Yes, I have seen lots of ads for profitable businesses for sale. What are you trying to say?
Nothing. Absolutely nothing.
Well, taking your post literally this is where our points of view diverge.
I know what I know about trading. I post it as and when I feel I can help. Or if I feel there might be someone I can learn from.
I also know (I think) that you know a lot about trading. But you don’t post it.
I do post something sometimes. I just dont ramm my knowledge into the throats of others. And by the huge ammounts of useless posts it goes under unnoticed.
What i wrote above in the statements is knowledge. It doesnt fit into the perception of people. Just because it doesnt fit it gets down unnoticed.
Just like when i post (a dozen times so far) that online knowldge is useless, it goes down unnoticed as it doesnt fit into the “easy money”-approach people have on trading.
Nothing worth something comes for free.
So far i have found not even one source online which can prepare you for trading. But thats another storry.
The point of my posts in this thread is: 99% people fail in making a living out of trading.
Yes, 99% of new traders will fail to make a living from it. But do you really think you will stop them trying by telling them not to try?
I like to think I can at the very least help keep some traders afloat so that they either do succeed in making a living or they see the equity curve and pull out before they’re broke.
I don’t think you will succeed. I know I already am.
I know teling them to not do it doesnt work. I tried that years ago and got banned from the forum. But telling them that its almost impossible and their chances are much higher in other industries will at least make them very very careful and focused on the process, which will increase their odds. Telling them “if you do this and that and if your not forrest-gump-style-dumb then you can/will suceed” will only cause them going easyminded and careless on it.
The truth is: 99% fail.
The truth is: theres an entire industry dedicated only to bring in fresh meat to feed the 1% that makes money
The truth is: your chances are much much much higher in real life to make money
The truth is: adds and information regarding trading have more in common with adds of casinos than real businesses
The truth is: online you will never learn trading
The truth is: while your broker doesnt care if you earn or lose, he much more likes it when you lose
The truth is: retail trading is designed to make people lose
The truth is: forex is a zero sum game. Profit can only come from losses of soneone else
The truth us: the profit of the few profitable traders directly comes from the losses of the bigger group of losing traders (if you want an explanation of why that is so ill post one later)
And there are many more truths which people either dont know about or wont tell you.
I see so many posts in here (not this thread) which are based on rumors heard and are so far off reality that it makes perfect sense to me why so many fail. It takes 2 or 3 posts of me to read of someone to know if hes a profitable or losing trader,i dont need to ask him/her.
The truth is: i cant help anyone. Whoever has an ego big enough to think they can make easy money by tradin has a big enough ego to not listen to anyone at all. So any “help” is futilt.
The only help i can offer, is this form of help to someone who hasnt yet invested time or money- by telling them their real chances and help them decide if this work is for them or not. They decide. But usually they decide on wrong information. I give the right info and maybe help them to decide wisely on their own behalf.
It’s normal; good setups aren’t available here and there and this is why, you need to work with multiple trading pairs! But; nice to see your concern on the quality of your entry points!
Yes; and having a long term plan on learning is obvious! I see; a number of new traders try to learn so quickly as a result; more than 98% new traders losing their money initially!
Hi, thank you for the advice and I do not day trade I am trying to become a swing trader. I am just nervous because i do not fully understand the fundamental side and at times i get analysis paralysis on the technical side of things, however, all the forums i have been to seem to suggest that these are all normal beginner mistakes so i feel more confident now and I will listen to your advice aswell
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We are all over our head with this industry, which one of the reasons I love it.
The aim is not to take trades every single day if that’s not your strategy.
Try to find yourself/build a trading plan - backtest it and then get the numbers.
By getting the numbers I mean:
1- Figure out how many trades you would be taking every month (but backtest more than 100 trades before knowing it)
2- Average return per trade
3- Strike rate (so that you don’t get negative vibes after taking three losses in a row if your strike rat eis only 30 to 40%)
Hi, thanks for the advice