LMFAO! great story, thanks for sharing. there are some real BSD's out there for sure.
surf
Do full-time forex traders exist or is it just make believe?
- Thread starter zbojnik
- Start date
LMFAO! great story, thanks for sharing. there are some real BSD's out there for sure.
surf
My primary motivation is to create conversation so that I can learn and obtain fodder for my writing. Sometimes you have to poke to get to the truth.
My point is retail dealer based FX is a rigged market, rigged against the small trader. all you need to do is read the literature of the company's that help set up the dealers to know this--- its not a secret---- Not to mention that 99% of chart based TA doesn't even make sense, let alone make profits. I am trying to discourage folks from going down the FX and TA road when there are regulated marketplaces and exchanges plus methods that can work trading other than the same old chart based TA. I am far from negative about trading---- just telling the truth I have found over the last 20 years actively involved. Peace-- surf
PS-- i must have missed your earlier post-- feel free to repost it or link me up.
Marketsurfer there is absolutely no reason why a person can't start an Oanda account at $10 and grow it to $1 billion in four years.
Let's see:
Year 1: $10 to $1,000
Year 2: $1,000 to $100,000
Year 3: $100,000 to $10,000,000
Year 4: $10,000,000 to $1,000,000,000
40 pips per day. Right Xpurt?
".... and that's conservative!"
Marketsurfer,
I appreciate you finally acknowledging my post
I believe there are many different ways to skin the cat in this game. It all comes down to whatever works for the individual, and what they are determined to make work. and all in all, its just a game of probabilities.
Technical patterns do appear, breakouts happen, consolidation, trends. some People CAN read charts, and base trades off them. I truly believe that. But then again, its up the the individual to determine which side of the bet to take.. and to define an edge, with a probability with money management, and all that kazaam...
Could you please explain to me why traders such as MARTY SCHWARTZ, DAN ZANGER, MARK. D COOK, ED SEKOYTA? (spelling) have done it successfully?
Here are a few members from FF that I know of, i don't frequent the forum much.. I also know there are many members from the james16 group that make a good living.
http://www.forexfactory.com/anup <- only uses TA, price action.
Another member I noticed awhile ago;
www.forexfactory.com/gregwilson
FX brokers, especially those regulated are pretty fair and stable. Regardless of being centralized, if you are are winner, its plain and simple.. you will make money. If you take loosing bets, its not the dealers fault..
And of course, I'm not talking about spread manipulation, stop hunting.. those types of brokers should be avoided from the start..
Cheers
Quote from SimpleTrades:
Marketsurfer there is absolutely no reason why a person can't start an Oanda account at $10 and grow it to $1 billion in four years.
Let's see:
Year 1: $10 to $1,000
Year 2: $1,000 to $100,000
Year 3: $100,000 to $10,000,000
Year 4: $10,000,000 to $1,000,000,000
40 pips per day. Right Xpurt?
".... and that's conservative!"
Liquidity was mentioned more than once was it not? By year four trading 10,000 lots a trade? WHAT! Why do you insist on being an idiot to prove a point that was not even made, there was no mention of 10-100 million. 11 contracts at 40 pips a day for one year = $1056000. Considering the opportunities that past you by as you sat in the red yesterday why are you mocking anyone, especaily about things that were not said.
Cool. Thanks for answering my questions.
How about take profit? What's the average profit size?
Sheda, its you whose being an idiot. I am intentionally expressing the absurd to show how outrageous it is that the turkey is trying to teach a novice how to turn $10,000 into $1 million. This would only make sense if he has achieve the million dollar goal many times and could prove a system.
In any event, there is no reason why his approach couldn't be used with micro lots in a micro account if its a viable system. Therefore, starting at $10 shouldn't be anymore difficult than starting at $10,000.
So, why can't a person get rich starting with $10 in a micro account at Oanda?????
I bail when it looks to be losing its momentum and/or goes into consolidation. I used to have profit targets of 100 pips per day however these days I just take what comes, average take per trade 20 to 60 pips.
No, you are being an idiot, the issue you have with him is about the consistency of a new trader, nothing, zero, zilch to do with liquidity and 10 mil + returns. If a new trader an old trader or a banana for all the difference it makes can bag 40 pips a day, within a year they can make a million, you can not disprove this by quoting absurd 10,000 lots a day trading outlines.