Do full-time forex traders exist or is it just make believe?
- Thread starter zbojnik
- Start date
The basis of prediction markets. But making a single prediction is different than a series of same. surf
That was not the thread starter's original question...it did not specify professional firm FX trader or retail (at home) trader. Actually, you'll be surprise how many newbie traders do not know that banks are the biggest FX traders in the business with trading rooms containing +50 traders for each bank in reference to the well known institutional firms (e.g. UBS, Barclays, Knight and many more).
Also, why does it matter if a retail trader had rich parents, worked odd jobs to save up money, took out a bank loan, max out credit cards or robbed a bank to get their starter account as a full-time trader.
It still doesn't change the fact he/she is still a retail trader.
If I won a 50 million dollar powerball lottery...became a trader and open an account with 100k and then consistently made 40k per year the past 5 years...I'm still a retail trader that turned 100k into an additional 200k profit. Now go ask someone that's losing or unemployed if they would like to make 50k per year or tell me I have some sort'uv "trading advantage" over other retail FX trader.
Anyways, as usual, you're slapping on additional requirements that's impossible for someone willing to verify to anonymous forum users. Thus, to verify someone has "no other source of income" would require access to IRS statements, bank account statements, notarized statements from family members stating they aren't funding the trader let alone just a broker statement.
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We both know that's not what the thread starter was asking about.
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Surely, there's at least one full-time FX trader over at ForexFactory.com or one of those lay-off (e.g. UBS let go like 50,000 traders, strategist and execs) former firm trader that decided to go retail. I'm willing to bet there are full-time FX retail traders out there that had at one time or another worked as an institutional FX trader since 2008 financial crisis.
It only makes since that while looking for another job, start trading as a retail trader with that severance package they gave you.
That makes sense and would imply the only way you'll see North Americans entering Dukascopy would be it they also had dual citizenship in another country that Dukascopy accepts.
I completely disagree with WRB regarding many of his statements. It doesn't take statements or audits, it just takes someone to tell the truth which is a sorely lacking virtue in the FX world.
It makes a huge difference if one starts out in the market from a position of strength-- ie wealthy family, lottery, business sale or whatever than if you start with a micro account as thats all the capital you have. Folks that are already wealthy then turn to the market for a hobby is not a real full time professional trader who MAKES THEIR LIVING trading--- surf
It makes a huge difference if one starts out in the market from a position of strength-- ie wealthy family, lottery, business sale or whatever than if you start with a micro account as thats all the capital you have. Folks that are already wealthy then turn to the market for a hobby is not a real full time professional trader who MAKES THEIR LIVING trading--- surf
Unfortunately, for this claim, Dukascopy is not the only FX dealer that has contests. I have seen dozens upon dozens of FX contests and 98% are won by some third world trader in the Willy Wonka candy bar golden ticket operning contest. surf
Quote from cornix:
In my case posted TA showed short BEFORE the actual drop and thus no slippage would occur as well as price never ticked any much above the hypothetical entry.
All a matter of timing.
Can you link to the posted TA that indicated short prior to the twitter crash-- thanks! surf
it's getting kind of old marketsurfer
your job is to prove everybody is a failure, a liar, or a charlatan
do you subscribe to The Skeptic Magazine?
take out all the bullshit, and there will be nothing more to talk about
you're supposed to already know that going in
it's starting to look pathetic when you demand proof somebody is not bull shitting you
like, you need proof?
it's like you have become the gullible one
somebody bullshits you, and your first reaction is "Prove It!"
like the man said, "Just assume everybody you are talking to on ET is a loser." If you start asking for proof, you are just asking for more lies.
Some people are just so gullible, they can't be convinced unless thay have absolute proof. And that is what I call a "Skeptic."
your job is to prove everybody is a failure, a liar, or a charlatan
do you subscribe to The Skeptic Magazine?
take out all the bullshit, and there will be nothing more to talk about
you're supposed to already know that going in
it's starting to look pathetic when you demand proof somebody is not bull shitting you
like, you need proof?
it's like you have become the gullible one
somebody bullshits you, and your first reaction is "Prove It!"
like the man said, "Just assume everybody you are talking to on ET is a loser." If you start asking for proof, you are just asking for more lies.
Some people are just so gullible, they can't be convinced unless thay have absolute proof. And that is what I call a "Skeptic."