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Is forex education misleading or everyone is stupid?

  • #121
  • Edited 8:58am Jan 15, 2022 8:29am | Edited 8:58am
Quoting ryuryu
{quote} Sure. Because it is impossible to earn >5% daily with the bullshit "strategy" he use. For example RickM can earn more than 5% for sure. But Profitfarmer never. It is just impossible not because of person but because of mathematics. If you are trading long-term you just can't open many trades and each trade last longer. So even if your winrate is 100% there will be no time to earn such a big percentage. Peter and Aussi are just scammers selling PDF to the newbies. Check how Aussi open 500+ lot size trades. Nothing to discuss, just scam.
Hi ryuryu

I better set the records straight for other readers out there. For other traders who don't know, I trade live every day scalping with Zoltan (profitfarmer) while also joining Ryan (ryuryu) for a bit of manic live trading around New York open.
I don't think you can rate a trader by their daily profit factor because it doesn't take into count their size of their equity account. Zoltan trades a very large account so only needs a few % profit in a month to obtain a wage, ryuryu on the other hand trades a smaller account size so therefore needs more than 5% a day to make the same money.

Personally myself, I can make 5% a day if I trade my smaller account but believe its safer to trade like Zoltan on a large account and just aim for 0.25% a day.

Account size is whats important.

Feel like trading some Gold next week ryuryu.
Trading thin liquidity at the boundary of the charts
  • #122
  • Jan 15, 2022 8:29am Jan 15, 2022 8:29am
Forex is not random for everyone. For the last 7 years or so, I pulled out money from all retail brokers I have tried, all of them. So, if I can do it with my certified IQ of 59 (less than the other ugly guy), then anyone can do it.

Forex is not random because human behavior is very predictable. Humans are 100% driven by emotions, fear, greed, hope, hate, excitement, love (just kidding for this last one…)…Their emotional brain is impulsive and always overrides the rational one, always. All political leaders know it, in all countries (where they are authoritative or supposedly “democratic”). They use human emotions of their human herd to keep it under control and dominate it. They can predict it. They also have their own “indicators” to help them in this task.

But if you see that stocks are easier to trade (which I agree with), why not just trade stocks or indices. Some retail brokers offer decent leverage on their CFDs if it’s the huge leverage that made you stick to Forex. At least in stocks and indices, you got a perfect edge which is long.

All the best.
Don't give up on your dreams. Keep sleeping.
  • #123
  • Jan 15, 2022 8:55am Jan 15, 2022 8:55am
Quoting heispark
{quote} Hi, Rick Thank you for details. It's somewhat different what you've told about EA so far in TMS thread. You've developed EA strategy for such a long time and how come you suddenly change to orderflow trader? How can this work? By the way, many professionals in Elitetrader.com say orderflow is loser's toy. Be careful. Let me be honest. I remember you have posted a live TE only once long ago and it miserably failed as far as I know. I read your excuse about it so don't need to repeat this. After reading your changing strategy and business...
Hi Heispark

No, I have never posted a live TE and never will. I am happy to explain why if someone asks.

I am still in New York trading till the end of the month, and yes trading does fund my business class travel.
But so what. Many people have good imcomes in many industry's and enjoy perks from their hard work. Due to Covid and the fear of travelling, I picked up two business class fares from Sydney to New York for $8K, thats not that much money is it really?.

Back to trading.

I said I still trade with EA's and nothing has changed here but I also trade the markets as a manual scalper and have found my profits now are far higher with a lot less effort. I use Motivewave with CQG data to provide me with Orderflow data thats displayed on footprint charts, its excellent. What the guys at Elitetrader may fail to realise is you need to have a strategy, before you can use orderflow. Without a strategy, orderflow is meaniless.

Why don't you jump on my Discord channel and I can show you some interesting things. Currently I am working with a trading called Naomi and this is what she wrote yesterday.

January 15, 2022

  1. Hey Rick, sorry to send in another message , but seriously, I am completely blown away by what you taught me... How is this even possible to get such accurate signals with volume. I am flabbergasted to say the least. Especially because , it kind of qualifies my personal signals and that makes the whole thing even crazier....
  2. I just want to thank You one more time, you're incredible!



I am not a guru, never claimed to be one. I have never asked for 1 cent from any trader when offering advice or working with them.
I have been trading stock markets for 30 years, Forex for 20 years, so I think I know whats bullshit and whats not.

Trading thin liquidity at the boundary of the charts
  • #124
  • Edited 10:08am Jan 15, 2022 9:54am | Edited 10:08am
Quoting RickM
{quote} Hi Heispark No, I have never posted a live TE and never will. I am happy to explain why if someone asks. I am still in New York trading till the end of the month, and yes trading does fund my business class travel. But so what. Many people have good imcomes in many industry's and enjoy perks from their hard work. Due to Covid and the fear of travelling, I picked up two business class fares from Sydney to New York for $8K, thats not that much money is it really?. Back to trading. I said I still trade with EA's...
Perhaps, you totally forgot about your TE....
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Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #125
  • Jan 15, 2022 9:58am Jan 15, 2022 9:58am
Quoting RickM
{quote} Why don't you jump on my Discord channel and I can show you some interesting things. Currently I am working with a trading called Naomi and this is what she wrote yesterday. January 15, 2022 Hey Rick, sorry to send in another message , but seriously, I am completely blown away by what you taught me... How is this even possible to get such accurate signals with volume. I am flabbergasted to say the least. Especially because , it kind of qualifies my personal signals and that makes the whole thing even crazier.......
If you can give me an access to your Discord channel, I'd really appreciate it!
I was also once a big fan of orderflow and footprint stuff years ago and tried many things including Bookmap. However, it didn't take long time before I finally realized they are total BS. Just like normal volume, they are lagging or concurrent at best. They don't have any power to predict future. Let me see if you can change my view.....
Last thing I don't understand is, if you have any winning edge, why do you expose your edge to other people risking your edge being neutralized? You know what I mean.
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #126
  • Jan 15, 2022 10:28am Jan 15, 2022 10:28am
Quoting heispark
It looks you are making things overly complicated. Market is NOT random. The following chart is daily Natural Gas futures chart. It religiously respects 50 and 200 EMA. How can this be random? {image} If it's random, how the following guy could have made profit consistently for more than 5 years? This guy is ranked to Top in fundseeder.com (similar to myfxbook.com). This is verified performance. {image}{image} Most people fail because they play with Forex or stock indices. Read the following post from someone else: {image} Try energy or grains futures,...

Heispark hello.

The moving average is the one respecting the historical price chart, so does all other indicators. Not the other way around.

Weather forecasting is accurate to some degree...sooo we can say it's profitable to predict the random weather?

I didn't say it's impossible to be profitable altogether, I said it is impossible using candlesticks chart or all other indicators that'll analysis historical data.

Cheers mate
  • #127
  • Jan 15, 2022 10:31am Jan 15, 2022 10:31am
Quoting heispark
{quote} If you trade less than one lot (10,000 unit of currency), your counter party is always your broker.
This is not true Heispark. I don't think these kind of brokers are still in business anymore

It was true back in 2008 or even 2010 but not anymore because it's a hell of a conflict of interest and I don't think anyone fall for those kind of brokers anymore.
  • #128
  • Jan 15, 2022 10:43am Jan 15, 2022 10:43am
Quoting danos
{quote} Hello captalTrader, sorry for being a bit off-topic with this reaction. But I must admire that I like seeing someone at FF trying a different approach, instead of endless looking at historical price charts and looking for patterns. You said that you could elaborate on your "probabilistic tick system" in different thread, if so, please do it and ignore this message, I'll reply there, so we do not spam it here. Anyway, few years ago, I tried to use the tick data predict future price movements in FX. I used similar approach on cryptocurrency...

Finally

Sir honestly I had lost hope I'd get this kind of question anymore.

Ok so there's a great article I'll recommend you to read regarding accuracy of ticks and charting of charts, particularly of MetaQuotes on how impossible it is to record 100% all ticks.

Now to my approach. I take incoming ticks as they come, doesn't matter the accuracy, the icing is on the probabilities and risk calculation algorithm. Basically I play the house of casino.

Downside for now is the accuracy of calculation, small deviations rather all algorithm calculations useless. Example I can't have suddenly have swap added to the costs... I'll write a detailed article on this but I believe you will grasp it pretty easily and I hope it will be valuable to your own research.
  • #129
  • Jan 15, 2022 10:46am Jan 15, 2022 10:46am
Quoting Lest
{quote} The number of orders Aussi (455... ) comes from the ICMarkets demo account so you can afford it open 500+ lot size.{image}

Are you making funny of the fact that he's using demo?

Why?
  • #130
  • Jan 15, 2022 10:46am Jan 15, 2022 10:46am
Hi guys maybe someone can help me out to answer my couple dumb quetions, i never asking this on another thread because i was afraid to get bullied, but i think this thread is relevant so..

Since i was starting to trading forex, i always thinking in my mind couple of questions that i never solved or find the answer

1. Who is the creator of market, because its'nt naturally showing up in this world, right ?
2. Is there any machines (hardware) they are use to running price all these time ? I believe they using some tech because we as trader can doing online transaction to trade
3. Where they hide the machine, and who the maintainer is and how they set the algorithms

This thread starting hot
just passing through, thanks
Using Chaos to Finding Order
  • #131
  • Jan 15, 2022 10:52am Jan 15, 2022 10:52am
Quoting Thoughts
{quote}Our friend has a bit to learn, the sad part is I'm not sure he'll appreciate your information; and that's because of pride...he is going about his discourse like everyone is stupid . I'm not saying he has nothing to offer, but it does take a bit of maturity and actual technical understanding to see the value in different market paradigms.

You're still here. Why?

I'm 100% sure I have nothing to offer you. 100%! No hard feelings but I understand that it's harder for people to unlearn than learning.

Let this one pass because you'll never make me believe that a simple concept like a market have paradigms... That's for motivational speakers
  • #132
  • Jan 15, 2022 10:56am Jan 15, 2022 10:56am
Quoting Brixton
{quote} There was nothing random about the USD declining this week and breaking below an 8 week range. It was driven by news and data. Mechanical systems only work when the user knows which market conditions will provide that system with an edge. Forex is not random when you understand the underlying fundamentals.

What is really driven by data and news though? Did the news stop making USD buy orders or it was people?

People reacted to news and stopped buying USD?

If similar data or news happen again will the USD decline in a similar manner again? Can I wait for that moment in future and place million dollar orders and be rich?
  • #133
  • Jan 15, 2022 11:01am Jan 15, 2022 11:01am
Quoting RickM
{quote} Hi Heispark I still trade EA's but they don't provide me my main source of trading income. They are far too time consuming to build and test with less than 1% of them ever obtaining any decent long term profitability. Therefore in takes 10,000 hours of work testing EA's 24/7 just to find one EA that's even acceptable to trade. Life is short, there are better ways to be profitable. Honestly trading the New York open for a rwo hour period looking for trades in an NOT random spikes in a market designed to look random is far more profitable...



Forgive me for my trauma but you sound like typical Forex scammer right now I'm so sorry please find in your heart to forgive me
  • #134
  • Jan 15, 2022 11:06am Jan 15, 2022 11:06am
Quoting heispark
{quote} Hi, Rick Thank you for details. It's somewhat different what you've told about EA so far in TMS thread. You've developed EA strategy for such a long time and how come you suddenly change to orderflow trader? How can this work? By the way, many professionals in Elitetrader.com say orderflow is loser's toy. Be careful. Let me be honest. I remember you have posted a live TE only once long ago and it miserably failed as far as I know. I read your excuse about it so don't need to repeat this. After reading your changing strategy and business...


Dude! There's no real Guru's
This was funny mate
  • #135
  • Jan 15, 2022 11:06am Jan 15, 2022 11:06am
Quoting captalTrader
{quote} Heispark hello. The moving average is the one respecting the historical price chart, so does all other indicators. Not the other way around. Weather forecasting is accurate to some degree...sooo we can say it's profitable to predict the random weather? I didn't say it's impossible to be profitable altogether, I said it is impossible using candlesticks chart or all other indicators that'll analysis historical data. Cheers mate
Hi, there
Major MAs such as 50 and 200 EMAs are something all the major players are watching closely. It works perhaps because it has self-fulfilling prophecy. When you watch Bloomberg TV, you can see they are mentioned often. Weather forecast in a big picture is not random. You know it becomes cold at winter and it becomes hot at summer. People expect nat gas demand increases in winter and summer and deceases in spring and autumn. That's not always true but predictable enough to make money. The following picture is a historical nat gas calendar spread chart. You can make money from a analysis of historical data.
Attached Image (click to enlarge)
Click to Enlarge Name: 2021-12-20_16-10-24.png Size: 1.3 MB
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #136
  • Jan 15, 2022 11:09am Jan 15, 2022 11:09am
Quoting captalTrader
{quote} This is not true Heispark. I don't think these kind of brokers are still in business anymore It was true back in 2008 or even 2010 but not anymore because it's a hell of a conflict of interest and I don't think anyone fall for those kind of brokers anymore.
I don't think a liquidity provider such as Deutsche Bank would take your 0.01 lot bid.......
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #137
  • Jan 15, 2022 11:11am Jan 15, 2022 11:11am
Quoting Pram808
Hi guys maybe someone can help me out to answer my couple dumb quetions, i never asking this on another thread because i was afraid to get bullied, but i think this thread is relevant so.. Since i was starting to trading forex, i always thinking in my mind couple of questions that i never solved or find the answer 1. Who is the creator of market, because its'nt naturally showing up in this world, right ? 2. Is there any machines (hardware) they are use to running price all these time ? I believe they using some tech because we as trader can doing...
There is no problem asking questions. Problem is when people post fairy tales.

In my opinion

1. Market movers are big players. Big money.
2. They are using finest hardware and software and deluxe algos.

As I see the market works this way. There are several phrases. I don't know what first what second like chicken and egg, but for example
1. ranging market. There are no big players around. They are waiting for small retail traders to place their orders. That's why there are no big movements. People just play with each other. But as a result there are increasing amount of stops around. Each position has its stop level. Even if you didn't place your stop loss there are stop loss anyway - stop out level or liquidation price.
So the big player wait when there will be enough liquidity places.
2. trending market. In this phase big player come to the scene. There are several types of orders - FOK or GTC. Fill or kill or Good till canceled. There are another type of orders too, but for our example these two are ok. So big player use FOK order to check the stop levels and the liquidity amount. As you can see on flat market there are always some wicks both ways. They are "checks". After they checked the thing they decide where tu push the button. The question is "where"? The answer is "where it is cheaper". For example you need 10 mil coins to push the price higher or 20 mil coins to push lower. Then they will push it lower. It look simple but it is not. So next there will be huge movement the direction they have chosen.

I must say that phase #1 can be not only position building, but also the disctibution for big player. Where they are closing their positions using small orders.
Why I know how it works? Because on late crypto there were one exchange where it was possible to create FOK market order and there were no check on amount. So you can have 100$ on you account and create 10 mil$ order to check the stop liquidity. That was very funny and that issue was fixed very fast. But that information was extremely important and let us understand how market works.

p.s. forget to say about cascade stops. That's why price jumps. Once stop levels are triggered they start to trigger any limit order around that match it, and it works like a snowball that rolls down the mountain, getting bigger and bigger.

Quoting heispark
{quote} Hi, there Major MAs such as 50 and 200 EMAs are something all the major players are watching closely.

aaa please stop
Observer effect
  • #138
  • Jan 15, 2022 11:12am Jan 15, 2022 11:12am
Quoting captalTrader
{quote} Dude! There's no real Guru's This was funny mate
What funny? 'Real Guru' is opposite of Fake Guru (Furu).....
Speaking like a guru doesn't mean he/she is a real guru. They don't have balls to post any live calls. Tekkies is a net loser as a trader and half crazy but I highly respect his gut to post live TE (which is of course blown off).
Inserted Video
Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #139
  • Jan 15, 2022 11:16am Jan 15, 2022 11:16am
I respect everyone's opinion while putting forth the effort to learn. However, the only advice you should take is from people who have a proven record of success. For this site it means posting a trade explorer. In other social trading sites the trades & statistics are posted as well.

By the way, if you received an email from Forex Factory requesting you click on an email link to verify your account, don't do it! It's a phishing email.
  • #140
  • Jan 15, 2022 11:26am Jan 15, 2022 11:26am
Quoting ryuryu
{quote} {quote} aaa please stop
Although you speak like a guru and pretend like a guru, your trading and market knowledge is heavily biased and limited. Any experienced traders know that.
Simplicity is the ultimate sophistication - Leonardo da Vinci
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