Forex is a scam

Quote from asiaprop:

thats the biggest crap I ever heard, you shill!!!

Why should I trust some trolls who build paper trading results on websites rather than asking someone to show me an AUDITED REAL TRADING RECORD over the past 1-3 years?

Thats exactly how I got started. I had my broker's statements audited by an independent auditing and accounting firm, something that bestows 1 million times more confidence than some web charlatan such as C2.
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Ignore boo-boo. He just pretends to be someone he is not. And that is of a trader. He's a friggin' C2 loser. Like Timmay!
 
Quote from sakhter:

5%-10% sounds just about right with natural stops, is extremely conservative especially in forex. But what you really need to focus on is not the risk % but the lot size, you can loose 5% in <1 tick, <10 ticks, or <100 ticks.
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A little knowledge is a dangerous thing.
 
Quote from Milton:


You guys need to get out and meet some real traders not just look on tv/youtube and see traders/brokers from City when they are showing how idiots thery are.
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Milton, what on earth are you talking about?? Sounds like you chatted to someone on some forum somewhere, or perhaps someone had a laugh on you in a bar.

Some of us work or worked in the city and are talking about first hand experience and not Internet or bar chat. If you meet a city trader in a bar, be prepared to be the victim of a prank as much as get any worthwhile information.

Because of 2 weeks differential summer time hours between the UK and the USA I had to leave a client lunch meeting to go to my desk and missed my vintage port. An hour later my colleague Charles arrived back at the office with the cut glass decanter and a pocket full of Cohiba cigars.

Charles didn't ask for the port or the decanter. He just lifted it off the trolley and it was added to the bill without anyone on either side making a comment. Humility is uncommon in a loud cut throat environment where huge sums are traded. Try applying for this type of job and say you are humble and quiet and see how many interviews you get.
 
Quote from Xspurt:

Milton, what on earth are you talking about?? Sounds like you chatted to someone on some forum somewhere, or perhaps someone had a laugh on you in a bar.

Some of us work or worked in the city and are talking about first hand experience and not Internet or bar chat. If you meet a city trader in a bar, be prepared to be the victim of a prank as much as get any worthwhile information.

Because of 2 weeks differential summer time hours between the UK and the USA I had to leave a client lunch meeting to go to my desk and missed my vintage port. An hour later my colleague Charles arrived back at the office with the cut glass decanter and a pocket full of Cohiba cigars.

Charles didn't ask for the port or the decanter. He just lifted it off the trolley and it was added to the bill without anyone on either side making a comment. Humility is uncommon in a loud cut throat environment where huge sums are traded. Try applying for this type of job and say you are humble and quiet and see how many interviews you get.
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And how many of those Ballers do 30%+ net, a year?

Not many, I imagine.
 
Quote from achilles28:

And how many of those Ballers do 30%+ net, a year?

Not many, I imagine.
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Consistently? Not many... but it's algos now so don't blame the traders - blame the machines :)
 
Quote from bugscoe:

Trading forex (or all markets) is just like getting to know a woman. It's volitile as hell at first but as time goes on you learn how to read and anticipate her moods.

You learn what time of day is the right time to ask for a hug and the right time to ask for sex.

Once you know her and are married to her, she'll still hit you with some unexpected drama. But at this point you are equiped to deal with everything, as long as you remember when to ask for a hug vs sex.
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hmmm I wanted to do a funny comment about your writing and then I realized that you were maybe saying something very important. How to time woman... I never had think about it. Maybe you could say me what book did you read ? Do you have a excel sheet to put information and derive value ? Do the moon play an important role ? Weather, Season, light intensity ?
One thing I am sure is that truely understanding a woman is harder than to master the market !
 
Quote from Xspurt:

Consistently? Not many... but it's algos now so don't blame the traders - blame the machines :)
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I don't make excuses, brother.

The thing about those uber-cocky wanna-be Streeters - if they actually knew how to trade, they wouldn't be cocky.

Profitable trading is simple (and easy).

These guys just attempt to fit a mold haphazardly gelled together after decades of cliched stereotypes. Its really blind leading the blind, unless we compare audited returns. But what guy churning 1000% a year, will do that?

Still, it'd be great to work at a major IB, and see how it all plays out.
 
Quote from Xspurt:

Try applying for this type of job and say you are humble and quiet and see how many interviews you get.
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I don't need to apply for a job because I'm a full time trader and I also manage OPM.
Quote from Xspurt:

Consistently? Not many... but it's algos now so don't blame the traders - blame the machines :)
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ohhhhhhhhhh, you are talking about this quant traders? Do you know how much their algo is worth for me? 2 penny. And thery are probably the most arrogants!

Ok, it's enough, it's seem that almost everyone is against my "philosophy" and I'm very glad about this, because this show me that I'm not in the Majority! And I hope that you know what majority of people do in trading. :) Here is a nice quote... "Sometimes a majority simply means that most of the fools are on the same side..."
P.S. If I offended anyone I am sorry.
 
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