Question by Tim43: Does anyone really make decent money CONSISTENTLY in forex?
I tried it a few years back with Forex Mentor/Peter Bain and never made money even though I put in probably several hundred hours studying.
Each day Peter Bain would come on and say (after the fact), “See here if you would have followed my system, you would have made 25 pips, 50 pips, or whatever.” If things didn’t go well, he would say that you just have to be patient or it was a “fakeout.”
Everytime I have researched this I always come across some poor soul who started trading forex 5 years ago who has just started to break even, the numerous websites that promise making $ $ $ in just a few short weeks, or “forex rating” websites that are actually promotions for other companies.
So, does anyone make make money consistently in forex?
Thanks for your replies.
About 20 minutes ago, I had 2 answers to my question. Now those answers have been deleted. But, they were both links to “make money online” type websites. Hmmm…who deleted them?
Answer by – – – – – – – – – ¤ – 【ツ】- ¤ –
The brokers, lol.
But seriously, it depends on your time frame of “consistent”. Many traders make small losses, but over time, their gains outweight their losses. Infact, lots of traders have more losing trades than winners, but its just that they make sure that their losers are small, and that their winners go all the way instead of being sold early.
Many traders make money consistently annually, but lots of traders will have losing days or weeks, but these losses are always kept to a minimum by exiting early.
Trading is an art, not a science. If there was a formula/system that could just be followed like what he’s saying, it would not remain profitable for long.
Here’s why, im too lazy to cut and paste since it’s talking about programs. Just switch “program” with “system”:
“Good sarcasm is when no one knows if its sarcasm or not”
Do you really have to be so snide as to have that whole paragraph on why no one wants to answer your rhetorical question? (Incase you didn’t notice, both of your questions are rhetorical)
Know better? Leave your own answer in the comments!Tags: consistently, decent, Exchange, Foreign, Funds, individual, really