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Real or Algo

  • #741
  • Feb 25, 2021 6:03pm Feb 25, 2021 6:03pm
Quoting GEfx
{quote} In recent history, markets melt down because humans temporarily lost control of the algos. The rest of the time, humans control markets, and always have. Market theory explains why greed doesn't lead to meltdowns. And meltdowns are rare in the forex because central banks and national treasuries are in control (the SNB notwithstanding).
The central banks and national treasuries only make one major trade a day, outside that - they struggle to remain in control.
Trading thin liquidity at the boundary of the charts
  • #742
  • Feb 25, 2021 6:08pm Feb 25, 2021 6:08pm
Quoting GEfx
{quote} In recent history, markets melt down because humans temporarily lost control of the algos. The rest of the time, humans control markets, and always have. Market theory explains why greed doesn't lead to meltdowns. And meltdowns are rare in the forex because central banks and national treasuries are in control (the SNB notwithstanding).
With all of those people in control they certainly appear to be able to control the markets well, almost at times like its a mathematical Algorithm.
Let’s hope for instance the EU never have that amount of power... imagine 27 countries all sitting down, breaking bread, and agreeing on the price of the euro..never going to happen.
All want a piece of the action.
They demonstrate to me exactly why it has to be a one source Algo, but I do respect your point of view and exactly why this thread was initially opened up.
  • #743
  • Feb 25, 2021 6:20pm Feb 25, 2021 6:20pm
Quoting GEfx
Just skimmed this thread...very interesting material. Couple of thoughts: 1. Janet Yelled, the US Secretary of the Treasury, is responsible for currency valuations of the US$. She is not an algo. 2. Jerome Powell, the Chairman of the US Federal Reserve, uses his powers to maintain an orderly forex exchange for the US$. Jerome and his army of fed traders are not algos. 3. Tier 1 banks (along with tier 2 and 3 banks), perform about 75% of US$ transactions, and are required by the Fed to do so in an orderly fashion. While these banks make use of algos,...
This to me is the best narrative that's in line with my understanding. T1 sets the boundaries within which T2 and 3 conduct their business. The first time I witnessed a global financial crisis where all the CB's had to act in unison to return the markets to normalcy is when USDJPY fell below 100 yen in the 90s.

However, from a trading perspective I see no reason for it except to focus on the math that yields direct impact on the alpha over the market. I cannot have a situation where the math and narrative compete for which is more correct or the absence of narrative to negate the math. Exception is made only under extenuating situation like the SNB incident.
Know what you trade
  • #744
  • Edited 6:40pm Feb 25, 2021 6:25pm | Edited 6:40pm
Quoting almo
{quote} Hi RickM When your stating {quote} - are you specifically calling out one pair? Or this applies to all pairs? Thanks, Almo
Hi Almo,

Yesterday on EURUSD, there was One large order of 3000 units and about 8 large orders averaging about 1000 units.
On USDJPY, there was two large orders at about 4500 units 20 minutes apart and about 14 large trades about 700 units.
These are for volume per 1 minute bars.

Outside these orders, it’s just appears to be action of thousands of smaller traders doing the work.

So it seems the major players move in to trade when it suits their strategy, but they do it big and quick.
Trading thin liquidity at the boundary of the charts
  • #745
  • Feb 25, 2021 8:15pm Feb 25, 2021 8:15pm
Tape reading was invented by Edward A Callahan that's been used since 1867. If anyone interested in this price and volume analysis Google "tape reading".
Know what you trade
  • #746
  • Feb 25, 2021 8:48pm Feb 25, 2021 8:48pm
Quoting BWilliam
Tape reading was invented by Edward A Callahan that's been used since 1867. If anyone interested in this price and volume analysis Google "tape reading".
Tape reading allows us to see the footprints of large players actions. The issue with forex markets is we only view their actions on the currency markets by viewing copy trades reflections in the Futures market.
We see only a reflection of these trades but the evidence of their intend is still compelling. It’s accurate enough to allow us to have an edge when trading because we know whether they are buying or selling.
Trading thin liquidity at the boundary of the charts
  • #747
  • Feb 25, 2021 9:05pm Feb 25, 2021 9:05pm
Quoting RickM
Tape reading allows us to see the footprints of large players actions. The issue with forex markets is we only view their actions on the currency markets by viewing copy trades reflections in the Futures market. We see only a reflection of these trades but the evidence of their intend is still compelling. It’s accurate enough to allow us to have an edge when trading because we know whether they are buying or selling.
Among the many traditional technical analysis available, tape reading is the most popular and imv the more sensible and logical. Jesse Livermore comes to mind. Strange that FF does not have much content on tape reading.
Know what you trade
  • #748
  • Feb 26, 2021 3:40am Feb 26, 2021 3:40am
the real reason i started to open my eyes to the algo is not about the precision the market stops at certain levels and targets (that for me could have done as well by humans), for me the proof is in the real micro-charts, not the 1m, but the 10tick:
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pure ordered waves, impossible for every human to reproduce
  • #749
  • Feb 26, 2021 5:46am Feb 26, 2021 5:46am
Thanks for posting the indicator Rick,
hope some of the other members managed to grab it before you removed it....
  • #750
  • Feb 26, 2021 6:19am Feb 26, 2021 6:19am
Quoting RickM
BWilliams, all you needed to do was ask. Here is a trade I took tonight using the footprint indicator via Future's data, I am looking for the edge of thin liquidity when large orders clean out most ready available limit orders. Here was the wipe out and of course the Sell trade was a easy setup. Golden Rule 1 - Limit order liquidity is bloody thin - don't believe the bullshit about deep liquidity Silver Rule 2 - Futures Volume is a reflection of Currency Markets I need about 15 of these a day and my daily profit target is reached. {image}...
Good that you show how you use your paid volume data to scalp. There're plenty of YouTube videos on tape trading similar to how you trade. I don't remember seeing any thread on FF that trade tape reading. Tape trading has got nothing to do with this single algo idea that paint our chart. Anyway, I told you many times that I don't scalp.
Know what you trade
  • #751
  • Feb 26, 2021 7:04am Feb 26, 2021 7:04am
Quoting BWilliam
{quote} Good that you show how you use your paid volume data to scalp. There're plenty of YouTube videos on tape trading similar to how you trade. I don't remember seeing any thread on FF that trade tape reading. Tape trading has got nothing to do with this single algo idea that paint our chart. Anyway, I told you many times that I don't scalp.
Yes it does -

The Algo in my theory is only a maintenance worker allowing price to expand to the limits of workable spread. It controls expansion allowing the spreads to be maintained allowing the market to function efficiently.
It uses speed of the market to create micro gaps - this pulls price backwards allowing a workable market that tricks traders into thinking they are trading a vast deep pool of liquidity.

Its just an illusion to trick the uninformed traders.

Here is where the tape reading comes into it. Price moves primary through a price channel that is very narrow due to an limited amount of passive orders being present at any one time - The figures you see in the footprint (since deleted) actually pinpoints on many occasions the exact second or minute it is activated to perform its function. Sometimes the figures are large orders, other times the Algo.

All the Maths in the world won't allow you to see it with your own eyes working - unless you can see the real live numbers on a tape.

You don't scalp J? - I think you are missing something important - Market Speed
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Trading thin liquidity at the boundary of the charts
  • #752
  • Feb 26, 2021 7:33am Feb 26, 2021 7:33am
Quoting BWilliam
{quote} Among the many traditional technical analysis available, tape reading is the most popular and imv the more sensible and logical. Jesse Livermore comes to mind. Strange that FF does not have much content on tape reading.
I think one of the possible reasons forex traders don't bother about it is the fact that the forex market is a decentralized one (unlike stocks).
  • #753
  • Edited 8:44am Feb 26, 2021 7:59am | Edited 8:44am
Quoting RickM
Yes it does - The Algo in my theory is only a maintenance worker allowing price to expand to the limits of workable spread. It controls expansion allowing the spreads to be maintained allowing the market to function efficiently. It uses speed of the market to create micro gaps - this pulls price backwards allowing a workable market that tricks traders into thinking they are trading a vast deep pool of liquidity. Its just an illusion to trick the uninformed traders. Here is where the tape reading comes into it. Price moves primary through...
I know one thing for certain, there's no one who has written anything that demonstrate their knowledge how this single algo function. Look at GBPUSD today that fell from Aussie open. As I wrote in my earlier post, the question is "where does this alpha sit" in today's intraday market or last 4hours? Same question every trading day. This question can only be answered by the trader who has true knowledge of this single algo.
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Know what you trade
  • #754
  • Feb 26, 2021 8:23am Feb 26, 2021 8:23am
Quoting RickM
{quote} Tape reading allows us to see the footprints of large players actions. The issue with forex markets is we only view their actions on the currency markets by viewing copy trades reflections in the Futures market. We see only a reflection of these trades but the evidence of their intend is still compelling. It’s accurate enough to allow us to have an edge when trading because we know whether they are buying or selling.
Hi Rick, thanks for sharing your knowledge. Given the extreme trend moves we have had in the past couple of days, does your reversal method still work fine (talking about footprint data)? I am guessing it would be OK if only aiming for a handful of points (3-5 at a time perhaps).
  • #755
  • Feb 26, 2021 8:32am Feb 26, 2021 8:32am
Quoting BWilliam
{quote} I know one thing for certain, there's no one who has written anything that demonstrate their knowledge how this single algo function. Look at GBPUSD today that fell from Aussie open. As I wrote in my earlier post, the question is "where does this alpha sit" in today's intraday market? Same question every trading day. This question can only be answered by the trader who has true knowledge of this single algo. {image}
My only question would be -
Is the money made in its journey or its destination.

I prefer to trade its journey without any interest in its destination.
Trading thin liquidity at the boundary of the charts
  • #756
  • Feb 26, 2021 10:36am Feb 26, 2021 10:36am
Quoting BWilliam
{quote} I know one thing for certain, there's no one who has written anything that demonstrate their knowledge how this single algo function. Look at GBPUSD today that fell from Aussie open. As I wrote in my earlier post, the question is "where does this alpha sit" in today's intraday market or last 4hours? Same question every trading day. This question can only be answered by the trader who has true knowledge of this single algo. {image} {image}
If this single algo with its ubiquitous market control was responsible for the PA on G$ yesterday and the GA this morning, then I owe it dinner and drinks!

And RickM, I am much more interested in the destination than the journey. As long as PA fits structure and the market narrative, the journey will take care of itself.

Good trading everyone!
  • #757
  • Feb 26, 2021 5:03pm Feb 26, 2021 5:03pm
Quoting ia1979
{quote} Hi Rick, thanks for sharing your knowledge. Given the extreme trend moves we have had in the past couple of days, does your reversal method still work fine (talking about footprint data)? I am guessing it would be OK if only aiming for a handful of points (3-5 at a time perhaps).
I’ll PM you to keep thread on track
Trading thin liquidity at the boundary of the charts
  • #758
  • Edited 5:36pm Feb 26, 2021 5:21pm | Edited 5:36pm
Quoting GEfx
{quote} If this single algo with its ubiquitous market control was responsible for the PA on G$ yesterday and the GA this morning, then I owe it dinner and drinks! And RickM, I am much more interested in the destination than the journey. As long as PA fits structure and the market narrative, the journey will take care of itself. Good trading everyone!



Reading about destination & journey in trading reminded me of the Words & Wisdom from an Airline Pilot and a part-time Forex Trader below...

I am an airline pilot flying the Boeing Dreamliner 787 as a captain. In my 35+ years of flying, I've learned that to be a good pilot requires that we master the basics. Our main rules are: aviate, navigate, and communicate. This means we must always fly the airplane (aviate), never allow ourselves to be distracted from this main rule. Secondly, we are to know our course and stay on it (navigate) so that we avoid terrain and other aircraft. Finally, we must be in touch with Air Traffic Control (communicate) to obey their instructions and receive their help if needed. These are the basics, and we who fly practice them every single flight.

Trading is like flying. We want to get to our destination successfully, and to do so requires us to master the basics and not violate trading laws.

In this business, like flying, knowledge is power. To be successful traders, we must continually be thinking, studying, and growing. We must learn from our mistakes and learn from our successes. Think of needing to get a doctorate in trading to be successful, and that amount of learning requires much time and effort. Dedicate yourself to diligent study, careful learning from mistakes, and ongoing development of yourself in all areas.
Trading is an art that can only be mastered through much effort and time. One simply needs to put some effort into the study. Hence, sit back, relax, and enjoy the flight.

"Altitude and Airspeed"
Pilots know that we must at all times have altitude and airspeed. These are the two cardinal rules of flying, for if we run out of either one we stop flying. Altitude and airspeed.

In flying it might be stated, never have an accident. This, of course, is absolutely critical in trading, too, for we want to live to trade another day. In other words, our trading must be careful to protect our capital first, so we keep our losses absolutely tiny in comparison to our profits.

When I fly from Chengdu, China to San Francisco, California we are going from East to West and there is a Jetstream of wind that travels that direction. Our dispatchers will put us directly in that Jetstream to take maximum advantage of 150-200 knot tailwinds. When we are in a trend we must multiply profits, catching the Jetstream of the trend and riding the tailwind which allows our profits not merely to add up but to multiply.

Of course, there are many other rules. For instance:

The method must be simple. What good does it really do to have tons of indicators, Fibonacci retracements, support and resistance, big round numbers, half levels, candlestick pattern notifiers, trend lines, horizontal lines, fifteen indicator windows open, etc... While some of those things are helpful, and we can certainly reference them if we want to, we must keep our trading basic and simple. My Boeing Dreamliner aircraft is very sophisticated, with all the latest technology, and yet we use the same basic instruments that I learned to fly a Cessna 152 with.

The method should be logical. It should make sense, and fit in with sound reasoning. Being logical means it does not violate our two basic rules, it is consistent, it is timeless. When studying and learning different methods we should relatively quickly say "oh, that makes good sense" to know we are on the right track in our learning.

The method should be duplicable. It should work anywhere where there are trends. It should work in finance and in fashion, in business and in industry, in all areas of life. This ensures that our method is sound and that it will continue to work in the future because it is based on the behaviors and patterns of mankind.

Additionally, we must treat trading like a business. We often spend many thousands of hours and dollars learning our profession, and we should think of trading in the same way. Trading successfully requires us to learn and practice, investing time in our future business. One thing I like to do is write down every mistake I make, stating what I learned from it and what I would do differently next time. This is a carryover habit from my early days learning to fly, I still do this after each flight today. And I have done it for 10 years in trading. We want to be part of the 5% of traders who make it, so we must treat trading as a business. Would you want to fly with someone who treats flying as a hobby, tinkers with it to pass the time, or someone who is serious about it and has invested the time to learn it right.

By the way, Collective wisdom is so much greater than any one person.

Altitude and airspeed. Two rules we cannot break.

Keep losses small, let profits run--and multiply them! Two rules we cannot break.
The trading method must have the maximum advantage of those two cardinal rules.

When considering entering the market we want to enter the start of a trend. We can add to our position as the trend moves, but we don’t want to make an initial entry halfway through a trend. We will consider our initial entry to our departure airport. We want to depart at the departure airport. At the beginning of a trend.

Of course, this will mean that we may have several small losses while looking for the trend. There are several things we want to do to help mitigate these losses, such as keep our position size small, spread out our trading capital over numerous currencies (some will range and some will inevitably trend), and keep a tight stop loss at the point of the previous swing high or low.

When we are at the gate ready to depart any number of things can go slightly wrong to delay our departure. Weather can delay departure, mechanical problems can arise that take time to fix, baggage loading can sometimes cause delays, etc. I’m sure you’ve experienced some or many of these things. They can be costly to an airline but they are part of doing business.

Small losses while looking for a trend are part of doing business and must be accepted and even embraced (because we are one trade closer to the trend). Not every flight departs on time. If you are looking for a system that takes no losses then you will want to continue your search. But if you’re willing to accept small losses to make large gains then continue studying here with me. When I take a small loss while looking for a trend it tells me I am one trade closer to departing and flying high and fast.

I have a good friend who has a food truck business. He drives his food van to fairs and civic events where there are lots of people. On good days he can make thousands of dollars in food sales (and he and his wife are fabulous cooks). One good weekend and he is rolling in the dough (pun unintentional), making money hand over fist.

But he lives in Iowa where the winters can be harsh. It is during these cold and snowy winters, where very few people come outside to purchase food that makes him or breaks him. He must not purchase a ton of food during these times or it will spoil and he will have large losses. He must manage this time with small losses in preparation for summer when he will catch a tailwind and make a ton of profit.

This is simply how the business works. And it is how trading works.

How I get into a trend. You can use any method you want to find the initial trend: moving average cross, stochastic cross, trend line break, support/resistance bounce, round number touch, alignment of stars and moon, and the list goes on and on. The reality is that the method of getting into the initial trend is not very important. It is how you manage your trade once in (keeping losses small, letting profits run and multiply them) that matters.

Sure there will be false signals to our method (maintenance delays, weather delays, etc.) but it will ensure that we do get into every trend, and do so close to the beginning. This is what we are after, for as you are about to see, once we get into the trend we are right in the middle of the 200-knot tailwind and we will fly high and fast to profits.

How to take advantage of a trading tailwind.

When we fly East to West our dispatchers try to pick the most advantageous route and altitude to put us right in the middle of the Jetstream. We can save sometimes two hours or more (on long routes) by flying directly in the tailwind. Our technology tells us what the winds are like at different altitudes, and we try to maximize the tailwind.

The reality is that most routes we fly from East to West take advantage of the Jetstream tailwind. Likewise in trading, you can follow a trend and make money in that trend. But our airline wants to maximize the tailwind, so we not only fly the correct route but also the optimum altitude. We are maximizing the Jetstream.

In trading, we not only want to follow the trend we want to maximize our profits in that trend. Again there are lots of ways of doing this, and my way is only one way. Some people add positions on retracements, or at key levels or upon the touch of a moving average, etc. These are all good, and there are many more ways.

Trend Summary:

In flying I want to maximize the tailwinds, flying the route my dispatcher has programmed that contains the strongest tailwind, and sometimes changing altitude to pick up more of that wind. This gets us to our destination faster, saves thousands of pounds of fuel, and makes the airline more profitable.

In trading, we want to maneuver to take the best advantage of the trend, which sometimes has the effect of netting ten times more pips than the trend itself.
When my friend from Iowa knows that the next week will be sunny and that the fair is expecting a record crowd, he will maneuver carefully to take the best advantage of the circumstances. He will stock up on food, make some things ahead of time, hire an extra helper, etc. He knows that this one week at the fair could bring in a year’s worth of income if he works it correctly.

Trading works the same way. We must be very careful not to take big risks (rule #1) and we must let our profits soar—increasing, multiplying, and compounding them at every turn (rule #2). We know that one good trend can hugely affect our trading business’ bottom line.

Whipsaw: the Importance of Being Deliberate and Methodical

One thing that is drilled into airline pilots is the need to be deliberate and careful, sometimes even “slow” in our decisions. In the simulator we practice handling abnormal situations and emergencies, the point of which is to teach us to be deliberate, think through the situation methodically, analyze the problem carefully, go through our checklists not missing one single item, consider our resources and utilize all that we have. Captains, especially, are tasked with keeping “the big picture” in mind. We are to keep the main thing the main thing.

In trading, we must learn to think logically and deliberately about our method. Take your time to think over the big picture of trading and learn to keep the main thing the main thing. Realize that in an abnormal situation, such as price retracing toward our stop loss, and then another stop loss, and another, we should not be in a panic. Our stop loss is in place, and we are not concerned about it in the least for we know stop losses are part of our “operating costs” which every business has.

In my recent memory, a foreign commuter plane crashed and killed all on board. It turns out that shortly after takeoff an engine failed. The pilots, rather than being deliberate and methodical, and probably acting on adrenalin, reached over and shut down the only good engine remaining. They were no doubt thinking they needed to “feather” (shut down) the engine that had failed and was windmilling, causing drag. But in their haste, they shut down the wrong engine, the one good engine.

Learn to be careful and deliberate in your trading, logically thinking through your trading plan and following it consistently, not being reactionary or acting on impulse. Flying, done correctly, should be boring. So should trading.

When we are sitting in the airplane at the gate and get notified of a ground stop program in effect due to weather, we calmly accept that as our fate for that flight. We will be delayed. It is part of flying and not something to fret over or get angry at. We will still depart, it will just be later.
This is the way we must look at stop losses. Our trend is delayed, there is some cost to it, but we will depart. The next trend will come, and we will catch it right from the beginning, right at the departure airport.

Even if we had numerous of these whipsaws, with each one we know we are getting closer to the trend, so we press forward. The worse the situation looks the better we feel about it, the more we anticipate victory just up ahead:

"Hard pressed on my right; my left is in retreat. My center is yielding. Impossible to maneuver. The situation is excellent. I am attacking. Attaquez!"- General Ferdinand Foch (to General Joffre during Battle of the Marne)

Let’s think about something regarding flying. This time using a rocket as an example. If you’ve ever seen a rocket take off you know that right in the beginning it exerts a whole lot of energy but doesn’t move far or fast. As the engines/rockets roar they are burning huge amounts of fuel, far more than at any other point in the rocket’s journey, yet it is barely moving.

Then, as the rocket gets airborne and begins its climb it “throttles back” at a certain altitude so it begins burning a lot less fuel, expending a lot less energy. And yet it is now moving at hundreds/thousands of miles per hour.

Finally, once that rocket gets into orbit it is expending no energy whatsoever, it is orbiting at a very high rate of speed without any burning of fuel or use of energy.

Remember this when you are just starting to get in the trend. This is the time when you will burn the most fuel (pips) and could be making no progress. You might go through one stop loss after another, seemingly wasting energy while going nowhere.

Once you get airborne into the trend and begin adding positions, you find that your profits are compounding, almost like they are on autopilot. If the trend lasts, you will be orbiting.

Again, keeping the big picture, the actual method for reentering is not as important as the fact that we are committed to multiplying profits in a trend. If compounding interest is the 8th wonder of the world, compounding profits in a trend is the most important thing in a trading method. These compounding profits will more than makeup for singular losses.

So yes, continue looking for ways to minimize losses in ranging markets. But don’t let them discourage you, or you’ll not ever make a good trader. Rather than being discouraged by them, rise above the chop and see things from a higher view. Is it sound trading to take linear losses and exponential profits? Am I making money when I sit through 40 periods of chop followed by one trending period? These are the questions to ask.

Relating this to the business of flying, we must learn to think like a CEO, not an employee (absolutely nothing wrong with being an employee, I’m just using an illustration). A CEO does not look at times where flights are delayed, which costs the company money, and think “wow, these delays will ruin our yearly profits.” Or “Oh my, these winter months are losing us money every single month, I don’t think it’s worth it to run this airline.” No, a CEO sees a bigger picture. He looks at the operation from 40,000 feet and sees that spring, summer, and fall months bring in much more profit than a few losses in the winter. Granted, he is always looking for ways to minimize losses; implementing cost-saving programs when and where he can. But he accepts small losses in exchange for large profits as a normal part of business life.

We must do the same in our trading. Such as, we could look at flat line SMA times all day long, and all of us agree they would be times of losses. This might lead us to decide that, for my type of personality, I would rather be a range trader, since ranges happen the majority of the time. That’s perfectly fine, and a good decision for many. Or, we might decide to accept small losses, helping our range trading brothers and sisters make a living too, and stay with our trend trading methodology.

After 10+ years in this industry, reading everything I could find on the subject, testing many different methods and concepts, I’m convinced that range-losses are here to stay, and that trend-gains will overcome them, by a value of multiples.



Source: Dreamliner >>> https://www.forexfactory.com/showthread.php?t=576707
Since Frank Sinatra sings in his own way, my chart sing... I did it, my way
  • #759
  • Feb 26, 2021 6:06pm Feb 26, 2021 6:06pm
Quoting v2vboni
{quote} Reading about destination & journey in trading reminded me of the Words & Wisdom from an Airline Pilot and a part-time Forex Trader below...

These are (and ALL prior posts) great discussions for me & my thinking, cheers.

And hopefully for all forex’ers.


v2v, Moody will enjoy the “plane pilot” analogy I am sure.


So, single algo or otherwise, fundamentals, market price illusions, alpha, maths, market speed & the tape, micro tick charts,

and … journey or destination


(or journey and destination maybe, in my simple view)


Once directional momentum is established I can see that a journey has begun.
(as continuation or reversal)
Major/minor (fractal based) Targets I can visualise as potential destinations.
I then might choose to “buy” a ticket on that train.

Though I don’t usually ride that ticket for the full train journey, to its probable destination.
As I don’t quite trust (?) the markets (MM, algo etc lol) to ALWAYS give me my imagined 80/20 trade probabilty.

So I take what I can, when I can, get some pips for the day - and then out.
(ie this is NON professional trading, but can have satisfactory results).

I could call it price surfing, I guess. Between the journey’s start, and before its destination.

(And also checking my flight list basics along the way )

We all do it (trade) a little differently.

And that's what makes the markets, the markets.


.
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  • #760
  • Feb 26, 2021 7:20pm Feb 26, 2021 7:20pm
I started my journey in a bucket shop in the early 90s. There were no Internet at that time. To make a trade I use the telephone that's connected to the dealing room who give the quote, then I decide if I will enter a trade or not. The traders were all together in the bucket shop, these were real people. Ofc there are few traders who called in from outside the shop. We mingled, interact the whole time we're at the shop. We became colleagues or mates or friends depend how you see it after spending 24/7 together. We knew each other well enough as a real person.

This scenario allows us to discuss the market with no holds barred, no fear of criticism, no perceived negativity, no bad motive. Just simply questioning EVERYTHING that's to be questioned. EVERYONE took no offence in the DISCUSSION that was meant to be for the good of ALL of us. You can guess the million of hard questions we collectively posed. OUR common objective is to make money. This was the scenario in a bucket shop. Everything as real as it can get.

FF is a trading forum where we're anonymous. We don't know who the fark we're talking to. We don't know the motive of the member we talk to. We don't know the character type of the person in internet environment. There's lack of TRUST on the Internet.

The result is we don't DISCUSS the hard part of trading. We don't make the million questions that we do face to face in the bucket shop. ZERO question because such hard questions is taken as offence to the other guy. EGO get hurt easily. EGO is extra huge on the forum. EGO is so much more important than to simply DISCUSS the hard part of trading.

All we read on forum is motherhood statements. Lots and lots of broad brush motherhood statements. ALL members are expected to toe the line. ANYONE who don't comform to motherhood statements get chastised, stoned. This's the internet forum of anonymous identities. DISCUSSION on forum has become a joke. A broadly accepted joke.

I come from both worlds of trading, different era. I can see the huge difference. Don't take offence with this post. I am merely sharing my observation.
Know what you trade
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