Does anyone really make money off of the Forex? - Page 31
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  1. #301
    Join Date
    Feb 2012
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    Quote Originally Posted by hypnos63 View Post
    thanks andyk, and in2blues. i will re-read the babypips school treatment of this and search for a micro-lot broker. will appreciate any other helpful tips.
    Try XM.com. I trade with them and they offer micro lots.

  2. #302
    Join Date
    Feb 2012
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    London
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    938
    Quote Originally Posted by daedalus View Post
    I'm suprised they haven't been messing with his trades either! I asked him about that but he says hes had no problems. Whats more amazing is hes actually been using deutche bank, which is essentially fxcm, which as far as I know, is a bucket shop more or less. But I guess if its working for him its working for him. Maybe they have set his account aside to take positions with him, instead of hedged against? (Is that even possible?)
    What's that about? Mess with trades. Please explain more...

    I am aware brokers get inventory but liquidity is constant from liquidity providers and if it is low they will essentially increase the spread to affect demand and supply. Why would they mess your trades? And how?

    Broker/dealers may take positions themselves Deutche is a broker dealer but again your trades are based on the orderflow so if you are on the right side then great but if you on the wrong side then Poof! Zero sum markets, loosers pay winners...

    The brokers normally have a good idea of the orderflow across all brokers as this directly affects their inventory but in most cases liquidity is constant so brokers have no risk so worry only about spreads. Any other microstructure specialists care to elaborate? Microstructure has never been my strong suit in fact I am really just starting to get a handle on it.

  3. #303
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    Jun 2013
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    Belgium
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    51
    Quote Originally Posted by parsifal23 View Post
    Sorry, but that´s simply not true (Marketers trying to sell their stuff often quote it), the truth is (some of the largest Brokers made an investigation) that about 70 % of Traders loose Money, 30 % are profiting, 5 % earn a lot of cash and
    1 % are the eleite.traders.
    Of course if you only count newbies the percentage of loosers is bigger....
    I´m trading Forex since 2 years now and I needed 15 month (on Demo) to become profitable, meanwhile my Live-Account grows between 3 % and 35 % a month, but if I reinvest my earnings I suppose I´ll need another 3 - 5 year to live off it.
    Kind regards
    parsifal
    I'd say 80% of the traders who try it will fail eventually. Maybe not at the beginning but certainly after a couple of months they fail due to lack of discipline and money management.

    Reinvest / compound your earnings will get you sooner to your target. I calculated that within 2 years I can live off of forex due to compounding my earnings.

    Good luck

  4. #304
    Quote Originally Posted by thejoery View Post
    I'd say 80% of the traders who try it will fail eventually. Maybe not at the beginning but certainly after a couple of months they fail due to lack of discipline and money management.

    Reinvest / compound your earnings will get you sooner to your target. I calculated that within 2 years I can live off of forex due to compounding my earnings.

    Good luck
    In other words 80% fail because they don't know what they are doing.

    I'm not sure 80% is the correct figure as I really don't think anyone knows the correct figure.

    The problem with quoting this figure is defining what success is.

    Jessie Livermore is classed as a successful trader but he died broke... go figure !

  5. #305
    Join Date
    Sep 2010
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    In this Internet age, the word 'fact' is sadly often followed by something which the writer couldn't prove and doesn't know to be a fact.

    But it does keep the debates flowing nicely - if we actually had half the facts claimed various discussions would have run out of steam years ago.

  6. #306
    Join Date
    Dec 2012
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    Quote Originally Posted by SimonTemplar View Post
    In this Internet age, the word 'fact' is sadly often followed by something which the writer couldn't prove and doesn't know to be a fact.

    But it does keep the debates flowing nicely - if we actually had half the facts claimed various discussions would have run out of steam years ago.
    Truly agree with you Simon

  7. #307
    Quote Originally Posted by david222 View Post
    I think making money in Forex is very hard if you have no knowledge about forex. So if you want to earn some money then go to a Forex school and learn about Forex. Then it be very easy to earn some money.
    Name one school that can do that and can prove it !

  8. #308
    Join Date
    Jul 2013
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    31
    Traders who follow the tracks of the big banks and hedge funds do make money. Key is to employ the same techniques like the major players like Fibonacci-Numbers, Pivot-Lebels, Divergences and Ichimoku. Turn up the Volume !

  9. #309
    Join Date
    Oct 2011
    Location
    Bergen, Norway
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    Quote Originally Posted by parsifal23 View Post
    Traders who follow the tracks of the big banks and hedge funds do make money. Key is to employ the same techniques like the major players like Fibonacci-Numbers, Pivot-Lebels, Divergences and Ichimoku. Turn up the Volume !
    and your source is?

  10. #310
    Join Date
    Jan 2013
    Location
    Perth, Western Australia
    Posts
    739
    I make money. And got the tax bill and accountant fees to prove it.

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