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Is there really a profitable retail traders or lairs?
Oct 21, 2022 at 05:46
เป็นสมาชิกตั้งแต่ Jun 01, 2021
9 โพสต์
Please guys... Is Forex trading or any other instruments really worth spending your time on?
Is forex market really profitable as people use to say?
Is there really forex guru?
Can i rely on it as something that can earn me some income at the long run?
I need an honest answer please.
Thanks
Is forex market really profitable as people use to say?
Is there really forex guru?
Can i rely on it as something that can earn me some income at the long run?
I need an honest answer please.
Thanks
Successalways
Oct 21, 2022 at 07:52
เป็นสมาชิกตั้งแต่ Oct 12, 2016
860 โพสต์
The honest and clear answer is NO. You can't depend on anyone or even any system, EA or MAM/PAMM or signal service etc to make a passive monthly income as usually it is advertised by the forex brokers or service providers.
All such systems or services ultimately make money for the system developer or service providers while wiping out the balance of the retail trader now or later. This is the hard truth and many traders may disagree on this point, but I am saying this after more than 15 years of trading experience with unlimited trials and errors with unlimited highly sophisticated automated trading systems as well as manual trading system and because of some fundamental facts:
1.Forex market is designed for retail traders to loose so that the lost money will flow to the big players pockets who deal with few million USD to Billion USD and they usually make 2% to 5% per month which is also not guaranteed all the time. In this process, the retail forex brokers, signal providers, PAMM/MAM providers play a role in attracting traders to invest and loose ultimately once they have made enough profit. It is portrayed in websites that 95% of traders loose, but I can say that it is almost 99% of traders who loose and only 1% make might be making profit and also, not consistently every month or every year etc.
2.Irrespective of whichever strategy a trader uses the forex market adjusts itself to make it a zero sum game so that the strategy will either permanently fail or give a huge drawdown to wipe out the balance.
3.Forex trading is not a job. It's a risky business and so those who manage to survive in the market, then they sometimes make money in few years small or big depending on their risk taken and the markets and provided if they stay away during bad markets whether months or years, but there is no guarantee to make money consistently every month just like salary or passive income etc.
So all the fancy advertisements in various websites are just to accumulate enough buyers or investors before they wipe out the balance and then, change the EA name or service name etc and repeat. That may sound very hard for many forex traders, but that is the forex game!!!
All such systems or services ultimately make money for the system developer or service providers while wiping out the balance of the retail trader now or later. This is the hard truth and many traders may disagree on this point, but I am saying this after more than 15 years of trading experience with unlimited trials and errors with unlimited highly sophisticated automated trading systems as well as manual trading system and because of some fundamental facts:
1.Forex market is designed for retail traders to loose so that the lost money will flow to the big players pockets who deal with few million USD to Billion USD and they usually make 2% to 5% per month which is also not guaranteed all the time. In this process, the retail forex brokers, signal providers, PAMM/MAM providers play a role in attracting traders to invest and loose ultimately once they have made enough profit. It is portrayed in websites that 95% of traders loose, but I can say that it is almost 99% of traders who loose and only 1% make might be making profit and also, not consistently every month or every year etc.
2.Irrespective of whichever strategy a trader uses the forex market adjusts itself to make it a zero sum game so that the strategy will either permanently fail or give a huge drawdown to wipe out the balance.
3.Forex trading is not a job. It's a risky business and so those who manage to survive in the market, then they sometimes make money in few years small or big depending on their risk taken and the markets and provided if they stay away during bad markets whether months or years, but there is no guarantee to make money consistently every month just like salary or passive income etc.
So all the fancy advertisements in various websites are just to accumulate enough buyers or investors before they wipe out the balance and then, change the EA name or service name etc and repeat. That may sound very hard for many forex traders, but that is the forex game!!!
Artificial General Intelligence
Oct 21, 2022 at 12:02
เป็นสมาชิกตั้งแต่ Jun 01, 2021
9 โพสต์
Wow! I love this answer.
Thank you a lot.
But can we say Forex is a pure gambling? Maybe a professional one.
Then... IF it is a gambling, then it is not business for retail traders. But business for Big banks.
That means... It doesn't worth it spending one's time on right?
Or let's say if you one face it well. He can luckily be profitable.
Thank you a lot.
But can we say Forex is a pure gambling? Maybe a professional one.
Then... IF it is a gambling, then it is not business for retail traders. But business for Big banks.
That means... It doesn't worth it spending one's time on right?
Or let's say if you one face it well. He can luckily be profitable.
Successalways
Oct 21, 2022 at 14:10
เป็นสมาชิกตั้งแต่ Oct 12, 2016
860 โพสต์
I will not call forex as gambling from my point of view, but it might be called as gambling based on understanding of forex market by the regular retail traders. Forex is a business and so who understands it as business may make profit sometimes, but who understands it as a job will ultimately keep expecting for ever to make some money monthly basis and continue his loosing cycle month after month and year after year.
So understanding the forex market behavior is very important to make profit sometimes and not like the retail traders expecting 100% per month or 1000% per month etc for ever. Hardly maximum 5% per month on average can be possible if we consider a trading period of 6 to 12 months which is nothing for a retail trader if he invests few thousand dollars. Take example of top hedge funds like BlackRock or Renaissance etc and they even don't make money every year and sometimes they give large drawdown as well. So if someone is trying to just spend few thousand dollars and trying to make money consistently, he might be just gambling which I can say.
But in reality, gambling or business, all such terminology doesn't matter in forex. Understanding of forex market and surviving in the forex market, waiting for the right opportunity, making profit and avoiding bad markets are some of the tips someone can follow to make overall profit year after after without guarantee of course.
Finally, as a rule of thumb in forex, never invest in forex which you can't afford to loose. So in that context, someone can gamble and keep some hope using automated or semi-automated type of trading systems. These are good for trials and errors with small amount of money which should be okay to loose also just like gambling.
So understanding the forex market behavior is very important to make profit sometimes and not like the retail traders expecting 100% per month or 1000% per month etc for ever. Hardly maximum 5% per month on average can be possible if we consider a trading period of 6 to 12 months which is nothing for a retail trader if he invests few thousand dollars. Take example of top hedge funds like BlackRock or Renaissance etc and they even don't make money every year and sometimes they give large drawdown as well. So if someone is trying to just spend few thousand dollars and trying to make money consistently, he might be just gambling which I can say.
But in reality, gambling or business, all such terminology doesn't matter in forex. Understanding of forex market and surviving in the forex market, waiting for the right opportunity, making profit and avoiding bad markets are some of the tips someone can follow to make overall profit year after after without guarantee of course.
Finally, as a rule of thumb in forex, never invest in forex which you can't afford to loose. So in that context, someone can gamble and keep some hope using automated or semi-automated type of trading systems. These are good for trials and errors with small amount of money which should be okay to loose also just like gambling.
Artificial General Intelligence
เป็นสมาชิกตั้งแต่ Oct 26, 2021
1 โพสต์
Oct 22, 2022 at 20:53
เป็นสมาชิกตั้งแต่ Oct 26, 2021
1 โพสต์
What is the full meaning of gambling?
gambling, the betting or staking of something of value, with consciousness of risk and hope of gain, on the outcome of a game, a contest, or an uncertain event whose result may be determined by chance or accident or have an unexpected result by reason of the bettor's miscalculation. slot machine.
Having said that, (or copy paste it :-). What if you are the casino and have the odds on your side, is it still gambling then?
What about the pro pokerplayers, they have loosing streaks as well, but in the long run they are profitable.
The best trader who explains this on youtube is Mark douglas.
Is it worth putting your time in this to learn? Well, i'm trading now for 5 years and still learning but profitable.
The learning process will never end, just stay humble and on track.
For me it was worth putting my time and money in this, but it was never easy.
Look for a good mentor, and go for it. But give it some time.....:-)
gambling, the betting or staking of something of value, with consciousness of risk and hope of gain, on the outcome of a game, a contest, or an uncertain event whose result may be determined by chance or accident or have an unexpected result by reason of the bettor's miscalculation. slot machine.
Having said that, (or copy paste it :-). What if you are the casino and have the odds on your side, is it still gambling then?
What about the pro pokerplayers, they have loosing streaks as well, but in the long run they are profitable.
The best trader who explains this on youtube is Mark douglas.
Is it worth putting your time in this to learn? Well, i'm trading now for 5 years and still learning but profitable.
The learning process will never end, just stay humble and on track.
For me it was worth putting my time and money in this, but it was never easy.
Look for a good mentor, and go for it. But give it some time.....:-)
Oct 25, 2022 at 10:01
เป็นสมาชิกตั้งแต่ Jun 01, 2021
9 โพสต์
Oh. guys well-done!
This is really a matured reply.
Yeah! Foerex is one of the best business in the world. If not the best.
And is the most underrated business as well.
Yeah! I've been trading since 2020. I'm not profitable as expected. But i'm making some of my bucks through training people.
And people are really enjoying it and appreciate it.
But this argument of forex is a gamble or not, has been making people be so confused in the financial market.
Not only retail traders take trading as gamble. Even some big boys in the market.
The reason is... There are lot of fake traders out there keep faking people that they are making money in the financial market.
Dupe people and run away.
Another reason is... Most forex traders are sport bettors. SO they handle forex like the way they handle betting.
Forex is not a gamble. IS a business
This is really a matured reply.
Yeah! Foerex is one of the best business in the world. If not the best.
And is the most underrated business as well.
Yeah! I've been trading since 2020. I'm not profitable as expected. But i'm making some of my bucks through training people.
And people are really enjoying it and appreciate it.
But this argument of forex is a gamble or not, has been making people be so confused in the financial market.
Not only retail traders take trading as gamble. Even some big boys in the market.
The reason is... There are lot of fake traders out there keep faking people that they are making money in the financial market.
Dupe people and run away.
Another reason is... Most forex traders are sport bettors. SO they handle forex like the way they handle betting.
Forex is not a gamble. IS a business
Successalways
เป็นสมาชิกตั้งแต่ Aug 28, 2021
2 โพสต์
Oct 25, 2022 at 10:35
เป็นสมาชิกตั้งแต่ Aug 28, 2021
2 โพสต์
99% of traders lose money, you can't expect to win every time so yeah !
To be really ruthless is to not take any of these lies.
Trading is just a business, so treat it like one !
but it's hard anon, do you know why ?
Because it's MONEY and money is connected to emotions
the truth is over 80% of traders are emotional in the markets and that's why they lose everytime
In business you create product to make you money, in trading - you are the product !
To be really ruthless is to not take any of these lies.
Trading is just a business, so treat it like one !
but it's hard anon, do you know why ?
Because it's MONEY and money is connected to emotions
the truth is over 80% of traders are emotional in the markets and that's why they lose everytime
In business you create product to make you money, in trading - you are the product !
Forex Trader & Crypto Believer
เป็นสมาชิกตั้งแต่ Sep 13, 2022
6 โพสต์
เป็นสมาชิกตั้งแต่ Apr 09, 2019
538 โพสต์
Nov 01, 2022 at 11:24
เป็นสมาชิกตั้งแต่ Apr 09, 2019
538 โพสต์
Yes there are profitable retail traders but they generally keep themselves to themselves as let's be honest the space is full of toxicity towards anyone who claims to be successful due to the sheer number of scammers that aren't and claim to be.
If you can't spot the liquidity then you are the liquidity.
Nov 02, 2022 at 15:24
เป็นสมาชิกตั้งแต่ Jun 01, 2021
9 โพสต์
sebking1986 posted:
Yes there are profitable retail traders but they generally keep themselves to themselves as let's be honest the space is full of toxicity towards anyone who claims to be successful due to the sheer number of scammers that aren't and claim to be.
You are 100% correct.
There are lots of retail traders that make decent money in this business. But they don't just loud it.
Successalways
Nov 03, 2022 at 01:59
เป็นสมาชิกตั้งแต่ Nov 03, 2022
2 โพสต์
So I know 4 people that making money from forex, one got couple of millions and he don't want to say how much he earned, he load big amount in to account and waiting till it blow up or no he called it runs, one was starting from the bottom have zero on bank account now he has 364K I seen his bank account and some of the trades he made always saying that back testing, money management, process is important, they got few years experience the guy who haw millions on account he was saying that he remember like he was going instead to the school to the companies shops and ask people who work there how products going out he also lost millions, I believe that you can earn from forex but you can also lost everything, I watched one review that traders with vip account 1 milion on trading account have to have to get invitation and they all say that is gambling and most of them trading everything, sorry for my English. Good lock you all !!!
Nov 03, 2022 at 13:54
เป็นสมาชิกตั้งแต่ Sep 16, 2021
4 โพสต์
One laptop, or even a tablet, and a good internet connection is all that we need to trade on Forex. The minimum requirements for the MetaTrader 4 or 5 platform are what most average grade old computers can easily handle. It is all you need for starting trading on Forex.
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