Does anyone really make money off of the Forex? - Page 18
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  1. #171
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    Quote Originally Posted by Pingback View Post
    I know I shouldn't keep beating a dead horse, but this George Soros guy has probably never worked a day in his life. If he has it probably was behind a desk or someone else doing it for him. I doubt he even does his own trading. Our Fathers and Mothers worked in Factories. They had retirement benefits and darn good ones. Because Unions did it for them. Now we have no factories, no Unions to give us that retirement our Fathers and Grandfathers made. So what have we. 401 K's that are highly risky, most pay very little of the companies money and we have to put most in ourselves. So we have found ourselves in markets that we know nothing about. So we leave it to the pro's, most of us or we have to learn how to trade. And most of us don't have the resources or money to make a go of it. Sorry! Just my view on Mr. Rich Guy!
    He had to do something to get his wealth. Sounds like your definition of work is just physical labor.

    I don't understand when you say 401k pay very little of company's money. A 401k isn't an investment in a company. It's diversified. I work for a non-union company that offers 401k with matching bonus, and a pension. You can leave it alone or choose how risky you want it to be.

    You have the resources. You're here...

    "So we leave it to the pro's, most of us or we have to learn how to trade. And most of us don't have the resources or money to make a go of it"

    I'm afraid I don't understand what your trying to say. Of course you have to learn, its the same with anything.

  2. #172
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    May 2011
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    Quote Originally Posted by sman1109 View Post
    I am living example of a real person, telling you a real story about trading FOREX. All beginners, heed my advice, because it is one hundred percent true and based on my very own experiences.

    I have traded since the swiss bank intervention, which was approximately almost 2 years ago, since then I have lost thousands upon thousands of dollars. Don't get me wrong, I followed the idiotic school here, I know everything there is to know about trading, triangles, trend lines, flags, fundamentals, QE effects on the market, BLAH BLAH BLAH.

    You will lose, when you come here, 90 percent of the people appear like their profiting, in reality maybe 10 percent of the people here actually make a profit, and they leech of the poor guys like ourselves, to make millions of dollars. They are Romney supporters, and we are Obama supporters, and the dodd frank act was the beginning of saving us, for tragedy in the FOREX market.

    To conclude, after 2 years, trading everyday, spending many hours researching this, I am not a dunce I am just like everyone of you, and hope no one here limits my speech, but I am telling all of you the truth, Forex is a scam that benefits the rich, and nothing trickles down to any of us. We will go broke, as I did, I've lost thousands as I've said and NO it wasn't all in one trade, it was the span of HUNDREDS UPON HUNDREDS OF WELL INFORMED TRADES, trading a MICRO account with a minimum of 50 dollars, and I STILL LOST THOUSANDS.

    Please if my speech isn't limited, learn from my mistakes, and don't fall into what their trying to sell you, they are very rich and profit from poor traders who lose their life savings wanting a better life. They are republicans, we are democrats.
    I found out why you failed.

    "This is my several micro account attempt to turn $50 into $10,000 usually on average I lost $50 every two weeks for the past year." - you

    "It takes too long to get rich using professional risk management with paltry sums of capital, how do some people increase their account size by 1000 percent in just one month?" - you

    "...there are people who are skilled enough to turn a few dollars into a lot of money in the span of one month and would like to know the framework to go about it without them revealing the actual strategy as that is priceless." - you

    "I have a larger risk because I use the margin call to stop me out and sometimes one loss takes out a big chunk of my account still working on where you are in discipline." - you


    These really got me right here, given how much you want the politicians to regulate FX now.

    "the politicians may ruin forex they dropped our leverage from 400 to 50 in a few years so they want you to stay in school" - you


    "If you have strong odds in your favor in a trade the higher leverage allows you to make more money.

    IF you are experienced and only trade with the odds in your favor then your wins will always cover your losses no matter how high the leverage is so in the end the politicians ruined forex by reducing your ability to make more money." - you


    See... I don't think you knew what you were doing. A little common sense might have helped you out. You didn't fail because of Romney or because of the Republican Party... you failed because you are a gambler.

    In my opinion, high leverage is stupid, but that doesn't mean the government should ban it. As somebody else mentioned, you don't need a car that is capable of going over 75mph, but that doesn't mean the govt should ban it. America is supposed to be a free society. The government can't constitutionally protect you from yourself. That is a prison and it goes against the grain of everything this country was built on. If you don't like it, move to a country like North Korea that adheres to your principles.
    Last edited by jollygreenfello; 10-25-2012 at 12:13 AM.

  3. #173
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    Mar 2012
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    Quote Originally Posted by akeakamai View Post
    Egos: the bigger they are, the harder they fall

    good investigative journalism there jollygreen lol. I'd like to see him refute his own comments.

    personally, I think he should buy a whistle, and if a war starts, he can blow on it and someone will come to help him.
    Jolly knows his stuff. Better than anyone else I know.

  4. #174
    Join Date
    Jul 2011
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    192
    Quote Originally Posted by jollygreenfello View Post
    I found out why you failed.

    "This is my several micro account attempt to turn $50 into $10,000 usually on average I lost $50 every two weeks for the past year." - you

    "It takes too long to get rich using professional risk management with paltry sums of capital, how do some people increase their account size by 1000 percent in just one month?" - you

    "...there are people who are skilled enough to turn a few dollars into a lot of money in the span of one month and would like to know the framework to go about it without them revealing the actual strategy as that is priceless." - you

    "I have a larger risk because I use the margin call to stop me out and sometimes one loss takes out a big chunk of my account still working on where you are in discipline." - you


    These really got me right here, given how much you want the politicians to regulate FX now.

    "the politicians may ruin forex they dropped our leverage from 400 to 50 in a few years so they want you to stay in school" - you


    "If you have strong odds in your favor in a trade the higher leverage allows you to make more money.

    IF you are experienced and only trade with the odds in your favor then your wins will always cover your losses no matter how high the leverage is so in the end the politicians ruined forex by reducing your ability to make more money." - you


    See... I don't think you knew what you were doing. A little common sense might have helped you out. You didn't fail because of Romney or because of the Republican Party... you failed because you are a gambler.

    In my opinion, high leverage is stupid, but that doesn't mean the government should ban it. As somebody else mentioned, you don't need a car that is capable of going over 75mph, but that doesn't mean the govt should ban it. America is supposed to be a free society. The government can't constitutionally protect you from yourself. That is a prison and it goes against the grain of everything this country was built on. If you don't like it, move to a country like North Korea that adheres to your principles.
    I think the very few rich, who profit and exploit the majority of us, should have to move out of the USA. As they are, many wealthy Americans have left the country, to escape taxes, good riddance if you ask me.

    As for making money off FOREX, 90 percent of traders lose because eventually they get sucked into leverage, its a temptation that government must mitigate. We all do things that will hurt ourselves, and its the governments responsibility to keep us safe from ourselves.

    You call me a gambler, that may be true, but everyone 9 out of 10 traders are gamblers, and lose money that is very important to them, and that has got to stop. The FOREX market is a casino quite honestly, and it is disguised to the majority of vulnerable traders as a legitimate investment vehicle, but if that were true more people would be making money.

    I ask all of you, why are the facts the way they are? 9 out of 10 traders lose, that is a fact that 9 out of 10 members here will be net losers, only the rich guy is profiting here, that says something is wrong.

  5. #175
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    Jul 2011
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    192
    Quote Originally Posted by Pingback View Post
    I know I shouldn't keep beating a dead horse, but this George Soros guy has probably never worked a day in his life. If he has it probably was behind a desk or someone else doing it for him. I doubt he even does his own trading. Our Fathers and Mothers worked in Factories. They had retirement benefits and darn good ones. Because Unions did it for them. Now we have no factories, no Unions to give us that retirement our Fathers and Grandfathers made. So what have we. 401 K's that are highly risky, most pay very little of the companies money and we have to put most in ourselves. So we have found ourselves in markets that we know nothing about. So we leave it to the pro's, most of us or we have to learn how to trade. And most of us don't have the resources or money to make a go of it. Sorry! Just my view on Mr. Rich Guy!
    Agreed we have no factories or unions anymore, all we have is this FOREX market, where only 10 percent of all us make any money.

    We have 401k's invested in the stock market, and they fail as easily as I do when I bet the Euro will sell against the Dollar, because all the rich people who run financial media, tell me so, so that when I lose money they make money.

    I use my leverage, then lose my capital, now I'm poor, without a retirement and now they want to privatize social security.

  6. #176
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    Nov 2011
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    628
    If that's the case then maybe what you want is for the governments of the world to control the advertising.
    You seem to have a problem with the way forex is marketed.
    Anyway, maybe you can put it to bed now.

    Quote Originally Posted by sman1109 View Post
    I think the very few rich, who profit and exploit the majority of us, should have to move out of the USA. As they are, many wealthy Americans have left the country, to escape taxes, good riddance if you ask me.

    As for making money off FOREX, 90 percent of traders lose because eventually they get sucked into leverage, its a temptation that government must mitigate. We all do things that will hurt ourselves, and its the governments responsibility to keep us safe from ourselves.

    You call me a gambler, that may be true, but everyone 9 out of 10 traders are gamblers, and lose money that is very important to them, and that has got to stop. The FOREX market is a casino quite honestly, and it is disguised to the majority of vulnerable traders as a legitimate investment vehicle, but if that were true more people would be making money.

    I ask all of you, why are the facts the way they are? 9 out of 10 traders lose, that is a fact that 9 out of 10 members here will be net losers, only the rich guy is profiting here, that says something is wrong.

  7. #177
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    651
    Quote Originally Posted by sman1109 View Post
    I think the very few rich, who profit and exploit the majority of us, should have to move out of the USA. As they are, many wealthy Americans have left the country, to escape taxes, good riddance if you ask me.

    As for making money off FOREX, 90 percent of traders lose because eventually they get sucked into leverage, its a temptation that government must mitigate. We all do things that will hurt ourselves, and its the governments responsibility to keep us safe from ourselves.

    You call me a gambler, that may be true, but everyone 9 out of 10 traders are gamblers, and lose money that is very important to them, and that has got to stop. The FOREX market is a casino quite honestly, and it is disguised to the majority of vulnerable traders as a legitimate investment vehicle, but if that were true more people would be making money.

    I ask all of you, why are the facts the way they are? 9 out of 10 traders lose, that is a fact that 9 out of 10 members here will be net losers, only the rich guy is profiting here, that says something is wrong.
    You said forex is like a casino. So then why are you attacking forex, and not casinos? Why are they regulating forex and leaving casino's untouched?

    They're not trying to protect you.

    You're a gambler. You blew your savings, that means you have a gambling problem. There are programs out there for this.

  8. #178
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    651
    Quote Originally Posted by sman1109 View Post
    Agreed we have no factories or unions anymore, all we have is this FOREX market, where only 10 percent of all us make any money.

    We have 401k's invested in the stock market, and they fail as easily as I do when I bet the Euro will sell against the Dollar, because all the rich people who run financial media, tell me so, so that when I lose money they make money.

    I use my leverage, then lose my capital, now I'm poor, without a retirement and now they want to privatize social security.
    401k's dont fail as easily as you do...

    my 401k is doing quite well actually, and you lost your savings. There's no comparison

  9. #179
    Just peeking in ~ I doubt many here remember me, but I was curious how things were going for everyone.

    Fair's fair; I'll share as well, and report actual, unambiguous, financial results of my forex days! In short: I have not lost money on Forex since I began studying it in 2010. That said, I haven't made anything either! Two solid years of... no change. Did about a year of serious study on demo accounts, mostly using a scalping technique that did quite well for a neighbour. The result was this: a few percent gains in a typical week, then every 8 or 10 weeks I would screw up and erase most or all of the gains. Reasons varied: technical blunders, momentary ill~advised trading; things like that. It was stressful and difficult (for me) to do right, kept me up at night (trading the London open from California) and I never quite got used to it.

    As it was... instead I started Yet Another Small Business, along with three tiny businesses already owned. Small business is not terribly different than trading, in many ways: elements of risk, involvement with the greater economy and so forth depending what you are doing. It has just been easier and less stressful. Even so, I've kept my eye on trading now and again, having promised myself to get better at VSA methods someday. Analytically it was one of the few methods that seemed to make clear, immediate sense, although my VSA trades were rare (twice a week at best). If there was learning taking place, though, it was glacially sloooow. Looking back I wish I had stuck with it, though would 50 trades a year be enough to distinguish any kind of ability from luck, good or bad? Not sure about that.

    So here's the question: how has the past year or so been for everyone? Typical, usual, "nothing new under the sun" markets just as any other typical year? Or quirky, unpredictable, unusual, or difficult in any way?

    Incidentally, in spite of the hours spent, and one forex market simulator purchased (200 USD) ~ it has been a solid investment in knowledge, regardless of trading result. The difference between financial ignorance and a basic education: a 'wealth' unto itself.

    Looking back, I'm quite happy with the time and hours spent here; it was 'worth it' in a big picture sort of way, lack of personal financial improvement notwithstanding.

    Happy trading! I wish everyone the best, and all success.

  10. #180
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    Jul 2011
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    Hey guys, if FOREX weren't out to make the rich richer, and were a legitimate investment vehicle, then more people would be making money right?

    90 percent of traders lose, because of the lie that is FOREX, I rest my case.

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