MT4/MT5 EAs/Indicators/Alerts coder
If you haven't made it yet, what makes you think you will? 212 replies
A challenge to those who say Demos suck. 35 replies
Why did you start trading and what do you expect from it? 19 replies
Why you shouldn't show how much you have made in FX 35 replies
Dislikedif you suck at trading, maybe it's because you don't really understand how the market works...
here are some concepts that should be understood if someone wants to not suck at trading:
1. learn the basics of market microstructure. it's kinda like learning how orders work on the "atomic level" of the market.
2. learn how various market participants, such as large commercial institutions, retail speculators, banks, hedge funds, etc... all operate differently within the market, and how they each affect price movement.
3. learn how the interbank...Ignored
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I happen to really take to Jim Rogers and his style of trading. What exactly does he do to make money in the markets? Well, here's a short list as I know it.
3. he doesn't trade much. 3-6 times a year. Because he refuses to pull the trigger on anything unless the trade basically can't lose in any possible way.
5. He has been one of the greatest ever because he is open to trading anything and everything. Therefore, it's easy to find the 2-6 trades a year that can't lose
Thats why Jim Rogers doesn't suck, and you do.Ignored
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stay away from anything that requries you to use MT4. there's the now infamous "FU" plug in that allows brokers to manipulate your trades as they want.Ignored
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The bottom line is.... if you can't tell a good broker from a bad broker... and a good deal from a bad deal... how can you expect NOT to suck at finding good deals from bad deals in the capital markets?!?Ignored
DislikedHere's an interesting Jim Rogers quote, this is the reason him and others like him don't suck, sorry nothing to do with finding trades that 'can't lose'!
"Every trader must come to terms with losing, because all traders lose. In fact, most traders lose most of the time. It`s the bottom line that counts - winning more than you lose. But since losses are unavoidable one other primary principle is to limit your losses."-Jim Rogers
Coincidently George Soros said something similar "[i]It's not whether you're right or wrong that's important,...Ignored
QuoteDislikedWhile there are some obvious things to look out for it's not easy to find the best broker to suit your own personal trading requirements, sometimes the only way is to see how they perform in real time. What might on the face of it be a good deal and a good broker can turn into a nightmare when trading live!
QuoteDislikedYou're offering a lot of advice about not sucking at trading, some of it quite naive and misleading, no offence but are you actually a consistently profitable trader yourself?-
DislikedMy biggest problem that I ran into was Greed and Money Management. Let me explain real quick. I was always opening up way too many positions because I was trying to build my account up so that I could live off of the income.
Opening up too many positions due to greed led to a few margin calls, and I ended up blowing up my account.
We need to treat a $100 account like we would a $100,000 account.Ignored
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Help me out here pipmutt... I'm trying to see where the "wall" between my postings here and your fair and objective evaluation of them is coming from.Ignored
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"I don't like to say this kind of think - i make very few mistakes. i learned quickly not to do anything unless you know what your doing.... it is better to do nothing and wait until you get a concept so right and a price so right, that even if you are wrong, it's not going to hurt you"Ignored
DislikedI don't really see it as a wall, it's a discussion forum and as you yourself said the thread wasn't intended to be monologue so I can only assume you were inviting comment. You're making authoritative sounding statements declaring why people suck at trading, some of which I agree with, some of which I don't, some which are ambiguous, and some which are erroneous. I could post praise for the good points individually if you like but I thought my post about the thread helping people kind of covered that so I've focussed more on addressing the not so...Ignored
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Pipmutt...restating that I made comments that are actually "erroneous" is not a valid replacement for providing evidence that I have in fact made a single erroneous statement. Ambiguous, ok... sure. incomplete even... but not erroneous. and besides, this was never meant to be a comprehensive, all inclusive thread of every thing a struggling trader may need to consider. that would in fact be impossible to do in a thread.Ignored
DislikedSplitting hairs, ok by insinuation or omission then, either way like you say it's pointlessly argumentative and not going forward or beneficial to anyone.
Not wanting to repeat what's already been discussed or belabour those points I think it might help if we're both a bit more precise and unambiguous in future comments, would you agree?Ignored
DislikedGreat stuff on broke rs and the trade itself, please keep it going. Your reorganization of such material into a form you personally make money from is invaluable.
A lot of people are fairly intuitive, and so they can see things you don't.
I think that's one way to understand how successful trading only via drawing on a price-and-time chart even exists.
But I understand you need plain, comprehensive stuff to determine each and every trade. Determining set variables, which I already have begun to figure -- such as your 'liquidity' -- may be more...Ignored
DislikedBut I understand you need plain, comprehensive stuff to determine each and every trade. Determining set variables, which I already have begun to figure -- such as your 'liquidity' -- may be more useful than I'd put it for.Ignored