Mentor wanted

[forex777]

Okay gentlemen,

I don't understand????

So you can't make money at this????

So you mean NO individual can sit at his/her computer and make money trading FOREX???

So should I just foget about this and just never stop selling cars for a living?

Your posts are scaring the hell out of me. I just found out about the FOREX market, and what it is. I bought a book by James Dicks and he says you can make money. Damn good money. He says you only have to be right 50% of the time and good money management will do the rest.

Is he wrong? And what do you mean most trades never leave the borker house?

What the hell are you talking about? Please explain yourselves will you. I read your posts, and considering you are experienced traders, I am very sad about what I have read. I thought that if I worked hard, studied, stayed disciplined, that I could support myself with my notebook computer.

PLEASE RESPOND

[sasfx]

Its not that bad!! true there are a lot of people out there who inspite of the books and trading manuals and so on and so forth and then still end up losing their money but there are also a lot of people out there who are making good money and good trades on a regular basis, I work in forex and can attest to this. What I have to say to you is it is a very speculative market and as a beginner you really need to study forex on the whole and watch how markets move on a daily basis. Mu suggestion to you would be to actually open demo's with some brokers/banks and get a feel for the industry.

It is a little annoying that traders always assume that they HAVE to be on the winning side of the market it is not alsways the case. Whilst people are placing good trades and making money things are great but the minute they lose money it 'HAS' to be the brokers fault, a great deal of the time it is just the way the market moves!

If you need more advise on forex and trading and who to trade with feel free to email me on ssquillacioti@cbfx.com

HTH

[jsoft]

forex777: please read my message again, you must you've missed something

sasfx:

1) no offense, but one is not in position to be a trading mentor, unless they make living of it. At least for several years.

2) even if I tend to agree with your recommendation regarding who to trade with, please keep in mind the following: a) you work with CBFX, so who else could/would you recommend? b) this thread was about forex mentor, not forex broker, remember?

Of course, one can make money in Forex. Some traders loose, some others are close to break even. If somebody can live out of Forex trading, to me that's a criteria.

Forex is not any different from heart surgery or flying the plain. Most people would kill the patient (or crash the plain), while there are experts doing it. If one is serious, they have to find such professional and seek his/her guidance. Now, somebody may need to try to do it on their own (couple years or so), before accepting it. And yet very few blessed ones may even do it on their own...

[forex777]

sasfx: thank you for your reply and thank you for your invitation to contact you on your private email. I will.

Jsoft: I was replying to this: (within the lines)

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Mick

I am slowly discovering that your last point "there's no money to be made in forex" is the key reason why many traders give up. I have yet to meet a profitable forex trader (per definition a single trader who only trade for his/her own account making use of a retail platform) .... - one that is able to live off his/her account and at the same time grow his/her capital. When you find such a trader, please introduce him/her to me! They say only 5% make it - in forex, I think that figure is closer to 1%. Until you find this person (or could it be a computer sitting somewhere in a corner) ...... happy trading!
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with all due respect, this makes me very upset! Can this be right? No, how can it be? So, why would any experienced trader say this? I did read the replies and it settled me a bit. Especially yours, jsoft. I just don't get why this person could say that there is nobody out there making money sitting at home with their computers. I know there is. Unless they are completely lying. There are many people living off their personal accounts. Aren't there? There are many people who are growing their capital AND living off their accounts, sitting at home. There have to be. Unless it is all BS out there. I mean, all BS. Are the thousands of testimonials BS?

If you are a dedicated day trader, how can you not make money. A good disciplined day trader (in the regular old stock market) makes great money sitting at home in their underoos. And there are tens of thousands, so then, according to this email quote that exists between the lines above, NO ONE is doing it in FOREX. Impossible. It's virtually the same movie with a different plot line.

I just don't understand how a post like this can exist. It is giving me a complex that I even came accross a post like this.

Okay, I'm done. I feel like I am in session with a shrink and just venting. It's just that when I read this quote, it shattered the high that I've been riding for the past two weeks that I have been investigating and reading and buying books, etc...

I thought that I had found "IT" for me. I thought that I read, studied, listened, developed disciplined, expanded my knowledge, chanted, prayed, etc... that I sit at STARBUCK's with a wireless connection and "make it happen"

Okay, see you all later......

[mindgame]

Can the average punter make money in forex probably should be the question. The odds are most certainly stacked against you because you are trying to teach yourself something you know nothing about. If you think about it in that way you might begin to understand the problem you face - you don't know what you need to be learning about, what is relevant, what is rubbish, because you have no professional guidance.

[united46]

Hi Forex 777

I would say that the vast majority of "stuff" out there is BS. For sure, there are some people making a good living at this but % wise it is small.

Consider this little trading query which made me laugh and think when I first read it:

On a trade, which would you prefer: a. A sure loss of $900 or b. a 95% chance of a $1000 loss plus 5% chance of no loss at all?

On a second trade, which would you prefer: a. a sure gain of $900 or b. a chance of a $1000 gain plus a chance of no gain at all?

Let me know what you would do.

Cheers

DUFC

[united46]

On the second trade it should read .... plus a 5% chance of no gain at all.

Ta

Dufc

[GabeMT]

I think it shoud read:

On a second trade, which would you prefer: a. a sure gain of $900 or b. a 95% chance of a $1000 gain plus a 5% chance of no gain at all?

Am I right?