Does anyone really make money off of the Forex?

Or you just copy a wall that’s already been built…we wont get into copy trading :wink: My view on that is rather dull

Love that quote. :slight_smile:

Hey I’m back to bring Newbies back into reality, one guy here stated his facts were 2-4 out 10 traders are profitable, after I said 1 out of 10 traders are profitable but even with his biased facts you can see the point MOST traders are not profitable.

That’s you, the guys who are profiting are making money off your hard earned money, and paint this great picture that you can making a living doing this to pay the bills for their mansions.

I’m here to tell you the truth of the matter, I’ve been trading for over 2 years now and HAVE lost my life savings in this market. I know everything there is to know about FOREX now, all these little fancy things they tell you like reading indicators, candle stick patterns, trend lines, non farm payrolls, following the news for fundamentals are all hog wash when you get your feet wet.

You can know everything for FOREX and still lose your life savings, very few people make money off FOREX and its those who have a lot of money, the more money you have the easier it is to make money its like anywhere else.

Don’t trust their language, it will get you to lose your money like me, the government has to lower the leverage to 10:1 before most traders can begin to make money, right now the odds are still against Newbies.

That is why you keep hearing them fighting against lowering leverage, because the more NEWBIES like us make, the less the rich veterans make, its a [B]mathematical certainty[/B] that they want you ignorant of.

Define Kalman Filter, Brownian Motion, Random Walk or Portfolio Variance.

And speaking of which, why are you here again? You lost your life savings to FOREX, yet you’re still here preaching.

I don’t know what you’re on about. You’re complaining that only people with money can make money in this business, but then you want them to lower leverage. I noticed I’ve been saying this a lot when reading your posts, this doesn’t make any sense.

I really can’t figure you out. You’re a walking contradiction.

Others may be immoral, but the question is does anyone make money off FOREX and there has to be one voice of truth in this mess of lies.

9 out of 10 traders don’t make money in FOREX, but 9 out 10 traders here will say otherwise to capitalize on the victims.

No, you know NOTHING about FX. Only an idiot would bet his life savings using big positions without an edge. I have challenged you to show some of your trades to tell you where you made your mistakes… NO ANSWER YET.

Two years and you don’t know how to use an indicator? May be you lack some basic education or have some psychological issues… as I said before I hope you do NOT have family that depends on you…

I’m sorry but this victim mindset is not good for you.

Think about it this way, if it is possible for you to lose consistently, then there must be something that you are doing ‘right’ that if you reverse it, you will be able to win consistently… Just something to think about.

Unfortunately, reversing what you are doing doesn’t mean you ll be profitable… I have first hand experience.

Hmm well there are a lot of variables involved and it is not so clear cut as just changing a buy to a sell… you have to take into consideration the change in risk of ruin etc.

Most people don’t trade a method long enough anyway because they over risk on each trade and let their losers run and lose everything before that so it’s hard to say that a method is not profitable in the LR until you have tested it out sufficiently say over 40 trades and have blown up your account by following the rules strictly…

I don’t have first hand experience reversing my trades so you are the authority on this one :wink:

I am a newbie. Been studying and studying. Still not trading. I will someday, then I will know for sure if I am in the top 10% of traders who make money. Truth is like you say “The more money you have to trade, the better chance you have of succeeding in Forex or any market.” The brokers will tell you that, or most of them and if they don’t then they are doing the newbie a disservice. I can see why you lost so much money. But it sounds like maybe you played more like a gambler than a trader. I suppose after a few loses, say a couple thousand dollars a person might want to rethink his position and step back and say Hey! Maybe I shouldn’t trade anymore. But the Brokers are making money that is for sure. Us newbies are probably paying for there lunches, why do they try and get so many people into trading. If they weren’t making money then I guess they wouldn’t have to tell us newbies that Hey this is where the money is! Give it to me.

You’ve probably hit the nail on the head there in many respects. Brokers must love how popular Forex has become, the amount of people who must just open a live account and drop it all in and lose it within a week.

I would hate the thought of not making it as a trader after doing all this studying. But for me when I set out to do something, I do it. I learn it a well as I can, I try to fit in a plan then I put it in action. But understanding it to me is better than just trading and not really having a plan or idea as to what your doing. Hope it works out! I’ll cross my fingers and my wallet when it comes time.

Actually this I will agree with, sorry, but I share the same thought on this statement only.

I want smans money.

Haha

I am a newbbie and after trading for 3 weeks, I start to earn money already. I started with USD$204 at Oanda and play small. Set TL or SL at 20 pips. Now raise to 100 pips. My comment is FOREX can earn money but only with tools. My money earning tool is SMA, EMA & WMA. INITIALLY I don’t use any of these tools and lost money instead. Though I am only earning a few bugs daily, I think I am on the right track. My senior always tell me, if I am not comfortable to engage in a trade, then DON’T trade and wait til the trend signal is sure down or up. I always wait for moving average lines crossing, wait a while to avoid fake signals before entering a trade.

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.

If it took you 2 years to lose your life savings at 50:1 leverage, then you were a very wealthy man.

So you’re saying you’ve been trading two years now and still haven’t learned to back off your risk?

If you’re still losing after two years, then you haven’t learned a thing.

You talk about not being able to exploit people in other countries. I’m pretty sure the U.S. is the only country that knocked the leverage down to 50:1.

You’re posts don’t add up, and I think you need to get your head straight.

50/1 is perfect, and you dont know anything about Forex…

Post a trade, im curious to see it play out… Then, let the " newbies" see how good you really are…

Im my 2 years at BabyPips, I have to say, this is the worst post I have seen here… The best line of work for you, would have to be production line type work…

95% of losers blame their pitfalls on everyone else, instead of Learning the PROPER way to trade…

So, like you say, keep trading, we want your money, little fishy…

( Jaws Movie Music)