Do you know any successful big money retail traders , that have been at it for years ? There are many that claim they are, but they are either liars, system/method sellers,or are working for the brokers. The retail forex industry was created for the brokers, to tap into a fresh market. It took me a couple of years to figure it out, but this is how I see it. Most traders will lose all their money on their own anyway, so little or no intervention by the brokers is needed. But every now and then, there are traders that do get very good and are able make consistent profits. That is until they get red flagged by the broker. A broker runs a business, and just like any other business they want to make money , not lose money. You might stay off their radar screen trading small change, but try trading Big Money. You think they wont stand up and take notice if your constantly tearing chunks from their bottom line. They will promptly show you the DOOR. Anyone who thinks they can make a living trading retail forex is dreaming, and needs to get their head out of their ass!!
Depth Trade
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You don't have enough experience to even comment on trading.
A couple of years is nothing.
meanreversion
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What a moronic post. You think that your broker is the main obstacle to success? Wrong - it's YOU.
Why? The way I read it is that the author was successful but then was banned by broker. If that is a case then obviously the broker is obstacle not the author.
I knew I would get reaction to my post. Like I said, anybody who cant see whats at the end of the road, needs to get their head out of their ass! This is not about trading experience its about fighting a losing battle with your broker, or any broker for that matter. They are in business to make money not lose money. Anybody who cant see this , is still in the clouds about forex, or has a financial interest at stake in one way or another.
Depth Trade
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We need to define what Toms idea of 'Big money' is.
Tom what is your idea of Big money?
What is the cut off money point?
Tom what is your idea of Big money?
What is the cut off money point?
meanreversion
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Get an account with Interactive Brokers, they don't give a flying f--- how much money you make or lose, as long as you have cash to cover your margin.
meanreversion
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I dont need to tell you this. Your broker will let you know when he's had enough of you.We need to define what Toms idea of 'Big money' is.
Tom what is your idea of Big money?
What is the cut off money point?
montmorencyt2w
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Only 280 posts to go, MR. You could have saved a "life" by combining this post with the previous one. No need to reply to this one either! (I don't want to be responsible for your demise!)
A broker is a broker no matter how you paint them. They are all the same in the end, with the same objective. TO MAKE MONEY!
Yea, but they don't try and screw you over. Trading is actually very easy once you get your head around it. How do you like that comment?
Pazienza
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You are a moron.
Trade through a broker which makes its money from you trading, not from you losing.
Someone else with their head in cloud! First off, trading is NOT EASY, in fact its damn hard! But getting good is all in vain if anyway. Your BROKER will see to that!
Pazienza
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WTF? If you are with a broker that profits from you losing, move to one that doesn't. Are you f***ing slow or something?
There is no such broker.
Pazienza
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Err, yes, there is.
Depth Trade
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Not necessarily true. Brokers make money from the Spread, so whether you win or lose it doesn't matter to them, it is to there benefit if you are profitable and keep you around. The larger your positions, the more they make.
If you're going to make a statement about position size, you DO need to define what size is.
If you have only been trading a few years, numerically you are not even within the minority of traders that would have an edge just based off time trading (not including having an edge of skill).
As an example, my account number with Oanda is 2** out of 48,584 accounts. That puts me in the top 0.59% of traders out there. 99.41% of traders opened there accounts after me.
..so just by the numbers, in order for you to have the minimal of an edge, you would have to stay in the game over 10 years.
Which goes back to my original statement I always make about it taking 12 years to being extremely profitable.
It could be longer though, because Forex accounts being opened could have reached a plateau.
