Does anyone really make money off of the Forex? - Page 21
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  1. #201
    Join Date
    Mar 2012
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    651
    Quote Originally Posted by 2ndSkiesForex View Post
    Hello Traders,

    It should be noted the numbers '90%' of traders don't make money is not accurate. Industry wide studies are done on a quarterly basis and the numbers are anywhere from 23-45% of all account holders make money.

    Here are some stats and information on that below;
    US Forex Traders Profitability Report

    Hope this helps.

    In terms of traders making money trading forex, besides the information above, I do make money day - day out, run a boutique fund which has a 9year audited track record, and I share some of my trades, methods, models and ideas on a thread which you are welcome to check out at
    Forex Price Action

    I think the key thing is we can understand someone's skepticism about making money trading if they are not. But its important not to make 'our view' and experience a 'universal view and experience' about trading, and that it is certainly possible to make money trading. Depending upon how much work you are willing to do (internally, externally), your focus, efforts, and ability to remain aware while trading will determine your output. But it is a real thing and I know plenty of people doing it everyday.

    Anyways, good discussion chaps.

    Kind Regards,
    Chris
    Interesting.

    Thanks for the information.

  2. #202
    Join Date
    Sep 2012
    Location
    Australia
    Posts
    89
    Quote Originally Posted by Banker928 View Post
    Although the chances of a coin landing on its head on the first flip is 50%..... Landing on heads four flips in a row is only 6%.... Obviously there are some conceptual differences between a coin flip and account profitability but this illustrates the point I'm trying to make...
    Wouldn't you get the same probability trying to get HHHT or HHTH for that matter? because each flip has 50/50 and is not dependent on the previous result. I haven't done probability since high school but I think thats right :P

  3. #203
    Join Date
    Jul 2011
    Posts
    192
    Quote Originally Posted by 2ndSkiesForex View Post
    Hello Traders,

    It should be noted the numbers '90%' of traders don't make money is not accurate. Industry wide studies are done on a quarterly basis and the numbers are anywhere from 23-45% of all account holders make money.

    Here are some stats and information on that below;
    US Forex Traders Profitability Report

    Hope this helps.

    In terms of traders making money trading forex, besides the information above, I do make money day - day out, run a boutique fund which has a 9year audited track record, and I share some of my trades, methods, models and ideas on a thread which you are welcome to check out at
    Forex Price Action

    I think the key thing is we can understand someone's skepticism about making money trading if they are not. But its important not to make 'our view' and experience a 'universal view and experience' about trading, and that it is certainly possible to make money trading. Depending upon how much work you are willing to do (internally, externally), your focus, efforts, and ability to remain aware while trading will determine your output. But it is a real thing and I know plenty of people doing it everyday.

    Anyways, good discussion chaps.

    Kind Regards,
    Chris
    With one slight correction, the consensus here is that the general view is EVERYONE is making money, when the facts are Most everyone is not making money.

    9 out 10 from my facts, but even your biased facts still show most traders don't make profits.

  4. #204
    Join Date
    Mar 2012
    Posts
    651
    Quote Originally Posted by sman1109 View Post
    With one slight correction, the consensus here is that the general view is EVERYONE is making money, when the facts are Most everyone is not making money.

    9 out 10 from my facts, but even your biased facts still show most traders don't make profits.
    I would like you to point out how you came up with everyone is making money.

    Your facts aren't facts. You gave no reference.

  5. #205
    Join Date
    Apr 2012
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    1,184
    Quote Originally Posted by sman1109 View Post
    With one slight correction, the consensus here is that the general view is EVERYONE is making money, when the facts are Most everyone is not making money.

    9 out 10 from my facts, but even your biased facts still show most traders don't make profits.
    I think there is a confusion and misunderstanding here.

    Never in my post do i say everyone makes money. I say very clearly anywhere from 23-45% of the people make money as shown by the audited reports from all US regulated brokers for the last quarter. This changes, but the numbers stay relatively stable so the statement 9 out of 10 is factually not correct.

    So there is some confusion and and misunderstanding of what i said. What i did not say is that everyone is making money so not sure where this idez came from or how you misread it

    Kind Regards,
    Chris

  6. #206
    Join Date
    Oct 2012
    Posts
    26
    Quote Originally Posted by In2Blues View Post
    From the sound of your basic question, hypnos63, I would strongly suggest that you go through the free Babypips school before you do anything else. It will give you a good overview of the Forex market, including things like leverage, Stop Losses, and how to choose a broker:

    School of Pipsology - - Beginner's Guide to Forex Trading, Free Forex Education, Learn to Trade Forex, Forex Training - BabyPips.com

    You can also do a search of the forums and find many recommendations for brokers. Most offer 100;1 leverage, but you need to know what that means for you and how best to use it. The school will explain that.

    I second this -- School of pisology is the first place to start

  7. #207
    Join Date
    Jul 2012
    Location
    London, Battersea
    Posts
    6
    Quote Originally Posted by 4xLover View Post
    I've been trading for about 4 months now and it really seems like I am not going anywhere.

    Does anyone have any success stories they could share or any advice you could give to a newbie like me?

    I'm really down right now seeing as I had high hopes for the Forex but I'm not sure if I can bear the financial losses.
    I went though exactly the same thing, having studied for a year before even opening a demo account.

    Now i trade 1 lot on a few different pairs, and concentrate on trading well instead of making money. I still discipline myself to close losing trades and let winners run, as another thing I was doing was letting losers go for to long and closing winners to early in a bid to grab even a little profit.

    Don't give up, adapt your method and overcome. The quality of life day trading provides as far as I am concerned cannot be beaten. I take no sh** from anyone like bosses of 'colleagues' and I 'eat what i kill'. No commute, and I see more of my kids than any other father I know.

    Good luck!!!

  8. #208
    Join Date
    Feb 2012
    Posts
    1

    Default 4hr MACD Method

    Quote Originally Posted by daedalus View Post
    I can't comment personally as i've just converted from futures to forex and am trading small size for now, before i move up to standard sized lots, but even trading mini sized lots on a small <1000.00 account I expect to bring in between a 50-100% return on that account this month.

    I can tell you that my trading friend is using the 4hr MACD method posted on forexfactory trading 100 lots positions and hes bringing in between 300k-500k USD monthly.

    No bull****. The guy lives in a crappy little 100k house in Georgia and has a new 300k Ferrari 430 on order. lol.

    It can be done, it is being done.



    Hi do you have an email link of this method would like to look into it.

    Kind Regards Ronnie

  9. #209
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    Jun 2012
    Location
    UK and New Zealand
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    458
    The only problem I see with these posts is that most people here are dreamers and your problem is discarding them,no doubt there one or two people who know what they are talking about but the rub is knowing whos who.Your only way of knowing if you can win or lose long term is to demo trade for two years+,Discard all your meaningless indicators your crossing moving averages blar blar etc and work off pure price action,no doubt some will say they've made heaps with this indicator or that one ,but dont listen to them,its all crap and it took me two years to work it out.So stick to price +supply and demand (different to support and resistance) and you'll be on the right road,and those who dont agree,who cares.
    Last edited by Pipzilla; 10-30-2012 at 08:19 PM. Reason: Inappropriate Language

  10. #210
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    Sep 2012
    Location
    Australia
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    Quote Originally Posted by buster48 View Post
    The only problem I see with these posts is that most people here are either dreamers or bull******s and your problem is discarding them,no doubt there one or two people who know what they are talking about but the rub is knowing whos who,the ones who dismiss this are probably the biggest bull******s.Your only way of knowing if you can win or lose long term is to demo trade for two years+,Discard all your meaningless indicators your crossing moving averages blar blar etc and work off pure price action,no doubt some will say they've made heaps with this indicator or that one ,but dont listen to them,its all crap and it took me two years to work it out.So stick to price +supply and demand (different to support and resistance) and you'll be on the right road,and those who dont agree,who cares.
    What works for one person may not work for someone else, you can advise people on your experiences but I don't think it's fair to tell them what to discard and what's sure to work, I'm against indicators myself, don't use them at all, but the truth is there are people out there who do make money using indicators, its part of their trading style and I think every person needs to develop their own with trial and error, like you did I guess .

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