No, there is no hope with trading is rigged. My 44 years uncle said (I just convert into English):
“People playing this nrigged game/ lottery are giving their money to others that goes in Miami’s holidays and stays with 18 years old pu***es. Old men. With sagging skin.”
Hurt so much to hear this. I’m 21 (to bring a personal aspect of myself, unrelated to financial markets), pretty good looking and I’m dumb enough to be lonely. Hearing this and seeing it as real, my mind goes down. It turnes me down. Girls… nevermind. I don’t want to badtalk. But money matters.
He never tried. He said he knows people in debt (with 25k…), personally. Also others that committed suicide.
But checking this link (given here in this thread): https://confessionsofatrader.com/ can only proof this. No one succesful. Not only is not random, if it would even be. That would be a fair chance. But no. If you buy, they sell. If you sell, they buy. You stand no chance.
Sorry I personally disagree. I know some people that succeed in this and they became the pro trader. I wish I can simplify this but there are a lot of factors contributed to be a successful pro trader…
There are reasons why people failed… but it’s the same principle when people build their businesses. Most of them failed in the first couple of tries and it takes life journey and adventure to be a successful entrepreneur.
Listening to other people whinging about their failures is useless and those people will get f***ed again and again
You need to find where you belong, if this is not for you don’t do it. But if you think this is where you belong, don’t listen to other’s failures but listen from someone who succeed in the business. Man up and Good luck !
Well said. Look around for a good mentor who had been there, be teachable and follow his advice, one may save years of groping in the dark and tons of unnecessary losses, and shorten many years of learning curve!
It’s true, no one knows where is market is heading to, up, down or sideways. There are times one will make money, there are times to lose money and there are times to go fishing (by being standing aside and no action taken).
Most important is one needs a good trading plan, stand by it with discipline. Take care of the risk management and ensure one can live long enough (survival from the market) until tomorrow to trade!
Always remember, one has to lose to win! All winners do encounter losing streaks from time to time like all traders, no one can avoid that completely.
The difference between winners and losers are just that winners make more than losing, losers lose more than winning! Learn to manage one’s emotions and build up one’s EQ!
Trading could be very simple or complicated depending on one’s approach. Keep it simple and realistic! One doesn’t need to be a genius to become a winner! No one can beat the market, please don’t try it. But what one should do is to learn to beat himself, overcoming one’s greed, fears, impatience, impulsiveness, etc, bunch of human weaknesses.
Given long enough times of trading, one will slowly master to control one’s human weaknesses. That’s the time to start experiencing the fruitful and rewarding trading results! Keep it up, folks!
All charts only tell us what had happened in the past but they can’t tell us what will happen tomorrow! There are many differing interpretations on the same chart formation and price pattern by different chartists, anyone could be right some of the times!
To me, every line could be a resistance or a support depending on the next price movements. One can tell many stories and predictions just out of the same one chart!
What you said is right, “the forex market is like a casino”.
Most loser traders approach the market like a casino, they own the player’s mentality and are playing against the banker, and against the house advantage. However, the winner traders approach the market with differing mindset, i.e. the banker’s mentality, they don’t do what the loser traders do, the winner traders try to minimize or reduce the odds against them!
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Building a trading plan around an effective forex trading strategy and following it with discipline will help you master Forex trading.
If you want to get started trading the Fx market on the right track, it’s critical that you are aware of and accept the fact that you could lose on any given trade you take. Don’t only think about the reward and ignore the risk. Also, don’t become emotional before, during or after a trade. Apply risk reward and money management effectively.
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