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51263018 No.51263018 [Reply] [Original]

Why is FOREX trading very difficult?

>> No.51263077

It’s not, the average person just doesn’t have the dedication, motivation, willpower, etc to learn.

>> No.51263133

>>51263018
Jews

>> No.51263167

Currencies are hard to value and projections change week by week on the institutional level based on news, in addition all of these institutions are not in agreement 100% of the time.
These projections are extremely nuanced with many economic data inputs cross referenced with all other data points from all different countries around the world including but not limited to interest rate differentials, imports/exports, equity indexes, cross-asset action such as commodities and their projections, etc. It's very fucking complicated. Especially for someone that isn't actively working in/keeping up with finance.

So all that is left for retail traders is technical setups and that's just a long term r:r low risk% game, sharpe ratio etc... Most people cannot sit by and bet as small as you need to to consistently grow an account. Most people turn it up too fast or have bad mentalities and blow up accounts within months if not days if not hours

>> No.51263399

>>51263018
If a strategy doesn’t work for you, then try do a different strategy and backtest that before using real money.

>> No.51263478

forex is the purest market you can trade in. 24X5 time to trade, no gap ups & down..you are on the same level as the institutions.
Forex forces you to refine your techniques/ methods until you become good.
if you are profitable in forex, you can be profitable in any other market.

>> No.51264065

>>51263478
Agreed with the exception of penny stocks and crypto

>> No.51264082

>>51263399
True unless you might just be shit at applying the things you’re taught

>> No.51264100

>>51263478
>24X5 time to trade
gross.. what a scam

>> No.51264125

massive fraud

imagine trading an asset that a government intern can create and destroy at whim

>> No.51264128

>>51263018
Forex is basically just gambling because fundamentals don't matter

>> No.51264134

>>51263399
retarded. never backtest because that ios going backwards. you want to be going FORWARDS testing and learning in your real account. bet what you cant afford to lose and it will make you trade better. with funny money you wont give a shit.

>> No.51264172
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51264172

>>51263478
long time frames 1% of retail can trade it profitable. but short time frames if you can trade profitable would become instantly righest man on planet cause currencies are so liquid there is no really limit for trade size

>> No.51264222

Because for it to have reasonable/good returns, you need to leverage on short timeframes (trade hour/minute candles) and that’s basically gambling.

>> No.51264338

>>51263478
> you are on the same level as the institutions
there is no way in hell that you seriously have the same level of information access, and speed to acquire that information to a trader at Goldman or jpmorgan

>> No.51264390

Currency arbitrage vs the banks

>> No.51264428

>>51264222
It’s gambling if you don’t have a reasonable, logical stop loss.

>>51264134
Agreed.

>> No.51265334

>>51264134
Retard level take anon, it's obvious you don't know what back testing is ...it has nothing to do with "going backwards" as you put it. Back testing is literally taking a strategy, then picking a date in time, usually one that corresponds to current market conditions or w/e scenario you want to test. And then basically pretend like you are trading with your strat to see if it would have made money. Doing this you will find holes in your strategies that you can patch up before actually committing money to it. Much better to do it this way than say, take a large amount and test with it, then lose it all because you forgot about some timing issue, or testing with a small amount and having the strat work brilliantly, making a small amount while watching the opportunity fade away.

>> No.51265348

>>51265334
Oops need to clarify
>Choose a date in time in the past.