Forex.. The Short and Not So Sweet Reality

Tomj (What does the 'J' stand for - jerk off?), you haven't bothered to learn how to trade. That's fine, I understand. You're probably too stupid and lazy, which is OK. Just don't blame the broker - it's not his fault you're a mong.

Are you this guy? You used to believe that it was the fault of the market, but now you've found a new culprit to shift blame to?

http://www.youtube.com/watch?v=vIMwMsY0ndo
 
Depth Trade said:
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.

:)
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It doesn't matter when you opened your account, If you,re hurting their bottom line they WILL show the DOOR. I agree the more trades you place the better for the broker, but you cant tell me that is the only way they make money. Its a business. Money coming in has to be greater than the money going out. If you are constantly taking more money from them, than what they are getting from you, that would not make much sense now would it. That is why there is only so far you can go in this industrie, without intervention from the brokers. As far as defining what position sizes would get your account closed. ANY POSITIONS THAT WILL MAKE THEM STAND UP AND NOTICE.
 
tomj2345 said:
It doesn't matter when you opened your account, If you,re hurting their bottom line they WILL show the DOOR. I agree the more trades you place the better for the broker, but you cant tell me that is the only way they make money. Its a business. Money coming in has to be greater than the money going out. If you are constantly taking more money from them, than what they are getting from you, that would not make much sense now would it. That is why there is only so far you can go in this industrie, without intervention from the brokers. As far as defining what position sizes would get your account closed. ANY POSITIONS THAT WILL MAKE THEM STAND UP AND NOTICE.
Click to expand...

What are you f---ing talking about? Are you on drugs????

Have you heard of DMA? Don't be confused, it's not the same as MDMA, which is something I suspect you've taken too much of.
 
tomj2345 said:
It doesn't matter when you opened your account, If you,re hurting their bottom line they WILL show the DOOR. I agree the more trades you place the better for the broker, but you cant tell me that is the only way they make money. Its a business. Money coming in has to be greater than the money going out. If you are constantly taking more money from them, than what they are getting from you, that would not make much sense now would it. That is why there is only so far you can go in this industrie, without intervention from the brokers. As far as defining what position sizes would get your account closed. ANY POSITIONS THAT WILL MAKE THEM STAND UP AND NOTICE.
Click to expand...

You are a complete moron.
 
meanreversion said:
What are you f---ing talking about? Are you on drugs????

Have you heard of DMA? Don't be confused, it's not the same as MDMA, which is something I suspect you've taken too much of.
Click to expand...

No, not on drugs. Just very much into the reality of forex. No one will ever make it as a retail trader. Read this sentence over and over and over. It's all smoke and mirrors.
Until you realize this, you will just be going around in circles, like a dog chasing his tail.
 
tomj2345 said:
No, not on drugs. Just very much into the reality of forex. No one will ever make it as a retail trader. Read this sentence over and over and over. It's all smoke and mirrors.
Until you realize this, you will just be going around in circles, like a dog chasing his tail.
Click to expand...

I second Mean's call. You are a reasonably good wind-up merchant.
 
tomj2345 said:
No, not on drugs. Just very much into the reality of forex. No one will ever make it as a retail trader. Read this sentence over and over and over. It's all smoke and mirrors.
Until you realize this, you will just be going around in circles, like a dog chasing his tail.
Click to expand...

My dog gets his tail everytime.

Prick.
 
If you got ****ed by your broker, name them. Helps everyone else avoid them and would be easier than arguing with the entire forum.
 
Si55AMG said:
A Failed trader always blames the broker not himself.
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I'm not sure he's saying he's failed. My understanding of his initial post was that he's suggesting he got too big and frightened his brokers so they refused his business.

I admit to struggling a little with why they would have a problem with size when the FX market has effectively unlimited liquidity and pretty much any broker will have sufficient facility to flatten their retail aggregate on a second-by-second basis, typically without even needing to go ‘outside’ and access to virtually instantaneous institutional size transaction processing on demand when they get the occasional skew.

Actually, thinking about it, you’re probably right.

He had a 10p a pip on cable and they spiked it to a 8 pip spread on news and wiped out his £250 account. Figures.
 
tomj2345 said:
No, not on drugs. Just very much into the reality of forex. No one will ever make it as a retail trader. Read this sentence over and over and over. It's all smoke and mirrors.
Until you realize this, you will just be going around in circles, like a dog chasing his tail.
Click to expand...

I am directly connected to my broker's server and all of my trades are instantly done when I click my mouse. I used to be with a broker that gave me a manual quote and they did screw me over. I left that company for one that has really good spreads and is connected to their server so that I could avoid waiting for quotes.
 
Tom,

What are you basing this belief on? Personal experience? Do you know people that work for brokers? What facts/statistics do you have that would help prove your point? Anyone can make a claim like that but without any proof its pretty worthless. Why would a broker want to "Show you the door" if you are paying their spreads? That's how they make their money is it not?

Oh and if this thread is a wind up please ignore the above!!!
 
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