Bad experience trading FOREX (STAY AWAY)

Discussion in 'Forex Trading' started by ozarka, Oct 28, 2009.

  1. ozarka

    ozarka

    Just throught I'd post a friendly warning to all the people considering trading forex.

    STAY AWAY. GRAB YOUR WALLET AND RUN. IGNORE ALL THESE HYPE ARTISTS/ FX SALESMAN ON HERE THAT WORK FOR FX BUCKETSHOPS AND LISTEN TO ME.


    After doing really well with the demo account I opened a live account and lost it all.

    I'd suggest anyone who is considering getting into forex and just can't wait to open a live account to start by opening a live account with the smallest amount possible...$25 and trade with very small sizes of 1 to 5 lots.

    You can be right on numerous trades and on numerous trends and it won't matter if you are stopped out with all the spikes against you because you are overmargined. Or if you overtrade with all the very wide spreads on entry and exit.


    If you don't believe me, open a live account and try to go long and see how far out your open position is placed. Then watch the opposite bar post to create the instant loss and gap to stop people out. If you have nerves of steal to sit through that completely random BS then you deserve the few cents of profit you'll get.

    If you look at the 1 minute charts you'll see that the large long bars actually end up statistically working against you. They create long wide ranges that will stop you out short or long from any logical entry point. If you try to get in on a breakout, it's almost guaranteed that there will be a counter bar to lockout people in a range who are either overmargined or that have stops. This doesn't mean you cannot make money, it simply means you have to leave lots of room for all the manipulation that you will face in jacked spreads and wide spiking bars.


    Be sure to research the process of getting your money out before putting money in. Fees are often involved in getting your money out. Yes they charge you to send you your money.

    You can read some reviews here:
    http://www.forexrealm.com/brokers-reviews
     
  2. moarla

    moarla

    i compared the forex data from Interactive brokers eon EURUSD with the EUR future.
    They move exactly in the same way, so i trade on a EUR future chart also the EURUSD forex and have no problem :)

    If you are right, also the future market on forex is manipulated against you...

    hmmmmmm i doooont belive that.



    BUT: If you are talking about scam-brokers, maby you are right.
     
  3. ozarka

    ozarka


    I think the problem is most look at the center of the candlesticks. You need to look at the FULL RANGE of the forex candlesticks. They post up huge 1 minute ranges that overlap in ways from minute to minute on upswings and downswings that will wipe out anyone who's on the right side of the trade. You must be very careful and should start with very small lots to get a good feel for this behavior. It's not a natural normal market that trades like stocks where you find a good entry on an upswing or downswing. Any confirmation is often followed by a long bar that will wipe out shorts and longs trying to play any move with what they think is enough room to not be stopped/margin called out.

    BE CAREFUL AND WATCH THE FULL LENGTH OF THE CANDLESTICKS. NOT JUST THE MIDDLE.
     
  4. Awww c'mon man, we need get-rich-quick suckers like YOU! Come on in, make your fortune, 100:1 leverage!!!

    Work it out....$100 account, 100:1, 100 pip move.....shit you've just DOUBLED your money!! Do that 10 times in a row and you've got yerself over A HUNDRED GRAND!!!!!


    You dumb shit, learn to trade instead of blaming the market or the broker! :p
     
  5. ozarka

    ozarka

    1. Which forex broker do you use?
    2. How profitable were you your first month trading forex live?
    3. How many years have you been trading forex?
    4. Have you made a lot of money trading forex with your broker?
     
  6. the broker doesn't force you to over leverage yourself...learn how to trade
     
  7. ozarka

    ozarka

    Since you are such a great forex trader, why not answer the questions...

    1. Which forex broker do you use?
    2. How profitable were you your first month trading forex live?
    3. How many years have you been trading forex?
    4. Have you made a lot of money trading forex with your broker?
     
  8. ozarka

    ozarka

    Stay away from FOREX folks, as you can see, all these pumpers don't want to answer any of the questions...


    1. Which forex broker do you use?
    2. How profitable were you your first month trading forex live?
    3. How many years have you been trading forex?
    4. Have you made a lot of money trading forex with your broker?



    Instead they'd like to cast insults that "it must be the trader", "it must be because he's not trading real forex on the futures". None of these FX pumpers want to back anything they say up or be held accountable to their word.
     
  9. Exactly!

    It's a shame really, I thought we had some real entertainment going there for a minute.....turns out the guy's just another moron. :mad:
     
  10. First learn about risk management then learn to trade.... you clearly know neither.

    Let's see you wanted to turn $100 ino $250,000 by xmas.....LOL
     
    #10     Nov 3, 2009