So, how many people actually make money? - page 2
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Since I dived into Forex trading, I've opened three live accounts, deposited six times, puchased two commercial EAs and one subscription (this one).
So far the total money that I have invested in Forex is still bigger than the returns that I get, so in the net sense, I haven't reached the break-even point yet.
But I know people who made lots of money on Forex - so it is possible. Forex (specifically automated trading) is not a lost cause.
I have several EAs from this forum who are making good returns (Alpha9 and Firebird are tops), so if all these demo money are real money, I would have reached the break-even point already.
and one thing is do uoy ea run full auto.
I see them more like extra hands. Even now thing when after 3 h i go home i will manuallu control, most like stop trade. Golwarrior now 100 pip winning eurus.
Its enoug for friday.
Best is that they enter market when you sleep or work.
Normally have so liten time to trade, or those nice big rallys almoust all come when you are not near pc.
And it makes people enter in market not so clear places.
Ea can be big advanse on this.
I think the folks that start out on the site without experience get beat -- regardless of the ea's as most are not very good although there is a lot of skill in putting them together. That is not the problem.... Ive been at it for about 3 years and its only been in the past year or so I have been making money.
There was a lot of time it took to learn as I work full time also.
Time was spent:
--learning what forex is and works.
--selecting a broker.
---understanding trades.
--going through about a billion systems and finding that none work for one reason or another.
--studying things like ellliot wave, gartley, fibs etc.
-- spending a lot of time learning to program. going through the martingales stuff.
--overcome trading fear.
After blowing out a zillion demo accounts, wracking my brain and getting the snot kicked out of me. ... Spending the hours upon hours looking for the edge. .. I have a limited desire to share various concepts that are not part of the standard forum stuff. Sorry, but those have to be traded for and I just can't find it my "heart" to give those away with the exception to maybe coders guru who is a master programmer. Anyone who is successful probably feels the same way.
Thats, a weird point. if its the only profitable -ea .. Why not a $1000 a pip and retire in 2 weeks. Ie. It tells me already it has risk and potential failure.
I don't blame anyone trying to sell. But, the "ive got enough money" but just "want to share with you" does not ususually hold much water. I would pass on this opportunity. I am sure there are seminars and everthing else you paid for. !
I'm trading real money and am profitable.
I am not using any EAs or techniques offered on this forum, however, this forum has been invaluable to my learning and offers plenty of stimualtion for ideas and many useful tools.
Pointbreak has been the only EA I have ever used (and continue to use) that is consistently profitable.
Thats, a weird point. if its the only profitable -ea .. Why not a $1000 a pip and retire in 2 weeks...
That takes a lot of capital...!
well, thats good its been a positive for you.
Dont get me wrong, I believe in ea's..just that most, if almost all I have seen are missing important ingredients that have to be installed to be successfull in the market. Maybe the ea your looking at has an edge. I don't know. On a side note, I dont care much for martingales -- like predator or terminator--- typically the programmed ea's like that keep the trades open. IF that is part of your ea's logic. My thinking is that if your wrong once, how are you going to be right by adding on to the trade? You will blow out. Just give it time. I think also that stop losses as well as extending the trade are very important to make money. Show me an ea on this site that does eithor of these effectively? I certainly cant find one. Also, there are other aspects I wont mention that are even more important to go into an ea.. Believe me, I am not looking to sell anything - nor would I want to like alot of web sites. I have plenty of folks jumping out of there chairs to invest huge capital for an easy $ as long as I keep producing effective returns. But the guy, at the beginning of the thread wanted to know why you just don't throw an ea like firebird on the market and make millions. Well, I would just say its a little more complicated than that.
Think about that, people who are a lot smarter and richer then the rest of us only return at best 20% annually.
True but remember, the more money you're playing with, the less % risk you're gonna take, that's just a natural instinct.
True but remember, the more money you're playing with, the less % risk you're gonna take, that's just a natural instinct.
That's true, besides, is one thing 20% of 500$, other thing is 20% of 50.000%...
So, how many people actually make money?
Hello everybody this is my first posting on this forum!
As a new person to this forum, I thoroughly enjoyed this discussion on this thread and would have wanted to ask the same question myself!!
There seems to be a lot of people putting themselves out and sharing results and back testing and forward testing and coding comments which is great!!
I believe the ones making a lot of money would still be looking for new and better EA's anyway, and would have the time to help others also.
But whether they tell their own personal secrets (their own holy grails!) well I doubt that they would just give away a few years experience for free on a forum to someone they dont know.
The scary thing in this area seems to be that you cannot even trust some of the vendors to provide accurate results!
Now thats scary!
Looking forward to getting into the nitty gritty on this forum!