Does anyone really make money off of the Forex? - Page 19
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  1. #181
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    Quote Originally Posted by sman1109 View Post
    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.
    Of course it will make the rich richer. Thanks to leverage it also gives the little guy a shot to get richer to. You didn't rest anything. It's the choices you made that led to your failure.

    You either pick yourself up and try again, or, you walk away. Both are perfectly valid options. If you decide to come back, then I suggest you get your gambling problem taken care of first, or you'll be back to blaming forex instead of the guy looking back at you in the mirror.

  2. #182
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    and really useful school of pipsology. It really helped me to understand how to trade and forum answer a lot of arising questions. Really thankful all of you for it.

  3. #183
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    I haven't done any trading yet. But I have been observing and studying. I find trading challenging, that is the best part. Whether I make money or not. So far if I had a comparison between Trading and doing something else to make money, I would go on something else. But when I actually start trading I may lean toward the trading side. On the other side of the coin I see a lot of people trying to make money off of beginners, and making half washed promises of making money. The old saying "If it's to good to be true" then be wary of it.

  4. #184
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    Default Wo Ho!

    Quote Originally Posted by wigglez View Post
    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.
    Wow! There aren't to many of those companies left. Good for you. Actually my 401 K has done pretty good. No pension, though! Better than anything I will make in stocks. But on the other side of the coin if the economy tanks according to world economics, not just the US dollar, and we wind up in another recession or better put depression, then that 401 K could say BYE! BYE! Then what is a person to think. I agree with you on most counts, but I don't want to keep beating that dead horse, he might wake up and bite me. As far as Trading goes, I like the challenge, but I haven't found much evidence of very many people making much if any money that is worthwhile trading. There are some, but I don't see any evidence of the mass majority of let's say beginners and pro's or so called pro's really making a go of it. Looks to me like selling books and charging extremely vast amounts of money to learn is where the money is. Maybe I could learn it really well, then write a book on my experiences as a beginner trader, and sell it for millions. Oh Yea, and let's not forget software. It's everywhere. All you got to do is open an account and probably lose it all to use that MT4 or buy some really magic VSA software, or better yet learn programming and make your own software, then you could really make a bundle! Were in the Money, Yo Ho Honey!
    Last edited by Pingback; 10-25-2012 at 01:06 PM. Reason: information overload

  5. #185
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    Quote Originally Posted by sman1109

    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.
    Where in the Constitution is the federal government given the power to keep us safe from ourselves?

    Also, you do realize that you are basically calling yourself a child since you need big brother to take care of you, right?

    The other day I ate too many candy bars and felt sick to my stomach... This is clearly Romney's fault. The government should require the evil company that made the candy bar to put huge warning labels on the packaging that reads "Caution, over consumption may cause abdominal pain" and the box should have pictures of people throwing up from eating too much, because I am so devoid of basic logic, that I need the government to protect me. Also I think that the government should require strict background checks and tests to ensure that I am capable of eating the candy bars responsibly. They also need to impose a national candy excise tax of 75% along with a strict rule that only permits you to buy 2 candy bars every week. They also need to do this for every other food that you could potentially over consume and feel nauseas from, because it is the governments role to prevent me from overindulging and feeling sick.

    Would you really want to live in a country like that?
    Last edited by jollygreenfello; 10-25-2012 at 01:07 PM.

  6. #186
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    Quote Originally Posted by Pingback View Post
    Wow! There aren't to many of those companies left. Good for you. Actually my 401 K has done pretty good. No pension, though! Better than anything I will make in stocks. But on the other side of the coin if the economy tanks according to world economics, not just the US dollar, and we wind up in another recession or better put depression, then that 401 K could say BYE! BYE! Then what is a person to think. I agree with you on most counts, but I don't want to keep beating that dead horse, he might wake up and bite me. As far as Trading goes, I like the challenge, but I haven't found much evidence of very many people making much if any money that is worthwhile trading. There are some, but I don't see any evidence of the mass majority of let's say beginners and pro's or so called pro's really making a go of it. Looks to me like selling books and charging extremely vast amounts of money to learn is where the money is. Maybe I could learn it really well, then write a book on my experiences as a beginner trader, and sell it for millions. Oh Yea, and let's not forget software. It's everywhere. All you got to do is open an account and probably lose it all to use that MT4 or buy some really magic VSA software, or better yet learn programming and make your own software, then you could really make a bundle! Were in the Money, Yo Ho Honey!
    We're still in a recession. It may not feel like it where you live, but believe me, the people in Michigan(where I'm from) know it.

  7. #187
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    Quote Originally Posted by jollygreenfello View Post
    Where in the Constitution is the federal government given the power to keep us safe from ourselves?

    Also, you do realize that you are basically calling yourself a child since you need big brother to take care of you, right?

    The other day I ate too many candy bars and felt sick to my stomach... This is clearly Romney's fault. The government should require the evil company that made the candy bar to put huge warning labels on the packaging that reads "Caution, over consumption may cause abdominal pain" and the box should have pictures of people throwing up from eating too much, because I am so devoid of basic logic, that I need the government to protect me. Also I think that the government should require strict background checks and tests to ensure that I am capable of eating the candy bars responsibly. They also need to impose a national candy excise tax of 75% along with a strict rule that only permits you to buy 2 candy bars every week. They also need to do this for every other food that you could potentially over consume and feel nauseas from, because it is the governments role to prevent me from overindulging and feeling sick.

    Would you really want to live in a country like that?
    Yes, I think I made it clear that newbies don't make money in FOREX, unless the government will hold their hand. This market is structured to make the rich richer, not the poor rich, as that is the false claim used to make 90 percent of traders lose money in the long run.

    When most of the traders are losing money, you think the answer is to keep the rules the way they are? That is ignorant, the leverage has to be reduced by government.

  8. #188
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    Quote Originally Posted by sman1109 View Post
    Yes, I think I made it clear that newbies don't make money in FOREX, unless the government will hold their hand. This market is structured to make the rich richer, not the poor rich, as that is the false claim used to make 90 percent of traders lose money in the long run.

    When most of the traders are losing money, you think the answer is to keep the rules the way they are? That is ignorant, the leverage has to be reduced by government.
    No...

    Lower leverage won't protect you. You'll just lose your money slower.

    Jolly, you can't use the constitution to argue your points with these people. It's like using the bible to prove god exists.

  9. #189
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    Quote Originally Posted by sman1109 View Post
    Yes, I think I made it clear that newbies don't make money in FOREX, unless the government will hold their hand. This market is structured to make the rich richer, not the poor rich, as that is the false claim used to make 90 percent of traders lose money in the long run.

    When most of the traders are losing money, you think the answer is to keep the rules the way they are? That is ignorant, the leverage has to be reduced by government.
    Do you even read what I post, or do you just read the first sentence?

    More than 90% of people who seriously try to become professional athletes, fail. Many of them quit their jobs and sink a lot of time, effort and money into training. Why isn't the government protecting them?

    90% of people who start businesses fail... 40% don't even last a year.

    90% of people fail in a lot of things, that doesn't mean the government should prevent them from even trying. That's crazy talk. Everybody should have the RIGHT to pursue their dreams, regardless of how risky, regardless of what my opinions are. The right to pursue your dreams exists and any government regulations that stifles your ability to meet your dream is WRONG and IMMORAL.

    How many people fail at becoming a millionaire in Vegas? Should the govt ban that? You want the government to ban, suppress, regulate or discourage almost everything. You don't want anybody to do what they want because you failed. Now everybody has to suffer with you. God forbid ANYBODY becomes successful, that would hurt your feelings.

    The govt dropped leverage to 50x already, and you still failed. As wigglez said, dropping it down lower would have made you fail even slower because you obviously were clueless as to what you were doing and your initial losses never made you think you should rethink your strategy.

    Why shouldn't the government just ban leverage? Wouldn't that help...? Then the only people that would be trading are the big dogs that already have millions of dollars to invest. Oh wait, that still doesn't satisfy your desires.


    See, Dodd- Frank and all these regulations have little perks in them that benefit the corporations who lobbied for them. In many cases they are actually written by the rent seekers and political entrepreneurship that support them.

    Regardless of what regulations are imposed on the Forex market, or anything for that matter, the fact is that there will still be a few winners and lots of losers. The only difference is that many of the winners are government chartered winners.

    The Soviet Union banned and regulated practically everything. Almost everybody lived in poverty... except for people who were politically connected or part of the government. They did pretty well actually. They actually DID steal their wealth off the backs of the poor without producing anything of value that benefited anybody.


    It's funny how government interventions and regulations always lead to more government interventions and regulations. One intervention (such as subsidies for railroads) leads to market distortions which create problems for which the public "demands" solutions. Government responds with even more interventions, usually in the form of more regulation of business activities, which cause even more problems, which lead to more intervention, and on and on. The end result is that free-market capitalism is more and more heavily stifled by regulation. And on top of that, usually the free market, not government intervention, gets the blame.

    Man, being a politician has to be the EASIEST and one of the most profitable jobs in the world. And you don't even have to create value! You make money destroying wealth and diverting it away from the poor, the middle class and the productive to the lobbyists that fund you! And on top of all that, people like you praise them for being heroic figures. I gotta become a politician. Why am I wasting my money on Forex?

    Hey, you know what! You should become a politician. You will satisfy your desire to become wealthy and you will get to pass all the worthless regulations and laws you have proposed. You will also get to make more people suffer equally, while fattening your own pockets and the pockets of your buddy lobbyists and bureaucrats! I think I found you a new career, you can thank me later with a govt subsidy


    Really though, I'm not going to stand for your nonsense. A life without freedom is not a life worth living.
    Last edited by jollygreenfello; 10-25-2012 at 11:14 PM.

  10. #190
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    FOREX claims the lively hoods of the common man, most people who start businesses don't risk most of their net worth.

    FOREX isn't a business, its an investment vehicle, and people get swindled into falling for the scam, making big investments an lose all their money.

    50 to 1 leverage is still not appropriate, do the big banks use 50 to 1 leverage? Most professional traders that work for big finance industries would be scolded if they use any more than 10 to 1 leverage. Why is okay for retail FOREX traders to use 50 to 1 leverage?

    Because its easier for the rich to exploit newer traders, from the brokers to the stop hunters, to the big movers and shakers in the market, they all profit when we use 50 to 1 leverage.

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