The brutal truth of day trading | Page 158 | Forex Factory

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The brutal truth of day trading

  • #3,141
  • Aug 13, 2021 12:20pm Aug 13, 2021 12:20pm
Quoting bilal1947
{quote} USD vs GBPUSD made a LL rather a HL {image} GBPUSD vs EURUSD - made a HL {image}
believe me this approach in the long run is not the right way to go.
it has already been tested.
but it is not obligatory to believe.
  • #3,142
  • Aug 13, 2021 12:21pm Aug 13, 2021 12:21pm
Quoting scherzi
{quote} I think that it is not only either a matter of absoluter or relative pips or money in terms of a static picture. One needs certain consistency and repetition. The key is when one finds a repetitive event in markets, when you can visualize it clearly and spot the small details that validate that (or those) event (or events); then you have the first piece. The second piece is to develop a professional attitude and wait for it to happen iof gambling each time you see something that could be profitable in your opinion. And after the above, money...
THIS!!

This right here sums up what chart trading is all about. Recognition of a repetitive pattern, fine tuning the identification process ( by using chosen filters) to see if one can eliminate a few of the certain losses that will come by and finally as Scherzi said, repeating the process each day with conviction, discipline and patience.


Whether we like to admit it or not, we all trade repetitive patterns, be it volume analysis, S&R, S&D, market sentiments etc.
No one just wakes up, turns on the PC/Mobile Phone, gets into MT4, opens a chart and just clicks on a Buy button.
We look for patterns that we've seen work in the past...

The so called "edge" is simply finding that pattern that will work more times than it won't.

OR- (The Risk:Reward haters like Ryu won't like this one)

Finding a pattern that may not win as much as it loses but the reward per win comfortably outweighs the loss per trade to the point that the trader still comes out with a solid cumulative final profit at the end of a given trading period.

In the end, all the matters is the money realized..... The "How" can kiss my ......
  • #3,143
  • Aug 13, 2021 12:55pm Aug 13, 2021 12:55pm
Quoting PeterCaleb
Here's what I will say to all this ..... "If I took half your brain out of your skull, could you STILL think and trade somewhat successfully and consistently? (YOU not an EA etc) Without stupid pointless arguing, everyone knows the answer to this question. Probably not. It's EXACTLY the same with trading. Why do you think people burn out, give up or simply run out of usable $$$ for their trading? So I don't see how, IF, people are sticking to the basic truth of the above example, they are misunderstanding or miscalculating the necessary importance...
Peter.
instead of a lot of bullshit, look for the real trading thread. visit the real trading thread and upload some live trades.
  • #3,144
  • Edited 1:19pm Aug 13, 2021 1:00pm | Edited 1:19pm
Quoting Koop
{quote} THIS!! This right here sums up what chart trading is all about. Recognition of a repetitive pattern, fine tuning the identification process ( by using chosen filters) to see if one can eliminate a few of the certain losses that will come by and finally as Scherzi said, repeating the process each day with conviction, discipline and patience. Whether we like to admit it or not, we all trade repetitive patterns, be it volume analysis, S&R, S&D, market sentiments etc. No one just wakes up, turns on the PC/Mobile Phone, gets into MT4, opens a...
Was just about to write a similar post

Agreed 100%

I was shot down by someone about repetative patterns the other day because they had done 1000,s of back testing of patterns on MT4, all i have to say to that is i would of loved to have seen the code for each pattern in the .mql files that can be better than the human brain

Of course i am not saying there isnt software out there which could not do it

Anyway I’ll finish off the week with a nice percentage

8.2% if West Country Cider

Attached Image (click to enlarge)
Click to Enlarge Name: 4DEE769B-BF9C-4909-AB12-198719F66638.jpeg Size: 3.5 MB


Cheers and have a great weekend all
  • #3,145
  • Aug 13, 2021 1:27pm Aug 13, 2021 1:27pm
Quoting Koop
In the end, all the matters is the money realized..... The "How" can kiss my ......
Koop, real traders only care about the money.

Tag your post somewhere prominent that all members get to read.

Cheers, enjoy your weekend people.
Know what you trade
  • #3,146
  • Aug 13, 2021 8:41pm Aug 13, 2021 8:41pm
Quoting tiborf71
{quote} Peter. instead of a lot of bullshit, look for the real trading thread. visit the real trading thread and upload some live trades.
Attached Image
Real Trading is not gambling.
  • #3,147
  • Aug 13, 2021 11:48pm Aug 13, 2021 11:48pm
Some have messaged and asked for my EA haha People asking me to just send them my EA remind me of this beggar.
Inserted Video
  • #3,148
  • Aug 13, 2021 11:53pm Aug 13, 2021 11:53pm
Quoting PeterCaleb
{quote} {image}
I suggest you open a demo account and start trading at last.
  • #3,149
  • Aug 14, 2021 12:00am Aug 14, 2021 12:00am
Quoting PeterCaleb
{quote} {image}
from me you can be any red star until I see a live trade from you, you will always be a beginner to me.
  • #3,150
  • Edited 2:03am Aug 14, 2021 12:54am | Edited 2:03am
Quoting kette
{quote} who trades with mt5 (not mt4) this is free of charge DeltaRiver.Pro MT4/MT5 - Beta Project Running {image}
thanks for sharing,but there is problem with DeltaRiver, my antivirus say that in files is virus,I doubt that its safe to download it,seems good software but I am afraid to download it
edit: now I installed ATAS its working great,they offer 14 days free trial
  • #3,151
  • Aug 14, 2021 2:10am Aug 14, 2021 2:10am
Quoting gepards
{quote} did my best. you read my posts. .
Dear Gepards,
Generally, I do not intend to discuss anything, I expressed my concerns and justified them. If I am wrong, sorry is my fault, but this is how I perceive your posts.
I'm not any guru, I don't even call myself a trader, I'm learning, I'm just trying to think logically. I don't often write on FF because I don't have anything to write about. Here on FF 90% of the texts are stupid verbal scuffles in which I do not want to participate anymore.
I even compiled a list, a long list of Hedge Funds that have gone bankrupt, an even longer list of banks that, as the governments believed, needed to to be bailed out (with taxpayers money, of course) to keep them going. Some of them multiple times. The longest list turned out to be the list of insurance companies. Even for me a bitter sceptic, its length terrified me, and this data only applies to the USA.
Finally, I don't understand why folks need these... red diamonds ... diamonds are used by FF to increase click-throughs and ad revenue. Normal business. The Red Diamond award process itself is based on the STATISTICS. And the statistics don't tell you about the quality of the content. There is only a presumption that the content is wise. But wisdom is rare. Number of likes or followers does not decide who is wise. It is of course a kind of filter, but it is a weak filter. Based on crowd opinion.

Have a nice weekend
  • #3,152
  • Aug 14, 2021 2:16am Aug 14, 2021 2:16am
Quoting ficibald
{quote} If you trade demo accaunt. You can go to demo shop and buy demo food
Another blocked account...

Please, keep your testosterone for yourself, I am not going to discuss these stupid things here.
  • #3,153
  • Aug 14, 2021 2:27am Aug 14, 2021 2:27am
Quoting BlackNapkins
{quote} Dear Gepards, Generally, I do not intend to discuss anything, I expressed my concerns and justified them. If I am wrong, sorry is my fault, but this is how I perceive your posts. I'm not any guru, I don't even call myself a trader, I'm learning, I'm just trying to think logically. I don't often write on FF because I don't have anything to write about. Here on FF 90% of the texts are stupid verbal scuffles in which I do not want to participate anymore. I even compiled a list, a long list of Hedge Funds that have gone bankrupt, an even longer...
as you say, wisdom is very rare on ff sites.
  • #3,154
  • Aug 14, 2021 2:31am Aug 14, 2021 2:31am
Quoting BlackNapkins
{quote} Dear Gepards, Generally, I do not intend to discuss anything, I expressed my concerns and justified them. If I am wrong, sorry is my fault, but this is how I perceive your posts. I'm not any guru, I don't even call myself a trader, I'm learning, I'm just trying to think logically. I don't often write on FF because I don't have anything to write about. Here on FF 90% of the texts are stupid verbal scuffles in which I do not want to participate anymore. I even compiled a list, a long list of Hedge Funds that have gone bankrupt, an even longer...
All the hedge funds I have checked and the porftfolio management literature is based on the supposition that prices are going to move up.

They do not use swing trading. And very rarely they guarantee a minimum net positive return on equity securities.

For me, all the above implies a few things:

  1. Hedge funds don't know when prices are going to decline.
  2. If they don't know when prices are going to decline, then, they don't know when prices will move up neither.
  3. If they do not guarantee a minimum net positive income, then they do not have a tested system.
  4. If they do not have a tested system, then they are gambling.

Then probably they will include in their commercial materials a message like "this is not an invitation to invest, past results do not guarantee future results, etc..."

For me, a product that contains all the above is a scam.

  • #3,155
  • Aug 14, 2021 2:34am Aug 14, 2021 2:34am
Quoting scherzi
{quote} All the hedge funds I have checked and the porftfolio management literature is based on the supposition that prices are going to move up. They do not use swing trading. And very rarely they guarantee a minimum net positive return on equity securities. For me, all the above implies a few things: Hedge funds don't know when prices are going to decline. If they don't know when prices are going to decline, then, they don't know when prices will move up neither. If they do not guarantee a minimum net positive income, then they do not have a tested...
i think you also have the special and well-functioning filter for such cases.
I hope it works well.
  • #3,156
  • Aug 14, 2021 2:59am Aug 14, 2021 2:59am
Quoting tiborf71
{quote} i think you also have the special and well-functioning filter for such cases. I hope it works well.
I don't understand your answer. Filter for hedge funds?

However, the assessment seems personal. Please avoid personal references to me. I do not like it.
  • #3,157
  • Aug 14, 2021 3:04am Aug 14, 2021 3:04am
Quoting scherzi
{quote} I don't understand your answer. Filter for hedge funds? However, the assessment seems personal. Please avoid personal references to me. I do not like it.
I see that you are just guessing, I assume you have your own idea of the end development.
  • #3,158
  • Aug 14, 2021 3:05am Aug 14, 2021 3:05am
Quoting ohyeah
Some have messaged and asked for my EA haha People asking me to just send them my EA remind me of this beggar. https://www.youtube.com/watch?v=8gaJbR74ZvM
Lol.

When you say you are a programmer, people contact you to ask you to code stuff for them for free.

It is quite pathetic.
  • #3,159
  • Aug 14, 2021 3:13am Aug 14, 2021 3:13am
Quoting tiborf71
{quote} I see that you are just guessing, I assume you have your own idea of the end development.
Yes, I have no idea of how these funds are working. So it is just a guessing. You are right.

Regarding points 3 and 4 I am expert on that part, so not just guessing.
  • #3,160
  • Aug 14, 2021 4:40am Aug 14, 2021 4:40am
Quoting tiborf71
{quote} from me you can be any red star until I see a live trade from you, you will always be a beginner to me.


You're wasting your time with me Toadie. I don't have any interest in jewelry or decorations, nor like/dislike or buddies, subscribers or subscriptions nor any of the other distracting functions on this site. If you look at my activity history, I have never liked or disliked anyone's post. I'm sure to YOU, a live trade is "fascinating", "illuminating", "enlightening", "insightful", "educational" etc etc etc. But to me, it's just a day at the office. So really, I'm not in your league and you're not in mine.

"Learn or don't learn." Either way, it's up to you. It's not my account.


Cheers.

Peter
Real Trading is not gambling.
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