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The brutal truth of day trading

  • #841
  • May 19, 2021 11:07pm May 19, 2021 11:07pm
Quoting GEfx
{quote} By the way, just for the record, I know over 100 traders personally, with many of them former bank traders. There are dozens of former bank traders in the trading group I belong to, I have consulted with Tier 1 banks, have consulted with The Federal Reserve Bank of Chicago, and have consulted with the CBOT. I regularly discuss forex trading in various threads here on FF, and have documented my trading in a journal, right here on FF. I talk about actual trading and forex trades. I'd be happy to discuss my real, actual forex trades that I've...
It is not in the interest of the Factory to police the behavior of prolific posters. They draw eyeballs, which converts to ad revenue. As long as posters do not touch any third rails, they can post bilge until the cows come home. No charts needed, no logic given, no concrete references offered, no rules displayed. There is no such thing as bad publicity, especially if one is trying to garner attention. FF knows this well. As long as people engage with that poster, for any reason, this helps the business model.

Not necessarily talking about anyone on this thread. This is about marketing.
If you are good at something, never do it for free--Joker
  • #842
  • May 20, 2021 12:10am May 20, 2021 12:10am
There are three real life stages to the evolution of trading -

1. Learn about the world of trading
2. Learn how to trade
3. Arrive at the conclusion and have the realization that how you identify with yourself is why people like to say "I am a trader" and think of it as a 'job title'.

Trading is an activity. Similar to walking the dog or driving a car. Anyone who tries to convince you it's anything different to this is trying to persuade you to think like them.

If people are gullible enough to be impressed by chatter then fine. But it doesn't impress me and nor does someone who feels the need to huddle with others in a group to feel safe or confident.

Seeing as most people here have not progressed beyond step 2 why would it be necessary to try and learn anything from you or worse yet, be like you or compete with you?

See the difference yet?

The people who want to learn how to trade, at some point in the future, will HAVE TO learn how to think for themself and develop their own strategies, OR, they end up like some here who prefer the "safety" of a group.

So sure, say anything to dismiss the basics. The obvious and the other things that have escaped you.

People who just want to leech and scab from others will follow but the person who KNOWS that their future requires them to think for themself and learn more thoroughly and independently will learn, no matter what.

So no competitions or threats back and forth are needed. Nor any talk about marketing etc needed. The idiots fall inline but others don't want what you offer because they can see what their own goals and plans hold for them.

It's always funny stepping around linear literal thinkers who assume they ............ ????????



Have Fun


Peter
Real Trading is not gambling.
  • #843
  • May 20, 2021 12:50am May 20, 2021 12:50am
Kindly explain, GE.
I will benefit greatly from picking your brain and I am sure that many more will benefit, too.

Quoting GEfx
{quote} I'd be happy to discuss my real, actual forex trades that I've made this week in the GA, the EA, the G$, and the $CAD. I can explain my analysis of market structure, my analysis of FA, my TA, why I make trades, and why I exit profitable trades when I do. I can explain why the market does what it does, and what's going on in the market right now.
  • #844
  • May 20, 2021 2:23am May 20, 2021 2:23am
Quoting PeterCaleb
1. Learn about the world of trading 2. Learn how to trade 3. Arrive at the conclusion and have the realization that how you identify with yourself is why people like to say "I am a trader" and think of it as a 'job title'.
PeterCaleb secrets of success:

1. Learn about the world of trading = draw random lines on the chart + add some fibo to have even more magic involved. Remember that more lines more probability that price will cross some. So you can explain everything later.

2. Learn how to trade = never show any real trade. Only paper trades.

3. Arrive at the conclusion and have the realization... - use random phrase generator with setting where min number on words must be >5000 for each FF post.
Observer effect
  • #845
  • May 20, 2021 2:57am May 20, 2021 2:57am
Quoting ryuryu
{quote} PeterCaleb secrets of success: 1. Learn about the world of trading = draw random lines on the chart + add some fibo to have even more magic involved. Remember that more lines more probability that price will cross some. So you can explain everything later. 2. Learn how to trade = never show any real trade. Only paper trades. 3. Arrive at the conclusion and have the realization... - use random phrase generator with setting where min number on words must be >5000 for each FF post.

You forget, Peters teaching about learn everything by yourself , but when explaining things use other peoples videos and images and text, while creating an application which is generating endless ammount of scattered,sporadic out of context information.
Sitting on own pee with childerns on floor in supermarket crying not get lollipop, because nobody accept he is most important guru in forexfactory, what he want to be.
  • #846
  • May 20, 2021 3:33am May 20, 2021 3:33am
And now we have the fools who talk the same crap as 90+% of all the people all over the place. Congrats fellas. You must be so proud. How does that thumb taste?

More stuff that is wrong on so many levels. I have shown many things. And it wouldn't even take a primary schooler to see certain things.

But you're funny. I can think of two documents that prove all your rubbish are lies.

Day trading is not for you.


Peter
Real Trading is not gambling.
  • #847
  • Edited 5:23am May 20, 2021 4:49am | Edited 5:23am
Yak yak yakaty yak.

Peter Come some live room and show your skills, and not just babble.
Only funny thing is humminbirds chick has bigger balls than you.
  • #848
  • May 20, 2021 6:23am May 20, 2021 6:23am
It's great success to have so many haters. As a result Peter has something to tell.
  • #849
  • May 20, 2021 6:34am May 20, 2021 6:34am
Quoting Ihlas
It's great success to have so many haters. As a result Peter has something to tell.
I don't hate him.

Hitler had also lot of tell, and haters, it does'nt proof he was right.
  • #850
  • May 20, 2021 7:22am May 20, 2021 7:22am
Hi G,

Quote
In reality, there is less conflict at these levels and more communications occurring among bankers (they read charts, too).
Is this because one bank is taking position and other bank is exiting at the same zone/area/level ? Do they have fixed targets or they will exit when they get those big orders from other banks or corporations?

Please talk about market structure. I have been read that market structure is very important but I can't get a satisfactory answer.

Quote
why the market does what it does
Because markets exist to facilitate trades?

Quote
why I exit profitable trades when I do
Why?

Thanks for your time G
A trade should be based on an assumption based on facts
  • #851
  • May 20, 2021 7:36am May 20, 2021 7:36am
Quote
Yes there is a difference and yes this difference matters and is meaningful.

We, people who never knew bank traders, don't know the difference. So, we can only make guesses that this might be possible, that might be possible but what is the use of knowing a bank trader? Then you will say that there is no certainty of anything. Your posts begin with "you do not have any idea" and then you rant, almost on every post, about what youngsters are doing in their life.
Are their professionals for taking dog out for a walk? Trading is a profession and for that matter any other profession is a lifestyle for the professionals of that field. Their is a difference between an activity and a profession. You have to tell me what the difference is.

In all frankness, you are only pointing out problems. You are not a problem solver.

Thanks for your time Peter
A trade should be based on an assumption based on facts
  • #852
  • May 20, 2021 9:48am May 20, 2021 9:48am
If you say so. I just don't see why I have to play by their rules of engagement when I still have a brain that works. People who are just looking for "answers" are just scabs and clearly don't know how to think for themselves. Yes I can problem solve. I can also tell the difference between someone who wants to learn and someone who just uses others to get what they want. As I have said to people previously, if you don't deal with your personal issues then trading will never make proper sense and you end up spieling your resume instead of proving you can think beyond "trading" and all that this word apparently entails and implies.

For you maverick, seeing as you have a problem reading - trading is just an activity. People who have a bloated idea of what it is and is involved want offices. People who don't know the difference between simple things like a job vs an activity (On any level) probably need not bother trying to trade. This is not semantics or some poorly executed interpretation. People who love pomp and ceremony love making it out to be something it's not. Just like people who love twisting reality into their perspective or people who think knowing a hundred people is quality enough.

For me, I merely enjoy pushing people out of their comfort zones to see what happens. After all that's how we sometimes learn. And majority of the 'in-crowd' on this site and others fail almost every time because they are hoping that no one who has been around long enough will notice them and their story telling.

It's usually pretty easy to see what people are like in real life by how they carry something real in a conversation or discussion.

So just as it is with the word trading, profession/al is also just a word.

Have fun


Peter
Real Trading is not gambling.
  • #853
  • May 20, 2021 10:16am May 20, 2021 10:16am
Quoting PeterCaleb
The people who want to learn how to trade, at some point in the future, will HAVE TO learn how to think for themself and develop their own strategies, OR, they end up like some here who prefer the "safety" of a group. So sure, say anything to dismiss the basics. The obvious and the other things that have escaped you. People who just want to leech and scab from others will follow but the person who KNOWS that their future requires them to think for themself and learn more thoroughly and independently will learn, no matter what.
Actually, what Peter said here is quite true.

Nobody will give away his working system/strategy. Why give away?

Still, you can find some pieces of info and compile your own piece of info. This is ok. And expect nothing more to find on the internet regarding forex trading. Only pieces of info. Which if un-changed 95% can wipe out your account. Yes exists 5%... but hard to find. It's not wise to bet on 1 strategy/signal/piece of info you found.

You have to think your own strategy - allways. No shortcut.

It does not limit you to copy trades from signals providers or experienced traders... if you have a strategy on that. For example, you get signals from n providers and then make your own decision if all signals the same. Or your strategy can be to split volume by different signals. This still might be a good strategy. You need to test it on demo. Get some statistics for 3 years. Then go on with real money.

So it is ok to give advice here... take what works for you. Think of your own approach.

If you blindly copy 1 signal.. (or use 1 EA) go with 1 account... all in... well.. that's a stupid idea because never put all eggs in 1 basket.

This is relevant to EAs also... never bet on 1 EA...

If you are manual trader... well you are an "EA" ... just working differently than programmed algos. But still you are 1 subject. From investing point you are very risky. I wont copy 1 particular trader signals. I would copy 10 traders at least. Split capital between 10 traders. Not wise to bet on 1 trader. Think about that... you have money, all on 1 working account and you trade manually... this is "all in" in long term. After 2 years of manual trading there are 70% chance your account will be wiped out. Why you bet "all in" on yourself?

Hedgefunds and banks have hundreds of traders - manual and EAs experts. For example 100 traders. Some win, some lose. But bank - win. Because bank diversified capital between those traders. If you wish to think as banks do then never rely on your skills only. You are only 1 entity. Split your capital between at least 10 different baskets - EAs, signals, other traders, group trading - think how to diversify.
  • #854
  • May 20, 2021 10:16am May 20, 2021 10:16am
Quote
job vs an activity
So, there is a competition/fight ?

Quote
People who have a bloated idea of what it is
You said it has to do with life. How long before you are dead?

Quote
twisting reality into their perspective
This is not even a complete sentence. Which perspective? Which reality? How do you define reality?

Quote
So just as it is with the word trading, profession/al is also just a word.
What have you done your whole life? You lack any kind of commitment.
A trade should be based on an assumption based on facts
  • #855
  • May 20, 2021 10:27am May 20, 2021 10:27am
Quoting maverick2017
Hi G, {quote} Is this because one bank is taking position and other bank is exiting at the same zone/area/level ? Do they have fixed targets or they will exit when they get those big orders from other banks or corporations? Please talk about market structure. I have been read that market structure is very important but I can't get a satisfactory answer. {quote} Because markets exist to facilitate trades? {quote} Why? Thanks for your time G
Structure in the forex is a comparative analysis of two economies, and the resulting, designed development of price to reflect that comparative analysis. The fundamentals driving changes in price targets are constantly changing, so structure assumes that current assumptions, which are based on fundamental analysis, will continue to roll along, until there is a change to the fundamentals, which will change the comparative analysis, etc. So, my definition of market structure is how fundamental analysis drives the market to future price levels.

I just completed a white paper for my trading group, with an analysis of the recent changes in the fundamental in the US economy, and how that might be reflected in price structure in the E$, G$, and $J. If the most recent fundamentals in the US are transitory, then structure will pretty much remain on its current path. If not, there should be some important changes to structure, if the same developments do not materialize in Europe, GB, and Japan.

Why is this important? In a macro view of PA, daily moves that are in line with structure tend to move farther and faster than moves that do not. I do my structural analysis on the Day and 4h charts, which is where my S/R levels are, where target are found, etc.

This is why structure is important to me. I know there are other views of structure, so I turn the floor over to others for further discussion on this topic.
  • #856
  • May 20, 2021 11:10am May 20, 2021 11:10am
Quoting PeterCaleb
There are three real life stages to the evolution of trading - 1. Learn about the world of trading 2. Learn how to trade 3. Arrive at the conclusion and have the realization that how you identify with yourself is why people like to say "I am a trader" and think of it as a 'job title'. Trading is an activity. Similar to walking the dog or driving a car. Anyone who tries to convince you it's anything different to this is trying to persuade you to think like them. If people are gullible enough to be impressed by chatter then fine. But it doesn't impress...
In a previous post, I accused Peter of engaging in disjointed, unfocused, and obscure discussions. This post underscores my point.

There are three life stages to the evolution of trading? Or in your unqualified opinion, there three life stages to the evolution to becoming a trader? Is this opinion based on your life experience? This this an opinion based on your learning?

Trading is an activity similar to walking a dog or driving a car? Really? Most everyone on earth involved in trading considers it a process. But, your opinion, based on your life experience, is that trading is an activity similar to walking the dog? (in all honesty, this idiotic statement disqualifies you from ever being taken seriously in any discussion about trading). Everyone here who is struggling with learning about trading the forex should know that it's just an activity like walking the dog. That should put you in the right frame of mind to learn, right?

You seem to have a low opinion of groups. What I find ironic is that everyone who participates in a FF thread is in fact, seeking the company of the group. You, Peter, are participating in a group by sharing the drivel that forms in your addlepated brain with everyone here through your posts. Is your low opinion of groups the result of your lifetime experience and learning? Do you feel dirty, or do you feel superior, when you lower yourself to participate with linear, literal thinkers?

You have a very high opinion of yourself, but you fail to demonstrate actual trading stills. You always talk down to people, but fail to actually demonstrate the reason for this high opinion of yourself. Is that because you have life experiences that prove you are above everyone, or you have learned in your life that you are just superior to all the linear, literal thinkers?

Peter, you have failed to demonstrate any actual trading skills here, which in my opinion, makes you a fraud. You like to obfuscate and dodge any challenge to your posts, but never really stand up like a man to face challenges. Those of us who actually know what we are talking about, see this behavior as cowardly. In actuality, people here are not scabs or leeches for asking questions, and instead are using FF as a learning tool. But you, Peter, are a scab on their learning process, because you distract from their objective of learning about forex trading, with your constant need to belittle them, as they ask questions and discuss forex trading topics.

I presented you with a challenge and it remains on the table.

I can't wait for your next post.
  • #857
  • May 20, 2021 11:22am May 20, 2021 11:22am
Quote
So, my definition of market structure is how fundamental analysis drives the market to future price levels.
Do the feds operate in the forex market?

I used to think of market structure is made of Feds - Institutions - Tier 1 bank - Tier 2 bank etc. - HNI - Retail. If there is some news which could affect the market then Feds - Institutions - Tier 1 bank - Tier 2 bank etc. - HNI - Retail, this would be the order which price will follow. Since feds have more money, they will form a base kind of area/range within which they would enter, then the institutions will form a base of their own, not necessarily in the same direction but since fed is more powerful so institutions might find it hard to move the market but the orders from institutions will be filled easily. Then there will be Tier1/2/3 banks forming a base of their own.
This structure will remain the same until new news with market fundamental changing potential comes.
How wrong is this?

Thanks for your time G
A trade should be based on an assumption based on facts
  • #858
  • May 20, 2021 12:01pm May 20, 2021 12:01pm
Quoting maverick2017
{quote} Do the feds operate in the forex market? I used to think of market structure is made of Feds - Institutions - Tier 1 bank - Tier 2 bank etc. - HNI - Retail. If there is some news which could affect the market then Feds - Institutions - Tier 1 bank - Tier 2 bank etc. - HNI - Retail, this would be the order which price will follow. Since feds have more money, they will form a base kind of area/range within which they would enter, then the institutions will form a base of their own, not necessarily in the same direction but since fed is more...
Hi Maverick,
You have the power structure generally correct. In the US, the US Treasury is officially in charge of the dollar, with the Fed, Tier 1.2.3 banks following. The market reflects fundamental analysis, with the Treasury and Fed setting the pace and watching the market activities. Keep in mind that there are many things that impact the pace and direction of the forex market, as it develops or unfolds on the Day and 4H charts. Fundamentals influence where money in being invested, where it flows, the comparative interest rates between countries, resulting opportunities that interest rates provide, etc.

I am headed out for the day. Good trading everyone!
  • #859
  • May 20, 2021 12:48pm May 20, 2021 12:48pm
Quoting GEfx
{quote} Hi Maverick, You have the power structure generally correct. In the US, the US Treasury is officially in charge of the dollar, with the Fed, Tier 1.2.3 banks following. The market reflects fundamental analysis, with the Treasury and Fed setting the pace and watching the market activities. Keep in mind that there are many things that impact the pace and direction of the forex market, as it develops or unfolds on the Day and 4H charts. Fundamentals influence where money in being invested, where it flows, the comparative interest rates between...
Quote
Good trading everyone!
Same to you G. Have a good time.
A trade should be based on an assumption based on facts
  • #860
  • Edited 8:41pm May 20, 2021 7:39pm | Edited 8:41pm
There was a time once, where "trading" was unavailable to normal people, yet they still needed to be able to think.

The difference between me and people like you Gefx and RickM etc, is that regardless of who I am, only the weak minded and impressionable are going to be impressed by people like you. Why? They don't know any better.

I don't care if you have lunch with the queen once a year. I have shown you are just an intellectualite. Maybe you trade maybe you don't. Who cares. I deliberately create disjointedness in what I write because 1. I do in fact know how to communicate 2. I do it because it throws off the thinking of those who need a beginning, middle and end to the story. People like this need everything laid out and presented for them, otherwise, you might actually have to ..... think?!

If people follow the same narrative rubbish that most people attest to without actually going and doing any actual research into the different aspects of the trading world, then they deserve to struggle for years on end.

The hilarious thing about all this is people like you think this is all about "me". Hehehehe. No. It's simply about twisting that knife that people like you have in your side, who have "SO MUCH" invested in "trading". Hehehehe. I think if I remember back, I was in my thirties when I figured out the game. No need to prove myself by writing a "white paper" or joining a group of traders. High opinion? No.

So for me, this is not about some showdown like we're 5 yrs old. This is about showing that in the long run, idiots, behind ALL their information addiction and posturing and everything else, are just scared little children.

When I presented the information to you about Debt Liquidity, you proved you're a fool. You truly couldn't think your way out of a shoe box. And yet, other information junkies are attracted to people like you because they believe that "more" information will help.

I've met so many idiots like you and others over the years, so no, it's not high opinion, it's Life presented.

THIS is what it's all about.

For me, this is not personal. It's laughable. I've spoken privately to other people who I've done business with over the years and they have read all this stuff and one woman fell off her office chair in fits of laughter ....... AN OFFICE CHAIR !!! You know how hard it is to fall out of one of those?? And yet she did it.

I'm not the fool here. I'm the one saying the following - The legitimate real life people or individuals who have ALWAYS been successful trading the markets (Any and all markets) don't collaborate with idiots whose only feature is to put on facades to others. Period.

To me, you're just a high level indicator of the masses of information that stands in people's way of actually learning what others are too stupid or lazy to acknowledge. So there's really no competition here.

I already saw and made known to maverick that he/she has personal issues and that they are interfering with their approaches and understanding ........... AND ...... here we are, watching "Johnny" still chasing that next bit of information. As if there is no where in the world where that info is accessible, except here. As I said, it's laughable.

I know MANY people who have, over the years utilized sites like these to learn yet never set foot inside the log in area. So what sets them apart I wonder?

People like you remind me of wonderful persons such as Alan Greenspan..... who is a dick in real life.

Trading can be done in many different ways, but an idiot is always an idiot. As I said to RickM, I'll say to you - I wouldn't waste a bucket of piss on your kind. While others are impressed by many things, it's only due to their lack of exposure to the people in the industry and their lack of experience that has them fawning over people who really have shown they're no better than a middle class employee trying to keep up with the joneses.

You seem to forget, the people who can see you're unteachable usually stay away. Now why is that?

So Gefx, I don't care who you are or who you think you are.

You go do what you do. And hope Life doesn't prove you wrong.

If people are too emotive to see what is right in front of them then they deserve everything they get.


Peter
Real Trading is not gambling.
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