Forex day trading
- Thread starter ngn
- Start date
QUESTION: What "ideas" has MountainTrader come up with? You seem to like his "ideas" in one of your posts. Is that too hard of a question or are you just a hack?
FYI......its RefcoFX not Refco.
The leverage works in both ways. Donât talk only about the 400% return on your deposit (which will only happen occasionally, and probably on a deposit of a few dollars). If youâre wrong your losses will be huge also, especially because of the high leverage.
Someone who trades with such leverage is surely not a professional. No professional makes 400% a day on his deposit.
Forex is promoted because it is very profitable for the counter parties of the traders, because they match longs and shorts and take the spreads on both sides. In the long run most people lose money. This money ends up in their pockets.
If you want correct prices trade futures instead of going in an unregulated market.
Forex trading is a new hype that attracts mostly newbies and inexperienced traders. People think that being a Forex trader impresses other people. I compare it to someone who rides a bicycle in the weekend in an outfit like Lance Armstrong, thinking that people passing by will be admiring him, thinking heâs like Lance.
I have been day trading Forex between 1990 and 1995; so long before this hype started. I traded million dollar positions thru my own offshore company as a registered CTA, for clients that were introduced to me by Prudential Bache (that was their name at that time). I have met many day traders and position traders in Forex in this 5-year period. NONE OF THEM managed to survive these 5 years. I stopped in 1995 and started trading futures.
Perhaps a good idea is to run thru the registered CTAâs and check their Forex performance. It should give you a good idea about the possibilities. One can make better returns than these CTAâs but making consistently good returns is difficult in Forex.
If you see the amount of publicity around Forex, itâs clear that Forex is hot. But you can burn yourselves severely if you donât know how to handle âhot stuffâ.
Someone who trades with such leverage is surely not a professional. No professional makes 400% a day on his deposit.
Forex is promoted because it is very profitable for the counter parties of the traders, because they match longs and shorts and take the spreads on both sides. In the long run most people lose money. This money ends up in their pockets.
If you want correct prices trade futures instead of going in an unregulated market.
Forex trading is a new hype that attracts mostly newbies and inexperienced traders. People think that being a Forex trader impresses other people. I compare it to someone who rides a bicycle in the weekend in an outfit like Lance Armstrong, thinking that people passing by will be admiring him, thinking heâs like Lance.
I have been day trading Forex between 1990 and 1995; so long before this hype started. I traded million dollar positions thru my own offshore company as a registered CTA, for clients that were introduced to me by Prudential Bache (that was their name at that time). I have met many day traders and position traders in Forex in this 5-year period. NONE OF THEM managed to survive these 5 years. I stopped in 1995 and started trading futures.
Perhaps a good idea is to run thru the registered CTAâs and check their Forex performance. It should give you a good idea about the possibilities. One can make better returns than these CTAâs but making consistently good returns is difficult in Forex.
If you see the amount of publicity around Forex, itâs clear that Forex is hot. But you can burn yourselves severely if you donât know how to handle âhot stuffâ.
Spike500,
How much % did you make in that 5 -year period in forex ?
By the way, most traders lose in ALL markets, forex , futures
or stocks.
How much % did you make in that 5 -year period in forex ?
By the way, most traders lose in ALL markets, forex , futures
or stocks.
Blah Blah Blah, Yada Yada Yada, trading is trading.
It says FX Game on the application in that attachment. Is that some kind of demo/paper trading thing. Are you trying to show you can make money in fx?
Oanda FXGAME?
LOL
GAME? First try it out in real live.
That's what i meant with a guy riding a bicycle in an Lance Armstrong outfit. You are one of them, and you don't even realize how ridiculuous you make yourself by showing a demo account.
I have already seen demo accounts with millions of dollars of profit. But in real trading things went completely different.
Once you have traded a few years in real time you will understand what i meant. Don't try to understand it now because you don't have any idea what trading is.
The "experts" are rather Playstation or Xbox experts.
I added my Oanda account.
LOL
but you *only* need 10 pips per day to become a millionaire!! how hard is it to get 10 pips per day when the market moves at least 150 pips in a day!!!
if you don't believe how easy it is to get at LEAST 10 pips per day, just go over to m o n e y t e c where there is nothing but in- depth discussion of how many systems give you at least 10 pips, fully automated!!
if you don't believe how easy it is to get at LEAST 10 pips per day, just go over to m o n e y t e c where there is nothing but in- depth discussion of how many systems give you at least 10 pips, fully automated!!