EURUSD - Trends, Forecasts and Implications (Part 3) - page 79
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Read here.... I think it's partly true...
It is probably possible to make a stable income from currency. But you have to provide services in the Forex market to do so. Otherwise you are playing against the theory of probability. Forex market participants themselves reveal sad statistics. At the end of the year only 1 out of 10 players are profitable. In the stock market, too, 90% lose to the index, but if the index is rising, then even if you lose to the index, you can stay in the "profit". In Forex you lose all the time to a declining currency index relative to real assets.The technical analysis, all kinds of trading systems and strategies are tricks of the Forex clubs. They give many people the illusion that they can create a perpetual motion machine. On paper, the portfolio size increases exponentially, but when the real transactions start, everything goes the other way. The illusion that the system just needs to be fine-tuned a little bit only feeds the gaming addiction.
The most common tricks of Forex advertising are the insane returns. Self-esteem and self-importance grow - only in reality it is blind and dangerous arrogance. It feels good to call yourself a trader. Not only that, playing Forex is passed off as work. Most ordinary people fall for Forex, feeling a sense of belonging to the financial world. But it is the involvement of the sheep with the shepherd who grazes them, shears them and then slaughters them for meat. (That's what I liked best.)
It is amazing, that the activity of all kinds of Forex-clubs is not regulated by anybody at all - neither by the Central Bank, nor by the Federal Financial Markets Service (the FSFM just published a warning). The casinos were moved to the closed zones, and Forex-clubs live and ride like cheese in butter. The Internet is overflowing with advertisements with fantastic guaranteed returns and promises of earnings. We estimate that the number of clients of Forex clubs far exceeds the number of casino clients. Even the pyramid schemes, which, one way or another, have to "disguise" their activities, are "nervously smoking on the sidelines" compared to them.At the same time, when it comes to the securities market, i.e. investments in the economy, including Russia, strict restrictions are imposed not only on informing about returns, but also on any mention of the prospects of the stock market and individual companies and mutual funds (an example of such informing is the obligatory block of information which you can see at the end of each of our articles).
What are you doing here then...lottery, lottery...no money to be made...drop it)))
Most ordinary people fall for Forex, feeling a sense of belonging to the financial world. But it's the involvement of the sheep with the shepherd who grazes them, shears them and then slaughters them for meat. (That's what I liked best.)
I liked it too...and what kind of bullshit they write after draining depots)))
Read here.... I think it's partly true...
It is probably possible to make a stable income from currency. But you have to provide services in the Forex market to do so. Otherwise you are playing against the theory of probability. Forex market participants themselves reveal sad statistics. At the end of the year only 1 out of 10 players are in the "plus".Read here.... I think it's partly true...
The most common tricks of Forex advertising are the insane returns. Self-esteem and self-importance grow - only in reality it is blind and dangerous arrogance. It feels good to call yourself a trader. Not only that, playing Forex is passed off as work. Most ordinary people fall for Forex, feeling a sense of belonging to the financial world. But it's the involvement of the sheep with the shepherd who grazes them, shears them and then slaughters them for meat. (That's what I liked best.)
I think you can't treat trading as a game)) all newbies think they can make a lot of money on the market at once) they take big risks... and their opinion on opening a position can be changed by any article on the internet.
+1...
I liked it too...and what kind of bullshit they write after losing deposits))))
When I worked in DC, I saw a lot of losers and how they lost their deposits.
Here's an example.
One such "expert", after listening to three theoretical lectures said: "I understand everything:
I understand everything... I am smart not stupid... I did well at school... I know maths and that's the main thing... I want to work straight away on the real thing... demo - I don't want to.
DC persuaded him to buy a mini account and not a maxi account as he wanted.
He sat down to work in a brokerage company. He is explained how to work with candlesticks and he switches to a line chart and says: I do not need your candlesticks since I may use mathematical model to gain some profit.
In the end: he empties the deposit, reloads it and almost lost it again. But the brokerage company managers intervened, entered the account in his presence and regained the loss.
I never saw this "folk craftsman" again.
When I worked in the DC, I saw a lot of losers and how they were losing depots.
Let me give you an example.
One such "folk craftsman", after listening to the first three theoretical lectures, said:
I understand everything... I am smart not stupid... I did well at school... I know maths and that's the main thing... I want to work straight away on the real thing... demo - I don't want to.
DC persuaded him to buy a mini account and not a maxi account as he wanted.
He sat down to work in a brokerage company. He is explained how to work with candlesticks and he switches to a line chart and says: I do not need your candlesticks since I may use mathematical model to gain some profit.
In the end: he empties the deposit, reloads it and nearly lost it again. But the brokerage company managers intervened, entered the account in his presence and regained the loss.
I did not see this "craftsman" again.
Psychology... If you can fool a bull in life... not on the market... that's all...
And then, of course, it is easier to write a fraud than to analyze for years why it happened...
Why one cannot become a musician and the other a good doctor...
But everyone can become a trader... Nobody ever asks that question...