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NEW Traders beware the EASY ROAD to riches!

vontogr (togr)
Oct 13 2015 at 09:59
4862 posts
goyankees85 posted:
 Everyone things that the solution to their losing problems is taking a ¨long term approach¨ when the reality is no type of investment is indeed safe. A person could have money management down to science, but if they aren´t planning on taking a trade based on accuracy, then your long term goals will be hammered eventually in this market as no account could ever survive a a 2000 negative trade. Reason being, because a losing position tends to increase your bias towards that position, and you will continue to add to that losing position thus making your account fall deeper and deeper into the red.

 No thread, and I mean no thread online focuses on accurate entries. If people tried to get a trade in which say the base is make 10 before you ever lose 10 a person would clearly stumble apon some very interesting patterns which would make it a reality. The market is cyclical. The same patterns the market traded 10 years ago, it trades today. Until people start to realize that this market has a sweet spot, then they will continue to try to wager on tops and bottoms, and when those fail, they turn into negative 600 pip positions.

  Patience isn´t key, it´s a death sentence. If I take a position, and I am ok with going in red 50 pips, the reality is that is way to much because most pairs don´t even have a daily range of 50 pips. A person turns 300 or 600% profit, that person better withdraw it, because we are here to make money. It isn´t profit unless you withdraw it, and that is a money management practice that no one preaches, because it doesn´t benefit the brokers.


I see it quite opposite. If your system was able to do 600% profit why withdraw it. It could make you millionaire.

goyankees85
Oct 14 2015 at 06:21
118 posts
togr posted:
goyankees85 posted:
 Everyone things that the solution to their losing problems is taking a ¨long term approach¨ when the reality is no type of investment is indeed safe. A person could have money management down to science, but if they aren´t planning on taking a trade based on accuracy, then your long term goals will be hammered eventually in this market as no account could ever survive a a 2000 negative trade. Reason being, because a losing position tends to increase your bias towards that position, and you will continue to add to that losing position thus making your account fall deeper and deeper into the red.

 No thread, and I mean no thread online focuses on accurate entries. If people tried to get a trade in which say the base is make 10 before you ever lose 10 a person would clearly stumble apon some very interesting patterns which would make it a reality. The market is cyclical. The same patterns the market traded 10 years ago, it trades today. Until people start to realize that this market has a sweet spot, then they will continue to try to wager on tops and bottoms, and when those fail, they turn into negative 600 pip positions.

  Patience isn´t key, it´s a death sentence. If I take a position, and I am ok with going in red 50 pips, the reality is that is way to much because most pairs don´t even have a daily range of 50 pips. A person turns 300 or 600% profit, that person better withdraw it, because we are here to make money. It isn´t profit unless you withdraw it, and that is a money management practice that no one preaches, because it doesn´t benefit the brokers.


I see it quite opposite. If your system was able to do 600% profit why withdraw it. It could make you millionaire.

 The reality is I don't see why withdrawing would be a bad idea.... There has to come a point in your money management in which you withdraw. Simple minded, greedy thrill seekers deposit in forex, and try to take it to a million, and we all know how well that turns out! #ItIsntProfitUnlessYouWithdrawIt

My avatar explains "social trading" perfectly.
vontogr (togr)
Oct 14 2015 at 06:43
4862 posts
The main point of this topic.
If you want to become successful trader without hard work then just forget it. Otherwise you loose lot of money and time.

Stephen Nelson (sbnelson2005)
Oct 14 2015 at 10:12
41 posts
Ok, getting a bit off topic. I started this to try and give back to the new traders struggling. They have to become profitable before they can withdraw! Right?

vontogr (togr)
Oct 14 2015 at 10:20
4862 posts
sbnelson2005 posted:
Ok, getting a bit off topic. I started this to try and give back to the new traders struggling. They have to become profitable before they can withdraw! Right?

Indeed

goyankees85
Oct 14 2015 at 13:44
118 posts
sbnelson2005 posted:
Ok, getting a bit off topic. I started this to try and give back to the new traders struggling. They have to become profitable before they can withdraw! Right?

 
 That is correct, but you have not given them anything which can help them be good traders.If you truly want to help then speak about systems, price action, and entry accuracy.That to me should be what a person willing to help should focus on.

My avatar explains "social trading" perfectly.
vontogr (togr)
Oct 14 2015 at 15:27
4862 posts
goyankees85 posted:
sbnelson2005 posted:
Ok, getting a bit off topic. I started this to try and give back to the new traders struggling. They have to become profitable before they can withdraw! Right?

 
 That is correct, but you have not given them anything which can help them be good traders.If you truly want to help then speak about systems, price action, and entry accuracy.That to me should be what a person willing to help should focus on.

That's just part of the bigger image. Crucial is being focused, stick to the plan, don't be greedy. Particular knowledge analyses will come later with more practise.

goyankees85
Oct 15 2015 at 06:04
118 posts
togr posted:
goyankees85 posted:
sbnelson2005 posted:
Ok, getting a bit off topic. I started this to try and give back to the new traders struggling. They have to become profitable before they can withdraw! Right?

 
 That is correct, but you have not given them anything which can help them be good traders.If you truly want to help then speak about systems, price action, and entry accuracy.That to me should be what a person willing to help should focus on.

That's just part of the bigger image. Crucial is being focused, stick to the plan, don't be greedy. Particular knowledge analyses will come later with more practise.

 It is easier said then done. You have been trading for a long time, and you still happen to blow clients accounts. How do you explain that?

My avatar explains "social trading" perfectly.
vontogr (togr)
Oct 15 2015 at 07:48
4862 posts
goyankees85 posted:
togr posted:
goyankees85 posted:
sbnelson2005 posted:
Ok, getting a bit off topic. I started this to try and give back to the new traders struggling. They have to become profitable before they can withdraw! Right?

 
 That is correct, but you have not given them anything which can help them be good traders.If you truly want to help then speak about systems, price action, and entry accuracy.That to me should be what a person willing to help should focus on.

That's just part of the bigger image. Crucial is being focused, stick to the plan, don't be greedy. Particular knowledge analyses will come later with more practise.

 It is easier said then done. You have been trading for a long time, and you still happen to blow clients accounts. How do you explain that?


I am not here to explain anything but if I were to I would just say that my clients get the same trades as my acoount e.g. https://www.myfxbook.com/members/togr/fxprimusc21/1364505
and make the same profit

HalleyFX
Oct 15 2015 at 10:00
83 posts
Didn't read everything due it went a bit off-topic.

But I will give new traders a small insight.

4 Reasons why people fail in trading:

1 = under-capital ; people deposit 500 and expect miracles
2 = Muppets ; 500 pounds to unlimited riches thinking, they want to do this in a short burst, so over leverage all their trades
3 = Risky EA's ; People buy dodgy stuff on the internet which has been promoted in a way to get quick riches. They use it for couple of weeks and post incredible results over 300% a month and after 9 weeks they disappear... Build your own EA, I would say!!
If your EA is working you don't have to sell it but manage accounts with them.
 4 = No discipline ; when it is not going to happen, it will not happen, so close that trade which is going horrid wrong.

I manage accounts, multiple (70+ clients) with significant equity. In case you want to manage accounts you don't need to promote nothing on the internet. Do your family and friends, you will get quick a strong reputation in your circle and clients will come very quickly after that.

I strongly recommend trading yourself for a minimum 6 - 8 months before taking this decision to manage accounts!

And remember when trading your alone on an island and you need to survive!! forget what you read or said ( don't even listen to your wife) and follow your path and strategies!

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