T4Trade replies to: Hanover replies to PMs

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Hanover,

you remain a riddle to me…..either you are a very nice, but also in some ways naive guy who has really wasted a substantial part of his life with retail forex (selling the dream for free)…..or you are one of the most effective weapons the affiliate marketing industry has to offer….

Whatever is true, (I personally hope it’s number 1), there is no doubt that your posts motivated newbies to engage with retail forex and you did an awful lot to keep the dream alive, in my opinion nurturing a lie of epic proportions.

Looking at your final post..

Nr.1 / We agreed that an effective forex market is most of time for most of the participants enough random, so a market maker is able to make sure trading costs exceed any edge of a retailer in the long run, especially if he engages with little capital and leverage…

However, you kept believing that you will be able to exploit pockets of non randomness and therefore kept chasing the dream, motivating others to join…. Whenever I digged deeper, you acknowledged that forex trading is just a hobby, you trade small (which is good) and you haven’t been able to really extract money out of it, despite the significant amounts of work you invested into retail forex trading.

Nr.2 / … Some of the negative, toxic and/or inane comments were starting to do my head in…..
Well, I hope some of my comments have impacted your thinking in a positive way…and if you quit or reduce the time you dedicate to retail forex, I was successful. If you are really able to overcome the addictive side of retail forex and quit forever, you will be able to judge in 5 years whether I was right or wrong. I am sure you will forgive me in impacting your thinking….because you experience a life much better that what you get in retail forex.

While my comments are certainly negative for the business of retail forex brokers, they are very positive for 99% of all retail traders in the long run, because they hopefully quit faster and lose less money than otherwise. If there is an andectotal, very, very small amount of traders that do achieve consistent profitability, which I do believe doesn’t exist in the retail forex group today, well they won’t certainly bother at all about my warnings….

Nr.3 / We had that argument together…. If you haven’t got kickbacks from brokers, signal sellers or forex educators and worked for free…well, that’s not impossible but considering how this industry is organized it is highly unlikely. Most brokers have affiliate marketing programs paying up to 500 USD per customer, some have models where they share part of the spread and commission….etc. etc. It’s a lucrative business to fish for new victims and there is certainly a whole fishing fleet on FF….

You remain an anonymous FF identity and it is certainly a good advice that anonymous sources can’t be trusted based on the picture they paint from themselves.

Nr.4 / Thankless effort for no reward……You received quite a lot of positive feedback to your contributions…..from me too. And to make it clear, you have contributed knowledge and experience.
I don’t know much about the indicators you made, but what I know about indicators is the fact that if they are a processed from price they can’t add additional value to predict a future price movement.

Nr. 5 / The threads you link do somehow not fit the picture you paint about yourself….these are typical selling the dream threads…..and I somehow get the feeling you hand over your work to some new hands.

In your footnotes you mention that after thousands of trades you came to the conclusion that the market is random and can’t be predicted,so the dream is finally dead…..?!

No, no, no…..it isn’t – what a surprise! You just opened another door and this time it is “a couple of institutional traders” that will finally transform you in a consistently profitable trader…. finally. We are just running in circles, aren’t we?

So if you really care what people think about you and what your legacy within FF will be, a very clear warning from your side to newbies regarding the rotten retail forex industry is exactly what I am missing in your final statement.

Tin foil hat off – I wish you all the best for your endeavors.

Thank you.

Hudi

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