WHY 98% OF FOREX TRADERS LOSE MONEY TRADING FOREX:

98% OF FOREX TRADERS LOSE MONEY TRADING FOREX:

The latest survey has it that 98% of traders lose money
and that is the reason we have proliferation of forex brokers
who are willing and ready to dupe innocent traders.

Why are they teaching rubbish "technical analysis" that can
not make you a professional trader?
Let them teach you how to trade the US NON FARM PAYROLLS.

Your loss is their gain, that is the reason they must mislead you.

We can no longer count the number of forex brokers because
it is now a lucrative business, since most traders do not want
to learn new things, they remain PRISONERS OF HOPE, foolishly
believing that the forex brokers are their friends. Fools are fools
because they refuse to be wise. Have a good day.

COMPREHENSIVE NEWS TRADING, THE ONLY AWAY FORWARD:

THE MOST IMPORTANT ADVANTAGE:

This strategy gives you the privilege
to manage your trades in such a manner
that each time you have a losing trade,
it is only 10 pips you are staking.

The advantage is that, just only "one
good trade" can cover at least five
"bad trades" you may have in future.

And it is not possible to have such "bad
trades" without another set of "winning
trades". You can see the need to avoid
any complacency and stick to the laid
down strategy for optimum performance.

No need to hope for any currency pair
to reach " support or resistance level"
before trading, because you are dealing with
the "real deal", the "leading indicators" that
move the markets, whether you and I, like
it or not.
FOOD FOR THOUGHT:
You must remain consistent in order to be
relevant. In forex trading, do not accept this:
If the desirable is not available, the available
becomes desirable. If you do, you will fail.
Believe:The desirable must be available.
The 2% successful forex traders are human
and you are not less human than anyone else.

COMPREHENSIVE NEWS TRADING, THE ONLY AWAY FORWARD:

THE MOST IMPORTANT ADVANTAGE:

This strategy gives you the privilege
to manage your trades in such a manner
that each time you have a losing trade,
it is only 10 pips you are staking.

The advantage is that, just only "one
good trade" can cover at least five
"bad trades" you may have in future.

And it is not possible to have such "bad
trades" without another set of "winning
trades". You can see the need to avoid
any complacency and stick to the laid
down strategy for optimum performance.

No need to hope for any currency pair
to reach " support or resistance level"
before trading, because you are dealing with
the "real deal", the "leading indicators" that
move the markets, whether you and I, like
it or not.
FOOD FOR THOUGHT:
You must remain consistent in order to be
relevant. In forex trading, do not accept this:
If the desirable is not available, the available
becomes desirable. If you do, you will fail.
Believe:The desirable must be available.
The 2% successful forex traders are human
and you are not less human than anyone else.

LATEST SURVEY: 98% OF FOREX TRADERS NOW LOSE MONEY TRADING FOREX

98% OF FOREX TRADERS LOSE MONEY TRADING FOREX:

The latest survey has it that 98% of traders lose money
and that is the reason we have proliferation of forex brokers
who are willing and ready to dupe innocent traders.

Why are they teaching rubbish "technical analysis" that can
not make you a professional trader?
Let them teach you how to trade the US NON FARM PAYROLLS.

Your loss is their gain, that is the reason they must mislead you.

We can no longer count the number of forex brokers because
it is now a lucrative business, since most traders do not want
to learn new things, they remain PRISONERS OF HOPE, foolishly
believing that the forex brokers are their friends. Fools are fools
because they refuse to be wise. Have a good day.

TO SUCCEED AS A FOREX TRADER: YOU MUST BE:

1. Persistent: Persistent attempts are the very secrets
of success.
2. Consistent: Consistent efforts are always rewarded
with consistent inspiration.
3. Determined: Determined people get desired results and
4. Defy the odds: Because, successful people defy the odds
to achieve greatness.

Believe you will be there, you shall be there, among the 2%
" Wise men and women" who are successful in forex trading.

If we are not there yet, it is either we are not wise or we
are a little bit naive, if not foolish.

So, keep on working hard, Winners do not quit, and Quitters
do not win.

WHATEVER STRATEGY YOU ARE USING, DO NOT TRADE ANY DOUBT:

"Doubt Trading" is one of the major reasons why we fail woefully in
forex trading. Whatever strategy you are using, make sure you do
not trade any doubt, meaning, if you have any doubt at any point in
time that the strategy you are using may not work under any circumstance,
disregard it or skip the trade.

Most forex traders keep on repeating the same mistakes, over and over
again, because they are desperate to trade and make money, thereby
losing the little they have. If you work hard, you can be one of the "2%
wise and successful" forex traders. The objective is making money, not
how and when, provided it is consistent and more than the draw down.

We are almost there.

A HIGH LEVEL OF DECEIT WITHOUT RESISTANCE OR SUPPORT OR HANDLE:

I just came across some analyses of some currency pairs, notably:
EURUSD, USDJPY and USDCHF.

Hear this: the EURUSD has reached this level, USDCHF has breached
certain correctness. On the upside, resistance resides @ 0.9700
where a break will aim at 0.9750 level. EURUSD approaching 1,3800
handle, etc etc. Calculated rubbish. Instead of hoping for further QE
by the BOJ to make money, you are here wasting your time for nothing.

How many handles does a currency pair have? These are designed
to confuse forex traders. No wonder, only 5% of forex traders are
successful.

Show me the support or resistance levels, US Non - Farm Payrolls
will not destroy. It was a few minutes ago I read a report on the
forexpeacearmy website, that only 2% of forex traders are now
successful. I quite agree with this latest survey and henceforth,
I shall use this "2% wise men" for my planning and focus.

If EURUSD, GBPUSD, USDJPY or any currency pair for that matter
attains a certain level, so what? It is just RUBBISH and nothing more.

No wonder only 2% of those trading the forex market are wise, while
the rest 98% are either not wise or FOOLISH.

Wisdom is not close to foolishness. They are far apart. From today,
you know where you belong, whether your success in forex trading
has some resistance or support or handle.

I wish you good luck.

RESTRICTING YOURSELF TO ONE AREA OF TRADING IS DETRIMENTAL:

If you wish to become a professional forex trader, there is one thing
you must not do, that is, do not restrict yourself to one form of
trading the forex market.

Sentiment trading alone cannot make you a professional trader.
With a lot of Central Bank statements and speeches from the
the Governors to their deputies, voting members to non- voting
members, one statement can easily contradict another thereby
creating a divergence. This can turn the market around 180
degrees, making a potentially winning trade to be a losing one.

That is even better than some news traders, who rely solely
on deviation , ie, the difference between expectation and the
actual figure, to trade. Over reliance on deviation has its own
dire consequences. Take for example:

Some people trade the US Non-farm Payrolls with a deviation
of 70k, less or more jobs. you and I know that 70k will actually
surprise the market at times but not all the time. I was made
to believe during my membership of a Live Trade Room, it was
always an opportunity to make some money with such a huge
surprise. I have since realized that making money in forex is
not just about the deviation we have, or the level of surprise.
The forex market is so dynamic, that a whole lot of factors
are needed to make it work.

How can one explain a situation whereby a huge deviation of
100k will fail to make impact, while just 20k on another day
will have a huge impact.

During these past five years of my research, I discovered
that we fail to successfully trade forex due to our insufficient
knowledge of the dynamics in the currency market.

If we are able to reason well enough, there is the tendency
that the percentage of successful traders can rise to 10% from
the current 5%.

A lot of us have not come to the realization that we are
losers, because we are still "Prisoners of Hope", believing
that one day, we shall be successful forex traders. Is it
by doing the "Wrong Things" at the right time?

No matter how much money is spent in advertising a
bad product, it will not make it good. All these self-
acclaimed professionals are still part of us, the 5%
losers, but they choose to be selling "bad stuff" to
deceive people because, they cannot trade for profit.

Continue to learn and learn, we shall get there.

A word is enough for the wise. It is a shame that
only 5% forex traders are wise. The rest are what?

Wisdom does not go hungry. Wisdom does not go
broke. Wisdom does not lose money in whatever
venture, including forex trading. Wisdom is wisdom,
not something else.

Have a good day.

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MY VISION IN FOREX RESEARCH AND TRADING

MY VISION:

I want to achieve Success:Failure ratio of 9:1. I do not know what level I have reached so far
but I need members of the public to assess it for the benefit of all. I am a high volume trader
and I do not believe if you are a professional forex trader, you should trading one or two
standard lots. For me, that is meaningless. I cannot "waste" a whole five years of my life,
(well, not a confirmed "waste" yet, unless I am able to achieve my aim, it will be a WASTE)
researching on how to successfully trade the forex market to be doing a few standard lots.

I have a focus: that is Trading, and Trading, and Trading. I do not have any intention of
running educational or mentor-ship programs. My concentration is purely how to trade for
a living. My minimum order volume is $1M, 10 standard lots and my maximum is $10M, which
is 100 standard lots per trade. You can then see clearly why I cannot afford to be
complacent. Since I use a C-Trader Platform, I use a very tight Stop Loss of 30 to enter
a trade, because of volatility and I quickly adjust it to 10 pips, after the price action has
stabilized. I also set the Automatic ;"BE" feature to 10 pips, that is, the Stop Loss should be
taken to BE (Break Even) when the trade has made at least 10 pips of profit.
Not only that, I also activate the Trailing Stop (Steps) feature to between 10 and 20 pips
depending on the type of trade, in order to lock in profit for me in case of spiking trends.

I do not recommend any of my systems to anybody because forex trading is not a
one method thing. You have to evolve a method that is suitable for your trading style.

This is the reason I went into the research in the first place. I have conquered
"fear factor" and because of that I can confidently post my LIVE TRADES here.
I do this in three forums by way of giving back to the society. Some people will
not like this at all. Who are these people? Your guess is as good as mine.

If I trade my accounts and make money, why should I want to take your money?
Do not pay a dime for any software or hardware, robots, systems, mentor-ship
EAs,Rubbish technical analysis, trading formula etc., be wise. Let them trade their
accounts and they can even make you copy their trades. You are just buying HISTORY.

If you read my initial thread, you would see how I joined the Forex Peace Army
in 2007 and participated in the LIVE TRADE ROOM. Since I was not satisfied with
the performances of the Moderators, I decided to leave for SABBATICAL to enable
me find my own strategy.Forex Peace Army still went ahead and published my
discontentment with the Moderators. Not only that, they still allowed me to freely
air my views without editing them. That is Forex Peace Army of Old for you.Once a soldier,
always a soldier. My sabbatical has taken me five years. Because I was inspired
by the Spirit of FPA founder-Felix, I decided to choose this forum as my number one.

Forex Peace Army is known for FAIRNESS, JUSTICE,TRANSPARENCY,DOGGEDNESS
and above all, RACIAL FRIENDLY. Members of the public can testify to this.

Any one who claims to be a forex guru, professor, legend,or "Minster Know All"
and still wants to take your money is a CHARLATAN, FRAUDSTER, CONMAN, or
"A BUCKET-SHOP PROFESSIONAL" apology to Forex Peace Army for the word
BUCKET-SHOP.
Let them trade their own accounts and make a living from doing just that.

I shall publish the Calender of Events for next week by tomorrow.
See you then.

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IT IS BETTER TO MISS A POTENTIAL GOOD TRADE THAN TO DO A BAD TRADE.

DO NOT COMPROMISE ON YOUR TRADING STRATEGY IF YOU WANT TO BECOME A PROFESSIONAL FOREX TRADER
UNLESS IT IS NOT GUARANTEED TO MAKE MONEY FOR YOU.

I strongly advise, you adhere to a winning strategy only because, losing hard earned money is not a tea party. We lose mainly due to inconsistencies in our policies. Again, do not even believe every thing I tell you in spite of the fact that I only want you to know the way I believe we should be trading, not to talk of those who want to take your money and sell RUBBISH to you.

I shall continue to post my live trades here, NOT HISTORY, until you no longer want me to.
Do not lose hope in your trading, those who now trade professionally, started like you and I.

I am always happy each time I see A NO TRADE SIGN IN MY STRATEGY because, I could have lost money trading badly.

You will hear from me soon.

FORGET ABOUT PERFORMANCE RECORD! IT IS DESIGNED TO MISLEAD AND DEFRAUD YOU.

FORGET ABOUT PERFORMANCE RECORD! IT IS DESIGNED TO MISLEAD AND DEFRAUD YOU.
I would like to advise you to forget about the so called performance record. Those who want to take your money will always be cleverer than you are. A lot of fraud goes on , especially on the internet targeting people who want to make quick money in forex trading. There is no way to make quick money in forex trading. You must be ready to learn and evolve your own trading strategy, because it is a life time thing.There is nobody who can help you for life.Those who claim they are professionals, and want you to pay them for one service or the other, cannot even trade forex to make a living. They are charlatans, looking for their next prey.I am talking from personal experience and I have been in forex business for seven years. I have just finished my research work and to continue the last phase, learning on the job.You can do the same and become better than those who like to dupe you now. Do not believe anything from them.I will trade forex for myself and for myself only.So,if I make enough money trading forex, why should I charge the same people I am trying to help?
Does it make any sense? When I became a member of Forexpeacearmy in 2007, I did not pay any money to learn a lot from the resources available to us on the website. It was here I learnt that we were been duped by 'bucket shop' forex brokers, but the harm has already been done and the saving grace was that the knowledge prevented us from falling prey to more 'market makers' forex brokers. So, BEWARE!

WHY DO 95% OF FOREX TRADERS LOSE THEIR MONEY? I CAME ACROSS THIS QUESTION AGAIN AND THESE ARE MY VIEWS.

It is so simple.This is because their thoughts, minds and psyche are embedded in forex technical analysis. 99.99% of these losers are those who are protagonists of technical ways of trading forex. In spite of the forex education by nearly all the forex brokers, they still lose their money. Why? Why is there a huge proliferation of forex brokers? Their number keeps increasing by the hour. THEY ALL HAVE SPECIAL FOREX EDUCATION SECTIONS ON THEIR WEBSITES AND YET 99.99% OF THEIR STUDENTS AND GRADUANDS LOSE THEIR MONEY. WHY?

The answer is this: They know once people are desperate to acquire wealth or at least have some financial freedom, they become very gullible. They easily fall prey to those hawks that are willing and ready to milk them dry. Why should forex brokers only teach them technical analysis? How SUPPORT and RESISTANCE levels can improve your trading techniques. MACD, Fibonacci, Elliot Wave etc. ,can make you a professional trader. They are aware of the facts that all these can never make one a professional trader. THESE ARE LIES, LIES AND LIES.

Let them teach you how to trade the US NON -FARM PAYROLLS if they claim to be your friends. Let them teach you how to trade CENTRAL BANK STATEMENTS, GDP , INTEREST RATES, MANUFACTURING PMI, EMPLOYMENT CHANGE and so on and so forth if they want you to attain SOME LEVEL of financial success.

Why are they showing you where the forex market price action is coming from--technical analysis, instead of showing you where the forex market price action is going-- fundamental analysis? Why will they not teach you RUBBISH when your loss is their gain. BE WISE.

Some people are too myopic to understand that anything that impoverishes the people is ANTI-PEOPLE and should be discarded. Do not be a PRISONER OF HOPE. By having hope upon
hope believing that one day you will have a breakthrough that does not come with the method you are employing. Following technical analysis is a direct invitation to poverty and losses.

What is in vogue now is that some forex brokers offer financial inducements called bonuses to forex traders to trade against them. What an irony of logic. Who is your friend? Show me your friend and I will show you your unrepentant enemy. The summary of all this is: FUNDAMENTAL ANALYSIS KNOWS WHERE ARE GOING TO WHILE TECHNICAL ANALYSIS KNOWS WHERE WE ARE COMING FROM. BE WARNED.

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COMPREHENSIVE NEWS TRADING, THE ONLY WAY FORWARD IN FOREX TRADING.

I have just completed my forex research initiative which lasted for about five years. I therefore make bold to say that the only way to be a successful professional forex trader is to acquire enough knowledge. The number one most important thing in forex trading. Forget about Risk Management, which is the last on the scale of preference. If you do not have the right knowledge,any good risk management method you employ will only help you to delay the rate at which you wipe out the entire forex account you may have.There would be no forex business if there were no fundamentals---- the driving force in the forex market. In view of the fact that only 5% of forex traders are successful goes to show the relevance of knowledge in order to have adequate Conviction of the method you use and the Confidence to stand by your trading method. In my subsequent posts, I shall endeavour to highlight other areas that make a successful trader and possibly post my live trades here.