Much like 1 in every 10000 or 1 at 100000 make constant cashOriginally Posted by ;
Much like 1 in every 10000 or 1 at 100000 make constant cashOriginally Posted by ;
Hi PaulDaemon! You're such a great head and one of the Fx Traders I've come across on FF. I've literally read through all your posts on this thread. You have stroked the actual reason so many fail and will fail within the discipline of Forex Trading - which is lack of requisite commnt of funds (plogical and financial). Indisputably, attaining success in any area, on the planet, needs eduion and experience, then comes the surplus cash! But regrettably, many would not wish to go for the first two (eduion and experience), when it comes to FX Trading, but would desire to achieve the third (surplus cash) - exactly what a mirage!Originally Posted by ;
Please, make no mistake about this truth - there is no substitute for hard labour neither is there opinion in reality! You can't trade Forex on a part time basis and eventually become a George Soros or Stanley Druckenmiller! You must be kidding! Forex has to be treated as a company the way you treat your job. If you wouldn't, then stop anticipating more from Forex Trading than you want from fulltime job. You need to rob Peter to pay Paul? Absolutely, you'll get away with that as it pertains to Forex Trading. Until this insanity is dealt with, chances are the statistics of unsuccessful Fx Traders would reach 99.99%.
I throw a challenge to all people on this thread, show me some account history you've ever handled consistently for a period of at least three consecutive months, whether live or demo, then I will show you to what extent you can go when it comes to Fx Trading and some other Financial Market area generally.
Attached herewith is an account that I managed from from April 2016 to June 2016 simply to confirm my challenge...
https://www.nigeriaforextrading.com/...9657500364.pdf
Originally Posted by ;
What the problem is 99 percent of folks who find forex trading are searching for a get rich quick scheme and use high risk egies to try and make a million from 100 dollars and because of this they constantly loose then call it a scam, blame it on the brokers market makers the big boys etc.. . Lets face it we all looked at it in this way at the beginning.
Forex has to be treated as a company and with the ideal mind set
I used to exchange using demos and doubled my account month after month with occasionally loosing one. I put the demos up with 10k equilibrium. Then would open a live account with 1k and loose it a week after.
Why?
Because I wanted not just to double my account in a month but I wanted to times it by 10. When I would sit at my computer all day and also make 50 $ it dont seem worth it. This is plogical and it really messes with you.
What changed it for me and to please my ego was supposed to exchange a 100k demo along side my 1K live account, and it worked. What I found is that it dont matter in what manner you trade or your own egy the main thing is money management. The one thing that has functioned me was to get rid of the leverage.
Back in jan this year I asked my broker to establish a demo so that it never expires and I suggest everyone to do this. Each of the data from my demo accounts in the preceding years are all gone but this way should you keep a presentation going you can track your progress better. You demo you can re-fund more virtual money should you loose.
Nowadays I dont have enough time to exchange the demo as frequently because I have 2 live accounts that I concentrate on. But you can declare my presentation and live accounts reflect each other, but I am more careful with my live accounts.
Just something to say in reality when you're placing on $100 million dollar trades there will be alot of slippage to manage and you'll discover your orders may not even be filled. Its easy done using a demo because there's noone on the other side to take your trade.
On one hand more often than not people do lose money because they lack knowledge, experience and/or they have difficulty coping with their anxiety. On the other hand sc do exist and a number of them are fairly egregious also. Take the HSBC chiefs, https://smnweekly.com/2016/07/21/hsb...eady-arrested/ the forex market back in 2011 since they had insider knowledge, lied to their clients, overbilled them and walked away with millions from their scam. Scammers do exist, unfortunately, and a lot of them make lot of money.
Cash is definitely made by individuals. You can too, if others can. You might just have to work harder than them.
The simple fact of the matter is it's a zero sum game. So someone is coming out with profit
possibly, In any situation, I don't need to grow into one of those loosers. .)Originally Posted by ;
Absolutely... your job as a trader is to conquer any difficulty to make money not from scamming but from trading.Originally Posted by ;