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Forex Education 77 replies

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Attachments: Is forex education misleading or everyone is stupid?
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Is forex education misleading or everyone is stupid?

Quoting tommydoginti
I do believe the market being chaotic means the footprint can be traced and traded with statistical edge. I just think the knowledge is so valuable no one would teach it in detail. However the truth is when generalizing the detail strategy to something comfortable to be shared, the content becomes so generic, therefore seemingly the "education" is misleading to be trivial and easy, but not really wrong or lie. (I do not rule out possibility of presence of scammers, theirs are all lies) Dunno if you have learnt any specialty skills. But say driving,...

How many trade ideas does this represent? I'm curious. I have 110 closed trades it says, but that's only been 20 ideas, since I've been trading multiple lots.
Focus on what DIDN'T happen
Quoting FourBarsBack
{quote} How many trade ideas does this represent? I'm curious. I have 110 closed trades it says, but that's only been 20 ideas, since I've been trading multiple lots.
1 each.

I don’t build positions. Maybe in future can consider.
Hence the modelling can be done and be more relatable to actual situations
Quoting tommydoginti
{quote} 1 each. I don’t build positions. Maybe in future can consider. Hence the modelling can be done and be more relatable to actual situations
So you have taken 500 trades since the beginning of the year. Seems like a lot, for me anyway. Good luck man, hope it works out for you.

If I may be honest, I'm not that into these trade statistics. So I don't know what the all mean, or how to interpret them.
Focus on what DIDN'T happen
Quoting tommydoginti
{quote} This is not very surprising when look at statistics. Been recording my entries and mapped out potentials of the trades, i.e. projecting R:R ratio and find out if the trade would have won/lost. Limitation being only set-and-forget SLTP is modelled (I don't believe hindsight adjust of SL) The inverse correlation of average R:R and win rate is pretty solid. Now add in trade management that will set exits (either TP/SL) at BE+ (e.g. 1 pip). That trade would be a "win" defined by myfxbook, but profit is minimal. Result is the actual rate vs RR...
Interesting.

Still, can I please see your Equity Vs Balance chart though
I almost gave up saying the market is a scam after reading an article on market makers. But something struck on me and it seems to me that truly forex education misleads from the main thing to look out for to succeed. I am presently on a journey and will share updates in 2 weeks time
Profitable Business Buys lows and Sells highs
Quoting captalTrader
I'm not going to try and argue with believers anymore. You just can't win!!!! If you argue with what I'm saying about the Forex market, and If you say your levels or whatever you use to BE PROFITABLE works. Just post a link to your 90 days worth of data. That's all and you win!!! Stop posting your 'strategies' here please or long beliefs about the market, try to stick to facts I beg
Interesting thread this.
Has to be profitable and make certain criteria, then maintain the criteria.
Have often spoken to Zoltan, a very clever guy, real trader.
He's happy to share his experience with forex, hence his thread.
He trades live for a living, this thread with Axi Trader is a side venture for him just to prove that real funding can be achieved.
You can argue all you like, he's the real deal.

https://www.forexfactory.com/thread/...0k-funded-acct
Quoting captalTrader
Introduction I am a programmer; I was introduced to forex market by a client in 2015. After studying the markets I then published an EA on the mql5 market August 2016, sold just 5 copies and rented 10 copies for one month only, because I believed then that too many users will affect EAs performance so I removed it from the market. It was a night trading EA as my research back then showed that the only profitable strategy was night trading. There was one best selling night trading EA back then, tried searching it but couldn’t find it. It was performing...
Pls contact me on WhatsApp I have something to share with you,+2348133868334
Quoting Standfirm
{quote} Pls contact me on WhatsApp I have something to share with you,+2348133868334
I don't use WhatsApp. Do you have telegram?
Scary stuff
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Quoting captalTrader
Scary stuff {image}
Indeed with 21.3% drawdown.
Anything above the line is an uptrend, below the line is a downtrend.
Quoting captalTrader
{quote} What is your end game with your charts? Are you trying to prove that you can predict the future? If so, just post stats of how accurate you've been for the last 90 days. Easily post a link to your monitoring account would have saved you a lot of screenshoting and uploading photos. Helps to keep this thread about discussions. We don't want to turn it to a journal now or even worse... A trading strategy thread, argh! Work smart not hard Stop with the chart posting
I post what I want to.

In this case, I am not posting anything else.

Bye. You are added to my block list.
Quoting FourBarsBack
Agree, too many charts. Too many levels. Too much information.
Yes, this is for intelligent people who can think a few minutes without getting their brain saturated by a few details.

I am leaving this shit of FF for good.
Quoting scherzi
{quote} I post what I want to. In this case, I am not posting anything else. Bye. You are added to my block list.

Quoting scherzi
{quote} Yes, this is for intelligent people who can think a few minutes without getting their brain saturated by a few details. I am leaving this shit of FF for good.
I am sorry if you took it personally, but that's my opinion. Good bye and good luck.
Focus on what DIDN'T happen
Quoting scherzi
{quote} Yes, this is for intelligent people who can think a few minutes without getting their brain saturated by a few details. I am leaving this shit of FF for good.
Feel sorry to say that but, it sounds like the sarcasm of a sick ego
BN
Quoting FourBarsBack
{quote} So you have taken 500 trades since the beginning of the year. Seems like a lot, for me anyway. Good luck man, hope it works out for you. If I may be honest, I'm not that into these trade statistics. So I don't know what the all mean, or how to interpret them.
I agree with you on trade frequency. I have reduced the trading frequency significantly since mid 2021. So far it shows possibly better than my original frequency.

I think statistics is a helpful skill in trading in both strategy and performance evaluation. If not done that I wouldn't be able to distill the setups and knowing the change in performance. If there is only 1 skill I can have for trading, that would be it.

Quoting captalTrader
Scary stuff {image}
ROI is 5x in less than 4 months looks good (100% vs 20%). The DD% is just a function of risk tolerance, but ROI is a function for performance. I reckon this is your EA mentioned in post #1?

I don't want to turn this thread into a journal or trading system thread too. I think you have made your point in trading education. I do think the legit ones, although generic, are actually useful and when look back after gaining success and experience in trading IMO.
But just like any other skills, it is ultimately down to one's interpretation of the contents and how to apply them. I don't think anyone would be sharing their strategies down to single steps on forums or cheap courses, this is very expensive information.

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Something gives me supportive information on chaotic market, and I believe your approach is feasible: Probabilistic mathematic models.

Good luck in your journey to profitability
Quoting sinqua
Yes. Forex education is misleading. Actually it isn't, it's doesn't exist...no one is taught how to trade. Its dive-in sink/swim. Forex education should be taught like engineering is taught. As far as successful trading is concerned most winners have no incentive to talk seriously on forums. Since 2009 my BS detector has counted about 8 guys who I can bet are profitable. There are a million ways to skin this cat and no two styles are alike like no two chefs are alike. A lot of statements here I consider misleading (or incomplete) but I don't have...
IMO I think one topic I do not agree totally is CUT YOUR LOSS FAST.

Of course it is very important to CUT LOSS but the FAST can be misleading. I believe there are ways to manage risk, cut loss when there is opportunity and PATIENCE is also important. Approaches like setting a relaxed SL and small lot size, and use TP as a BE or loss minimization are also feasible, but I don't see many "Forex Teachers" mentioning these.

They mostly just tell you to close the losing trades at worst drawdown FAST, but not giving price a chance to pull back and CUT LOSS
Quoting captalTrader
You just can't win!!!!
Absolutely right! You cannot win. Imagine you are fighting on the ring vs well equipped, every day training Taekwondo fighter. But all you have is pants on, extra fat, extreme laziness and strong belief that you can beat him because there are some lines and rectangles drawn somewhere.
Then you say future can't be predicted
Observer effect
Quoting captalTrader
You just can't win!!!!
this is awesome! because if you know how you cant win then do oposite and will win

I saw this idea already somewhere here in ff... do not pretend to be an inventor. But here it is:

We all who code EAs know that over-optimization is bad. Strategy is simple - develop stupid EAs, overoptimize and run with reverse logic.

Here I made one such dumb EA - when price run n pips open reversal deal. fixed SL and TP.

Here optimized 2019 - 2020 - best-overoptimized setup (looks promising, right? ):

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Ok try to forward test this on 2020 - 2021 (unknown future for this setup - but we had a bright past for 2020 - so give it a try):

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ups... fail... wow, what a "surprise" because we have an overoptimized setup... "EAs not working" right?

And here we run that setup but with reverse option - instead of BUY open SELL - on 2021 year (keep in mind - this is valid forwardtest because EA dont know future here - and will run with unknown data):

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wow wow.. what we see here ... instead of account blowout we have 125% yearly profits

we all are masters how to lose money - lets use that skill with reverse anti-strategy
https://vm.tiktok.com/ZML4ddBvD/
I think you need to know what the valueof something is, not just it's price.. The hard part is, no one is going to give you the model that does that. *And yeah for FX who knows, it admittedly might not exist?

But EX for company valuation - I know the parts that go into that. I know how people are already pricing things. I know what I think they are not accounting for but what makes a difference. AND I know how to trade... (well not 100% sure I do YET, but...) So one basically can get the "floor price" to trade around... which should give you a GREAT DEAL (if it hits that).

But it's basically that people are "building trading models without having value models" - trading is the tool you use to lock in a "probabilistic value", a good deal. Price is what you pay. Most people will just trade at any price using commonly coded tools, don't use trading tactically as a tool... so... AKA yeah you right, the INDI and EA industry just gonna sell that, because the more often the trade, the more they make. Brokers and FIN markets also love this, since dumb speculators being willing 24/7 make the "market more deep", and enable them to be able to grab some great hedges

and yeah, I think TONS of people don't get this.. because they never bother to dig deeper than the "it's money yo"! stuff, and to think for themselves on how to model the value of the things they buy, sell, and invest in.

Think about it: if you were in any other business - say selling oranges. Wouldn't you figure out when an orange is cheap versus when it is expensive, and in general when/why that happens? *And also just in general, if you don't know this bolded part, then you can't reliably make a profit.
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