Does anyone really make money off of the Forex?

If you don’t know enough then learn, if you think you don’t know enough then you probably don’t. There’s no harm in spending months and months learning before doing, If you’re approaching Forex with the aim of “needing to be making a return in a couple of months” then you’re probably going to rush it, and jump in too fast and mess it up.

what deregulation are you referring to?

I agree with you. Well but it needs a lot of time for getting experience in trading. And not only time of life but own money. It likes casino but there is an opportunity in some period of time become professional.

I know I shouldn’t keep beating a dead horse, but this George Soros guy has probably never worked a day in his life. If he has it probably was behind a desk or someone else doing it for him. I doubt he even does his own trading. Our Fathers and Mothers worked in Factories. They had retirement benefits and darn good ones. Because Unions did it for them. Now we have no factories, no Unions to give us that retirement our Fathers and Grandfathers made. So what have we. 401 K’s that are highly risky, most pay very little of the companies money and we have to put most in ourselves. So we have found ourselves in markets that we know nothing about. So we leave it to the pro’s, most of us or we have to learn how to trade. And most of us don’t have the resources or money to make a go of it. Sorry! Just my view on Mr. Rich Guy!

He had to do something to get his wealth. Sounds like your definition of work is just physical labor.

I don’t understand when you say 401k pay very little of company’s money. A 401k isn’t an investment in a company. It’s diversified. I work for a non-union company that offers 401k with matching bonus, and a pension. You can leave it alone or choose how risky you want it to be.

You have the resources. You’re here…

“So we leave it to the pro’s, most of us or we have to learn how to trade. And most of us don’t have the resources or money to make a go of it”

I’m afraid I don’t understand what your trying to say. Of course you have to learn, its the same with anything.

I found out why you failed.

“This is my several micro account attempt to turn $50 into $10,000 usually on average I lost $50 every two weeks for the past year.” - you

“It takes too long to get rich using professional risk management with paltry sums of capital, how do some people increase their account size by 1000 percent in just one month?” - you

“…there are people who are skilled enough to turn a few dollars into a lot of money in the span of one month and would like to know the framework to go about it without them revealing the actual strategy as that is priceless.” - you

“I have a larger risk because I use the margin call to stop me out and sometimes one loss takes out a big chunk of my account still working on where you are in discipline.” - you

These really got me right here, given how much you want the politicians to regulate FX now.

“the politicians may ruin forex they dropped our leverage from 400 to 50 in a few years so they want you to stay in school” - you

"If you have strong odds in your favor in a trade the higher leverage allows you to make more money.

IF you are experienced and only trade with the odds in your favor then your wins will always cover your losses no matter how high the leverage is so in the end the politicians ruined forex by reducing your ability to make more money." - you

See… I don’t think you knew what you were doing. A little common sense might have helped you out. You didn’t fail because of Romney or because of the Republican Party… you failed because you are a gambler.

In my opinion, high leverage is stupid, but that doesn’t mean the government should ban it. As somebody else mentioned, you don’t [I]need[/I] a car that is capable of going over 75mph, but that doesn’t mean the govt should ban it. America is supposed to be a free society. The government can’t constitutionally protect you from yourself. That is a prison and it goes against the grain of everything this country was built on. If you don’t like it, move to a country like North Korea that adheres to your principles.

Jolly knows his stuff. Better than anyone else I know.

I think the very few rich, who profit and exploit the majority of us, should have to move out of the USA. As they are, many wealthy Americans have left the country, to escape taxes, good riddance if you ask me.

As for making money off FOREX, 90 percent of traders lose because eventually they get sucked into leverage, its a temptation that government must mitigate. We all do things that will hurt ourselves, and its the governments responsibility to keep us safe from ourselves.

You call me a gambler, that may be true, but everyone 9 out of 10 traders are gamblers, and lose money that is very important to them, and that has got to stop. The FOREX market is a casino quite honestly, and it is disguised to the majority of vulnerable traders as a legitimate investment vehicle, but if that were true more people would be making money.

I ask all of you, why are the facts the way they are? 9 out of 10 traders lose, that is a fact that 9 out of 10 members here will be net losers, only the rich guy is profiting here, that says something is wrong.

Agreed we have no factories or unions anymore, all we have is this FOREX market, where only 10 percent of all us make any money.

We have 401k’s invested in the stock market, and they fail as easily as I do when I bet the Euro will sell against the Dollar, because all the rich people who run financial media, tell me so, so that when I lose money they make money.

I use my leverage, then lose my capital, now I’m poor, without a retirement and now they want to privatize social security.

If that’s the case then maybe what you want is for the governments of the world to control the advertising.
You seem to have a problem with the way forex is marketed.
Anyway, maybe you can put it to bed now.

You said forex is like a casino. So then why are you attacking forex, and not casinos? Why are they regulating forex and leaving casino’s untouched?

They’re not trying to protect you.

You’re a gambler. You blew your savings, that means you have a gambling problem. There are programs out there for this.

401k’s dont fail as easily as you do…

my 401k is doing quite well actually, and you lost your savings. There’s no comparison

Just peeking in ~ I doubt many here remember me, but I was curious how things were going for everyone.

Fair’s fair; I’ll share as well, and report [I]actual, unambiguous, financial results[/I] of my forex days! In short: I have not lost money on Forex since I began studying it in 2010. That said, I haven’t made anything either! Two solid years of… no change. Did about a year of serious study on demo accounts, mostly using a scalping technique that did quite well for a neighbour. The result was this: a few percent gains in a typical week, then every 8 or 10 weeks I would screw up and erase most or all of the gains. Reasons varied: technical blunders, momentary ill~advised trading; things like that. It was stressful and difficult (for me) to do right, kept me up at night (trading the London open from California) and I never quite got used to it.

As it was… instead I started Yet Another Small Business, along with three tiny businesses already owned. Small business is not terribly different than trading, in many ways: elements of risk, involvement with the greater economy and so forth depending what you are doing. It has just been easier and less stressful. Even so, I’ve kept my eye on trading now and again, having promised myself to get better at VSA methods someday. Analytically it was one of the few methods that seemed to make clear, immediate sense, although my VSA trades were rare (twice a week at best). If there was learning taking place, though, it was glacially sloooow. Looking back I wish I had stuck with it, though would 50 trades a year be enough to distinguish any kind of ability from luck, good or bad? Not sure about that.

So here’s the question: how has the past year or so been for everyone? Typical, usual, “nothing new under the sun” markets just as any other typical year? Or quirky, unpredictable, unusual, or difficult in any way?

Incidentally, in spite of the hours spent, and one forex market simulator purchased (200 USD) ~ it has been a solid investment in knowledge, regardless of trading result. The difference between financial ignorance and a basic education: a ‘wealth’ unto itself.

Looking back, I’m quite happy with the time and hours spent here; it was ‘worth it’ in a big picture sort of way, lack of personal financial improvement notwithstanding.

Happy trading! I wish everyone the best, and all success.

Hey guys, if FOREX weren’t out to make the rich richer, and were a legitimate investment vehicle, then more people would be making money right?

90 percent of traders lose, because of the lie that is FOREX, I rest my case.

Of course it will make the rich richer. Thanks to leverage it also gives the little guy a shot to get richer to. You didn’t rest anything. It’s the choices you made that led to your failure.

You either pick yourself up and try again, or, you walk away. Both are perfectly valid options. If you decide to come back, then I suggest you get your gambling problem taken care of first, or you’ll be back to blaming forex instead of the guy looking back at you in the mirror.

:slight_smile: and really useful school of pipsology. It really helped me to understand how to trade and forum answer a lot of arising questions. Really thankful all of you for it.

I haven’t done any trading yet. But I have been observing and studying. I find trading challenging, that is the best part. Whether I make money or not. So far if I had a comparison between Trading and doing something else to make money, I would go on something else. But when I actually start trading I may lean toward the trading side. On the other side of the coin I see a lot of people trying to make money off of beginners, and making half washed promises of making money. The old saying “If it’s to good to be true” then be wary of it.

Wow! There aren’t to many of those companies left. Good for you. Actually my 401 K has done pretty good. No pension, though! Better than anything I will make in stocks. But on the other side of the coin if the economy tanks according to world economics, not just the US dollar, and we wind up in another recession or better put depression, then that 401 K could say BYE! BYE! Then what is a person to think. I agree with you on most counts, but I don’t want to keep beating that dead horse, he might wake up and bite me. As far as Trading goes, I like the challenge, but I haven’t found much evidence of very many people making much if any money that is worthwhile trading. There are some, but I don’t see any evidence of the mass majority of let’s say beginners and pro’s or so called pro’s really making a go of it. Looks to me like selling books and charging extremely vast amounts of money to learn is where the money is. Maybe I could learn it really well, then write a book on my experiences as a beginner trader, and sell it for millions. Oh Yea, and let’s not forget software. It’s everywhere. All you got to do is open an account and probably lose it all to use that MT4 or buy some really magic VSA software, or better yet learn programming and make your own software, then you could really make a bundle! Were in the Money, Yo Ho Honey!

Where in the Constitution is the federal government given the power to keep us safe from ourselves?

Also, you do realize that you are basically calling yourself a child since you need big brother to take care of you, right?

The other day I ate too many candy bars and felt sick to my stomach… This is clearly Romney’s fault. The government should require the evil company that made the candy bar to put huge warning labels on the packaging that reads “Caution, over consumption may cause abdominal pain” and the box should have pictures of people throwing up from eating too much, because I am so devoid of basic logic, that I need the government to protect me. Also I think that the government should require strict background checks and tests to ensure that I am capable of eating the candy bars responsibly. They also need to impose a national candy excise tax of 75% along with a strict rule that only permits you to buy 2 candy bars every week. They also need to do this for every other food that you could potentially over consume and feel nauseas from, because it is the governments role to prevent me from overindulging and feeling sick.

Would you really want to live in a country like that?

We’re still in a recession. It may not feel like it where you live, but believe me, the people in Michigan(where I’m from) know it.