If you look closer at metrics, few of those accounts trade only FX. If I remember right, most traders that fit the criteria to be listed under FX barely traded it and most profits were made in other products. I remember only one trader actually trading only fx and their returns were poor.
Are you making a living trading FOREX?
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I do not quite understand all the prejudices towards certain fin. instruments ... from a discretionary traders point of view it does not really matter whether it is crude, FCOJ, Euro FX (futures) or rough rice ... all the same to me. If I show you 4 charts without price axis I bet one grand that you won't be able to say which is which. Law off the charts, supply&demand, stop hunting, taking swing highs/lows out it works the same way everywhere
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Knowing we do not understand something is often a good start toward possible understanding.
As for the rest of it, you are off base and things are not the same everywhere (markets and their rules), if being a longterm winner is the goal.
Heck, things that worked 10 years ago may not even work now, in trading... regardless of what some gurus-for-hire say.
Not all playing fields or trading fields are the same, even if you look at all of what you mentioned, especially for retail traders or even prop traders.
* suggest you research your thesis more and try to chat about your ideas with believable people.
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Based on your posts, I doubt this. But good luck.
FX doesn’t trend well and it’s trading at a 5-6% annualized vol. You ppl trade it because the barrier to entry is zero. There is no “color” in FX and please don’t tell me that you’re trading on news. There are zero successful FX funds on the buy-side. Caxton did well in FX but that’s a one-off.
Equities and FI are infinitely better trading vehicles.
Equities and FI are infinitely better trading vehicles.
Yes it will be a low number and there are not many forex traders here so you will not get many responses.
Trading forex is very tricky, you need to know the instruments you trade like you know yourself or even better.
I trade forex daily using 2 strategies and it is profitable (has been for a number of years now) but back in April (when the market crashed), I had to add more funds to the accounts and I also scaled down my trade size due to the market uncertainty so my gains in the past 3 months were reduced down to 1-3% per month.
Being over capitalized is very annoying but account protection is my 1st priority.
I studied fx for a while as someone close to me attempted to convince me it was tradeable.
After a year of just looking at it (not everyday) I came to the conclusion there was no way I could get it to work. I had subscribed to Norgate fx EOD data.
I imagine for profitable traders it would need to be very short term holds, like intraday stuff.
Would that be correct?