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trading forums suck
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[QUOTE="Freevestor, post: 150696, member: 55413"] If you think forums are bad, try any social media outlet - Instagram may be the worst out of all of them. Forums are a part of the problem, yes. One of the biggest problems as Anton Kreil astutely points out is that traders treat the [URL deleted] trading experience like they are at a slot machine in a casino ... consider the following: [LIST=1] [*]How much does a typical gambler bring to a casino to play slots? Contrast that to the average retail FX depositor (notice I'm using the term 'depositor' because quite frankly they are treating their money like the way a punter would). It's not too far off. [*]Why is the typical slot player playing at a slot machine? Hopes of winning big with one pull. (A minuscule number are actually doing what is called advantage slot play, which results in +EV.) Why is a retail Forex Trader in the market? Winning big, hence why all of the Instagram motivational quotes are Wolf of Wall Street (Jordan Belfort was not a trader) stills and pictures of sports cars, cash, and Rolex watches with quotes about taking stupid risks and "hard work". [*]What is the method by which a slot player takes when playing at a machine? They are playing one machine at a time and taking a manual action to playing the negative EV game. What is the method that the vast majority of retail FX traders take? They use one trading strategy at a time and they do not always use their full true leverage because they think that they are "smart", but they are still trading to lose. They have to put in "screen time" and require months of trading experience to even consider making a deposit and then still lose their money because market conditions change. They use manual trading methods and fail to test out their strategies through different market environments. They are trading manually and blind, they are playing a negative EV game. They are losing time and money. [*]When losses occur, what happens next? Brokers have to push for re-loads just like casinos. Unlike casinos, brokers ideally do not want to push for re-loads and hunt down new clientele... [B]it's expensive[/B]. Yes, there are brokers that B-Book, but there are others that do not. [/LIST] It's 2018, with verified copy trading and Managed Forex solutions information available there are opportunities to emulate what Institutional Finance firms do to earn profits. Diversify strategies and holdings, hedge risks, automate, and make data-driven decisions. I'll add this, the "95% fail" figure is a myth. Those perpetuating that myth are the individuals selling the snake oil solutions and those trying to justify their losses. Of course, the myth emanates from forums. Brokers have already released their unprofitability figures per ESMA requirements: Pepperstone -79%, IG - 79%, Tickmill - 79.27%, Forex.com - 80%, XTB - 80%, FXCM - 79.79%, GKFX - 82%. It's high, [B]but it's definitely not 95%[/B]. Now you have the facts. [/QUOTE]
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