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No skill in trading!

  • #21
  • Edited 11:39am Feb 10, 2019 11:16am | Edited 11:39am
Quoting cat
{quote} I never said you were thick directly, as that would be a very foolish assumption to make about anyone, I was just making the point that, were there actually no skill in trading besides setting certain rules and being able to follow them, then we are all incredibly thick, for even monkeys can be taught to follow rules. As for your 20% per annum profit, there would be thousands of investors out there who would bite your hand off if you were able to guarantee them 20% profit, so yes, such a trading system, though I don't like to think of trading...
and what investing has to do with trading?
Whether you think you can, or you think you can't,you're right. H.F.
  • #22
  • Feb 10, 2019 12:11pm Feb 10, 2019 12:11pm
Quoting Simply-Me
{quote} and what investing has to do with trading?
Guys I'm looking for anyone who is willing to trade for. It a crazy idea, I know. My problem is I don't have time,
  • #23
  • Feb 10, 2019 1:56pm Feb 10, 2019 1:56pm
Quoting Simply-Me
{quote} and what investing has to do with trading?
What?
  • #24
  • Edited 3:35am Feb 11, 2019 3:22am | Edited 3:35am
What can we compare learning to trade with?

1: Learning to play the piano?
or
2: Trying to lose weight if your obese?
  • #25
  • Feb 11, 2019 4:38am Feb 11, 2019 4:38am
Quoting AlexImam
developing trading strategies only the way to keep survive in here , thanks for nice message , but the main problem we are willing to practice demo account after kicking off a live trading. demo not only for beginners but almost all kinds of traders.

demo is important , i agree , but what you think , the experience you took from demo always works in a live account ?
  • #26
  • Feb 12, 2019 3:13am Feb 12, 2019 3:13am
i have seen according to my trading experience, the result we get from demo , practically the profit ratio don't sustain when starting a live account, generally in demo there is no real money , we trade here freely , but in live we cant avoid emotions when trading. its a reality.
  • #27
  • Feb 12, 2019 3:50am Feb 12, 2019 3:50am
Quoting AdamCrist
i have seen according to my trading experience, the result we get from demo , practically the profit ratio don't sustain when starting a live account, generally in demo there is no real money , we trade here freely , but in live we cant avoid emotions when trading. its a reality.
emotions can be controlled by real trading discipline, so ensure this habit
  • #28
  • Feb 12, 2019 10:59am Feb 12, 2019 10:59am
Quoting DemoForever
{quote} Yep your right, I am a bit thick, no point me carrying on eh. And your right again about the rule following. Would you say following some simple entry, exit, money management trading system that makes 20% per year would be worth your time?
I guess your score is quite impressive, but where is the proof? I see, hear and read so much about performing by different traders but not too many 'talkers' have any accounts registered to prove that they really achieve mentioned results.
STTS
LongTerm-Emer-FX Return This Year: na
  • #29
  • Feb 12, 2019 11:14am Feb 12, 2019 11:14am
I think the only skill in trading it identifying the trades ahead of time... but i think once you done that then yes it becomes easier.
  • #30
  • Feb 12, 2019 11:16am Feb 12, 2019 11:16am
Quoting Axel04
{quote} Guys I'm looking for anyone who is willing to trade for. It a crazy idea, I know. My problem is I don't have time,
I would love to do that for you but....even I haven't lost money for last two years I don't feel the time has already come :-)
I have a few accounts, one just registered with FF to have third party confirming results - it's not big (less than $2,000) but hopefully will grow with time. All info is open to public. Unfortunatelly it is in PLN and though it has never dropped much below original deposit (if it happened it was at the very beginning) the performance isn't exceptional as the last year was rather difficult. I do not use SLs as I control risk by exposure and headging. All I can ask is keep watching, maybe one day you'll get interested. Cheers
STTS
LongTerm-Emer-FX Return This Year: na
  • #31
  • Feb 12, 2019 11:30am Feb 12, 2019 11:30am
20 percent a year!! That's a disgraceful 1.6% a month. Should be looking at no less than 5% a month.
  • #32
  • Feb 12, 2019 11:44am Feb 12, 2019 11:44am
Quoting Emerald-FX
{quote} I guess your score is quite impressive, but where is the proof? I see, hear and read so much about performing by different traders but not too many 'talkers' have any accounts registered to prove that they really achieve mentioned results.
Sorry. I wasn't refering to my account. I just meant most people coming into this game are not interested in 20% gains per year. They want that every month or even every week.
The point I'm trying to make is that most people could design their own system with just a few simple rules, that traded correctly could probably generate 20% per annum.
  • #33
  • Feb 13, 2019 12:37am Feb 13, 2019 12:37am
I personally don’t think any skill or hard and fast rule applies in the forex market in order to make the profit. One must keep a track of market conditions, look for the low spreads, access the pattern the currency pair is following before making a trade. There is no skill that works constantly as the market is fluctuating every second. I believe you must place a trade on the demo account first before directly placing it onto the live account. Or you can place a trade when the market is not much volatile.
  • #34
  • Feb 14, 2019 2:48am Feb 14, 2019 2:48am
"I always say that you could publish trading rules in the newspaper and no one would follow them. The key is consistency and discipline. Almost anybody can make up a list of rules that are 80 percent as good as what we taught people. What they couldn't do is give them the confidence to stick to those rules even when things are going bad."
Richard Dennis.
  • #35
  • Feb 15, 2019 5:44am Feb 15, 2019 5:44am
I'm taking up on theory right now and I do not know if it's ok, cause I know that only practice makes perfect.
  • #36
  • Feb 15, 2019 10:43am Feb 15, 2019 10:43am
Quoting LanaBanana
cause I know that only practice makes perfect.
Indeed!
  • #37
  • Feb 15, 2019 11:04am Feb 15, 2019 11:04am
Quoting LanaBanana
I'm taking up on theory right now and I do not know if it's ok, cause I know that only practice makes perfect.
Don't worry about it. In order to practice you need to learn the theory. Take your time, focus on studying and then, when you are feeling ready, begin practicing on a demo account.
  • #38
  • Feb 15, 2019 9:29pm Feb 15, 2019 9:29pm
From my limited experience it seems people follow rules, "trading frame work", or system. Then their experience kicks in to actually make it work. All of the experience acquired gives a person a, "sixth-sense", intuition or skill regarding the market. This experience is very hard or impossible to teach someone else.

My reasoning is the following:

  1. The market is always changing so any, "one size fits all" system or set of rules will fail. The system needs to massaged by experience to keep it relevant.
  2. I have been amazed at all of the different "systems" out there that people use. Some use only price action, volume and price action, fibs, Gann Limits, Elliot Wave Theory etc. Not only that, but they will defend to the death and attack anyone who dares to disagree with their system(s).
  3. Just as their are many systems there are even more indicators that people swear by.
  4. There are many "rookie" traders that experience early success only to flame out later.
  5. It is rare for a successful trader who teaches their system to post his trading results, but even more rare for any of his students to post theirs.

The above applies to technical analysis. I haven't investigated fundamental analysis enough, but it would seem the more experience someone has interpreting what the news etc. is the better chance he will interpret it correct. Anyway all of this is just my opinion.

  • #39
  • Feb 18, 2019 4:22am Feb 18, 2019 4:22am
Trading, according to me, requires both skills and practice. You can not say that you'll trade without mastering the do's and dont's of the trade. If that is not a skill, then I don't know what it is. However, even several years of experience are not enough to make you successful if you don't have the patience and mastery of any strategy.
  • #40
  • Feb 18, 2019 11:28am Feb 18, 2019 11:28am
It requires skills, patience, practice, time, a good trading plan, and so on, and so forth. There are many factors that affect a person's trading ability.
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