Are there any people who got rich off forex? - page 2
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
We will all die at some point, and for most people that fact goes without saying... But you can have a lot of successes and accomplish a lot of things in your life, or you can, like in "The Resident's Blunder" - "... lived unnoticed and died quietly...".
The same applies to trading systems - the main criterion for judging their quality (at least for the thinking part of the critics) should be not how long they can survive without losing money, but how much income they bring before they expire...
We all will die one day, and for most people this fact goes without saying... But you can achieve a lot in your life and do a lot of things, or you can, as in "The Resident's Blunder" - "... lived unnoticed and died quietly...".
It`s the same with trading systems - the main criterion of quality evaluation (at least for the thinking part of critics) should be not how long they can survive without losing money, but how much income they bring before they expire...
yes, that makes sense.... and yet... there is a concept of stability or robustness or predictable return on investment... if a person opens a grocery shop he can calculate the entire system of his enterprise... i.e. he knows exactly what he will earn, why he will earn money, his expenses and income... all this does not exist in trading...
what i'm getting at is..... if ordinary business has a calculation, then in trading there is only luck and nothing more.... any system is just a guessing game... that's why stability is so common on all forex forums... everyone is always interested in the first thing... people ask if they can earn x% stable... that's the main interest of people...they want stability.... what good for someone if you tell them you can earn 1000% a year, take a mortgage, buy a house, and the next year you sell out and stay in the street... so nobody lives from trading... and everyone goes to work or gets a pension... because it's stable.
If a person wants to build his business, to live on the income....but one cannot rely even a little on trading where everything is determined by chance, where the concept of calculation is real but it is completely bogus... Traders think they trade at the rate, but in reality they give themselves to fortune...
I read about one case. One PAMM manager was using an Expert Advisor based on an averaging martin. One day, during a non-trend, the Expert Advisor suffered a huge drawdown and was on the verge of losing money. This manager asked his investors to replenish his account saying that after such a reversal of the price there would be good profit. And there were some of them, who agreed to take the risk and replenish the account. And indeed, soon after the price reversed, the PAMM was saved and managed to come out of the drawdown with a good profit. All the investors were happy. That was it. We have to work with investors). Well, with signals it is certainly another case. It is not like in PAMM where all investors are in one boat. Here each user of the signal decides for himself what to do.
I've seen it on one of@Sergey Gritsay' s PAMMs a couple of years ago, if I'm not mistaken.
...if a person opens a grocery shop he can calculate the whole system of his enterprise ahead of time...i.e. he knows exactly what he will earn, why he will earn it, his expenses and income...
And in reality, the situation is as follows - he estimated, predicted, calculated, made the case (the shop in particular) ... And then life begins to make adjustments in response - drought, crop failure, avian flu, African swine fever (or whatever the hell the pundits are going after, as they do all the time - examples from the past: ragweed, Colorado potato beetle, American white butterfly...), tax code changes, bank loan guarantor goes bankrupt, the Fed gets screwed, another financial bubble bursts... etc. etc.
And you say "stability, predictability".
In fact he naively or due to lack of life experience DOES think he knows exactly...
And in reality the situation is as follows - he has estimated, predicted, calculated, made up his mind (the shop in particular)... And then life begins to make adjustments in response - drought, crop failure, avian flu, African swine fever (or whatever the hell the pundits are going to put up with, as they do all the time, examples from the past - ragweed, Colorado potato beetle, American white butterfly...), the tax code gets changed, the bank loan guarantor goes bankrupt, the Fed gets screwed, another financial bubble bursts... etc. etc.
And you say "stability, predictability".
Vladimir, I see that you are quite intelligent ... that's right ... we are always facing random events ... and shortcomings ... I meant the incommensurability in quantitative terms in the parameter of stability of trading and classic business ...
You know, if you don't look at the indicator or parameter itself just for its presence, without looking at the quantification of the parameter, i.e. volatility how volatile...risk magnitude of risk...probability of going bust...how high...
you could then compare the game at the vending machine to a grocery shop for example... 1. You can make money there and there. 2. There's risk in both. 3.both have the instability factor...
so put an equal sign on.... but you obviously cannot put an equal sign on....
But among just traders, I think 0.000 people have gotten rich just from their money and their trades... because in trading it is impossible to make money through speculation... it is simply impossible, full stop.
It would also be helpful to clarify what is meant by the word "get rich" in the question "Are there any people who get rich off forex?"
Does it have to be "buying your own island" or some other such nonsense as a determinant of being "rich"? Of course it doesn't.
But such seemingly "little things" as payment of bills (land, rent, education of children [institute] and grandchildren [school, kindergarten], electricity, heat, telephone, etc.), housekeeping, repairs, summer house expenses, transport, etc., etc., etc. are current expenses at constantly rising tariffs for literally all items - that is, in general, ensuring a normal life. Doesn't that fall under the definition of "getting rich"?
That's kind of a naive question to bring up... And it sounds a bit childish as well...
Strange conversations are going on here.
1) Becoming a billionaire on forex may not be realistic, but raising a fortune and distributing it correctly is what is real and important.
Let's assume that you may have earned 30 million roubles in Forex. What to do with these 30 million rubles? The right thing to do is to invest it. Invest in buying real estate, invest in buying shares, and finally invest in your own business.
Most traders, over time, move into the ranks of ordinary investors and stop trading.
2) For some reason it is mentioned here that it is more stable to open your own shop (which is not very stable) than to trade on the forex market. Somehow it's mentioned here that it's more stable to open a shop than to trade.
It's not a business, it's a job. Any business where you do not get a salary from your boss and use your own money is not stable.
3) Many people see forex as a place to make a lot of money and you don't have to put a lot of effort into it. I spend 10 hours a day on Forex market on good days and up to 16-18 hours if you get losses, and you spend 5 days a week, by the weekend you have nothing and the whole weekend is a piece of shit, you have no nerves, you are exhausted, and on Monday you start "Groundhog Day" again.
4) Those who earn big fortunes in Forex do not post on forums and certainly do not write anything. Hundreds of thousands of people around the world trade on the Forex market and only a small part of them are active on forums.
... I spend 10 hours a day on Forex on good days and I'm up to 16-18 hours if my positions are losing and I'm down 5 days a week, by the weekend I have nothing left and you're a piece of shit, no nerves, no energy, you're all worn out and on Monday you start the "Groundhog Day" again.
...