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Trading Myths and Some Forex Math

  • #201
  • Aug 31, 2018 5:52pm Aug 31, 2018 5:52pm
Quoting alphadude
{quote} you don't give up attention seeking loser; grumpy old man
Its funny you mention loser

Quoting alphadude
at the beginning of Jan; I had a 10% DD in one day; and I am still in the process of recovering it day in and day out

Quoting alphadude
Stop Losses are for rookies
You are a hopeless case. You clearly can't trade and can't prove you do but seem to have a chip on your shoulder for anyone that can trade. The pic you have in your profile about fundamental analysis says it all. Only a retard will dismiss the primary speculative driver in the market he is trading. I bet your charts look like an xmas tree all bling bling. Petty it doesn't help you be more successful at it.
  • #202
  • Edited 7:26pm Aug 31, 2018 6:54pm | Edited 7:26pm
Quoting giraffze
{quote} Dear gen, I agree some point of you.Could you make live calls for five more times ? Becos I notice your most recent calls are all lose and it isn't match your system which claimed winrate 60% ,and RR above 2:1. Best Regard.
Tks for tracking my calls I would invite u to do it together with me for the next 5-10 live calls which I Will then post all the calls openly for your pleasure. Perhaps with your participation and guidance I Will try to improve my WR >60%. .interesting I noticed you are also learning the breach and hold method and since we are using the same method we should do it together to sharpen each other skill and not aim for free lunch. Hehehe

Cheers
  • #203
  • Sep 4, 2018 10:27am Sep 4, 2018 10:27am
Getting back to Trading Myths......

 

  1. Price is "Everything"
  2. Trading is "Simple"
  3. MA crossover is a good way to pinpoint start of a Trend
  4. Divergence in 2+ indicator values is the holy Grail
  5. Realized PNL is everything. Floating PNL is just a bump
  6. We can see patterns on a chart before they are formed
  7. Range is a range until it isn't. Trend is a trend until it isn't
  8. Fixed Risk:Reward in pips is absolutely critical for positive expectancy
  9. Tick volume is real volume across the entire spot FX market
  10. Forums are so helpful :-)

Staying in my lane...
  • #204
  • Sep 4, 2018 6:22pm Sep 4, 2018 6:22pm
Damn! This thread is HOT! Whats with all the Fighting? LOL
You will learn the most from your losing Trades
  • #205
  • Sep 7, 2018 8:28am Sep 7, 2018 8:28am
I can add atleast two dozen to my list... but #10 usually prevails and trumps every other myth :-)
Staying in my lane...
  • #206
  • Sep 7, 2018 8:48am Sep 7, 2018 8:48am
You will get rich off Forex...myth #1.
  • #207
  • Sep 7, 2018 9:02am Sep 7, 2018 9:02am
Quoting Redbaron81
You will get rich off Forex...myth #1.

that's not a myth - i know guys making > 10k a week trading forex.
  • #208
  • Sep 7, 2018 9:43am Sep 7, 2018 9:43am
Sorry guys for being away that long. Will continue when I've finished my holidays...
  • #209
  • Sep 7, 2018 11:57am Sep 7, 2018 11:57am
Quoting EcoTrader
{quote} that's not a myth - i know guys making > 10k a week trading forex.
Yeah problem is its never going to be you...its like people winning the lotto. You always know "someone" who won...lol Best traders in the world make around 50-100% return a year...so unless your going in with a lot of money and knowledge its all a fantasy. Average Joe with his 1k has zero chance.
  • #210
  • Sep 7, 2018 12:01pm Sep 7, 2018 12:01pm
Quoting Redbaron81
{quote} Yeah problem is its never going to be you...its like people winning the lotto. You always know "someone" who won...lol
It will be one day. I am well on my way and through compounding I should reach that level in a decade. All I care about though is being able to do this full time and quit a job.
  • #211
  • Sep 7, 2018 12:04pm Sep 7, 2018 12:04pm
Quoting EcoTrader
{quote} It will be one day. I am well on my way and through compounding I should reach that level in a decade. All I care about though is being able to do this full time and quit a job.
Hey man 99% of people on this board want the same...I hope some do make it. Cant blame people for trying, I just feel bad when people lose their houses and ruin their lives in the process.
  • #212
  • Sep 7, 2018 12:26pm Sep 7, 2018 12:26pm
Quoting Redbaron81
{quote} Yeah problem is its never going to be you...its like people winning the lotto. You always know "someone" who won...lol Best traders in the world make around 50-100% return a year...so unless your going in with a lot of money and knowledge its all a fantasy. Average Joe with his 1k has zero chance.
They don't even come close to that.

Do the math. Wouldn't take long to own the GLOBE if someone made 100%

Starting with just a tiny $1000 account, then doubling it each year - in 20 years it would be $1,048,576,000.00

So you can imagine if a trader started instead with oh

Inserted Video
  • #213
  • Sep 7, 2018 12:46pm Sep 7, 2018 12:46pm
Quoting SunTrader
{quote} They don't even come close to that. Do the math. Wouldn't take long to own the GLOBE if someone made 100% Starting with just a tiny $1000 account, then doubling it each year - in 20 years it would be $1,048,576,000.00 So you can imagine if a trader started instead with oh https://www.youtube.com/watch?v=l91ISfcuzDw
Well obviously they don't make that every year...it's was an estimate. They have good and bad years...and no one can keep growing for 20 years...you need to withdraw money to live and pay your investors...Wich like I said it's all a fantasy. Very few extremely intelligent people with Iq 140+ are able to make a good living off forex. Never going to be average Joe...
  • #214
  • Sep 7, 2018 2:34pm Sep 7, 2018 2:34pm
Quoting Redbaron81
{quote} Well obviously they don't make that every year...it's was an estimate.
...
No. It was just a throw it out there line.

It's never obvious to others who are not sitting right in front of us.

What is obvious by history is a trader needs talent, hard work and a bit luck - not big money - to succeed.
  • #215
  • Sep 7, 2018 2:43pm Sep 7, 2018 2:43pm
Quoting SunTrader
{quote} What is obvious by history is a trader needs talent, hard work and a bit luck - not big money - to succeed.
That's are very low bar...You need A LOT more then that...And luck has zero to do with Forex or trading in general, I don't even know what you saying that for. lol
  • #216
  • Sep 7, 2018 2:59pm Sep 7, 2018 2:59pm
Quoting Redbaron81
{quote} That's are very low bar...You need A LOT more then that...And luck has zero to do with Forex or trading in general, I don't even know what you saying that for. lol
a lot more than that.

You maybe do. I sure didn't. I've been trading twice as long as I have been on this forum - which is already 12 years. How time flies.

But luck as in don't be brought into this world by a crack baby momma (not that anyone can choose their parents). And a few other things in life to work out right.
  • #217
  • Sep 7, 2018 3:36pm Sep 7, 2018 3:36pm
Quoting SunTrader
{quote} They don't even come close to that. Do the math. Wouldn't take long to own the GLOBE if someone made 100% Starting with just a tiny $1000 account, then doubling it each year - in 20 years it would be $1,048,576,000.00 So you can imagine if a trader started instead with oh https://www.youtube.com/watch?v=l91ISfcuzDw

I dont have a mini me...but I scare myself with the implications of my trading house.

worlds first TRILLIONAIRE.
  • #218
  • Sep 7, 2018 4:06pm Sep 7, 2018 4:06pm
I double it every 3 weeks tho so shit knows how far my broker will let me plunder
  • #219
  • Sep 7, 2018 5:07pm Sep 7, 2018 5:07pm
Quoting SunTrader
{quote} a lot more than that. You maybe do. I sure didn't. I've been trading twice as long as I have been on this forum - which is already 12 years. How time flies. But luck as in don't be brought into this world by a crack baby momma (not that anyone can choose their parents). And a few other things in life to work out right.
stop feeling sorry and just crush it. it should be enough for you to know others can. I am TELLING YOU you can...no doubt.

if theres a will theres a way,,,and theres always a funking will...so theres a way. DO IT!! figure it out for yourself and yours.
  • #220
  • Sep 8, 2018 8:08am Sep 8, 2018 8:08am
Quoting richyRich27
{quote} stop feeling sorry and just crush it...
WTF are you babbling about?

Better yet ignore my posts.
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