your maths isn't right....just because a pair might have 140 pip range in a day doesn't mean you can profit from 140pips, but you can definatly profit from more than 5pips. also some days i won't trade because the market isn't as easy to read, some days it's not as safe to trade.

I think you must just be a low performance trader, it's no worries on my part because i'll be making money from you

if you spend enough time learning things yourself and understand it's not about becoming a millionaire over night your'll realise you can make money.

when you say 95% of traders blow their account, how do you know this? do you run a broker or something?

Article By William Piker: As 90-95% of new forex traders lose money within the first 3


Saturday, September 22, 2007
Forex Myths - 5 Myth's Novice Traders Fall for and Lose

Here we will outline some common forex myths that cause novice traders to lose. If you fall for any of them you will lose to and join the 95% of losing traders - lets take a look at them.

1. Forex Trading is Easy

It may look easy but it’s anything but 95% of traders lose! You wouldn’t think that from the amount of people who sell track records on the net promising you un-told riches if you follow their systems.

Many novice traders believe they can follow these systems blindly and win but lose. Making money in anything requires effort and forex trading is no different – there is no free lunch in any form of making money and you wouldn’t expect their to be - but novice Forex traders fall for “its easy story” and lose quickly.

2. Day Trading Makes Money

More traders try forex day trading than any other form of trading despite the fact it simply doesn’t work. All volatility in short term time frames is random so you can’t get the odds on your side – PERIOD Making money forex day trading has been spread by vendors cashing in on traders naivety and greed – if you want to prove that it doesn’t make money simply ask for a track record of real profits. You wont get one.

3. Not Understanding Volatility

If you don’t know what standard deviation of price is learn about it quickly or lose. Most traders have no idea of the impact of volatility and over leverage. They have stops placed incorrectly, that are taken out by normal volatility and the trader ends up with a loss.

Sure you can leverage 200:1 - but that means volatility will kill you. Over leveraging is one of the commonest mistakes made by novice forex traders and simply ensures they lose.

4. Trading the News

Will Rodgers once said “I only believe what I read in the papers” now he was joking but huge numbers of novice traders try and trade news reports and events such as non-farm payroll.

They let their emotions come into play and fail to understand the fundamentals are discounted instantly, so their always playing catch up. The news is clever, interesting, convincing and in most cases no use in helping you enter trades.

5. Not Being Able To Run Profits!

Most novice traders have less problem liquidating losers than they do in trying to run profits. Most traders get so excited they have a profit they get nervous and feel they need to snatch it before it gets away and that’s what they do.

In many instances these traders are right about the direction of a trade but get a mediocre or average profit when they could have had a huge one. If you want to run profits you need courage and conviction and the ability to take dips in open equity.

GET the Basics RIGHT or lose

The above are 5 common errors made by novice forex traders and you need to avoid them at all costs. Most of them occur simply because forex traders are not concentrating on formulating their own forex trading strategy and trying to take short cuts. Forex trading can and does produce huge profits for savvy traders but never underestimate its power to take your equity – do your homework if you want to win.

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developer of professional quality expert advisors for fully automated trading

well known myth 95 %

OANDA FXMessage: The truth about why 95% of traders lose.

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developer of professional quality expert advisors for fully automated trading

Hi

Nobody has come out with any proof actual accounts traded.

Just claims of NO LOSS SYSTEMS and CLAIMS OF IMAGINARY PROFITS bySCAMMERS

Only proof is forward tests provided by Elite section .

Until proof is proovided the myth and forward tests are correct

Regards

El CID

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developer of professional quality expert advisors for fully automated trading

I understand what you're saying. I'm not sure the others are understanding, but it's true. No one can profit off of every swing the market makes.

Give the 'professionals' some credit though...maybe 10 pips a day?LOL

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"Let the losers worry about losing"

The average professional will be lucky to make 5 pips a day.............trading 8 to 10 hours a day infront of a screen

Now look at Better's EA , not Better's manual trades.........these are two different things

Better's EA makes about 400 pips a month ,trading 24 hours a day................do simple maths ..............and it equates to 133 pips per 8 hour session.........................or about 6.5 pips per day using a 8 hour trading day

All the statistical evidence and reasoning is posted

If you argue against my posting , you argue against facts and eveidence ...............and your arguments are without proof

OILFXPRO

iF YOU COULD MAKE 10 PIPS A DAY , YOU SHOULD ENTER THE CHAMPIONSHIP, you will win it by a mile

OILFXPRO

I was being sarcastic thats why I put '' around professionals. Meaning everyone making these claims say they are 'professionals'.

If I made the kind of trades and pips some people on here claim they make I wouldn't be on a forum typing thats for sure. I'd be in my LP 640 cruising at 8 mpg. But anyways...

I haven't found an EA I like enough to trade real money. The search continues... I've ran across a few. The price has driven me away.

Until then, I will keep trading manually.

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"Let the losers worry about losing"

I have looked at all the commercial EAS ,the best one makes under 100 pips a month................but there is not enough forward tests or back tests on it.There are skeletons in the cupboard of the seller

OILFXPRO

If you don't mind me asking, Which EA are you talking about that produces 100 pips a month?

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"Let the losers worry about losing"