Does anyone really make money off of the Forex? - Page 15
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  1. #141
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    Quote Originally Posted by Banker928 View Post
    You strived for two years to take other peoples money in this market.... Your motivations are just as evil.... You just are not intelligent enough to execute it..... Therefore you rationalize yourself as the innocent victim....

    If by some miracle you had been successful at this you would be just as happy as the evil banker your pointy your finger at
    You might want to reread the late edit, those few who are presently successful at this have a responsibility to newer traders.

    George Soros, arguably the best currency trader, was very influential with his time and money lobbying for the new regulations on this market.

  2. #142
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    Quote Originally Posted by sman1109 View Post

    This site certainly does benefit the wealthy, contrary what the other poster said, many of the newer traders are victims and FOREX is zero sum, which means when one trader loses, another benefits.
    Equal number of winners and losers. If you do have a trading system and want to leverage the returns, be careful. Everyone out there things they are smarter than then next guy. But like you, the next guy thinks he is smarter than you. If you are asking yourself “can I make money trading currency?” Ask yourself how will you beat the problem of it being a zero sum game? And there is your answer.

  3. #143
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    Quote Originally Posted by sman1109 View Post
    Yea, their evil capitalists who exploit us, for their own financial gain.

    I have nothing against FOREX, if I were able to be successful, I would use my money to lobby for stricter rules on the market, so that future traders don't have to face financial ruination, like many of us do now, to the evil manipulations they use to make inexperienced traders lose their money.

    As mentioned before, 50:1 going to 10:1 will help us immensely, when we are risking capital learning the market.
    I am speechless!! high leverage is only for the extremely dumb or the extremely talented...

    I really think if you are going to blame the gov. for your stupidity then better to blame it at the school level...

  4. #144
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    Quote Originally Posted by sman1109 View Post
    Yea, their evil capitalists who exploit us, for their own financial gain.

    I have nothing against FOREX, if I were able to be successful, I would use my money to lobby for stricter rules on the market, so that future traders don't have to face financial ruination, like many of us do now, to the evil manipulations they use to make inexperienced traders lose their money.

    As mentioned before, 50:1 going to 10:1 will help us immensely, when we are risking capital learning the market.
    ---


    If I sell 2500 Units for 1% risk, having 1:1, 10:1, 50:1, or 45682:1 doesn't matter, more leverage just gives me more available units to trade and a smaller margin window if you CHOOSE to use those units.

    Leverage has absolutely nothing to do with protecting you, and those life savings. It just gives you more of what you can't afford. It's up to you to take it and play it.

    Also you do not need a big capital to learn like you say, because you've got demo accounts, and it doesn't matter if you trade with 10K or 50$ because losing 1% is 1%. If you can't afford micro/mini lots, get a unit account and define pip price per your liking.

    If you do not define risk, and risk more than you can afford to lose, you are a gambler.

    It's not that 95% of traders lose, it's that 95% of those in the market are gamblers.

    And no, I'm not rich, and have a day job, and taxed 50% of capital gains like any joe out there.
    The difference is that I define risk, not only in the markets but in life.
    I would only put what I can afford to lose in any situation; ie not my life savings.

    But if I feel there is some pain to be dealt by running some stops, I will gladly join in the move and take it from you.
    Because that's the whole idea of the game!

    my 2 cents.

  5. #145
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    Quote Originally Posted by Banker928 View Post
    The forex market is not entirely made up of speculators trying to make a profit.... If it were then your argument would be valid. It is rather, a medium for large multinational companies to operate their businesses, for central banks to control monetary policy, and serves a purpose larger then what many small picture retail traders realize....

    It's the opportunities that the daily operations of the non-speculators give us that allow us to make money....
    My look at the hypocrisy, George Soros was right then?

    If we are making money against the big banks, and not fellow traders, then the new Government rules are protecting us after all.

    No one is taking money from others, but from the big institutions and banks, and the rules need to change so that the little guys don't lose money, by getting pushed around by the rich banks who hunt stops and take our money regularly.

    Reducing the leverage to 10 to 1 will happen after President Obama's re-election. The dodd frank act, will get a lot more comprehensive than those meager provisions already in it.
    Last edited by sman1109; 10-21-2012 at 11:45 PM.

  6. #146
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    Quote Originally Posted by JimboJett View Post
    ---


    If I sell 2500 Units for 1% risk, having 1:1, 10:1, 50:1, or 45682:1 doesn't matter, more leverage just gives me more available units to trade and a smaller margin window if you CHOOSE to use those units.

    Leverage has absolutely nothing to do with protecting you, and those life savings. It just gives you more of what you can't afford. It's up to you to take it and play it.

    Also you do not need a big capital to learn like you say, because you've got demo accounts, and it doesn't matter if you trade with 10K or 50$ because losing 1% is 1%. If you can't afford micro/mini lots, get a unit account and define pip price per your liking.

    If you do not define risk, and risk more than you can afford to lose, you are a gambler.

    It's not that 95% of traders lose, it's that 95% of those in the market are gamblers.

    And no, I'm not rich, and have a day job, and taxed 50% of capital gains like any joe out there.
    The difference is that I define risk, not only in the markets but in life.
    I would only put what I can afford to lose in any situation; ie not my life savings.

    But if I feel there is some pain to be dealt by running some stops, I will gladly join in the move and take it from you.
    Because that's the whole idea of the game!

    my 2 cents.
    I don't think you're getting the point.

    Firstly, advocating stop hunting is unethical to say the least, no retail trader can put in an order like that, so that is an unfair luxury of the Rich.

    Secondly, having the freedom to use leverage IS the problem. People have freedoms all the time, and they abuse those freedoms, that is why most of the country is obese, or have some type of disorder.

    It's up to government to regulate those freedoms, to protect us, and MOST new traders may be gamblers, but that is exactly why they have to be protected, with 10 to 1 leverage.

    I am living proof, I have 2 years experience in FOREX, and have lost my life savings. I know the dangers of leverage, but was unfairly manipulated, or tempted, to use it against myself. The government has to put a stop to this, or many more people are going to lose a lot of money, as the majority presently are.

    Many brokers have been audited by the FED, it was found that 9 out of 10 people in the market, have lost tens of thousands of dollars, and are net losers as traders. That says a lot
    Last edited by sman1109; 10-21-2012 at 11:47 PM.

  7. #147
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    Quote Originally Posted by sman1109 View Post
    I am living proof, I have 2 years experience in FOREX, and have lost my life savings.
    Can you show us some of your trades?

  8. #148
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    To be honest, you can only blame yourself. Trading is far more risky than investing. If you were unaware of the risks involved then that's down to your (I mean anyone who starts trading, not you directly) lack of research and understanding.

    If people are willing to throw tens of thousands of dollars at new accounts, then more fool them...it's pure stupid and shows how naive some people can be. This is a business, and lets not forget that..

  9. #149
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    sman you are one pathetic dude. I feel sorry that you lost so much money trading but the blame is only on you. A loser at 100:1 leverage will be a loser regardless if it's 10:1 or 5:1 or 1:1. You can control your position size depending on your risk appetite. No one forces you to use all that leverage. Do you think cars should be capped at a maximum speed of 60mi/h because that is the suggested speed limit?

  10. #150
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    Quote Originally Posted by sman1109 View Post
    I don't think you're getting the point.
    Firstly, advocating stop hunting is unethical to say the least, no retail trader can put in an order like that, so that is an unfair luxury of the Rich.
    Sure you can, no one is stopping you from putting in an order at a key high/low. If the trade goes your way, you essentially took out some poor dude's stop for your gain.

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