DislikedSpoiler Alert: the key is to have enough experience to be able to effectively apply them at the right times.Ignored
If you haven't made it yet, what makes you think you will? 212 replies
what you really want to know in forex market at this point? 17 replies
Does an EA license Give You the Right to Give Signals? 2 replies
Give me premise or give me death.... 15 replies
Pivot point reference point? 7 replies
DislikedSpoiler Alert: the key is to have enough experience to be able to effectively apply them at the right times.Ignored
DislikedThere are lots of excuses in this thread that people use to say trading forex is impossible, there are no volumes, the market changes (bull@%* price goes up, price goes down thats it end of story), its to volatile, its not volatile enough, central bank interfere (yah so do the big boys when trading stocks) blah blah blah. The reality is that most of the people posting on this thread or in this forum for that matter have not been trading for more than a couple of years at most and really still don't have the experience necessary, if you are going...Ignored
DislikedThere is NOT ONE other financial instrument that is affected by the fundamentals AND monetary policy AND stock market AND Bond yield AND commodities prices AND political events plus market manipulations a.k.a central bank interventions. Any of these factors can send your positions going into a tailspin and your profit onto a south train.Ignored
DislikedOn top of that, we have to deal with unscrupulous FX brokers that requote the price, manipulate the spread, hunt the stop, delay execution, reject order, refuse to give back money all in the name of Forex is traded OTC.Ignored
DislikedWell Forex is one of the hardest, if not the hardest instrument to trade because it's so dynamic; it changes all the time. Once you figurered out something, it changes on you and you have to start all over again. And each currency pair is unique in its own way and the same strategy that works for one pair does not work for another. And at the same time the Forex market is affected by so many different factors across so many segments of the market. There is NOT ONE other financial instrument that is affected by the fundamentals AND monetary...Ignored
DislikedPeople buy and sell, and if you can identify where big orders are being executed at (where remaining limit orders are likely to be stacked), you can use this as an edge.Ignored
DislikedPeople buy and sell, and if you can identify where big orders are being executed at (where remaining limit orders are likely to be stacked), you can use this as an edge. Guarantee? No way, but nothing ever is in this business. Drop the funnymentals, the ascending sea scallop patterns, and all the indicators. For our purposes I find them to be entirely useless.Ignored
DislikedYes, everything ultimately boils down to trend strength, and key levels: whether the 'barriers' created by limit orders are voluminous enough to absorb the thrust provided by the market orders that are driving price into them. If they are, then price stalls, and possibly
reverses; otherwise, price breaks through to test the next level/zone. That's perhaps an oversimplification; but it's basically true.Ignored
QuoteDislikedI've had some success recently using bredin's 'II SupDem' indy to identify supply/demand zones, allowing low risk intraday entries.
DislikedI've had some success recently using bredin's 'II SupDem' indy to identify supply/demand zones, allowing low risk intraday entries.Ignored
DislikedThe only thing that I have about that indicator is WHERE do you exit? That indicator is REALLY good at pin-pointing entry points but where and when do you get out?Ignored
DislikedI'm not familiar with that indicator but I haven't used one in a long time either. After writing a price pivot program in C (Kenneth Lee calls them "swap levels") I discovered very quickly that it is difficult to program a computer to see what you can see with the naked eye, although computers can pick some of it up. As someone with a computer science background yourself you already understand this though.
In my own research I've found that these zones have a lot of good logic and evidence to back them up as a real edge...the reason for their...Ignored
DislikedInteresting thread guys, which forced me to write sth here after a long time
FX (or any other asset) trading is a very tough game, I am quite sure that all of you were extremely excited in the beginning and ready to get very rich once. Imho, it is not that surprising, all these adverts (even on social networks) and web pages telling you that you can change your life (very tempting if you have a lot of debt and shitty job). It is telling you how wonderful it is to be a full time trader, you can wake up whenever you decide to, you can go to many...Ignored
DislikedYou will dedicate all your free time to trading, you can even break the relationships, get frustrated and stressed, lose many years and get NOTHING. Unfortunately, this is very PROBABLE scenario, therefore it is very risky to rely on the small probability that you are the ONE who makes it. Is it worth it? You have to answer this questionIgnored
QuoteDislikedWhat I want to say is, that one HAS to take into consideration the OPPORTUNITY COST of getting the trading thing right, which is even very far from guaranteed. And you also have to discount possible future earnings. During 5 or 10 years time, if you put so much time and effort into anything else (e.g. entrepreneurship, university degree or whatever useful) you could possibly have even brighter future than spending days and nights in front of charts.
QuoteDislikedor you are the biggest genius in the world, beating the brightest minds from MIT, Cambridge etc who are working for hedge funds and big IBs. If that is the case I would suggest you to bring your track record there, and they will pay you 10 mio bucks per anuum (fair deal isnt it?).
DislikedThere was once an examination of Oanda's client accounts done, I believe in 2011 sometime, to try to get an idea of how really profitable trading can be for retail forex traders. They picked Oanda, I guess, Oanda is one of the biggest fx brokerage. You know what's the % of accounts that were making money they find??? 25%!! That's ONE in FOUR traders making money! That's not a big % of course but it's not a small one either. And it shows we CAN MAKE IT!!!Ignored
QuoteDislikedWe, retail traders are the ones who are making the market efficient; we are the ones who are making EU spread as small as 0; we are the ones who make sure the global bank that katrooo works can't charge an arm & leg for commissions and fees for exchanging currencies. The Big Banks would LOVE for us to give up so they can go back to the good o' days where they can make billions of $$ just on spread and commissions. Yes, the odds of making it is small just like everything else. You can be a very good worker, but how many of us can make...
DislikedTo be fair, that was only for a certain quarter I believe. The percentage of consistently profitable traders is much lower by the end of the year.
I don't think there's a conspiracy by the banks to get rid of retail traders...the fact is that most of us don't know what we're doing anyway so we just add to their bottom line. But what you say about traders making the market "efficient" is something important which undermines the stronger versions of the efficient market hypothesis.Ignored
DislikedBut what you say about traders making the market "efficient" is something important which undermines the stronger versions of the efficient market hypothesis.Ignored