Its been 4 years or so since I traded FX, and I don't regret leaving this make believe world for one second. After spending thousands of hours studying/ learning all the ins and outs, I came to the conclusion that the only ones making money are the Brokers and System sellers. With the advent of the internet, retail forex was made available to the general public by brokers who saw an opportunity to tap into a fresh market...a nice easy market where money would come as easy as taking candy from a baby. Then came the system sellers ...another easy market where all they had to do was sell a dream! Well, it must be working because there seems to be more brokers and system sellers today than there ever was.
The purpose of this thread is not to bring up all the do's and don'ts of FX trading ( its been so long that I forget most of the jargon anyway) but rather to advise anyone contemplating/ or trading, that sustainable long term income from FX is just a dream. I don't believe that 95% of retail traders fail...I feel its more like 100% fail, but that's just my opinion. For all the time/aggravation ect.. you need to spend to even have a remote chance of coming out ahead in the long run( which I think is unrealistic anyway), you would be far better off working at MacDonalds a couple days a week, at minimum wage, rather than trading FX.
I thought after 4 years I would possibly give it a try again, but after reading all the BS here, and seeing all the newbies being sucked in , I will never trade FX again. There's much better ways of making money out there!
FOR THE RECORD: I did leave FX with a profit..thats when I realized that this was not sustainable and got out while I was ahead.
The purpose of this thread is not to bring up all the do's and don'ts of FX trading ( its been so long that I forget most of the jargon anyway) but rather to advise anyone contemplating/ or trading, that sustainable long term income from FX is just a dream. I don't believe that 95% of retail traders fail...I feel its more like 100% fail, but that's just my opinion. For all the time/aggravation ect.. you need to spend to even have a remote chance of coming out ahead in the long run( which I think is unrealistic anyway), you would be far better off working at MacDonalds a couple days a week, at minimum wage, rather than trading FX.
I thought after 4 years I would possibly give it a try again, but after reading all the BS here, and seeing all the newbies being sucked in , I will never trade FX again. There's much better ways of making money out there!
FOR THE RECORD: I did leave FX with a profit..thats when I realized that this was not sustainable and got out while I was ahead.