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The truth about trading 161 replies
Truth about trading 9 replies
Truth about online trading...Is this us also? 5 replies
Pulos Bill - The Truth About Fibonacci Trading (Attached) 4 replies
The Bonehead Trader..please be brutal!! 47 replies
DislikedWhat about daytraders like Ross (warrior trader)? Ross made over $4,000,000 in 2020 daytrading about 4 hours a day. Check his youtube channel. https://www.youtube.com/user/DaytradeWarriorIgnored
QuoteDisliked“The game of speculation is the most uniformly fascinating game in the world. But it is not a game for the stupid, the mentally lazy, the person of inferior emotional balance, or the get-rich-quick adventurer. They will die poor.” -Jesse Lauriston Livermore
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QuoteDislikedIn the average year, about 4,000 day traders are able to predictably profit net of a reasonable accounting for transactions costs.
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The top 500 day traders (based on prior year ranking) earn gross (net) abnormal returns of 61.3(37.9) bps per day on their day trading portfolio, while the tens of thousands of day traders with a history of losses in the prior year go on to earn gross (net) abnormal returns of -11.5 (-28.9) bps...
QuoteDislikedA slower life . . . is more effective, more artistic, much richer than a life lived as a race against the clock. It gives you time to pause, to think, to reflect, to decide, to weigh pros and cons. It gives you time for relationships.
DislikedSorry but I disagree. Yes the attributes of greed, desire for action, impatience, fear of missing a profitable trade, lack of discipline are things all types of trader might have issues with until they learn to control their emotions. To think that day trading doesn't require patience and discipline is just wrong. To be a successful trader you need: 1) Thorough understanding of your psyche, what kind of trading suits your personality best. Most people are suited to longer time frames. But some are not the waiting breeds impatience and loss of discipline,...Ignored
Disliked{quote} Hi RickM! Hope so too But my message was... To be successful in trading you have 1. To be Disciplined 2. To have Patience 3. To follow Rules 4. To use one Strategy and be the master of that strategy Okay. Let's say I have some rules that I follow to go short for example: 1. Signal candle on 1m TF must be lower than the daily open. 2. It must be in range of 7:00-20:00 broker server time. 3. 1H tf must be red. .... 10. Exit will be at 0.25% custom adr, or on nearest level, or on previous HL. 11. DTP will jump every 0.01 custom adr....Ignored
Disliked{quote} Thanks for the reply rockypoint, this is the cliché of "Find a trading style that suits your personality" It is not wrong, absolutely not wrong trading a system that suits your 'personality'. But the thing is rocky, almost nobody says no to a get-rich quick opportunity. nobody. So actually this 'personality' thing is quite predictable given the extreme example above (i.e. fear and greed) that is also the very reason why the market moves in the first place. Different people got different 'personality' hence, different point of views = balance...Ignored
DislikedI take it was from one EA you have running, not the other 99 EA’s you have on live charts. To be honest, you would have to be crazy to run so many EA’s on a live market, if your broker sees you have more than 250 open positions on their platform, they consider that abuse of their systems. They will close your accounts.Ignored
Disliked{quote} Hi remonpilip Yes, there is in fact a structure we can monetize from, but this structure has to be rigid enough not to get carried a way by the news. Hence, the longer term trend. Higher Time Frame. Long Term Speculating. Nothing wrong with that concept, its the execution of that strategy is the problem. When is a trend a trend and when does a trend stop being a trend ? I had a mate who in June 2008 believed the Aussie dollar was going to $1.20 and he started buying at 70 cents. Three years later and after adding along the way, he had turned...Ignored
QuoteDisliked"A speculator of great genius once told me:
“When I see a danger signal handed to me, I don’t argue with it. I get out! A few days later, if everything looks all right, I can always go back in again. Thereby I have saved myself a lot of worry and money. I figure it out this way. If I were walking along a railroad track and saw an express train coming at me sixty miles an hour, I would not be damned fool enough not to get off the track and let the train go by. After it had passed, I could always get back on the track again,...
QuoteDisliked"A speculator of great genius once told me:
“When I see a danger signal handed to me, I don’t argue with it. I get out! A few days later, if everything looks all right, I can always go back in again. Thereby I have saved myself a lot of worry and money. I figure it out this way. If I were walking along a railroad track and saw an express train coming at me sixty miles an hour, I would not be damned fool enough not to get off the track and let the train go by. After it had passed, I could always get back on the track again,...
Disliked{quote} Let's say I have some rules that I follow to go short for example: 1. Signal candle on 1m TF must be lower than the daily open. 2. It must be in range of 7:00-20:00 broker server time. 3. 1H tf must be red. .... 10. Exit will be at 0.25% custom adr, or on nearest level, or on previous HL. 11. DTP will jump every 0.01 custom adr. 12. DSL will fix profit after 50% reached. ... I agree that it is impossible to run robot and go to sleep. You have to check everything. Even space crafts are not 100% auto, a lot of people check/track its behavior...Ignored
Disliked{quote} I use only EAs. have running more than 100 EAs now.. "high long term profits", "great results"... and here is the main issue. People think they can earn money with FX for a living. Very naive idea. With a small capital, you need big constant profits to pay bills. "Big" and "constant" profits are not possible. Too high expectations of profits. Normal and achievable profits is 20-40% yearly. And that can be done easily with EAs.. Then use compounding. View forex as investing and not "trading for living"... All "gurus" here in FF cant show...Ignored
Disliked{quote} just curious how long for u to get it right?? as per your rudimentary flowchart you seem to be there, for me it was 10 yrs. but i had recurring income from elsewhere. lot of guys head straight to EA's that's wrong. you have to get it right manually or close to it and then design the EA around it.Ignored
Disliked{quote} Hope you can get lot of investors in darwinex, many just watch profits and not DD, or the DD's are diffrent than trading metrics. Are there about 160 trades ?, so too early comment nothing about performance and quality. Good start.Ignored
DislikedWhere is data about long term traders? Do we compare something or only blaming something? What role play in statistic words like "MOST", or "almost uniformly"? In trading only fraction market participants are winners, little fraction no matter of the timeframe... How you can compare day traders efficiency with long-term efficiency when some of long runners execute few trades monthly (maybe) with guys executing tens trades every day... this is ridicules to compare two different animals This thread is about why tigers are eating less grass then cows...Ignored