"good traders trade, bad traders teach" | Page 10 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Broker Challenge "NDD/STP" vs. True "ECN" and "Mkt Mkr" broker talk 46 replies

Can you teach me Carry Trade and Swing Trade? 5 replies

Dealing with "Invalid Price", "Requote", "Server Busy" in MT4 3 replies

Is it another "good news is bad news" day? 8 replies

Why can't every good trader teach well? 17 replies

Attachments: "good traders trade, bad traders teach"
Exit Attachments

"good traders trade, bad traders teach"

  • #181
  • Aug 12, 2017 1:11pm Aug 12, 2017 1:11pm
Check Robert Miner
He´s been teaching for 2 decades, developed his own software.
He won the 1st prize as commodity trader (with real money) back then.
He still teaches (and trades)..
In my opinion, the best.
You can google these facts....

BTW:
Everybody, beware of the "explosive political times", an ugly war, besides the human catastrophy, could create a weekend gap of thousands of pips, people could end up bankrupt on Monday, and selling their underwear to pay for negative balance, on over leveraged positions and broker "slippage".
  • #182
  • Aug 12, 2017 1:17pm Aug 12, 2017 1:17pm
seems everybody here knows somebody that knows someone that knows another guy who is profitable
  • #183
  • Aug 12, 2017 1:18pm Aug 12, 2017 1:18pm
Quoting Winston Reed
{quote} Only one thing to say. SHOW ME THE MONEY!!!. There are none here. Zero, Zilch, Nada. LOL. PROVE me wrong. I know. You can't. It's ok. Trade safe brother.
  • #184
  • Aug 12, 2017 1:39pm Aug 12, 2017 1:39pm
Quoting hanover
{quote} Sorry to hear about your health issues; I'm on medication for weight, cholesterol and diabetes. Most of my income comes from software royalties and various business investments, NOT trading. Like you, I've found getting consistent profit from retail/amateur trading (i.e. predominantly TA/PA) to be a significant challenge. I spent some time and money being taught FA; I'm currently doing a course on institutional trading, and have learned that these guys view the market using a different set of tools/filters, and trade using VERY different...
i hope not with oli or jay. then you have integrated funny things :-).
  • #185
  • Aug 12, 2017 2:15pm Aug 12, 2017 2:15pm
I don't now from a lack of sizable funds, but I did trade full time living off profits from 2000-2007. changed carees on feb 2007 due to a s and p crash when the market jumped over my stop loss (had 24 contracts got sacked about 25 points) took what I had left and built a house. and havnt wanted to do it full time until now from the extreme stress of trading all,the time. np trader has control over certain situations no matter how many precautions you take.

And I helped other traders on forums and even worked closely with 4 traders on 2 separate occasions develop and implement trading strategy. 1 who trades still today. point is I was a good trader and I did teach.
Thanks I do this often.
  • #186
  • Aug 12, 2017 5:59pm Aug 12, 2017 5:59pm
Quoting dukas_trader
i hope not with oli or jay.
I don't know Oli or Jay.
Quoting Winston Reed
Perhaps we're not speaking about the same thing..........
Fair enough. Perhaps I'd unfairly bracketed you with some of the more loud and obsessive cynics who post here.
  • #187
  • Aug 12, 2017 7:15pm Aug 12, 2017 7:15pm
Quoting hanover
{quote} I don't know Oli or Jay. {quote} Fair enough. Perhaps I'd unfairly bracketed you with some of the more loud and obsessive cynics who post here.
I think my "bracket" has been clearly stated already but I'm not so loud and obsessive any longer. I was at one time and for good reason. Its interesting that those who attempt to legitimately expose fraudulent trading "gurus" are labeled as loud and obsessive cynics. They are the true heroes here at FF.
  • #188
  • Aug 12, 2017 7:28pm Aug 12, 2017 7:28pm
1. There is no legitimate trading education being offered in these infamous threads. (BUT there may be some threads that unknowingly have something, but it's very thin) LOL.
2. The development and distribution of indicators here and by brokers should be a RED FLAG to wanna-be-traders. They are designed to get you on the wrong side.
3. Learning the language of price or price action as is touted IS the path to successful trading. Learning this language involves unlearning most everything you've learned. It means completely discarding all indicators and...yes...it means stopping looking in these infamous threads for the answer.

Bummer huh!?

BUT it's a fun place to read all the BS!!!
  • #189
  • Aug 12, 2017 10:17pm Aug 12, 2017 10:17pm
Quoting Winston Reed
1. There is no legitimate trading education being offered in these infamous threads. (BUT there may be some threads that unknowingly have something, but it's very thin) LOL. 2. The development and distribution of indicators here and by brokers should be a RED FLAG to wanna-be-traders. They are designed to get you on the wrong side. 3. Learning the language of price or price action as is touted IS the path to successful trading. Learning this language involves unlearning most everything you've learned. It means completely discarding...
Mr Reed, I am almost agreeable to most of what you have written and also that of Hanover. The subtle difference may be the how each of us define certain terms or terminology especially in finance whereby new terminology are being minted almost every year which are meant to mask and confused most. This new term which I highlighted in your earlier post caught my attention and I am curious to know if you yourself have already learnt and mastered the so-called language of PA. I would love to know if we speak the same language.
Everybody here can claimed that they are good trader and it is ok and understandable BUT if someone ask me if I believe that he/she is a good trader then the onus on be on me to asked him/her to convince me by making 5 live trade calls of which he must be right 3 out of five with a minimum RR of more than two. No need to show PL accounts or TE and whatnots.
I also took the time to look up some of your earlier post that you mentioned something on forex educations here in FF and I like to add that Forex basic educations is imperative and necessary for someone who wish to be a forex trader but I have not came across any trading strategy/method which can yield consistent and sustainable profits in my own assessment. You also mentioned that successful or robust trading education can be expensive and it will need a long time to master it and here my view differs slightly whereby becos cheap or expensive can be relative to different folks. A LP or merchant banks will consider anything less than 100mill to be dirt cheap for a verifiable winning strategy/method and some is even willing to make you a corporate partner in a new trading division headed by you. And contrary to most beliefs and what is touted here is the long time needed to learn a winning strategy is totally flawed cos it will only take five sentences to know and master the PA "language". With all said, the biggest question is why would someone who has a winning strategy would want to teach anybody their method or sell it outright to any institutions UNLESS you are in the family. I believe its impossible and not rationale for that to happen. The most he will do will be to give some hints/tips and that's is already very generous and a noble act to lift somebody up and out of their predicament.

GS
  • #190
  • Aug 13, 2017 8:13am Aug 13, 2017 8:13am
Quoting genghistar
{quote} Mr Reed, I am almost agreeable to most of what you have written and also that of Hanover. The subtle difference may be the how each of us define certain terms or terminology especially in finance whereby new terminology are being minted almost every year which are meant to mask and confused most. This new term which I highlighted in your earlier post caught my attention and I am curious to know if you yourself have already learnt and mastered the so-called language of PA. I would love to know if we speak the same language. Everybody here...
I am learning the language of practice but have in no way mastered it. If it wasn't for my education over the last year I would have never seen price as has been taught. Understanding overall price structure at a bar level (yes bars have meaning but in context), small structure level and major structure level is key. Oddly enough price tends to do certain things over and over.

A three out of five trade requirement in no way proves anything and concentrates on quantity of trades rather than quality. I can and have won 1 out of 5 trades and because of proper money management to include a minimum 3:1 R:R I come out ahead. Each of us must embark on their own search for a proper education. I know I am receiving a proper education but it is not necessarily the only education. Although it is not necessarily a deep and dark secret I refrain from discussing it here so as not receive commercial attention and also because I don't want to engage in defending my choice. No doubt many will ask for proof and make other demands. However by reviewing my recent history it isn't difficult to figure it out.
  • #191
  • Aug 13, 2017 8:14am Aug 13, 2017 8:14am
Quoting Winston Reed
{quote} I am learning the language of practice but have in no way mastered it. If it wasn't for my education over the last year I would have never seen price as has been taught. Understanding overall price structure at a bar level (yes bars have meaning but in context), small structure level and major structure level is key. Oddly enough price tends to do certain things over and over. A three out of five trade requirement in no way proves anything and concentrates on quantity of trades rather than quality. I can and have won 1 out of 5 trades and...
Perhaps I will give a small and simple example later.
  • #192
  • Aug 13, 2017 10:33am Aug 13, 2017 10:33am
Understanding price is not about waiting for a setup. It's about getting in touch with the market you're trading which involves following price as it moves in swings. In this case price was moving down on the left then started up and broke a confirmed swing (blue rectangles) and took out sellers (red rectangles). A retracement to where buyers launched to take out sellers provided a buy opportunity with a reasonable stop of about 30 pips. A 3:1 was achieved where price ran into previous sellers. A 3:1 is a minimum requirement to trade.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDH1.png Size: 96 KB
  • #193
  • Aug 13, 2017 11:08am Aug 13, 2017 11:08am
Quoting Winston Reed
Understanding price is not about waiting for a setup. It's about getting in touch with the market you're trading which involves following price as it moves in swings. In this case price was moving down on the left then started up and broke a confirmed swing (blue rectangles) and took out sellers (red rectangles). A retracement to where buyers launched to take out sellers provided a buy opportunity with a reasonable stop of about 30 pips. A 3:1 was achieved where price ran into previous sellers. A 3:1 is a minimum requirement to trade. {image}
a problem with lines. after the prices are there already, i can draw you lines in, that will teach you anything with any rules.
that will work all the time , its the problem that people think it looks same when price was not already visible .

past analysis is complete useless (complete! ) if you did not do this before and this drawed things happen to a good chance later. and you can compare with the reality later as past analysis.

only this past analysis, you only learn how to draw a line.

i know, its not a nice rule, but a true rule.
  • #194
  • Aug 13, 2017 7:21pm Aug 13, 2017 7:21pm
Quoting Winston Reed
{quote} I am learning the language of practice but have in no way mastered it. If it wasn't for my education over the last year I would have never seen price as has been taught. Understanding overall price structure at a bar level (yes bars have meaning but in context), small structure level and major structure level is key. Oddly enough price tends to do certain things over and over. A three out of five trade requirement in no way proves anything and concentrates on quantity of trades rather than quality. I can and have won 1 out of 5 trades and...
Appreciate yr respond and I wish you good luck in your quest to learn your PA language .
  • #195
  • Aug 13, 2017 9:07pm Aug 13, 2017 9:07pm
Quoting genghistar
{quote} Appreciate yr respond and I wish you good luck in your quest to learn your PA language .
Thank you brother.
  • #196
  • Aug 14, 2017 3:15pm Aug 14, 2017 3:15pm
bad traders post on forums, ugly traders teach.
  • #197
  • Aug 14, 2017 3:16pm Aug 14, 2017 3:16pm
bad traders post on forums, ugly traders teach.


p.s. Yes, I'm a bad trader
  • #198
  • Aug 14, 2017 4:18pm Aug 14, 2017 4:18pm
Quoting ClimaxOffset
{quote} {image}
Nice EA LOL
  • #199
  • Edited 4:46pm Aug 14, 2017 4:34pm | Edited 4:46pm
First of all we have to define what a "successful trader" is. For some, it is an amazing feat to have 20 consecutive years of annual returns around 10%. Is this possible ? Absolutely. Is such a trader also probable to teach on the side ? Certainly, because I can easily see how teaching can make most of his income if he doesn't have a big capital to start with or if he trades money that's not his own.

But, if we are talking about traders who claim they can teach you how to consistently make 10 pips daily or achieve 50% monthly or some returns in that order of magnitude, then they are all scammers. Whether they realize it or not. (It's perfectly possible for someone to believe that his system can actually make such profits without it being the case. It's like a tarot reader who believes he's really reading the future but in reality just scams his clients).

It doesn't take much effort to see that such explosive returns would make anyone a millionaire very quickly and so he needn't resort to teaching on the side. Unless of course we believe all those who claim that they love teaching and that's why they do it, because helping the poor, travelling the world, living the high life with luxurious houses, cars and partners, dedicating their lives to a noble cause etc is just not good enough for them, and all they ever wanted in their lives was to teach, teach teach. Strange, because I don't see many inspiring "live your dream" images showing teachers in classrooms. They all tend to show laptops on exotic beaches or fancy cars or pools in expensive hotels.

Anyway, even if someone that successful does love teaching (and I already find that very hard to believe), I still think he would rather teach people he knows for free or maybe some clever poor kids in some African village rather than complete strangers for $499.90 per course.

Even if someone is an impressive trader and is also interested in teaching (pretty impossible already), you have to ask yourself whether he CAN actually teach. Because many successful traders don't know exactly why they are successful. They will show you the rules, but even if you follow the rules to the letter you will not become like them. Because more often than not it's the breaking of the rules that makes them successful. They'll take that trade you wouldn't take and they'll pass on that trade you took, and the explanation for their actions won't be good enough because they themselves don't exactly know. You can't teach the feeling of the market. It's like expecting from Maradona to teach you how to play like him.

Do the above mean that any courses, seminars, books, signals etc you may buy are useless ? Of course not! ANYTHING may help you. A complete failure of a trader may have an idea that will make you successful because you can implement it much better than him. A beggar on the street may say something that will inspire your trading. Your 100yo grandma who hasn't seen a computer in her life may speak some words of wisdom that will forever define your trading. Just don't think that any sellers can teach you how to achieve 1000% returns in a year. If there is anyone who can teach you such a thing, he is certainly not going to take your money for his mentoring. ETA: Actually in one case I know of, a successful trader tried to teach a good friend of his. Not only he never took any fees, but he also provided him with €10,000 starting capital. His friend couldn't be successful however and he moved on to other things.
  • #200
  • Aug 15, 2017 1:58pm Aug 15, 2017 1:58pm
Already over 10 pages, so I think the answer has been given already! It is not necessary that the person who is good at guiding is good at doing it as well. The simplest example is sports, as you see many coaches becoming greats yet were ordinary or hardly recognized players. So, it is not necessary that if someone is good at guiding, he should be good at trading too. As sometimes a good teacher is bad trader due to emotions or various issues. So, it’s must not to mix both things.
1 trader viewing now