DislikedOk, here is how I see it:
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P.S. for serious readers: 'The Time Paradox' by P. ZimbardoIgnored
Thanks for sharing
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DislikedOk, here is how I see it:
...
P.S. for serious readers: 'The Time Paradox' by P. ZimbardoIgnored
DislikedDieting has a "negative expectancy". Only 95% are successful at it (according to stats).
Just human nature I guess. So maybe forex isn't that much harder than dieting?Ignored
Disliked2. If you could recover your spread + 1 pip on every trade you could kiss your day job good bye!Ignored
Disliked3. Forex pricing as experienced by the small, retail trader, on a DAY TRADING basis, is random.Ignored
Disliked4. If you daytrade the retail forex market for a long enough period of time, you will lose all of your invested funds.Ignored
DislikedHope this helps some people. No need to post hateful responses. If you disagree, then continue to enjoy daytrading retail forex. It is a thrilling ride with a lot of ups and downs. To bad it will leave you poorer for the ride!Ignored
DislikedOk, here is how I see it:
Some might say that an avg. 1.5% per month is a lousy return - but if the capital is $20m and more, its a decent living I'd say.
H. Rearden
]
Really the capital is $20m?
Are u interested with system with minimal drawdown and 10% per month.
If I have capital of $20m, yes, 1.5% per month is enough but yes, it is lousy return. If you would like to try out my system.Ignored
Disliked1. Greenspan is not a trader and never has been.
2. It is harder for somebody with 5 billion to make money in forex than there's for me. I can buy 1 million without moving the market, you can't do it with 5 billion.
Greenspan is referring to the big banks, not to the small trader who can profit from inefficiencies. I don't have to consider Greenspan an idiot, I know he is right in his broad view.
The markets are not at all random. There's easy to prove this by using DIBS. For all the majors this system works. Use it on a random chart and you'll...Ignored
DislikedWhy the big boys don't use DIBS if it so profitable? Because they can't buy or sell billions with 1-2 pips spread.Ignored
DislikedOn March 1, within 30 minutes of London opening, G/U fell 400 pips from 1.51 to 1.47- No one in the world could have predicted that fall except the clearing house which facilitated the sale.Ignored
Disliked..... So are winners of coin-tossing contests. The seeming ability of a number of banking organizations to make consistent profits from foreign exchange trading likely derives not from their insight into... "
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Disliked"Nonetheless, despite extensive efforts on the part of analysts, to my knowledge, no model projecting directional movements in exchange rates is significantly superior to tossing a coin."Ignored
Disliked" to my knowledge, no model projecting directional movements in exchange rates is significantly superior to tossing a coin."- Alan GreenspanIgnored
Disliked"The exceptions to this conclusion are those few cases of successful speculation in which governments have tried and failed to support a particular exchange rate. Nonetheless, despite extensive efforts on the part of analysts, to my knowledge, no model projecting directional movements in exchange rates is significantly superior to tossing a coin. I am aware that, of the thousands who try, some are quite successful. So are winners of coin-tossing contests. The seeming ability of a number of banking organizations to make consistent profits from foreign...Ignored
Disliked@ FX-Petra. I don't mean to be rude, but your assertion that the market is random on an intraday basis yet ordered (so to speak) on a daily time frame is ludicrous. By what mechanism can series of random events magically coagulate into order?
The markets aren't some crazy quantum process. It's just people selling sh!t.
edit: Also like to add that you might be right about about day trading being "impossible", but that ain't because it's random.Ignored
DislikedThese comments of Greenspan's, if true, spell the death knell for every retail trader.
There are a zillion ways to approach trading, and nobody has infinite knowledge. Hence I don't believe that anybody can really prove that profitable trading is impossible (i.e. beyond mere 'luck'). The best that any one person can say is that "I haven't yet found a real, enduring edge".
Conversely, I would also argue that it's easy to be fooled by randomness. How many profitable months' trading, or trades behind him, must a trader...Ignored
Disliked....But that does not change negative expectancy. Keep trading long enough and your fortunes will reverse.Ignored