“big players, manipulating the market and taking advantage of smaller retail traders,” is a complete myth. The markets swing and pivot on their own, they don’t need to be manipulated. Quite simply, traders that say this are sore losers who don’t know how to trade according to the rough realities of the markets. (must be rigged because I lost!!!)
And no it is not a, “zero sum game,” saying that implies that no matter what you make you will always lose it AND or that whenever you win someone on the other side always loses that much. Such is not the case. This is another thing sore losers say when they give up. (It’s impossible to take money out of the market because I keep losing what I gain!!!)
There are a multitude of ways to trade. Long term, short term, scalping, swing. A good exit for one trade might be a good entrance for an opposite longer term trade. Also, some of the movement isn’t even about trading, it’s about news and a currencies percieved future value, or just banks moving money around.
For what little experience I have, I can’t get into this whole philosophy of “they’re out there to get you” and “each time you lose someone on the other side of your trade wins”.
Okay, I realize that dealers do run stops, that’s for sure, and that is probably the one place you can say that you get ripped (although when they screw up those games, they can get badly hurt).
But outside of that, the way I see it there are so many thousands and thousands of participants in the market. Some are big, some are small. Out of the big money, you have quite a lot of hedgers on top of the big-time speculators. Everyone has their own agenda, their own timeframe, their own strategy. Given that, how can we view each trade as a specific event that there is a counterparty to? That means every time I open my position, someone on the opposite side is opening theirs, and every time I close someone is closing theirs, but we’re both always opposites. Its ludicrous, this is poker talk. Even a speculator with the same exact strategy as I can be on a higher time frame, and that means we can both profit if we’re on the “opposite side” of the trade.
I dont think it is common sence or secrets its simply about keeping your risk re account balance small, making smart trades and let compounding do the work for you. A $1k account and a 1% trade with 20 pips a day will get you to $1m plus income in a year or so. Obviously as the account gets bigger youd reduce your risk but its undeniable that compounding is the way to build a big $ account. Shame 95% of traders just dont get this.
Well,aint gonna argue with you.And for the record,i have NEVER lost a trade since i started forex.I am not bragging here but i took my time before started live .I went through the baptism of forex from soup to nuts.And it saves me a lot of headache.And if you dont believe that BIG PLAYER influences market,take a look at USD/CHF last week friday(last working trade of the month),Swiss Bank manupulated that spike for 100 pips.They have done it before last year March toward the same time and they are likely to do it again.This is one example i really aware of.
I rest my case.
Excellent.One thing i know about truth is that it is universal.You are the second person that will say this.One experienced trader told me this two weeks ago.Two good heads are better than one:D:D
sigh 15years is damn too long for me.It should not take more than 3 years else,you are doing something wrong or your system is not working the way it should be.
Give us a bit of information about him or her.What does he do that others do not? What does other do that he doesnt? We are here to learn from these forex millionaires.
3 years is way too long to become a millionaire, it should only take a matter of minutes - simply take your money out of forex, buy lottery tickets with it, win the lottery and hey presto, youre a millionaire.
I only met one trader in my life, a perfect useless trader, he had a booming computer business. he sold his business and invested every penny in the forex market, guess what?. today he is broke and living as a begger, lost every penny
Lottery is a tax on people who are bad at math. The odds are 14 million to one of scooping the jackpot. Statistically you are twice as likely to get struck by lightenening on the way home from buying your ticket.
a tax on the mathematically illiterate. One of my favorite quotes ! lol
Funny, I know somone who thinks that the more people who play the lottery, the less her chances are of winning. Doesn’t get it that this only increases the odds that you would have to split it with someone if you did win. LOL
Interesting thing about the lottery and probability. There’s a 100% chance that someone is going to win it. But something like 97million to 1 that it will be you.
I don’t think it is a Zero sum game… and even if it is, there are not just traders in FX Market, everybody must enter this market for import, export, travel, offshore business, even governments join this market and I don’t think they’re exactly trading the way we do… Am I right? hehe
You are absolutely correct.Playing lottery is one of the surest ways of wasting money. The odds that you will die of eating bacteria is 1m to 1 and you are 18 to 120 times more likely to die this way than to win lottery.
The chance of you die from a snake bite or bee sting is 100,000 to 1.So you are 180 to 1,200 times more likely to die from any of these two incidences than to win lottery.
And if none of this will convince you to stop playing lottery,then here is a final fact.If you drive 10 miles to buy your lottery ticket,It is 3 to 20 times more likely for you to be killed in a car accident along the way than to win jackpot.
Then your future in FX is assured… you most certainly will get better odds. Just make sure you play the trades that have better odds of a favourable outcome. :D:D
The odds are 14 million to one of scooping the jackpot. Statistically you are twice as likely to get struck by lightenening on the way home from buying your ticket. 