Forex - Who is going to jump in?

[euros123dotcom]

Its a wealth transfer game, your loss is someone else's gain, that being said, 95% of traders aren't successfull, and almost all beginners blow there accounts really quick.

Interesting enough this rule of "95:5" applies to many areas of Life. Playing Golf, being an Actor, selling Pizzas, heck even girls getting naked on Chaturbate have to experience that (look at the stats: 5% of the girls make the big money, all the others are just getting goose bumps and freezing their ass off).

Don't know why, but this seem to be some universal law of the universe. I might be wrong though.

 

[iki]

i think you can make more money from betting single matches any sport you love

 

[rob1977]

Forex is relatively easy in theory. There are mathematical certainties involved.

The one failing is human beings. In order to capitalise on mathematical certainties you need to understand the maths. Very few humans do.

You also have to follow the mathematical rules robotically. Humans are not robots.

If you fall outside the robotic parameters you have to be utterly emotionless in order to continue without falling out with the parameters again. Humans have emotion.

With those three human flaws most traders will fail.

 

[Dj Co2]

Interesting enough this rule of "95:5" applies to many areas of Life. Playing Golf, being an Actor, selling Pizzas, heck even girls getting naked on Chaturbate have to experience that (look at the stats: 5% of the girls make the big money, all the others are just getting goose bumps and freezing their ass off).

Don't know why, but this seem to be some universal law of the universe. I might be wrong though.

Those are the 5% people that keep on pushing towards their goal no matter what

i think you can make more money from betting single matches any sport you love

You're kidding right?

Forex is relatively easy in theory. There are mathematical certainties involved.

The one failing is human beings. In order to capitalise on mathematical certainties you need to understand the maths. Very few humans do.

You also have to follow the mathematical rules robotically. Humans are not robots.

If you fall outside the robotic parameters you have to be utterly emotionless in order to continue without falling out with the parameters again. Humans have emotion.

With those three human flaws most traders will fail.

That's what charting indicators are for. You don't have to do everything yourself but for that you actually have to know what you need to do. There's a lot of research involved with everything, take seo for example, you have to read and apply then read some more again and apply it to get some results.

 

[Cryptocurrency]

Forex is gambling. Get out while you're ahead, and don't get too greedy.

 

[iki]

im not kidding he is not george soros, forex is 95% traders lose, 5% win litlle money 1% win enormous profits but thats my oppinion.
one will need so much time years of study, expirience to learn forex and till then will lose alot of money too, and with betting he can start with maybe 1k$ and to make some nice profits monthly ofcourse if patient, doing some analyses,tracking.. and not throwing money on anything without clue.
i just want to say its similar for me, both is gamble and risk involved.
i personally do betting as hobby and very happy with it on long term
op decision what to do anyway wish you best with forex or else good luck!
end of this discussion for me

 

[Bubbas]

Example of low-high leverage:
There are two accounts: one with a leverage 1: 100, other with a levarage 1: 500. On both accounts we opened on identical position, we will say purchase of EURUSD with a plumb line 0.01.
Question: on what account anymore risk? Answer: a risk is identical.
It admits we lost 100 points, that at a plumb line 0.01 10$ will make, really the sum of loss will increase or will diminish from the level of credit shoulder? In no way.


In general, a large credit shoulder allows to open positions of largeness at presence of little facilities on an account. No more. If you use the adequate level of risk, carrying out a reasonable management a capital, then though for you credit shoulder 1: 100, though 1: 500 - it changes nothing.

We will bring a result - the size of credit shoulder in any way does not influence on the level of risk in trade. The size of positions that is opened by a trader determines the level of risk, and anymore nothing.

 

[mirrorer]

My advices:
1.Find a good broker,i mean really good one.Spend more time on this.
2.Trade naked price,without any indicator,learn to trade naked price,nothing else,you will thank me later.
3.Learn supply & demand,how it works and how to spot these zones into the charts
After 7 months of trading,i am at break even and winning slowly.
Take care.

 

[icex999]

There's been some really great advice on here so far....I've only played around with Forex...options are my game (beyond long-term holdings of course).

If anyone's interested in learning/talking options, I'd love to get into it and teach so shoot me a PM :-D


One quick Forex tip...anything AGAINST the Nikkei should be a profitable move through the rest of week. Japan is flailing too much for there not be a ton of volatility to capitalize on.

- ice

 

[mirrorer]

There's been some really great advice on here so far....I've only played around with Forex...options are my game (beyond long-term holdings of course).

If anyone's interested in learning/talking options, I'd love to get into it and teach so shoot me a PM :-D


One quick Forex tip...anything AGAINST the Nikkei should be a profitable move through the rest of week. Japan is flailing too much for there not be a ton of volatility to capitalize on.

- ice

If you trade activly,shot me a pm with your skype

 

[bartosimpsonio]

I got into Forex on a friend's suggestion, years ago(early 2000's). Craziest fucking thing I ever saw. One day I made 7%, the other I lost 10% and that's all I know about that, I got out.

It was easier back then, before 9/11 opening accounts and doing forex was trivial. With 9/11 and the permanent state of war everywhere, everything is more difficult.

 

[Dj Co2]

A little motivation for the people who are interested in trading forex

Take a look at the time, this trade was done in a matter of 2 minutes.

But it can be like this too

So it's both ways but at the end if you've got a good ROI then it's all okay.

 

[mirrorer]

price action trading can be very profitable, i agree. But i dont understand why you would not use indicators with it?
There is no reason not to use them, because they simply visualize the price action in whatever form you like

There is reason to NOT use them.This is my opinion however.The reason for me is because they are laggin indicators,all of them.What comes first,the price or the indicator?

P.S Ausie "crashed" hard , 90 pips in 5 minutes.
http://postimg.org/image/57ueun4sp/

 

[GreyKnight]

im not kidding he is not george soros, forex is 95% traders lose, 5% win litlle money 1% win enormous profits but thats my oppinion.
one will need so much time years of study, expirience to learn forex and till then will lose alot of money too, and with betting he can start with maybe 1k$ and to make some nice profits monthly ofcourse if patient, doing some analyses,tracking.. and not throwing money on anything without clue.
i just want to say its similar for me, both is gamble and risk involved.
i personally do betting as hobby and very happy with it on long term
op decision what to do anyway wish you best with forex or else good luck!
end of this discussion for me

Once I owned a forex broker company, and would like to say that your statement is 100% true.
70-90% of our loss (customer's gain) is done by only 4-5 man, opposed to 3-4 thousands of other customers.
And these men do trade big amount of money. They usually inject around $5,000,000. To get these type of people we must employ beautiful gold digger girls, you may laugh now but it's true.
How do we get our money? Customer's losses, of course. Most of them are mini accounts.

Forex is gambling. Get out while you're ahead, and don't get too greedy.

It's not gambling. It's a type of gambling that can be calculated.
More experience traders may have hunch, or feelings, before the indicators can predict something.

 

[Repulsor]

Well, I am reading everyone's suggestions and tips to put into practice. Well emotions.. I cant control my emotions even over the practice account. Patience will pay off. I will have to keep that in my mind always.

 

[euros123dotcom]

I traded for 6 months straight Binary Options (Forex) - only Put / Call trades. I developed one of the sexiest Straddle Strategies EVER - really. Made tons of Videos to document the trading style for myself. I was doubling my account every month or so. And then.....the fucking Broker started to delay my Trade entries. Or they would wait until I bought and once I wanted to put the Sell trade in, they would bring a message: "Too busy, entry not possible right now. Try again later." and such BULLSHIT.

I have everything filmed with Camtasia and even sent them one of the Videos, the answer? They fucking closed my account, told me to withdraw and trade elsewhere.

PS: I am not saying this to sell any strategy, matter of fact I will ignore questions about the strategy. I am just saying that Brokers are like Casinos - once you get ahead they WILL fuck you good and kick you to the curb.

I stopped trading activities in May 2013. It was a good run as long as it lasted. Unfortunately I didn't stash that money away and used it instead to pay off debt. So, I am back to square one: broke!

 

[mirrorer]

Well, I am reading everyone's suggestions and tips to put into practice. Well emotions.. I cant control my emotions even over the practice account. Patience will pay off. I will have to keep that in my mind always.

I traded for 6 months straight Binary Options (Forex) - only Put / Call trades. I developed one of the sexiest Straddle Strategies EVER - really. Made tons of Videos to document the trading style for myself. I was doubling my account every month or so. And then.....the fucking Broker started to delay my Trade entries. Or they would wait until I bought and once I wanted to put the Sell trade in, they would bring a message: "Too busy, entry not possible right now. Try again later." and such BULLSHIT.

I have everything filmed with Camtasia and even sent them one of the Videos, the answer? They fucking closed my account, told me to withdraw and trade elsewhere.

PS: I am not saying this to sell any strategy, matter of fact I will ignore questions about the strategy. I am just saying that Brokers are like Casinos - once you get ahead they WILL fuck you good and kick you to the curb.

I stopped trading activities in May 2013. It was a good run as long as it lasted. Unfortunately I didn't stash that money away and used it instead to pay off debt. So, I am back to square one: broke!

Binary options are pure scam,they are not regulated anywhere in some seruious finincial authorities.Instead,you can trade options/futures with CME listed brokers.

 

[mirrorer]

I traded for 6 months straight Binary Options (Forex) - only Put / Call trades. I developed one of the sexiest Straddle Strategies EVER - really. Made tons of Videos to document the trading style for myself. I was doubling my account every month or so. And then.....the fucking Broker started to delay my Trade entries. Or they would wait until I bought and once I wanted to put the Sell trade in, they would bring a message: "Too busy, entry not possible right now. Try again later." and such BULLSHIT.

I have everything filmed with Camtasia and even sent them one of the Videos, the answer? They fucking closed my account, told me to withdraw and trade elsewhere.

PS: I am not saying this to sell any strategy, matter of fact I will ignore questions about the strategy. I am just saying that Brokers are like Casinos - once you get ahead they WILL fuck you good and kick you to the curb.

I stopped trading activities in May 2013. It was a good run as long as it lasted. Unfortunately I didn't stash that money away and used it instead to pay off debt. So, I am back to square one: broke!

Most of brokers will do that,but if you select a good,regulated ECN / STP that passes the orders to the bank and don't hold it against you,then you should be fine.

 

[mirrorer]

Once I owned a forex broker company, and would like to say that your statement is 100% true.
70-90% of our loss (customer's gain) is done by only 4-5 man, opposed to 3-4 thousands of other customers.
And these men do trade big amount of money. They usually inject around $5,000,000. To get these type of people we must employ beautiful gold digger girls, you may laugh now but it's true.
How do we get our money? Customer's losses, of course. Most of them are mini accounts.



It's not gambling. It's a type of gambling that can be calculated.
More experience traders may have hunch, or feelings, before the indicators can predict something.

That's a choice. "Whitehat" last more and longer than "blachkhat seo"

 

[EpicApps]

Interesting to see so many IMers into forex trading. I see some comments about the use of indicators and my opinion is that they are a good and much needed tool, I have my own custom indicator I use, you should look into getting one made or find one you like but they are just guides.

The rest of my trading ideas come from watching the markets. That being said you should watch CNBC and or Bloomberg and understand whats going on in the markets. You need to get a handle on whats going on with the central banks. The Yen move last April is the perfect example any one paying attention to the BOJ made big money, myself included.

My suggestion is to find a good US based broker that is registered with NFA. That way you can check out their licence on the NFA and see what kind of complaints they've had, there are a ton of fly by night forex shops that will trade against you and hunt your stops.

And I saw someone mentioned algos, yes algos killed the retail broker and floor trader. Just watch CNBC when Rick Santeli give the bond reports from Chicago, the place is a ghost town compared to what it used to be.

And don't forget to pay yourself, if your making good profits then you should be making regular withdraws instead of adding on bigger positions. Good luck, glad I saw this thread, I've been busy and havent been trading for a while, now inspired to get back in as soon as I can clear my plate a bit.