First of all I am not here to promote or pitch anything. I’m here to vent and exercise my freedom of speech , while addressing a critical issue in the FX community. If I get banned for expressing myself **** you in advance!
One thing that I notice a lot on BabyPips is that there are a lot of people stating things being impossible. You will be sure to find someone saying its impossible to hit certain types of returns from trading Forex. I wonder why that is?!
If we are all honest with ourselves we are not trading for a hobby. We are learning how to trade for one thing and one thing only; and that is making more money so we can live a better life then we have now. If you are doing trading for a hobby you crazy! :56:
Another thing that I hear in the FX community is that one system will never work forever and I’m having a hard time understanding how that is true. Tim Sykes who trades Penny Stocks uses the same strategy over and over which has lead him to a nice fortune.
And whats even more interesting is that he has a student Tim Grittani who uses the same strategy day in a day out throughout the year and he was able to turn $1,500 into $1M. But when it comes to Forex one strategy will not work for a long time?! This is crazy.
How the hell are you supposed to earn a consistent return on your money if the strategy you are using now will be useless in a few short months?
If you watch this interview : Tim Sykes Creates A 2nd Millionaire Student From Scratch - YouTube
Notice how at 35 seconds Tim Grittani mentions he trades the same strategy and its consistent over time. And it was obviously consistent enough for him to earn a nice Mill Ticket over the course of 2 years.
So my question is why is it “possible” in the world of Penny Stocks and “impossible” in the world of forex? All I see in Forex Forums are strategy upon strategy. EA after EA and no one is really profitable or had their lives changed from trading Forex.
I guess that proves that most people who trade Forex do fail.
If there is a FX Trader that is consistently profitable at a very high percentage it would have to be Shirley Hudson who trades the London Close. And she is 94% accurate according to her spread sheets. Now I will wait for the doubters and the impossible thinkers to say dude thats the lie and its impossible.
the truth of the matter is that she looks for the same set ups everyday and has traded the LCT consistently for a few years now. But most people say that trading strategies cannot work that long.
Most common things said by people in the FX community:
- That strategy won’t work forever
- It’s impossible to turn a small account into substantial profits
- 60-80% accuracy is impossible
- That strategy won’t trade that consistently forever
- You need have a million strategies if you want to succeed at FX.
Why arent there any real stories like this about FX traders?
Why are FX traders told that a strategy won’t work consistently over time?
Why is it that a PS trader can master one strategy and earn consistent returns while the FX trader as 10+ strategies? (Rookie and Pros)