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The truth about trading

  • #101
  • Jan 20, 2010 11:15pm Jan 20, 2010 11:15pm
So....Can the decent citizens get this thread back?

Quoting Turveyd
your highly unlikely to pay any attention, so you'll excuse me for not wasting my time!!
Hmmm. You are known by the fruits of your labour. I dont understand why you post on these forums.

Are you selling a system?
Are you just bored and decide to come and annoy people
IF you are SO busy making money, why bother to post here?
If you are not helping others, this forum is not for you
If you come to help the community then i'm sure your presence
will be more than welcomed here.

Just be careful what you say. Your character depends on it.
100% of traders are losers. Just that some win more than they lose!
  • #102
  • Jan 20, 2010 11:24pm Jan 20, 2010 11:24pm
Quoting Turveyd
Pure Math's, simply add up how many times the price hits and reverses off a pivot point ( +/- 5pips say ). ~20% success rate.

The compare EJ currently to M1 26EMA check out how well the price reacts to this EMA, 50%+ easy!!

Simply isn't enough traders using the same pivot points as they draw there own to make them strong enough to be useable sorry.

Sweetspots work well, the same for everyone!!
Well I think the reason why people get turned off of pivots or even sweetspots is that they feel price has to respect them to the point, and people who use it successfully, like acumen, look at as zones for reversals, and they work on the majors more, not so much on the jpy crosses.. I know you like to scalp on the 10 sec and below timeframes so the jpy crosses would be ideal but I agree with you that pivots dont work well on those crosses, but they are decent on the weekly pivots.
I will look at your M1 26 ema, I used to scalp using using the rainbow a while back, will look at it again.
  • #103
  • Jan 21, 2010 1:02am Jan 21, 2010 1:02am
Quoting AstonDan
....I love how many people seem to speak in absolute truths, when infact there are none.
Well put!!....Forums have GOT to be so confusing and disheartening to new traders!! There can be so much knowledge passed around if people could deflate their ego long enough to acknowledge someone else can do something they can not. I just don't understand why there is so much gnawing and chewing on each other when every single one on this forum is here for one reason (or should be, anyway): to make money.

No one on or off this forum has all the answers. Just because something doesn't work for you doesn't mean it doesn't work for someone else. I trade all the ways people say not to do: high leverage, short time frames, indicators, only emergency SL, etc. It is the ONLY way to trade!!....but just for me, not necessarily anyone else. It is the same for other methods and strategies. I have no luck with MACD, but I know several people that use it exclusively and make lots of money doing it. But for me to say that MACD is useless because I have not mastered it is just plain ignorant! Some of my trading partners trade only daily charts, some only 4 hr charts. If people are making money with whatever strategy they are using, who is anyone else to say it is wrong? Shouldn't we all be glad that others are making money? Shouldn't we always be trying to learn?

Now, I am talking about people trading live accounts with full sized lots and consistantly profitable, because in my opinion there is no point in discussing methods that are not proven yet. But there are numerous people meeting this criteria. Rather than bashing about only one way to trade or saying if you trade this way you're stupid or something like that, imagine how much better everyone could be if they listened, respected and acknowledged other strategies. Imagine helping each other to learn new things; to become better traders.

That is what I thought the forums were all about when I joined, but I haven't seen much of that at all......
  • #104
  • Jan 21, 2010 1:41am Jan 21, 2010 1:41am
Quoting Mr demark
Well, its been a while since i posted anything here. Been busy with work and trading.

I know there are some greenhorn traders so i got to share a few words to help with their education and confidence: the truths about trading.

1. You will not make any money from Forex unless you understand the architecture of the market (why prices move) and the psychology behind it all. Why does the price change and why this pattern is formed? Why a trend-line break is so powerful? What can pinbars tell us about market sentiment and what the big boys are thinking

....

Hi Demark,

very good post..well put in simple English..at least non-English spoken people like me can understand..I completely agreed with the points you put forward..waiting for more from you guys..

Good work.
-happyTrading-myFx.
  • #105
  • Jan 21, 2010 1:44am Jan 21, 2010 1:44am
Quoting Razorjack
Hi Mr demark,

Great post, I agree with you 100%. My comments follow:

1. You will not make any money from Forex unless you understand the architecture of the market (why prices move) and the psychology behind it all. Why does the price change and why this pattern is formed? Why a trend-line break is so powerful? What can pinbars tell us about market sentiment and what the big boys are thinking

Yes, understanding what's moving the markets and why is key. I find it strange that most people on this forum ignore the fundamentals....

Hello Razor,

I completely agree with you and Demark...very nice thread..looking for more teaching/advice from you guys.
-happyTrading-myFx.
  • #106
  • Jan 21, 2010 1:58am Jan 21, 2010 1:58am
Quoting Mr demark
And i do understand this. I've graduated from this style of trading. You have no idea the number of tests i've done. I even have a program that lets me trade the past data as if it was live .

I do agree that there might be more setups in lower TF. But that does not mean the win rate is higher. It is lower. And dont try to prove me wrong cuz we all know this.

Hello Demark,

Do you really want to argue with these kinds of cracks? their posts are worth nothing..we want to here more from you and other good traders..are we here for 'The Truth About Trading"?..then lets hear it guys.
-happyTrading-myFx.
  • #107
  • Jan 21, 2010 2:40am Jan 21, 2010 2:40am
Quoting myfx
Hello Demark,

Do you really want to argue with these kinds of cracks? their posts are worth nothing..we want to here more from you and other good traders..are we here for 'The Truth About Trading"?..then lets hear it guys.
Hi myfx,

Yes you are right, every forum has their trolls and attention seeking crackpots.

Ok, here are MY truths:

1. You can make money trading any time frame as long as your trading style is adapted to your personality.

2. If you're consistently profitable then you are trading correctly, continue doing what you've been doing and look for further improvements to maximize profits and minimize losses

3. If you're blowing your trading accounts then you are doing something WRONG! When this happens, you need to look in the mirror and admit that YOU are responsible for blowing your account. Take it on the chin, go back to demo trading. BUT demo trade as if you are trading with real money, this means demo trading with the same amount of money you would have as if you were starting out with real money.

4. You are your own worst enemy. Decide what is more important to you: Do you want to be right or rich?
There are very few people who can be both. So if you're not consistently profitable, then admit that you are wrong, shut up and listen to those who are successful. Otherwise your ego will keep you from succeeding.

5. Learn to be a complete trader. Although it's possible to succeed using ONLY technical analysis, there are some limitations and I'd encourage every trader to learn fundamental analysis. There are certain situations where pure technical traders will get caught out and if they don't watch their risk management suffer huge losses.

That's all that I can think of for now.
-Razorjack
  • #108
  • Jan 21, 2010 4:38am Jan 21, 2010 4:38am
Quoting Razorjack
Hi myfx,

Yes you are right, every forum has their trolls and attention seeking crackpots....
Hello Razor, thanks mate..very good points and nicely put.
-happyTrading-myFx.
  • #109
  • Jan 21, 2010 8:25am Jan 21, 2010 8:25am
Quoting moneymaker2
Well put!!....Forums have GOT to be so confusing and disheartening to new traders!! There can be so much knowledge passed around if people could deflate their ego long enough to acknowledge someone else can do something they can not. I just don't understand why there is so much gnawing and chewing on each other when every single one on this forum is here for one reason (or should be, anyway): to make money.

No one on or off this forum has all the answers. Just because something doesn't work for you doesn't mean it doesn't work for someone else....
Finally, a sane voice in an insane world.
  • #110
  • Jan 21, 2010 8:28am Jan 21, 2010 8:28am
Quoting Razorjack
Hi myfx,

Yes you are right, every forum has their trolls and attention seeking crackpots.
Another sane voice.
  • #111
  • Jan 21, 2010 8:42am Jan 21, 2010 8:42am
Quoting kennyjohnson
Another sane voice.

And people only think others are sane ( ie Correct ) if there on the same page as them, they never stop to consider they might both be on the wrong page ( ie Wrong ) and might not actually be sane themselves.



People are a interesting species for sure!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #112
  • Jan 21, 2010 8:46am Jan 21, 2010 8:46am
Quoting moneymaker2
I have no luck with MACD, but I know several people that use it exclusively and make lots of money doing it. But for me to say that MACD is useless because I have not mastered it is just plain ignorant! Some of my trading partners trade only daily charts, some only 4 hr charts. If people are making money with whatever strategy they are using, who is anyone else to say it is wrong? Shouldn't we all be glad that others are making money? Shouldn't we always be trying to learn?

MACD doesn't really work, people make money ( Alledegly ) from all kinds of crazy things check the Planetary Alignment Thread for instance, just because they've got a MACD or 10 on there chart doesn't mean it's the MACD which is working for them ( Alledegly again ), they might just be damn good traders and having stuff around to keep them happy allows them to see the real picture and then trade efficently. Or there lying and losing there asses but don't want to admit to it, which is sadly more often and keeps the myths of indicators alive


Nothing really works, as nothing can REALLY Accurately Predict the Future
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #113
  • Jan 21, 2010 10:13am Jan 21, 2010 10:13am
Turveyd.....ROFL, this thread would not be the same without you!!!

....and now my turn;
Don't you guys know anything about trading? volume, price, indicators, EA, magic formulas all do not work.
price action does not work....
timeframes are ilussion....

nothing works.....


The institutional traders are fading sheep decisions...waiting for the masses to get in, so they can go the other way. they have all they need.
they see your entry orders and stop loss orders, etc... all right in front of them. they know hown to suck you sheeps into
a decision making, you believe it's time to get in, then they hunt you down.
Any one that dare say's otherwise is a fool!!!

Don't you get it the markets are all manipulated.
It is the one and only truth!!!
  • #114
  • Jan 21, 2010 10:28am Jan 21, 2010 10:28am
Quoting Parazite
Turveyd.....ROFL, this thread would not be the same without you!!!

....and now my turn;
Don't you guys know anything about trading? volume, price, indicators, EA, magic formulas all do not work....
I guess you failed then (-: ....
  • #115
  • Jan 21, 2010 1:36pm Jan 21, 2010 1:36pm
Wow. So, I can accept the belief that there are no absolutes in an environment like the markets. But, nothing works? There's no way to make money? LOL!

For the last day you could pretty much just press "sell".

For all other days look into seeking out and trading off of:
Quoting AstonDan
clusters of orders
(Yes, just using your charts)
  • #116
  • Jan 21, 2010 2:26pm Jan 21, 2010 2:26pm
Hi Fxsurfer,

Could you post some chart examples of 'clusters of orders' please, be interested to 'see' what you mean.

Cheers J
  • #117
  • Jan 21, 2010 2:45pm Jan 21, 2010 2:45pm
The truth about trading:

You'll never make money until you understand your edge and practice to perfection.
  • #118
  • Jan 21, 2010 2:58pm Jan 21, 2010 2:58pm
Quoting slimcat
Hi Fxsurfer,

Could you post some chart examples of 'clusters of orders' please, be interested to 'see' what you mean.

Cheers J
Any pair, any day. It's always the same.
I took a quick tiny scalp here, just now to post a chart but, you can do the same thing on any time frame (since, as has been pointed out, TF's are a myth). You can hold the trade as long or short of a time as you want - that's really what a time frame is - a holding time for your trades. Just clear off your charts, practice like hell and don't listen to anyone. BTW: I'm not suggesting by my chart example to hold trades for only a few pips - it's just an example of the process. It's not new or novel at all. Look at BRV and others for helpful info along these lines and start working at it. Did I mention not to listen to anyone's opinion? Good trading!

I'm getting out of here before the BS starts flying.
Attached Image (click to enlarge)
Click to Enlarge Name: cluster.png Size: 29 KB
  • #119
  • Jan 21, 2010 3:05pm Jan 21, 2010 3:05pm
Quoting Parazite
Any one that dare say's otherwise is a fool!!!
You rang?

Institutional traders don't give a rat's ass about the retail trader's mini-lot trades. Don't you know anything about trading?
"If The Fool persists in his Folly he will become wise." - William Blake
  • #120
  • Jan 21, 2010 3:12pm Jan 21, 2010 3:12pm
thanks fxsurfer, i see what you mean, looks like mini resistance and support areas then.

cheers J
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