Thread: The TRUTH About Forex Trading

Hey guys,

Here’s a question: Are you not succeeding as a trader?

Sorry to be so blunt, but chances are that you are failing, and there’s a multitude of reasons why that may be the case.

But the one reason that ties the majority of failing traders together is this: They don’t believe the truth.

Most people would rather blindly accept the lies from fake Forex Gurus and magical robot sellers than listen to the truth offered by real Forex traders. Although it’s nice to accept “Forex is easy – no experience needed – just buy my robot!” from those guys, while ignoring “Forex requires hard work and dedication” from the true Forex traders, that attitude will unfortunately get you nowhere.

There are many people who have been trying to find the easy solution to Forex (*cough*robots*cough*), being in search for several months to years with no avail – a lot of those people may be on this very forum. In fact, if most traders just used the time wasted (yes, wasted. Since you’ve gained absolutely nothing) testing junk robots/systems to instead actually learn how to trade, they may already be making money.

Although it can be very difficult to find some truth in this Forex industry that’s littered with lies, the fact is that most people aren’t even bothering to find out what’s right and what’s wrong.

This website will help you understand the truths about Forex trading and what’s required to become a full time trader.

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www.FXMythBuster.com

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So if you are the type of trader who gets excited over fancy graphics and every new hyped up trading system/robot that pops up, then this is not the site for you – I really can’t help you yet.

This is because even after reading this, I know that some people will go “Hahaha! F$@# you. Just because you haven’t found a robot, it doesn’t mean that I won’t! I’ll be looking real hard and I’ll find it soon!!! Then I’ll be laughing at you while I make millions in my sleep!”

In the end, I know that those people will eventually give up on Forex trading or align their thoughts with mine.

But if you are the type of trader who is beginning to seriously question all of the absolute BS that those “Gurus” spew up on a daily basis, then this website will help your Forex career tremendously. You will learn to ignore every new hyped up Forex product that comes out, while learning the skills necessary to become a full time trader. This is free information that you must know.

If you’ve been to BabyPips, then you know how they can help the new trader get their feet wet. You can think of this to be “AdultPips,” where I will just immerse you into the water.

This site is still at its early stages, and I’ve already got over a dozen articles up. There’s a ton of stuff that I still intend to write - I actually have pages and pages worth of notes in Microsoft Word.

Also, if you find this site (or my Twitter feed) useful, then please spread the word. I think that every new trader should have a chance to see the real side of things for a change. And whether they choose to believe it or not is completely up to them.

Note that I’m not a website designer. I just picked up HTML a few months ago, so my website will look a bit shabby compared to all of those get rich quick sites. I don’t know who to make graphics of DVD’s nor do I know how to make fancy videos – I don’t really care either. But hey, who made the law that a professional Forex trader needs to know how to build a professional website?

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IMPORTANT NOTE: As of April 12th, my mentorship program is free.

I was originally charging for this because I figured that would be the best way to filter out the serious traders.

But I think that people too quickly associates anything that costs money as a scam, which also defeats the whole purpose of my website.

I didn't make this website to scare off a bunch of people. Rather, I made the site to spread the truth out to as many traders as possible.

So if you are interested in joining my free mentorship program, then please check it out here.

www.FXMythBuster.com

Hi all,

I completely agree with you. I also want to add something on the same topic...

Is forex a buisness or a gambling game?

Most of the people who tried to make money through forex and they did not succeded they have quitted and they thought it is a gambling game. I was in the same situation like those people but I never thought one moment to quit. I always tried to analyse my mistakes to see where I was wrong. This can be applied also in our lives . You always have to analyse your mistakes. Only in this way you can learn something and you will not repeat the same mistake again. If you will analyse all your “bad” trades you will find out that forex is not a gambling game. There are some strict rules that have to be followed in forex for being able to be called “business”. If we are out of these rules then of course forex is like a casino.
Now let me show you some rules which if we are breaking them we are playing a gambling game:

If you are greedy in forex then you are playing a gambling game
If you do not respect the money management rules then you are playing a gambling game
If you are taking positions that have currencies correlated (e.g EURUSD,USDCHF)
i n the same time then you are playing a gambling game
If you have the feeling that a pair is going up or down without a strong analysis behind you are playing a gambling game
If you are taking positions only because you heard from your broker that a news release will be published tomorrow regarding an appreciation of a currency then you are playing a gambling game.
If you do not set stop loss and take profit targets then you are playing a gambling game
If you are pushing your mind to find a trade setup just because you did not take any position since days ago or your last trades hit the SL and now you want to recover your loss then you are playing a gambling game.
If you don’t follow your own system and you are trying to follow as many as possible just because you’ve heard that some people are more profitable then you then also you are playing a gambling game
If you have fear when you are trading just because you don’t have selfconfidence then you are playing a gambling game. Let me tell you an exemple here just to understand it better. Let’s suppose that you find a good trade and you are taking the position in time.
Then the postion is going against you for some candles but suddenly you close it because you are starting to think that you were wrong. This is the FEAR. Let the trade to hit your target. Only in this way you will learn and you will gain experience.
if you are overconfident then also you are playing a gambling game. I’ll give you here an exemple. After you’ve learned how to analyse the market and you had some good profit then you have to deal with overconfidence. You will take positions more then your account can support because you know that the analysis made is the right one which is completely true but you missed one thing. The market conditions can be changed anytime and then all your positions can go against you and your account will be wipped out. I always calculated how much I will loose if all my positions will hit the SL and I strongly recommend to others to do so. Sometimes I see more trade setups but I never take all of them.
I hope now it is clear what is the TRUTH about forex.

www.gforexsignals.com

Definitely knowing to trade Forex is better than using robot...

Agreed.

Automated systems not so reliable... Tried most of them....