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  • #16,181
  • May 29, 2023 6:02pm May 29, 2023 6:02pm
Quoting Tim_isoara
{quote} Trading is not gambling. Learn about fundamental analysis and tehnical analysis.
Did you once hear me deny it takes work? "Learn about fundamental analysis and tehnical analysis" When you can trade, and win 100% of your trades 100% of the time. Than its not gambling. Until then, you ignore the simple definition of gambling.
It was fun. I got to put some excitement in a boring day. Have a good one.
A few of you got the point. Some others did not. Its always good to reflect. The only one your fight is with, is yourself.
those who can, do. those who cant, talk about those who can
  • #16,182
  • May 30, 2023 12:34am May 30, 2023 12:34am
Quoting gatorinla
{quote} Did you once hear me deny it takes work? "Learn about fundamental analysis and tehnical analysis" When you can trade, and win 100% of your trades 100% of the time. Than its not gambling. Until then, you ignore the simple definition of gambling. It was fun. I got to put some excitement in a boring day. Have a good one. A few of you got the point. Some others did not. Its always good to reflect. The only one your fight is with, is yourself.
You are wrong. In gambling you have 50% maximum chance to win. You don't have to learn anything for gambling.
  • #16,183
  • May 30, 2023 1:04am May 30, 2023 1:04am
Please stop the gambling bait talk. Anyone with a brain knows anything can be regarded as gamble. Even for a welder it can be called gambling for him to be successful to weld. All things must be working put in place. So the probabilities are just increased if all of his equipment works properly and he expects a result. But there's always this chance something of his equipment would break down could happen or such. So in that regard anything can be a gamble. End of discussion. Don't get baited by the trolls saying normal probability outcome is a gamble.
  • #16,184
  • May 30, 2023 1:52am May 30, 2023 1:52am
is it just me or installing ftmo mt4 is taking so long?
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  • #16,185
  • May 30, 2023 2:33am May 30, 2023 2:33am
Quoting Nsak3y
{quote}-Agreed. I think, most failed and inexperienced traders are probably just gambling. But if you know your odds (or win-rate) and you can consistently and repeatedly reproduce the same, successful results, then you are no longer gambling, you are working a statistically-proven system.
you're working the edge, your trades have positive expected value

I'm not trading to be entertained, I'm trading to be bored by how predictable it gets. That's the goal.
  • #16,186
  • May 30, 2023 3:04am May 30, 2023 3:04am
Trading is speculation, it is a "game" of probabilities, not gambling.
There is a difference between gambling and speculation. Speculation entails gathering rational information to form plausible conjectures.
Gambling, on its side, is obeying the gut feelings.
When Speculators have the capability to form plausible conjectures, they are playing with the odds. Gamblers, on their side, may have a winning strike, but when they continue they will lose, this is as granted as casinos never losing in the long run.
  • #16,187
  • May 30, 2023 3:08am May 30, 2023 3:08am
I haven't yet reacted to the gambling topic so let me add my 2c now

There's a clear distinction between gambling and risk taking. It was mentioned here before but it appears as if many still confuse the two

In gambling, you have no chance to influence the result or you intentionally refuse to do so. You only hope for the best

In risk taking, you have a possibility to influence the result and you act in such a way to increase the probability of getting your desired outcome

Active approach to uncertainty (risk taking) is different to just sitting and waiting (gambling). Most activities in life are much more like risk taking because most of us try to always mitigate or avoid the anticipated bad results and actively strive for getting the best outcomes.
Money is made by sitting, not trading
  • #16,188
  • May 30, 2023 3:23am May 30, 2023 3:23am
Quoting LehmanBrotha
I'm not trading to be entertained, I'm trading to be bored by how predictable it gets. That's the goal.
-Trading is a boring grind. If it's not, then you are probably taking on too much risk. When you have traded long enough, you are seldom surprised and can easily adapt when needed. When/if you fail, you already know what you did wrong and can easily fix it and regain your losses. This is the simple truth.

People that think that trading is the same as gambling are probably still learning or do not even trade. But, I guess I am part of the group that just doesn't get it...
  • #16,189
  • May 30, 2023 3:31am May 30, 2023 3:31am
Quoting Nsak3y
{quote}-Trading is a boring grind. If it's not, then you are probably taking on too much risk. When you have traded long enough, you are seldom surprised and can easily adapt when needed. When/if you fail, you already know what you did wrong and can easily fix it and regain your losses. This is the simple truth. People that think that trading is the same as gambling are probably still learning or do not even trade. But, I guess I am part of the group that just doesn't get it...
Whenever I'm getting bored I increase the risk
That way I still enjoy trading and possibly earn more in the end (despite burning some accounts along the way )
Money is made by sitting, not trading
  • #16,190
  • May 30, 2023 5:12am May 30, 2023 5:12am
Quoting Vitore
Whenever I'm getting bored I increase the risk That way I still enjoy trading and possibly earn more in the end (despite burning some accounts along the way )
-Sure. We are very fortunate to have these opportunities available to us where we can diversify and take on varying levels of risk more easily and to a larger scale. Remote prop is a great vehicle for that.
  • #16,191
  • May 30, 2023 5:50am May 30, 2023 5:50am
Quoting Capablanca
{quote} Please keep us posted mate. I may give a stab on them just to see. As far as I understand they present themselves as the ultrafast everything (credentials, funded, payouts) and almost no rules, except these 5 days thing. Principles are good. Any new company has to be better than existing ones or, at least, as good as. Now let's see how that runs.
So here I am with the first update.

FXIFY phase 1 passed, phase 2 target hit but now I need to wait 3 more days to complete the phase and move to funded


In the meantime in another galaxy named FundedNext...

...made some decent 5 digit profit on NASDAQ and was immediately targeted by their "Trading Ethics & Standards Department"
enforced to close my open trades (which would make another 5 digit profit as of now) and now I'm being investigated for trading someone else's accounts or allowing others to trade on mine. OMFG.

Yes, they detected Duplikium server farm which uses the whole network of IP addresses and, which is worse, multiple MAC addresses.
So despite allowing copy trading in their rules and T&C they are not able to deal with the side effects of using a real copy trading service.
Let's see what those suckers come up with and when as it's taking more than 24 hrs already and still radio silence...
Money is made by sitting, not trading
  • #16,192
  • May 30, 2023 6:08am May 30, 2023 6:08am
Quoting Vitore
{quote} move to funded In the meantime in another galaxy named FundedNext... ...made some decent 5 digit profit on NASDAQ and was immediately targeted by their "Trading Ethics & Standards Department" enforced to close my open trades (which would make another 5 digit profit as of now) and now I'm being investigated for trading someone else's accounts or allowing others to trade on mine. OMFG. Yes, they detected Duplikium server farm which uses the whole network of IP addresses and, which is worse,...
Was you using signal from someone else ? Which account size did you have ? It is not good if they don't allow large profits. I was planning of using them maybe.
  • #16,193
  • May 30, 2023 6:55am May 30, 2023 6:55am
Quoting Vitore
I haven't yet reacted to the gambling topic so let me add my 2c now There's a clear distinction between gambling and risk taking. It was mentioned here before but it appears as if many still confuse the two In gambling, you have no chance to influence the result or you intentionally refuse to do so. You only hope for the best In risk taking, you have a possibility to influence the result and you act in such a way to increase the probability of getting your desired outcome Active approach to uncertainty (risk taking) is different to just...
Explained perfectly.
Poker (risk taking) vs. blackjack(gambling)
Trading(risk taking) vs. coinflip(gambling)
  • #16,194
  • May 30, 2023 7:00am May 30, 2023 7:00am
Quoting Vitore
{quote} So here I am with the first update. FXIFY phase 1 passed, phase 2 target hit but now I need to wait 3 more days to complete the phase and move to funded In the meantime in another galaxy named FundedNext... ...made some decent 5 digit profit on NASDAQ and was immediately targeted by their "Trading Ethics & Standards Department" enforced to close my open trades (which would make another 5 digit profit as of now) and now I'm being investigated for trading someone else's accounts or allowing...
How was the phase 1 to phase 2 credentials in FXIFY ? Automatic ? Fast ? Keep on mate !

Regarding Funded Next, how predictable
I would like to know if they also investigate loser traders, eheheh.

I had the same "Ethics department" investigating me when I achieved the 5% profit, which entitled me to receive the profits from phase 1 and 2. To avoid repeating it all, I described that here:
https://www.forexfactory.com/thread/...7#post14395497

If you're not disqualified by using the copier, which would be very convenient and handy argument for them, be prepared for a video interview. They are as crooks as I imagined when I tested them. In my case they found nothing but they could have invented something easily.
  • #16,195
  • May 30, 2023 7:51am May 30, 2023 7:51am
Quoting Eren10
{quote} Was you using signal from someone else ? Which account size did you have ? It is not good if they don't allow large profits. I was planning of using them maybe.
No signals, all was my own trading. There's no chance they could find another trader with the exact same trades. I have 200K account with them
Money is made by sitting, not trading
  • #16,196
  • May 30, 2023 8:07am May 30, 2023 8:07am
Quoting Capablanca
{quote}How was the phase 1 to phase 2 credentials in FXIFY ? Automatic ? Fast ?
Instant. Closed the trade on day 5 and the next phase account was there right away (a few seconds maybe)

Quoting Capablanca
{quote}I had the same "Ethics department" investigating me when I achieved the 5% profit, which entitled me to receive the profits from phase 1 and 2. To avoid repeating it all, I described that here:
https://www.forexfactory.com/thread/...7#post14395497
I think I started with them at about same time when you were writing your post. Never mind, let's see what happens.
The problem is that I created about 20% on just one day. I was lucky with NASDAQ. It wasn't even overleveraged, just caught the whole intraday trend which was (rather unusual) nearly 400 points

Quoting Capablanca
{quote}If you're not disqualified by using the copier, which would be very convenient and handy argument for them, be prepared for a video interview. They are as crooks as I imagined when I tested them. In my case they found nothing but they could have invented something easily.
I'm actually surprised they chose copier when they could use "one-sided betting" (I only traded long that day), or "grid trading" (I placed 3 long trades one after another) or any other BS rule they list on their website

Did you know they require some paper evidence of you travel should you plan to use IP address from another country? Clowns
Money is made by sitting, not trading
  • #16,197
  • May 30, 2023 8:11am May 30, 2023 8:11am
Quoting Vitore
Did you know they require some paper evidence of you travel should you plan to use IP address from another country? Clowns
WTF ?! I didn't know about that. No doubt that Funded Next are one of the biggest clowns around!

What do you mean by "one-sided betting". Is that also forbidden ? I don't recall having read any rule like that,
  • #16,198
  • May 30, 2023 8:18am May 30, 2023 8:18am
Quoting Vitore
{quote} Instant. Closed the trade on day 5 and the next phase account was there right away (a few seconds maybe) {quote} I think I started with them at about same time when you were writing your post. Never mind, let's see what happens. The problem is that I created about 20% on just one day. I was lucky with NASDAQ. It wasn't even overleveraged, just caught the whole intraday trend which was (rather unusual) nearly 400 points {quote} I'm actually surprised they chose copier when they could use "one-sided betting" (I only traded long that day),...
It seems you are doing well and have quite exposure to various firms. . what is your top 3 prop firms so far ? I would like to know.
Thanks
  • #16,199
  • May 30, 2023 8:49am May 30, 2023 8:49am
Quoting Capablanca
{quote} WTF ?! I didn't know about that. No doubt that Funded Next are one of the biggest clowns around!
https://help.fundednext.com/en/artic...e-ip-addresses

  1. If you travel or move to a different country, your account will reflect the IP address of that country. In such cases, FundedNext requires a valid document that can verify your physical movement to the new location.


Quoting Capablanca
{quote}What do you mean by "one-sided betting". Is that also forbidden ? I don't recall having read any rule like that,
Nobody knows what that means. Many asked on their discord but they never explained it
Money is made by sitting, not trading
  • #16,200
  • May 30, 2023 8:52am May 30, 2023 8:52am
Quoting Capablanca
{quote} WTF ?! I didn't know about that. No doubt that Funded Next are one of the biggest clowns around! What do you mean by "one-sided betting". Is that also forbidden ? I don't recall having read any rule like that,
Wouldn't one always be "one-sided" betting unless the position is hedged elsewhere, which is also forbidden?
Of course, I am one-sided betting......that's the fu***ng direction I think the trade is going. WTF are these firms even talking about?
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