There is a lot of debate about the percentage of traders “who don’t make it.” However, what is true is that this number is substantial and proves the nature of the market. Therefore, do not place your cards without quality research.
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he is probably quoting the salary of a teller in india, which is probably somewhere in the $200 to $300 per month range, perhaps a bit more or even maybe less.
That is why it is important to trade with the banks. You can be very strict in your trading rules and with your emotions. However your strategy also needs to be profitable. Most of the typical retail strategies just do not work. The banks are not watching candlestick patterns and looking for this ema to cross this ema. They have an automated trading system. Not saying candlestick patterns, ma’s, etc. do not work. They can, but you need to look below the surface to see what they truly mean.
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[Removed for Forums policy violation] We look at all those who started day trading in the Brazilian stock futures market, which is the world’s third-largest in terms of volume, between 2013 and 2015 and kept going for at least 300 days: Only 0.4 percent made more than a bank teller ($54 per day) while 97 percent lost money!!!
Not sure about the percentage ! But a lot of new traders lose money in forex. Most of them are new traders who do not come with realistic goals. The forex market is a serious business; therefore, without studying and analysis, we shouldn’t start trading.
This is great to hear about! Persistance and learning your lessons! Great job! This is inspiring!!
Woops. I just saw how old that post was…haha
It’s still very encouraging.
What do you look for? What works for you?
As for me, I watch the candles.
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You need to watch where the buy stops and sell stops are placed in the market. So basicly where do the market makers grab liquidity? Above old highs and below old lows. Does price stop hunt there and reject or does it truly break it? Price moves from one area of liquidity to another are of liquidity. This happens on every timeframe.
Candles can help with this of course. Do we get full candles, wicks, etc.?
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Yes, it is true that a lot of traders lose money in forex. Most of these traders are new. Indeed, around 90% of traders quit trading within one year. Forex seems tempting, but you can’t expect to make money unless you understand the market.
candle patterns will not produce predictable next moves.
similar to how people think that moving averages and the basic indicators work to predict a future target price, they dont.
similar to how people think that backtesting is some kind of proof that a trading system will be profitable in real time live trading, it doesnt.
if this business of trading were as simple as that, all math majors would become rich traders, but they dont.
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i am so pleased to read this… it confirms what i already know to be true…
money management does not make a strategy.
This is the bitter truth of the market. Only fact is that you need to do daily analysis on charts to get things out and works like your way.
Not if you read the candles as volume. A simple star pattern, hammer or whatever will not do it. You need to understand what such a candle is doing at a certain price level. Is it stop hunting for example?
you are dreaming.
i am a programmer with 38 years of number crunching experience and i can pretty much promise to you that candle patterns are RANDOM and do not in any way indicate what the next chart move will be.
not maybe, but definitely.
if chart patterns were tradeable, omg, do you know how quick a programmer like me would store a table of chart patterns and then write a program that figures out that if we see such and such pattern that the price is going up or down?
come on man, be serious.
It makes me profitable, so I will continue dreaming 
Though putting emphasis on the pattern is wrong. This is not what I mean. The pattern is fun and games, but what is happening around it is important. Banks do nor care aboutcandles or patterns, but they can still give us clues about the order flow
yeah, i watched your $2900 thread topic where you made one tenth of one percent in a week, and then i realized that that account was only a demo account and then you claimed that the $2900 account belongs to one of your students.
it was a demo account, and smlfx doesnt know how do i know that.
LOL.
omg… please tell us all how it is that you know what banks care about and dont care about.
i am all ears.
Oh wow you are all knowing without any proof. So quick to judge me you are as well. Little bit anger issues here and there.
It is not my job to humble you, the market will do that by itself. If you are not willing to learn from it, then that is your problem.
Good luck with becoming profitable 
i am not judging you.
in your $2900 thread, i asked to see the equity curve from a detailed statement and you agreed to show it but you never did.
i know that that account is a demo account.
go ahead and lie, but you aint lying to me.
it is a demo account.