Thursday, April 9, 2009

The Forex Market is full of misleading advertising

Why complain when someone tries to bring a little balance, or reality into public view.I have read several times that 80 to 85% of all new fx trading accounts lose money overall. Why is this when a trader's odds should be just under 50% using blind random trade selection.The reason is simple. The real cost of trading forex is not 2 to 5 pips as advertised everywhere (irresponsibly). It is on average closer to 65 pips as stated at forexfacts.atspace.com Wake up people, you either have a realistic understanding of your odds, or you lose. I win consistently through hard work and knowledge, logic, understanding trader sentiment, sound risk management etc... I NEVER set stop losses! I repeat I NEVER set stop losses.If you want to win, there are no shortcuts. Well that is my understanding and I hope it helps.Good luck and stop picking on people who try to break your false illusions.

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