You make me laugh. Just as I’ve demoed traded stocks successfully before trading real money successfully it will be the same for FOREX should I decide to put substantial amounts into FOREX.
With regards to your doing well in demo then losing in real money, either you are mentally weak and messed with your trades because you couldn’t mentally handle the real money, or the markets changed and your methods no longer worked as well, or you changed methods. If you have good trade rules and you follow them, it doesn’t matter if it’s demo or real. Only in scalping will you really notice a small difference. Larger swing and position trades you won’t notice hardly any notable difference at all and most likely none. But you must follow your trading rules and not get mentally tossed or be weak.
My buddy isn’t stupid enough to lose large sums.
Even if he lost 10% or 20% which wouldn’t happen he’d still be far ahead of you guys trading your measly 5% and never getting anywhere. If all you want to do is make a little money every month supplementing your income, then 5% is great. But if you want to do this full time or get wealthy 5% is crap.
You figure it out. You will learn in time or will die like the rest of the sheep and I will thank you for your monies.
Apparently I’m ahead in the game more than most who have lost real money.
And I actually have traded real money currencies years ago in futures but my partner wussed out on me so we never made a lot and didn’t really give it an honest go because of that. He invested in real estate instead.
I’ve seen most of you repliers trash talk but not one of you has said what your FOREX education is.
I bet most of you have never taken lessons, never read more than 3 books on FOREX.
I bet you also haven’t demoed for at least 1 year of consistent wins before risking real money.
Doesn’t sound too smart to me.
I bet many of you think that bots don’t work.
I know guys that make bots that work great for about 6-8 months racking up profits until the market changes then they need to retune their bot.
Making my own bot is on my to do list.
If no one here is willing to help others improve their trading or share methods, then this forum is worthless.
Why do you need help? You haven’t shared anything but your opinion, in which you seem to think no one around here knows what they’re doing. You couldn’t be more wrong. There’s every segment of the market that lurks around here, from the average Joe retailer, to hedge fund traders, and all sorts of other celeb types. Don’t believe me? For one, just check Rhodytrader’s credentials. In fact, maybe buy a book or two from him.
Here’s my advice. Check out a few more threads.
Try “The Inner circle Trader’s” threads. Or search “Alternative Technical Templates” threads, or Captain Currency’s “Three Ducks”.
Hey Atlantis, don’t feel to bad, I don’t understand the negative stuff either. I wonder if these members are working for a large bank just to get us losers to give them money! They’ve been pounding my Ass to. I personally believe you can make it in this market. I do know for fact that there are a lot of Stock day traders making large sums of money and working by themselves, they don’t have to put up with the boss or clock in to a time clock. If they can do it we can to. The members on this site might be wanting some input from us newbies, like showing them we can make the deal. Let’s show them, we can do it!
I went back, and read your posts, and the responses to them Short of PurplePatchForex telling you the MACD was really not worth spending too much time one, nobody has been unkind to you. (and PPF wasn’t unkind, he was just honest)
To be told that I am a hater, or a negative bitter loser is a long way from the truth. To say the site has no good traders, or any merit, is a complete line of crap. The presumption is only overshadowed by that massive ego. And to think all that big talk is coming from someone that still has yet to put his own money on the line, is more than ironic, it’s ludicrous.
So to sum up, this saying is relative to whom. If a new trader is trading carefully and is well educated (practiced hard on demo), you can’t say he’s gonna lose.
Yes, thats what its designed to do, and it does it very well. The good news is they dont interfere with the forum, or make any real efforts to stop people genuinely trying to help others, and consequentially there are some great threads and sound advice for anyone who is prepared to look for it.
Retail forex is a negative sum game, and the long term failure rate is extremely high. Forums and websites who make their money from promoting brokers, and encouraging people to participate in this endeavour dont need to deliberately mislead, the spread alone is such a huge negative edge working against them that most participants will fail. All sites such as this need to do is provide neutral advice, the damage caused by spread will take care of the rest. There’s no great conspiracy that sites like this are trying to trick you, or make you lose, they are simply promoting and encouraging participation in a negative sum game. Its no better or no worse than promoting a casino, its just a business.
Ironically if a broker, or forum revealed a genuine negative edge, then you could fade it and get extremely rich.
The downside of sites such as babypips is that they encourage participation but provide nothing that will assist in developing a genuine edge. Dont get me wrong, there’s some good basic information in the school, but nothing that will allow you to develop an edge. Some people will take that information and do well as a consequence of survivorship bias, and some will fail. Some will develop discretionary skills along the way, but their success has very little to do with anything you’ll find being officially promoted by a forum.
The upside of forums such as babypips is that they allow an interchange of views, and it has to be said, there are some extremely good traders hanging out here, and some great advice for those who are prepared to dig a little deeper. As far a foums go, in this regard, babypips is light years ahead of its competitors.
I never called you a hater, I just said in effect, that from my previous threads and what you claim to teach on this site, some of your members don’t agree. Only thing is if Fib, Elliot Waves and indicators aren’t worth learning you should tell newbies that. No you don’t claim that people are gonna get rich or make money, you only say your purpose is to make pips, and that what your teaching is good ed for that. Nothing wrong with that. Maybe you should make it more clear that all this education isn’t gonna do them any good. That is essentially what the response was to my views on learning Fib and Elliot Waves. So I am a newbie, I have been studying on this site, take it from me this stuff will not do you any good, so don’t bother learning it. Now I know you can kick me off this site if you want, but since I am an educated person and I have been around a while, and i also know some math myself, I want to give my observations of what I have learned to those less fortunate who may not see what I have seen and observed. As far as indicators and Fibonacci and Elliot Waves and Volume trading, there is one thing I have noticed in all these so called techniques for making money in Forex. They are all similar in there approach. I won’t go to far because some of you will say I am wrong or disagree. But if you look at all the ways of reading charts they all have similarities. If you think I am wrong fine, all I say is look at the differences and there will be some, but as a whole they all have the same goal and work a lot in the same manner.
To be perfectly Honest, I dont care about anyone else in the market but myself. I am completely self centered in my trading. Only my profits and losses matter. Obviously not everyone can lose at any single moment, things that are impossible are not worth discussing. Its just an outlook.
I have no idea where this thread went it got all crazy. But like what i said before there can be an infinite amount of bashing, an infinite amount of lack of confidence or how hard this game is. Guess what for the people where having success none of it matters, or the people here who are on the path to success it doesn’t matter. You know why? because i know what my skill set is, what my results are, and what my potential is. The forum sparring is just a waste of time, there is no reason anyone needs to listen. I don’t usually go off like this but its just ridiculous now. The people that are profitable don’t need to help those who aren’t, it is by the good grace that they try to help here. But to brass tacks, either your a constantly net profitable trader with real money or your not. Since trading is infinitely scalable and using compounding, it doesn’t matter if you started with a mini account or a standard account, once you have reached that level of trading expertise. Then your success is near inevitable.
it’s true that most traders, esp. newbie traders will lose money due to lack to necessary skills and experiences, but the most important of all is that they are not developing their own trading system and strictly follow it.
I don’t understand consistent losing FOREX traders. If you’re not good at learning on your own or from a book, then hire a coach that is successful. There are many on the internet which range in price. An experienced mentor can teach you much faster and better than many people can learn on their own. If you don’t have money to hire a coach and aren’t learning it well on your own or with books, isn’t it time to stop the bleeding until you can try something new to find your edge?
I think it is 90% of new traders, if not more. Being that so many people go into it with a get rich quick mentality, they loose it all in no time and realize that it’s really hard, so they give up. However, in that top 10%, you have a mixture of people that are successful like Hedge funds, part time, and full time traders, who have committed to learning how to do it right. It takes time. And it takes no time to figure that out. That’s the way I see it anyway, and personally, I’m not worried about it. I know that its my career and I’m committed to learning every day. The more I learn, the better ill get, That good old saying, practice makes perfect, is in no way exempt to something like trading.
I see this thread is up and running. There is one thing I had forgotten about, and fell into that trap. One overlooked important piece of the puzzle are the Big Banks, who help move the markets. There are 10 large banks responsible for most price action in Forex. So I believe knowing how to spot there moves is a good area of interest. I am going to add that to my tool box!
People always think they are different and unique in the market, and they can get rich overnight.
one of my friend realized this and divide his money into two part, one half in his live account and he invest the other half into hotforex PAMM half a year ago, and the truth is , the PAMM account earning are higher than his live account.
If it is easy to get the Profits then anyone can make but in reality is does not happen as this is a very competitive markets and we need to be sharp and skillful to be able to become successful traders.
90% of people lose money because 90% of people focus on trying not to lose any money. Also, because they focus on indicators and oscillators. Anticipatory analysis for the win, pure supply and demand!
