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What is the real truth about trading?

Discussion in 'General Forex Talk' started by TonyFender, May 13, 2019.

  1. TonyFender

    TonyFender Recruit

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    Hi all, there is something I really need to understand,

    First of all, thanks for looking at my post and sorry for the vague title

    I get it, people selling courses are usually not so honest and most of them wont make us money.

    But, I keep doing the same thing over and over and it's been for months now.

    I look at babypips's school of trading and other sites about trading, most of the stuff is about technical analysis.

    Then, what I would call insecurities, come in play.

    I look on the internet for things like ''Does technical analysis really works'' then I stumble on many, many threads about how ''everything they teach about TA is a lie, TA doesn't work, it's not the way the big institutions are making money, etc''


    I really don't mind spending a lot of time on learning Forex, the only problem is going back to the tought of ''Am I only wasting my time reading useless stuff that doesn't work?'' Because let's be honest, once you look further on the net for Forex answers about technical analysis, it's really a mess of opinions.

    You have 50% of the traders / websites who say ''Yes Technical analysis (indicators, Support/ Resistance, Chart patterns) work, then you look a bit further and you have the other half who say that all of this is litteraly a big ol' lie.

    So what's up with that? Is there 50% of the internet that is ''lying'' ? I have never seen anything like that on any subject apart from Forex.


    Why would the whole babypips school be a lie? Why would they loose so much time writing false theories? Or why would all these traders lie on the internet by saying that the technical analysis stuff doesn't work?

    Any of those two possibilites don't make sense to me.


    It is so weird, I am surely not the only one who wants to learn but who is constantly afraid of learning stuff because ''it might not work''.

    I have never been so motivated in my whole life for something and I want to succeed, I am not one of those who think that I will get rich in an instant but this whole ''50% says that, 50% says the opposite'' thing is demotivating.

    It looks like the only thing I can do is to test by myself to see what's right, and that's what I'm doing but, it doesn't make sense to test TA for a long period of time if there is A LOT of people saying that it's completely useless.

    I would appreciate answers especially from people who manage to make money from Forex for a long period of time.

    Here are 2 pages that are the perfect example of ''everything about TA is a lie'':

    forexfactory.com/showthread.php?p=7388850

    linkedin.com/pulse/retail-forex-trading-why-you-have-been-sold-lie-how-paul-scott
     
  2. OksanaChyzh

    OksanaChyzh Recruit

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    Okay, so first of all it's not nesessary that exactly any of 50% is liying. There are tons of defferent strategies of TA, tons of traders, tons of ideas.
    It doesn't nessesary have to be lie that some traders cant get profit using some strategies, and, of course, It doesn't nessesary have to be lie that some traders make profit with the same or different strategies. There are too many factors in trading that influence the result. Some traders could just be choppy with their trades, some could be just the once who didn't exectly understood the rules of TA strategy.

    I would not be so black and white in view on this subject. Just take your time, try it by yourself on demo, feel if it's your tipe of trading or not and decide by yourself if it works or not
     
  3. KristenLove

    KristenLove Recruit

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    Agree with Oksana Chyzh. Your statements here looks very radical. Some strategies work, some not. Work not forever. TA could be useful as Fundamental Analysis.
     
  4. nahiyar

    nahiyar Private, 1st Class

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    Yes there are many white and black vies about forex. Some people think it a money machine but the real truth is something different. Forex not gives you money until you are not able to collect it with your passion experience and skill. Many factors are involved in profit and loss . When we overcome ur mistakes and adopt they way which market wants from us then we can become a successful trader.
     
  5. Enayess

    Enayess Private, 1st Class

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    It's cause it's very unpredictable thing with very unknown outcome and so on really. I still do not get lot of information I use here. You really should forget about all this advices and gain your own experience and maybe then decide that forex is not for you.
     
  6. AndrewBlack

    AndrewBlack Recruit

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    Agree with this!
    It is totally not black and white. But it doesn't metter. Just keep learning. Make up your own strategy and trade well!
     
  7. Thoris

    Thoris Private, 1st Class

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    It's really unpredictable to the level where you simply can't achieve anything consistent with it, so for sure you need to know how actually to trade but please do not make any big deals out of it cause it will not help at all in the long run. Be sure about that.
     
  8. Boyd35

    Boyd35 Private

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    I would also agree that truth is somewhere in between black and white zone. It is irrelevant, as the most important thing in forex are learning and gaining experience. Nobody can teach you to be excellent trader. It is only you yourself who can do it
     

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