Hello everyone!
This site is phenomenal. A real wealth of information and a collection of great minds. I've learned a lot in my time lurking this site over the last few months. I'm on my way through Sive Morten's Forex Military Education currently... Very easy and informative read.
I'm certainly a greenhorn and have made my share of beginner mistakes (which I have learned from). I've always had an interest in investing and once I came across Forex, I knew it was something I'd love to get into. I saw a brand new "revolutionary" EA had been released and saw all it's very enticing claims and jumped aboard. Had good weeks and bad weeks and eventually came out on top after a few months, but my end conclusion is robots are simply not good income machines... News is such a major factor and an EA is just a coin flip in those times. Making money by doing nothing always sounds good... Too good maybe?
I've followed signals which have led me to profit, but I really want to be a independent trader... Free of all third parties. I want to be able to hop on my PC at the start of the trading day and know systematically when and where to put on trades and completely understand the system from top to bottom. So, on to my realization;
According to sources on this forum, only about 2-5% of Forex traders are making money and I know there are some serious high earners. Knowing this, I find it hard to believe there are so many failed 'revolutionary' systems and robots...
If I was personally one of the high earners, I would certainly have my strategy in plain text for everyone to see... I can't be alone in thinking this?
Considering the truly small percentage of actual earners trading the Foreign Exchange, there must be an even smaller number of truly profitable and reliable strategies... Don't get me started on the baffling amount of failed and unreliable systems.
My question is: What is the need for all these new strategies and systems that simply don't perform? I can understand people trying to market their products to make some cash, but I just feel like there should be a handful of well known truly reliable systems in plain view, that if you buckle down and learn from back to front and then put the hard work in the field, you will reliably make an income. Instead, we have thousands of people fishing through hundreds of strategies and robots trying to find their life changing routine. I find it primitive and confusing.
So... that was what I have been thinking in a nut shell. All opinions, corrections and direction pointing is most welcome.
Thank you for reading
This site is phenomenal. A real wealth of information and a collection of great minds. I've learned a lot in my time lurking this site over the last few months. I'm on my way through Sive Morten's Forex Military Education currently... Very easy and informative read.
I'm certainly a greenhorn and have made my share of beginner mistakes (which I have learned from). I've always had an interest in investing and once I came across Forex, I knew it was something I'd love to get into. I saw a brand new "revolutionary" EA had been released and saw all it's very enticing claims and jumped aboard. Had good weeks and bad weeks and eventually came out on top after a few months, but my end conclusion is robots are simply not good income machines... News is such a major factor and an EA is just a coin flip in those times. Making money by doing nothing always sounds good... Too good maybe?
I've followed signals which have led me to profit, but I really want to be a independent trader... Free of all third parties. I want to be able to hop on my PC at the start of the trading day and know systematically when and where to put on trades and completely understand the system from top to bottom. So, on to my realization;
According to sources on this forum, only about 2-5% of Forex traders are making money and I know there are some serious high earners. Knowing this, I find it hard to believe there are so many failed 'revolutionary' systems and robots...
If I was personally one of the high earners, I would certainly have my strategy in plain text for everyone to see... I can't be alone in thinking this?
Considering the truly small percentage of actual earners trading the Foreign Exchange, there must be an even smaller number of truly profitable and reliable strategies... Don't get me started on the baffling amount of failed and unreliable systems.
My question is: What is the need for all these new strategies and systems that simply don't perform? I can understand people trying to market their products to make some cash, but I just feel like there should be a handful of well known truly reliable systems in plain view, that if you buckle down and learn from back to front and then put the hard work in the field, you will reliably make an income. Instead, we have thousands of people fishing through hundreds of strategies and robots trying to find their life changing routine. I find it primitive and confusing.
So... that was what I have been thinking in a nut shell. All opinions, corrections and direction pointing is most welcome.
Thank you for reading