You´re on the way of the 5%. I don´t use FXCM charts I use Oanda´s

Did you notice yesterday in eur and cable and correlated currencies everybody and their mamas were long......?

Trade against the crowd and you´ll be happy man. Notice I didn´t say trade against the price. You have to trade against the sentiment and then you´ll see you´ll be always with the trend....

Shhhh..!! That is suppose to be a secret..!! lol...

The sad part is, if brokers "really" off-set positions the way that they are suppose to, then only part of "the crowd" could get filled and lower the 95% losing average... Could you imagine if bucket shops could do the same thing with equites..!? haha.... Gotta love forex...

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Why 95% of traders fail..
because 95% of traders are greed and forget to manage their risk

Pj

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Be a 5% is not easy and mostly MM under control is the problem.. Greedy..wanna be rich quickly..over trade..over leverage..LOL

There are actually many factors that should've been taken into account.

Can you call someone a "trader" with a 200$ account balance? Think about it, only a couple of stop-losses would devastate that account. Even a great MM model won't help it that much, esp. if that trader's s trying to hold not too short, maybe overnight positions. The small balance can actually be a problem for such traders, because it's too hard to survive the drawdown if you're unlucky.

Also, a small sum encourages people to risk. I recently reactivated my FxPro Real account (I'm trading on demo now, just reactivated it to be sure) and took a look at my old statement. It was actually pretty obvious that it was too early for me to open up a Real account back then - no S/L on any of the trades and after 2-3 deals I increased my lot size. 0.1, 0.2, 0.3... I started to think, "hey, I'll make another 300$ outta those 200$ and I'll lower my risks!", and as a result, there was a whopping loss from 355$ (yeah, 75% in one day) to 120$, using a 0.5 lot. After that, I just kinda gave up and lost the other 120$ pretty quick.

Most of the people, after losing their 200-400$ balance, stop being interested in Forex at all, thinking about it as a scam (not too sure about that), a risky business (true), or just something that needs EXPERIENCE to actually get profitable as a task.

But how much people will think about the latter after losing their 200-400 bucks, right after thinking that "hey, it was SO easy on that demo!"? I'm sure a lot of people start learning more to try another time, but mostly, it's just like a crashing dream, a visit to a casino, ot something like that.

If we call those small-balances trader "casual traders", then I believe that this 95% number has a very large sum of those casual guys.

Forex is just about knowledge and experience. People learn hard to become pilots, doctors, lawyers, and they don't try to pilot a plane, cure a person or go to the court after a couple of weeks of some "demo-simulator". Same with Forex.

(sorry for the long entry, and with this entry being the first post on forex-tsd, I'd like to say "hello" to anyone!)

Hi Traderspoon,

There are not many factors to be taken in acount.

I am a member here on this forum now for nearly 4 years.
A member on oanda for even longer.

I've seen many thousands of people become a member on these forums in between I became a member till today and they all disapeared, vanised, stopped, quit trading.

I am 200% sure and convinsed that not 5% of the people who trade is profitable over the longer period of time. It is even not 5 people out of 1000 traders who are profitable.
They are all profitable over some short period of time but what I mean is making a real living out of trading year after year.

If I check out over all the years that I am around here on forex-tsd I can not count 5 names who are here since I started and who are still here and who make a living out of trading so that they don't need to do anything else and who can pay their rent or morgages and all the cost for living. Meaning having also children and paying for their costs and living and going to university etc.....

There are several people here who make some sort of a living so that they can support themself but don't put them in a situation with several children.
Or in other words making a serious income as A father would do to support his family.

The main reasons they can't support themself and their family is because their trading capital is only a couple of thousand dollar.
If you want to make a serious income as every other person who is in a serious business you need have a serious capital to trade from or you trade for other people (as an account manager) and work on a commission but then the total capital needs to be several hundreds of thousands or millions of dollar.

Those who want to make a living from a couple of thousand dollar ALL FAIL sooner or later.

Trading always comes to sound logics and can be projected to real life. Do you know in real life a business that you can start for a couple of thousand dollar and make from that investment a very nice and STEADY income ?....nope and me neither.

But the nice part is that every day there are people who believe they can make a living out of that money. They are the "fresh" money that a market daily needs. Without that fresh money I would not be able to make a living.

I know this can sound strange from someone who is mainly here on this forums to help and contribute.
But one of the main principle laws of nature is: eat or be eaten, without any mercy...
I eat others even that I get wounded now and then. But I make sure that nobody eats me.
And as said you can always project trading on to real life...if you want to be on top of the food chain, many small creatures need to be victimised to maintain the top of the food chain.
Same for trading.....There is no such thing as everybody rich....


Bon appetit....iGoR

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in which point (price), you trade against the sentiment???



and what is the sentiment on MONDAY , today ?

[quote=Tradesperson;313550]There are actually many factors that should've been taken into account.

Can you call someone a "trader" with a 200$ account balance? .


Forex is just about knowledge and experience. People learn hard to become pilots, doctors, lawyers, and they don't try to pilot a plane, cure a person or go to the court after a couple of weeks of some "demo-simulator". Same with Forex.

Well said.

If you find forex trading difficult, go for "managed forex account" with reputed and experienced forex manager/broker.

I know a Switzerland based forex manager/broker who has for past 9 years paid average profit of +32% p.a. (without compounded interest). He has 30+ years of forex experience and has a registered company. He trades with maximum risk of 5% per new trade (conservative risk structure).

Let me know if anybody needs my help.

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http://www.Panamoney.net Registered managed forex company paying 30% - 60% per month since 1 year.

Easy-forex.com Paypal, Credit card, Wire-transfer.

Email-: business.onn@gmail.com or investmenton@yahoo.com

I don't need any help. I am also an account manager and charge people the same commission and take the same risk.


Friendly regards....iGoR

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Success comes with knowledge. Knowledge comes with experience. Experience comes with time and hard work... (iGoR)
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