Does anyone really make money off of the Forex? - Page 4
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  1. #31
    For a start, I doubt there is a single person in the entire world who has ever made consistent profits after only four months of trading, so no wonder you are losing money, in fact, at your stage, you should be learning how to trade, building a winning system, and trading only on a demo site. Are you trading a system you have purchased from somewhere? If so, forget it, no one is going to sell the the goose that lays the golden egg. If not, and you have your own system, then there is no way you are going to have been able to develop it sufficiently in 4 months for you to know enough about the markets to bring you in money. Please please stop putting your money on the line and trade demo, spend evry bit of spare time you have studying the markets and backtesting your findings, and this, believe me, will take a lot longer than you think. If somehow you believe trading is easy, then let me dispel that myth for you right now, it is not, otherwise we'd all be winning. Only 10% in this game get to earn any money from it, but these are the 10% who have invested years of time and effort into learning how to trade profitably. Like anything worthwhile in life, trading is a skill like any other that has to be learnt, and it can be learnt by those who are determined enough, but it takes a lot longer than 4 months. Yes, I speak from experience, and yes, I was in your position wondering why it wasn't working for me after a few months, but I soon realised that trading was a lot harder than it looks. So my advice to you is to ask yourself if you want to invest the time and effort required to turn this into the profession you so want, and if you are, get back to basics, and trade only a demo site until you are so confident with your performance backed up by consistent results, that you feel ready to put money on the line, and then, only on a micro account to get used to trading your system with real money again. If you choose to ignore my advice, then I guarantee that you will join the 90% of people out there losing their hard earned money in this game. The very best of luck to you.

  2. #32
    Join Date
    Jun 2011
    Posts
    1,733
    the person who initiated this thread has been blocked....................

  3. #33
    Join Date
    Mar 2011
    Posts
    12
    You thought it would be easy to win the markets every day, huh? Well, many newbies tend to under estimate market obstacles. Remember, you have been trading just a short period of time, so do not give up! There are many stories about successful traders- some of them true and some not so much. However, reading about success stories won’t help you make it big. It might just inspire you, or even make you more frustrated. My advice to you is: do not try to make the big money right at the start; ask yourself everyday “what have I learned today?” try to stick to successful traders and the most important thing: DO NOT LEVERAGE your account, and do not overtrade- you will deplete your account. Your main goal in the first year is to survive the markets, learn how to control your mind and enjoy trading as much as you can. Good Luck!

  4. #34
    Join Date
    Mar 2011
    Posts
    12
    Oh i just saw your comment after i responded - oh well...

  5. #35
    Join Date
    Mar 2009
    Location
    UK
    Posts
    1,802
    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.
    It will take about 1-2years to be consistent.
    It's a bit like studying except you need to know mathematics, psychology, economics, technical stuff, fundamental reasons, market sentiment, etc.
    You need to learn about the markets first, it's not as simple as oh this system does this and this one does that.

  6. #36
    Join Date
    May 2009
    Posts
    2,945
    Quote Originally Posted by pip slayer1 View Post
    For a start, I doubt there is a single person in the entire world who has ever made consistent profits after only four months of trading, so no wonder you are losing money, in fact, at your stage, you should be learning how to trade, building a winning system, and trading only on a demo site. Are you trading a system you have purchased from somewhere? If so, forget it, no one is going to sell the the goose that lays the golden egg. If not, and you have your own system, then there is no way you are going to have been able to develop it sufficiently in 4 months for you to know enough about the markets to bring you in money. Please please stop putting your money on the line and trade demo, spend evry bit of spare time you have studying the markets and backtesting your findings, and this, believe me, will take a lot longer than you think. If somehow you believe trading is easy, then let me dispel that myth for you right now, it is not, otherwise we'd all be winning. Only 10% in this game get to earn any money from it, but these are the 10% who have invested years of time and effort into learning how to trade profitably. Like anything worthwhile in life, trading is a skill like any other that has to be learnt, and it can be learnt by those who are determined enough, but it takes a lot longer than 4 months. Yes, I speak from experience, and yes, I was in your position wondering why it wasn't working for me after a few months, but I soon realised that trading was a lot harder than it looks. So my advice to you is to ask yourself if you want to invest the time and effort required to turn this into the profession you so want, and if you are, get back to basics, and trade only a demo site until you are so confident with your performance backed up by consistent results, that you feel ready to put money on the line, and then, only on a micro account to get used to trading your system with real money again. If you choose to ignore my advice, then I guarantee that you will join the 90% of people out there losing their hard earned money in this game. The very best of luck to you.
    Nice to see a quality post... sound advise based on experience and not asumption.

  7. #37
    Join Date
    Dec 2009
    Location
    reno nv
    Posts
    3,460
    Quote Originally Posted by R Carter View Post
    Nice to see a quality post... sound advise based on experience and not asumption.
    Yup, great post. Too bad it's a 5 year old thread, and the original poster will never see it.

    Mr. Gone is an expert at dead thread dredging. Really irritating to see people care enough to spend their valuable time answering 5 year old questions, because somebody was just killing time, and randomly pulling up ancient stuff.

    I do believe that site rules state that act is a bannable offense if done enough.

  8. #38
    Join Date
    Jun 2011
    Posts
    1,733
    Quote Originally Posted by Master Tang View Post
    Yup, great post. Too bad it's a 5 year old thread, and the original poster will never see it.

    Mr. Gone is an expert at dead thread dredging. Really irritating to see people care enough to spend their valuable time answering 5 year old questions, because somebody was just killing time, and randomly pulling up ancient stuff.

    I do believe that site rules state that act is a bannable offense if done enough.
    Gets the post count up though, if anything.

  9. #39
    Join Date
    Sep 2010
    Location
    Peak District, UK
    Posts
    2,405
    Quote Originally Posted by Nikitafx View Post
    Gets the post count up though, if anything.

    Indeed, but quite apart from, as Tang correctly states, wasting people's time offering considered advice that turns out to be redundant as so much time has passed, this practice also drops current threads down off the front page that might be of current interest to some. This means that these threads often disappear prematurely. So it might sound draconian, but when this is being done as often as it is recently, I can see where the pro-ban lobby are coming from...

  10. #40
    Quote Originally Posted by Master Tang View Post
    Yup, great post. Too bad it's a 5 year old thread, and the original poster will never see it.

    Mr. Gone is an expert at dead thread dredging. Really irritating to see people care enough to spend their valuable time answering 5 year old questions, because somebody was just killing time, and randomly pulling up ancient stuff.

    I do believe that site rules state that act is a bannable offense if done enough.
    apologies to all out there, I honestly didn't realise it was a 5 year old post until after I'd submitted my reply.

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