the average monthly profit) and assuming it was not a MartiGrid strategy, I am sure someone would finance a real account for you with a profit share arrangement... And that someone might happen to be even me...
  • #183
  • May 16, 2016 12:04pm May 16, 2016 12:04pm
Quoting alphaomega
{quote} In theory you can make a living with $200. Just double your account every month and after 1 year you will have close to $1 mil. Yes, I know is sound impossible, but it can be done. Unfortunately It requires a great deal of dedication and skills. And most of all - absolute mastery of your own mind! How many people can stick to the same routine every day without quitting even when things get rough and hard? Very very few! 99% of traders will quit after a few weeks. They just lose the account or the constantly growing boredom distracts...
An excellent post, AlphaOmega, should be taken as a reminder.

Best
D.P.
Hunting High and Low
  • #184
  • May 16, 2016 12:15pm May 16, 2016 12:15pm
Quoting HeyYou
{quote} Well I'm still not making money simply because I don't have enough money to invest. All I can do right now is gambling with $200 just as a habit, not even a hobby. If I had invested as little as 3k and aimed at 5% month I would be profitable right now, I know I say I would but it's a matter of fact.
Good luck, and may then force $$$ be with you.
  • #185
  • May 16, 2016 12:20pm May 16, 2016 12:20pm
Quoting hanover
{quote} All good thank you sir. It seems that a lot gets misunderstood on trading forums. That's one reason why I don't take them as seriously as I once did. Another is because the word 'lose' is so frequently misspelled. LOL. I would rather focus on my own trading than get involved in heated debates. Anyway, good trading to you. David @tunera, @skyway: Thanks for your replies also. _______________________ {quote}Probably won't change your mind, but IMHO this post...

You're right, it wont change my opinion, but thanks anyway.
  • #186
  • May 16, 2016 12:29pm May 16, 2016 12:29pm
Quoting hanover
{quote} All good thank you sir. It seems that a lot gets misunderstood on trading forums. That's one reason why I don't take them as seriously as I once did. Another is because the word 'lose' is so frequently misspelled. LOL. I would rather focus on my own trading than get involved in heated debates. Anyway, good trading to you. David @tunera, @skyway: Thanks for your replies also. _______________________ {quote}Probably won't change your mind, but IMHO this post...
thanks for your posts too pal, nice stuff.

  • #187
  • May 16, 2016 12:31pm May 16, 2016 12:31pm
Quoting alphaomega
{quote} ..........
"In theory you can make a living with $200. Just double your account every month and after 1 year you will have close to $1 mil. Yes, I know is sound impossible, but it can be done"

"How many people can stick to the same routine every day without quitting even when things get rough and hard? Very very few! 99% of traders will quit after a few weeks. They just lose the account or the constantly growing boredom distracts them too much"

"As soon as they see the smooth rising equity curve, they begin to think, "hey, if I can make money with this risk, I can make 10 times more if I encrease the Lot size x10". And here we go the previous problem.....it is almost inescapable situation. The magic circle of psychology...."


LOL
Very true
I call that greed

PS: sorry the colors
  • #188
  • Edited May 17, 2016 4:56am May 16, 2016 1:44pm | Edited May 17, 2016 4:56am
Quoting MasterGuru
{quote} @HeyYou Executing your plan on a $3k demo would be a good start. Should you be able to do it - even on a demo account - for at least 6 months and without major DD (i.e. less than 2x of the average monthly profit) and assuming it was not a MartiGrid strategy, I am sure someone would finance a real account for you with a profit share arrangement... And that someone might happen to be even me...



Thanks man, I thought about that ! but, besides that I would have to move away from my country to manage accounts legally, my strategy is fully automated so one can easily guess it, then he/she will pay a programmer to replicate it... hell no.
  • #189
  • May 16, 2016 2:00pm May 16, 2016 2:00pm
Quoting alphaomega
{quote} There's this strange phenomenon in trading. As soon as you begin to accumulate profits, and your account begins to grow exponentially, something "clicks" in you brain and a chain reaction begins. The emotions begin to interfere too much, and suddenly your equity curve gets very unstable. This is where 99,9% of traders will crash! It happened to me many times is the past, and Im sure it happend to most traders.
im glad that i found one here on ff.com that reached that stage.
i reached it few years ago, and since then i had only problems, and i got stuck there since..

very few people reach that stage, and so far i havent seen one that manage to overcome it
  • #190
  • May 16, 2016 2:15pm May 16, 2016 2:15pm
Quoting bradu
{quote} im glad that i found one here on ff.com that reached that stage. i reached it few years ago, and since then i had only problems, and i got stuck there since.. very few people reach that stage, and so far i havent seen one that manage to overcome it
i think a good way to overcome it is watch out for mental clarity.

eat healtly and constantly
shut down distractions
stay focused
meditate
stop addictions (if any)
cut off bad relationships

just look for achieve mental clarity, once you have it, you can overcome the self-sabotaging mechanism.
  • #191
  • May 16, 2016 2:58pm May 16, 2016 2:58pm
Quoting alphaomega
{quote} In theory you can make a living with $200. Just double your account every month and after 1 year you will have close to $1 mil. Yes, I know is sound impossible, but it can be done. Unfortunately It requires a great deal of dedication and skills. And most of all - absolute mastery of your own mind! How many people can stick to the same routine every day without quitting even when things get rough and hard? Very very few! 99% of traders will quit after a few weeks. They just lose the account or the constantly growing boredom distracts...
Hi alphaomega
$200 means to me $409600 in 12 month. But anyway it is quite hard to double the account after month 10.
But the hardest factor seems to be a strategy which makes for sure only 3 times 5 pips a day without big swings against the opened position.
Does anybody have a strategy for this 15 pips a day?
  • #192
  • May 16, 2016 3:26pm May 16, 2016 3:26pm
Quoting kofix11
{quote} Hi alphaomega $200 means to me $409600 in 12 month. But anyway it is quite hard to double the account after month 10. But the hardest factor seems to be a strategy which makes for sure only 3 times 5 pips a day without big swings against the opened position. Does anybody have a strategy for this 15 pips a day?
Hilarious
  • #193
  • May 16, 2016 3:59pm May 16, 2016 3:59pm
Quoting hanover
{quote} Another is because the word 'lose' is so frequently misspelled.
Amen. This irks me to no end. I have to wonder....if people are either too dumb or too lazy to know the difference between "lose" and "loose", then how in the hell are they going to trade effectively or do ANYTHING effectively for that matter? To quote Trump...."What a bunch of loosers!!!"
There's always money in the banana stand.
  • #194
  • May 16, 2016 5:12pm May 16, 2016 5:12pm
Quoting alphaomega
{quote} In theory you can make a living with $200. Just double your account every month and after 1 year you will have close to $1 mil. . But your brain will not let you do this!....
http://www.tradeciety.com/why-your-m...losing-trader/
Have a nice day
  • #195
  • May 16, 2016 5:34pm May 16, 2016 5:34pm
Quoting Atokys
{quote} Thank you for sharing, Gibson. The two prominent themes in your post, and in the replies here, seem to be regarding: 1. The notion of 'consistent profitability'. 2. The notion that the trading game is impossible to beat. People seem to take sides here believing in 1. and not 2. or vice versa. I am here to offer my opinion on why the idea of 'consistent profitablility' is untenable but you can definitely put the odds in your favour to achieve profits over the long run. 1. The fallacy of the 'Consistently Profitable Trader'. Firstly, let me...
Actually my prominent theme is the words" Retail Forex"... Even though the odds are heavily stacked against you, this market continues to grow, simply because of smart marketing. Failure rates stats seem to range from 95% to 99.9%, but until there's absolute proof of even one veteran trader showing an overall profit in the long term, my belief stays at 100%.
That being said>>>>Why on earth would you want to expose yourself to that kind of risk, knowing full well there's a 95% to 99.9% chance, that the only thing at the end of the rainbow will be at best.....your empty pockets...and at worst....a ruined life. There's a reason why former director of the CFTC, Micheal Greenburger, tried to have it banned!
  • #196
  • Edited 10:51pm May 16, 2016 9:00pm | Edited 10:51pm
Quoting GibsonL6
{quote}.....That being said>>>>Why on earth would you want to expose yourself to that kind of risk, knowing full well there's a 95% to 99.9% chance, that the only thing at the end of the rainbow will be at best.....your empty pockets...and at worst....a ruined life. There's a reason why former director of the CFTC, Micheal Greenburger, tried to have it banned!
1. Greed - Lure of easy unlimited profits

2. Low barrier to entry - no paper qualification/specialised skill required, minimal capital

3. Free loan - Leverage

4. Hate - Hate boss/employee relationship, hate office politics

5. Lazy - Hate 9 to 5, hate commute, hate college/uni

6. Gambler - lotto

7. Desperate - need a quickie, jobless, midlife career crisis

8. Dreamer - Shangrila, holy grail, rags to riches

9. Money launderer

10. Entrepreneur - Warren Buffet, George Soros, .......

11. Copernicus, Jules Verne, ........
  • #197
  • May 16, 2016 9:26pm May 16, 2016 9:26pm
Quoting GibsonL6
{quote} Actually my prominent theme is the words" Retail Forex"... Even though the odds are heavily stacked against you, this market continues to grow, simply because of smart marketing. Failure rates stats seem to range from 95% to 99.9%, but until there's absolute proof of even one veteran trader showing an overall profit in the long term, my belief stays at 100%. That being said>>>>Why on earth would you want to expose yourself to that kind of risk, knowing full well there's a 95% to 99.9% chance, that the only thing at the end of the rainbow...
95 to 99%? thats only speculation
http://www.financemagnates.com/forex...accounts-down/
20 Pips a day keeps centerlink away
  • #198
  • May 16, 2016 10:57pm May 16, 2016 10:57pm
only four years and you say "ｇｉｖｅ　ｕｐ“

What should i do as a loser for 5 years?

Do u feel play in this market is the most exciting game you have ever played in your life time?

if not, go away is your best choice.
No one wants to be defeated~
  • #199
  • May 16, 2016 11:21pm May 16, 2016 11:21pm
Forex and trading will always be one of the hardest things to do no matter what. I think however that the reason most people don't believe in success is that they never really find something that works FOR THEM, and not for anyone else. Once traders are succesful they seem to sway from these kinds of forums mostly because it really is hard to explain how you see the markets in a way that everyone else can see. I think if you really want to have a future in forex you need to examine yourself first before you even look at a system. If you are an impatient type like me, then long time frames probably won't suit you. After about a year or so of trying several systems, I believe I have found what works for my and my personality, and I promise you that once you find out what you are good at, and what works for you, then you will see promisong results

For me that was going down to small time frames instead of hourly. I realize that I love fast paced environments and do better in them than slow paced ones. Even though the advice is to usually avoid smaller time frames, I find it better to do what is suited for you and not necessarily better for the general population. .
  • #200
  • May 17, 2016 12:54am May 17, 2016 12:54am
Quoting skyway
11. Copernicus, Jules Verne, ........
You rang!!!


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