$$my forex live call and my way to become a pro$$
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Can becoming a forex millionaire really be accomplished? I know that’s the dream of most of new traders. When you hear about the fact that only 5% of traders make money, let alone are millionaires from trading forex, it can be really depressing. To all of that I say “who cares???”
Who cares that there are traders (as you are reading this) who are crashing their accounts??
Look at it from the other side. Right now (as you are reading this), there is a trader who is just about to make his first million dollars.
So what’s the secret? What’s the difference between the guy who is crashing his account and the one who is becoming a millionaire for the first time?
Well……there are several reasons for this. The first one being that the millionaire is probably thinking outside the box. That’s one of the biggest problems for new traders to do.
We live in interesting times. Forex trading (for that matter…all of trading) has stopped becoming about comprehension of the market, and much more about toys and gimmicks.
When it stopped becoming about trading, and it became about things like forex robots, then that’s when the gap between the successful and the unsuccessful started to become bigger.
In case you don’t know what forex robots are, they essentially trade the forex market on your behalf. The don’t require any human interaction. You turn them on and all the buying and selling is being taken care of for you.
Doesn’t that sound incredible???? Well….most people say “yes”, and from a technical gadget standpoint, I guess it is.
Now, I want you to ask those very same people who love the idea of forex robots, how many of them have made money using them in the long term? I guarantee you the reaction will not be as positive.
You don’t have to take my word for it. Go on any forex forum, and find out for yourself. There are countless threads on different forex robots. See how many of them have been profitable in the long term on a REAL account (not on a demo).
The answer may depress you, but you need to know about it. The faster you learn this, the better off you are going to be as a trader.
Instead of gimmicks, it’s important that you focus on a forex trading system that is based on REAL principles, not gimmicks.
It’s time to throw the toys out the window where they belong, and learn what really makes the market tick. No more shortcuts. See the market in its purest form with price action.
Price action is basically being able to recognize price patterns in the market that predict future movement. This is what technical analysis is all about. It all has to looking at a simple chart and being able to read it, just like you would read a book.
Don’t become part of the 95% of the trading public that’s losing money.
Who cares that there are traders (as you are reading this) who are crashing their accounts??
Look at it from the other side. Right now (as you are reading this), there is a trader who is just about to make his first million dollars.
So what’s the secret? What’s the difference between the guy who is crashing his account and the one who is becoming a millionaire for the first time?
Well……there are several reasons for this. The first one being that the millionaire is probably thinking outside the box. That’s one of the biggest problems for new traders to do.
We live in interesting times. Forex trading (for that matter…all of trading) has stopped becoming about comprehension of the market, and much more about toys and gimmicks.
When it stopped becoming about trading, and it became about things like forex robots, then that’s when the gap between the successful and the unsuccessful started to become bigger.
In case you don’t know what forex robots are, they essentially trade the forex market on your behalf. The don’t require any human interaction. You turn them on and all the buying and selling is being taken care of for you.
Doesn’t that sound incredible???? Well….most people say “yes”, and from a technical gadget standpoint, I guess it is.
Now, I want you to ask those very same people who love the idea of forex robots, how many of them have made money using them in the long term? I guarantee you the reaction will not be as positive.
You don’t have to take my word for it. Go on any forex forum, and find out for yourself. There are countless threads on different forex robots. See how many of them have been profitable in the long term on a REAL account (not on a demo).
The answer may depress you, but you need to know about it. The faster you learn this, the better off you are going to be as a trader.
Instead of gimmicks, it’s important that you focus on a forex trading system that is based on REAL principles, not gimmicks.
It’s time to throw the toys out the window where they belong, and learn what really makes the market tick. No more shortcuts. See the market in its purest form with price action.
Price action is basically being able to recognize price patterns in the market that predict future movement. This is what technical analysis is all about. It all has to looking at a simple chart and being able to read it, just like you would read a book.
Don’t become part of the 95% of the trading public that’s losing money.
I guess the dream of most traders is to become a millionaire trading forex. But is it really possible? Sure. Absolutely! It happens every single day. Although, if you want be the percentages, I would for every new forex trader that became a millionaire today, you've got 10 other people who have crashed their accounts. So why is there such as big difference?
Well, to become successful in trading forex, you have to be able to think outside the box. That's a problem for most.
For example most traders love gimmicks. I don't mean this as a put down, but they do. They love things like forex robots. For those that don't know, forex robots are basically automated forex systems that trade without any human interaction. Most traders also love these indicators that tell them exactly when to buy and sell.
This is not what trading is supposed to be about.
In a nutshell, that's what separates the forex millionaires from the traders that crash their accounts. The traders who are crashing their account are looking for the shortcuts. They are looking for something or somebody else to tell them what the market is doing. The rich traders just simply know where the price is headed. It doesn't have anything to do with shortcuts. They just simply understand the markets.
The best way I can describe it is, traders can look at a simple price chart with no indicators.
Well, to become successful in trading forex, you have to be able to think outside the box. That's a problem for most.
For example most traders love gimmicks. I don't mean this as a put down, but they do. They love things like forex robots. For those that don't know, forex robots are basically automated forex systems that trade without any human interaction. Most traders also love these indicators that tell them exactly when to buy and sell.
This is not what trading is supposed to be about.
In a nutshell, that's what separates the forex millionaires from the traders that crash their accounts. The traders who are crashing their account are looking for the shortcuts. They are looking for something or somebody else to tell them what the market is doing. The rich traders just simply know where the price is headed. It doesn't have anything to do with shortcuts. They just simply understand the markets.
The best way I can describe it is, traders can look at a simple price chart with no indicators.
Hi sumitdasjoshi
I do not know if you know this guy : http://www.trading-naked.com/paul_rotter.htm
I found the name in the thread from nac : http://www.traderji.com/trading-diary/40071-nac-calling-jobbers-scalpers-47.html#post481627
I thought, it expands your last post as you give thoughts in that direction.
Have a nice Sunday evening
DanPickUp
I do not know if you know this guy : http://www.trading-naked.com/paul_rotter.htm
I found the name in the thread from nac : http://www.traderji.com/trading-diary/40071-nac-calling-jobbers-scalpers-47.html#post481627
I thought, it expands your last post as you give thoughts in that direction.
Have a nice Sunday evening
DanPickUp
Hi Sumit,
I suggest you give up forex and try exchange traded assets, if you want to trade currencies then trade euro futures on CME or even currecny etf's.
i am full time forex trader since some time now and believe me its the best advice I can give you. When i started there was nobody to give me this advice.
i saw some of your threads and recognize most of the systems you tried, like the NB system where u were showcasing ur high hit rate. It will not work believe me.
Forex is much much harder than stocks or indexes. But if you want to make a lot of money then the way to do it is to use OPM and just concentrate and making a few percent a month thats the only way, swinging for the fences on a demo account is just a waste of time. I have gone through all that you are going through now many years ago.
Please forgive me if I'm sounding blunt, i just want to offer best advice from my limited experience.
I suggest you give up forex and try exchange traded assets, if you want to trade currencies then trade euro futures on CME or even currecny etf's.
i am full time forex trader since some time now and believe me its the best advice I can give you. When i started there was nobody to give me this advice.
i saw some of your threads and recognize most of the systems you tried, like the NB system where u were showcasing ur high hit rate. It will not work believe me.
Forex is much much harder than stocks or indexes. But if you want to make a lot of money then the way to do it is to use OPM and just concentrate and making a few percent a month thats the only way, swinging for the fences on a demo account is just a waste of time. I have gone through all that you are going through now many years ago.
Please forgive me if I'm sounding blunt, i just want to offer best advice from my limited experience.
i recognised it, i can see you are jumping from system to system i did that too some years ago.
the reason you can not win on the retail level is because the broker is trading against you, which ever platform you use, more so if you use the MT4 or MT5 platforms, in addition to this central bank intervention makes the trading even more difficult.
Boston technologies has developed a plug in called the virtual dealer plugin, i and a group of other traders actaully sent a petition to Boston Tech asking about this and their answer was they developed it on a request from metaquotes!!! When we brought up the matter with metaquotes they just deleted the threads.
Well anyway i will not offer any more advice i am sure the people who have much more experience than me who are cheering you on have more knowledge and can offer better advice.
all the best :thumb:
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