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Forex as a Future?

  • #281
  • May 18, 2016 10:47am May 18, 2016 10:47am
Quoting skyway
Many have come along to say this's not possible, that's not possible. That's a rookie dreamer, chasing holy grail and many other restrictive impossibilities. I say you are limited only by the grey cells between your ears, your passion, your diligence, and your honesty in attaining your goal. This business venture requires primarily a great brain to achieve the impossible. If you're endowed with one great brain then what's impossible to others is possible to you. It may be impossible and seem foolish to them but not you. What's great to another is...
thats a good post.
we humans have different potentialities
i would never jump 2.45m even if I trained my whole life. Like if you have iq=85 , I would say it is pretty much impossible to become master of the market. It cannot be forced on the individual. You either have the genetic predisposition or you don't. But even if you have it, ahead there are decades of development towards the maximum potential ( if you ever reach that ).
So it is not very wise to constantly compare with others. But it is good to be realistic and have a general view on your own capabilities.
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  • #282
  • May 18, 2016 10:48am May 18, 2016 10:48am
Quoting alexx90
Not everyone can be a successful trader. Not everyone can be as fast as Usain Bolt, as good at MotoGP as Valentino Rossi, as good at F1 as Michael Schumacher, as good at tennis as Roger Federer, as good at basketball as Michael Jordan, and I can go forever. Each one of us is meant to be ...... each one of us has a destiny. You can work as hard as you can but you need talent, luck, passion etc. When you see a successful person at trading, basketball, football, tennis etc you see the result. I can guarantee you that person before becoming a success...
"Men Who Can Both Be Right & Sit Tight Are Uncommon" ~ Jesse Livermore
  • #283
  • May 18, 2016 11:24am May 18, 2016 11:24am
Quoting Dr.Phoenix
{quote} Try to explain it to others and you will find it very difficult. Best D.P.
Most dont realize the time it takes
Learn, a forex trader must, unlearn and relearn he will.
  • #284
  • May 18, 2016 12:07pm May 18, 2016 12:07pm
Quoting triphop
{quote} Hud, I'll tell you a true story. A relative of mine was well into her 30s but hadn't ever left home. Her parents loved her and everything but they were getting exasperated, wanting a bit of space to themselves in their retirement. They had a word with her, and she reluctantly left and found the first job she came across. Her parents were pleased for a time, but less than a year later, she came back with her tail between her legs, dejected, having found it soulless. So they sat her down again and told her, look, do something that means something...

Truly story...

Best
D.P.
Hunting High and Low
  • #285
  • May 18, 2016 4:10pm May 18, 2016 4:10pm
Because of the sensitivity of this topic, I had no doubt, it would be met with opposition. This thread has become very informative , with all the different opinions and is very eye opening.
Since there's a lot of stats being thrown around, I thought I would put together some of my own statistics relating to this thread only, as to " which active traders are still posting".. These are not meant to be 100% accurate, but just for a general idea.

Assuming that all active traders in this thread, have been trading since the date of their FF membership date ( which could be wrong also)...but for the sake of argument lets say its correct...I put this together.

TOTAL OF 72 different posters in this thread.

75% of active traders, have been doing so within the last 5 years.
25% of active traders, have been doing so within the last 10 years.
Of that 25%, only four traders have been a member since near the launch of FF. Two in 2006 and two in 2005.
Out of those four traders, only one appears to have a good knowledge of the Retail Forex Industry, and mostly shares the same views as HudithePfupf..Post #202.

If you took the time to create these same stats on a larger scale, and included the entire FF membership, I'm sure the results would be roughly the same, where just a very small % of active traders, and still posting here, have been here since the launch of FF.

In my opinion, the very small percentage of Veteran Active Traders( non system sellers) who still post, ( meaning the ones who have been here since 2004) are here because they love trading, love interacting, and possibly are showing some overall profit..( which has been very debatable here for years).
So with this in mind, my decision not to trade anymore was the correct move for me.

Other than occasionally checking in to catch up on the gossip, and stir the pot!!..I wont be posting as much anymore.
But you have to admit...it does engage a lot of opinions...good or bad...and does provide some good informative posts>!


I also wish each and everyone of you, the best in trading, and hope that this thread continues to shed some light on the Retail Forex Industry.


SO>>>WHERE ARE ALL THE PROFITABLE TRADERS ??....They've all hooked up with the " SnakeOil Salesmen Club"...and wont come here on FF because of all the noise that would interfere with their profitable methods...Lol..
  • #286
  • May 18, 2016 6:38pm May 18, 2016 6:38pm
Quoting GibsonL6
In my opinion, the very small percentage of Veteran Active Traders( non system sellers) who still post, ( meaning the ones who have been here since 2004) are here because they love trading, love interacting, and possibly are showing some overall profit..( which has been very debatable here for years). So with this in mind, my decision not to trade anymore was the correct move for me.
Yes but your opinion only has the qualification of a loser.

It appears you like to study everything else but why you are personally failing. Pulling stats out of hats is not going to help you at all. I can post stats too but then you would scream PHOTOSHOP!!! so what's the point. Even if I gave you the link to an account showing 100% success for 155 trades in a row, you wouldn't believe it.

It would be far better if you demonstrated why you lose so other could learn from such personal experience and not make the same mistakes.

What on Earth makes you think being a member of FF is a requirement for becoming a trader of any description.

As for having knowledge of the retail industry, what has that got to do with the price of eggs. One can have a great deal of knowledge in any industry but it doesn't make them a tinker, sailor or toilet paper maker. You need to get out more, you are spending far too much of your valuable life in this forum.

Still you have provided a lot of amusement with this thread, thanks for that.
  • #287
  • May 19, 2016 2:50pm May 19, 2016 2:50pm
Quoting HudithePfupf
My guess is these pockets of non randomness do exist, but the forces creating them are always ahead of a retail trader. Even the smartest retail trader needs some price action to identify such manipulations and extract a small profit out of it, always carrying a big risk being late and getting screwed. You are always behind the ones initiating these manipulations, always!
But some moves (e.g. those caused by macroeconomic drift) last long enough to give the retailer a chance to profit.

Anyway, thanks for your comprehensive reply. Here is some more info (albeit 16 months old) that might interest you.
[EDIT] oops, just read your post #262, looks like you've already seen it
  • #288
  • Edited 7:27am May 20, 2016 4:37am | Edited 7:27am
Quoting hanover
{quote} But some moves (e.g. those caused by macroeconomic drift) last long enough to give the retailer a chance to profit. Anyway, thanks for your comprehensive reply. Here is some more info (albeit 16 months old) that might interest you. [EDIT] oops, just read your post #262, looks like you've already seen it
The most shocking thing about this is this
"In the four years combined, a total of 13,224 customers experienced aggregate losses of nearly $220 million (175 million), with the remaining 1,575 customers earning a combined $17.51 million (13.8 million)."

So much for a zero sum game - the winners end up holding just 10% of the losers losses.

Adam Grimes suggests that it would take the average self-directed trader 4 years of study to become a competent trader - this is similar to the time it might take to gain an engineering or medical degree. Mastery in those fields would take longer with an extended period of 'on the job' training following formal education. I can't remember his definition of competent but I think he suggests competent traders should be able to match and possibly beat suitable benchmarks - so a competent equities trader should be able to beat the index. He also suggests that few of those who embark on the journey will get that far. So I'd be very interested to see a follow up study tracking those who were profitable at the end of the original study.
  • #289
  • May 20, 2016 7:19am May 20, 2016 7:19am
Quoting bartlby37
{quote} The most shocking thing about this is this "In the four years combined, a total of 13,224 customers experienced aggregate losses of nearly $220 million (175 million), with the remaining 1,575 customers earning a combined $17.51 million (13.8 million)." So much for a zero sum game - the winners end up holding just 10% of the losers losses. Adam Grimes suggests that it would take the average self-directed trader 4 years of study to become a competent trader - this is similar to the time it might take to gain an engineering or medical degree....
Completely agree with the last paragraph. Everyone in my trading group, before being considered for membership, has already put in the long years of preparation and hard work. Everyone has an advanced degree in a relevant area of study; then years of on the job training in some aspect of international finance, banking or investment; then years of actual experience in trading (bonds, equities, commodities), investing and or finance. Everyone brings a history of hard work, attention to detail, appreciation of study and knowledge, and personal maturity to the job of trading.

Most people have not put in the required work before starting their trading careers, have not put in the required work to learn trading, and don't work hard enough as a trader, to be successful.
  • #290
  • May 25, 2016 1:27pm May 25, 2016 1:27pm
Quoting alexx90
Not everyone can be a successful trader.....
Your absolutly right. One day you will get the full picture that 99.99% can't be successful forex traders in the long run. But hey, don't give up...just blowing one account doesn't makes you a sportsman, keep it going man! You'll sure make it to 5 accounts or more ... and don't forget, skill matters, so hone your skills by burning more and more money. It's your decision and that's fine with me, as long as you don't promote misleading expecations for your paymaster you are not able to support with just one little piece of evidence.....

Too bad even your idols lose their insider and front running edge as markets become more efficient and regulated.

http://gawker.com/hedge-fund-guy-ann...-wi-1778651907

But keep on dreaming Alex......till fairytale gone bad.
  • #291
  • May 25, 2016 1:46pm May 25, 2016 1:46pm
Quoting triphop
{quote} Hud, I'll tell you a true story. A relative of mine.....
As a snake oil salesman you do not lack the experience in telling fairytales.....well done.
Why not switching profession and become the new "Trudi Gerster".
  • #292
  • May 26, 2016 3:48pm May 26, 2016 3:48pm
The thing which i believe and also have experience against the trader is play against market...
Trade fearless not careless...
Syed Mohsin Ali Profit This Month: -2,370
  • #293
  • May 27, 2016 11:10am May 27, 2016 11:10am
Quoting HudithePfupf
{quote} As a snake oil salesman you do not lack the experience in telling fairytales.....well done. Why not switching profession and become the new "Trudi Gerster".
Interesting. Given that I don't sell a thing to the retail world (never have, never will), you must know something I don't. Please share.

And look, I wasn't trying to make you feel small but I've been doing this for around 10 years, several full time. The success rate figures which you've 'unearthed' I posted on this very same forum 8 YEARS AGO! It's between 1 in 1000 and 1 in 2000, and the first thing any of us did who take this seriously is look at the reality of full time trading.

Those were and still are the odds; if you don't like them, jog on, otherwise knuckle down and do some work.

To those still looking; FF is full of misinformation, almost all of it unintentional. But there is gold - people who've gone out their way to sow seeds, people who've thought long and hard about how to pass on information to those prepared to put the effort in. I'm indebted to all of them, they are actually the true unsung heroes of this place. When, or if you do get to speak to them, just make sure you ask a sensible question

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Good luck all
  • #294
  • May 30, 2016 10:12am May 30, 2016 10:12am
http://http://www.lexology.com/libra...d-82a4d35c027e

http://http://financefeeds.com/no-tr...-investigates/



A couple of interesting articles.
  • #295
  • May 30, 2016 11:55am May 30, 2016 11:55am
Quoting triphop
{quote} But there is gold - people who've gone out their way to sow seeds, people who've thought long and hard about how to pass on information to those prepared to put the effort in. I'm indebted to all of them, they are actually the true unsung heroes of this place. When, or if you do get to speak to them, just make sure you ask a sensible question https://www.youtube.com/watch?v=6bfKredivMU Good luck all
Do you have a list?
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #296
  • May 30, 2016 12:18pm May 30, 2016 12:18pm
Quoting TooSlow
{quote} Do you have a list?
now thats a sensible question
  • #297
  • Jun 24, 2016 7:03am Jun 24, 2016 7:03am
Brexit is reality.

Today, quite a few retail forex traders will learn it once again the hard way.........especially those trading with leverage in cfd's on stock indices and had open positions over night..... a 10% drop at reopening.....that's enough to wipe out a lot of accounts.

Waiting to see reactions from brokers...... did they lose again a lot of money and customers?

At least some of them learned the lesson from SNB and reduced max leverage for customers.
  • #298
  • Jun 24, 2016 10:44am Jun 24, 2016 10:44am
so who are the profitable traders here ?
  • #299
  • Jul 25, 2016 7:23am Jul 25, 2016 7:23am
http://www.forexfactory.com/news.php?do=news&id=600000

Again proof that retail forex and CFD customers are ripped off in an epic scale by the forex industry.... This industry has no future because there is no productive element in trading currencies and it is a negative sum game.
  • #300
  • Jul 25, 2016 9:25am Jul 25, 2016 9:25am
https://www.leaprate.com/2014/08/fxc...s-4-4-million/

Each retail forex customer that I convince about the forex and CFD fraud by forex brokers costs this industry currently about 712 USD (this is about 20% of the average account balance of forex customers).

This gives insights into this industry. They are targeting the retail forex suckers with significant gambling addiction just able to play with a 3500 USD account and rip them off till they have nothing left.... no problem, they are all overleveraged. And no wonder none of them sue the forex brokers....they obviously don't have the money to do it.... that is certainly part of a forex brokers business model concerning small account customers......

It is interesting that FXDD and IRON FX are on the way to a merger....... Probably IRON FX is aware that they have completly ruined their brand. If they really list on the Nasdaq, I will short them to zero....

Start thinking - stop gambling!
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