Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Thanks for banning this guy. This is the kind of misinformation vendors push to try and get people to buy something. Forex has no volume so with his comment that means you can't trade forex. So I guess everyone must need order flow and must watch the DOM to trade (Sarcasm). Someone I've just become aquatinted with pulled down 6 figures this week using nothing but price and a few MAs. He showed me his account. BIDS was just trying to get traffic to his web site.
I fell that being in the 95% group is a total waste of time and should look at /do something else.
I've read about HFT somewhere and said the program will continue buying/selling even at the high/low and offset the position with option or some other correlated instrument executed at the same time.
I guess that retail trader will be at a disadvantage against institutional and huge funds with vast resources.
It will be hard to get out of the 95% and forever be trapped.
I hope that I can find a way out of this trap and survive among the big sharks.
To live with sharks you can compete with them...
Or you can benefit from their left-overs.
Or you could be wise and become a pilot fish.
The pilot fish lives and thrives with sharks.
Sharks do not eat them.
They eat the things that infest sharks and 'clean' the shark and the shark does not eat them.
Now the direction is up to you...
Compete or Complete.
But SURVIVE with either choice.
Rejoice in the Thunderstorms of Life . . .
Knowing it's not about Clouds or Wind. . .
But Learning to Dance in the Rain ! ! !
I'm not being flippant but does it make sense to enter a position, when the probability for Profit = MAX and Probablilty for loss = MIN or otherwise Buy Low / Sell High? Imagine if we could do that .....
Unfortunately, there is a lot of bad advice out there, and lots of people who sound knowledgeable actually have no idea what they are talking about. It's no wonder that newbies get fooled all the time.
If you want to learn to trade, especially daytrading, you should realize that it's probably going to take you at least a few thousand hours to have any shot at it. You just have to stare at the market for a very long time, observe what it is doing, and figure out your own way to take advantage of it. The main reason 95% lose is because they don't put in the effort - they study the market for a few weeks, buy some course from a guy who claims to give them a trading system, and then put real money on the line. Needless to say, they get slaughtered, mostly because they don't have any real understanding of what is going on. You can't just follow a system without understanding market action and how your system works within it, because when real money is on the line and the pressure is on, you will crack. The only solution to this is hard work - lots of it.
If you are really serious about this, plan for and expect to put in at least a few thousand hours of time (2000 hours is 1 full year of work at 8 hours per day, 50 weeks per year)... and that's BEFORE you try trading with real money. Just observe, and/or trade on a sim until you are really, really good. How do you know when you are really good? When you stop asking questions on trading forums, and start answering them from a place of knowledge - and not until then. If you trade one penny of real money before you do that, you will not be successful.
If you don't want to do that and prefer to try the easy way, no problems - there are tons of "educators" out there willing to tell you how easy trading is and how they can teach you, if all you will do is pay them the low, low price of $500 per month, or $5000 for their trading system. I've seen a lot of these people present their "market knowledge", and let me tell you, most of them absolutely SUCK. So if you try to take the easy way out, all the sharks in the pool will simply be thanking you for your money. Good luck in your efforts, but remember that luck actually has very little to do with it - hard work and time will get you where you want to go, and nothing else... if you stick to it for long enough, you may make it.