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Are there any successful Traders in Forex Factory?

  • #321
  • May 26, 2016 3:10pm May 26, 2016 3:10pm
Quoting Ramadas
36.2% of US forex traders were profitable in Q2 of 2015: http://www.financemagnates.com/forex...accounts-down/
I don't want to sound negative, but I suspect that the quarterly analysis reported by forexmagnates doesn't reflect long term profitability. This has been discussed many times before (e.g. I touched on it in the second part of my post here).
  • #322
  • May 26, 2016 9:06pm May 26, 2016 9:06pm
Quoting hanover
{quote} I don't want to sound negative, but I suspect that the quarterly analysis reported by forexmagnates doesn't reflect long term profitability. This has been discussed many times before (e.g. I touched on it in the second part of my post here).
Are you talking about those housewives who were talked down by some new broker to invest in S&P 500 or other index and still keep their investments? Well then this percent can rise to 60-70% from all US Population.
But if talking only about forex trading then percent will be much lower.
  • #323
  • May 26, 2016 9:24pm May 26, 2016 9:24pm
Quoting Ramadas
95% of small businesses fail within 5 years. I think with Forex there is more probability of success. http://smallbiztrends.com/2013/03/in...usinesses.html

I checked out your first link and was surprised to learn they are still using that statistic, although it's
slightly different from what I heard back in univ.: "90% of the businesses that fail in any given year are small businesses."

This is not as pessimistic as what your link says. I've heard it's a common misreading of what I wrote.

(​I'll have to check out your second link later, because I hadn't heard that before.)
HELL IS EMPTY, ALL THE DEVILS ARE HERE. -- Shakespeare
  • #324
  • May 27, 2016 11:38am May 27, 2016 11:38am
I've lurked in the shadows of forexfactory for the past 7 or 8 years, just to see what people think about markets etc. I joined today actually to reply to this thread. I've been trading for about 14 years, mostly forex for about 8 of them. I'm up somewhere between 45-50% for the year so far ( I risk more on a trade because I only make 1 trade a day on 1 pair) I know this has been said a million times but I'm going to say it again- #1 money management. I use 2.5:1 reward to risk, I'll either loose 20 pips or make 50. If 50% of my trades loose I'm still ahead. #2 Discipline- It's not easy to enter a trade after a couple of losers in a row, but you have to do it. I believe that short term trading is nothing more than gambling so I approach it with a professional gamblers mindset. Indicators, oscillators, etc. have no predictive ability. The price didn't go up cause the moving averages crossed- they crossed because the price went up. Fibo levels, support, resistance when price gest there it'll either reverse or breakout- so basically that tells you what you already know. At any point the price is either going to go up or down. People don't stick with anything either, they try a signal or strategy get stopped out a couple of times and move on to another system where the cycle starts over.
Just my opinion
  • #325
  • May 27, 2016 5:19pm May 27, 2016 5:19pm
Quoting Penguinvestr
I've lurked in the shadows of forexfactory for the past 7 or 8 years, just to see what people think about markets etc. I joined today actually to reply to this thread. I've been trading for about 14 years, mostly forex for about 8 of them. I'm up somewhere between 45-50% for the year so far ( I risk more on a trade because I only make 1 trade a day on 1 pair) I know this has been said a million times but I'm going to say it again- #1 money management. I use 2.5:1 reward to risk, I'll either loose 20 pips or make 50. If 50% of my trades loose I'm...
Very good. It looks like you are experienced trader.
Cut short your losses. Let your profits run on. David Ricardo (1772-1823)
  • #326
  • May 27, 2016 7:31pm May 27, 2016 7:31pm
My rules

1. There aren't any short cuts - its hard work and you have to practise, practise
2. Wait for great trade set ups
3. Learn about-Fundamental analysis, VSA, market sentiment, price action, and follow the news
4. Stick to one pair
5. Review your trades - what could you have done better.
6 Look at what the institutions do to manipulate price- what do you think they are trying to achieve
7. Max leverage x 10
8. Max 2% risk on any trade
9. Choose a trading style that suits your personality - mine is day trading (I place my orders and that is it). - a lot less work than scalping
  • #327
  • Aug 14, 2016 3:11am Aug 14, 2016 3:11am
  •  Falco.
  • | Joined Oct 2015 | Status: I'm not surprised motherfuckers | 20 Posts
0anyway think logic what will need to happen in the world so that will create demand for a certain currency and here i don't mean at a pair just a single one like USD read anything u can about macro flow,macroeconomics , intermarket realations and how the markets react to each other ..this for the average joe are very very! boring readings but if u do this things u will see the markets with eyes that majority have no ideea and u will see WHY a trending market happens and WHY currency pairs stay in a range that is very important because knowing when will trend will allow u to use "system " that perform good in those market conditions and the same for choppy markets.
  • #328
  • Aug 14, 2016 3:15am Aug 14, 2016 3:15am
Are there any successful Traders in Forex Factory?

Maybe yes maybe no, i don't know
If you like my post throw me a Doge: D9eyP5TFYGDaN1JpjyU4jaU9ypg2wUk8Zp
  • #329
  • Aug 14, 2016 2:49pm Aug 14, 2016 2:49pm
There are so many different statistics... 95 and 5%, 98% and 2%, 99% and 1%... Where is the truth?)) the last one seems to me the most believable
  • #330
  • Aug 14, 2016 3:17pm Aug 14, 2016 3:17pm
Quoting ChaoSi
There are so many different statistics... 95 and 5%, 98% and 2%, 99% and 1%... Where is the truth?)) the last one seems to me the most believable
Don't think about it
  • #331
  • Aug 15, 2016 3:00pm Aug 15, 2016 3:00pm
Quoting HeyYou
{quote} Don't think about it
it's really better not to think about it...don't want my hope (to become one of these 1%) to die (sorry fow my english)
  • #332
  • Aug 17, 2016 2:11am Aug 17, 2016 2:11am
Yes, thier are many successfull traders, around. but often only the beginners or looser are visible here, sucessful traders donot show of them selves.

My satergy of trading to become successful with short term trades is keep watching the market with lowest volume 0.01 trades, when there is a news or strong indicators, take a risk of higher volumes, you will be 75% success with this method, try once. i always won in this method
  • #333
  • Edited 4:20pm Aug 17, 2016 4:09pm | Edited 4:20pm
Quoting ChaoSi
{quote} it's really better not to think about it...don't want my hope (to become one of these 1%) to die (sorry fow my english)
...and the funny thing is that everyone seems to be successful here, nobody talks about his/her mistakes. the pessimists are saying "I knew everything since the beginning" and the dreamers are feeding their beliefs. However I agree , stop thinking about what others are doing is good.
  • #334
  • Aug 18, 2016 12:50am Aug 18, 2016 12:50am
Quoting hanover
{quote} I don't want to sound negative, but I suspect that the quarterly analysis reported by forexmagnates doesn't reflect long term profitability. This has been discussed many times before (e.g. I touched on it in the second part of my post here).
There is no long term profitability in the forex.
Long term all the funds in all the accounts are transferred to the broker via the transaction cost
It's a relatively slow but inexorable dwindling spiral.
  • #335
  • Aug 18, 2016 1:59pm Aug 18, 2016 1:59pm
Quoting HeyYou
{quote} ...and the funny thing is that everyone seems to be successful here, nobody talks about his/her mistakes. the pessimists are saying "I knew everything since the beginning" and the dreamers are feeding their beliefs. However I agree , stop thinking about what others are doing is good.
oh...I do a lot of mistakes.. I am newbie in trading and I understand that there is a long long way before I atchive success... Sometimes I am thinking about investing in PAMM account and get some money without any nerves and stresses) but I also want to prove myself that I can
  • #336
  • Aug 18, 2016 2:39pm Aug 18, 2016 2:39pm
Quoting Mingary
{quote} There is no long term profitability in the forex. Long term all the funds in all the accounts are transferred to the broker via the transaction cost It's a relatively slow but inexorable dwindling spiral.
Hmm. Why Soros is exception? ( becoz he jewish?) and W. Buffet ? ( no idea jewish or not) when they will blow their accounts? Long time over
Never Gamble Forex
  • #337
  • Aug 18, 2016 2:42pm Aug 18, 2016 2:42pm
Quoting ChaoSi
{quote} oh...I do a lot of mistakes.. I am newbie in trading and I understand that there is a long long way before I atchive success... Sometimes I am thinking about investing in PAMM account and get some money without any nerves and stresses) but I also want to prove myself that I can
Do NOT invest in any Russian Pamm brokers ( example Lite forex,Instaforex) . Never ever get lured by Pamm Managers 25000% to 55000% profits. All those are broker shell accounts and trick to snatch your money.
Never Gamble Forex
  • #338
  • Aug 18, 2016 3:32pm Aug 18, 2016 3:32pm
Quoting ChaoSi
{quote} oh...I do a lot of mistakes.. I am newbie in trading and I understand that there is a long long way before I atchive success... Sometimes I am thinking about investing in PAMM account and get some money without any nerves and stresses) but I also want to prove myself that I can
if you plan not to trade yourself I recommend copy trading instead of pamm, you have more control.
  • #339
  • Aug 19, 2016 7:01am Aug 19, 2016 7:01am
Its true not believe on Broke's PAMM but its true market realize profit is good even more than 25000% would you like to see if yes you may see my profile and portfolio http://www.forexfactory.com/ankit595
  • #340
  • Aug 19, 2016 7:42am Aug 19, 2016 7:42am
Any trader like to have a go at posting a definition of exactly what a successful trader is?

Post a definition and provide the source!

I think you might struggle but good luck in any case.

Masterrmind......... :nerd:
Master your Mind then Master your Trades
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