Are retail traders fooled?

Beginner Questions
1

That is fun, but the more i’m doing researches in this business, the more questions come to my mind. And it seems like nobody care about it.

It seems like everybody around here (in this forum , but also on others, on videos, on books ) care about:

  • not taking more than 2% on each position a.k.a MONEY MANAGEMENT IS THE KEY
  • being disciplined and taking this sh!t as a real business, not a hobby or a distraction a.k.a PSYCHOLOGY IS THE KEY
  • finding an edge … but who the heck has an edge over there ?

All i see is talking analysts saying that " the market will go down or maybe it’ll go up … or maybe it’ll range " , then going back to their offices to read their mails, before going back to their rat race.

Everybody is saying the same everywhere, but it seems like nobody’s rich.
Yeah yeah i know bro, psychology, money management, patience. Oh wait… everyone’s already doing it but they are still going to their pathetic day job and all they do is nothing but talking the same old stuff on the forums.

The forums are FULL of guys sharing “winning strats” but their threads are disappearing mysteriously 1~6 months later. But at this time, newcomers will be there to share new winning strats, and the wheel(of the rat race) continue to turn.

" yo this strat is making XXX pips a day / month during 1 year … .actually its just a backtest i’ve never done it for real :smiley: "

Guys why are we here ? Because looking the charts are fun ? because its damn cool to see candled!cks going up and down all day long? because you are just looking at the charts 1h / week so you can dream about escaping the Rat race , without taking any serious actions ?

We are here to make bucks bros. It’s fun when i see people saying stuff like " i’m not here to become rich " or " i love my daily job " so why are you losing your time playing this game ?

Serious traders are here because they want to do this full time, they don’t want to go another day of their life to their stupid day job. They want to travel the world with their family.

We are here because we BELIEVE that trading can bring us financial freedom.

But are we really TRADERS ?

Are pro traders trading like we do ? do they look at MACD or RSI, or MA CROSSOVER ? I admit, they actually look at major S/R.
But do you think that the only strategy of a billion dollar hedge fund, is to look at support and resistance ? do you think they are making millions with that ?

Seriously guys, the time has changed since market wizard, market ain’t the same anymore cuz now its driven by machines, HFT.

Bank traders are not even doing the same thing than we do…

I’m not saying that it is impossible to make money out of this market but the retail trading business is suffering of a LACK OF INFORMATIONS.

PLease look at this video:

BNP Paribas CIB - Trading Day - YouTube

See this TRADER ? do you see him drawing stupid trend like ? or seating here, talking with the other hot blond female trader, waiting the stochastic to be overbought ?

What the hell are all theses lines on their screen ?

Why don’t we have this stuff ?

We are all doing the same thing and we are all losing !

Please go on youtube and write " interview trader " .

DO YOU SEE ANY SUCCESSFULL RETAIL TRADER ?

Please, i’m not talking about this " awesome forex strategy on my website !!! " .

You could only find :
1- guys who are running a website / selling advices / doing some stupid " market analysis "
2- guy working in the bank, with no single chart on their screen. Actually you could see a chart. Yep, taking 1/4 of one of the 4 screen the guy is looking at. Other screens are full of lines whose fonction ain’t explained neither in " trading books " nor in the school of pipsology.

Seriously do you think that these guys are reading " trading books " ?

Each time i hear about a successfull retail trader , he is selling something.

Actually InnerCircleTrader is the ONLY GUY who’s saying he’s successfull, giving free advices, and selling nothing. I HAVE NEVER FOUND ANOTHER GUY LIKE THAT ON THE INTERNET. Now, i have never seen his bank account…

Please tell me what’s going on.

Is it really possible to make monney with the forex ? do you PERSONNALLY know someone who has successed in this business as a RETAIL ?

Please don’t tell me " GEORGE SOROS " … he’s everything but a retail trader…

I’m talking about ONE GUY who was like you and me, put some money on the market, did technical analysis ( IE: drawing trend lines and stuff ) and became rich with that.

I’m talking about a guy who can use a profitable strategy, over the time, without enormous drawdowns, without overleveraging, who is not selling advices or forex seminars.

I’m just asking my self if us, retails, can become rich in this business without gambling / overleveraging / having mass luck.

Thanks gentlemen.

2

Umm, Vent bro, vent

I aim for 5% a day, and I get usually that.

This week, Im 13-0 and up 10.8% for this month, well, since open yesterday…

I dont really give out my info, because what I do, I cant each… You see, I got SWAGGER…

When I trade, I trade to WIN, Im not your normal trader that looks forward to a loss, I try NOT to lose, I practiced, NOT TO LOSE… Losing isnt OK to me, it means I just lost freakin money, and who the heck wants to do that?

Yeah, psychology, money management, patience and GUTS to go heads up with the market, and be confident your going to be on the winning side when the dust settles…

You know how many books I read ? 0
You know how many web-in-ars I sat thru? 0
You know how many questions I asked? Maybe 3 ( in 24 months )
I spent Nothing on courses, and the most I have lost was $115 to learn the best paying career on the planet.

You see, Im not trying to make a replacement for lack of employment, Im trying to Make freaking Billions.

Im passionate about this business, I take it seriously, and Im not investing this time to make ends meet, I want the world.

Are retailers being fooled? Sure, without a doubt. But you alone cant beat the system, you have to take what it gives, and hit it hard and swift, then wait again.

3

http://forums.babypips.com/free-forex-trading-systems/29902-technical-templates-continued.html

Have you read and studied the thread linked above? If not you should. Go through the babypips school, read, study, learn the methods in the tech templates threads and you’ll have what you need to trade successfully and profitably. :wink:

Edit:

If you’re questioning the tech templates OP’s credentials, take a minute to read her bio.

http://forums.babypips.com/q-corner/43863-featured-women-forex-traders-marchs-picks.html#post335526

4

Thanks a lot for the links d-pip. You rocks… :smiley:

5

There are winners here. :slight_smile: You can bet on that. But without any digging you won’t find anything.

Also, what point is there to be concerned about what others are doing? Do your thing, make money, move on with life. Simple :slight_smile:

6

Of course here people are making money.They love to go their day job because they love it and they are happy with this market.Even there are people who have been consistently making 25% per month since a long term but most of them don’t like to share it because some of them are humble and some of them don’t want to share their million dollars strategies.

7

Doesn’t add up, should that be 108%? 5% per day, slow month? From your attitude I don’t think your aiming for 10% a month, just curious.

But I do love your attitude, you don’t get into forex to make the same profits as you would if you invested in a good unit trust, you wanna be aiming for what’s possible, absolutely right, but some months you can make 100%+ other months can be losses even, and you’re right about losing, you can accept losses as part of trading, but you don’t have to like it, as long as it don’t affect your trading, it’s juts like having a bad day at the office, you just accept it as part of your job, but you don’t have to like it.

And yes retail traders are fooled, hey! Professional traders are even worse, look at the state of the markets, look at the state of the banks.

I tell you, successful retails traders though, are the best of the bunch, the creme de la creme, a pro trader can lose fortunes for his company, a retail trader doesn’t have that luxury, we really are at the coalface.

@insidertrading, how long have you been ‘into’ forex? if it’s still bewildering after about 6 months, then that’s quite usual, it took me more than that to string 2 profitable days together, used to be one of these that just has to pull the trigger, I still do the odd one, and it makes a knock my profits, but each month, each year I have got better and better, I’m sure I have some more to learn, not much by now, simply due to the fact that I hardly ever come across new stuff, oddly enough though I just have and it’s a couple of things there that i can add to my set of tools and will improve my trading even more.

Let’s drink to that first billion guys.

8

I feel out of everyone here, I troll you the most… I don’t even know what to say to this one anymore. Lmao, just going to sit back in my chair and smile. :slight_smile:

9

You must be one rich man… :53:

10

I’ve seen this guy come from post #1 to where he is right now. Lol… He’ll get there…

11

And may I ask where that is? :54:

12

CLEARLY making 5% a day just like his original goal!

Edit: No wait, I think his original goal was 10%/day? I forget

13

40% a month :frowning:

14

Yeah, it was 10% a day some time ago. i do have days I hit 10%, like Friday, i was up 13%.

But I settled for 5% because Im consistent with that amount,

Slooooooow day today, thats for sure…

15

:60:No, it’s real busy day for me, I hit 100% just messing with you MNVR! Nice to hear from you that you’re on the right track!
keep up good work!
money nevergiveupss!

16

LOL, good stuff Never,

Im chippin away, keep rockin it yourself Bro,

17

To the OP. Your youtube vid is showing how professional traders trade. It is in no way shape or form how retail traders trade. You must remember that the vast maority of the daily $4 trillion traded is pegged to long term fundamentals, contracts and swaps to cover ‘humungus’ commercial contracts (think Airbus and the like) or simply to move money around. The few hundered mill left over you could attribute to hedge funds and the like and of course retail. These are the only guys looking to make money purely out of the moves short term. I’m not suggesting that an opportune time and or price is not factored into buying decisions of pro’s but its just one factor and seldom the only one. :20:

18

and by No means, is it easy… 12 hours today to get my 5%, alot of chart time today,…

19

And I put in 18h a day (ahem… well not exactly, but I monitor my charts over that figure daily) for around 2.5-5% a week… so you must be doing something extordinarily well or over leveraging? :smiley:

20

I use alot of margin, risk around 60-70%,

30-1 this week, and the loss was a PC Lag or my mouse, and less then 1 pip…