Bell!!!

A question just popped into my head; if there was one thing you would have done differently in forex, what would it be?
Your answers might help!!1

 

If you don't like lack of transparency or fighting erratic trends, which more than you think prefer, then don't bother going below 240mn (unless your training then lower is better) otherwise you might as well go and bang your head against a brick wall, the results are better.

 

It would have been to never deal with FX in the first place.

 

Why would you say that wintergasp? Please I would want to get more insight on that?

 

Worst market in the world, nobody has ever made money on FX.

I used to be a market-maker on Spot FX and even on the institutional side, I haven't seen a single hedge fund that made money in FX.

Yet, plenty make money in Futures.

 

Wow, am really surprise at seeing your reply. Because we have so many success stories that abound in forums and on the net. Guys I need more replies on this, what do you guys make of what wintergasp has said?

 

Most "success stories" you will read are either complete bull shit or just the result of variance. You can make money for 18 months straight and still be the result of luck.

Same problem exists in the institutional world when hiring a trader. Let's say in 2000, Goldman Sachs has 2,000 traders. Each flip a coin and buy or sell the market for the year. At the end of the year, half the traders are fired because they lost money so there's 1,000 traders in 2001.

500 traders in 2002
250 in 2003
125 in 2004
62 in 2005
31 in 2006
15 in 2007
7 in 2008
3 in 2009

After only 9 years, you will have 3 guys who tell you that they've been a successful trader at Goldman Sachs yet all they had to do was flip a coin.

Trading is already hard enough, try to do it in a market where you can see real people succeed. I know plenty of futures traders that do well and do well for good reasons.

Also, most FX brokers don't book you by default, because 99% of the fx traders lose 99% of their assets in less than 99 days.

 

This is interesting and revealing and very intense too. Does anyone here object, any contradictions. I need answers, because all these replies are beginning to make sense!

 

I geuss i wold lessen the trades done back in 2013, i had some big loses that year lol, but its all in the past now.. i moved on i guess LOL

 

Trader_phil, how did you move on from that lose. Can you share with us what really helped you, what did you do differently from that moment?