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Consider yourself blessed

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  • How many lots does it take to move EURUSD 1 pip (high liquidity)
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  • Post #1
  • Quote
  • First Post: Oct 30, 2016 2:18am Oct 30, 2016 2:18am
At some point in your life, you were blessed/lucky (whatever you believe in) to discover Forex. You are already ahead of 90% of the population. Let's say only roughly 10% of the population knows about Forex. That means 700 million people. Of those 700 million people, only 10% will ever have the guts to try trading. That's 70 million people. Of those 70 million people, only 10% end up making consistent profits (these guys don't quit when the going gets tough). That's 7 million people out of 7 billion.

If you are successful trading, you are part of the 0.1% club.

If you aren't yet successful, I promise you will be if you do not give up.

Most people are quitters. However, I'm a firm believer that if you work for something hard and long enough, the universe MUST give it to you. It may not be on the time frame you want, but it will happen. Hell, even if it takes you 10+ years to become a consistent trader, it will happen for you. Just keep grinding. Keep working hard.

One of the worst feelings in the market is when you feel like "maybe this is a SCAM, they always go for my S/L"

No, they aren't going for YOUR S/L. They are going for the COLLECTION of retail traders S/L, which you just happen to be a part of. If you are feeling like you can't do this, don't give up. We've all been there.

In my experience, when something clicks in Forex, it really clicks. When you start seeing consistency, it isn't just minor success. It's big time success. It's like you go hyperdrive from shit trader to great trader. At least for me, when it finally clicked, it felt like there was no going back (and there wasn't, the equity curve has been making higher highs and higher lows since that point where it "clicked").

Even if you have low starting capital, you can make it in this industry. I've seen two people recently go from $5000 to $40000 in 15 trading days, and from $10000 to $95000 in 5 trading days.
Be hopeful in a winning position, and fearful in a losing position.
its just words on a page.

I highly doubt you've made a single dime in the foreign exchange market. If you truly had a clue you wouldn't be so bold as to coax innocent people into a game (you should well know)they will never win.

Your words mean nothing to me. A glossy packet of sugary treats on a shelf at best. And poison to the buyer.


Or...

Inserted Video
Time hides Nothing
  • Post #3
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  • Edited 3:00am Oct 30, 2016 2:42am | Edited 3:00am
Quoting CindyXXXX
its just words on a page. I highly doubt you've made a single dime in the foreign exchange market. If you truly had a clue you wouldn't be so bold as to coax innocent people into a game (you should well know)they will never win. Your words mean nothing to me. A glossy packet of sugary treats on a shelf at best. And poison to the buyer. Or... https://www.youtube.com/watch?v=qsubHmx2Pws
You're the one who sounds cynical, probably from years of consistent losses.

Coaxing people? I gain nothing from inspiring people other than knowing I've helped them in some way.

I hope you weren't the one who voted 100-200 lots moves EURUSD 1 pip. Shows a real lack of knowledge.

Also to say that winning traders would not be trying to inspire others to not quit is wrong. It's losing traders who inspire others to quit. Exactly like you did on your post (which is what gives away that you are likely a losing trader)

Welcome to ignore.

I don't have time for drama in my life, especially FF drama. If you're going to insult someone for no reason, you will be ignored (and thus blocked from the thread). I want to hear about traders stories. Success stories would be great but if you are still struggling, feel free to post your story as well and maybe people can give some tips to help improve your psychology.
Be hopeful in a winning position, and fearful in a losing position.
Quoting Rag2RichesFX
I'm a firm believer that if you work for something hard and long enough, the universe MUST give it to you.

That means you don't know much about the universe.
  • Post #5
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  • Edited 6:51am Oct 30, 2016 6:05am | Edited 6:51am
Firstly trading is not hard. What makes this business hard is the eye watering amount of crap systems out there that appear to be ok then you start to lose and you never recover. Firstly indicators are totally useless, brokers supply them free because they give you no edge. Before you have a go at me over this make your point with evidence and fact.

Next the market is only ever in three states, up down sideways. Going sideways requires one method, going up and down require another. You don't know which state the market will be in, you can only see the past so you make an assumption the market will stay in its previous state. When it changes state you will lose a couple of trades, keep the losses small.

Greed and fear setting a 20 pip take profit on most days will always be filled especially in a ranging market. Do it on a trend day and you might never see that level again for weeks. The first absolute in trading is don't fight the market, I still make that mistake sometimes it is the kiss of death for any account. If the market is going up look to buy low, if its going down look to sell high. It really is that simple. All you work out then is where is high and where is low relative to price.

To illustrate this idea I am going to use the DAX

Monday I would look to sell the DAX between 10747.50 and 10729 my first take profit is 10650 my next is 10580. I am looking to sell because last weeks move was down, so I am selling into up moves
Quoting Hurst
Firstly trading is not hard. What makes this business hard is the eye watering amount of crap systems out there that appear to be ok then you start to lose and you never recover. Firstly indicators are totally useless, brokers supply them free because they give you no edge. Before you have a go at me over this make your point with evidence and fact. Next the market is only ever in three states, up down sideways. Going sideways requires one method, going up and down require another. You don't know which state the market will be in, you can only see...
Nice to find another trader that knows how the price moves! Regards!
"How many lots does it take to move EURUSD 1 pip (high liquidity)"
Relative. FX is ocean and ocean hasn't always the same level at all shores. So price can get influenced with very small amount or can't get influenced with huge amount. No one can say this or that level. Additionally it's highly corrolated with the liquidity provier of one's broker and how it's connected to the big ocean. Tight pipes can create delays

"Authorities are checking if bids were faked in the $5 trillion-a-day forex market, sources say"
http://www.bloomberg.com/news/articl...tions-iutjsxbh

moving what...!?
WBS Where are Buyers and Sellers
Rag2RichesFX has a point.
But , in my case, the thing that makes me wonder if this is a BIG SCAM is not the stop loss mambo jambo . Its letters like this :

"Please be advised that OANDA Europe Ltd. has made changes to our fxTrade Customer Agreement effective October 27, 2016. These changes are designed to provide all clients with clear and transparent details pertaining to opening and maintaining an OANDA fxTrade account.

The material changes made in our client agreement are:

39. Client Money
(a)OANDA will hold your money (including cash deposited, realised profit and unrealised profit) as trustee in a segregated account at a bank or other financial institution chosen by us in accordance with the FCA Client Money Rules subject to and in accordance with this Agreement.

(b) OANDA may hold client money in a client bank account located outside the EEA. The legal and regulatory regime applying to any such bank will be different from that of the EEA and in the event of the insolvency or any other equivalent failure of that bank, your money may be treated differently from the treatment that would apply if the money was held with a bank in the EEA.

(c)OANDA accepts no responsibility for the solvency of the bank or other financial institution and to the extent that part or all of your money is lost by reason of the partial or complete failure of the bank or other financial institution the loss will be borne by you, not OANDA."""


The brokers is what makes me feel unsafe.
Like Rags2Riches said , it all "clicked" for me about two years ago.
At this moment i dont pay attention to technical annalisys since i am so experienced that i make Money easily.
I spend most of my time trying to figure out how can i ensure brokers dont screw me.
The irony here is that i passed the level of mastering the market to a level much more dificult of mastering the brokers itself.
One other irony : I am not scared of the market anymore but i am scared the hell of brokers.
Quoting Zemanel
Rag2RichesFX has a point. But , in my case, the thing that makes me wonder if this is a BIG SCAM is not the stop loss mambo jambo . Its letters like this : Please be advised that OANDA Europe Ltd. has made changes to our fxTrade Customer Agreement effective October 27, 2016. These changes are designed to provide all clients with clear and transparent details pertaining to opening and maintaining an OANDA fxTrade account. The material changes made in our client agreement are: 39. Client Money (a)OANDA will hold your money (including cash deposited,...
Why don't you just trade futures then?
"Men Who Can Both Be Right & Sit Tight Are Uncommon" ~ Jesse Livermore
Quoting skyway
In your example 7million blessed traders made it to success. But there's the larger 65million people who did not make it, losing their life savings, home, family and some even their lifes, do you not see that dying elephant ? Cindy was pointing that out to you and you banned him - it doesn't automatically make him a loser. While you're all preoccupied in glorifying some fictitious success, you seem to ignore the huge failure rate of this business which is significantly damaging. So, although your encouraging someone new or struggling in this business...
Failure rate in every profession that is competitive is pretty high. 85% of startup companies go belly up within the first year, 5-10% in the second. What is your estimate, how many people fail to become professional athletes despite the fact that they were training day and night? I would say close to 90%.

Trading is way more competitive, since your goal is to make money. You make money by taking it away from others. If you decide to put your life savings on the line, it is you own stupidity. Every single trading-related book starts out with the well familiar message: Trade with money you can afford to lose. It is natural selection at it's finest. You make a mistake, you pay for it. Unlike in society, there are no safety webs to save you.
Invincibility lies in the defence; the possibility of victory in the attack
Quoting CindyXXXX
its just words on a page. I highly doubt you've made a single dime in the foreign exchange market. If you truly had a clue you wouldn't be so bold as to coax innocent people into a game (you should well know)they will never win. Your words mean nothing to me. A glossy packet of sugary treats on a shelf at best. And poison to the buyer. Or... https://www.youtube.com/watch?v=qsubHmx2Pws
It really can be done. I went from being a consistent loser and then one week I just stopped losing. It was around the time the last guy from our original beginners group quit. I was least likely to succeed but just sticking with it when others left I turned a breakthrough corner.

After that I soon had a 600% gain on my account and it was not just a one time thing. My next breakthrough God willing will be to pause and keep those gains and add to them when the market reveals the opportunity.

I remember Joseph Gibbons in the movie: Floored Into The Pit. He sat in his Chicago suburb home reflecting on his trading career. He recalled a lot of traders making way more money than him but for some reason or another losing it again. He kept his gains. Don't give up. It is possible.
Be humble or be humbled.
Quoting Zemanel
Rag2RichesFX has a point. But , in my case, the thing that makes me wonder if this is a BIG SCAM is not the stop loss mambo jambo . Its letters like this : "Please be advised that OANDA Europe Ltd. has made changes to our fxTrade Customer Agreement effective October 27, 2016. These changes are designed to provide all clients with clear and transparent details pertaining to opening and maintaining an OANDA fxTrade account. The material changes made in our client agreement are: 39. Client Money (a)OANDA will hold your money (including cash deposited,...
I was a client of Oanda US, then Oanda UK. What they say at point b is very strange. You should ask what bank did they choose, outside EEA. I have seen some brokers (I don't remember them now) that reveal the bank they keep the money of their clients. Anyway, the regulations are not in the favor of the clients, as they say. I find it very strange that the brokes have unique powers in relation to the clients regarding the terms and conditions of trading the cleints must sign before the broker will open an account, this means that the broker has full and discretionary control over the trading conditions and over the clients money.

Regards!
Quoting Rag2RichesFX
At some point in your life, you were blessed/lucky (whatever you believe in) to discover Forex. You are already ahead of 90% of the population. Let's say only roughly 10% of the population knows about Forex. That means 700 million people. Of those 700 million people, only 10% will ever have the guts to try trading. That's 70 million people. Of those 70 million people, only 10% end up making consistent profits (these guys don't quit when the going gets tough). That's 7 million people out of 7 billion. If you are successful trading, you are part of...
Thanks for writing this uplifting post, appreciate it !
Quoting Rag2RichesFX
At some point in your life, you were blessed/lucky (whatever you believe in) to discover Forex. You are already ahead of 90% of the population. Let's say only roughly 10% of the population knows about Forex. That means 700 million people. Of those 700 million people, only 10% will ever have the guts to try trading. That's 70 million people. Of those 70 million people, only 10% end up making consistent profits (these guys don't quit when the going gets tough). That's 7 million people out of 7 billion. If you are successful trading, you are part of...
This universe needs more people with your desire to help others, thanks for your words.
thinking outside the box
  • Post #15
  • Quote
  • Last Post: Feb 19, 2019 10:46am Feb 19, 2019 10:46am
Quoting Rag2RichesFX
At some point in your life, you were blessed/lucky (whatever you believe in) to discover Forex. You are already ahead of 90% of the population. Let's say only roughly 10% of the population knows about Forex. That means 700 million people. Of those 700 million people, only 10% will ever have the guts to try trading. That's 70 million people. Of those 70 million people, only 10% end up making consistent profits (these guys don't quit when the going gets tough). That's 7 million people out of 7 billion. If you are successful trading, you are part of...
Loved it. Thanks for sharing sir.
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