Your Questions About Successful Trading System

Thomas asks…

Which genuine online trading forex system is suitable for a new comer?

I have always wanted to trade forex online and have done a lot of reading including attended a short course. Now I’m looking for a genuine online forex system to use. Please share what you actually have tried out and found profitable.

P/S Please don’t share what you have not tried out yourself, please.

John answers:

I’ve read a lot about Forex, but I’ve never seen a proven profitable forex strategy, despite the claims of some scam web sites.

Playing Forex can appear alluring, but the majority of people who try it lose money. All you have to do is do a web search on the words “Forex” and “lose” to see this is the consensus.

Forex is what we call a “zero sum” game. You are making a bet with someone else about whether a currency will rise or fall. For every winner there has to be a loser. If you are smarter than the average player, you may make money. If you are dumber than the average player, you are likely to lose money. Most of the people making the “bets” in Forex are highly trained professionals at banks and other institutions. You are unlikely to beat them at this game.

Actually Forex is not quite a zero sum game. It’s a slightly negative sum game as the Forex broker takes a small percentage each time in the spread. It’s a small amount but over a hundred trades, it ends up being a considerable amount of money. So the average player is likely to lose money, and remember the average player is a highly trained professional and probably smarter than you.

There is a lot of luck in Forex, and if you play it, you will have some periods of time where you make money. This is usually because you are having a lucky streak, not because you have suddenly become an expert Forex player. However, most people are unwilling to admit their success is due to luck. They become convinced they have a system that works, and lose a lot of money trying to refine it.

Further complicating the problem is the large number of Forex scams on the internet. Most Forex websites are of questionable honesty. You will find many people on the Internet that claim they made a lot of money using Forex. They are usually liars trying to make money. They will say: “Go to Forexcrap,com/q2347.” The “q2347” is a signal to the Forexcrap site that you are being referred to them by “q2347.” If they sell something to you, “q2347” gets a kickback. These coded signals can be hidden by different methods in the link. Other people will refer you to their own private website or blog for the purpose of trying to get money off you. Also there are a good number of trolls out there that like to pretend they are successful forex traders just for the fun of it.

I would recommend not trying to do Forex at all, unless you are a trained professional. It’s like playing poker with people better than you, with the house constantly taking a small percentage from the pot.

Mary asks…

Have been losing money in forex continuously for 3 months. Should I quit trading?

I have been trading forex since 1999, but been losing money for so long till 2008 that I achieve 100% return on investment. Thereafter, I have some wins and lost. Don’t know why since May 2010 I have been losing money consistently. Any advice?

John answers:

The other fella said to stop trading real money, I agree. Also I dont know what you are doing but if you are using technical analysis it does not work, stop using it. I cant understand why forex traders would use something that there is no proof anywhere that it works.

Http://knol.google.com/k/mark-mc-donnell/-/3j2ez79fq3qkn/0#

Here is something for you to consider. Read this series of five award winning forex technical articles. I believe I can make anyone a successful forex trader using these principles. I hope you enjoy them. If, on a conceptual basis, you agree with the content of these 5 articles I am sure our paths will cross again. Ithink you can make hundreds of pips per week with this system but you must be willing to papertrade for about 30 days to prove that.

Good Trading
Mark McDonnell
http://www.forexearlywarning.com
Yahoo Answers Level 3 Responder

Robert asks…

What are the benefits of a university education?

If the government hype is to be believed then a university education is the passport to a more successful life. Has anybody experienced any real benefits as a direct result of having studied at university?

John answers:

Personally, I have experienced benefits as a direct result of having studied at university, but that’s because I now work as a research fellow in a university. However, I strongly believe that the government is doing its best to destroy any standards that we may have had in the education system and insisting that everyone should go to uni has no logical reasoning behind it.

It used to be widely accepted that people were talented in different areas and were encouraged to pursue careers in order to compliment their skills. A small proportion of the population went to university to pursue a worthwhile academic degree, often leading to a related career such as a career in academia. Other people undertook apprenticeships in order to acquire a trade and so on. These days it seems not to matter what you study at university so long as you go and study ‘something’. As a result, we have a shortage of skilled people in trades such as plumbing and an excess of people leaving university with a whole heap of debt and not much else to show for the past three or four years.

The government needs to wake up to the fact that not everybody is suited to university and also needs to acknowledge that people are choosing pointless ‘made up’ degrees over worthwhile subjects such as the sciences, ,just to go to university. How does a degree in ‘pop music’ benefit society? At the end of the day, something has to change, including attitudes. Having a degree used to be a prestigious thing, now people look at you strangely if you don’t have one! At the other end of the scale, people take a snobbish view that not going to university means that you are somehow not intelligent or not skilled. Is this really what the government hoped to achieve?

Betty asks…

United States during the Great Depression and the New Deal Eras?

What is the context, or/and some specific details about, the cause of the Great Depression and how it affected society. What were the different strategies used to combat the Great Depression. What factors led to the failure of Herbert hoover’s strategy and why, in comparison, was F.D.R.’s approach so successful? What are some specific programs of the “New Deal” [accomplishments and limitations]. Did the New Deal get America out of the Great Depression?

I think that what ended the Great Depression was the war!

Answers?

John answers:

.The Depression occurred from wild speculation in the credit and stock markets.This wildness was caused by low interest rates and that the Federal Reserve System was on top of the economy. The stock market crashed Oct 29, 1929.Hoover’s mistakes were interest rates were increased and stayed high,thus companies couldn’t borrow money.Then he pushed through a major tax increase, and finally congress pushed through a tariff. Other countries retaliated, and world trade ground to a halt. Industrial out was cut by 50%, unemployment hit 25%, and bank failures wiped out millions of peoples savings. Roosevelt declared a bank holiday, and the biggest change in banking happened since Hamilton set it up. Roosevelt’s “New Deal” was designed to get people back to work. Huge public works projects were started, dams, roads etc. Were built – anything to get people some feeling of worth again. Some of the programs were C.C.C.(Civilian Conservation Corps) N.Y.A.(National Youth Administration) and W.P.A.(Works Progress Administration). Some of the projects were TVA which built 16 dams for more electric power. The National Recovery Act set codes for price, wages, and production codes for companies. The Aricultural Adjustment Act was set up to limit farm production andboost farm income. As you say WWII did a lot to get the US solvent again. Some say the Depression never really ended until 1952

Ruth asks…

What are the human/material resources needed to form a state?

In your opinion what are some things that a successful state needs?? EX.. Water, Modernization, industrialization, food etc.. Thank you in advance!

John answers:

It needs to be self-sufficient, nearly-self-sufficient, or at least have enough to be self-sufficient for a time in case of emergency. It needs to have some form of a viable economic system compatible with the international economy. Technology to support a population and infrastructure equal to modern western civilization. Finally, it needs to be able to provide for its own common defense, because it’s a cold hard fact that in the world today, if someone decides that you have something that they want, and you aren’t willing to peacefully trade with you, they’ll just take it by force.

Finally, you have to have enough time to establish yourself as a realistic state to be recognized by the international community.

All of these are for *successful* states, of course. Somalia is still technically considered a independent state and sovereign country… But obviously it sucks. Yes, I made that judgment call. Somalia sucks.

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