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90% are loser ..why ?

andrewliau (andrewliau)
Nov 07 2019 at 15:49
17 posts
hello i am here to say my story , i trade since from OANDA to FXCM to some scam copy trade , to win the forex u need to stay focus and correct MM , put away emotional , SL is good thing , when we need surrender that trade position we also need a good reason to stop lost , our SL is broker TP point , nowday i trade with good MM , every 1000 usd mostly 0.01 lot , when trade went dd we have plenty of time layer or add position waiting the trade recover , till today i still learning , we learn together , GOOD LUCK and happy trading
regard
ANRDEW

niceGLer
Nov 07 2019 at 18:10
165 posts
togr posted:
finnishpension posted:
90% are loser in life it is not surprising that 90% also lose at Forex

Nope. Spread has nothing to do with your loss. With good broker spread is so small that you can become profitable in less than minute.

Poor trading skills
Greed
Lack of concentration
Emotions

These are the main problems of manual trader.


I just realised that normal market fluctuations get leveled out in the weekly time frame. News spikes, whipsaws etc. Gosh! I see a reason why people in general, apparently don't use stop losses.

There is a remarkable turn off for me trading with ECN or alike, in spite of low spread. Many times market makers have this negative balance protection and/or guaranteed stop loss.

niceGLer
Nov 07 2019 at 18:18
165 posts
steveday1976 posted:
finnishpension posted:
90% are loser in life it is not surprising that 90% also lose at Forex
, LOL, maybe a bit high but there are certainly a lot.

Look at the community outlook page, and see that there are 69% profitable accounts, and 30% non profitable.

Brokers state that abt. 70% are non-profitable, and abt. 30% profitable, thus we can conclude that Myfxbook traders are better than that in general.

Probably this winning/losing ratio follows the bell curve, again..


Professional4X
Nov 08 2019 at 00:36
1189 posts
niceGLer posted:
Spread is the main reason. Market plays are the second. If one opens arbitrarily positions, and closes them after 20 pip loss and profit, losses equal to spread :)

Other reasons are the ones mentioned above, I guess :)


Absurd...... Spread? Spread is generally irrelevant unless you're a scalper that requires very low spreads.

If that's the case, then you need to reconsider your trading strategy and get a better broker.

If it looks too good to be true, it's probably a scam! Let the buyer beware.
niceGLer
Nov 08 2019 at 10:57
165 posts
Professional4X posted:
niceGLer posted:
Spread is the main reason. Market plays are the second. If one opens arbitrarily positions, and closes them after 20 pip loss and profit, losses equal to spread :)

Other reasons are the ones mentioned above, I guess :)


Absurd...... Spread? Spread is generally irrelevant unless you're a scalper that requires very low spreads.

If that's the case, then you need to reconsider your trading strategy and get a better broker.

Let me clarify this statement. Mathematically, if someone opens arbitrarily equal number of trades and closes them in either 20 pip profit or 20 pip loss that results in net loss that equals to the amount of spread. So forex, from starting point is not zero sum game, it has a negative expected value.

Now, as a beginner an individual has no luxury of low (negligible) spreads. That results an average spread of 1 to 2 pips per trade execution. That means a net loss of 2-4 pip per each winning and losing trade (spread is taken two times).

That forces an individual to move to a higher time frame (a reason why it is instructed to trade no longer time frame than 1H).

I still claim that spread and market fluctuations play a major role, why some people don't succeed in trading forex.

Spread might not play a role in 4H, 1D or W time frame, that is right.

Lucatrader76 (Lucatrader76)
Nov 08 2019 at 12:49
3 posts
because they use PA

niceGLer
Nov 08 2019 at 13:00
165 posts
Sigh.. I miss that 'edit'-button.. My intention was to say that generally it is advised to trade in longer time frames, not in the shorter time frames. Generally, 1H time frame is an intermediary between longer, and shorter time frames. This general rule of thumb is in my opinion a direct result of spread. Just plot both bid, and ask lines in MT4 window, and look in which kind of proportion the spread is related to one individual candle.

ratou11 (ratou11)
Nov 09 2019 at 19:46
43 posts
Professional4X posted:
niceGLer posted:
Spread is the main reason. Market plays are the second. If one opens arbitrarily positions, and closes them after 20 pip loss and profit, losses equal to spread :)

Other reasons are the ones mentioned above, I guess :)


Absurd...... Spread? Spread is generally irrelevant unless you're a scalper that requires very low spreads.

If that's the case, then you need to reconsider your trading strategy and get a better broker.
Indeed, I can hardly see how spreads would be preventing someone from being profitable, other than from very tight scalping.

ratou11 (ratou11)
Nov 09 2019 at 19:47
43 posts
EliteCapital1 posted:
Forex is a long term game not get rich quick system. I am the proof of that. when I started i traded in short time mind set and I made lot of money. But lost all of it. Then I started to look in long term goal and changed my strategy that way. I have not looked back since 2016.
This. Do not hesitate to cut losses. Always look for the long term.

aussimoney
Nov 10 2019 at 09:01
2 posts
most have lost the plot , learning is the key to winning most are just greedy they see the big dollars before they learn ,

wealth is important but health is more important
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