Most of the people who trade Forex (or anything else) think they are smarter than the others. That is why they trade.
Still, statistically 95% of traders end up losing consistently or at once everything and they stop trading within 6-9 months. 95%…! I bet none of the people who end up in the 95% start like: ‘I will belong to the 95%.’ Still 95% end up there.
Of course, there is the 5% (mostly banks and funds) who happily take the monies from the 95%. Trading does not produce real value: we all BET against each other. If we BUY, there is always someone else who is on the other side with the solid conviction to SELL and vice versa. So in its core nature trading is gambling (we BET, don’t we…?). Of course trading is not gambling for the 5%, it is gambling only for 95% against the 5%.
BOTTOM LINE 1: You cannot learn SUCCESSFUL trading from someone else. Why would anybody - in his right mind - teach his/her edge (i.e. his/her ‘ATM code’ to financial freedom) to anybody, even for a fee? It would only weaken his own chances to get the good entries and exits, risking the saturation of the strategy until it dies.
BOTTOM LINE 2: You need to find your OWN EDGE to become successful and financially free through trading, OR you need to find a successful guru and subscribe to his signals for a monthly fee.
BOTTOM LINE 3: 80% of trading is psychology and 20% technical knowledge. So when you have mastered the technical part, you are still up to mastering the 80%…
If this is true, then it dosent matter if you master or practice for 4+ years, if its just gamble then **** life, I have no ****ing other thing to do in my life.
That is not necessarily true, you see traders buy into value in every financial market. I might be buying your long term short position
just to make a few pips profit.
Trading in general is decision making, you have to get confident with your decisions otherwise you won’t see any value
In your work.
Finally psychology in trading is indeed very important more than most folks think.
BOTTOM LINE1: very true. You should search for the strategy that best fits your skills and shortcomings.
BOTTOM LINE2: true, but why that guru would share with you a fortune for several dollars ?
BOTTOM LINE3: Combine the two (psychology and knowledge) by mastering the technical part in such a way that skills become habits, and patterns become “feelings”, emotions transform into probabilities, fear becomes something you have seen thousands time before, greed goes to calculations, and winning and/or loosing would be part of the game. When you ll be done, you ll be among the 5%.
Why the hell did you care so much about other babbling ?
In my country there is a guy named indrafx who turned 1000$ int 1.000.000$ within 8 hours and his record is in mt4i site, also he made many ea famous in all around the world.
I also saw many traders who seem dull, idiot and don’t debate or talk too much crap on public but they get amazing results that are hard to believe.
You easily get affected by other[B] ching chong theories[/B] how can you get success in life ?
yes he is quite a trader indeed… according to myfxbook “indrafx” started at 0% gain, lost half his account and is now only down 25%. That’s more of the Folly Grail right there.
This is a good example of a “run”. In 340 trades I can only find a couple of losers. That is the whitest white swan you will ever see on the distribution. You may see that 1 in a million times. You hit it big at Vegas, run away with your money and never trade again.
I dont get this myfxbook? Why the **** would it show this random numbers if they are not true? I saw another one which was 94mil are you joking with me? This is the worst site I have ever seen, isnt there a legit one and not with so much bull****?
It’s one of my older systems that failed.But anyways that doesnt mean that there is no single good system to trade forex.Are u kidding with me, you are saying that you cant be rich by trading forex?
Tell that to Donalt Tumph or Warren Bufett, they made billions with trading.It’s just that it’s not that easy as you thought.It takes effort and hard work, but at the end there is no question whether that you will become rich or not, the question is only when.And thats up to you!
