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  • #901
  • Nov 3, 2018 8:35pm Nov 3, 2018 8:35pm
Quoting jmn5611
Quoting billytt
{quote} Ha! What is not known unless you have been here is that in the USA we are more of a federation than an actual country. If you marry in Kansas, but get divorced in California you will be divorce raped. I live in a state where you have to be married five years or more to get divorce raped. In some states, it is ten years. Still in others, what you came into the marriage with is what you leave with, and everything you got together is split in half. So, one marriage lasted 2 years, the other lasted 4 years and 10 months.
...
Looks like you are the subject matter expert in this. Which US state is "rated" the best for divorce if you are 1) rich 2) broke ? Personally, I have never thought of a divorce to stem from money issues. I was flat broke when I got married 24 yrs ago and my wife was extremely wealthy and left everything behind with one promise for me to make....everything I make ever in the future is hers to keep. I have kept that promise till date. My entire paycheck goes to her account to manage our lifestyle.... a decision I have never ever repented ever. Ever year, on our anniversary, I remind her to "say the word" if she is ever unhappy and every penny is still hers to keep. There is no contest as I was born with nothing and I am 100% sure I will leave this world with nothing stacked up my butt :-)

Money becomes a THING only if you make it a THING.... just my humble opinion. Who knows, she might dump me next year on our 25th lol
Staying in my lane...
  • #902
  • Nov 3, 2018 8:48pm Nov 3, 2018 8:48pm
Quoting VEEFX
{quote}{quote} Looks like you are the subject matter expert in this. Which US state is "rated" the best for divorce if you are 1) rich 2) broke ? Personally, I have never thought of a divorce to stem from money issues. I was flat broke when I got married 24 yrs ago and my wife was extremely wealthy and left everything behind with one promise for me to make....everything I make ever in the future is hers to keep. I have kept that promise till date. My entire paycheck goes to her account to manage our lifestyle.... a decision I have never ever repented...
You are most likely a early Generation X member or maybe a late baby boomer. 25 years ago people were different than they are today. You definitely got lucky. As a trader, marriage is a lot like trading. It took me a long time to find a decent woman. For someone to leave all they have is a rare thing, and she definitely is a rare find. Now, which state is rated the best for divorce? I would vote for states where you go out with what you came with and all community assets get split. That is the most fair way to do it.

You are quite right about money, but the fact that money is actually a figment of our collective imaginations is something that is hard to grasp. Especially in the G08. Some say that we here in the US will find this out when we lose our reserve currency status, but no matter, we will just trade Euros instead!
If you are good at something, never do it for free--Joker
  • #903
  • Nov 3, 2018 9:41pm Nov 3, 2018 9:41pm
I am a man of advanced years and long business experience. The business that succeeds is one in which the principal players, owners, promoters top executives , give themselves to the business, completely . entirely , many times sacrificing family friends and normal social intercourse and occasionally their own physical and mental health as well. This doesn't mean that you can't succeed without doing so.Sometimes the creative and cognitive abilities of the individual entrepreneur are so overwhelming right that success is a cakewalk, ( an idea whose time has come). More frequently,in my opinion, the success of an enterprise is founded on the dedicated,persevering, almost addictive actions of the main players to bring home a winner . And similar to other addicts their actions are not grounded in personal choice but rather in to their single minded seemingly addictive personalities. Forex trading is a business. To answer the question posed in the title of this thread--yes you can, if you are willing to give yourself, using your best abilities mental and physical abilities to bring home a winner to the exclusion of many other activities in your life. Understandingly many if not most people are not. And if you are willing to make what I deem to be the required sacrifices THERE ARE NO GUARANTEES THAT IT WILL WORK. Just like any other business your success or failure depends on your dedication to the job, your creative and innovative solutions to complex trading problems. your ability to train yourself and a host of other significant obstacles that you must overcome. Whatever the answer is for you I wish you good luck and happy trading.

Well said; thank you for taking the time to post.
  • #904
  • Nov 3, 2018 10:22pm Nov 3, 2018 10:22pm
Trading for a living is no doubt very hard.
Indoubt many in here make it.
There is no such thing as a system only understanding HOW it works and applying great discipline, psychology and risk management.
For this though you have to understand bank targets, bank liquiidty, bank sentiment etc etc

Some semi successful retailers are amazing with risk and psychology and make it work after years and years of experience. Even not knowing all the bank information. But they sure make it hard for themselves. facts are 98% of education out there is rubbish for intraday traders and is such a scam. I hate telling people I trade forex for a living. They look at me with sympathy. Only big bank balance and years of consistent performance can eliviate that.
  • #905
  • Nov 4, 2018 1:05am Nov 4, 2018 1:05am
Quoting jmn5611
{quote} You are most likely a early Generation X member or maybe a late baby boomer. 25 years ago people were different than they are today. You definitely got lucky. As a trader, marriage is a lot like trading. It took me a long time to find a decent woman. For someone to leave all they have is a rare thing, and she definitely is a rare find. Now, which state is rated the best for divorce? I would vote for states where you go out with what you came with and all community assets get split. That is the most fair way to do it. You are quite right...
Luck has always been a strong influence in my life or maybe it is just good karma. I have yet to figure this one out :-)

US will never let USD lose the reserve currency status. There will most definitely have to be a World War III and lose before we let anyone take this status away. We have our military spending billions to modernize just to preserve this currency status imo as this status is the only thing that allows us to remain a world super power and control (manipulate?) other economies (hint: China, nafta, Oil, Gold deposits etc)
Staying in my lane...
  • #906
  • Nov 5, 2018 3:05am Nov 5, 2018 3:05am
Hopefully we won't be seeing such a thing (WW3 that is) anytime soon.
  • #907
  • Nov 5, 2018 3:43am Nov 5, 2018 3:43am
Quoting VEEFX
{quote} Luck has always been a strong influence in my life or maybe it is just good karma. I have yet to figure this one out :-) US will never let USD lose the reserve currency status. There will most definitely have to be a World War III and lose before we let anyone take this status away. We have our military spending billions to modernize just to preserve this currency status imo as this status is the only thing that allows us to remain a world super power and control (manipulate?) other economies (hint: China, nafta, Oil, Gold deposits etc)
The dollar has been losing its reserve status for some time and China and Russia dealing outside of dollars. The EU are also pushing harder for reserve status but they have their own issues slowing their progress. All you need to do is look at this chart to see the internal rot, in addition to political motivations, that's decaying its status.
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  • #908
  • Nov 5, 2018 7:19am Nov 5, 2018 7:19am
Quoting EcoTrader
{quote} The dollar has been losing its reserve status for some time and China and Russia dealing outside of dollars. The EU are also pushing harder for reserve status but they have their own issues slowing their progress. All you need to do is look at this chart to see the internal rot, in addition to political motivations, that's decaying its status. {image}
I understand. If only the folks running the white house could understand how to read a chart :-(
Staying in my lane...
  • #909
  • Nov 5, 2018 7:22am Nov 5, 2018 7:22am
Quoting VEEFX
{quote} I understand. If only the folks running the white house could understand how to read a chart :-(
I don't think they care. They keep kicking the can down the road for the next administration. That is until they run out of road.
  • #910
  • Nov 5, 2018 10:25pm Nov 5, 2018 10:25pm
As a Yank, this is an issue that keeps me up at night. I really worry about the deficit. Actually, what worries me more is there is no political will to stop it. About two thirds of the budget is on spending autopilot. Medicare, medicaid and making debt payments by law, must be paid. The rest of the budget is discretionary. Unfortunately, in my opinion, we Yanks like our government goodies and will promptly vote out any politician who tries to take them away so the political incentive is to, "kick the can down the road". Eventually, I am guessing taxes will have to be raised substantially.

About 4 years ago a professor of economics became the head of the House Budget Committee. When asked about the deficit spending he said the US had about 10 years left before a point is reached where debts cannot be paid (I don't remember him saying anything about raising taxes). So there is roughly 6 years left.
  • #911
  • Nov 5, 2018 10:32pm Nov 5, 2018 10:32pm
Quoting EcoTrader
{quote} I don't think they care. They keep kicking the can down the road for the next administration. That is until they run out of road.
To who, you compare this, hmmm? Japan, UK, China, EU, Russia the list goes on, debt accumulates. It surrounds us, binds us. EURUSD where does all the money come from? GBPJPN, same thing? Debt, the whole monetary system is built on debt. Who doesnt have debt? Debt is the only way for the system sustain itself. For if no debt existed no system would exist. Its a debt paradox. The more debt that accumulates the more wealth that is created.
Learn, a forex trader must, unlearn and relearn he will.
  • #912
  • Nov 6, 2018 1:32am Nov 6, 2018 1:32am
Quoting COGSx86
{quote} To who, you compare this, hmmm? Japan, UK, China, EU, Russia the list goes on, debt accumulates. It surrounds us, binds us. EURUSD where does all the money come from? GBPJPN, same thing? Debt, the whole monetary system is built on debt. Who doesnt have debt? Debt is the only way for the system sustain itself. For if no debt existed no system would exist. Its a debt paradox. The more debt that accumulates the more wealth that is created.
True. Supply and demand. Money can't be created. It's has to be paid for. When someone pays. Someone else gets paid. It's a cycle. Unfortunately. I doubt those bond buyers will ever see the light of their money.
You're going to pay a price for every bloody thing you do and don't do
  • #913
  • Nov 6, 2018 8:50am Nov 6, 2018 8:50am
Quoting COGSx86
{quote} To who, you compare this, hmmm? Japan, UK, China, EU, Russia the list goes on, debt accumulates. It surrounds us, binds us. EURUSD where does all the money come from? GBPJPN, same thing? Debt, the whole monetary system is built on debt. Who doesnt have debt? Debt is the only way for the system sustain itself. For if no debt existed no system would exist. Its a debt paradox. The more debt that accumulates the more wealth that is created.
You sound like you don't know who has the biggest debt globally. Everyone has debt but who is able to pay off that debt is an entirely different matter. USA holds 31% of world debt or approximately 19 trillion. Do you think usa has the means to pay this off. All they are doing is kicking the can to the next administration. Eventually there won't be any road left to kick it down.
Attached Image (click to enlarge)
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  • #914
  • Nov 6, 2018 1:32pm Nov 6, 2018 1:32pm
Quoting EcoTrader
{quote} You sound like you don't know who has the biggest debt globally. Everyone has debt but who is able to pay off that debt is an entirely different matter. USA holds 31% of world debt or approximately 19 trillion. Do you think usa has the means to pay this off. All they are doing is kicking the can to the next administration. Eventually there won't be any road left to kick it down. {image}

Considering the US's GDP is pretty much at the same level as their debt, this photo can be very misleading when not considering the colours for each country.

The US isn't even in the top 10 for Debt to GDP and has the largest GDP in the world.

The kick the can down the road statement is what main stream economists use to attract attention.
Attached Image(s) (click to enlarge)
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Learn, a forex trader must, unlearn and relearn he will.
  • #915
  • Nov 6, 2018 3:51pm Nov 6, 2018 3:51pm
Quoting COGSx86
{quote} Considering the US's GDP is pretty much at the same level as their debt, this photo can be very misleading when not considering the colours for each country. The US isn't even in the top 10 for Debt to GDP and has the largest GDP in the world. The kick the can down the road statement is what main stream economists use to attract attention. {image} {image}
Actually it is number 10 in the debt to GDP list but that list is smoke and mirrors. For example, Greece is second in the list and their Gdp is 200 billion while the USA is over 21 trillion. The interest on the USA debt alone is larger than Greece's Gdp. Greece is also operating a current account surplus while the USA is operating a twin deficit. They are spending more than they earn and now with tax cuts that twin deficit will chew even more into their lending requirements. To put the scale of it into perspective, its approximately $70,000 for every person in the USA. Why do you think economists are "attracting attention" to this? Its not because they want self indulgence, they are highlighting an escalating problem that will become too big to solve. Its estimated that interest alone on this debt will hit 770bln by 2027. That's almost as much as the debt is increasing by every year.
  • #916
  • Nov 6, 2018 5:55pm Nov 6, 2018 5:55pm
Quoting EcoTrader
{quote} Actually it is number 10 in the debt to GDP list but that list is smoke and mirrors. For example, Greece is second in the list and their Gdp is 200 billion while the USA is over 21 trillion. The interest on the USA debt alone is larger than Greece's Gdp. Greece is also operating a current account surplus while the USA is operating a twin deficit. They are spending more than they earn and now with tax cuts that twin deficit will chew even more into their lending requirements. To put the scale of it into perspective, its approximately $70,000...

De-escalating this thread, we are. Learn to count we must.
Attached Image (click to enlarge)
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Learn, a forex trader must, unlearn and relearn he will.
  • #917
  • Dec 28, 2018 8:30pm Dec 28, 2018 8:30pm
Almost a decade and i'm still not profitable, on the bright side i only lost about 150$.....and a decade of my life ...
i lose money for a living
  • #918
  • Dec 29, 2018 2:26am Dec 29, 2018 2:26am
hi

well I am profitable most of the time why cause a know Forex and trade only when his momentum after 15 pips profit do take most all the profit and let run very important not to be too greedy, remember the FOREX market will give you so much ,then will be a very big retracement on and on very big stress grrr that why take my profit and wait for another set up if not his always tomorrow .
  • #919
  • Dec 29, 2018 6:28am Dec 29, 2018 6:28am
It might sound harsh but I think you need to work hard to FAIL. 90% of "tradrs" must be complete idiots.

Now the other 10% have to deal with them for a while, that's why the learning curve is so steep for EVERYONE. Personally I wasted several years gambling with high leverage...but at least I knen I was gambling, so I had some fun.

Learn to ignore EVERYONE... no matter how confident they look.

Learn programming, trust your own statistics, practice mindfulness...it helps to remove greed and so on..
  • #920
  • Mar 22, 2019 9:43am Mar 22, 2019 9:43am
Quoting newbegger
Most important to my trading success was attitude. When I first started trading I thought about making money. I seemed to make some at first, then give it all back in a few trades because I was pushing for the holy grail, the magic 1% per day. I did not become a profitable trader until I stopped thinking about money and instead focused on flawless execution. When I have a high probability trade, I take it. When I have a "maybe" trade, or even better, when I see a profitable trade setting up but not there YET, I pass. In the old days I would jump...
Great post, very helpful to newer traders like myself. After I also came to the conclusion that focusing on money was detrimental to my progress to being profitable, I since reduced my account balance to a simple £100 and rather than fund the balance I am saving my money until I have the discipline and mindset right.

Thanks again.
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