Is Forex Profitable?

[act333]

Forex is definitely profitable with the right tools. You can see the result below. Automated trading, 38.4% returns in 52 days.

http://www.myfxbook.com/members/therobot

Come back 1 year later

 

[Optionstrader]

Forex is definitely profitable with the right tools. You can see the result below. Automated trading, 38.4% returns in 52 days.

http://www.myfxbook.com/members/therobot

it's quite slow manual trading is better but automated trading does have its place

Sent from Asus ASUS_Z00AD using GAGT

 

[Optionstrader]

Also myfxbook is also on my own trading site

Sent from Asus ASUS_Z00AD using GAGT

 

[lchunl001]

anyone has been profitable so far in forex? for myself, is it still not so however will be working hard on it..

 

[rayzzzz82]

How do you define profitable? Does having two and half years profit with 4 months loss with max drawdown of 15% and annual return from 50% to 150% deem profitable to u?

 

[blurinvestor]

I never laugh nor question nor challenge how people trade, not because I am still learning but I learn to respect others.

Many stated that this guy will blow his account in a week but 17th weeks running -

 

[blurinvestor]

As for me I am still learning to collect a couple of pips here and there.
Last trade for this week and sitting at the sideline because I have never experience Breexit before.

 

[blurinvestor]

trade closed. It is near S78.

go cook for the old folks and prepare the ducks for roasting tomorrow.

 

[Azalea]

Come back 1 year later

I no need to come back one year, i have withdrawn 50% of my capital after making some profits, and will withdraw the rest of the 50% after few weeks upon hitting another target, after which i will trade with free money, so what risk are we talking about?

Sent from forextradingbraindotcom using GAGT

 

[siaodong02]

I want to ask from people who are currently using it and not from backtesting. Past performance never guarantees future performance.

Let me reiterate what you mentioned.

1) You don't trust backtesting thats done over 5-10 years of historical data. Because past performance never guarantees future performance.
Ok, fair enough.

2) But you are asking people for their statistics, which I assume you believe them to be more accurate than backtesting using professional data.


You see the irony there?
You see why people say 90% of forex traders lose money due to irrational decision making?



When people say "Past data doesn't guarantee future performance", they're actually telling you that if your strategy does not even survive backtest, then don't use it for live trading. It's a form of filtering technique.

Do not use this saying as an excuse to be lazy

No offence above, guys, cheers

Edited by Mod: Unsolicited Content (Commercial solicitation / Ads / Referrals / Spam)

 

[zacattack]

Let me reiterate what you mentioned.

1) You don't trust backtesting thats done over 5-10 years of historical data. Because past performance never guarantees future performance.
Ok, fair enough.

2) But you are asking people for their statistics, which I assume you believe them to be more accurate than backtesting using professional data.


You see the irony there?
You see why people say 90% of forex traders lose money due to irrational decision making?



When people say "Past data doesn't guarantee future performance", they're actually telling you that if your strategy does not even survive backtest, then don't use it for live trading. It's a form of filtering technique.

Do not use this saying as an excuse to be lazy

You can find out more about importance of backtesting here.

No offence above, guys, cheers

Bro there is no irony. Anyone that has learnt econometrics will tell you that there's also such a thing as walk forward testing.

So please, statistics based on real trades made instead of applying rules and system to historical data. I believe that should be possible no? Common sense leh.

Not being lazy because I don't have the system and rules that the poster would be using. So just want to see.

No offence to you to. Hope you've learnt.

Sent from Huawei NEXUS 6P using GAGT

 

[siaodong02]

So please, statistics based on real trades made instead of applying rules and system to historical data. I believe that should be possible no? Common sense leh.

I assume you have never seen backtest software that allows you to replay market and simulate the actual execution of every trade onto historical price data chart? If you test it properly, there is no difference between backtest or live trading. So tell me, in this way whats the diff between real trades statistics or test results?

My question to you:
If your strategy cannot even survive the backtest simulation account testing for 5 years of data, would you still trade it live? Common sense, no?

I understand its hard for people like you to believe in something that you haven't seen before. I hope I taught you something today.

 

[alexchia01]

History always repeat itself.

It always has been and it always will be.

You may think that whatever happens now is unique, but it really is not.

Boom and Crash and Boom and Crash and Boom and Crash.

It has been like this since the beginning.

The reason why you can't see it is because many of us don't stay long enough to see more than 1 cycle.

If you just observe history, you'll know.

 

[littlepinkparish]

if your skills are good..then you can be profitable

 

[Optionstrader]

if your skills are good..then you can be profitable

Yes agree

Sent from Asus ASUS_Z00AD using GAGT

 

[zacattack]

I assume you have never seen backtest software that allows you to replay market and simulate the actual execution of every trade onto historical price data chart? If you test it properly, there is no difference between backtest or live trading. So tell me, in this way whats the diff between real trades statistics or test results?

My question to you:
If your strategy cannot even survive the backtest simulation account testing for 5 years of data, would you still trade it live? Common sense, no?

I understand its hard for people like you to believe in something that you haven't seen before. I hope I taught you something today.

Please. Backtest is different because you already know the moves. The emotion and trader psychology is already far removed from the equation.

Walk forward testing is different as there is still news that may affect price data. And back test whatever price you enter at, there would be no slippage. Walk forward testing, there is a chance of missing the trade due to slippage. So you tell me got difference anot la.

I've learnt from you. Hope you learnt from me too. Cheers.

Sent from Huawei NEXUS 6P using GAGT

 

[blurinvestor]

have a map, trade your map.

if no plan no road map, then park one side don't anyhow drive, don't be trigger happy.

 

[blurinvestor]

chart your map.
stare at the screen for six months, jot down your expectation - cheap price to buy or sell, which pair is for buy only, which pair is for sell only, etc. Something like USDSGD is only for buy only at 1.337XX - 1.336XX.

i don't back test. I used camstudio to capture price movement/action and reveal them for months. And i saw the light.

Always look at the left side of chart to look for possible areas for price to react or use weekly pivot.

no this is not the best method in the world; some make more money by knowing which broker to go to. well broker are there to make you broke.

if you are worry about swap, roll over, commission, etc. that will eat your account, then the safer method is don't open an account.

 

[zheng]

share share tips how u trade

Sent from 尼玛的 真好吃！ using GAGT

 

[blurinvestor]

it is high time frame price action trading - combing weekly pivot, supply and demand zones, candle formation, and trend lines and patience.

understanding of - news, account balance, psychology, etc.

something like this
Supply and Demand