Seriously does anyone make a living off this?

Beginner Questions
130

Z Apprentice,

Yes 95-99% wins thus far.

God send me straight to hell if I am lying.

I’ve been making a couple of hundred to thousand pips per week with virtually zero loss.

Yes, I know a couple of months back I would have never believed it either.

If people really want to win, they must think outside the box.

They must ask themselves this VERY VERY VERY NOT TO BE UNDERESTIMATED QUESTION!

Why do 95% traders lose?

Do YOU follow the herd?

Winning in forex depends absolutely upon that statement above.

131

Xtreme,

I’m not quite sure I understand your question…

Do I follow the herd?.. hhhmmm… I don’t know… I know that I have my own proprietary method of trading, that I freely show on my blog…

I use price action and support and resistance zones, w no indicators… and trade breakouts…

So, I guess in some ways, yes I follow the herd… but, in another way, no I don’t think I do…

But, one thing you will quickly learn about me… I am very humble, yet, I have been trading for over 20 years… so, I have been around the block once or twice… and the markets have humbled me more than you can imagine…

I do have a lot of respect for anyone that can unlock some keys that work for them… However, the test of time is a very tough test… So, flash in the pan things come and go, imo.

I’m glad that you have a “bot” that does your trading for you… I have shy’d away from “robots” doing my trading for a variety of reasons… But, I do understand that for some folks, they are ‘the cat’s meow.’

Another thing about me… I am an open book… I have no secrets… there’s no reason… All of the knowledge in the world already exists… I have discovered some, and there is a vast universe of knowledge that I still have yet to learn…

I am always open to learning, and adding some of my years of experience to those who seek such…

:slight_smile:

So, you gonna spill the beans, or keep dancing?

132

I respect your 20 years of experience.

Don’t get me wrong, I’ve been regarded as quite humble in person.

As for the herd. Think about what the HERD does. Once you have identified what the herd does - DO THE OPPOSITE. Because the 5% of people that do win are obviously NOT doing what the 95% (the herd) who are losing are doing. When I say opposite, this does not mean you just simply take an opposite trade/direction - not even close.

You examine the [B]reasoning[/B] behind the majority strategy - declare it to be false i.e. herd strategy - then go opposite.

Unfortunately, because this forum is monitored by hundreds of people, I can not spill the beans here at all for obvious reasons.

134

Xtreme,

I’m new here, so you are kindly going to have to show me how to PM on this forum…

:slight_smile:

Apparently, I can’t post my email address… so, being and old duffer, makes me a little slow on how to do some of these “fancy things” like PM…

:slight_smile:

135

Don’t worry. I’ve retrieved your e-mail address from your blog.

I have checked out your blog and read the story about Z. I have alot of admiration and respect for those people who have been trading for 20 to 40+ years and believe they have alot to share, particularly those who have been trading from the pre-internet trading days. I am sure there are many profitable/working methods beyond my own so like you, I am also curious to see the variations in logic and reasoning behind successful systems to see if there are any parallels in my thinking with somebody else.

I just believe my method examines forex from a completely different unheard of angle, since browsing through these and many forums I have never come across a strategy or idea that remotely resembles mine whatsoever.

I will be contacting you shortly. There are a few things I DO like in your blog about where you mentioned the % of ranging versus trending. This is very very warm to part of what I do.

136

If any of you can bring in $3,000 USD/month by trading forex, you should consider moving to Shanghai.

You can live pretty damn comfortable here with $3,000 per month (comfortable not RICH). That’s how much most experienced manager’s here make.

If any of you decide to come, I’ll show you in the ins-and-outs of Shanghai for forex lessons =)

137

Just had to add to this old thread. I usually frequent another forum/site. The OP looks like had concluded it’s mostly a scam and that a lot of “making a living” traders here are plants from brokers in disguise. Just wanted to say, 99% of the pay for education stuff out there are indeed ripoffs. I spent 2 years trying to learn to trade and not only forex and I couldn’t believe how many scam baked education packages I came across and cost me money. What people may not realize is how many are trading now. According to the numbers, tens of millions of Americans are online trading something or another. So it could be 1 in 3 people are trying this and you wouldn’t even know it from your neighbors because finances are culturally personal. we don’t live in a communist state, at least not yet. No one’s going to show you a working method for free unless it’s family or friends. I’d recommend going to forexpeacearmy.com and use their free reviews of forex education and sites of which they’ve got hundreds of reviews. Sure some of the reviews are plants, just like a lot of amazon reviews, but you can tell there are some real individual reviews which can be sifted out with a discerning mind. The truth is out there.

138

Out of one in three of the people who might try this. maybe 2 percent are willing to actually learn it, and do the homework.

This gig takes time, and dedication, and a certain set of mental skills.

You have to be a risk averse.

You have to have a realistic perspective on what you might earn.

You have to have a lot of self confidence.

You have to be willing to admit you are wrong.

The honest truth is, every system, and every person that makes a call is right.

If two people voiced their opinions on the euro, and one said, “it will hit 1.4500”, and the other said “it will hit 1.25”, there’s about a 00.0% chance they are BOTH right.

The only question is one of timing.

Will it go to 1.45 first? or hit 1.25 first?

139

Yep, I live in Cambodia, where EVERYTHING is cheap.
Beer, food girls etc.
2000 quid a month is plenty.
Buys cars, home help, bed help.
Easy.

140

I often think that there are alot of dealers and brokers spreading misinformation on these forums.
It because there is so much bad info on these forums.
BTW.
If I had the “grail” I wouldn’t tell you lot.

141

This is so very true.

142

It’s might even be that telling you that there is bad info here is indead bad info.

143

If you want the key to it all, you will need to be able to tell the bad info from the good.

Are you able to do that ?

144

I,m not able to do that.
Then again I don’t try.

145

Yea well…if you want to go upscale then you should move here to Singapore.

With a monthly income of $10,000…maybe from forex trading…you can live comfortably just above the poverty line.

You’ll get the basics but would have to move around using public transport.

146

Think I’ll stay here.
The beach is clean and chicas are friendly.

147

Ok.

I think that once you get to making money constantly from forex, it will take away all the fun.

It was so much more exciting when I was losing money.

148

more exciting when you are losing money ??

I’ll have to go away and think about that one :confused:

149

Forex ix not that interesting.
Talking about it is ok.
BTW, I never found it fun, pays the bills.

150

certainly emotions are a bad thing in trading!