Disbelief - It's luck not skill

[mtardif]

I've been trying for years to pursue this dream of forex profits. I am now convinced it is nothing more than a mirage in the desert. I've tried, and tried, and tried, and tried, and..... statistically, it is just inconceivable that someone could lose so consistently, so often, so much, so badly. If success were possible, my string of losses should not be so consistent. I would at least have an uptrend in equity at some point. But it's a steady ride down.

It is disgusting to have exerted so much effort for absolutely no reward. And let's face it, the odds in the long run are 50/50. The only way you can win is by luck. Getting in when your method yields more than a 50/50 chance, and getting out before your method goes below 50/50 chances. So it is a matter of timing. The luck of starting to trade a method at the right time, and the luck of stopping to trade that method at the right time. LUCK, LUCK, LUCK, without the luck, you're fucked.

I don't believe that forex can be traded profitably without considerable luck. Whatever is being claimed as a skill is really just luck. I can't believe that anyone is making money at this other than by the grace of luck. Let's just call this game what it is, the unlucky ones transferring their money to the lucky ones.

Too bad hard work doesn't get you anywhere. Too bad it boils down to luck. The only problem is that you can't buy luck. You either have it or you don't, regardless of whether you deserve it or not.

[hillmanimp]

You should try horseracing!!!!

[fxtrendline]

there're many people out there who live their life by trading as a main income, it's not luck , because they can repeat the profit again and again so they've a stable system, if it's luck it's impossible to repeat the profit over and over again

[eacreator]

In my experience losses are consistent when You have problems with risk management. Maybe You set stop loss too close and market volatility makes Your tranding unprofitable. Also there could be many reasons, I don't know the whole case. My advice would be - make a break from trading and come back later with fresh mind and wider look. That helped me several times . I think You are concentrating on details that are not important in this case.

Try to make system more dynamic, use several timeframes for the same system, take into consideration volatility and other market factors. If Your losses are consistent change core of Your system and not the details. I think there are many things You have not tried yet.

[oilfxpro]

Originally Posted by mtardif

So it is a matter of timing. trade a method at the right time, and stopping to trade that method at the right time.

I don't believe that forex can be traded profitably . Whatever is being claimed as a skill is really just luck. I can't believe that anyone is making money at this other than by the grace of luck.

.

You like other members of the 95% club of losers do not understand what trading is about.Trading ,let me explain , is about trading probabilities.If you have a profitable forex system , you operate as a casino operator , trading only those trades where you have an edge ,with an edge over the forex punters.

Until u know your edge , u will lose money

TRADING PROFITABLY IS NOT LUCK , BUT IT IS A SKILL .AND IT OFTEN TAKES 10 YEARS TO BECOME A HIGHLY SKILLED TRADER

Top hedge funds boom despite recession | Business | guardian.co.uk


OILFXPRO

[sitestuff]

Loosing money in Forex is called "Life".
Making money in Forex is called "Business"

It's not luck!

[nononsense]

This just isn't true. But your behavior is typical. I make my living trading. i trade stocks and Forex. I use the exact same systems for both and consistently make money in both. I have bad days, but I don't have bad months anymore. Forex is more luck driven than the stock market, but only slightly. Do you think that the gamblers on the World Poker Tour are just luckier than the average poker player? or do you think maybe they have learned something? They win because they play only when they have a mathematical edge. When they lose that edge, they fold. When they have it, they gamble. Like the professional gambler, the pofessional trader bets on probabilities instead of possibilities.

The fact that you've consistently lost money with absolutely no upward movement tells me that you either need to completely change what you're doing, or you need to stick to doing one thing over and over and over again. It is unlikely that any system can fail 100% of the time. You're probably buying lows and getting stopped out. Tight stops, right? They'll kill an account FAST!

Tim

[oilfxpro]

Trading must be luck then ?20 years of consistent profits with luck?


Jim Simons the world’s greatest trader .Jim simons has held top position among the top earners for over 1 decade





What makes a great trader is consistency in earnings , year after year.





His Earnings

2008 $2.7 billion

2007 $2.9 billion

2006 $1.7 billion

2005 $1.5 billion

2004 $900m



34 percent annualized net return since 1988



Charitable donations

RECORD $60M TO SCHOOL



RECORD $60M TO SCHOOL - New York Post



Video - New York Post Online Edition - New York Post





In 2008 James Symons was the top earner with $2.5 billion amongst the top trader.He has done it year after year for over two decades.What this proves is automated /computer models work better than the brain in trading.



March 25 (Bloomberg) -- Following is a ranking of the highest-paid hedge fund managers in 2008, according to Institutional Investor magazine’s Alpha publication.

The top 25 managers earned a total of $11.6 billion in 2008, the third-best year on record, according to Alpha. The following table is ranked by the highest money earners:



Rank Person Firm 2008 est.
1 James Simons Renaissance Technologies Corp. $2.5 billion

[fxtrendline]

Originally Posted by oilfxpro

Trading must be luck then ?20 years of consistent profits with luck?


Jim Simons the world’s greatest trader .Jim simons has held top position among the top earners for over 1 decade





What makes a great trader is consistency in earnings , year after year.





His Earnings

2008 $2.7 billion

2007 $2.9 billion

2006 $1.7 billion

2005 $1.5 billion

2004 $900m



34 percent annualized net return since 1988



Charitable donations

RECORD $60M TO SCHOOL



RECORD $60M TO SCHOOL - New York Post



Video - New York Post Online Edition - New York Post





In 2008 James Symons was the top earner with $2.5 billion amongst the top trader.He has done it year after year for over two decades.What this proves is automated /computer models work better than the brain in trading.



March 25 (Bloomberg) -- Following is a ranking of the highest-paid hedge fund managers in 2008, according to Institutional Investor magazine’s Alpha publication.

The top 25 managers earned a total of $11.6 billion in 2008, the third-best year on record, according to Alpha. The following table is ranked by the highest money earners:



Rank Person Firm 2008 est.
1 James Simons Renaissance Technologies Corp. $2.5 billion

that's good profit ,what's forex system did he use ?

[oilfxpro]

Originally Posted by fxtrendline

that's good profit ,what's forex system did he use ?

It could be the OILFXPRO system or something similiar

OILFXORO