I didn’t say there was anything wrong with the charting aspect of MT4, I’m not knocking that at all – in fact it’s as good an option as any other technical package out there for everyday spot reads.
What I’m suggesting is that real deal successful players with a decent wedge & a solid track record, be they individual or group, might very well offer up some generic input here & there if they have a mind to, but certainly won’t waste their time bedding down in a place like this attempting to impress a bunch of anonymous wannabe’s by revealing specifics of their prime sources of income, well not for free anyway.
They don’t have to. They got far more constructive things to do with their time & money.
Those that are prepared to generate that type of exposure with something really worthwhile to offer are churning it out via private facilities to those willing & able to pay for it. Those candidates will usually recoup that outlay quickly by investing serious wedges into robust broker accounts (often arranged by the player/s laying on the training), which will be beyond the financial scope of 99.9% of folks on these types of boards.
The saying that goes: [I]you get what you pay for[/I] is generally uttered for good reason, especially when dealing with genuine professionals who have something worth offering.
I have known a few traders for over two years who have proved to me that they are consistent over that time - I have seen them post trades live while I am sitting there numerous times, so they have not been able to fudge the result. They have made good, consistent money over the time that I have known them. It’s just a half dozen guys over 2 and a half years or so, so won’t be long term enough to persuade some but they have convinced me that they are the real deal.
Whilst I do agree that the majority of successful traders would find participating in a forum irrelevant, how do you explain someone like ICT for instance? He is clearly successful and knows what he is talking about, and yet he still takes the time and effort to share his knowledge with every person here, whether they are interested or not. That is incredibly selfless in my mind. I personally have learnt so much from him that I would gladly pay him for all that knowledge if he ever asked me to - and yet he does it all for free! Remarkable I tell you…
It’s obvious you’ve only been exposed to this type of stuff via the interaction on here & perhaps other similar boards. Browsing these boards it’s not difficult to see why folks struggle to implement a lot of the stuff presented & continually tread water year after year.
But to be brutally honest the majority who trawl these places aren’t anywhere near mature or stable enough to be let loose with a trading account in the first place. And that’s the huge difference between the relationship & success ratios of mentor/student(s) in the scenario I mentioned to the typical scenario you’re commenting on in your post.
Real deal pro’s won’t waste their time & effort on sub-par wannabee’s.
And it definitely won’t take them anywhere near as long to get someone from scratch to consistency, never mind the information overload you lot put yourselves through.
It’s all about the filtering process.
There’s quite a lot I could elaborate on regarding the content of my & your posts, including but not exclusive to, the quality & content of delivered material, the necessary quality of the recipient(s) & the timely manner of the absorption & execution of the training delivery.
You’re talking chalk & cheese.
Like I said, you get exactly what you’re prepared to pay for & I’m more than happy to stand by my comments in that post.
Thalia has a different view to one or two other folk & has offered a couple of prompts as to what they are & they clearly differ from yours, but so what?
I don’t see anything in his posts to signify he’s experienced misfortune following a professional trader. In fact I get the exact oposite impression when reading his contribution.
It might surprise you to learn that there are some people on here who possess the capacity to think & act for themselves & don’t feel the need or desire to immerse themselves in the gospel according to St ICT.
It always the same with you people whenever someone posts something contrary or of an opposing view to your own slightly exciteable beliefs on a thread, you all start getting sniffy & defensive.
Well in that case I apologise - I didn’t mean to come across like that.
ICT aside, what I am trying to argue with Thalia is his view that one has to pay to receive advice from a genuine professional trader. Is it not fair to assume that there are at least some decent people on this earth who aren’t blindly obsessed with money and who derive pleasure from helping out others? I think it’s fair to think that, but as I said earlier, to each his own.
I think no one wants to brag how successful they are in forex trading, but if statistics say that only 5% are successful retail traders then those 5% have backgrounds in finance, economics and banking. The 95% fail because of ignorance. It takes years before you reap the reward and be profitable for an ordinary person to be in this business. How can you bear a fruit when you haven’t sown a seed. I am not an expert, actually I’ve been trading for 2 years and had losses, but to survive in this business is to study, study and be educated. Its a jungle out there you are competing with people who have university degrees and masterals and work for brokers, banks and hedgefund institutions.
PureMuscle,
I don’t disagree with you that some people could & do benefit greatly from interacting & learning via this type of environment & there could well be a small selection who get their act together sufficiently to generate something worthwhile. After all, the law of averages is just as applicable here as it is anywhere else.
I do however strongly agree & concur with Thalia’s comments in the second paragraph of his last post. The odds are heavily stacked against most folks from the outset due in most instances to psychological intolerance. They simply don’t possess the necessary nous to make this thing work & most never will however long they beaver away.
He’s pretty much on the button too regards filtering out those candidates who quickly display the obvious characteristics likely to respond positively to the types of challenges this game presents, which in part explains his other comments regards suitability, speed of progress & likelihood of on-going success. And that type of scenario is usually the result of an intensive, very personal hands-on association.
Does that preclude & inhibit those who choose not to pursue the fee based route? no of course not. But it doesn’t take a genius to conclude that in the majority of cases public forum exposure via this type of interaction simply doesn’t work. And these places aren’t the pastures where successful pro’s come to graze, investing their valuable time & effort where the vast majority of their audience will never trade profitably if you spent 24 hours a day with them for the next 12 months.
Just look around at the time some people have been chasing around here & other forums getting all hyped up & jazzed by the newest forum superstar to hit the stage.
I agree the majority of “pro traders” do not come here to graze… as it’s not stimulating or financially rewarding for that majority… I however, feel and think of myself as the minority in that respect. If I help one struggling newbie in my cause… then I have received my just reward.
As a side note, while I am flattered and humbled, I think it’s best to leave me out of everyone’s “apples to oranges” debates. I think my actions and motives speak for themselves. No one needs convincing or arm wrestled into seeing it my way. If they like what I share… wonderful. If they do not… just as wonderful. I have to admit… I do get a bit turned off when I see folks scrapping over something I work very hard at being sincere and helpful with. I am sure there are scores of folks on here that seen my stuff and turned a nose up to it… and I am comfortable with that. Those that find my material helpful… understand… I do not lose sleep over others not finding it, their cup of tea. Everyone has their own tastes and interests… as I am certain I turn many of the females off with the excessive man-targetted hooks I use in my videos… but ladies… you can customize those rifles in pokadots and pink ribbons too! :5:
Carry on Gents…
::disrobes from his forum Superstar costume:: :57:
so about 70% lose every quarter according to the data he used…
What the reports he used do not tell us is that those 30% that are profitable over the one quarter probably end up in the unprofitable 70% in the next quarter…
Also given that those that lose… Generally will lose more then the winners win… Those that are profitable in one quarter, and not in the next, will typically be net negative after the losing quarter.
90ish % seems to me to accurately reflect the rate of failure for traders coming into this.
Interesting…How I met these two guys who told me they have been intraday traders for 4-5 years or so and making good money saying they go for 50 pips a day but couldn’t give me an idea what their average % return per month or year was? Yes they knew about currency pairs and indicators and stuff. But c’mon…Any serious trader wouldn’t fall for that. Besides that I have not met a successful trader…I hope to meet some real players and do some business in the future if the oppurtunity presents itself…
