Why do we trade?
This is a question we must decide right from the word go. Do we start trading to make quick money, a desired lifestyle, investment or just something to do like a hobby?
Like a lot of us I wanted the money but quickly learnt there was more to trading than just placing a trade. Once a new trader understands this their dreams are crushed and is where the saying 90% of Forex traders fail comes in.
Some of these traders become gamblers constantly funding accounts in hope to win the big one. There are those that have made it rich by doing this is a very short time. My advice to those if you have made it quit while you are ahead because it was only pure luck to where you got. From zero to hero and back again. I can say being a millionaire for a month is worse than never being a millionaire at all.
Unfortunately, a lot just won’t get it but hey for one to make a profit in this business we need those, right?
Is it a zero-sum game??? There is a lot more to this answer than just plain black and white.
What is the reason why we would trade?
I put it down to making a profit, you are in it to make a profit. Whether you love trading or not it’s only for profit.
I will only be posting n this thread from now on since my style of trading is by far different than one would call “text book theories.”
However, thinking outside the box opens the gateway to Criticism.
The only way to trade is the way that makes a profit. No text book or right way claimed by has been guru’s will either make it for you or not.
I am an applied finance drop out purely because I didn’t want to be confined to the cookie cutter press. I was planning on becoming a certified technical analyst but have discovered you cannot think or are permitted to think outside the box. I have always wondered why every analyst whether that be fundamental or technical, I listen to on Blomberg has a different opinion on the market direction. Why is it that only a small percentage of analyst get it right?
I wanted to know how do banks and institutions trade Forex? What is market manipulation? What are market makers? Why is the system of exchange set up?
On this thread, I will be posting all things Forex in my own perspective.
- Money management
- Phycology
- Market talk
- Brokers
- Live trades
I mainly trade AUD NZD occasionally EUR GBP Gold and Yen
I like to keep things simple. I trade Fundamentals as 1st and technical secondary.
Anyone posting in this thread please be respectful of others opinions. There is no “Right way” to trade and the only way is the way that makes a profit.
If anyone here has a unique way of trading please post it in here anything goes, but remember must be profitable. Trade explores welcome demo or live there is no difference to me, the market will move the same way on either.
Trade set ups welcome on any pairs and any style.
Trading has become a great passion of mine and a part of my life and this is the way I trade
That’s it for now will post whenever I have time.