Employ Someone and profit from Loss - page 2
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Mp -- its all about knowing the market !
while its fun to hear everyone's theories, the bitter and horrid truth of the matter is that ONCE LEARNED, forex is a rather simple (not always easy, but simple) trading situation.
THE PROBLEM is you all jump in with far TOO LITTLE UNDERSTANDING of whats going on, and you simply LOSE because of LACK OF KNOWING HOW TO PLAY THE GAME.
using demos with $50K fake money, which provides a "cushion" that you will probably NEVER HAVE, and then opening a real account with 500 to 1000 USD finds you in a great difference --- what was SO easy with 50K is almost impossible with 1000, and there it goes as sl's, margin calls and just plain poor judgement take it piece by piece.
then there are those who enter forex thinking all the advertising out there is leading them to the holy fountain of youth and gold, and they find out the same truths as do those getting off the trains and busses in Hollywood, looking to be the next great one.
THATS the negative, and its as REAL as your breathing, but theres also a solution
when you trade stocks (my old background) you HAVE TO LEARN cause there are no EA's or any kind of robot or systems --- its work, and you HAVE to learn to trade. Unfortunately, everyone jumps on MT4 and figures its gonna make a fortune, but if you simply fall back on what the stock people have to do, study and learn how the market moves and works, you may not become the next superstar, but by golly youre gonna start making money, and thats the name of this game !
enjoy and trade well
mp
MP -- zero sum ---- hmmmmm !
in actuality, if youre dealing with a broker, theres no such thing as "negative sum" simply because they play the game both ways.
While you think youre trading AGAINST other traders, they are actually short your long positions and HOW OFTEN do you see the price retrace, providing them the profit from their short, losses (or at least far reduced profits) for you, and then 5 minutes later the game starts again. You are NOT trading against another trader (unless you refer to their desk as a retail trader)
what is true is the spread, but thats really just the cost of doing business, just like any business dealings with one person marking up their purchase price to sell to another.
I pay $200 a month for my charts and feeds and MT4 brokers give it to you for the spread, and that aint such a bad deal at all !
Years ago i hated traffic cops cause they always caught me when i did something wrong and brokers are evil cause they take your money when YOU do something wrong, but blaming either group for OUR mistakes is not really the proper approach.
Forex has to be LEARNED --- you have to understand a multitude of things going on all at once, and that does NOT happen in a few days on a demo, while your mind simply wants to get out there and start betting.
anyway, with a broker at least, zero sum is one of those cherished concepts that really has no truth behind it, simply because of how the brokers take the OTHER side of your trade ---- you dont expect them to LOSE do you ?
LOL
enjoy and trade well
mp
i hate to say it but a large percentage of loss comes from paying spread to your "trusty" broker. Trading Forex is a Negative sum game, because to make money someone will have to loose more money than you plus their spread... Dam You BROKERS...
hi
that's right if you want to trade with live just spend a little money first using micro or nano lot until you feel confidence and you have suitable forex system
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MP -- 2 trains of thought on that one
there are, naturally, a few differing opinions on your statement, and one agrees with you completely --- the other says to trade a demo till youre SO good that when you switch over to REAL money the ONLY thing that will be on your mind is the money, but not the mechanics or method of TRADING !
I happen to ascribe to the second one but also realize how easily people get BORED of fake money, which often drives them into real money and losses MUCH TOO SOON !
i guess it comes down to TRY BOTH WAYS and see what works for the individual, BUT if i ran a REAL forex school, I would run it exactly as those for people working in the professions --- you dont get to work on real people or real money or real F-16's until youve practiced FOREVER and can handle ANY situation the markets throw at you.
its my opinion, but its also the way the rest of the world works, and GETTING IN TOO EARLY is the main reason for that 95% WASH OUT RATE to exist and to continue being reinforced.
FOREX is a different world, with different cultures and while some may believe the advertisements that its easy, the newb comes up against the BEST TRADERS in the world, and without decent training and experience, that newb simply doesnt stand a snowballs chance in Hades !
enjoy and trade well
mp
I think its better to start with a micro account and trade with micro lots and learn live trading, its different then Demo, you emotions change. Regards