Those who started like most newbies, but after years of practice, spent money etc. finally got it?
Those who learned a system and emotionlessly implemented it day by day, trady by trade and made constant profits?
Institutional traders who were taught by the company how to trade?
Programmers who developed a profitable trade robot (expert adviser) and don’t need to do anything, just cash the profits?
I am especially interested in professional traders. If they can make huge profits for the company, why don’t they start on their own?
I worked for some time as a headhunter, met some of those pro traders. Most were burned out at the age of 40 and not able to do any other job and NG for trading any more. Olthough they had huge income, they had no savings, since they spent all.
Some of them were very good though and made lots of money for their companies.
Another thing: this year and a few years ago there were 2 institutional traders who made huge losses that it was international news. It means not all of them are that good.
Any one really, really:eek: successful on this forum?
A major reason why a lot of successful institutional traders never have the same success as individuals is that their access to information isn’t the same and their speed of execution is less - not to mention the advantages a good trader can generate from the size of trading they do. It’s basically the flip side of why a lot of really good individual traders would never cut it as institutional ones. The environment is very different. Institutional traders are trained in sometimes very specific things which don’t easily carryover.
Institutional traders [I]do[/I] strike out on their own, quite often in fact. And the best ones in the private sector go on to manage private pools of capital.
If I were to sum up the keys to success, it would be building a system which fits [U]you[/U] ([system being something which accounts for money management and psychology - and [I]not[/I] just a set of entry & exit rules like most “systems” being sold out there are), and then going on to trade that system for 2000-4000 some trades in order to fine tune it and build your confidence. Yes, it’s work, and it takes [I]patience[/I]. But it’s worth it.
ahaha 5% is like a lot of plp if u think about it. therea are tens of millions of people trading forex, thats how forex is trading like trillions of dollars a day? if there are ten million traders in the world, 5% is like ermmm 500000 people, now thats ALOT. do you see a lot of people driving lambos and a lot of 24 million dollar yatch? lol and the owners, none of them are forex traders. and btw if there are more money and slower execution, that means you will have an affect on the market. that is how warren buffet makes money, he sends out info and then invests a lot of money which turns the market around( at the right times) which means the market traders will then follow which results in him profiting. if you were a institutional trader and you have a lot of money at your disposal that means you will have more affect on the market. for example when a pair is almost at the top and retracing, you start selling which means people will see the pair going down a little more that normal, which means they are going to sell too which means more and more traders see the turn over and they sell too which results in a chain reaction to some point when people are starting to buy again. I would really rather have an affect on the market rather than just seeing the market move and trying to predict what other people would do… after a year of forex trading and forum skining I discovered that a lot of people are trying to get rich from forex. most of them has the patience and stuff but hey forex takes experience and MOST OF ALL BRAINS, you have to ask your self are you smarter that most of the traders? I mean 95% of the traders loose are they all stupid and dont know how to manage their money? I dont think so since this is all common sense. so why is there only 5% of the traders wining? after a long time of research and thinking I discovered its because there are SMARTASSES LIKE TRADE IT etc etc.(his the only smartass I know) when trading forex brain matters the most, people say that there is a pattern in forex and stuff and if you get a good system and a good execution plan you will profit. THEN Y IS THERE 95% LOOSING??? ask your self that question, WHY? after a long time of thinking I came up with a complicated answer. first of all there are smartasses like trade it :). now why is that so because they know that you only enter a trade it you have a reason to do so. which means that they will trade as much as they think they should, which is a lot since the market has a lot of fake outs and stuff. now the pros say that you only do sometime(execute a trade) if there isa reason to do so, ok then after a fall there should be a rise which could be a turning point because the sellers think the price is low enough so they take profit and the buyers think that the price is low enough for them to buy again. which results in a small turn, OOOO THATS A TRADING OPPOTUNITY, so the smart asses like Trade it goes in and they make a few pips in an hour or so. then the market start falling again but they think its gona go back up again, NOW IT U HAVE A GOOD TRADING SYSTEM IT WILL at a fair % of the times, but smartasses like trade it doesn’t so he starts to loose money but hey the pros told us to stay calm right??? so he stays calm and looses all his money untill his stop loss. haha thats what happens to him most of the time and when he wins money HE GETS EXCITED! but hey u gota stay calm( which means less thinking annd even if he does think his only a smart ass who just do what the pros say, now I’m not saying that the pros are wrong they are REALLY REALLY RIGHT!, but hey it takes brain to take in complicated stuff like that and he doesn’t have any so…) right so he stays calm and misses the exit time and so he looses most of his profit. haha this is what happens to most newbi traders, like me but I’m not as stupid and newb as Trade it even though his a junior, I just started doing this( posting). anyways forex is not something to get rich in at all I discovered, unless if YOUR REALLY SMART and is willing to spend a LONG TIME on the computer which results in ermm really big headachs etc. that is why 95% of the traders loose and the 5% that wins, they win small, y because the market is freaking confusing, you have to make logic out of it bit by bit and if you can keep up with it then you must be really smart and experienced and then you must have a big headach at the end. BUT I heard that there are forex traders who dont work that extreme and they make millions a month or something. anyways dont listen to SMARTASSES like trade it (I dono y but I dont like him haha) since he always talk boo. oh ye btw a lot of really profitable forex traders start businesses, so ermm ye business is like the safe and smart way to get rich hahaha, after all, all the rich plp with lambos and yatch are big institution owners right? very few are actual forex traders, like 1 in a billion? anyways i would like to see some disagreements so PLZ comment on me and also can you( who ever that decides to teach me something) plzzzzzz explain your point? cause I discovered smart asses like Trade it doesn’t even explain, he just starts talking stuff that you can find in babypips, I’ve read the babypips tuts like a lot of times so plz say logical stuff like BLack knight and the masters of this forum. OMG, THE ANSWER IS THAT WE NEWBS ARE THE LOOSERS AND THEM THE MASTERS ARE THE PROFIT PLP!!! OMG THATS IT! hahaha lol jks they might loose too… sry but hey there is that possibility. AND ALSO IF THEY SAY THEIR REALLY REALLY SUCCESSFUL AND LIKE THEY MADE A MILLION BUCKS IN A YEAR WITH LIKE 10K FLAME HIM AND SAY THAT HIS A FLUKE AND HIS GOT NO COMMON SENSE. lol I wish I was that fluke. Oh ye I forgot there is this guy apparently who deposited 2k into fxsol and made like a mil in 4 months. I was WTF but ye its true so dont flame me on that it is true. thats like 500 times in 4 months… lucky… I’m so jealous. lol and some smart ass is gona say something like : " well that is higly unlikely because that would mean he will have to profit in all his trades in the period, which is extremely rare because he will have to execute more that 500 trades. If you want to fluke it like him then your most likely to loose all your money which is not what I want to see." sry if I didn’t say that some smartass is gona say it and I feel better if I say it hahaha BTW who ever that is gona say that GET REAL YOU SMART ASS WHAT UR NOT JEALOUS AND DONT WANT TO FLUKE IT??? the you hear the smartass saying something like “I’d rather be long term profitable than short term” well he already withdrawn half a mill and think his gona buy something or start a business. I hope his smart and starts a stabl business cause thats like a IN YOUR FACE THING to those smart asses. HIGH RISK TRADERS ARE NOT STUPID, their just ermmmmmm really want to get rich quick hahaha which is ermm highly unlikely. which can’t really be stupidity because they have to be smart to think that way… ummmm ok I’m not making sense but ye dont post any smart ass comments plzzzzz EXPLAIN UR POINT BTW THANKS TO BLACK KNIGHT FOR HIS IDEA OF MICRO LOTS ITS AWSOME!!! I TALK TOO MUCH!! AHAHA
We have a free chat room for traders (along with lots of other free goodies), but the powers-that-be here don’t allow people to post links, even if it helps you and doesn’t cost anything. Perhaps visit Google and do a search for “black knight forex”?
David Smith of Olint Corporation has been averaging 10% a year for several years now and trades about 700 million a month. In my opinion he’s one of the best in the business.
George Soros is widely acknowledged as [I]the[/I] best ever, maintaining a lifetime average of 31% over 37 years of active trading. That’s [I]annually[/I], by the way, not monthly.
The problem with all the people who claim to be making spectacular figures such as 300% or even 700% is they generally stop posting the next month, when they [I]lose[/I] 300%.
How on earth did you find this 10 years deceased thread?
There are other, more recent threads that answer your question, usually approaching it from the “90/95% failures” angle
so he starts to loose money but hey the pros told us to stay calm right??? so he stays calm and looses all his money untill his stop loss. haha thats what happens to him most of the time and when he wins money HE GETS EXCITED! but hey u gota stay calm( which means less thinking annd even if he does think his only a smart ass who just do what the pros say, now I’m not saying that the pros are wrong they are REALLY REALLY RIGHT!, but hey it takes brain to take in complicated stuff like that and he doesn’t have any so…) right so he stays calm and misses the exit time and so he looses most of his profit. haha this is what happens to most newbi traders, like me but I’m not as stupid and newb as Trade it even though his a junior, I just started doing this( posting). anyways forex is not something to get rich in at all I discovered, unless if YOUR REALLY SMART and is willing to spend a LONG TIME on the computer which results in ermm really big headachs etc. that is why 95% of the traders loose and the 5% that wins, they win small, y because the market is freaking confusing, you have to make logic out of it bit by bit and if you can keep up with it then you must be really smart and experienced and then you must have a big headach at the end. BUT I heard that there are forex traders who dont work that extreme and they make millions a month or something. anyways dont listen to SMARTASSES like trade it (I dono y but I dont like him haha) since he always talk boo. oh ye btw a lot of really profitable forex traders start businesses, so ermm ye business is like the safe and smart way to get rich hahaha, after all, all the rich plp with lambos and yatch are big institution owners right? very few are actual forex traders, like 1 in a billion? anyways i would like to see some disagreements so PLZ comment on me and also can you( who ever that decides to teach me something) plzzzzzz explain your point? cause I discovered smart asses like Trade it doesn’t even explain, he just starts talking stuff that you can find in babypips, I’ve read the babypips tuts like a lot of times so plz say logical stuff like BLack knight and the masters of this forum. OMG, THE ANSWER IS THAT WE NEWBS ARE THE LOOSERS AND THEM THE MASTERS ARE THE PROFIT PLP!!! OMG THATS IT! hahaha lol jks they might loose too… sry but hey there is that possibility. AND ALSO IF THEY SAY THEIR REALLY REALLY SUCCESSFUL AND LIKE THEY MADE A MILLION BUCKS IN A YEAR WITH LIKE 10K FLAME HIM AND SAY THAT HIS A FLUKE AND HIS GOT NO COMMON SENSE. lol I wish I was that fluke. Oh ye I forgot there is this guy apparently who deposited 2k into fxsol and made like a mil in 4 months. I was WTF but ye its true so dont flame me on that it is true. thats like 500 times in 4 months… lucky… I’m so jealous. lol and some smart ass is gona say something like : " well that is higly unlikely because that would mean he will have to profit in all his trades in the period, which is extremely rare because he will have to execute more that 500 trades. If you want to fluke it like him then your most likely to loose all your money which is not what I want to see." sry if I didn’t say that some smartass is gona say it and I feel better if I say it hahaha BTW who ever that is gona say that GET REAL YOU SMART ASS WHAT UR NOT JEALOUS AND DONT WANT TO FLUKE IT??? the you hear the smartass saying something like “I’d rather be long term profitable than short term” well he already withdrawn half a mill and think his gona buy something or start a business. I hope his smart and starts a stabl business cause thats like a IN YOUR FACE THING to those smart asses. HIGH RISK TRADERS ARE NOT STUPID, their just ermmmmmm really want to get rich quick hahaha which is ermm highly unlikely. which can’t really be stupidity because they have to be smart to think that way… ummmm ok I’m not making sense but ye dont post any smart ass comments plzzzzz EXPLAIN UR POINT BTW THANKS TO BLACK KNIGHT FOR HIS IDEA OF MICRO LOTS ITS AWSOME!!! I TALK TOO MUCH!! AHAHA