Forex Trading is easy or hard ??

[BeginnerJoe]

I haven't read all of your posts, obviously, but those that I have encountered since becoming a member of this site have been total nonsense. Every single one of them. It annoys me to have wasted my time reading them on the off chance you might give an indication you have any idea what trading is about and have something useful, or even half-intelligent to say. You clearly don't. This post of yours which I quote was my breaking point.

There are a few other members that similarly to you, are quite obviously devoid of any idea whatsoever. I'm not talking about the ones that think this is all just a fun party and make jokes all the time - they're harmless. But you're a bloody menace to anyone starting out. They might actually waste time, energy, effort and even their money following up some of your staggeringly stupid pronouncements. Is there any way I can put you and others that could be considered retarded into a group so that I wouldn't have to accidentally read any more of your drivel?

I can't read what you say. You are on my ignore.

 

[the hare]

I can't read what you say. You are on my ignore.

This habit of ignoring people who could help you is quite fascinating

 

[wackypete2]

I can't read what you say. You are on my ignore.

How did you quote his post if he's on ignore?

Peter

 

[Predicabo]

I am making an assumption that most traders on this site involved in trading FX do so using technical analysis and charts and that they do so on fairly small timeframes, perhaps even smaller than the hourly. I’m also assuming that the majority are doing vanilla directional plays: buy, sell higher (or sell, buy lower) rather than anything more complex involving derivatives, futures or options etc. Straight directionals using spot FX on an intraday basis. I am also allowing for the fact that the person starting this thread probably has an undisclosed agenda and is in some way connected with either a signals service or some kind of software for traders, but as some new traders may chance across this thread, I thought it might be useful to actually answer the question posed.

It is Wednesday, March 6th 2013. Take a look at audjpy chart on any sub-hourly timeframe. Not the 1 or 5 minute as they are just noise, but anything from the 15 minute to 1 hour charts will do. Is there any point in time today that you could have looked at any of those charts and not noticed the price was moving up, rather clearly? You could have jumped on at any point and got off at any point and you would have been unlucky not to have made money in the process. Same with euraud pair, you’d be selling rather than buying to pen, but essentially it’s still obvious what to do. Contrast that with a chart of eurcad. Flat, fuzzy, spikey, tight, awful. You wouldn’t have traded that.

The first and last question you ask yourself when you look at a chart is: Do I like the look of the action? If you don’t, if it’s not blindingly obvious what you should do, you move on, or sit out if there are no current opportunities.

What about audusd. Not quite so done and dusted is it. You might have been tempted into any one of two or three moves depending on your timeframe chosen and you’d likely have been taken out on at least one, but only for your stop which is placed at a logical support/resistance level and from where you entered your position at such a level that made the pips risked a viable trade in relation to the likely legs on the move given the pair in question and its recent price action. This losing trade would be more than compensated for by the successful trade(s) of the other leg(s) which you allow to run until they don’t look like they’re going to run much more (lack of new highs/lows on the last few bars for instance or whatever you want to use to establish momentum and intent).

What’s hard about this?

 

[Lightning McQueen]

Good Call

Panama Joining

I would suggest admin check this member and see if they share the same IP or have very similar ones.
http://www.trade2win.com/boards/members/453122-harreymartin.html

Suspicious activities noted here:
TopStocks > General > Why Most People Lose Money in Stock Market

A little internet digging finds both nics linking to mostly the same companies and the OP claims to be a Market Researcher for Max Commodity. (Profile here says SEO exec).

Peter

if there were any ad links here, sig or otherwise, they've been cleansed as no linking is apparent. other than there may have been sig links (possibly?) there seems little to be concerned with? or is that completely missing the point?

 

[Lightning McQueen]

How did you quote his post if he's on ignore?

Peter

you can peek?

 

[wackypete2]

What’s hard about this?

All true, but also easy to say for anyone who has been doing it for a long time. Beginners suffer from lack of discipline, fear, greed, underfunded account, overleveraged trading, etc...
All that is what makes it extremely difficult.

Peter

 

[wackypete2]

you can peek?

Yes, but that takes much more work than Joe is accustomed to.

Peter

 

[wackypete2]

if there were any ad links here, sig or otherwise, they've been cleansed as no linking is apparent. other than there may have been sig links (possibly?) there seems little to be concerned with? or is that completely missing the point?

Just some info. OP may not be who she claims to be. Noticeably absent is a coherent response in any of her threads, indicative of SEO tactics. Did you click the first link I provided

Peter

 

[BeginnerJoe]

Yes, but that takes much more work than Joe is accustomed to.

Peter

True. I have no idea how this peek works or want to put in the work to find out.

If I put people on ignore, it's a lot less work for me to just ignore them than to go click some buttons.

 

[Lightning McQueen]

Just some info. OP may not be who she claims to be. Noticeably absent is a coherent response in any of her threads, indicative of SEO tactics. Did you click the first link I provided

Peter

yes i had seen the pic link up with that site before, there would have been something about the post to have bothered to google the image. prob a link, or something else, i do not recall.

*it was a copy/pasted post that caught my eye

 

[Predicabo]

Beginners suffer from lack of discipline, fear, greed, underfunded account, overleveraged trading, etc...
All that is what makes it extremely difficult.

I don't get the under-funded/over-leveraged bit. The majority of mass retail brokers are tripping over themselves to attract business with mini and even micro lots. Leveraging is under the direct control of the trader. Naturally the broker sets leverage ratios per asset or asset class, but it's up to the trader how much of that leverage they theoretically use. Risk control and money management have been turned into industries in their own right which is a ridiculous over-complication. If position size is based on risk and risk is set at a sensibly low level as a percentage of total capital those two terms are no longer contras for the trader.

Fear and Greed. Greed first. Setting too tight a stop is a psychological aberration around value-for money. If daily range is say 80 pips and your entry level is 60 pips from your stop and the range so far that day has been 40 pips, do you want to take that trade, all things considered? There is no right/wrong answer. You either do or you don’t. What greedy traders do is ignore their fine analysis on where to place that stop and they move it up/down to a more ‘appropriate’ level say 10, 15 or 20 pips away from their entry where they will be ‘properly’ paid for their efforts – and they get hit. Only to find had they left their original stop level in place they would have gone on to make a profit. Small or large, a profit. You don’t go broke making those.

Fear. Fear of what? Losing? Start with assuming every trade you take is going to be a loser. Because the next one might. Assign your small risk to the potential dustbin of failure. It’s already spent, gone. If you go on to make a winning trade, great. But start each trade with the assumption it’s going to lose you your capital risked. Takes the pain away. Fear of giving back what you’ve already ‘earned’. Getting out too quick, killing it on the first minor pullback. It was never yours in the first place. Assume you’re only going to take half the trough-crest, or just a third. Or a quarter. Never move your stop just to get to breakeven. You move your stop up to a new technical support/resistance level only.

I have an idea that many new traders look back on the charts they’ve been trading during the day and scratch their heads as they look at the blindingly obvious compared with what they did in reality. Getting in if it looks good, staying in while it continues to look good, using sensible stops and small amounts of risk, getting out when it’s demonstrably (whatever your version of this means) had enough and not before and only using technical levels to move your stop up/down behind the price action not just to breakeven.

 

[wackypete2]

You totally and completely missed the point. Not to be rude, but you appear out of touch. How long ago were you a new trader? What kept you from being profitable at first?

I don't get the under-funded/over-leveraged bit. The majority of mass retail brokers are tripping over themselves to attract business with mini and even micro lots. Leveraging is under the direct control of the trader.

Exactly! and they overdo it, for many reasons. It has nothing to do with the broker except the broker provides the account and leverage.

You are under the impression that new traders have no fear, plenty of discipline, good money management skills, etc... Just look at what gets posted here and you can see that's completely false.

Peter

 

[BeginnerJoe]

It's a known fact people here know more about how to talk than how to trade. But everyone is a winner on the internet. There's plenty of free pips to go round for everyone and there's no need to fight.

 

[wackypete2]

No fight. Just a sensible discussion.

Peter

 

[Lightning McQueen]

Just some info. OP may not be who she claims to be. Noticeably absent is a coherent response in any of her threads, indicative of SEO tactics. Did you click the first link I provided

Peter

i don't believe there is any seo stuff going on, this is clearly a copy/paste poster.

from the top of their post listing most of the posts i looked at were copy/pastes. i would expect that trend to continue the further down the list you go.

nobody seems to be looking or checking these posters, does it matter as long as the arising discussion is good?

http://www.trade2win.com/boards/stocks/166806-how-can-i-buy-indian-stocks.html#post2080628 is copied from NRIs buying Indian stocks face some restrictions - Livemint


http://www.trade2win.com/boards/commodities/153752-daily-commodity-trends-10.html#post2081722 mostly copy/pasted from valuenotes.com but in reality a heinz57 of copies


http://www.trade2win.com/boards/stocks/166842-aapl-looks-good-bounce.html#post2081678 is copied from AAPL Looks Ready Bounce & The Next Best Trade Ideas - Chris Vermeulen - Seeking Alpha

 

[cablemonster]

I would hazard a guess that there are no more than 3 long term profitable traders who post here and I dont include myself in that category. I am still in the reformed gambler category. Trading is that hard.

 

[BeginnerJoe]

I would hazard a guess that there are no more than 3 long term profitable traders who post here and I dont include myself in that category. I am still in the reformed gambler category. Trading is that hard.

3 out of 25 odd active regulars. That's an excellent rate. I will now have to go re-evaluate my 99.5% looser rate.

 

[cablemonster]

3 out of 25 odd active regulars. That's an excellent rate. I will now have to go re-evaluate my 99.5% looser rate.

I did say no more than 3.

 

[15 min tlb]

I would hazard a guess that there are no more than 3 long term profitable traders who post here and I dont include myself in that category. I am still in the reformed gambler category. Trading is that hard.

I have yet to see a true professional on this forum.I hope you learn from this.

Professionals don't trade cable , they trade egbp , you can look at trader's posts and see all.

George Sorros traded egbp .