The truth of Forex on the impact of people

To sum up, there is no way to profit from Forex permanently just while they are in an illusion… Advice you accept

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How can you know that it is impossible to profit from forex?

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It’s very possible to profit from forex if you have a plan, you stick to it, have profitable strategies, and have a risk management strategy that will protect you from blowing your account.

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There is nothing like obvious in Forex; it’s all about the probabilities! And don’t expect 100% profit here!

Actually, trading skill is important here! If you are trading with an ordinary trading skill, then your trading plan has no value actually!

Don’t do me like that :joy: :joy: I get you but I wasn’t only referring to a trading plan also the other aspects that I mentioned.

And I totally agree with you a trading skill is crucial but I think you get it over time as you trade and get more experience.

You can’t just start with a trading skill, but you can start with a plan and as you make mistakes you learn, and you are able to formulate better plans and then you will have mastered your trading skills.

This is such a valid point; a good trading strategy can help us a lot! But as you know, good trading strategies are not available here & there! It takes time to build up!

Confessions of a trader…
A place where you can anonymously post your trading struggles

https://confessionsofatrader.com/

5 years of comments profiling the impact Forex has had on some traders…
Very interesting read if you take your time and process some of these comments.

Not a good read for the faint of heart…

Yes, it was an interesting read! However, I got the impression that most of these (horror) stories highlight the difference between traders and gamblers. But whatever it is, it again shows (just like the published 70-80% failure rates) that trading is very difficult even though in principle it is so easy, afterall, prices just go and down, don’t they? :slight_smile:

But the clear conclusion ,as usual, it that the failure cause is in the person and not the market.

This is not totally surprising if you think that we are all geared towards developing strategies and techniques based on logical, analytical, and methodical processes and then applying these strategies to markets that are volatile, irrational, and erratic in their behaviour. This is like trying to fit a square peg into the round hole.

And this is further enphasised when most traders seem to work with very short timeframes which is like trying to determine which way the tide is flowing by looking microscopically at just the myriad of ripples on the surface.

It can be done but “how” takes time…

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You seem convinced. Good luck in your future endeavors.

Are you speaking from experience? :thinking: Cause it’s true that not everyone take profits from Forex. But I wouldn’t say there’s NO WAY. :thinking:

You have to diligent and passionate about trading otherwise you can’t win much from Forex trading.

You need to dive into how they trade behind the retail scene. Otherwise you are moving in a system that is bound to fail. The market is manipulated.

it possible to make profits from forex, it just not happening to majority of people.

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@SMIfx - You need to give a bit of evidence or at least explanation in order to be credible with this.

ICT his Youtube channel is filled with it :muscle:
Especially since he is uploading his private mentorship videos now. These videos will be very long, but worth it. It is free so definitely worth a shot.