Does anyone really make money off of the Forex? - Page 22
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  1. #211
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    Oct 2012
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    Quote Originally Posted by stinsfire View Post
    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 .
    I agree. Have any of you heard about the commitments of traders report. It could be a good alternative, since it is not derived from price and shows how market participants change their positions (great legal insider info!). Of course you may ask, how does this help forex traders, but there are commitment of traders data on currency futures and in my experience (using it for over 5 years) the signals are pretty affective.

  2. #212
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    Jun 2012
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    Quote Originally Posted by stinsfire View Post
    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 .
    And you have proof of this ?we cant know for sure that people make consistant money using indicaters ,maybe for spoting divergence,but this is my point ,of those people who say they do ,how do we know for sure,ive yet to meet one,but thanks for your opinion antway
    Last edited by buster48; 10-30-2012 at 05:37 AM.

  3. #213
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    Quote Originally Posted by buster48 View Post
    And you have proof of this ?we cant know for sure that people make consistant money using indicaters ,maybe for spoting divergence,but this is my point ,of those people who say they do ,how do we know for sure,ive yet to meet one,but thanks for your opinion antway
    Just to give some proof of people making money with indicators (which can be done), there is;
    a) the automated trading championships whereby most of the automated systems making money are using indicators
    and
    b) I have a student using of of my systems which is indicator based called the shadow system, and posted his live track record for an entire year to me, making 110% with some impressive stats. Feel free to check out the article on my site called 'ode to the 4hr charts' whereby I post his live track record.

    So hopefully that demonstrates some proof of it, besides the fact almost all the automated trading algos are indicator based. Traders are making money with all kinds of systems, price action based and indicator based, so hopefully this gives an alternate perspective.

    Kind Regards,
    Chris

  4. #214
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    Oct 2010
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    Linda Raschke, when asked in an interview whether traders on her company's floor use indicators or not: "Some use completely naked charts, others have their screens filled with indicators. People do what works for them."

  5. #215
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    Jun 2012
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    Quote Originally Posted by 2ndSkiesForex View Post
    Just to give some proof of people making money with indicators (which can be done), there is;
    a) the automated trading championships whereby most of the automated systems making money are using indicators
    and
    b) I have a student using of of my systems which is indicator based called the shadow system, and posted his live track record for an entire year to me, making 110% with some impressive stats. Feel free to check out the article on my site called 'ode to the 4hr charts' whereby I post his live track record.

    So hopefully that demonstrates some proof of it, besides the fact almost all the automated trading algos are indicator based. Traders are making money with all kinds of systems, price action based and indicator based, so hopefully this gives an alternate perspective.

    Kind Regards,
    Chris
    The sceptical among us might say that (by his own admision ) Cris has "students and systems"he might be a tad bias not to badmouth indicators,anyway if they work for him then well done ,I still stand by what I said,And wont post anymore on this subject.

  6. #216
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    Oct 2012
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    I am also a green horn who just began trading a couple of weeks ago. I play small and so far break even only. I think I have adopt a good strategy mindset, which is, trade without chasing after money. Just testing my probability theory on this game to gear myself up.

  7. #217
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    Mar 2012
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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.
    Couldn't you say the same thing about price action...

  8. #218
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    Jul 2012
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    only 4 months ?? c'mon you don't really expect to become profitable in that time of period do you ? if that's so I'm afraid that you are a victim of false Forex propaganda usually given by brokers.

    before I discover babypips I was a "student" of this successful trader name Jose Soto and I quote student because he really didn't teach me anything. he is not a bad guy or anything but the only thing he does is give you entry signals and live access to his trading operations, so you really know his making real money

    the thing is he is different from me and if you want to became a trader You need to do things on your own , but if you want money just give you account to a professional trader and relax .

    i have a year and a half in the Forex world and for the first time I ended in profit on my demo account for October you can check my trandings on meetpips icisnerosfx

  9. #219
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    Apr 2011
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    347
    Quote Originally Posted by fletcher View Post
    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!!!
    So in a nutshell your saying you do well trading Forex and are able to make a living doing it. I myself believe there are people making a living trading. I don't know about Forex, but I know in the stock and commodities markets there are traders doing very well. I think a lot of people here are simply beginners and haven't actually made it to that skill level yet. After all this is a beginner Forex site. Not saying you have to be a beginner but a lot of people come here to learn Forex. And if you are a Pro then why would you want to post threads on how much money your making. Your probably to busy trading.

  10. #220
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    Apr 2011
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    Quote Originally Posted by wigglez View Post
    I'll bet my 401k is a lot more reliable than social security, as long as the government doesn't wreck it. Heck they're saying social security won't be around by the time I get of retirement age.

    The government shouldn't be running much of anything. I don't know how much you've had to deal with government directly, but they are terribly inefficient.

    People fail at a lot of things, or they choose a different path later. How many people do you know that changed their majors in college, and then come out and not work in their field? Off the top of my head I can think of 3 people, and I'm a recluse

    Not too mention the massive debt they've accumulated, but that's another topic.

    I'm not sure what would happen to the rich. They'll probably be okay, you're right, but I do know the UN was toying with the idea of getting all the billionaires in the world, to help out everybody. A little home homework says that the worlds billionaires net worth is about 4.6 trillion. That's hardly a third of the U.S. debt.

    I think it was maybe 4 or 5 months ago I figured it out among the entire earth's population. If you were to take away everything from these billionaires and spread it out around the world. That would give each person on earth, about $700.

    4.6 trillion is a crap ton of money, but it doesn't scale like people think it does.
    The answer of Billionaires or Millionaires helping the poor in my opinion won't work. I do believe that many Billionaires who run there companies should have better benefits for there workers. I think it is simply greed and to much of it. The Government has had to step in on many occasions to help the citizens of the US. The great depression, world war 2. Roosevelt. The new deal. That had to happen. Companies don't help citizens until someone steps in and says, Hey! Better do what's right. Take Unions for example. Medicare, minimum wage, insurance. All this was because Unions stepped in. On the other hand the Government does a really crappy job of allowing policies to be passed that actually hurt American workers. Then due to job losses and outsourcing the US workers don't make enough to pay taxes and we wind up getting cuts in Government programs like Social Security that we pay into from our hard work. It's a vicious cycle of no return on investment for us and the Government.

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