hi guys
I got this question , if anyone of you is getting some money on forex, or loosing , I just want to know if is it real that 95% of traders loose their money, how about you?? Are you getting rich?? how much??, if not how much are you loosing?
I’m profitable, but wouldn’t say getting rich (I’m way too busy at work to focus on really aggressive trading). But losses are inevitable that’s why you keep them as small as possible and let the profits run.
I posted the Whipsaw Song a short while ago, a bit tongue in cheek but everything you will ever need to know about trading is pretty much covered by Seykota in the song…
http://forums.babypips.com/newbie-island/18979-whipsaw-song.html
If you were to follow the advice on this song, you would probably be profitable.
Poohie - 95 % fail because 95% are not prepared to do the work involved. They read a book and ooh triangles and ooh wedges and oooh the stochastic
and if I adjust this then oh look it fits the price movement - oh yes I have the holy grail - I’m going to be rich ! - I’m off to the porsche dealer ! The reality is it takes 5 plus years to become a profitable trader - because ? Because you have to have experience, and that cant be grafted on, that has to be gained. And most people throw their money at the forex and usually come to the conclusion that their time is better spent elsewhere, if they remain liquid. I always remind beginners that they are civillians in a warzone. Going to your local army and navy stores and buying camouflage doesn’t make you an experienced soldeir ( with the exceptions of the Americans - they can buy guns with their kit - bad bad bad. 5 year mandatory jail sentence in the Uk if caught with a gun - no excuses, no mitigating circumstances)Its only when you know how to dodge snipers, booby traps, hand grenades, tank shells and firefights ( metaphorically speaking of course) do you become a profitable trader. Newbie s that want it their and then - form the 95% failure statistic.
Good point on the trading.
As far as guns in the U.S. We’ll be able to defend ourselves from foreign invaders who come in though the guise of immigration and multiculturalism and try to inforce their own views on the exsisting populace.
The majority of people in the U.S. who use guns for crimes are not the type you described (weekend warriors). You could argue their would be less gun related deaths if we didn’t allow guns. Frankly, most of the people who die from gun related violence are usually from gangs or involved in crimes and drugs and we are better off without them. Responsible gun owners don’t cause problems. In fact if you check the stats about the states where it’s legal to carry a side arm, they have a very low crime rate. It’s the states that take you to jail for having a gun outside the home that are the problems. Criminals don’t obey carry laws and use that to their advantage.
You have to be kidding me, right ? Over 10 000 deaths from gun crime ! and multi culturilism ?? Do you think the world ends at your back yard ? I bet as an American you have never been outside the states. You have sadly been spoon fed on right wing media and conditioned to believe what you believe. Where does this seige mentality come from ?Given your views if You go down your bloodline you will be disappointed as to who you think you are who your ancestors were and subsequently who you really are…Sigh.
And those who die of gun crimes are called …victims.
Crime comes with poverty lack of education exploitation and deprivation, erode those and you would have less crime. There are very few clinically " Bad" people out there.
Just googled some stats on gun deaths in the US - pretty grim reading, very grim reading. As to states where side arms are allowed - low crime rate ??? All you need is someone who has forgotten to take his / her prozac and its a dead mother / brother / sister . father … How many students have been killed through easy access to guns of late. All you need is a hormonally testosterone charged hot tempered teen and free access to guns. Doesn’t take a rocket scientist to figure out the result.
O I’m sorry, I guess I have to travel the entire world to have an opinion my own country. No I haven’t been much outside the U.S., but I have been all over it, and it just so happens the U.S. is many times the the size of the UK and it’s surrounding countries and in and of it’self going from state to state can often be like going to a tottally different country.
I havn’t been spoonfed anything. If I believed what the news wanted me too I’d think illegal immigration was great, the U.S. should be a socialist country, the economy is the repulicans fault and Obama is the second coming of christ. If I was conditioned to believe, I’d think more like you instead of seeing the plain truth of things around me.
I can trace my bloodline directly back to Irish decent and have no dissapointments there.
Where does my siege mentality come from? I don’t know illegal immigrants flooding in from mexico and crushing our healthcare and welfare system? Or how about masses of Muslims migrating here even though they hate everything America stands for and putting up ethnic only stores on every damn corner they can.
And no this isn’t about race. As far as guns my point was that the rightful citizens of the UK have no way to defend themselves against immigrants that decide to riot when they don’t get their way about something and trying to force their will on the goverment through full on riots. Basically inhabiting smaller parts of the country and making them x only and enforcing their own rules over the rightfully ruling governments.
That crap won’t happen in the U.S. At least not until some asshat, with power, thinks it’s a good idea to take our guns away.
What a load. If someone wants to kill someone, they will find a weapon somehow. Want a solution to student/random shootings? Let everyone carry. Then when someone nut job pulls out a gun for no reason, he gets gunned down. What the media fails to report is that in states where guns are allowed to be carried, this very scenario has played out many times. Every time some moron leave an unlocked gun out for a 2 year old to play with and he kills himself they jump on it. “see see, guns are evil and waaaay to dangerous.”
If you want to look up stats and facts here’s a scary one for you to look up. In every major civilization when arms were taken away, (not just guns) and the civilization thus helpless against attackers, often the next thing to happen was mass genocide by the either their own government or another.
Typical xenophobia ! And excatly where do the Irish come from …eh let me see … let me think…oh yes anthropologically speaking …Africa …but I suppose you wish to draw timelines which are convenient to your arguement. Man originates from Africa …the rift valley to be precise and 60 000 years ago. What convenient timeline would you like to use for your arguement ? just curious, last year, 10 years ago …like I said, small mind …back yard tinged with a bit of paranoia. As to multi culturilism - ever had a pizza, chinese food ? or do you live on Guiness Beer ? As to politics how could you possibly vote twice for someone as thick as GW Bush. He raises the bar as far as stupid goes. I have seen more intelligence at the bottom of a pond ! Dont worry abou it - we had a psychopath ( albeit submerged - we never knew he was one). You really need to get out more often - and dont bring your gun. We’re not all trigger happy out there !
I make a living from Forex, nothing spectacular, I am not looking for the big pot of gold, I am more interested in enjoying my day and learning market and trading concepts.
No, xenophobia would be fear of others. I am not fearful, I just don’t want my countries government overtaken by other cultures through mass immigration. Which IS happening is over in many European countries. I have no problem with other cultures as long they don’t try to iradicate mine and then try to call me racist for having the teremity to, “Gasp,” think that my own culture has the right to run it’s own homeland how it sees fit.
As far as the food reference goes? WTF, that is just straight up stupid. What is america supposed to let every illegal in from mexico because we happen to like taco’s?
As far as everyone coming from Africa. That is a crock. Ya so the continentens were one large land mass long ago. All men did not spring from one small valley. You are so brainwashed it’s pathetic, because you don’t even realize how brainwashed you are. And so what if everyone did. So what. So, what if everyone looked exactly the same. That was not what we were talking about we were talking about guns and the reasons for having them. Not the origin of man.
As far as George Bush, I didn’t vote for him twice. In fact I didn’t vote for anyone twice. I voted against Obama for his leanings toward socialism and bigger government and taxing people who make good money even more. And as far as our presidency, I think that is a crock too. Whover the powers that be want in, gets in. The people here vote for whoever is the most charming and best looking, even if they never heard said politicians stance on any issues. Most people here vote stictly democrat or republican regardless of what either candiate says.
Frankly I think every office in the U.S. government should be emptied and re filled with actual citizens of each state, as intended. The government we have now is nothing better than a super powerful mob that acts mostly in it’s own interests and couldn’t really care less about how they effect the sheep that voted for them.
P.S. if you want to discuss this further lets do it over PM, or even on different website/forum. I think we’ve de railed this thread long enough.
When are you thinking about joining the civilised world and the 21 st century or have you elected to opt out ? Those illegal immigrants you talk about are most likely the backbone of America, as unpalatable to you as it may seem. The good citizens of America are too proud to carry out the menial tasks they do. Whose going to do them in their absence and at what rate ? A higher rate would lead to inflation …They are economic migrants as were your forefathers were or is that an inconvenient truth ? Or are you a " I was here first" merchant which goes to the timeline issue I raised.
You ever watch that “king of the Hill” - you remind me of grubble.
Now as to the gun issue, if the man at the top comes to get you, he’ll just drop a bomb on you which goes back to what I was saying and proven guns are bad.
Hey you two…get a room!..a chatroom that is LOL 
We may have bigger things to worry about …heard of the FINRA Proposal yet? :eek:
[B]2009.02.05 BIG BROTHER WANTS TO REDUCE FOREX LEVERAGE [/B]
Retail Forex
FINRA Requests Comment on Proposed Rule to
Establish a Leverage Limitation for Retail Forex
Comment Period Expires: February 20, 2009
Executive Summary
FINRA is requesting comment on a proposed rule prohibiting any member firm from permitting a customer to: (1) initiate any forex position with a leverage ratio of greater than 1.5 to 1; and (2) withdraw money from an open forex position that would cause the leverage ratio for such position to be greater than 1.5 to 1.
The text of proposed FINRA Rule 2380 (Leverage Limitation for Retail Forex) is set forth in Attachment A.
Questions concerning this Notice should be directed to:
Gary Goldsholle, Vice President and Associate General Counsel,
Office of General Counsel (OGC), at (202) 728-8104; or
Matthew E. Vitek, Counsel, OGC, at (202) 728-8156.
Action Requested
FINRA encourages all interested parties to comment on the proposal.
Commentsmust be received by February 20, 2009.
Emailing comments to <[email protected]>
========================================
Full text attached.
[B]EVERYONE MUST SEND AN EMAIL AND TELL BIG BROTHER TO BUTT OUT!! [/B]
http://forums.babypips.com/attachment.php?attachmentid=6388&d=1233813176
Different rules in the UK. We are regulated by the FSA (Financial Services Authority) and guess what ? We may not have guns here but we can spreadbet from as little as a 300 GBP on GBP/USD and 150 GBP on EUR/USD - that s a turn up for the books! And its tax free ! Sorry, I will send the e to help out but zero affect on me.
Ha, that just proves you are a brainwashed fool. What you just said is what every stupid liberal, pro imigration moron keeps repeating, so uneducted, unrealistic people like you will parrot it.
Ya, illegal immigrants are the backbone of the U.S… LOLOLOLOLOLOLOLOLOOLOL The backbone of the lawn care industry…maybe. Backbone of the drug trade and criminal gangs growing at an exponential rate, most definately.
There isn’t a job they do, for unusually low wages, over here that someone else wouldn’t be willing to do. In your mind anyone that is a U.S. citizen automatically gets great schooling and goes to college and become a doctor or a lawyer or starts their own business and is then rich. There are plenty of legal U.S. citizens that will do menial work for low wages. We do not need illegal immigration to fill out any part of our labor force, no matter how menial.
My forefathers came here when the U.S. was seeking immigrants. They also came here legally, registered, and learned to speak english. All of this when there was no welfare system to sponge off of, and no free this and that for anyone who happened to be in the country. And again, they were needed and invited.
Just stop posting, the more you do, the more it points out how your views are based in a fantasy world programmed in you by the ultra libtard media.
As usual, when someone points out how idiotic views of people like you are, all you can do is resort to petty name calling and comparing me to cartoon characters.
Guns are cool. As Phoenix pointed ironically most gun violence victims are the gang bangers.
Agree about most if not all of your observations: every nation is affected by immigration by some varying degrees, Uk as well as many european countries have been swamped by the immigrants- they have changed their genetic make up, their social and political structure. I guess it was a major mistake for their governments to open doors ajar for immigrants.
But I am an advocate of controlled immigration based on sustainment and preservation principles. Basically America needs to assimilate and not be assimilated by one group of people. However contrary to what you said once the muslim migrant is here-he has all rights to open an ethnic store, or become the governor of lousiana but and big nut based off merits and not just any entitlement of being the so called minority
And I have no idea what people have against Bush. He did the right things peeps but he just took it too far.
And it irks me no limits when some one sitting across the pond about a 4000 miles away think america and its leader can be judged wearing rose colored glasses.
Get over it now and let it go
And I voted John McCain-too bad we did not get the so called third term 
Last but not the least-to OP, hey dude I am not getting any richer. but here is what I am doing-
my full time regular job pays me good money. Before forex I use to invest some of that in a banking savings account. I earned about 3 percent on that a year-so when I deposited a 1000 bucks I will get about 1030 after one year.
Then forex happened-and then profitable trading happened-and now since past 6 weeks, I have been invested and have grown my account at about 25 % a month-if I can continue this over a very long term, you can do the math and decide if I am going to be rich soon 
Good question.
I am doing the complete School Classes of BabyPips, but sometimes when I see SO MUCH Aggressive propaganda in TONS of banners to make you join Forex and put your money in this, I start doubting If I am really investing my time in learning a profitable market or If I’m wasting my time… I see more advertising than in gambling… everywhere you see those FOREX banners with “trading the euro is easy”… Yeah, so easy… we would be all millionaire if it was SO easy… And as you can see 95% of people lose money… Only 5 GIFTED Phd’s brains out of every 100 guys, make a profit.
I don’t see so much propaganda about Stock market… ALL is forex… there must be a reason, that’s for sure… I’m sure that most people lose money… 95% is INSANE!!! and 5% must be all PROs with Phd’s and years of experience…
What makes you think that by learning forex non-stop during one full year and demo trade 6 months, will make us profitable???
What makes you believe that you will be the choosen one to be part of that GIFTED 5% ??
These are questions that come to my mind on a daily basis. And I don’t plan to become rich, let’s be plain honest… Most people are happy with a profit. Nobody is stupid enough to believe they will become rich overnight. Nobody.
I honestly want to know who here makes money, and what are your curriculums, how many years in this and how many years doing DEMO, what university titles do you have, etc… Just to have an idea, of what are our real chances in this market.