Forex What does that even mean anyway - common trader sayings

Ok, Im bored again so heres a thing, anyone who's been visiting this site (and/or other forex forums) for any length of time will have come across a selection of comments and statements that get put around quite widely and seem to be regarded as gospel truth, some might have some sense even if we dont know the actual math behind them, like for example never risk more than 2% on any one trade, certainly sensible advice to a noob but is it a bit too rigid if you have a system which produces a high percentage of wins? Personally I trade between 0.5% and 4%, usually at the lower end of the range but sometimes a little bit more, depending on the chart in front of me.


What Id like to know is; how many of them have any basis in truth at all? what is simply urban legend? what is total bullpoo and what might be quite useful.

I have my own opinions about most but I'm not sharing them just now.


If you have a favourite quote or rule or something humorous (and vaguely relevant) please post it and hopefully between us we might be able to figure out where they came from and if they actually have any value.

'You cant trade successfully with less than $1000 account.'

'Brokers are hunting stops'

'That system won't work in the long term'

'95% (or any nearby figure) of retail traders bust their accounts in three months and quit.'

'95% of new retail traders are no longer trading after 1 year and X% of the remainder are no longer trading after 3 years.'

and doubtless many more besides,,, please add any you can think of,,,

Source.