Very very true. 
Cheers
Blackduck
1 Like
So my question to you is; “If forex is sooooo bad and a complete scam what are you doing on this site??”
I know you are waning people about how bad Forex is and how we are a bunch of mugs for attempting to make money but seriously, if you think it’s a scam look for other investments and move on.
Cheers
Blackduck
If you think this is so, you are right. If you think this is not so, you are right. You become what you think. And nothing will stop me saying “if I were any better, I’d be twins”. Lovin’ it.
1 Like
It seems like trolling to me… He thinks stock are a scam also, so it seems obvious he is venting. It’s fine, but he will never make money till he admits his mistakes and moves on. He chose the broker, the trades, the leverage, and therefore decided his own fate.
1 Like
You maybe right. I and a number of other traders on this site successfully make money so the premes of his complaint is false.
Still failure is a bitter pill to swallow.
Have a great day
Cheers
Blackduck
1 Like
No one said that forex is an easy way to make money. If you actually believe, then you are wrong because it easily tell you that you did not prepare or read anything about forex trading.
Forex can help you in improving your knowledge, increasing your determination, improving your sustain over controlling of many factors and so many other thing.
It is always those people who made the losses, flipping out and attacking on forex being a fake.
1 Like
Obviously you got burnt a lot more than you ever imagined. You say forex is a lie. That’s your opinion. Now, remember that a lie does not just come out of the blue. Someone must have told that lie. Who, and what exactly did they say to you, that made you believe that it is a lie?
From my point of view, you were sold the perspective that forex will make you a lot of money in no time with minimal effort. That perspective became a belief, which in turn blinded you from the truth that can ever be present to you regarding forex trading. So, you went in with a gambler’s mentality, except that this time you are not rolling a dice. This led you to trading what you believed, not the truth. You failed to understand the difference between a belief and the truth. Your mind expected what you believed, yet the market only took care of it’s own truth.
Come to think about it. For you to buy anything in any business, there must be a seller on the other side of the transaction. When you buy a currency pair, someone is selling it to you. When you lose, it means that someone is deep in profits. Now, you say they are out to get your money? If the market is out to get your pennies, don’t you think it would be losing money on the other transaction on the other side of your trade? Look, you are not the only market participant. Imagine a broker or whoever you say is out to get your money, chasing your $100 yet there are millions of other transactions worth millions of dollars, on the other side of your bias that would be making a profit in the process.
You did good by getting out while you still can. Not because forex is a lie, but it is just not for you. At least not yet. You need to understand what you are getting yourself into. Forex trading is simply a game of probabilities. I am glad you seem to know something about probability since you said something about tossing a coin. Trust me, in trading even tossing a coin can be a painless but profitable strategy you can ever employ. It provides you with a breakeven (50/50) win rate, which a lot of profitable traders only wish they could have. If you combine that with a positive risk to reward ratio (RRR) you would come out profitable in the long run.
Patience and discipline is also important. Maybe you were not disciplined enough to follow your trading plan, if you ever had one in the first place. You said something about trying to get your money back. That alone is an obvious evidence that you did not have the discipline to trade consistently with a premeditated action plan. You revenge traded, which is a fatal practice
To sum up the whole mumbo jumbo, the lie you are talking about is your belief. Not forex itself. You need to look at the truth, which is what the market is doing in real time. I hope you did not give up completely, because, all you need is to change the orientation of your perspective.
10 Likes
That is so true. It is so shocking how people are super disciplined when it comes to their 9 to 5 jobs, but can’t apply it to trading.
1 Like
In what profession, one is profitable in the long run?
How many professionals do we have in other fields who are making “a fortune”? Most of them barely support themselves and feed their families. Except those who practice hard, pass exams, get training, receive certifications/letters are able to climb the stairs toward great success.
1 Like
It could be a BlueFX advertisement as well. 
Trading alongside the forex / stock / commodities markets is not a scam, its just incredibly difficult to a) survive, b) find a profitable strategy, and c) remain consistent enough to enjoy the profits.
1 Like
@tommor Anything you try you’re lucky to have a 70% winrate even with an inverted 1:2 risk-reward. Judge for yourself.
@ajbozdar Is free. There is no link. I have nothing to win. Just wanted you to lose in backtesting rather with real money.
Its mathematically possible to make a good living from unambitious targets of these types - say, a 55% win rate and 1:1.5 r:r. These are not big numbers for any strategy, so there must be many strategies around which can achieve these. So the problem isn’t finding a strategy that works, its deeper than that.
I have a 2014 mercedes C Class in my drive way… paid by forex
THIS GUY is a prime example of what not to be:
A) he metions stocks are scams; Mr warren buffet is laughing
B) he metions the tools are scams; I was taught Price action! Ive never used an indicator. So Clearly he hasnt learnt the basics which is PRICE ACTION
C) He says the fundamental news are pointless; but if he was a half decent trader, he would of bought (any!!!) Major pair! Or Any Indices that crashed to 2008 levels because guess what! Every smart trader bought at the 2008 Lows in march and now we seen new highs for indices such as Nas100, Us500 and even comods such as GOLD!
And the best part!
He mentions he pours money into forex like a slot machine ans chases losses!
Clearly hes gambling with an under cap account and is trading like a casino player!
Forex is profitable, once you treat it like a business.
But end of the day, we need losers otherwise money wont flow ;)))
2 Likes
Funnily enough I deposited exactly 100$ last time (lost 84$ from them in 1-2 weeks). That still doesn’t change some things. Against what others said, I indeed studied forex, on BabyPips alone I finished 90% of BabyPips school (all chapters). I denied at first, but remembering my trades I indeed went ‘full-rage’ mode, traded as a gambler, risking from 20-50% each trade. But also tested my theses on a backtesting program (BlueFX) not only looking at a chart assuming I’m simply right sometimes. And almost everytime (70-90%) it ended in markets favour. Almost always regarding the trading situations I was beaten/ turned down constantly by markets.
Edit: and sometimes it was really really bad. The callousness of them surprises me. Worst part (although is supposed to be good), it wasn’t even with real money. That was during backtesting. Imagine if that was real.
Blockquote
About delusional and lies parts, I don’t really know. Perhaps some people told me that (although I don’t really give them importance and I am able to judge for myself what works or not), if I see something is good, it doesn’t matter what others say. But when I notice myself some things, things turn. Most likely my own mind maybe (told that “lie”), it came by its own. And it looks like that.
Even if you are profitable, the broker can cause a lot of slippages and spread increase (so much that even 100 pips stop-loss may not be enough), and blame it on “market conditions”. It can sabotage you through means completely out of control. That by itself will always keep you in losses regardless of your strategies and trading accuracy, unless you have at least 200 pips stop-losses for every single trade to make 10-60 pips profit maybe (assuming the worst market conditions and trading opportunities numbers).
So, when you take this, and add them to what I said above (all my replies in this thread/ thread itself included), forex is really a bad world, if not a scam. Although I’ve noticed some people here giving strong arguments and unexpected positive and rare answers (in forex favour, surprisingly, it looks like there are some people profitable from trading without keeping ultra-rare-institutional secrets), you can see them yourself here.
But I still tend to stick with that ‘lie’. If you are too profitable, there are high chances that your broker either turns against you, gets you banned, or sabotage you. Slippage and spread increases as I told, perhaps widthrawal problems. All sorts of problems.
They are real. And people faced them. I’ve heard that even if the brokers are “regulated” you still have don’t any chance to do anything in case of fraudulent actions (if they brake their policies neither Cyprus, FSA, or any regulator body would do anything), just like police (sometimes, if not more often than not), a lot of anonymous small people being taken for granted by the institutions and no one does anything.
Still I’m aware what I said can’t cancel what others said. People without selling absolutely anything said they made money trading, some even that are making a living out of trading, which I really haven’t expected at all. That really surprised me. So there is more to what I said, other sides of the story. Not only my assumptions.
Lol you have no idea how brokers work!
Brokers put you in 2 piles
Winners and losers
When you lose they take your money
And they copy the winning trades aka hedging!
Seriously you are very uneducated and this post of yours is nothing but a loser trader venting.
Good luck with your 9 to 5
10 - 60 pips in profit? Hmm
From that I assume your day trading, which for the umpteenth time is the biggest reason why most traders fail.
Stick with end of day and see your results improve dramatically
2 Likes
Check out the first ten richest men in South Africa, a Forex trader fall on the 5th spot. What’s his secret? He discovered the financial market in general, venture into stock for sometime and got interested in Forex in the long run. He trade the financial market then invest profit into real estate, crypto and back to Forex. Forex made him and investment kept him. So if you believe Forex is a scam you are absolutely correct, you control your mindset so you have the right to believe anything. But be careful not to corrupt the positive minds.
1 Like