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has anyone EVER seen a successful trader/trading system?

  • #161
  • Sep 20, 2019 12:03am Sep 20, 2019 12:03am
Quoting NrSLionHeart
There is one thing that no one touches here: below a certain IQ the potential trader stands no chance to make a profit? What is IQ as currently measured? It is pattern recognition, which guess what? - it is exactly what you need to make some mo' in this industry. I do not have a definitive figure for this but considering that based on what you say 99% of traders do not make money I assume that you must be in the first 1% - which means that you need to have an IQ higher than 136 or something...
What a load of bollocks. Intelligent people don't necessarily make better traders. Already been plenty of studies on this.
I remember one where they tested University students with high IQ against rats, and the rats outperformed.
But people with higher IQ may make better coders, which might enable them to make an algo to trade for them.
  • #162
  • Sep 20, 2019 1:56am Sep 20, 2019 1:56am
Quoting papamax
{quote} There are dozens of brokers offering more than 1:30... they are just not on the EU! And no EU laws will protect you there, who needs the government as babysitter anyways! Australian Regulated brokers are very good options...
Still too much "babysitting" in Australia for me. I am looking for a broker with absolutely no regulation who doesn't even need to look after my deposit properly. With 1:1m leverage. Only then will I stand a chance of winning.
Hypocrite lecteur, mon semblable, mon frere!
  • #163
  • Sep 20, 2019 2:32am Sep 20, 2019 2:32am
Quoting BubaYaga
{quote} What a load of bollocks. Intelligent people don't necessarily make better traders. Already been plenty of studies on this. I remember one where they tested University students with high IQ against rats, and the rats outperformed. But people with higher IQ may make better coders, which might enable them to make an algo to trade for them.
Statistics say otherwise:
http://www.unz.com/jthompson/the-intelligent-investor/

Of course there is always the political bias. I do not want to get into a debate here but please consider that there are a lot of people that have a very good life riding the wave of political correctness and which won't admit that smarter people are better at basically everything than less smart people (let's put it this way) .

You must be idiot to think that rats can outperform a top 1% intelligence human any any cognitive task ...
  • #164
  • Sep 20, 2019 2:38am Sep 20, 2019 2:38am
Quoting tinnitus
{quote} Still too much "babysitting" in Australia for me. I am looking for a broker with absolutely no regulation who doesn't even need to look after my deposit properly. With 1:1m leverage. Only then will I stand a chance of winning.
Can anyone point me to an Australian broker that accepts EU citizens and offers them 1:400 leverage?

I have the feeling that I am going to make some real mo' if I can get hold of one such account!!!
  • #165
  • Sep 20, 2019 2:43am Sep 20, 2019 2:43am
Quoting NrSLionHeart
{quote} Can anyone point me to an Australian broker that accepts EU citizens and offers them 1:400 leverage? I have the feeling that I am going to make some real mo' if I can get hold of one such account!!!
Ic Markets australia i have 1:500 leverage,they are good and fair
Ic Markets Seychelles
  • #166
  • Sep 20, 2019 2:47am Sep 20, 2019 2:47am
Quoting tinnitus
{quote} Still too much "babysitting" in Australia for me. I am looking for a broker with absolutely no regulation who doesn't even need to look after my deposit properly. With 1:1m leverage. Only then will I stand a chance of winning.
and when you reach a lot money account and you try whitdraw,and they will wont giving you as they are no regulated,what you do than??
try this "FxGlory" broker,here you can have 1:3000 leverage and they give you 50% bonus on each deposit
  • #167
  • Sep 20, 2019 2:54am Sep 20, 2019 2:54am
Quoting pridolfx
{quote} Ic Markets australia i have 1:500 leverage,they are good and fair Ic Markets Seychelles
Got it man, and thanks !!! You are a real life saviour!!!
  • #168
  • Sep 20, 2019 3:14am Sep 20, 2019 3:14am
Quoting NrSLionHeart
{quote} Statistics say otherwise: http://www.unz.com/jthompson/the-intelligent-investor/ Of course there is always the political bias. I do not want to get into a debate here but please consider that there are a lot of people that have a very good life riding the wave of political correctness and which won't admit that smarter people are better at basically everything than less smart people (let's put it this way) . You must be idiot to think that rats can outperform a top 1% intelligence human any any cognitive task ...
that thread is about stock selecting for long term investing you silly drongo - can you even read?
  • #169
  • Sep 20, 2019 3:15am Sep 20, 2019 3:15am
Quoting tinnitus
{quote} Still too much "babysitting" in Australia for me. I am looking for a broker with absolutely no regulation who doesn't even need to look after my deposit properly. With 1:1m leverage. Only then will I stand a chance of winning.

As some have pointed out, FXGlory it is then!!
  • #170
  • Sep 20, 2019 3:19am Sep 20, 2019 3:19am
Quoting BubaYaga
{quote} that thread is about stock selecting for long term investing you silly drongo - can you even read?
Correct, but the same ports to forex trading. I did not quickly find an article that studies exactly this so I posted what I found.

if you think that a "stupid" person trades as well as an "intelligent" person then you are delusional!!
  • #171
  • Sep 20, 2019 3:31am Sep 20, 2019 3:31am
Quoting NrSLionHeart
{quote} Can anyone point me to an Australian broker that accepts EU citizens and offers them 1:400 leverage? I have the feeling that I am going to make some real mo' if I can get hold of one such account!!!
XM Australia offers a leverage of 500.
https://www.xm.com/au/
  • #172
  • Sep 20, 2019 3:35am Sep 20, 2019 3:35am
Quoting NrSLionHeart
There is one thing that no one touches here: below a certain IQ the potential trader stands no chance to make a profit? What is IQ as currently measured? It is pattern recognition, which guess what? - it is exactly what you need to make some mo' in this industry. I do not have a definitive figure for this but considering that based on what you say 99% of traders do not make money I assume that you must be in the first 1% - which means that you need to have an IQ higher than 136 or something...

Obviously you don't need a IQ of 136 to be a good trader, trial and error as pointed out will get you very far in this world with much smaller IQ than that. But certainly there is probably a cut off level, for the US military it is around 85 IQ, less than that and they won't hire you. If the US military won't hire you, you have a lot more problems to think about than becoming a successful trader. Trading is a very emotional game, so controlling your emotions might be a lot more useful than a very high IQ. I know extremely high IQed people who are emotional dummies and tend to make very stupid decisions throughout life. So, IQ surely can help but it is not the only determining factor for success in life.

https://www.indy100.com/article/iq-c...cience-7857396

As for political correctness you are right, it is insane nowadays... People would rather listen to lies than face the truth when it might hurt a bit, we are all different from each other with different set of skills and abilities, some are better at certain things others are better at others. Everyone agrees that Einstein was a genius and that Usain Bolt is a freak physically but people struggle to come to that same agreement on the other side of the spectrum, they prefer to say, if you work hard enough you can be Einstein or Bolt and the answer is clearly NO for most people.
  • #173
  • Sep 20, 2019 3:36am Sep 20, 2019 3:36am
Inserted Video
  • #174
  • Sep 20, 2019 3:38am Sep 20, 2019 3:38am
THOSE WHO HAVE 100 % STRATEGY NEVER DO AND THOSE DO DON'T ALWAYS DO UNTIL TILL THEY CRACK IT THEN THEY VANISH IN THIN AIR THOUGH THERE ARE VERY FEW GOOD SOULS BUT DUE TO LACK OF TIME AND OTHER PERSONAL ISSUES EVEN IF THEY WANT TO THEY CANNOT BUT THIS LOGIC OF " THOSE WHO HAVE 100 % STRATEGY NEVER DO AND THOSE DO DON'T ALWAYS DO UNTIL TILL THEY CRACK IT THEN THEY VANISH IN THIN AIR " STANDS TRUE
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  • #175
  • Sep 20, 2019 4:57am Sep 20, 2019 4:57am
Quoting pridolfx
{quote} and when you reach a lot money account and you try whitdraw,and they will wont giving you as they are no regulated,what you do than?? try this "FxGlory" broker,here you can have 1:3000 leverage and they give you 50% bonus on each deposit
Yes indeed. I was being a little bit sarcy in the morning! Regulation is a good thing and government babysitting isn't always a bad thing. There is always a pay off but in this case I'd prefer to be in Europe and not be murdered than have the freedom to roam Australia murdering folk only to eventually get murdered. But to each their own I suppose.

For retail traders to not have negative balance protection while almost all of their trades are taken on by the MM is completely ridiculous. It is especially ridiculous when the liquidity providers are either big banks too big to fail or central banks themselves. When the whole banking system relies on government intervention either by way of permanent subsidy (protection of bank accounts) or as per the last few days the injection of liquidity into the overnight market, then it is breaching the point of absurdity.

It is telling that MMs in Europe look for higher margin as collateral now they need to take on the risk. They are probably better at assessing such risk (and are more diversified) than the average retail trader.

Apologies for the ramble. Not sure it even qualifies as a rant, this.
Hypocrite lecteur, mon semblable, mon frere!
  • #176
  • Sep 20, 2019 7:25am Sep 20, 2019 7:25am
Quoting BubaYaga
https://www.youtube.com/watch?v=KP5wvubJC14
rubbish like that we can only see on russia today tv channel ))))
  • #177
  • Edited 9:38am Sep 20, 2019 9:13am | Edited 9:38am
Quoting tinnitus
{quote} Yes indeed. I was being a little bit sarcy in the morning! Regulation is a good thing and government babysitting isn't always a bad thing. There is always a pay off but in this case I'd prefer to be in Europe and not be murdered than have the freedom to roam Australia murdering folk only to eventually get murdered. But to each their own I suppose. For retail traders to not have negative balance protection while almost all of their trades are taken on by the MM is completely ridiculous. It is especially ridiculous when the liquidity providers...

You've got a point and yes, regulation is not always bad... What I would hate to see in Europe is them chasing brokers abroad who are offering services to Europeans who want to play with higher leverage the same way the USA does to brokers who try to offer services to americans. Freedom of choice should be kept for sure, let the ones who want to go abroad without protection do it.

In the Alpari scenario, where the broker went bankrupt after the swiss crash. I didnt lose money, I didn't go into negative balance as I was not trading the swiss but i had my money stuck in the broker (high 5 figures amount) for 12 months until the FCA paid up... Luckly i was just under the 50k threashold. So trading higher leverage, although doesn't protect you from negative balance it does protect you from a broker going belly up and your money being stuck for months if not years.
Say I trade with 100k... I would rather deposit 10k, leave 90k in the bank and trade with leverage than deposit 100k at the broker, be outside the scope of FCA or EU protection in terms of total balance and risk the broker going bankrupt... if it happened once it can happen again! So protection can be a double edged sword, sometimes you are better off doing it yourself. Australia offers enough regulation for me to feel safe enough about the brokers and still play with leverage while protecting my capital from a broker bankruptcy. And I tell you what, if it happened to Alpari UK (huge at the time) and FXCM (which was saved last minute by a larger group) it can happen to any broker.

I guess we have derailed from the original thread idea though
  • #178
  • Sep 20, 2019 9:16am Sep 20, 2019 9:16am
Oh... And then there is one more thing... If you look hard enough you will find ASIC regulated brokers who offer Negative Balance Protection and Higher Leverage Quick tip
  • #179
  • Sep 20, 2019 10:51am Sep 20, 2019 10:51am
Hi josephcom,
could you please post all accounts/trader profiles, that were recommended so far, in your first post?!
Then we could see if it was worth to start this thread ; )

Btw new questions: Could anyone recommend a profitable EA signal, that is older than 3 months?!
Thx
  • #180
  • Sep 20, 2019 11:10am Sep 20, 2019 11:10am
Quoting papamax
{quote} Say I trade with 100k... I would rather deposit 10k, leave 90k in the bank and trade with leverage than deposit 100k at the broker, be outside the scope of FCA or EU protection in terms of total balance and risk the broker going bankrupt... if it happened once it can happen again! So protection can be a double edged sword, sometimes you are better off doing it yourself. Australia offers enough regulation for me to feel safe enough about the brokers and still play with leverage while protecting my capital from a broker bankruptcy. And I...
I think maybe you could qualify as a special investor in Europe to get more leverage but hassle obviously which regulation usually brings.

What you have said is very interesting. You are maybe not too far away from the Kyle Bass level of investor. Next time you should short the stock of the broker holding your cash!

I think the regulation might actually reduce the likelihood of broker bankruptcy. Lending people crazy money to trade crazy instruments then requesting money they don't have is going to lead to big losses eventually. Just like sub-prime mortgage lending but worse.

Not sure if you'd agree, but maybe as a compromise brokers should be forced to offer negative balance protection and if they wish to they can offer crazy leverage too but they must get the customer to prove he has the sufficient funds to cover what the broker would require as margin in the NBP account.
Hypocrite lecteur, mon semblable, mon frere!
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