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Thread: Do We Need to Tell the People Blatant Truth About Trading?

      
  1. #1
    Show Me The Money! wizard77's Avatar
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    Default Do We Need to Tell the People Blatant Truth About Trading?

    When I first started trading, I was attracted to it by solicited and unsolicited promises from vendors that I could become rich through their strategies and speculation solutions. But what I experienced was totally different than what those vendors promised me. Success is possible in trading, but how to attain it isnít what those vendors are saying. At the same time, weíre also afraid that if we tell people that trading isnít easy and that it requires hard work and continuous persistence to succeed. That may scare them away. What do you think: tell people the truth about trading and possibly scare them away, or tell them what can attract them?
    Thanks Mike thanked for this post

  2. #2
    Administrator Mike's Avatar
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    Default Re: Do We Need to Tell the People Blatant Truth About Trading?

    I started out much like you wizard, but I was fortunate to quickly find a company that was technically selling something for profit but at the same time it was their own mission through daily webinars to do what you state, inform us that trading currencies is no joke and it is much more complicated than a casino game, albeit the similarities are obvious to the casual observer. I was lucky to learn before blowing my account that trading is a delicate balance between risk and technical/fundamental analysis (analysis in general), the combinations of which are limitless for each and every trader to decide how to apply it to their plan of attack.

    I'd hope that our efforts here on this forum are just that, to not sugarcoat trading currencies but to explain it as best we can in detail before anyone loses money recklessly and without a clear trading plan. But, it's not my or anyone's business telling people what to do with their own capital, and in some ways being burnt is perhaps a valuable lesson in learning to be cautious with your capital. I made a really horrible trade over 7 years ago that I still think about til this day and affects me before I enter trades; in fact it's helped me shape my trading philosophy tremendously, one big loss, and I was never the same, in a good way. Sure it hurt and I felt like literally crying because that was my money thrown away on a trade I watched dip into oblivion over a 2 week period: absolutely unacceptable, especially with respect to my new (and long lasting) successful trading strategy.

    So I totally am in agreement that beginners to forex need to learn that trading currencies on the spot market is no joke, and it's much more complicated than even the stock market where an investor can do lots of studying, and even (illegally but successfully nonetheless) gain inside information about a company before buying or selling; with forex it's a whole other ball game, similar technical analysis but a whole different set of fundamentals one needs to look at before entering a trade.

    With the forums here giving up to date news and all of our members contributing honest and fair reviews about the peripheral programs in the industry, I feel a beginner can gain a good footing before risking and losing his account.

  3. #3
    Pippier Than Thou! skynet's Avatar
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    Default Re: Do We Need to Tell the People Blatant Truth About Trading?

    Yea I feel I got hoodwinked... I would like a bit more honesty in the industry... mike who was that place that helped you with trading?
    The Past Is Prologue...Except when you're trading Forex.

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    Pips Are My Game EU_TRADER's Avatar
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    Default Re: Do We Need to Tell the People Blatant Truth About Trading?

    Let 'em learn the hard way

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    Pips Are My Game pipMasterG's Avatar
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    Default Re: Do We Need to Tell the People Blatant Truth About Trading?

    Quote Originally Posted by EU_TRADER View Post
    Let 'em learn the hard way
    Why are u such a dick? you should want to help people...

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