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  • #1,241
  • Oct 8, 2017 9:34am Oct 8, 2017 9:34am
Every person is different and his/her method of trading is different. if someone is successful by using one method it does not guarantee that method also produces the same or similar result for someone else. If someone does not like to explorer his method. Don't ask him again and again. Do your basic search have some MM and dive into the reaver it will teach you swimming.
don't predict direction, but dance with flow of water
  • #1,242
  • Oct 8, 2017 9:42am Oct 8, 2017 9:42am
It is really something to see the desperation on this site....people desperate for attention and for knowledge.

Either way you will all be happy to hear that FF has decided to honor The Riddler with a statue in front of their building. Luckily I was able to get a sneak peak of the statue.

Congrats Riddler.
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  • #1,243
  • Oct 8, 2017 9:50am Oct 8, 2017 9:50am
a big problem in trading and life is, you dont know really the other persons, only what they show you. facebook is full of many happy people with happy pictures with no happy life behind. same in trading, maybe even more extrem.

i like this quotation from de Montesquieu (sorry for my bad english grammar by translation :-) ): you will not be only happy, you will be more happy then other people. and thats so difficult , because we think the others are more happy then they are.

that works in life and in trading.
how many people i did see, who had good working trading systems and they did see other people in forums or real live mentioned extrem better wins (often fake, some real) and they did judge their own system from this time not so good and thought about new ways to earn much more and often even stoped trading their system .they already had all found what was neccesary and was on best way to get it, but dont learned the basics to hold the route and they could not see they was on the perfect way. so many switch from one system to others and dont learn one good. ofcourse there are often also the opposite people, who hold on system that have so small chance to win and invest so much time in this (most of this are arbitrage system, where you need much more investment in hardware and special connections and have many competitors.....and many other).

holding own route is most important, but extrem difficult to do, if not the basics learned from the beginning, to judge whats already good and whats worth to invest time in it. because on the end, time is the most important value you have in your life, you can spend only one time each second.
  • #1,244
  • Oct 8, 2017 10:08am Oct 8, 2017 10:08am
Quoting CrucialPoint
Everything one needs to know about this thread is in the first 30 pages.
Thanks for the info.
Cheers
  • #1,245
  • Oct 8, 2017 11:27am Oct 8, 2017 11:27am
But I'm a BADASS
I'm an outlier with BADASS advice.

Quoting dukas_trader
1 million in 10 years with very good chance/risk to get it.
Here, listen to some of my BADASS advice:
If you are aiming for 1Million in 10 years... You're an idiot.
If you live in Western Society your 1M don't mean shit.
If you live in 3rd world countries, only then your 1M (US dollars) will mean something significant.

Here in Australia if you have 1M, you can buy 2 properties (500k each) and rent them out.
You will have around $35k income for rent (this not including tax and maintenance cost of property).
You are a millionaire who is struggling to keep your head above water.
An average family expense can range from $60K-$100K yearly (in Australia).

If you put your $1M in the bank you can get 2% which is $20k a year.
Again, an average family expense can range from $60K-$100K yearly (in Australia).

In 10 years... Inflation rises and your $1M is also a lot smaller than the example I just presented.
Let's look back at your trading history... What have you done in the last 10years of trading?
You've done shit... I'll explain later below how I know.

If you divide $1M for the current median pay $50k, then you have only 13-15years for expenses (including inflation)
What are you going to do after then?

If you invested that $1M with financial experts, you are also an idiot.
Because the sole purpose of their business is to collect fees.
Good luck finding a financial expert who's best interest is to grow your money and not their own pockets.

How do I know who has $1M?
Because the ones who doesn't have $1M think it is a big number and is in awe when they talk about $1M.
The people who actually has the $1M knows the reality and it is nothing to be excited about.
Having $1M today doesn't allow you be financially free. And people who don't know that, don't have the $1M.
(this excluding if you live in a 3rd world country where the Dollar is higher in value)
Having $1M today still requires you to have a day job.
If your goal is to make $1M in 10 years... good luck

I actually spoke to someone and they told me their life story.
Back in 1980 they won the lottery $1.2M. They seek a financial adviser and they drew up a plan.
Back in the 1980 the house price was around $30k... average income was around $12K.
Back in those days property investment was not a hot topic.
Linear mathematical models implemented and fast forward to 2017 and they are receiving government support.
$1.2M is 100times their yearly income.
Your $1M today is 20times the average income.
Your $1M today will last you around 15years.
Your $1M in 10 years time will last you around 5years.

Quoting dukas_trader
1 million in 10 years with very good chance/risk to get it.
Nope. The chance and risk to attain it is very poor.
Because it is the wrong mentality to begin with.

Inserted Video
  • #1,246
  • Edited 2:59pm Oct 8, 2017 11:40am | Edited 2:59pm
Quoting CrucialPoint
But I'm a BADASS I'm an outlier with BADASS advice. {quote} Here, listen to some of my BADASS advice: If you are aiming for 1Million in 10 years... You're an idiot. If you live in Western Society your 1M don't mean shit. If you live in 3rd world countries, only then your 1M (US dollars) will mean something significant. Here in Australia if you have 1M, you can buy 2 properties (500k each) and rent them out. You will have around $35k income for rent (this not including tax and maintenance cost of property). You are a millionaire who...

the chance to get from 10.000 to 1 mill in ten years it very high, if you know what you do. i have not seen much fail, but i come from different point of life like you maybe (so i know most people from trained and banks inside, and most have earned million per years already in the fixed income job over the years), and also people with less money growing slow in 10 years was not a big problem if you have learned by math and market basics , because its near all calculated. but we do different style, when you have correct strategies (i think most strategies was never changed since more then 10 years and work like from first day ) it will even go by full automatic trading with small drawdown with some strategys in 10 years this way, if there are not extrem things happen, like extrem law changes are wars what need to change some parameters or dont trade some currencies and then all is perfect again.

for your first part: its correct, 1 mio is not much, but from 1 million it was very short time to get 5 million and so on (you dont stop by 1 mio), you invest more in startups and when you have some connection because of older businesses you have so many opportunities to invest, you often do less investing then would be possible.

best tip for you really is: start thinking outside the box. because you answered to my post was so inside a little box thinking, that it looks like you could not even think about, that you can start with more then 10.000, that you can trade much more with the million later, that this was only a simple example whats easy possible with good basic knowledge and little drawdown and extrem good chance/risk .and yes, you would need good math knowledge to can accept this fact ... for you chance / risk to get it will be very poor (your words), for other same can be extrem good chance - because of extrem different knowlegde and trading systems noone has same win/drawdown chance, thats normal: so your mistake is using your numbers to calculate other people, this cant work.

if trading would be not so easy and without stress and easy to calculate, i would not do it any more as hobby and would only let run the business investments. but it is fun and not many time to invest if you do it long time, and anyone needs hobbys, always holiday each day on beach is boring.
  • #1,247
  • Oct 8, 2017 12:06pm Oct 8, 2017 12:06pm
Quoting VEEFX
{quote} For those interested in researching this further to see if there is any edge + also to check what Rparm posted (which hour of the day is high/low etc), here's one of my VERY old indicators I used to use when I was involved in staring at charts for countless hours trying to predict where price would go or do or not do. Put it on M1 timeframe chart to see price behavior instead of HTF candle. I must reveal... It was the most frustrating encounter of my life during that era of my trading career... something I do NOT plan to revist at this juncture...
Thanks a lot! Up to date I've usually used the M-Candles indicator (I think it has been posted in one of the first pages, too.

Regarding your coding request ... Unfortunately I'm a bad mql4 programmer. But if I can do something for you with R I'll gladly do it.
  • #1,248
  • Oct 8, 2017 2:18pm Oct 8, 2017 2:18pm
Quoting VEEFX
{quote} I dont have the source code of this indicator or I would have done it myself :- (veefx in the filename only means I have used it in the past) {file}
Hi
Perhaps this will help you.
Cheers
Attached File(s)
File Type: mq4 GG-TimeBox.mq4   5 KB | 710 downloads
Don't limit yourself!!
  • #1,249
  • Oct 8, 2017 2:31pm Oct 8, 2017 2:31pm
  •  regme
  • | Joined Mar 2010 | Status: Planning to be like Warren Buffett | 115 Posts
"95% of the time price will close above or below the open."

Thanks CP, Today I got it. It took me 3+ Years.
  • #1,250
  • Oct 8, 2017 3:37pm Oct 8, 2017 3:37pm
  •  regme
  • | Joined Mar 2010 | Status: Planning to be like Warren Buffett | 115 Posts
Quoting VEEFX
{quote} Don't be shy. Lets hear it!
It is a learning exercise....one has to go through it. Dear all clues are in his statement.

Reg
  • #1,251
  • Oct 8, 2017 3:44pm Oct 8, 2017 3:44pm
From what I’ve read, am I to understand that the big “ a ha “ moment and the point of this thread is that London sets the high or low for the day with no other parameters considered? Just asking....
  • #1,252
  • Oct 8, 2017 4:30pm Oct 8, 2017 4:30pm
Quoting CrucialPoint
An average family expense can range from $60K-$100K yearly (in Australia). If you put your $1M in the bank you can get 2% which is $20k a year. Again, an average family expense can range from $60K-$100K yearly (in Australia).
Similar numbers here in NZ. $1M goes nowhere; you need $3M upward nowadays to live comfortably off (conventional) investments.
  • #1,253
  • Oct 8, 2017 4:46pm Oct 8, 2017 4:46pm
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IMPROVISE ADAPT OVERCOME
  • #1,254
  • Oct 8, 2017 4:49pm Oct 8, 2017 4:49pm
Hi
I didn't stil understand the point of this thread.
Yes, that statement is more or less correct but what from there?
It's too generic info to be of some sort of value.
How can you make an edge from that?
You need to know for example the direction etc...
Cheers
  • #1,255
  • Oct 8, 2017 4:54pm Oct 8, 2017 4:54pm
Quoting Merka
Hi I didn't stil understand the point of this thread. Yes, that statement is more or less correct but what from there? It's too generic info to be of some sort of value. How can you make an edge from that? You need to know for example the direction etc... Cheers
Do your time friend because there are no short cuts and the things you need to learn are the things nobody wants to talk about,all the best,GW.
IMPROVISE ADAPT OVERCOME
  • #1,256
  • Oct 8, 2017 5:20pm Oct 8, 2017 5:20pm
Quoting hanover
{quote} Similar numbers here in NZ. $1M goes nowhere; you need $3M upward nowadays to live comfortably off (conventional) investments.
The conventional investments always deliver low returns. Why would anyone expect anything else? For the big returns brains are needed and the will to take big risk without fear.
In fact you can make decent returns even with conventional investments if you posses the qualities which I mentioned.

For example if you bought US stocks for 1M during the financial crisis 2008-2009. you at least triple your money without any leverage and without lifting a finger. Just buy and hold.

For comparison - if you bought BTC at the same time even for 10K you'll never have to work another day for the rest of your natural life!!
Risk pays off!
  • #1,257
  • Oct 8, 2017 5:25pm Oct 8, 2017 5:25pm
I know all CP is saying is correct, all his post make a lot of sense, if you really do understand, its been a journey to figure it all out, once you do it is amazing!! keep up the good work CP...
  • #1,258
  • Oct 8, 2017 5:30pm Oct 8, 2017 5:30pm
Quoting josh11
I know all CP is saying is correct, all his post make a lot of sense, if you really do understand, its been a journey to figure it all out, once you do it is amazing!! keep up the good work CP...
So true friend, my first couple of years I devoured everything CP wrote on this forum, that in itself is a pearl for the juniors reading this.
IMPROVISE ADAPT OVERCOME
  • #1,259
  • Edited 5:41pm Oct 8, 2017 5:30pm | Edited 5:41pm
Quoting alphaomega
{quote} The conventional investments always deliver low returns. Why would anyone expect anything else? For the big returns brains are needed and the will to take big risk without fear. In fact you can make decent returns even with conventional investments if you posses the qualities which I mentioned. For example if you bought US stocks for 1M during the financial crisis 2008-2009. you at least triple your money without any leverage and without lifting a finger. Just buy and hold. For comparison - if you bought BTC at the same time even for 10K...
diversification is good, some millions in this company, some wins in real estate, some wins in other investments.
but first it need to have all good calculated , that you know at what stage of live is what strategy or diversification best.
this depends so extrem from person to person, because some are good tader (so invest more in trading), some have good connections (so invest more in start ups or good small companies and win big after selling this company to bigger companys later), some have extrem good payed jobs, some have many money some only small money to start with,....... all will change what to do best and is best chance/risk. with time you are in all this seperate parts very good situated and boost all to extrem levels, then its really earning by simple living. for some it needs years, for other decades to get it - the starting point is so different. and if you dont have a good backup (like rick family, much money, very good job) you need much luck or do you homework and learn the math and market basics step by step before your start your journey.
  • #1,260
  • Oct 8, 2017 5:33pm Oct 8, 2017 5:33pm
Quoting alphaomega
{quote} The conventional investments always deliver low returns. Why would anyone expect anything else? For the big returns brains are needed and the will to take big risk without fear. In fact you can make decent returns even with conventional investments if you posses the qualities which I mentioned. For example if you bought US stocks for 1M during the financial crisis 2008-2009. you at least triple your money without any leverage and without lifting a finger. Just buy and hold. For comparison - if you bought BTC at the same time even for 10K...
Spot on. There are those windows of opportunity right now with managed risk.....but if we restrict your world view to a narrow definition of trading...you just won't see them...or more specifically on this forum...read them. That is the lost opportunity associated with a closed mind. :-)
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