Does anyone really make money off of the Forex? - Page 26
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  1. #251
    Join Date
    Oct 2012
    Posts
    1
    Hi daedalus

    Do you have a link for this strategy?

    Thanks
    A

  2. #252
    Join Date
    Oct 2011
    Location
    Beverly Hills, Tokyo, Одесса
    Posts
    185
    hmmm 90% huh.....one out of ten make money.....well there has to be over 20 people here....that makes 2 of us profitable.
    I know the two here that make money.....myself included))))))

    I don't know if you can make money in forex but i know i can and do; and if i can, anyone can. Everyone takes their path, uses their skills and personality. For me, i've owned many businesses, have an aero nautical engineering degree and MBA on foreign economics. 5 years losing experience in Forex before becoming profitable. Fx was in its infancy when i started. I thought i was going to be easy. As i traveled the world and already thought i knew what was going on. I learned right away, put the ego aside along with the emotion, sit down and learn. See if it was for me.

    maybe it will work for you maybe it won't. I know i could never be a doctor. Know what your worth and know your limits.

    as for the sm whatever guy??? 2 years at forex????? give me a break....

  3. #253
    Join Date
    Jun 2012
    Posts
    39
    Quote Originally Posted by sman1109

    Of course you do, 9 out of 10 traders lose and that is how veteran traders make money, when 90 percent of traders who are newbies lose their money.

    They are selling trickery, advertising work at home, be your own boss, become a millionaire, but that is not the case according to the facts.

    I believe until the leverage is mandated to 10:1, only then will the FOREX market be safe for newbies to enter and learn. I've been trading for 2 years now since the new 50:1 leverage law took place and have lost my life savings.

    That is have I have 2 years experience, I have learned now to read the news and use fundamental analysis with a combination of technical analysis and have still lost a lot of money.

    This is because the leverage is still too high, and its a tool used to exploit newer traders like myself and others here. So no, if you are new you are not making money off of FOREX, but you are helping the older traders make money.
    Sorry, but you dont seem to be the best guy to give advice. Why would you throw away your life savings? Right off the bat, that just shows recklessness. Yea im a noob to forex, but that just seems straight up stupid.

  4. #254
    succeed on the forex market depends on your knowledge of the subject, use a good reliable broker, put your emotion aside.
    use a good forex robot is neccesaire to earn more money.

  5. #255
    IdeFX Guest
    Yep, and pretty good. I had my ups and downs, but I am still trading on the $200 i started with. Profits are pretty stable, although 2011 was not as good as 2010. Am seriously thinking to go trading fulltime. What is a big statement for a financial risk manager, so I have counted the odds hundreds of times...:-)

    This is not to show off, but to give hope that it can be done. The biggest losses made by me was by going against my plan. I learned that my plan is more reliable than my own judgement, so I excluded myself from the equation..:-)

  6. #256
    Join Date
    Jul 2011
    Posts
    192
    Quote Originally Posted by Goldboner500 View Post
    Leverage don't mean shoot; it's position size that matters, if my risk calculations say I can afford £0.22/pip then that's it, leverage is irrelevant, incidently I'm at 50:1, suits me just fine. And about the matter really under discussion; I've just started, in the last month or so, to grow my equity an average of 2% per day, and for the last 2 weeks - 4.3% per day!(and that includes weekends) Ka-Chingg! And that's by completly cutting off doing stupid things like chasing price and overtrading. Letting some trades run for a couple of days if I think I'm in a good position has definetly helped put money in the bank, only putting in orders at levels of confluence, using bigger stops, taking 50% profits off at first targets, etc etc. I first heard of forex and opened a demo account in November 2011, I've been trading live since Feb this year and lost £900 out of my initial £1200 before I began to sort myself out, or I should say the wise teachings of our very own fx sensei ICT sorted me out!
    It appears that this thread is about demonizing the 80-90 percent of traders who lose their life savings trading FOREX.

    Words like "stupid" and "greedy" come up a lot to describe the victims, when those labels are better suited for the Rich traders and brokers who profit from them.

    Leverage is the problem with FOREX today, according to all the government studies on the FOREX market most newer traders lose because they put too much leverage on their position sizes.

    It is no secret why Brokers offer 500:1 and 1000:1 leverage, because that encourages bigger losses and more profits for rich traders and the brokers.

    So the Dodd-Frank act had the intention of 10:1 leverage, but evil lobbying by the rich made it 50:1, however we know the direction the finance industry is going and we will expect to see better regulations that correct this to help newer traders. Because they will learn FOREX better when they don't lose half of their account in one trade, after being tempted and tricked into making money immorally by those who seem them as vulnerable.

  7. #257
    Join Date
    Sep 2010
    Location
    Peak District, UK
    Posts
    2,405
    Quote Originally Posted by sman1109 View Post
    It appears that this thread is about demonizing the 80-90 percent of traders who lose their life savings trading FOREX.

    Words like "stupid" and "greedy" come up a lot to describe the victims, when those labels are better suited for the Rich traders and brokers who profit from them.

    Leverage is the problem with FOREX today, according to all the government studies on the FOREX market most newer traders lose because they put too much leverage on their position sizes.

    It is no secret why Brokers offer 500:1 and 1000:1 leverage, because that encourages bigger losses and more profits for rich traders and the brokers.

    So the Dodd-Frank act had the intention of 10:1 leverage, but evil lobbying by the rich made it 50:1, however we know the direction the finance industry is going and we will expect to see better regulations that correct this to help newer traders. Because they will learn FOREX better when they don't lose half of their account in one trade, after being tempted and tricked into making money immorally by those who seem them as vulnerable.
    Describing losing traders as 'victims' is surely also a poor choice of term? Noone forces them to trade, if people pile into the market with too much money for their limited experience/skill level then surely they are victims purely of their own ambition overcoming their current level of understanding and skill? Anyone who loses their whole life savings while not being an experienced trader is surely guilty simply of risking too much of their wealth? Keeping the risk small during the learning period seems obvious to me, it is more than simply sensible, it is obvious. Noone needs to be demonized here: we all choose to participate in this market, some people have an aptitude and take a sensible, steady approach, and they make money. A lot of money. Others lack either the aptitude or the sensible approach, or both, and they will not make money. If they lose more than a small amount then they were, in my view, trying to run before they could walk. So noone on either side needs to be the villain or the victim - some get it right, some make mistakes. It is a sad fact of life that we are not all of us cut out to do everything well. Some people will be poor traders, and some of those people will lose more money than they should because they failed to grasp their situation. It happens, and is not a situation that needs to have a villain.

    I wonder why you inhabit this board - it does not seem to make you happy, and your mindset is not that of a trader, so while your more opinionated posts do occasionally provide some amusement and interest to the rest of us, I wish I had your levels of free time!

    And lobbying is not evil, any more than a gun is evil.

    ST

  8. #258
    Join Date
    Mar 2012
    Posts
    651
    Quote Originally Posted by SimonTemplar View Post
    Describing losing traders as 'victims' is surely also a poor choice of term? Noone forces them to trade, if people pile into the market with too much money for their limited experience/skill level then surely they are victims purely of their own ambition overcoming their current level of understanding and skill? Anyone who loses their whole life savings while not being an experienced trader is surely guilty simply of risking too much of their wealth? Keeping the risk small during the learning period seems obvious to me, it is more than simply sensible, it is obvious. Noone needs to be demonized here: we all choose to participate in this market, some people have an aptitude and take a sensible, steady approach, and they make money. A lot of money. Others lack either the aptitude or the sensible approach, or both, and they will not make money. If they lose more than a small amount then they were, in my view, trying to run before they could walk. So noone on either side needs to be the villain or the victim - some get it right, some make mistakes. It is a sad fact of life that we are not all of us cut out to do everything well. Some people will be poor traders, and some of those people will lose more money than they should because they failed to grasp their situation. It happens, and is not a situation that needs to have a villain.

    I wonder why you inhabit this board - it does not seem to make you happy, and your mindset is not that of a trader, so while your more opinionated posts do occasionally provide some amusement and interest to the rest of us, I wish I had your levels of free time!

    And lobbying is not evil, any more than a gun is evil.

    ST
    He's a hypocrite. He set out to do the burning, and complains when he's the one that caught fire.

  9. #259
    Join Date
    May 2011
    Location
    South America
    Posts
    1,471
    Quote Originally Posted by sman1109 View Post
    Words like "stupid" and "greedy" come up a lot to describe the victims
    Well those words fit you to perfection... you were a stupid greedy when gambled with your family life savings

  10. #260
    Join Date
    Jul 2011
    Posts
    192
    Quote Originally Posted by SimonTemplar View Post
    Describing losing traders as 'victims' is surely also a poor choice of term? Noone forces them to trade, if people pile into the market with too much money for their limited experience/skill level then surely they are victims purely of their own ambition overcoming their current level of understanding and skill? Anyone who loses their whole life savings while not being an experienced trader is surely guilty simply of risking too much of their wealth? Keeping the risk small during the learning period seems obvious to me, it is more than simply sensible, it is obvious. Noone needs to be demonized here: we all choose to participate in this market, some people have an aptitude and take a sensible, steady approach, and they make money. A lot of money. Others lack either the aptitude or the sensible approach, or both, and they will not make money. If they lose more than a small amount then they were, in my view, trying to run before they could walk. So noone on either side needs to be the villain or the victim - some get it right, some make mistakes. It is a sad fact of life that we are not all of us cut out to do everything well. Some people will be poor traders, and some of those people will lose more money than they should because they failed to grasp their situation. It happens, and is not a situation that needs to have a villain.

    I wonder why you inhabit this board - it does not seem to make you happy, and your mindset is not that of a trader, so while your more opinionated posts do occasionally provide some amusement and interest to the rest of us, I wish I had your levels of free time!

    And lobbying is not evil, any more than a gun is evil.

    ST
    This is all in support of more regulations, and in agreement to what I've been saying. People can't control risk without proper training, in the future people would be required to take classes and get a degree before trading FOREX.

    If all that is true in your post, then government must save people from their own ambitions with better rules. Presently to many people are LOSING money off of FOREX, and the government reducing leverage gives them time to get that training.

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