Are you an expert when you win, a beginner if you lose?

Does it mean that you are an expert just because you make a lot of profit? The amount of profit cannot be used to measure the value of a trader. Yes, you must be doing something right if you are making a frequent profit. However, that does not determine if you are an expert or not just by your profit. This is quite a common misunderstanding in the forex industry.

Making a large profit is only one side of the forex market. Majority of forex traders tend to lose most of the time after they have experienced profit. But why?

So many traders fall into a fantasy land where they make an endless amount of money at the beginning. Many beginner traders tend to gain profit at the start not knowing the importance of technical analysis of the market.

The experts on the other hand who stayed became wealthy and stayed that way, continue gaining profit, are all knowledgeable when it comes to the basics. Experts have dialed many ways to control their minds to be set right to be a trader.

Understanding of the market is a must know anyway. Expert traders wait patiently until the right opportunity comes. Opportunity comes to everyone.

What differentiates the experts and the beginners is that experts know when the opportunity has come and knows to take advantage of it. Making profit by luck is possible, and yes luck is also very important. But can you profit with luck every time?

How an expert trader is determined is not by how much the person gained, it’s about the precision and the frequency of results. Profit can’t be maintained by luck. It is maintained and is a result of precision and strategical execution. You shouldn’t worry because you’re not gaining any profit right now.

You should be building your skill sets to be a better trader by experiencing many trading situations of losses and wins. If you invest in your time to improve, your results are guaranteed to increase more frequently and will become more stable.

Not at all; our trading result isn’t everything! If anyone is making like 30% monthly return, that doesn’t mean he is the boss! After few years, maybe he’ll face MC once again! So, we should focus on our learning process as always.

wining once or twice does not make you a boss, you can win by chance as well, but what is the point of that winning if you made 10 trades but out of those you win only 2 and lost in rest. winning in trading means consistency in your winning trades. And no one can predict market with 100 percent surety does matter that how many experience he have. so try to be consistent.

You can be a long term winner and still have no skill and be lucky. If there are 100,000 people trading Forex all entering randomly then statistically 1 of those traders will still be making profit at the end of the year. They won't be an expert, they will just be lucky.

ChillBro posted:
You can be a long term winner and still have no skill and be lucky. If there are 100,000 people trading Forex all entering randomly then statistically 1 of those traders will still be making profit at the end of the year. They won't be an expert, they will just be lucky.

I don’t think, with an ordinary trading skill anyone can make money here in a long run! It’s all about trading skill.

I never thought about it like that before. Very interesting. I guess I should be more careful about who I think is expert

Trading by using traditional trading systems based on rules or technical indicators and implemented, as single decision trees are increasingly ineffective. If investment is a process, then automation is the logical conclusion.
I build Algorithms that are Not base on traditional technical analysis, interpretation or prediction elements or based on signals relying on historical data.

MbFriday posted:
Trading by using traditional trading systems based on rules or technical indicators and implemented, as single decision trees are increasingly ineffective. If investment is a process, then automation is the logical conclusion.
I build Algorithms that are Not base on traditional technical analysis, interpretation or prediction elements or based on signals relying on historical data.

And do your algos work? I see your account has only been running a few months and has had a drawdown of 50% . That is rather risky don't you think?

JamDay posted:

MbFriday posted:
Trading by using traditional trading systems based on rules or technical indicators and implemented, as single decision trees are increasingly ineffective. If investment is a process, then automation is the logical conclusion.
I build Algorithms that are Not base on traditional technical analysis, interpretation or prediction elements or based on signals relying on historical data.

And do your algos work? I see your account has only been running a few months and has had a drawdown of 50% . That is rather risky don't you think?

No doubt it’s risky and as I see; he’s not interested to reply! Since, it’s a long time but no response!

Bueno, es interesante la forma en que lo dices y sin embargo existen muchos principiantes que al invertir tienen suerte y consiguen ganancias pero al hablar de la percepción, si nos sentimos de esa forma los más expertos porque al tener una pérdida y sobre todo de gran proporción nos vemos a nosotros mismo como unos principiantes y no entendemos por qué con todos los conocimientos que poseemos tengamos alguna pérdida.

According to me making profit is not the only criteria to call one an expert . To be actually honest , i don’t think there is anything like an expert in forex trading due to the highly volatile nature and uncertainty of the forex markets. However , one can always try his best to reduce the chances of mistakes he commits while trading. For me missing out an opportunity of making larger profits is equivalent to a loss , even though i made some profit. So , it depends on trader to trader , his ability to take advantage of a situation and close good deals.

Whether it is forex or any other business, success or money or profits only matters now a days. Irrespective of how much experience you have and how much knowledge you have in forex or any other business if you are not successful and if you don't make consistent profit, then it doesn't matter much.

Now a days in the era of computers and technologies, 100% automated algos will automatically take over all such knowledge and years of experience in a matter of days and forex trading field will be the first area to dominate.

So only if you are successful and make consistent profit in forex whether it automated or manual or semi-automated and that's all what matter.

Q_FxTrader posted:
Whether it is forex or any other business, success or money or profits only matters now a days. Irrespective of how much experience you have and how much knowledge you have in forex or any other business if you are not successful and if you don't make consistent profit, then it doesn't matter much.

Now a days in the era of computers and technologies, 100% automated algos will automatically take over all such knowledge and years of experience in a matter of days and forex trading field will be the first area to dominate.

So only if you are successful and make consistent profit in forex whether it automated or manual or semi-automated and that's all what matter.

Well with wel defined trading plan, trades can be executed better by EA and human.
Without well defined trading plan you should not trade at all ;)

by EA than human.

togr posted:

Q_FxTrader posted:
Whether it is forex or any other business, success or money or profits only matters now a days. Irrespective of how much experience you have and how much knowledge you have in forex or any other business if you are not successful and if you don't make consistent profit, then it doesn't matter much.

Now a days in the era of computers and technologies, 100% automated algos will automatically take over all such knowledge and years of experience in a matter of days and forex trading field will be the first area to dominate.

So only if you are successful and make consistent profit in forex whether it automated or manual or semi-automated and that's all what matter.

Well with wel defined trading plan, trades can be executed better by EA and human.
Without well defined trading plan you should not trade at all ;)

In fact, that is correct. Automated EAs and other platform based auto algos will lead the forex market faster than expected.

I hardly doubt even any manual traders will even exist in the forex market at all after few years.

Hello Q; you are wrong; I am sure number of good traders are doing manual trading; since it’s a decentralized market!