I hope you all are doing great!
I was reading a topic today, and I wanted to create a topic regarding that!
Let’s talk about our unpopular opinions in the forex market; it doesn’t matter in which area it is! Just think about it and write it down!
Mine? USDJPY is way better to trade than EURUSD!
(Margaret is sitting here and waiting for possible fights here )
I dont have any but im sure flamingo will comment: mt4 and mt5 are not good platforms
Hope you’re doing fantastic too. Let’s dive into unpopular opinions in the market and get those keyboards fired up! So, here’s mine: I believe trading forex while wearing a lucky pair of socks guarantees success! Now, don’t start a sock war, folks!
MT5 is far superior in all aspects.
No. They both suck. CTrader is so so so much better. I’m still using MT5 but will change when I can be bothered.
Another unpopular opinion… you won’t make millions doing this
CTrader takes so much space and volume than any of the MTs, while not go for easy-go platforms.
Yes USDJPY is way better to trade than EURUSD, but EURUSD is much more way better to trade than USDJPY;
now i got you at that yikes.
Training is good value for money.
While fundamental trading can be a good and helpful option it is overrated!
I used to think about it a lot (especially here and about gold) and finally I got the point that the market is already efficient and most fundamental information is priced in! The websites may be checked for significant news, but overall, they are not that helpful at the moment.
(My unpopular opinion)
Trading is the hardest job in the world!
I don’t know if it is a popular one or an unpopular one but it is.
Trading is tough! It’s a demanding job that requires knowledge, skills, and nerves of steel. I can get where you are coming from but honestly, hardest job ???
My unpopular opinion? Well…
It is much more efficient, healthy and quicker for most retail traders to withdraw their equity and pour it down the drain than to agonisingly watch it slowly drip-feed into your broker’s pocket… Well you did ask!
PS I am not sure I really believe my opinion here but the lowsy success rate figures do suggest something of the kind!
OK, here is mine…
After lots of statistical analysis I can confirm that all of the currency pairs follow a “random walk” and are not predictable at all. This means all of the indicators that use historical data (basically all of them) do not help as nothing can predict the way the pairs are going to go. This is why all indicators and systems win some and lose some. It is also why all systems are accurate for a while as their calculations line up with the random nature of the charts. This is also why money management is so important as it is one of the few areas we can control.