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If you haven't made it yet, what makes you think you will?

  • #21
  • Jun 8, 2016 10:42pm Jun 8, 2016 10:42pm
Quoting gravitist
Unfortunately, the vast majority of people at FF will never make it. They will blow account after account, try system after system. Some are just compulsive gamblers - they trade forex because it's so accessible, and thus satisfies their gambling addiction. Some are just naive, not realizing that fx is the most rigged market on earth - less than 10 big banks control about 77% of the market and small retail traders have zero access to any order flow data. Those traders might do better with futures than fx, but they'll probably lose there too. I came...

Let me ask you something ...How many times did you attempt to succeed at this game ?
By attempt i mean ...forming your own hypothesis and testing your strategy on law of large number ...by any means by backtesting or live trading.

Here is a very nice story....
http://theunboundedspirit.com/short-...-and-the-rope/
Moral of the story is people who failed are chained to their beliefs , that it can not be done.

Countless examples are there of peoples who have achieved success at this game. Which is enough for me to keep on going and not give up.

Here is the secret to success.

Form hypothesis -> test -> fail -> learned something ...new hypothesis -> test -> fail.....repeat until you succeed . Simple isn't it. This is not about having very high IQ or being academics . Its about having open mindedness and going through failures to failures without giving up.
As to the question than why most people fails...because they dont want to go through the pain of having failed again and again ....and it becomes more unbearable as you fail more and more .

In the game of imperfect information ...as is life, you can never be sure that you have made it but when you see evidence of your results day by day , you wonder that belief you currently hold makes more sense, irrespective of how few people or no one for that matter share that belief.

Simple science of deduction. Question is are you up for it. ?

"Stay calm and keep testing your hypothesis " -- Anonymous
  • #22
  • Jun 9, 2016 12:16am Jun 9, 2016 12:16am
Quoting dkrock
{quote} The problem is traders cannot have serious conversations with spectators, and spectators have no idea whom to trust. Vicious circle.
Wisdom. Pure. Wisdom. Hat tips to you dkrock.
"Holy Grail" exists - accepting where is the first step.
  • #23
  • Jun 9, 2016 12:26am Jun 9, 2016 12:26am
The problem is the longer you trade , the more likely you will become a spectator - because you will lose your money. You may get lucky a few times, and mistake that luck for skill, but the odds will always catch up with you. That's how casinos ( and forex brokers ) make fortunes.

There, now you have even purer wisdom. Now, whether or not you realize you've been deluding yourself will depend on your level of wisdom.
  • #24
  • Jun 9, 2016 12:30am Jun 9, 2016 12:30am
Quoting gravitist
The problem is the longer you trade , the more likely you will become a spectator - because you will lose your money. You may get lucky a few times, and mistake luck for skill, but the odds will always catch up with you. That's how casinos ( and forex brokers ) make fortunes.
Forex brokers make money because they get a cut of your trade, win or lose. A decent broker wants you to win because they make more money because you will increase position size and trade more.
If you are good at something, never do it for free--Joker
  • #25
  • Jun 9, 2016 12:48am Jun 9, 2016 12:48am
Quoting gravitist
The problem is the longer you trade , the more likely you will become a spectator - because you will lose your money. You may get lucky a few times, and mistake that luck for skill, but the odds will always catch up with you. That's how casinos ( and forex brokers ) make fortunes. There, now you have even purer wisdom. Now, whether or not you realize you've been deluding yourself will depend on your level of wisdom.


Would you just go play in traffic on a high speed interstate and take Mingray with you?



Or...maybe just find a pink room loaded with flowers and plenty of tissues to contain your needless whining?

"Holy Grail" exists - accepting where is the first step.
  • #26
  • Jun 9, 2016 12:51am Jun 9, 2016 12:51am
Quoting VaBikePacker
{quote} Would you just go play in traffic on a high speed interstate and take Mingray with you? Or...maybe just find a pink room loaded with flowers and plenty of tissues to contain your needless whining?
Odd birds, those two.

But Ming is still trying to trade. So I think they are projecting their frustration.
If you are good at something, never do it for free--Joker
  • #27
  • Jun 9, 2016 12:53am Jun 9, 2016 12:53am
Quoting VaBikePacker
{quote} Would you just go play in traffic on a high speed interstate and take Mingray with you? Or...maybe just find a pink room loaded with flowers and plenty of tissues to contain your needless whining?
Ever wondered all those whiners have never at least tried to back up their claim with any kind of scientific data. Only if they were capable of doing any kind of research in first place........
Quote
  • #28
  • Jun 9, 2016 12:56am Jun 9, 2016 12:56am
Quoting jmn5611
{quote} Odd birds, those two. But Ming is still trying to trade. So I think they are projecting their frustration.
heh...thanks JMN - "frustration" isn't exactly what came to mind...lol
"Holy Grail" exists - accepting where is the first step.
  • #29
  • Jun 9, 2016 12:58am Jun 9, 2016 12:58am
Quoting ronaleo10
{quote} Ever wondered all those whiners have never at least tried to back up their claim with any kind of scientific data. Only if they were capable of doing any kind of research in first place........{quote}
didn't even have to waste a nano second on that...
"Holy Grail" exists - accepting where is the first step.
  • #30
  • Edited 10:02am Jun 9, 2016 1:23am | Edited 10:02am
Quoting cat
This may seem like a pretty inane question, but I think it might provide some interesting answers which could be useful for one or two people. And don't be afraid of admitting that you're still struggling to master this business, because most of us are. By made it, I mean the ability to support yourself and perhaps your family from trading alone. As an afterthought, let's explore the other side of the coin as well. If you have made it, how did you do it when so many never do?
What kept me going ?

1) Seeing other traders stats, someone out there showing positive results after experiencing any market condition (eg. after he opened 200 positions) .

2) Knowing that any business involves uncertainty and risk and that trading is IMO the least risky: I don't need a qualification, I don't need an office, I don't need to put all of my time and effort like I would do with any other entrepreneur business, etc.


I have always been realistic with my expectations, only after 5 years I made my first "big" deposit (about 5k). I did well for some weeks (using max 1:20 leverage), then my reckless nature showed itself and Bye Bye account.
After that dramatic event I took a long break, during which I have been learning MQL, spotting the flaws of my system, finding new ones and putting everything into automatic, so that I could say goodbye to recklessness.


My best automated system showed an average return of 70% pa with proper MM but, right now I'm too under-capitalized to make a decent income out of that return, so what I'm doing, I'm leveraging like crazy with a $200 account, in the hope of growing that account to 5k... then finally switch to conservative mode. I'm not very optimistic about that but hey I can afford to lose $200 once in a while
  • #31
  • Jun 9, 2016 1:36am Jun 9, 2016 1:36am
Quoting gravitist
. Some are just naive, not realizing that fx is the most rigged market on earth ...... I came to realize that I'll never make it ..... That is why I still post here - to tell people they're wasting their time with forex. So, to anyone reading this - forex is ruining your life - you are chasing a fantasy. For the sake of your bank account, your family, your marriage, yourself - PLEASE stop trading forex. It is destroying you. I can't make it any plainer than that.


Only you out there know if this is you. For some people it most definitely is, and they should either stop trading immediately or just take a break, because nothing is worth ruining your life for. I always get the ' forex is rigged...no one can win ' poster on all the threads I start, but of course these are always from people who have failed to make it and seek some kind of justification for this failure, and it makes them feel a lot better if they can convince themselves and a few others if they can, that they failed because everybody else does.

I would say that the majority of those who fail come into forex with the wrong expectations, expecting too much too soon, and it is easy isn't it - no one to tell you what you should and shouldn't do, no boss, no exams to sit, just open an account and off you go. What someone should have told them is that trading is one of the most difficult skills in the world to master on so many levels...you'd have been better off learning to play the piano or learning 5 languages at the same time if you wanted to become proficient at something within a few short years...trading is way more difficult than that, but, like all cognitive skills, the human brain can easily work it out, it just takes time.

And no, it is not rigged...stick with it long enough, work night and day for many years, do all the homework and never flinch in your desire to succeed, and anyone will find this out to be true for themselves.
  • #32
  • Jun 9, 2016 1:46am Jun 9, 2016 1:46am
If any one can do i also can do......
To do this ego must be completely out ...
Be a mathematician.......
Cheers...
Trade fearless not careless...
Syed Mohsin Ali Profit This Month: -803
  • #33
  • Jun 9, 2016 1:47am Jun 9, 2016 1:47am
This question may have multiple answers. I like to see what excuses, other than self discipline, people can conjure up?
Ecclesiastes 1:9
  • #34
  • Jun 9, 2016 2:12am Jun 9, 2016 2:12am
It is no harder than trying to be an expert in any profession. More than 80% of start-up companies fail in the first two years, the rest is barely getting by and only a handful of them are actually making money. How many people are training extremely hard to become professional NFL or NBA or whatever athletes, and how many of them actually get a contract with a team?

It does not matter which profession you choose, to be among the top 5%, you will need to work extremely hard. Trading is difficult IMO, because you have to bear the external pressure from your family and friends, especially if you are not doing good (losing money). To march on in a situation like that with nothing but a vision and rock solid confidence under your belt is pretty hard. After all, all they see is you sitting in front of a computer all day, staring at lines and losing money.

Unless you want a 9 to 5 job for the rest of your life (nothing wrong with that), you have to take risks. You are risking your time & energy & money to create a life you don't need vacation from.
Invincibility lies in the defence; the possibility of victory in the attack
  • #35
  • Jun 9, 2016 2:16am Jun 9, 2016 2:16am
I know first hand how ruthless trading forex can be.... In the last couple of years of trading i have blown account after account, from small $100 to big $20,000.

But in the midst of all this I've had some successful runs, which brings me to the thought that it's never about the size of your account - I thought so to as advertised, but, if you cant steadily grow a $100 forget ever growing huge account of 10k or 100k or 1M, you will eventually drive them all to the ground.

After loosing each of my accounts i tried to learn why i did, and often did what i needed to do then i would see success - but then again it was short lived cause I've been so big-headed to ever think that rules are there to be broken. Beware, i have a strategy that i believe gives me a good success rate - once after loosing a $10k account i decided to follow my system and the rules of entry and exit - faithfully following them i grew a $150 to $2200 in 2 months - and ofcourse i blew it all in one day....lol.

so, what makes me think i will ever make it? I have this faith in my self that i can turn around. I so damn well know first hand that trading is a business, not gambling, or hopeful venture - its a probability zero-sum game that rewards those who respect it and money. I've given this monster a lot of my money and time that i am a little proud to accept defeat to it. I've stupidly given money to the monster - yes stupidly - because you may never believe the stupid things i do when i loose money.

I believe I will make it because I know I can, the sooner I ingrain in my head the discipline i need to adhere to my system the sooner I will see success.
Stop fighting, let it go......you will be surprised..
  • #36
  • Jun 9, 2016 2:29am Jun 9, 2016 2:29am
Quoting BBalazs
It is no harder than trying to be an expert in any profession. More than 80% of start-up companies fail in the first two years, the rest is barely getting by and only a handful of them are actually making money. How many people are training extremely hard to become professional NFL or NBA or whatever athletes, and how many of them actually get a contract with a team? It does not matter which profession you choose, to be among the top 5%, you will need to work extremely hard. Trading is difficult IMO, because you have to bear the external pressure...
A quick note on family and friends. If they are not for you, they are against you. Get rid of all of them who do not support you. Believe me, they will come back if you are clearly successful, as if nothing ever happened.
If you are good at something, never do it for free--Joker
  • #37
  • Jun 9, 2016 2:45am Jun 9, 2016 2:45am
Quoting jmn5611
{quote} A quick note on family and friends. If they are not for you, they are against you. Get rid of all of them who do not support you. Believe me, they will come back if you are clearly successful, as if nothing ever happened.
Makes sense, although getting rid of the family is a little bit harsh IMO. Most of them are mean well, they just don't understand the amount of work you put in.
Invincibility lies in the defence; the possibility of victory in the attack
  • #38
  • Jun 9, 2016 3:46am Jun 9, 2016 3:46am
Make it ? I don't think i will make it to a point that i quit trading.

Since i was little i always think that trading stocks is cool. Till this day i still think is cool and fun. My dream had come true.

Trading is just like a game that makes me happy when play it. ( After i started trading i stopped playing video games because i find it more satisfying and challenging )

However i'm still young so i don't have children and wife , I just trade for myself and doing what i love.
  • #39
  • Jun 9, 2016 3:48am Jun 9, 2016 3:48am
Quoting Erebus
Because if Niall can do it, anyone can do it http://www.learntotradethemarket.com...ng-competition
How the hell did he won that? Must be another one of his scams..that guy has no verified track record no where to be seen, and yet claims to be "trading authority" lol
  • #40
  • Jun 9, 2016 3:55am Jun 9, 2016 3:55am
You should be smart enough to realize if a tool works or not, within the first hours of being at it. If the tool works and you're smart enough to process that, then it's really up to that broken record shit of 'it's 99% psychology' you hear around, because it really is that simple.

When you see a UJ run of 500 pips in one month and you are afraid of the round numbers, fibonnaccis, blind monkeys darts and the brown nuance of your shit stopping you, then it's time for a career change.

One poster was talking about being against the banks, etc. Not the case. As long as there is decent volatility, you can trade scrambled eggs vs hard boiled eggs. It's your choice if you will be against them or not.

And no, the tier 1 banks do not need anyone's sorry ass 7/11 dollars. They get unlimited amounts of freshly printed toilet paper straight outta Compton at - believe it or not - near zero costs.

I know I will make it because:
A) I know what works - we all know;
B) I will make it work for me;
Best regards, Zef
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