5 years experience is not a minor deal. How much can you return according to your balance by using this experience ?
Hi all,
I just downloaded the book - āThe Forex Trading Course by Abe Confasā which I had never heard of and I repeat the title here because it took me ages to find out what we were talking about.
Iāll go throā 1&10 and post some comments in a day or so - Iāll also take a look at 2&9, see if we can get a little momentum going, or whether the book is of any real value.
I think it is a good idea to discuss this and get othersā take on it because sometimes we see things from a certain angle and miss āstuffā which does not correspond to our preconceived ideas
Speak soon
Of course this experience not much, because there is no end of Forex . Minimum 10-15 years experience you can suppose as a rich knowledge to make profit consistency. My monthly target is to earn 35-40 return according to my balance.
How much time you have passed in Forex , itās not a big deal. What was your educational or practice activates in trading itās a main issue. If anyone acquires minimum trading knowledge and does practice account regularly within short time he can be a good trader. To be a good trader how much time you have to spend in here there is no fixed timing. All depends on your discipline, learning and practice activates.
Yes there is no fixed time but we can predict. The traders who are real professional or successful in Forex trading they have passed minimum 8-10 years to ensure good knowledge and experience. I have said that according to this statistic. Hope you will understand. Good luck
[quote=āHadden, post:86, topic:112405, full:trueā]
The traders who are real professional or successful in Forex trading they have passed minimum 8-10 years to ensure good knowledge and experience. [/quote]
So what, exactly, Hadden, is the āminimumā!!!?? Is it "8"or ā10ā or ā15ā years (or maybe even more?)
And where do you guys get these figures from? What statistics exist for this kind of claim apart from forum gossip, random speculation, heresay and āthin airā?
Are you really saying that someone could be losing for up to 15 years before making a consistent return on their trading?
Surely, if someone has not āgot thereā before eight years then they are either broke or in serious need of finding something else to spend their time onā¦?
Trading ability is not conditional on the passage of time, but on the effort and dedication applied to it. Of course, it takes its own time, but the duration is not the key element. It is the effort and the pre-requisites of sufficient capital, a suitable broker, intelligence, psychological profile, research, performance analysis, education, development, etc.
If you just keep repeating the same (losing) approach in your trading without learning or developing then it is immaterial whether you continue for 3, 5,8,10,15 years, or even forever, nothing is going to change.
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ā¦and jus to add to my above ārantāā¦this thread is a typical example of what I mean. It is supposed to be a thread about mutually studying trading books and discussing them and learning from them.
So far, there has been over 80 posts with many people asking to ājoin inā and yet by the 50th post nothing had even started, and so far I am the only person here who has actually posted anything about the book content itself! It is clear that not one of the people expressing interest here is actually ready to do the work for itā¦
If that is the case, then no one should be surprised if it takes a hundred years to ālearnā anythingā¦but dont let me disturb you, just carry on pondering how long it is going to takeā¦
ā¦
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Thank you Manxx for your nice post. Got something new. but I always believe to make profit with consistency is a long term approach. Within very short time there is nobody who can be a successful trader.
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@Hadden Iām sorry. I just want you to clarify your statement for me. Did you say that no one can ever make profit on a consistent basis within a short period of time of practicing? lol
Very simple message I explained. I have never found at any guys who earned profit with consistency from here without passing a long time. Who tried to make money within very short time ultimately became loser. You got it?
If you put it in your mind that its going to take a very long time to be good at something then thatās how long it will take. 6 months of āconsistentā work, can put you 2 years ahead lol I know plenty of people all through my mentor that have studied forex trading for less than a year and have developed a strategy good enough to make consistent profits, but to each is own. Just because you havenāt personally met anyone like that doesnāt mean they donāt exist.
Ok @anon46773462 youāve nagged me into it !
Two āMastersā degrees and seems to have been doing a lot of āTeachingā -
He has been a paid Column writer for a sgnificant time - So heās an Analyst. Whether that means he knows anything about trading - Weāll see 
Chapter 1
Part 1
As you say āFundamentalsā
I donāt trade fundamentals either - well I did once in real life and everything I now own is based on profits from that ! - so perhaps there may be some point ? [Edit - Lesson 1 - perhaps āfundamentalsā does have a place ]
Interest Rates - he shows a chart of USDJPY superimposed on the DOW and says āSee how the USDJPYā weakness causes the Dow to drop. (Well not quite - but similar)
Well Iād like to hear othersā opinions on what he actually DOES say.
- I am observng some anomalies on a couple of the tables he includes, But I am not going to say what they are - until others join in - because I donāt want āLurkersā coming up with drivel when they havenāt read the piece.
So I will ask if anyone else sees what I mean ?
As you say this does look as though it is Going to be a fairly simplistic view, but with a few people actually contributing, perhaps we can take it forward a little.
[Edit - However, in the bits he uses in both chapters that I know something about, I donāt see anything wrong, so perhaps he does know what he is talking about ? - weāll see ]
If we could get an analysis group going and working, maybe some more difficult concepts later ?
Anyway, āFairly simpleā is a good place to start for ābabypipsā Nāest ce pas ?
To develop a trading strategy with successfully minimum 1 year we have to pass but donāt know from where you get confident to make sure good result within short time. itās okay. not more argument and good luck. Happy trading
I thought Iād wait a few days before replying to you - just to see what other responses there might be. But, as you see, there is more interest in pondering how long it takes to become a trader than actually doing something about it. 
This was not, at least in my opinion, a very useful book, but we could have done any other one from those suggested earlier.
So I think the conclusion has to be that in spite of the enthusiasm from you and I (not that I have anything to say that is worthy of reading, anyway!) this project really is dead?
Probably people just prefer to do their studying in their own privacy and just raise selected issues here on BP as and when they arise - which is also OK, of course. 
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You can do and achieve whatever you want lol happy trading to you too
a very good collection indeed. how you are trying to gather knowledge about forex market is quite incredible. why not try your learning in a demo trading account so that you can check your abilities to handle trading!
I would be interested too
Sorry Mate , I donāt have at any power which can make me successful within very short time. I need a lot of time to develop my trading strategy with money managing plan.
I donāt quite think the same way. If I want to do something before within a year or less, then I will make sure I plan my time in a way that will help me to achieve that. But i wish you all the best and much success in your trading.
It okay , Thanks. Can you ensure personal trading achievement that you achieved very rapidly ? I need to learn , because in Forex trading I never acquired at any things within short time.