Lost hope to win in the forex deadly game - page 9
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
4 years? - You're lucky, crazybunny. I never broke even, nor did I make any profit, but I made bigger and smaller losses, till I finally lost all my money in less than 8 months.
Forex is fascinating. It tricks you into thinking that you are a "serious investor" while it's nothing but gambling against "noise" like someone else stated on this thread. It achieves this apparent seriousness by using tons of pseudo-scientific terms (indicators, oscillators, exponential moving averages, cci, stochastics, heiken ashi, price action, etc..) which sound very intimidating. Not to mention the "Fundamentals". Man, those are quite a serious thing ..
You know, gambling is for the "simple" guys, but we, the sophisticated intelligent people need something more complex, something we can be admired for beeing dealing with, we need ... forex (now doesn't it even sound important?)
Those smart guys who play to hide a coin under one of three cups (you can find them in any major city), and challenge you to bet for the cup under which the coin is hidden, will always trick you out, but you already knew that, right? I guess you even felt some kind of pity for the incautious who entered their game, thnking that it couldn't be that difficult to win. You knew they would lose their money, right? But then, you knew too, that it wouldn't make any sense to alert them, because they wouldn't listen to you anyway, right? Because they are waay too simple to understand that. We, on the other side, wouldn't fall into that trap, because we are smart, we are intelligent.
Well, that's why they came up with retail forex. That IS exactly the same game. Because smart people need to be tricked out too (otherwise, where would be social justice? And BTW, the additional liquidity provided by the ever losing retail traders is always welcome and even necessary for the banks, corporations and governments who interchange their currencies on the interbank market)
So, take it easy, because for every big disaster (yours) there's a bigger one (mine). Don't know if this helps, but for me it works. I feel kind of a relief right now.
But, wait: As I read, many of the traders who lost their pants, resume trading as soon as they get a few cents to top up their accounts. Why do they do that, when they already know, they will lose it all again? Is it because they get encouraged ("don't ever give up" some people say throughout this thread) Will I do it? Will you do it? - There is a name (yes, a scientific, serious name) for that behaviour. It's called: ludopathy.
It makes no distinction between simple and smart guys, it just catches anyone who gets into its way. It's that simple. Some can cure themselves, some have to go to uncle doctor, and some are never aware of it.
I hope I can cure myself and give up. I hope it for you too. But, anyway, heads up, it's worse to be a serial killer (because you only kill yourself, and maybe some of your loved ones, but not the entire neighbourhood).
Cheerio.
PS: I hope everybody realizes the sarcasm, and nobody feels offended. I just needed to let this out, and I thought this was the right place. If not, please, please fogive me, I swear i won't do it any more (trading I mean).Hello...
Please, understand that i have a big respect for everyone here and for you too, i don't know you but i have nothing versus you, so what i will write now is nothing personal with you, but just with what you've wrote in your previous post (the one i've quoted).
Ok..
first of all, i've never ever read soo many bullshit all concentrated in one post, you are simply crazy!!
But there is a strong truth in all what you've written, for example about the "smart guys", that i think they are the liquidity providers, right?
That's very right what you've written, the key to be successful in trading is just there... you have to stop trading like a retail trader, and start to trade like a liquidity provider (smart guy), the market can be seen as a place where the bigs eat the littles (true!!), but it happen only because the littles are soo stupid and don't understand a shit, they came in the market thinking to be the big traders and give all their money to the real big traders, it's the jungle rule.
What i'm trying to say, is that forex is not a scam or anything like that, simply you have to change your mentality to start making some money, first of all market is not a war but it's simple a marketplace where you buy from a seller and sell to a buyer.
Now, the gambling against the "noise" is something you shouldn't do if you don't want to lose, what you call "noise" is just price moving from supports to resistances and viceversa, accumulate, distribute, doing it over and over again all the day everyday etc.
I think the main problem in the retail trading is that people see the market as a game where you have to spot which direction price will take, and if you are right you win.. if you are wrong you lose. Then with all the fancy indicators all with nice colors etc. it looks really like a videogame, while in truth is nothing more then a marketplace, it's not a game, you haven't to guess the direction of the next move to win, you have to make deals, like in any other business.
If you are not able to see it as a business, then you have to give up and find a "normal" job, the ones where you work 10hours a day, take a shit payout, stay under your boss decisions, etc.. and buy yourself a playstation or a xbox, where you can play some real videogames where your money are not involved :P
Hey when i write "you" i don't mean really you, there's nothing personal
Hoping to havn't offendend nobody, tnx
Hi,
You are right, I'm totally crazy, but I feel better now.
Just to avoid misunderstandings: when I talk about "retail forex", I mean the forex market available to the general public, like we know it nowadays. At its origins, the currency exchange market, the "original forex", as far as I know, was only available to the banks, not to the public.
I got that information from forexfactory, it seemed quite convincing, so I will believe these data are real history (I hope).
And, of course forex is not a scam, but many of the commercial products sold around forex, promising you paradise on earth, are scam. They target innocent, stupid people (like me), telling them there is no need to know nothing about forex, because this or that fantastic "Robot" or "system" will do it all for you and earn you tons of money. BS. Trading is a profession like any other, and you will have to learn quite a lot and put much effort into it, if you want to succeed. There's simply no shortcut. That's all.
I agree you are very correct, in fact retauk forex may be defined as a big scam.
look Forex scam - Wikipedia, the free encyclopedia for example
Brokers looks for new customers promising an easy business, they use phrases like "eurusd is easy to trade!" "work from home" "being rich" "trading is easy" and every other bullshit.
***The average individual foreign-exchange-trading victim loses about $15,000, according to CFTC records" according to The Wall Street Journal.[3] The North American Securities Administrators Association says that "off-exchange forex trading by retail investors is at best extremely risky, and at worst, outright fraud."***
I had "scammed" too, 5 years ago when i started trading i lost some money (big money for me) beliving that trading was an easy thing, and i think every successful trader in the world had losed many money before treat trading as a real business, understanding that it's not easy it's not a game.
But my point after all this, is that you don't need to work for a bank to be successful (many "istitutional" traders are part of the 95% of losers too!), you just need to study how the market work (yes it may take from 3 to 6 years, it's not soo easy) and trade accordingly.
It's a business like many other, do you know that 90% of restaurants fail within 2 years?
Near 90% of all non-trading-related businesses fail within some years, trading is not a special business, i see it as a normal commerce business, you buy and sell something to make a profit, some business buy and sell a product, some other buy and sell services, in trading you buy and sell contracts (it can be currencies contracts, commodities, indexes futures, stocks, etc..), the only difference is that transactions are dones within seconds with a mouse click, and it may looks like a game to somebody, and this is a big mistake...
Then there is also the leverage, that is a big devil, people use 100x leverage 200x leverage etc.. don't thinking how any transaction multiplied by 100x can impact their little capital, my friend this is a cruel business after all!
Market is cruel with the ones who don't know what they are doing
I know how you feel, it's just a part of the learning process, it happened to everybody.
But my point after all this, is that you don't need to work for a bank to be successful (many "istitutional" traders are part of the 95% of losers too!), you just need to study how the market work (yes it may take from 3 to 6 years, it's not soo easy) and trade accordingly.
Hehe, I'm afraid those 3 to 6 years are the problem. I don't feel so passionate about learning to trade. What appealed to me, was the idea of having it all done automatically on my PC (I like food, but I'm not so fond of cooking, if you know what I mean). That's why they (the scammers) had it easy with me. They targeted my laziness, and I was forced to admit once more that I still can't believe in fairy tales!
Thank you for commenting my posts. Maybe some day I'll think the whole thing over and ... open a restaurant!
maybe he could tell us which broker is BAD too !!
like "bureau de change" -- the people will not change your company for FREE
and brokers and people could withstand a huge SL -- try to take the fortune (treasure hunt for them) does contribute to it
Hehe, I'm afraid those 3 to 6 years are the problem. I don't feel so passionate about learning to trade. What appealed to me, was the idea of having it all done automatically on my PC (I like food, but I'm not so fond of cooking, if you know what I mean). That's why they (the scammers) had it easy with me. They targeted my laziness, and I was forced to admit once more that I still can't believe in fairy tales!
you can try it -- by trial and error === and find a better broker that do respond to your strategy -- in term of , finish trade in how many secondds and how different your entry point, to the real price level that they give you (compare with another SIMULTANEOUS MT4 software) -- i.e. do not trust too much on pips spread shown
hope that the muscle memory in your brain -- work one day -- both daily and monthly profit shoudl be good indicator and your broker still response FAST -- when you WIN and when you LOSE (usually broker give you even worse widened pip spread when you LOST )
are you allowed to win ?!
This surely works, because of its statistical approach.
But you have to revisit periodically, currency behaviour changes when you least expect it (look at the recent crazy eurusd trend, for example).
Anyway, seems that an institution could work that way, because they have employees (busy bees) that can work out statistics full time. Hmmm..
will you guys stop it?
Can you all see that he's just out here looking for some fun, cos he has already given up some times ago. Don't waste your time trying to tell something he has no guts to go on.
one primitive way
one way to do it --- very frist step
with cross curency trading
with any template
you put a SL bigger and bigger, until you won't HIT The SL (stop loss)
-- at this point , you could take any profit (openly ) in your free will
then second step
with that fixed SL
--- you can increase your TP (take profit ) until , you won't have to watch the transactions , 45 minute after ENTRY
====
now , you will have fixed SL / TP for that x-currency pair
THINK -- whether you could stand SL and TP -- does it make sense to you -- to trade LIVE for real
==== this sound kindergarten and could take long -- but it is the nature of real traders and bankers doing
but you get a REAL PORTRAIT of the currency market
then , take half a year to measure the success rate of this SL / TP, the % success rate, see whether you could do it for real
===> if you think about to JUMP on any template from other people, then you could bounce bounce bounce