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The Main reason Why Forex Traders Fails.

PipGnostic
TheCyclist
Jan 20 2012 at 16:09
724 messages
PipGnostic
TheCyclist
Jan 20 2012 at 16:10
724 messages
Arsehole is a pro spammer.

PipGnostic
TheCyclist
Jan 20 2012 at 16:25
724 messages
'
08-10-2011 03:57 PM - permalink
MaggieMay
Hi,
 Thanks for signing up to promote my online gaming goldmine. This report deals basically with social gaming which is a massively growing industry. Welcome aboard and lets hit the jackpot!!
 Best,
 Maggie'

PipGnostic
TheCyclist
Jan 20 2012 at 16:26
724 messages

07-08-2011 09:34 AM - permalink
DawnMarie
Thanks so much for promoting Offline Video Virgin - If you make 50 or more sales, I'll personally write the sales copy for your next WSO!

 One affiliate already has 90 sales, so it can definitely be done.

 Are you up to the challenge? :-)
 -DawnMarie

vp730
Jan 21 2012 at 16:17
3 messages
Most forex traders fail because they think their trading method has an edge, while in fact there's none. Psychology, patience and discipline are the buzzwords, however the crucial problem is most people don't know exactly what they're doing. But they are convinced they do. How can you patiently wait for a setup or exit a trade optimally if you don't know exactly what you are waiting for? How can there be any discipline enforced if you excuse your mistakes with another buzzwords like 'discretion'?

If there's a sound, really working method with a real edge, there can't be a problem with psychology.
Any problems seemingly caused by psychology are just symptoms of uncertainty in trading.
Psychological aspects are secondary, not primary.
They are the effect, not the cause.

It's like driving a car, but much harder because the road changes while you are driving.
It's like taking a walk in an earthquake.
Hard to master, but not impossible. We're just used to a static or easily predictable environment too much.

I was supposing I had problems with psychology earlier,
whereas in fact, I didn't know how to trade.

just my 2¢

PipGnostic
TheCyclist
Jan 21 2012 at 17:09
724 messages
Amen....but you're bumping a web marketers thread. There's no topic here.

vp730
Jan 21 2012 at 17:30
3 messages
a-ha! checked the entire thread now. lol. thx!

Raiden
Jan 22 2012 at 01:34
244 messages
@ vp730
Well put, you've hit the nail on the head. I started my trading journey by signing up with a trainer. While I have no doubt about his sincerity, after a year of training under him, I began to observe that his technical system was flawed. It had to do with MA cross-overs and other indicators. When questioned about it by students, he would get a little riled up and give many reasons for why their trades failed.

You have to bear in mind that some of his students were engineers who could design and build a petroleum refinery from scratch, much less read a chart. The sad thing is that there were also less analytical folk, moms and pops that would basically have to rely solely in his guidance in this unforgiving industry.

I picked up mql4 and after a while, coded his system. It did not work. I spent another 3 weeks refining the code, trying to improve the entries/exits, built filters, etc... and got the win-loss ratio to 1:1. After that I was pretty much disillusioned.

I went back to his gatherings to see what I might have missed. Then I realised that he would always be describing entry setups using historical periods, where it is patently obvious that an entry condition was fulfilled. This is flawed because you can find as many scenarios where the same setup fails. And you must always test your system at the leading edge of the market, not on a historical period.

When questioned about the failed setups, he would go into defence mode and brush you off with a witty quip. Tragic thing is that I truly believe he is not a fraud, but that he could not see the flaws in his own system.

His system delivered no edge.

I reckon this also applies to what PipGnostic is saying, that if you get a mentor that leads you down the wrong path, you waste a lot of time and money.

I suppose also if Ezekiel did not sign off with 'Asia #1 Forex Mentor', he would just be expressing an opinion rather than implying he teaches this stuff to his mentorees. His post on the Oanda forum is also just positive psychology on taking affirmative action, I don't see the scam angle. The WSO marketing stuff is a little strange though. Granted, with the little that is known, I don't think he is qualified to teach, but let's give him the benefit of the doubt and let him prove himself.

Consistency above all.
PipGnostic
TheCyclist
Jan 22 2012 at 06:08
724 messages
Raiden,

Ezekiel doesn't mentor or trade, he is web marketer and this is just spam. He promotes other peoples product. Any product.


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