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The brutal truth of day trading

  • #2,001
  • Jul 17, 2021 9:16am Jul 17, 2021 9:16am
Quoting mixedbags
{quote} 400 lots????? from where did you see the 400 lots???? Jul 14, 10:17pm (47 hr ago) BUY GBPUSD 1.38258 Take profit 1.38630 Stop Loss 1.38190 This was called on the 14 July on the another thread
Sorry mixedbags, my computer took me to "traderRon" post who used 400 lots on EURNZD.
I thought you were talking about that post.

Disregard my comments and enjoy your weekend (bloody computer)
Trading thin liquidity at the boundary of the charts
  • #2,002
  • Jul 17, 2021 9:22am Jul 17, 2021 9:22am
Food for thought:three stock indexes in the US have risen around 13.5% ytd, and around 33% in the last year. If your forex trading can’t equal this performance, you might reconsider where you spend your time and money.

i spend about ten minutes a day on my equity investments (nearly all in index funds and Berkshire Hathaway because I hate studying individual companies), about an hour on real estate rental properties, about three hours on forex trading, and about 5 hours on research and writing. My equity and real estate investments are really for my kids and grandkids. Research and writing are the most rewarding part of my day, and directly linked to my forex trading. I make more on forex, as a percent of investment, than anything else. If that weren’t true, I wouldn’t be stopping by here from time to time chatting with you fine people.

Stay focused and good trading!
  • #2,003
  • Jul 17, 2021 9:48am Jul 17, 2021 9:48am
Quoting BWilliam
{quote} The moment the trader trades for a living, trading forex for a regular monthly income he created a problem for himself. It takes a separate thread to explain this fact. Either you know this forex market enough or you don't. https://www.forexfactory.com/thread/...8#post13629428
Hi BWilliams

What a load of crap designed to steer you away from a very simple money management plan that provides a regular income.
You draw down on capital which gets topped up by your monthly winnings.

Think about it.

They are selling TRAINING

Trader Tom's work is far better in my opinion.

Cheers
Trading thin liquidity at the boundary of the charts
  • #2,004
  • Jul 17, 2021 9:55am Jul 17, 2021 9:55am
Quoting GEfx
Food for thought:three stock indexes in the US have risen around 13.5% ytd, and around 33% in the last year. If your forex trading can’t equal this performance, you might reconsider where you spend your time and money. i spend about ten minutes a day on my equity investments (nearly all in index funds and Berkshire Hathaway because I hate studying individual companies), about an hour on real estate rental properties, about three hours on forex trading, and about 5 hours on research and writing. My equity and real estate investments are really for...
What a great approach! Especially about real estate. I'm doing about the same. But during these days a lot of people zombified by mass media that real estate has low income, you have to pay a lot of taxes and it is not a good investment and that you have better to rent it and buy invisible stocks/crypto instead. Because if new crisis comes (when) it will be harder to get your real estate, but much simpler to zero your digital assets.
Observer effect
  • #2,005
  • Jul 17, 2021 10:01am Jul 17, 2021 10:01am
Quoting RickM
{quote} Hi BWilliams What a load of crap designed to steer you away from a very simple money management plan that provides a regular income. You draw down on capital which gets topped up by your monthly winnings. Think about it. They are selling TRAINING Trader Tom's work is far better in my opinion. Cheers
Hi RickM, I've written more than once about my opinion. Everyone has their own opinion. I realised we all have different opinion on this subject matter which we are entitled to. When I read people's posts I know where they stand on this subject. It's a personal thing. You got to figure it out what's right for yourself. Anton or Tom doesn't matter, I don't see much difference in their stand. I don't impose my opinion on others, I merely state where I stand on this subject matter. Like I wrote earlier, either you know or you don't. Or you waste time argue on forum. Or some people get angry on forum.
Know what you trade
  • #2,006
  • Jul 17, 2021 10:08am Jul 17, 2021 10:08am
Quoting BWilliam
{quote} Hi RickM, I've written more than once about my opinion. Everyone has their own opinion. I realised we all have different opinion on this subject matter which we are entitled to. When I read people's posts I know where they stand on this subject. It's a personal thing. You got to figure it out what's right for yourself. I don't impose my opinion on others, I merely state where I stand on this subject matter. Like I wrote earlier, either you know or you don't. Or you waste time argue on forum.
Well the Institute of Trading where Anton is and other professional traders, they all have been working for banks and financial institutions as investors/traders. You can look it up they are legit. I would rather take the advice from them, than someone here on FF where most likely majority of people here don't even trade/invest for a living. Paying to learn how to trade professionally with someone like Anton and his other mentors, that are legit and have experience in finance, I would say best education investment ever. But to each their own.
  • #2,007
  • Jul 17, 2021 10:25am Jul 17, 2021 10:25am
Quoting Techanalyst
{quote} Well the Institute of Trading where Anton is and other professional traders, they all have been working for banks and financial institutions as investors/traders. You can look it up they are legit. I would rather take the advice from them, than someone here on FF where most likely majority of people here don't even trade/invest for a living. Paying to learn how to trade professionally with someone like Anton and his other mentors, that are legit and have experience in finance, I would say best education investment ever. But to each their...
Yet the guy saying intra day is not possible thats strange. It seems They recorded the video giving a referesher lunch at a lavish hotel to newbies from newbies money to attract more newbies to join their courses, seems a good way to attract and catch new fishes.
"Exchange of hands"
  • #2,008
  • Jul 17, 2021 10:27am Jul 17, 2021 10:27am
Quoting ryuryu
{quote} What a great approach! Especially about real estate. I'm doing about the same. But during these days a lot of people zombified by mass media that real estate has low income, you have to pay a lot of taxes and it is not a good investment and that you have better to rent it and buy invisible stocks/crypto instead. Because if new crisis comes (when) it will be harder to get your real estate, but much simpler to zero your digital assets.
Regarding real estate, I bought my first rental property long ago in the suburbs of Chicago, and eventually had 4 properties. Taxes became, IMHO, prohibitively expensive, and I sold them all, reinvesting in the SW USA, where I bought was able to buy more properties, with taxes around 1/4 to 1/3 of those in the Chicago area. And in the past 12 months, real estate values and rents have skyrocketed. So location plays an important role in real estate, again IMHO.
  • #2,009
  • Jul 17, 2021 10:44am Jul 17, 2021 10:44am
Quoting bilal1947
{quote} Yet the guy saying intra day is not possible thats strange. It seems They recorded the video giving a referesher lunch at a lavish hotel to newbies from newbies money to attract more newbies to join their courses, seems a good way to attract and catch new fishes.
The guy in the video sitting on the left of Anton is Tristan Edwards. With many years of experience in hedge fund trading. He clearly explained it to you why day trading does not work especially if you want to trade and earn for a living. There is no sales pitch here. They are teaching you to approach trading professionally, and they will charge for it. Just like colleges and universities do. But to each their own, if people want to sit here on FF and trade demo accounts, or make pennies for a living on "day trading", they can do that. It is everyone's choice. Or one can learn how to approach this business professionally and actually start making real money on trading. Money is made by sitting, not trading.


https://www.linkedin.com/in/atristanedwards


https://sg.linkedin.com/in/anton-kre...file_browsemap
  • #2,010
  • Jul 17, 2021 11:58am Jul 17, 2021 11:58am
Quoting RickM
{quote} Hi BWilliams What a load of crap designed to steer you away from a very simple money management plan that provides a regular income. You draw down on capital which gets topped up by your monthly winnings. Think about it. They are selling TRAINING Trader Tom's work is far better in my opinion. Cheers
Both Anton and Tom are hustlers and have planted their promoters in FF. That is OK.
Both want to sell their courses to effortless solution seekers.
Trading is an individual sports and need practising players.
Practice makes a person perfect
  • #2,011
  • Edited 12:36pm Jul 17, 2021 12:07pm | Edited 12:36pm
I will sell 1M for 3k. Greatest deal of all time.
Who are professional traders? Who trades for living/banks? Who sleeps while trading? Who eats while trading? Who has a lot of monitors?
Everybody has own definition. Nothing to argue. No point will be reached. Officially the thread is closed. Happy trading!!!
  • #2,012
  • Jul 17, 2021 12:27pm Jul 17, 2021 12:27pm
Quoting simnz
{quote} Both Anton and Tom are hustlers and have planted their promoters in FF. That is OK. Both want to sell their courses to effortless solution seekers. Trading is an individual sports and need practising players.
Anton sells courses..
Tom does not have any courses for sale nothing..
Nor can you pay him for mentoring etc.
And no im not a planted promoter.

Calling Tom a hustler is quite comical.

Its astounding the regurgitated misinformation on this site which is one of the reasons I rarely post here anymore. Far too many "experts"
Master your Mind,,,Master the Market
  • #2,013
  • Jul 17, 2021 12:39pm Jul 17, 2021 12:39pm
Quoting bluesteele
{quote} Anton sells courses.. Tom does not have any courses for sale nothing.. Nor can you pay him for mentoring etc. And no im not a planted promoter. Calling Tom a hustler is quite comical. Its astounding the regurgitated misinformation on this site which is one of the reasons I rarely post here anymore. Far too many "experts"
Better to be quiet, smile and move away from forums.
on a postive roll...
  • #2,014
  • Jul 17, 2021 12:45pm Jul 17, 2021 12:45pm
I read a lot of bs on forum. Nothing has changed. People are just dumb. Waste time posting.
Know what you trade
  • #2,015
  • Jul 17, 2021 1:45pm Jul 17, 2021 1:45pm
I worked in trading firm and I know why day trading is not possible. Because every step must be approved by big boss first. You can't open the trade just because you want. There are a lot of regulations and limits.

About all that mentors from youtube. Everything must have sense and purpose. What is the purpose to post videos and teach people how to trade successfully?
1. Advertisement (self, his fund, etc)
2. Direct course selling

Choose 1 or 2. Sorry, but purpose "he teaches because he loves people" is not an option.
Observer effect
  • #2,016
  • Jul 17, 2021 5:11pm Jul 17, 2021 5:11pm
Quoting RickM
{quote} Hi ric I have more funds in stocks then in the Forex or Futures markets. In Australia, dividend's offered by big company's are often around 5% and also are full franked so that's tax free and very easy money. I took half my funds out of Forex broker accounts in the middle of last year and brought Australia Bank Stocks after they crashed to about half their normal price. Its been my best trade I have ever undertaken and its still running as I speak with profits now in excess of $100K. Most of those profits will be cashed in by the end of...
Hey RickM,

I know I am typing in English. Why do feel that you need to brag about the accounts you have. That is not very safe. I am not asking for anything. I said you are doing a good job day trading and good luck. Is English not your first language? Are you trying to impress me/us or something? Are you trying to get me to say day trading is better? I dont think it is. I think it is the reason most people lose money and time and time again it is proven to be the worst way to trade for 80% of those who try it. If you are trying to impress me, I do not see the point in that. I am nobody to you.

None the less, good luck in all your trading.

- Ric
Be humble or get humbled
  • #2,017
  • Jul 17, 2021 5:14pm Jul 17, 2021 5:14pm
Quoting BWilliam
{quote} Why do you feel obligated to explain then furnish your financial details to some stranger on the internet ? Why do you have to show proof to absolute strangers ? The people who do that harbour commercial intent. If anyone is that naive, ignorant, stupid can't think for him/herself to be misled with bs then too bad.
Hey BW,

I am re-reading what I posted. What did I see to cause him to react like that? I 100% agree with you. The internet is not safe. This is not a secure site.

- Ric
Be humble or get humbled
  • #2,018
  • Jul 17, 2021 5:23pm Jul 17, 2021 5:23pm
Quoting RickM
{quote} Because being involved with trading forums has allowed me to meet and trade alongside some amazing people. ITS A LONELY LIFE BEING A PROFFESSIONALLY TRADER My wife, family, friends have no idea what its like - I need some buddies like Zoltan to support me on those dark moments when my trading goes wrong. That's more valuable to me than money, and I already have enough $$$ to quit tomorrow and join George on a fishing trip.
Hey RickM,

I do agree with you that trading is lonely. My family still does not fully understand what I do. Neither to my closest friends. I just tell people I am an financial analyst, which isn't untrue. That is the main reason I come and go on forums. I do get sick of it. Sometimes I need a break. Dealing with people who only see things one way is why more of us are not successful. That mixed with an unearned ego by all the wannabes and folks who are not willing to do the work that it takes to become successful.

- Ric
Be humble or get humbled
  • #2,019
  • Jul 17, 2021 5:43pm Jul 17, 2021 5:43pm
Quoting ryuryu
{quote} Never called anyone stupid. I'm stupid that is truth. I just say that I don't believe 400 lot size positions, I do not trust traders who do not trade, but teach. Don't believe that anyone can beat algos and money using rectangles and lines. It is clear for me. And I don't need to "learn" that. Because there is nothing to learn. To learn how to photoshop 400 lots? Or how to lie about 5% daily profit? What to learn? How to draw arrows on the history charts? Incredible stories of successful trading only impress newbies who want to get rich...
Hey ryuryu,

I love your honesty. I myself have no formal training. I have never worked in any type of finance or bank other than being a a telemarketing wank for half a summer at a mortgage broker. What a dreadful job. Everything I learned was from trial and error. It took 10 years to figure out what I was doing. I was fortunate enough to meet some good people along the way. I met a lot more fake people than real ones though. Anybody remember 4X Made Easy?

Nothing wrong with learning. I don't care if the person who teaches does not trade,most are like that. If the information is sound, and a trader does their do diligence, it should be fine. However, anyone who says they never lose or I double my account every month or what ever is full of BS. I go crazy If I get 35-50% overall in a year. That is amazing. It is also why we trade Spot Forex or Futures. The risk vs the potential reward.

I am glad to see that you vouch for RickM. More people should talk about the folks who help them. We all need help. Some in this forum forget there was a time they didn't know anything. I have been in this game 20 years and I am still learning and willing to learn. I teach when I come across someone who is ready to hear me but of course it is unlicensed and unprofessional. Just from my experience.

Thanks for the honesty. It is refreshing.

- Ric
Be humble or get humbled
  • #2,020
  • Jul 17, 2021 5:45pm Jul 17, 2021 5:45pm
Quoting ryuryu
I worked in trading firm and I know why day trading is not possible. Because every step must be approved by big boss first. You can't open the trade just because you want. There are a lot of regulations and limits. About all that mentors from youtube. Everything must have sense and purpose. What is the purpose to post videos and teach people how to trade successfully? 1. Advertisement (self, his fund, etc) 2. Direct course selling Choose 1 or 2. Sorry, but purpose "he teaches because he loves people" is not an option.
ok, still counting FF traders that work/worked in trading firms, financial institutes. I worked in IMF many years back while in New York.
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