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What Right Do You Have To Trade Forex?

  • #21
  • Mar 23, 2010 12:30pm Mar 23, 2010 12:30pm
Quoting opie999
You already have the right. A license (for anything) only grants permission and thereby revokes your right.

And I thought that I was the only person thinking like that.

Great words.
  • #22
  • Mar 24, 2010 1:05am Mar 24, 2010 1:05am
Quoting opie999
You already have the right. A license (for anything) only grants permission and thereby revokes your right.
... and a right becomes a privilege--usually with a fee attached.
  • #23
  • Mar 24, 2010 5:34pm Mar 24, 2010 5:34pm
Retraction,

After intially wondering what all the fuss was about, I should have put the heading as "What qualifies anybody to think they can trade forex out of the gates".

The post was placed to try to save hours of blood seat and tears, not because I feel that I have cracked things, but because after taking a certified exam and failing I realized that if I had been forced to learn more at the get-go, and get qualified at least in understanding the mechanics of the market and the better use of my time, I would at least have been able to concentrate on building a plan.

I have been a vistor since 2006, inspired by James and Merlin, and Clockwork and Acumen, following Billy Ray and Iron Man. I may not have posted, but I am not an outsider looking to profit. I am trying to share.

Nobody is forced to learn the game, no question there from me, but what other profession outside of poker and the slots, can you stump up $500 and have a chance?

Point being, the odds are stacked aginast the gambler. I am at 72% sucess rate, now just about in the green after a baptism of fire. I would definately have shortened my learning curve if I got myself qualified, whatever the woof woof alpha dog team think, I wanted to get that out there.
  • #24
  • Mar 25, 2010 2:21am Mar 25, 2010 2:21am
Quoting Jimmy Jono
Retraction,
understanding the mechanics of the market and the better use of my time, I would at least have been able to concentrate on building a plan.
  • #25
  • Mar 25, 2010 4:24am Mar 25, 2010 4:24am
Quoting Jimmy Jono
Retraction,

After intially wondering what all the fuss was about, I should have put the heading as "What qualifies anybody to think they can trade forex out of the gates".
Well, Jesse Livermore dropped out of school back in the 1880s
so he could work the stock exchange and place trades on the side.
By 1890, at age 15, he had acquired $1,000 in wealth, to the utter
astonishment of his family. He didn't take any courses in forex or
stock trading...

Quote
The post was placed ... because I feel that ... I realized that if I had been forced to learn more at the get-go, and get qualified at least in understanding the mechanics of the market and the better use of my time, I would at least have been able to concentrate on building a plan.

I think you'll get qualified soon enough here. This is not theory,
this is practice.

Quote
I am not an outsider looking to profit. I am trying to share.

I don't mind sharing -- I post interesting .pdf articles all the time.
But I am trying to profit -- handsomely. Let's not kid ourselves
that a hobby is great, but a million-euro apartment in the
South of France is even better.

Quote
Nobody is forced to learn the game, no question there from me, but what other profession outside of poker and the slots, can you stump up $500 and have a chance?

Agreed. I think this is a great way for the educated
dispossessed to get a new start in life.

Quote
Point being, the odds are stacked aginast the gambler. I am at 72% sucess rate, now just about in the green after a baptism of fire.

Awesome. That's what we all ought to aim for.

Quote
I would [definitely] have shortened my learning curve if I got myself qualified....

The Japanese have a saying, in the title of this post --
"to know and not to act is not yet to know." In even shorter terms,
knowledge is action. (If you don't believe me, ask a smoker if
they know they should quit smoking. They will answer "yes."
...between puffs. The truth is, they do NOT know they should
quit -- they've just been told they should quit.

On the day they finally know they should quit, they will quit,
and not smoke again.)

Everything about forex adheres to this rule as well.

You talked about a learning curve. Perhaps there was something
you needed to learn but hadn't applied. But now you've made
some kind of distinction regarding trendlines or stochastics or
whatever. Now you're making a distinction that you hadn't
made before. You're doing something different. Maybe someone
told you to do it, and you didn't listen.

Now you know.
HELL IS EMPTY, ALL THE DEVILS ARE HERE. -- Shakespeare
  • #26
  • Mar 25, 2010 5:41am Mar 25, 2010 5:41am
Quoting Jimmy Jono
Dopey

I am no better or no worse than any other forex trader in regard to wanting to find the simplist route to making this work. If somebody had told me 36 months ago that a CTA test would have given me a sense of reality in what could be expected, it would have saved me a lot of effort, and would have saved a few blow-ups on the way.

That is all I am sharing here, a reality check that may help somebody save some time, and some money. If the forum is just for established members to post, have at it.
THE problem is that there is no test for Common Sense which is what so many lack. I have been in this game for a number of years and I can tell you honestly the biggest TEST you will ever find is within you. If you can pass that test then you will move forward, if not then you will bleed money until you give up. That test takes time, mistakes and success' and in the end it is a the culmination of all this that will define you as a trader.

Believe me taking a CTA test will not give you a head start. It may provide some useful information and some heads up but what does that do for you. Trading forex with the leverage that is available just allows average Joe with pennies to have a go. In the end if you are around for long enough you will begin to find things that work well, and things that don't, you will (hopefully) build the confidence to trade larger contracts and perhaps make a little money on the side to help with those day to day needs. The ones who come here expecting 100% gains here there and everywhere never go far, the common sense factor doesnt kick in and it doesnt matter what I hear, none of them are trading large accounts.

What right do I have to trade forex, commodities, stocks and indices - I have everyright to do what I need to succeed in life, provided it doesnt bring undue harm to others (of the physical nature, the mental and emotional side is your problem).

Razor
  • #27
  • Mar 25, 2010 5:49am Mar 25, 2010 5:49am
Quoting Jimmy Jono


I would definately have shortened my learning curve if I got myself qualified, whatever the woof woof alpha dog team think, I wanted to get that out there.
I highly doubt it. Making a comment like that, regardless of who makes it would mean that you have seen into the future, seen where you are at point X and have come back to gain whatever it is to better the results.

Your learning curve cannot be curve fitted, it is what it is and it will take as long as it needs and it is impossible to reason that taking a different path would have sped up the process. We learn from mistakes and as much as we try to avoid them they are much the same as the reasoning above ie If I had of known that outcome I would NEVER of done it.

Razor
  • #28
  • Mar 25, 2010 5:56am Mar 25, 2010 5:56am
Quoting Razor_trader
THE problem is that there is no test for Common Sense which is what so many lack.
and not for patience, trading is waiting.
Invincibility lies in the defence, the possibility of victory in the attack
  • #29
  • Mar 31, 2010 5:41pm Mar 31, 2010 5:41pm
Quoting Dopey
Is it my imagination or has there been a huge amount of people coming onto these forums in the last year or so spewing out what makes a trader win, lose, pass gas, etc? They write as if they have the definitive knowledge of what works and what doesn't. And a large amount of them claim to have been trading for years and are now successful.

I guess we should be quite thankful that we're being blessed by the presence of all the successful traders showing up and trying to guide the hoi polloi out of their ignorance.
The FF has put all the better, experienced traders like Jacko, James16 , Clockwork etc in the back of the site in the Commercial section and all the newbies in the front section. Now the site is full of newbies following newbies into losses
  • #30
  • Jan 6, 2021 12:32pm Jan 6, 2021 12:32pm
Spread is an important component in Forex trading. If the spread is very high, it is very difficult to make a profit in trading. Spreads are very important for those who do scalping. The spread should be low to get a good profit.
  • #31
  • Last Post: Jan 7, 2021 1:04am Jan 7, 2021 1:04am
according to me, spreads is an important financial tool which an investor should consider when choosing a broker , should choose the spreads which is more appropriate to the concept of trading that will be used , if love doing scalping should choose the broker which always ensure comfortable trading spreads.
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