Giving up the pipe dream of making a living in Forex

Trading Discussion
16

pipmehappy, i think it is a bit harsh to call those “bullies” who ask thread vendors if they would supply a myfxbook.

perhaps you are too trusting by nature. but people do lie and stretch the truth out by alot. i have been duped once in the past by someone on here who seemed profitable …
my experience is likely not unique. now many users have grown more wary about just jumping into topics attempting to teach and guide others.

pipmehappy. i am going to use metaphors here …but what you tend to get on forums such as these is a load of yellow belts masquerading as 5th dan black belts claiming that they can teach others how to become black belts

if you don’t ask the right questions to some of these people you will end up being trained to yellow belt standard when in order to be making profits you need to be black belt.

then you go out into the big wide world as a yellow belt who thinks he’s a black belt, …thinking you can hold your own to other black belts [Anton Kreil, Al brooks, …etc] , but when the push comes to shove and the sh1t starts to get real you find you can’t hold your own and ultimately time and time and again find yourself beaten up in the alley requiring urgent medical attention [account top up]

the black belts wait for you to heal up [replenish your account], then over the next few months you get into a few more scrapes with them until again you are needing urgent medical attention…

and the cycle just keeps repeating itself, even if you give up and never come back, because there is always a fresh wave of other new yellow belts coming in thinking they are black belts…

I get that you don’t like seeing “friends” being suspected of lying and wish to defend them but i hope you are not letting any friendships cloud your judgement. Just because i get talking to a guy named harry whilst waiting for the number 12 bus …and he seems like an alright chap and a bloke i could see myself going down the pub with doesn’t mean i’m going to automatically believe him when he says he a professional basketball player for the NBA but the first time he picked up a basketball was two years ago.

I’ll always be that bit skeptical until i can see some hard evidence.

I’m assuming you like most other people got into forex with the goal of making money and a better life for yourself. friends imo are just a bonus.

If harry is offering to teach [and god forbid actually charge] don’t be afraid to ask harry to see more than a slam dunk.

treat forex as a business not a social club. and i say that in the kindest possible way.

17

Ultimately, some people take these forums too seriously… People on here come and go all the time, and if older ‘resident’ members want to share their experiences and are having some positive results, no amount of doom-talking will change the fact that they are happy in their lives and maybe make a bob or two on their trading account… We need to lighten up on here! Let’s take trade-talk with a pinch of salt and accept that we will never get to ‘prove’ or not if someone is or is not a ‘successful’ trader…

I am happy to believe that some people on here are genuine, because they are not here asking for my money, my address, or to brainwash me: I trade with my own style and around a full-time job…for fun… Yes, I may make a bit of money, but, like PipNRoll, I also love my main job, so trading is something I do for fun…I have not blown up any account yet and I trade small money…I like telling others about it not to con them or because I pretend to be some sort of finance guru, but because, as GP00053 was saying, if you manage your risk accordingly, there is no reason why anyone could not be successful at it…

:))

18

Very nice post defiance888 & a point well made!
Newbies seeking validation from those you refer to in your post is a long overdue default in my view. People, newbies especially, deserve total transparency & the more exposure this subject gets the better for all concerned.

Hopefully it will expose the time wasters & egotists & encourage all concerned to conduct more effective due diligence before investing their time & effort in these instructional threads.

I have scouted the forum before seeking publicly referenced fxbook or equivalents from these high profile posters but haven’t come across any at all. Perhaps it’s high time they began including them so members could judge whether or not they were worth paying attention to, because as you say there’s far too much kidology & low quality advice being dispensed from these senior members on here.

19

Yep, that is true. The fact is, it is difficult to make your ultimate goal of maybe 15-20% a month if you cannot even keep or achieve a 1% a month. You have to start somewhere at the very minimum or as an " internship/entry" level. Do not expect that you will start making money right a way. Any business started small. The first 5 years is a tough one to build, to sustain and to maintain. It is no different when you are trading. But there are a few exceptions that someone can starts, in about 2 years , with 60% plus ;).

Although, You do not set for less either. If you can make a lot more by all means do it. However, with the attitude like the OP , I think it will be best to start on a very minimum and bring that feet on the ground and start to focus more on the strategies and gain more knowledge before thinking about the rate of return or maybe it will be best for him to just let someone else take care his investment…

20

Once you gain more knowledge and confidence of what you do, I think it will come to a point where you will seek other venues where you can learn more. BabyPips community is a great starting point to anyone but I have come to realize that a lot of good folks cannot stay on here much longer. Just like other contributors that comes here before me and have contributed a lot of their time without asking for money and they do it all for free… It is very unfortunate but sometimes you have to think for yourself if the time you spend can help you and others to grow or is that time spend will prevent you to excel and hone your skills and talents…

Focus more on how you can grow and improved because you are not just like everyone else. This is what winners and successful people do… They constantly looking for ways to improved and at the same time , they keep their feet on the ground…

21

Of course it is & it’s yet another example of going way over the top in an effort to defend these show ponies who trawl the forum regurgitating nonsense they’ve either read in some low quality over-inflated priced book or picked up at a $2k one-day seminar they’ve been levered into by some slick tongued sales pitch.

If individuals are intending to tutor, advise or instruct others on a public forum or regularly offer up (hindsight) trade entries giving the impression they’re experienced & successful participants in the market, then they should be fully prepared to submit a myfxbook or equivalent to validate their honesty & credibility when requested to do so.
In fact they shouldn’t have to be asked to do so in the first place.

The reason they don’t provide validation is because they don’t have any worth providing.
In the vast majority of cases they’re no more credible or qualified to dispense advice to newbies than the newbies themselves.

Absolutely they do & if folks don’t receive confirmation of their track record they should immediately stick that person on the ignore list & move on because these show ponies will con you out of your valuable time trying to convince you they’re a credible source of trading information.

And you won’t because if they dared to show one their credibility & elevated forum status would evaporate in an instant.
That’s why they will do everything possible (including attempting to belittle you for asking) to avoid supplying verification of their supposed successful trading activity.

22

No “empirical evidence” but it sounds like our old buddy jadd806 is back.

Seems the lad might be addicted to trolling babypips in the same way a “delusional gambler” is addicted to slot machines.

Always sad to see banned members crawl back in under a new nickname, my guess is they have no self-control, just can’t stop. Maybe it’s a disease? :56:

23

So let me get this straight…

I am all for showing " myfxbook" if someone is selling something, marketing, advertise, or mentoring or anything that you have to pay for this type of service. I wanted to be clear that these does not include the regular posters on here who just want to express their experiences and have “some” knowledge while still in the mids of a learning stage. Or someone who just want to collaborate his or her trading ideas and offer " some" help. There are those who just wanted to contribute on something and trying to stay away with other people who demand " myfxbook" to build credibility. There are other ways to build credibility not just who define via myfxbook…

I just wanted to be clear on that so anyone are still free to post their ideas and experience. Besides, this is what Babypips website is for… To communicate with other traders around the world and share their experiences with others and hope it will help them along the way with this journey…

24

Come to think of it, you are right. Reading OP’s post again, this is indeed jadd806. He makes the same points jadd used and uses the same language (“pipe dream”?) as jadd.

Good spot!

25

Of course. Anybody is free to share their viewpoint. Nobody is obligated to post a myfxbook. But when forum hotshots with hundreds of posts like yourself, gp, PipMeHappy, and many others give advice you dance around the facts. You folks like to [B][I]imply[/I][/B] that you are profitable and that your advice is coming from a well-seated position. When in reality you have nothing or very little to show for the hundreds or thousands of hours you have spent on trading and forum posting, and are hardly more qualified to give advice than those whom you dispense it to.

So again, nobody is obligated to post a myfxbook or verified broker statements. It would just be refreshing to see [B]even just a single one[/B] of the dozens of hotshots here to put up. But that won’t happen, and we all know exactly why.

26

Jadd, please get a dog or a hobby. You still sound like a broken record.

EXIT THEME: YouTube

27

No. If you must know, I am a “hotshot” myself (over 3,000) posts on FF where I post under a different, though similar name. While I was still attempting to be a “trader” I coded many free indicators and EAs, some of which became quite popular. I’m sure quite a lot of people here have used my work before and would recognize my name. I get bugged on FF quite frequently by people looking for me to bugfix and update my previous work, even though I am not longer trading or coding indicators. I did not want to experience that here.

28

Lol wow that’s amazing…

I am not selling anything! I am only posting of what my experience does far… And it is not my fault that I am making a lot of progress and because of it, i am excited to share it. I was asked before if I could mentor someone but I know I am not equip to do it so I said No…

I’ll take it as compliment though… “Hotshots”! Too funny!

PS: well, I guess I can’t post anymore since I am one of the " Hotshots"… It sucks to be me I guess…

29

That’s us:

Hot Shots! (1991) - IMDb

30

confrontation, contradiction, are always side by side with the unknown situation. i think thus simply words i’ve learn based on my first years decide to get serious with fx trading. having a full negation from people around, including my family. I leave home, living on my own, had a job for living, and fx trading for advance earning. all forum members should understand what you may concern, it’s a common problem for anyone who not really put a serious attempt in learning, in what fx trading works, all you may concern perhaps how to get rich, fx trading should be our private money printing machine.
and yet you really get pissed off, as stated fx trading never suit for investment plan!! not a chance!
it not worked that way, while perhaps it works the opposite way, you dont suit with fx trading, by a chance!
just my thought. have a great journey sir.

31

I haven’t read the whole thread or even the complete initial post but it sounds like you ain’t enjoying forex. Not everybody has the mentallity for it. Get out before it consumes you man. There’s more to life!

32

I think perhaps you’re painting a rather excessively flattering portrait there Roger. :slight_smile:

As much as they’re friendly, amiable & enthusiastic forum posters there’s no evidence to support them being tagged as consistently successful forex traders, certainly not based on their contributions thus far, implied or otherwise.

33

Perhaps… Neither you guys are… You don’t show any successful trades either, nor any myfxbook, nor any contributions, where we can all learn from… So what gives? Have you help anyone on here? I don’t think so…

34

If you, not-so-jolly roger, and the other one or two who agree with you are so unhappy with the main contributors on this forum you are always free to go elsewhere. Either that or start posting something constructive…and don’t forget to show some proof of your capabilities

35

And neither do they claim to PipNRoll.
But with all due respects, he’s not wrong is he.

And if he is wrong then obviously any or all of you 3 guys can very easily make him eat his words by producing a verified track record showing a consistently profitable balance :slight_smile: