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Can YOU make money as a trader?

  • #81
  • Feb 10, 2018 9:47am Feb 10, 2018 9:47am
Quoting Mingary
{quote} How can you possibly compare a career in medicine or science to a passing fancy for the many who lose and quit and to the few that are affected with this "glorified" gambling addiction ? and i just love this one: " If you aren’t or can’t commit to that level of preparation and hard work, then try selling cars or selling insurance for a living." so, let's see. 99.99999999 % lose at thjjjis game because they did not try hard enough.

Great post.

The markets are Chaos This means price action is random

Yes markets trends so does roulette. The record of evens in a row was recorded in Germany 37 reds in a row.

This is a trend but roulette is, random just like Forex price action.

If there was a system that really works here. Why dont we know about it? Maybe work harder ?

If you work harder you can find this method ?
  • #82
  • Feb 10, 2018 9:52am Feb 10, 2018 9:52am
.... and there goes what had the makings of a good thread.
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #83
  • Feb 10, 2018 10:07am Feb 10, 2018 10:07am
Quoting GEfx
{quote} Your foolishness is getting boring. I didn't compare a career in medicine to trading. I said if you aren't smart enough or patient enough or mature enough to do other difficult things, you're likely not smart enough or patient enough or mature enough to be a trader. If you made a try at a career in medicine or science as a passing fancy, then that kinda proves the point that you're a fool. Same holds true with trading. If you've never tried something difficult and succeeded, then just consider your try/failure at trading to be your first...

"I didn't compare a career in medicine to trading"
Really ?
So what did you mean here:

"It rates right up there with rocket scientist, brain surgeon and professional athlete."

What does the "It" refer to ? Basket weaving ?

But anyway, you are comparing a "difficult thing" (rocket science, brain surgery) to placing bets on the euro ?
i would like to know how you can rationalize a comparison of a true field of research and applied science that benefits society to a gambling activity.
  • #84
  • Feb 10, 2018 11:15am Feb 10, 2018 11:15am
Quoting Mingary
{quote} "I didn't compare a career in medicine to trading" Really ? So what did you mean here: "It rates right up there with rocket scientist, brain surgeon and professional athlete." What does the "It" refer to ? Basket weaving ? But anyway, you are comparing a "difficult thing" (rocket science, brain surgery) to placing bets on the euro ? i would like to know how you can rationalize a comparison of a true field of research and applied science that benefits society to a gambling activity.
Let me dumb it down a little more for you. Trading successfully is really hard. It takes as much study, preparation and dedication as any other really difficult thing. Any idiot can cut open a brain, throw a baseball, suggest a new theory about the meaning of the universe, or know when to enter a trade. It takes brains, patience, maturity and dedication to successfully remove a tumor, throw a perfect 82 MPH breaking ball, provide mathematical support for your theory, and enter a successful trade. If you are a goof, you'll go to jail for cutting into someone's brain, you'll break your arm trying to throw a breaking ball, you'll look foolish proposing your stupid theory, and you'll lose thousands of dollars trying to trade. Maybe, before your next stupid post, you should reflect on all your past failures, and try to find the common elements in your failures. But the crystal clear fact is, you are a miserable failure at trading. And you are spreading your misery around here in thick layers.
  • #85
  • Feb 10, 2018 12:22pm Feb 10, 2018 12:22pm
Quoting corrman
Thanks for sharing that stuff. I also had extreme stuff happen. I was a maniac. Way back I had 3 days one month that I lost 5k each. My best day back then was only 2.5k and I only had one. I have lots of stories. I hit rock bottom and quit for good. Now everything is different, I'm trying to determine why, how, and exactly what so I'm going very carefully, but I'm also ending every single day ahead, but I don't focus on that, only improving and stuff.
Do you mind sharing your stories?
Luck Favors the Bold
  • #86
  • Feb 10, 2018 12:34pm Feb 10, 2018 12:34pm
Quoting GEfx
My answer to the question is: yes. If you are smart enough, patient enough, and mature enough, you should give forex trading a try. If not, you will likely fail, and then you’ll risk become a FF troll, blaming “retail forex industry professionals”for your failures. Successful trading is hard work, and requires more brains, maturity and character than most people have. It rates right up there with rocket scientist, brain surgeon and professional athlete. If you aren’t or can’t commit to that level of preparation and hard work, then try selling cars...
You’re very close to the truth. I’m studying medicine to become a surgeon and yes, what you’re calling “brains” is emotional and verbal/linguistic intelligence, which are very very useful to enroll in this career and stay in it lol, logical/mathematical intelligence is necessary and very important mostly for biochemistry etc but not as much for most of the other subjects such as anatomy, histology, etc. Now, for forex. I have been able to develop a simple and effective system. And although now it seems very easy thing for me to look at any chart and be able to determine where price has a higher probability of going next and being able to exploit that higher probability to my advantage, it wasn’t always like this. It took me about a year of searching for a working method in a pile of complete garbage (indicator laden chart strategies) to finally be able to understand what the true exploitable component is. From this search, what was most useful was being able to properly read and actually understand other traders writings. Chart time does help but you must know the theorical part before the practical part.
Grind until you no longer have to introduce yourself. 4:30am club
  • #87
  • Edited 2:04pm Feb 10, 2018 12:38pm | Edited 2:04pm
I will be opening a thread very soon to share a few important things which I’m sure will help, traders who can’t find their edge even after years of trial and error as well as complete noobs. Free as always, I do not own knowledge.
Grind until you no longer have to introduce yourself. 4:30am club
  • #88
  • Edited 12:59pm Feb 10, 2018 12:42pm | Edited 12:59pm
Quoting goose4
{quote} Great post. The markets are Chaos This means price action is random Yes markets trends so does roulette. The record of evens in a row was recorded in Germany 37 reds in a row. This is a trend but roulette is, random just like Forex price action. If there was a system that really works here. Why dont we know about it? Maybe work harder ? If you work harder you can find this method ?
trading forex is not compareable to roulette in important parts.
this mistakes many did already, they did calculate the restarting round percentage chance from roulette to forex, whats not restarting each round and has relation to last round /time/moves/news...... complete different math caluclation. so whenever someone telling you chance for price going up or down in the next days is 50%, run away because he is not smart, dont have a trading system or dont know math calculation. it is possible to say for this person the chance is 50%, that may be true, but because he calculated wrong makes it not true for other persons. but hard topic, many fail in such easy math and i would never ever tell someone to start trading at least when he dont know any basics possible, and this math is even one of the most basic things, there are math caluclations you realy need to study 1 week to get it correct.

now to answer your question "If there was a system that really works here. Why dont we know about it?". there is one easy reason:
if you heard about, many would trade it and it will not work any more. any system can only work until a special volume border, then you start you change your own signals and a circle is starting. when the strategy is public and many trade it and it has wins, many would know about and who would be your counterpart, who would like to do opposite trade when the chance to lose will be so high? so there are extrem high winning systems, but not public and all possible to trade until a special volume border you need to recalcuate often with your methods...
why do you think many systems and coaches are useless when teaching strategies. they know they tell useless stupid things, but they know they cant trade this shit any more with good wins, lets sell this garbage and earn much more with this and find idiots to sell this. and for coaches and seller a trader, who has not learned all bascis first , is a idiot and very easy victim, beginner and professionals, i did see so many professionals who did not even know all basics correct and failed, to funny always, you can tell them it will hapen and they have at least to learn the bascis math, they will not believe you and later always comeone and want to know why you did know it before . trading is so easy, but many like to do it so difficult, but on the other hand, trading is so easy, because so many like to do it the difficult way , funny circle many will not understand.

the thing is, this questions comes so often, why people dont like to learn basics in trading, then all this basic questions are so 100% easy to see and no fantasy can help not to see reality. in forum looks like 99,99% dont like reality, and want fantasy, but this is not really helpfull to win.
  • #89
  • Feb 10, 2018 12:46pm Feb 10, 2018 12:46pm
Quoting Mingary
{quote} How can you possibly compare a career in medicine or science to a passing fancy for the many who lose and quit and to the few that are affected with this "glorified" gambling addiction ? and i just love this one: " If you aren’t or can’t commit to that level of preparation and hard work, then try selling cars or selling insurance for a living." so, let's see. 99 % lose at this game because they don't try hard enough.
Do you think that statement is false? about a year ago this guy approached me (and paid me) to teach him the little I knew about forex. His plan was to make a lot of money with an account he never deposited money in. He used one of those special offers to lure traders in. So we tried some trades and the first few did good. He decided to take some trades on his own with increased risk, a few days later, he was desperate (with the money that was not his own to begin with). So we sat to talk about psychology. He thought that was all non sense and wanted to look for EAs. As a matter of fact, before we even started that is all he would talk about.

So think about this, you come to a market that is hard and you have to defy the odds, and you think you can become millionaire overnight without doing any work, but relying on a EA? Common.. People are lazy and always looking for the quick buck adventure. So yes, they don't try hard enough.

After a loss what do you do? place another trade? Do you ever go back to understand why things didnt work? (Im not talking about you, but traders in general).

Am I the best? No. I know I'm not. But I study a lot. I think losses are actually more valuable than winners. You can only learn when you realize you know nothing.

Now, I read a couple of your posts over the years and I actually have a lot of respect for you. As the other guy said, you seem to be frustrated with forex in general. I would like to know your story in the forex. Like did you pay to learn it, did you lose money? got scammed? This is an honest question. If you have the time to share that info that would be great.

Best of luck to you my friend.
Luck Favors the Bold
  • #91
  • Feb 10, 2018 2:03pm Feb 10, 2018 2:03pm
Quoting Artcool
I smell a scam popping up.
Are you talking about me? LMAO.
I don't recall myself selling anything here or anywhere for that matter.

I don't even have a thread. I have a journal, where I post my analysis from time to time.
In addition, I have a TradingView account where I place my trades, BEFORE they happen.
That surely sounds like a scam.

I can't blame you though. Look at this place, full of leeches and parasites.
I will leave at that, just be careful with the people you accuse, especially without evidence.

Best of luck to you.
Luck Favors the Bold
  • #92
  • Feb 10, 2018 2:26pm Feb 10, 2018 2:26pm
If we be honest with one another we all know that when there is a winning strategy, you won't be able to find it here. As selfish people are: you will only find people here that try to make an advantage of other's people work (people that dedicated many hours in learning the market).

I'm not trying to be rude, but spending your time here on this forum trying to get hold on other's people strategies is useless. Go figure it out yourselves. Not that it's any use anyways, because what person would place a profitable strategy here?
  • #94
  • Feb 10, 2018 3:52pm Feb 10, 2018 3:52pm
[quote=newbegger;10726487]
Sorry for the slow entry into your thread. I have just now started reading your thoughts and your comments certainly resonate with me.

SNB unpegging classic. I was lucky not to have any exposure when that happened as I used to trade USDCHF. I no longer trade CHF as it is actively managed by SNB and that is a game for insiders only.
I remember well the silent action and the aftermath of the SNB. I am with you and also stopped trading USDCHF. Fortunately I also had no CHF trades at that time.

I am starting to trade the USDJPY in small size again as the BOJ is not running stops anymore like they did 15 years ago.
Once again I agree with your take on the JPY and I also trade the USDJPY.

Thanks for taking your time to help others.
  • #95
  • Feb 10, 2018 4:28pm Feb 10, 2018 4:28pm
Quoting Fxmd
{quote} You’re very close to the truth. I’m studying medicine to become a surgeon and yes, what you’re calling “brains” is emotional and verbal/linguistic intelligence, which are very very useful to enroll in this career and stay in it lol, logical/mathematical intelligence is necessary and very important mostly for biochemistry etc but not as much for most of the other subjects such as anatomy, histology, etc. Now, for forex. I have been able to develop a simple and effective system. And although now it seems very easy thing for me to look at any...
Well done and well said. It takes a special set of personal traits and skills to succeed at difficult things. If someone has found success in one difficult field, they'll likely be better prepared to tackle other difficult things, since they are well aware that the road ahead is going to be difficult, too. Best wishes with your medical career and good trading!
  • #96
  • Feb 10, 2018 5:09pm Feb 10, 2018 5:09pm
Quoting nealpek
Sound familiar? -trading is easy -lots of money to be made -watch umpteen youtube videos -try rsi, macd, cci, oscillators, BB bands, 17 different sma's and ema's and -lose most trades, then -tweak all settings to find perfect combination, take trades again and -lose most trades, repeat the tweaking step 40-50 times, continue trading and -lose most trades, then decide to change approach, and -try market delta to gain edge and "see" inside the bar, place trades, and -lose most trades, then change approach and -try market profile, cuz little letters...
Exactly. No iterative refinement! No looking at the fundamental reasons for failure.
If you are good at something, never do it for free--Joker
  • #97
  • Feb 10, 2018 6:16pm Feb 10, 2018 6:16pm
Quoting Callitradar
{quote} Are you talking about me?
Did you just fart? Why would you otherwise think the smelly thing came out of you?!?
Maadik Hugiis. IQ 69.
  • #98
  • Feb 10, 2018 6:37pm Feb 10, 2018 6:37pm
Quoting MoneyZilla
{quote} Did you just fart? Why would you otherwise think the smelly thing came out of you?!?
Who else would he be referring to? In the previous post, I said I got paid by someone to help with their trading. Mind you, I wasn't selling anything. It was just a regular guy, friend of a friend that wanted to get started in Forex, which is why I said: "to teach him the little I knew about forex".

Anyway, I know for a fact he was referring to me. No matter. As I said before, I don't blame him.
Luck Favors the Bold
  • #99
  • Feb 10, 2018 6:43pm Feb 10, 2018 6:43pm
yes.

it's not hard, really. but it is all in your head though. the methods are out there, all you have to do is find them and compile it into something that works for your timeframe / lifestyle.
  • #100
  • Feb 10, 2018 8:02pm Feb 10, 2018 8:02pm
Great Thread ( Subscribed ) !

I also believe that the right mindset is key to successful Trading.

A Burning Desire + Persistence/Work + Faith = Success

Like you've said, sadly 90% can't bring up the discipline or have enough faith/courage to keep on going after having crashed 1 or 2 accounts.
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