90% loosers in FX

[dracula's son]

in my opnion :

During the first year of trading 98% of the traders might be losersthen the percentage improves with the experience

[Cutten13]

Originally Posted by dracula's son

in my opnion :

During the first year of trading 98% of the traders might be losersthen the percentage improves with the experience

Some good advice a veteran trader:


http://www.fxstreet.com/nou/content/...asp?dia=242004

[rockinride]

Originally Posted by lamode

I dont think so. we are talking about 10% traders that make profit not 10% winner trades.

I found out that the odd is 50% in forex if you dont do any analysis its either up or down. The fact that most people loss in forex is that they do not use SL or double up their position size when they winning or losing basically lack of MM.


Forex is not same as casino lets say you have $100 your pocket you go to casino you put $50 to the black red table then you play the game in the end of the game you either win $50 or lose $50.

In forex if you dont have proper MM a trade with a pip value of $1 could take out the whole of your account because there is no ending in this game thrus we need to have a proper business plan.

I always get a chuckle out of comparisons to forex the casino. There are table limits in a casino that stop you making any real money off of a roulette wheel for example. In forex the game is the same not "never ending" at all. It's based upon your finite bakroll. We would all be rich if we could make a single successful trade for 10 pips profit at 100K a pip with a 100 pip stop but our bakroll limits us this highly probable scenario.

The other thing to consider is that it is not quite as simple as picking a color between two options of Red Black in forex you can pick the right direction ( I think most of generally do most of the time) still lose your ass due to the lack of stop loss distance. This again is the same issue the funds in your account prevent you risking the appropriate amount of funds to stay in the trade against the natural market volatility. Most trades are lost to Stop loss not choice of market direction.

[initialsBB]

There is truth in what rockinride wrote. Few days ago i was doing computerized tests of some really nonsensical rules in an attempt to create some trading system that would really suck (since designing good system is always so difficult why not try the opposite). So i put my stop loss at -200 profit to +30 (beyond any "reasonable" rule of probability game) guess what? The system returned 95% success good profit

[Cutten13]

Originally Posted by initialsBB

There is truth in what rockinride wrote. Few days ago i was doing computerized tests of some really nonsensical rules in an attempt to create some trading system that would really suck (since designing good system is always so difficult why not try the opposite). So i put my stop loss at -200 profit to +30 (beyond any "reasonable" rule of probability game) guess what? The system returned 95% success good profit

Maybe you should sell your system?

[initialsBB]

I don't think anyone would buy it. I am also not brave enough to trade it myself with such risk/reward ratio.
The point that i'd like to make a propos this subject is that profitable trading is not difficult at all: just by doing moving averages crossovers with proper money management you will make money in the long run. What is difficult though is to make good profit with low DD on month by month basis

[ampris2000]

i think a person can be profitable all the time.
it comes down to knowing what you're doing.

many people it seems to me want to daytrade forex.

a beginner can use a EMA moving average crossover on say the 30 minute chart trade just that make a decent amount of pips.

what needs to be learned (i had to learn it too) is when you're trading the 30 minute plus time frames you need to ignore the price movements your positive or negative pips the money you're gaining or losing

look only at the trading data to see if the trend is over or continuing. by doing this it has kept me in trades when it seems like the prices are going the other way where eventually they do turn into a profit.

plus it's gotten me out of trades that look like the trend is over. it took some time to say to myself "You can always re-enter the trade if it continues". I'm glad there is no commission in forex to pay.

[TRADE]

at some point you will realise that you are not trading against anyone but yourself. - 90% losers in FX just mirrors smoke screens

you have freedom of choice to buy sell or st aside. it is the quality of your decision making which ultimately determines whether you succeed or fail.

nothing more nothing less.

if you are failing at retail level i doubt you will succeed in another market Fx or not.

if you are looking to blame something other than yourself for failures let that be spread regulations tools statistics etc then your quality of thinking decision making process just doesnt cut the mustard my friends this business just might not be for you (nothing wrong with that) just move on do something else.

a true entreprenuer will always find a way to succeed in whatever he chooses is determined to do.

regards to all