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  • #1,215,761
  • Jun 7, 2022 12:19pm Jun 7, 2022 12:19pm
This is my final farewell. After 22 years I found the holy grail. Not easy but possible. Keep up the good work my pupils and I wish the best for everyone.

Greeting
POSTMASTER
  • #1,215,762
  • Jun 7, 2022 12:39pm Jun 7, 2022 12:39pm
Inserted Video


^ There it is.

Well here is a question, how much time can someone reasonably spend looking at charts on multiple time frames and watching price movements, if they have to earn money to live?

Imagine spending all day looking at charts and coming away with - a loss... wow. That's worse than a waste of time.

I think that the returns would have to be at least as good as having a job. I am terrified of growing old and stacking shelves for a living in my 50s. But it's either that or learning computer programming inside out. I think that trading is not viable.
  • #1,215,763
  • Jun 7, 2022 12:47pm Jun 7, 2022 12:47pm
Quoting JauntyLoon
https://www.youtube.com/watch?v=VScSEXRwUqQ ^ There it is. Well here is a question, how much time can someone reasonably spend looking at charts on multiple time frames and watching price movements, if they have to earn money to live? Imagine spending all day looking at charts and coming away with - a loss... wow. That's worse than a waste of time. I think that the returns would have to be at least as good as having a job. I am terrified of growing old and stacking shelves for a living in my 50s. But it's either that or learning computer...
there is a misconception pro traders make millions or 100thousand plus. yes many do but they are working with 7 figure accounts. to trade for a living being retail you only need to make £500 per week or $ or eur depending on your country. If you make lets say £600 in a week you need to pay yoursely EOW so that leaves and extra 100 building your account. so at £1 a pip you need to make 500pips each week, its more than achievable just stick at it. £2 a pip you onlt need 250pips etc

i was just using £500 as an average UK wage.. it might be slightly more or less, but would rather trade as work any job
  • #1,215,764
  • Jun 7, 2022 12:57pm Jun 7, 2022 12:57pm
Quoting Robinhood1
This is my final farewell. After 22 years I found the holy grail. Not easy but possible. Keep up the good work my pupils and I wish the best for everyone. Greeting
I found the holy grail.
And it is not trading Forex, right?
To free Gazans of Hamas, use whatever it takes.
  • #1,215,765
  • Jun 7, 2022 1:00pm Jun 7, 2022 1:00pm
Quoting DrDave
{quote} I found the holy grail. And it is not trading Forex, right?

LOL.
  • #1,215,766
  • Jun 7, 2022 2:12pm Jun 7, 2022 2:12pm
Quoting Robinhood1
This is my final farewell. After 22 years I found the holy grail. Not easy but possible. Keep up the good work my pupils and I wish the best for everyone. Greeting
You should check in from time-to-time and see if your pupils have made any progress without you.

And also, so that you can buy everyone a round with your new-found wealth.
To free Gazans of Hamas, use whatever it takes.
  • #1,215,767
  • Jun 7, 2022 6:12pm Jun 7, 2022 6:12pm
Quoting JauntyLoon
https://www.youtube.com/watch?v=VScSEXRwUqQ ^ There it is. Well here is a question, how much time can someone reasonably spend looking at charts on multiple time frames and watching price movements, if they have to earn money to live? Imagine spending all day looking at charts and coming away with - a loss... wow. That's worse than a waste of time. I think that the returns would have to be at least as good as having a job. I am terrified of growing old and stacking shelves for a living in my 50s. But it's either that or learning computer...
You don't have to watch charts for hours everyday or read every single news that is published to trade/invest profitably.

What we are trying to do is making money by using money right? So first of all we need a decent capital that we can apply good risk management. I am trading with 1k$ and that's too risky to be honest. That can only be considered as a hobby. If someone wants to make a living, they need at least 100k$. Think of it like starting a business. Opening a modest store in your town etc.

Let's say you have the capital, then now you need to understand money. Like how the money is created and how does it work? How some rich people gets richer without even producing anything, just by buying and selling etc. right?

If you buy a house, it won't just become 2 right, it's not something that lives and reproduces. It's just a house. What you need to do is buying it low and selling it high. But how? You will buy houses during a recession and sell them when the inflation & growth are breaking records. That's it. Just learn the economic cycles and keep an eye on your central bank's policies.

Same applies to forex, buy a currency when it's in a recession (look how USD is outperforming other curencies for a while despite awful GDP growth) and sell them while the inflation & growth are peaking.

You don't have to spend hours in front of the screen everyday to do this profitably. Just decide a direction based on what i told above, and try to find a good entry on the chart which will take no longer than just a few minutes.
You have to have an IQ higher than 90 to interact with this user.
  • #1,215,768
  • Jun 7, 2022 6:19pm Jun 7, 2022 6:19pm
Quoting Nordling
{quote} You don't have to watch charts for hours everyday or read every single news that is published to trade/invest profitably. What we are trying to do is making money by using money right? So first of all we need a decent capital that we can apply good risk management. I am trading with 1k$ and that's too risky to be honest. That can only be considered as a hobby. If someone wants to make a living, they need at least 100k$. Think of it like starting a business. Opening a modest store in your town etc. Let's say you have the capital, then now...
Hey, its past your bedtime Kid. time to sleep, im 58. im allowed to stay up late. be glad your not using my excuse to stay up
  • #1,215,769
  • Jun 7, 2022 6:29pm Jun 7, 2022 6:29pm
Quoting T721
{quote} Hey, its past your bedtime Kid. time to sleep, im 58. im allowed to stay up late. be glad your not using my excuse to stay up
Ahaha you caught me man You must be very disciplined in the house That's good though, youngsters need to be warned sometimes. In order to not mess their sleeping schedules up.
You have to have an IQ higher than 90 to interact with this user.
  • #1,215,770
  • Jun 7, 2022 9:43pm Jun 7, 2022 9:43pm
Buy with target 1.09 to be achieved on Thursday
  • #1,215,771
  • Edited Jun 8, 2022 12:07am Jun 7, 2022 11:36pm | Edited Jun 8, 2022 12:07am
no more second changes

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The Average Discount Everything
  • #1,215,772
  • Jun 8, 2022 12:30am Jun 8, 2022 12:30am
Quoting DrDave
{quote} You should check in from time-to-time and see if your pupils have made any progress without you. And also, so that you can buy everyone a round with your new-found wealth.
Good day my pupils. I know you guys can do without me very well. I wish i could treat you all a round but internet is superficial. Just an example of the holy Grail.

Take care

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POSTMASTER
  • #1,215,773
  • Jun 8, 2022 12:40am Jun 8, 2022 12:40am
Quoting JauntyLoon
https://www.youtube.com/watch?v=VScSEXRwUqQ ^ There it is. Well here is a question, how much time can someone reasonably spend looking at charts on multiple time frames and watching price movements, if they have to earn money to live? Imagine spending all day looking at charts and coming away with - a loss... wow. That's worse than a waste of time. I think that the returns would have to be at least as good as having a job. I am terrified of growing old and stacking shelves for a living in my 50s. But it's either that or learning computer...
Time and success are relative. You can't put a statistic here, only for reference. Lets say an average number I read in many websites and here is that a trader needs at least 10.000 hours, so he can begin trading profitable, but there are many traders that have passed this pivot and yet to make money - you can read many stories of failure here, or by searching to google.

Why that! Well, what where you watching 10.000 hours kid? I suggest you start reading about forex fundamentals non stop on hours that the market is sleeping and don't miss a move from what is happening on news. Always check everything on the chart and always see the changes minute by minute, ask questions why this is happened? why the move went the opposite and keep a diary.

Follow every day the banks and always think how they think and do how they do. You don't need Univercity to learn how an average works you have everything on Google.

You can look forex as an investement on yourself. It doesn't need to make money in a Year, or ten, but when you start becoming profitable every week and day then, you will see all the roads open for you. Just have patience and love what you do.

If, you have to pay bills and rent, then you have to work some Years first to build your future, but don't quit from something you like, you can't. You must hate it more than you love it to do so. I am sure you will find time if, you want something really bad. You choose.

Now back to EU!
Looking for profitable short term trades ...|
  • #1,215,774
  • Jun 8, 2022 1:25am Jun 8, 2022 1:25am
Shared my view with a chart on EURUSD only thread:

You can find here > https://www.forexfactory.com/thread/...3#post14024793
Looking for profitable short term trades ...|
  • #1,215,775
  • Jun 8, 2022 1:31am Jun 8, 2022 1:31am
Quoting Robinhood1
{quote} Good day my pupils. I know you guys can do without me very well. I wish i could treat you all a round but internet is superficial. Just an example of the holy Grail. Take care {image}
I am 100% sure that you will close GJ short in loss if you keep it open longer than a day
You have to have an IQ higher than 90 to interact with this user.
  • #1,215,776
  • Edited 1:53am Jun 8, 2022 1:40am | Edited 1:53am
Quoting Js3mwtRc
{quote} Time and success are relative. You can't put a statistic here, only for reference. Lets say an average number I read in many websites and here is that a trader needs at least 10.000 hours, so he can begin trading profitable, but there are many traders that have passed this pivot and yet to make money - you can read many stories of failure here, or by searching to google. Why that! Well, what where you watching 10.000 hours kid? I suggest you start reading about forex fundamentals non stop on hours that the market is sleeping and don't...
a trader needs at least 10.000 hours, so he can begin trading profitable,

You, like so many others, have either not read the original "10,000 hour Master" study, have interpreted it correctly, or simply swallowed what someone else presented.

1. A study was conducted of CHESS PLAYERS that are ALREADY Grand Masters.

2. Not a single one of them achieved that status without having spent between 10,000 and 50,000 hours "studying" (it was actually DOING what chess players do--spending time at the chess board analyzing positions).

3. Conclusion: To become a GRAND MASTER OF CHESS, at least 10,000 hours of study is required.

4. There was no analysis to determine how many people that put in the 10k-50k hours of study FAILED to achieve the Grand Master level. So just because the 10k study threshold has been crossed does not mean that Grand Master is achieved.

5. The study was ONLY about chess players: Because no other fields were included, it is impossible to conclude that the 10k hour "study rule" applies to any other field. Unfortunately, it is COMMON to INCORRECTLY assume that it does apply.

But let's take a leap and accept that the chess study can be generalized to any field. So, how many people actually even WANT to be a Grand Master of Trading, considering the time, dedication, and sacrifice that are required? However, do you actually NEED to be a Grand Master to achieve your personal goals in the trading arena? Highly, highly unlikely that you do. In fact, it is more likely that you just need to be somewhat above the "average trader" status to accomplish that. In fact, there have been some subsequent studies to verify that "good enough" level of accomplishment can be achieved in far less than 10k hours--I'll leave it up to you readers to take the initiative to locate the studies, if you are sufficiently motivated.
To free Gazans of Hamas, use whatever it takes.
  • #1,215,777
  • Jun 8, 2022 1:43am Jun 8, 2022 1:43am
h4 tf looks flat , spike up as last if beat 0805 , h1 tf close above 0696 or 0700 be indicative , 0746 breaks and hold need to bull action , otherwise tanking towards previous bottom! take care
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #1,215,778
  • Jun 8, 2022 2:02am Jun 8, 2022 2:02am
Quoting DrDave
{quote} a trader needs at least 10.000 hours, so he can begin trading profitable, You, like so many others, have either not read the original "10,000 hour Master" study, have interpreted it correctly, or simply swallowed what someone else presented. 1. A study was conducted of CHESS PLAYERS that are ALREADY Grand Masters. 2. Not a single one of them achieved that status without having spent between 10,000 and 50,000 hours "studying" (it was actually DOING what chess players do--spending time at the chess board analyzing positions). 3. Conclusion:...
I don't remember where I read about ten thousands hours, but its not only on chess, or forex its in many professions.

Mastery was not the case either, but success (make more than you lose).

From reading you I come in a conclusion that anyone can trade profitable by just following what other masters do and by copying them.

Someone might start following for Months, or Years a strategy only to come in a conclusion that it doesn't fit its style - character and then the only thing to do is start from the begining again.

A good trader must learn what fits in its way of life and then create his own strategy - maybe close to others, but more unique.
Looking for profitable short term trades ...|
  • #1,215,779
  • Jun 8, 2022 2:13am Jun 8, 2022 2:13am
Quoting Js3mwtRc
{quote} I don't remember where I read about ten thousands hours, but its not only on chess, or forex its in many professions. Mastery was not the case either, but success (make more than you lose). From reading you I come in a conclusion that anyone can trade profitable by just following what other masters do and by copying them. Someone might start following for Months, or Years a strategy only to come in a conclusion that it doesn't fit its style - character and then the only thing to do is start from the begining again. A good trader must learn...
Mastery was not the case either, but success

And that is one of the points I was trying to make--the original study was ONLY about the best of the best, not about mere successes. That is why it is important to read subsequent studies that looked at "good enough" rather than grandmaster, and in other fields.

Plus, other studies make it clear that a certain amount of innate ability in the field is REQUIRED to achieve grandmaster. So it would not be surprising to find that a certain amount of innate ability is also required to reach "good enough"--and some people, despite tremendous desire and effort, simply do not posses sufficient innate ability to ever achieve "good enough", no matter how many hours of study they put in.
To free Gazans of Hamas, use whatever it takes.
  • #1,215,780
  • Jun 8, 2022 2:16am Jun 8, 2022 2:16am
Quoting Js3mwtRc
{quote} I don't remember where I read about ten thousands hours, but its not only on chess, or forex its in many professions. Mastery was not the case either, but success (make more than you lose). From reading you I come in a conclusion that anyone can trade profitable by just following what other masters do and by copying them. Someone might start following for Months, or Years a strategy only to come in a conclusion that it doesn't fit its style - character and then the only thing to do is start from the begining again. A good trader must learn...
From reading you I come in a conclusion that anyone can trade profitable by just following what other masters do and by copying them

You must have overlooked this
Quoting DrDave
just because the 10k study threshold has been crossed does not mean that Grand Master is achieved.
To free Gazans of Hamas, use whatever it takes.
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