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Forex Education 78 replies

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Attachments: Is forex education misleading or everyone is stupid?
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Is forex education misleading or everyone is stupid?

Quoting Aussi
{quote} no not needed both on the same pic please continue
Quoting Lest
{quote}
sorry watching the cricket england 4 101 need 170 more to win we the Aussies need 6 wickets
KEEP THIS THREAD CLEAN
Quoting Aussi
{quote} sorry watching the cricket england 4 101 need 170 more to win we the Aussies need 6 wickets
I understand, I will wait patiently. It takes some time to produce a fake image. Don't rush so you don't make another mistake in the picture.
Quoting Lest
{quote} I understand, I will wait patiently. It takes some time to produce a fake image. Don't rush so you don't make another mistake in the picture.
KEEP THIS THREAD CLEAN
Quoting captalTrader
{quote} If someone shares only screenshots and not monitoring links to their accounts... BIG RED flag. Same as Instagram and telegram Gurus. They could be losers but No1 we'll ever know but people will still pay those 80 or 100 dollars a month for signals or whatever. Sadly you can't teach people common sense
Fully agree.. you can see in my TEs wiped-out accounts and you can see myfxbook I keep losing accounts for reference - i wrote n threads and I still keep losing accounts so all see how I do and how it is to learn and to experiment with various approaches:

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Ok but here my 5cents:

think about this mantra "You make money with money"... heard that, right?

have you heard "You make money with strategy X"... heard that too. right?

BUT

really rich people make money with money. they invest in n ventures, diversify etc. because people have limited time and you cant scale your personal time more than 24 hours per day. With money, you can scale (for example hire employees and buy more time).

in trading "strategy" is like regular hourly rated work in standard any-service position where you exchange your time for money. if you trade manual - you exchange your time for money. and this is not how money is made.

when you have small capital you have to take bold risks. and in trading that means 95% probability to lose all your miserable capital.

take a lok at this my account where I make money with money - because using martingale/averaging. I solve "problems" with money. I use power of money to deal with bad entries. And only question is about how deep pockets I have. Therefore risks are calculated. Yes - I can loose all account (actually i have 20% SL... and didnt see in 10 years history that was any SL hit and even if 3 times in a row SL hit I still have 40% capital and can at least somehow recover. I am still in a game).

so far this is working more than 1 year with real money:

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Ok tired to write most people here anywau disagree with me.. in short:
1) Use power of money and do not waste your time with manual trading if small capital
2) Diversify - never rely on 1 trading approach and never invest in trading more than 10% free capital. Invest in various places - trading is only 1 such place, invest in real stocks, invest in real estate etc
3) Better use time to earn money in regular hourly paid job and put 20% of earning in your capital. Gain capital. That is way to freedom. You wont get rich in trading with small capital with "magical strategy" ... no such strategy exists. you will loose time and money to fake "gurus" who promote such ideas as "earn for living in trading with 1000 usd capital". that is too small capital.
4) Because +/- "safe" expectations is about 20-30% yearly profits. So you calculate how big capital you need to earn with that for living

Here again some example how rich people get more rich and how money is earned with money and not "smart strategy":

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Here "strategy" is this: start capital 30000 USD, buy DJI every 1 hour 0.1 lots. Exit any opened profitable trade when it is +6 usd. CLose all loosers when your equity is +50 usd compared with when you opened first buy deal from loosers. [This is only an example to ilustrate idea, not tested properly]

You see that is power of money - you solve issues with money and not with your time or your "magic strategy" for entries/exits. Just calculate risks. Calculate that proportion what you can afford to not wipeout. Here dd is 13% and yearly profits is 40%. This is what rich people need and they do not need "smart strategies" because those does not exist.
Australia bowled out england , how good is that
KEEP THIS THREAD CLEAN
In the past I posted a lot, and read a lot, on the randomness of the forex market.
Here is what I believe happens in FX; the FX market is a Random Walk with occasional Levy Flight, and it's on those Levy flights that you can make profits!

I currently don't trade FX because the Random Walks can really eat into your profits while you look for those Levy Flights. I trade stock indices (which have, by their very nature, a long bias), and commodities (which can and do have seasonal biases)

Softs and the Ags are my favourites as their seasonality is very predictably, and there's a lot of imformation about it on the web. With China entering now as a huge buyer of Corn, Soy, Cotton and Coffee, trends get extended even more, but there's still growing seasons of course.
Lately, Oil is great too but can whip if Russia plays around.

CFDs have been my real boom, enabling me to play commodities at ease......
Quoting rover99x
In the past I posted a lot, and read a lot, on the randomness of the forex market. Here is what I believe happens in FX; the FX market is a Random Walk with occasional Levy Flight, and it's on those Levy flights that you can make profits! I currently don't trade FX because the Random Walks can really eat into your profits while you look for those Levy Flights. I trade stock indices (which have, by their very nature, a long bias), and commodities (which can and do have seasonal biases)
good point

more and more people see stock indices long bias. more open buy positions.. and this push all further UP in long term.
Quoting gepards
{quote} Fully agree.. you can see in my TEs wiped-out accounts and you can see myfxbook I keep losing accounts for reference - i wrote n threads and I still keep losing accounts so all see how I do and how it is to learn and to experiment with various approaches: {image} Ok but here my 5cents: think about this mantra "You make money with money"... heard that, right? have you heard "You make money with strategy X"... heard that too. right? BUT really rich people make money with money. they invest in n ventures, diversify etc. because people...
Please keep posting your TEs. I will check them each year and see how long they survive. Just like Davit's pivot factory people, you have a high provability of ruining....... Martingale NEVER works. For details, check Hanover's postings.
Simplicity is the ultimate sophistication - Leonardo da Vinci
Quoting heispark
{quote} Please keep posting your TEs. I will check them each year and see how long they survive. Just like Davit's pivot factory people, you have a high provability of ruining....... Martingale NEVER works. For details, check Hanover's postings.
ofcourse I keep. I have 3 brokers, n accounts, some martingale/averaging, all majority various "strategies" where some win some loose and +/- all compensate with some 20% yearly profit for entire portfolio.

when you make portfolio of assets then some MUST (according to theories and math how to make portfolios) be very risky (and very profitable because of that). Even cryptos in nowadays are added 1-2% in portfolios at solid investing companies.

but regarding your "NEVER"... see here >10 years running martingale.

ofcourse do not put all your money in 1 such martingale account.. diversify.
Quoting gepards
{quote} ofcourse I keep. I have 3 brokers, n accounts, some martingale/averaging, all majority various "strategies" where some win some loose and +/- all compensate with some 20% yearly profit for entire portfolio. when you make portfolio of assets then some MUST (according to theories and math how to make portfolios) be very risky (and very profitable because of that). Even cryptos in nowadays are added 1-2% in portfolios at solid investing companies. but regarding your "NEVER"... see here[/highlight]...
That account looks pretty much suspicious. He's selling robots and his broker FX Choice also looks suspicious. A broker located in Belize??
I guess that's a fake account sponsored by the fake broker. That's a typical SCAM using Myfxbook. If it's such a successful robot, why we cannot find it from Zulutrade.com or any other signal selling services? I think he ran a backtest using his robot and pretend as if that's a real trading history. As you know, you can make a MT4 broker with as low as $10K. Be careful, SCAM is everywhere.
Simplicity is the ultimate sophistication - Leonardo da Vinci
Quoting heispark
{quote} That account looks pretty much suspicious. He's selling robots and his broker FX Choice also looks suspicious. A broker located in Belize?? I guess that's a fake account sponsored by the fake broker. That's a typical SCAM using Myfxbook. If it's such a successful robot, why we cannot find it from Zulutrade.com or any other signal selling services? I think he ran a backtest using his robot and pretend as if that's a real trading history. As you know, you can make a MT4 broker with as low as $10K. Be careful, SCAM is everywhere....
it might be scam.. but... he uses big SL for 1st deal. risk/reward abnormal.. like 90/2 or something. that gives about 90% profitable deals. and then comes to those 10% losers where he use martingale and after losing open deal with x7 volume. Not x2 and then x4 and then x8 but straight to the super-risk using x7 (because had huge SL hit before already). He had in 10 years about ~22 such "all or nothing" moments. So far 100% of 22 trades were lucky ones. therefore maybe this is not scam.. but a high-risk approach. looks attractive to newbies.

keep in mind - you can use super risky strategy but maybe put in that 10% capital. so you have for example savings 10000 usd. In forex you can allocate no more than 1000 usd (10%). And then in 1 high-risk martingale you can put 100 usd. no more. and you cant put 100 usd in 10 varios martinales/averagings/grids.. nope... you have to diversify and cant put all on martingale bet. because shit might happen and ALL 10 martingale accounts might wipeout just because of some huge market disaster affecting all assets.

see here for example I have one stocks trading (no martingale, try to catch swings). You see - it had 40% dd so it is risky. But different risk than martingale approah.

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here i trade BUY and SELL - even you know I advocate to trade only BUY dips on strong companies. But still I diversified and use SELL also for strong companies stocks. why not..
Quoting gepards
{quote} ofcourse I keep. I have 3 brokers, n accounts, some martingale/averaging, all majority various "strategies" where some win some loose and +/- all compensate with some 20% yearly profit for entire portfolio. when you make portfolio of assets then some MUST (according to theories and math how to make portfolios) be very risky (and very profitable because of that). Even cryptos in nowadays are added 1-2% in portfolios at solid investing companies. but regarding your "NEVER"... see here...
I remember now I subscribed to you for your interest in martingale systems to see how you will do. I used to code martingales and I played extensively with them, all kind of them. Never lost money with them on real accounts but I was always very cautious and probably lucky. Certainly comes from my gambling side that we have all in common here. Actually it’s no more gambling than supposedly “trading” (some would disagree repeating all the BS you read everywhere about trading being a “business”…baa…baa..baa…). The first TE in my profile is a martingale system I think.

Here is the thing and I will try to make it simple because I think simple anyway : As in all systems, you need to have an edge to make money, right? That’s what all those gurus who never trade say. Martingales have an edge. It’s that the price in Forex pairs always tends to come back to it’s initial level, again, again and again, just like an infinite sinusoid. They are not assets, they are just swaps. It perpetually fluctuates just like weather temperatures, your heart rate, your wife’s mood. But you don’t know when it will come back to the baseline. In order to take advantage of that edge and win 100% of the time, you would need infinite money or infinite time. If you got one of them, you can build a true winning system on it. If not, you need to reduce your risk by playing with different variables (you got infinite variables at your disposal) to make your martingale system solid enough to sustain a black swan event. In this case, you will figure out that your daily profits would be so small that you would lose motivation in it, because there is something much more valuable than money, it’s time, our time on Mother Earth.

What I used to do is do combine both martingale systems and price action, like running a martingale system on times of the day or the year when I thought there was a low probability of breakout, or taking advantage of the high volatility (slippage is not an issue with those systems).

All the best.
Don't give up on your dreams. Keep sleeping.
Quoting gepards
{quote} Fully agree.. you can see in my TEs wiped-out accounts and you can see myfxbook I keep losing accounts for reference - i wrote n threads and I still keep losing accounts so all see how I do and how it is to learn and to experiment with various approaches: {image} Ok but here my 5cents: think about this mantra "You make money with money"... heard that, right? have you heard "You make money with strategy X"... heard that too. right? BUT really rich people make money with money. they invest in n ventures, diversify etc. because people...

You qualify bo be a real Guru

Your martingale strategy require you to have infinity amount of money.

Two things will happen and it's a Matter of when.

1. You'll make 100% profit then withdraw initial investment and risk the profits. Later everything will crash.

2. Everything will crash before you make 100% profit and secure your initial investment.

It's a great strategy that would work but depends on luck.

Selling copy signals from such strategy would make you more money than its actual profits, as every Popular top copy signal providers everywhere on popular platforms. Then the question of morals comes in.

I appreciate you
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Quoting captalTrader
{quote} You qualify bo be a real Guru Your martingale strategy require you to have infinity amount of money. Two things will happen and it's a Matter of when. 1. You'll make 100% profit then withdraw initial investment and risk the profits. Later everything will crash. 2. Everything will crash before you make 100% profit and secure your initial investment. It's a great strategy that would work but depends on luck. Selling copy signals from such strategy would make you more money than its actual profits, as every Popular top copy signal providers...
or

3. Write a book or sell an e-course "How to earn 20% yearly with 100 EAs portfolio"

don't forget about that option

but 20% yearly for average FF reader is nothing.. not "get rich fast". not attractive. doubt about book writing therefore
For all my heiters... Your time is NOW!!!

Got to myfxbook and monitor how first-time SL might be hit for my famous and everywhere posted in n threads EA screenshots which trade MSFT using averaging/martingale. So you see that I do use SL!

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Quoting gepards
{quote} it might be scam.. but... he uses big SL for 1st deal. risk/reward abnormal.. like 90/2 or something. that gives about 90% profitable deals. and then comes to those 10% losers where he use martingale and after losing open deal with x7 volume. Not x2 and then x4 and then x8 but straight to the super-risk using x7 (because had huge SL hit before already). He had in 10 years about ~22 such "all or nothing" moments. So far 100% of 22 trades were lucky ones. therefore maybe this is not scam.. but a high-risk approach. looks attractive to newbies....
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Triggering 55 lots of market order to make 2 pips of profit? Are you kidding me? Slippage and spread will torpedo this joking robot...... This is a not real.
If this works, Goldman Sachs should have adopted it long time ago!
Simplicity is the ultimate sophistication - Leonardo da Vinci
Quoting captalTrader
Introduction I am a programmer; I was introduced to forex market by a client in 2015. After studying the markets I then published an EA on the mql5 market August 2016, sold just 5 copies and rented 10 copies for one month only, because I believed then that too many users will affect EAs performance so I removed it from the market. It was a night trading EA as my research back then showed that the only profitable strategy was night trading. There was one best selling night trading EA back then, tried searching it but couldn’t find it. It was performing...
I have not posted here in a while but I found this to be very interesting.

Here is my Experience from trading the forex market since 2015.

The forex market is not random (no markets are random). There are specific signatures in price that you can exploit to build an edge. i.e only trade when you see these specific price signatures.

I agree that the majority of information on the internet about how to really trade the market forex or others is misleading. But profitability in both the forex market and other markets is found in Consistency in applying your edge (strategy) sound trading phycology and very accurate risk management.

Your chances of becoming profitable in the forex market increase with applying some sort of consistency in every aspect of your strategy. For me consistency was found in trading a single instrument, trading one setup, trading one-time frame, going for the same RR on every trade, Placing limited orders at the specific time when I see the price signature, trading only with the trend, risking the same amount of capital on every trade, having the same exit and entry on every trade.

EAs don't work unless they are able to adapt to market conditions. I have built 3 that were profitable, then failed miserably.
Give the market little, Aim to take a lot!
Quoting heispark
{quote} {image}Triggering 55 lots of market order to make 2 pips of profit? Are you kidding me? Slippage and spread will torpedo this joking robot...... This is a not real. If this works, Goldman Sachs should have adopted it long time ago!
I checked this myfxbook link. I also don’t think it’s real. I would say the main reason, among others which are more technical, is that he didn’t withdraw any money since the beginning, 10 years ago, despite the mega huge profits. It just doesn’t match with human nature as we know it.
Don't give up on your dreams. Keep sleeping.
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