Broadly speaking, for every winner there is a loser in forex. But with technology advances, free resources and information, competitive brokers and platforms the losers who most likely are beginners are becoming more ruthless, sharper and astute which means that there are still winners and losers but the winners are winning less. So does this mean that for the average Joe out there, who is a full time successful consistent forex trader … he’ll be making less money and can’t rely on forex for a living…? Thoughts?
Where are the stats that say winners are winning less, and that beginners are more ruthless, and sharper?
Everything I see tends to portray a picture that is quite the opposite of those statements.
Most beginners can’t get out of their own way, and risk far more than they should. Not to mention, they are generally very ill-informed about the inherent challenges they face.
It’s a pot-of-gold-at-the-end-of-the-rainbow tail chase for the general retail community.
You see it on here all the time about large noob accounts getting their pockets cleaned out routinely because they haven’t caught on to the game. They assume it will be a cakewalk, and don’t take the time to really study the actions of trading, or the market movements.
I see this like MT. And with all the new technology, if you would let trade a trader from a hundred years ago and via phone he would even beat the most guys with all fancy technology. The key lies in the skills, patience, motivation, … you name it. Technology changes, people hardly change. And then I do not think that all this multimedia hype has any advantage over good old books if it goes outside entertainment. I use the internet primarily to read like in a book and to communicate, but rather seldom for videos, etc. etc. So, I have learned to grasp a new concept without all those fancy gimmicks. It lets me focus better on the heart of the case. Google is really a nice thing and I am wondering very often that people ask questions here and at other forums which I can google in a second without any help from others. So, with all the new technology there seems rather to be a tendency for younger people to become, generally spoken, more lazy. And I doubt this makes better traders.
I have no stats to backup my statement so I’m not going to make some up for the sake of it but I see how things have changed. About 7 years ago a friend lost close to £7k on forex. He was a complete newbie, thinking he could make thousands. He recently commented that had he been in the same position today he would have not lost that much because there is so much resource available to learn. The forex brokers provide training, free seminars. There are forums, free education sites … Just think what will be available in another 7 years. People are more careful with their money these days, sure you will always get the amateur who blows an account, but my point is that it’s going to get more competitive and a lot harder to make money, surely…
Is he still trading?
If so, is he successful?
There are thousands more just like him that sign up every day, and lose their asses.
There will be a good percentage that are cautious, but the majority will go on being undereducated, and overconfident.
There are mighty big building in Vegas that are built on the same principles.
So in this case, one to win someone has to loose? what about if everyone will eventually follows the rules and tricks of winning?
Did the Bank of Japan follow the rules of tricks and winning in their intervention last september? No, they failed and gave billions of dollars to the market specs. When the big boys mess up, there is food for hundreds if not thousands of SMART trading accounts being traded by operators with an edge and the discipline to exploit it.
If any of us believed that we are doomed then none of us would be here trading and when 4 trillion dollars change hands every day I think I can grab enough of it without having to worry about a lot of other traders being better than me. If it were a perfectly efficient market then all price action would be flat horizontal. As long as it continues to go up and down you can win trades.
Doomed I tell you Doomed, soon the Illuminati, CFR, Bilderbuggers, Trilateral Commission, and Disney will force a world currency, and there will be no more foreign exchange trading. Why do you think there are Chem trails and those weird markings in parking lots and on interstate signs, these are to prepare for the black helicopters and suppression troops. I have to go now and change my aluminum foil underwear.
The Never Worrying About The Market VIPER
Oh by the way I agree with Talon, even though HFT and Bots are prevalent, the large size is generally executed by a human, this means, in this context anyway, it is still human vs human.
I hope your kidding 
Maybe if they are all like USD/JPY or trends start to break up in many of the currencies yes.
The longer trends are what make it easier, for day traders yes it will become even harder if its hard for the longer term traders.
He is part time trading and in profit now, having dedicated a big chunk of time researching and learning.
Well, even then you could bet with a option on egalized price, lol.