i reacently add a topic " After 10 years in trading my advice for you " my idea summery is " unless you use illegal strategites or you don’t have big capital you really can’t become profitale in trading. the only parts profitable in trading is brokers, bigbanks and high frequency traders. all these psychological stuff made by the fake trading gurus " in the comment section some peoples (i think they are also fake gurus ) start to argue that these stuff really works.
if you are trader instead of just reading this i would like to here you’re thoughts in the comment section. does this discipline, risk management really works or trading is a scam ?
UK and EU brokers are required by law to state what percentage of their clients with active accounts are losing money and it is always in the 65-80% range. So you have about a 20-35% chance of making money. Of course, these brokers will open an account for anyone who fills in the forms, no training no experience required and just a few hundred pounds or euros deposited (the most arduous requirement is showing you obtained the money legally and can legally get more if it’s needed).
So basically a new client can start up as a self-employed trader with no idea what they’re doing and nobody will lift a finger to stop them. It is not surprising that most traders lose money - it is just surprising that not all of them lose money.
Some Forex Traders may treat trading as gambling, successful Forex Traders know that it is more than random chance, and that skill in Forex Trading is the ability to use analysis, trading strategy, and knowledge to place trades with a high probability of success.
Since you’re only trading a contract for difference and not trading the actual underlying asset, I’m interested in knowing which CFD brokers offer 1:1 leverage for full price trading.
All offer 1:1. Leverage posted is expressed in Maximum Leverage. Not using margin, trade with the balance only.
In Forex, trading with 1:2 leverage would be buying 0.2 lots of EurUsd with $10,000 account balance. A 1:1 would be buying 0.1 EU with an acct of $10,000.
I totally understand your point but I feel sticking to discipline & risk management do help even if it is tough to be consistently profitable. What is your take on role of mindset in trading?
I’m sorry for your bad experiences in trading. Trading is something normal. It will be profitable when you know the knowledge. You need also to know, trading is not an express way to be rich. This is the first thing most people think of it. There are some of them who can get rich fast, they are just the matter of number of probabilities.
Mostly we need years, around 3 years to start understand and become profitable. When we can detach our emotion during trading, it will be a lot faster.
Trading is not scam as long as you do it with proper party ( well regulated broker ). Try to learn thing, enjoy the fun of chart analysis. If you have urge to make money, trading will be painful. There is no secret in trading, you only need to find out how it work.
Interesting take. Risk management and discipline are super important but they are not magic bullets either. Trading can be tough but I wouldn’t call the whole thing a scam. I think it’s more about figuring out what works for you and accepting the risks that come in the way.
It is not a scam it’s just rather difficult, but overall I agree with almost everything you said up there, all these people talking about how discipline will change the outcome of your trades and sweet talks like that on how much you need to give it time and the results will get better in two years, that is not true, any of it. You absolutely need big money to get big profits, there is no other way, or you need connections in the banks to get ahead of others, which is basically cheating. So the whole point is, things are much more simple in this business than people tend to make it for their own purpose of gathering followers and selling them trading courses and stuff like that.
Discipline and risk management are crucial in trading. While brokers, big banks, and high-frequency traders dominate the markets, individual traders can still be profitable with the right strategy, education, and consistency. Trading isn’t a scam, but success requires effort, a sound plan, and managing risks effectively.
Is trading a scam? That’s a good question. Those who have succeeded and live a life of luxury say no. The ones who have failed will find any reason for their failure. You have the individuals who make no excuses who have succeeded and those who blame everything else for their lack of success.
-if you compare stock and forex ,a lot of differences ,and that’s where the holy grail lied.
1.why forex price show as 1.0859 instead of 1.08 ?because digits matters, 1.0859 consist of 10859 pips volumn ,1.08 only have 108 pips volumn
2.overnights interest.in order to stop you from “specific strategies”
3.forex comes in multiple/different/ individual orders ,stock comes in one “average price” order,that’s how stock beat everyone.
these are the question i figured out before making constant profit ,every single strategies is assuming something like when A happened B will happen ,don’t bet your money on assumption ,find out the 100% reliable stuff :the price itself.because for me 1-99% accuracy doesn’t exist ,99%=0
One of the (many) problems with what you’re saying above is that you think you’re comparing with stocks with forex, but you’re actually comparing stocks only with forex CFDs.
It makes a huge difference to the context, because while you think you’re identifying differences between types of financial instrument, what you’re actually highlighting are the differences between trading in a centralized market and betting against a counterparty.
