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No more BS - What have you learned?

  • #201
  • Sep 13, 2010 2:27pm Sep 13, 2010 2:27pm
Quoting pipmutt
You'd think so but it's not the case apparently
The benefits of diversification possibly far outweigh any benefits of sharing
  • #202
  • Sep 13, 2010 2:32pm Sep 13, 2010 2:32pm
Quoting Troikaone1

Well....then why are we calling them the "big boys" if they don't have any clear advantages? Basically, big institutions trade one way and retail traders trade another way. If they aren't sharing information and they have no advantage.....then they shouldn't be referred to as "big boys". If nothing else, they have experience.
Sure they have experience, and no doubt they have advantages, of their game, but we're playing a totally different game. No-one knows how they operate, or why, and I don't expect they're going to tell us!

'Big boys', 'Big dogs', I dunno, probably because they're among the biggest players in the biggest market, money=power and all that stuff.
  • #203
  • Sep 13, 2010 2:34pm Sep 13, 2010 2:34pm
OK..............back to the original question......... "No more BS - What have you learned?"
  • #204
  • Sep 13, 2010 2:37pm Sep 13, 2010 2:37pm
Quoting Razzle

The benefits of diversification possibly far outweigh any benefits of sharing
Interesting thought, ie they're not risking influencing each other. (Is that what you were meaning or have I misunderstood?)
  • #205
  • Sep 13, 2010 2:42pm Sep 13, 2010 2:42pm
Quoting pipmutt
Interesting thought, ie they're not risking influencing each other. (Is that what you were meaning or have I misunderstood?)
Yes exactly, and you get the advantage of reallocating assetts to the most profitable guys, and firing the under achievers.
  • #206
  • Sep 13, 2010 2:42pm Sep 13, 2010 2:42pm
Quoting Troikaone1
Uhhhh....OK.....thanks!!!
You have used that twice now. Time to mix it up a bit I think. Surely you can manage something better than that.
  • #207
  • Sep 13, 2010 2:44pm Sep 13, 2010 2:44pm
Quoting Troikaone1
Well....then why are we calling them the "big boys" if they don't have any clear advantages? Basically, big institutions trade one way and retail traders trade another way. If they aren't sharing information and they have no advantage.....then they shouldn't be referred to as "big boys". If nothing else, they have experience.
They are the big boys because they make the big trades. Do you even know how forex works?

http://www.investopedia.com/articles.../interbank.asp
  • #208
  • Sep 13, 2010 2:44pm Sep 13, 2010 2:44pm
Quoting pip_daddy
You have used that twice now. Time to mix it up a bit I think. Surely you can manage something better than that.
lol......you're kidding right? Please tell me you're kidding!!
  • #209
  • Sep 13, 2010 2:45pm Sep 13, 2010 2:45pm
Quoting pip_daddy
They are the big boys because they make the big trades. Do you even know how forex works?

http://www.investopedia.com/articles.../interbank.asp
Try not to make anything personal.....just calm down!!! Get back on topic!
  • #210
  • Sep 13, 2010 2:53pm Sep 13, 2010 2:53pm
Quoting Razzle

Yes exactly, and you get the advantage of reallocating assetts to the most profitable guys, and firing the under achievers.
Makes sense, and also makes sense when you think about productivity bonuses and promotions, from what I've seen/read/heard it's fiercely competitive among traders within firms. If I worked in an environment like that I'm not sure I'd trust anything willingly shared!



*Sorry Cindy4X, seems your thread has been steered off-course a bit! I blame the others, they led me astray!
  • #211
  • Sep 13, 2010 2:57pm Sep 13, 2010 2:57pm
Everybody take a deep breath and try to think of clever things you have learned about money management for instance!!!
  • #212
  • Sep 13, 2010 2:58pm Sep 13, 2010 2:58pm
  •  Czech
  • | Joined Feb 2010 | Status: You Don't Know What You Don't Know | 111 Posts
Quoting Troikaone1
Try not to make anything personal.....just calm down!!! Get back on topic!
I don't think anyones trying to make it personal. But when you present straight misinformation and your own assumptions like its fact over and over
Quote
The biggest advantage the big dogs have is...

It starts to get annoying.

Quote
A lot of these firms have morning meetings where...

Have you been to a morning meeting @ a firm before?

If you want to make assumptions, maybe you should present it as such
  • #213
  • Sep 13, 2010 3:01pm Sep 13, 2010 3:01pm
Quoting Czech
I don't think anyones trying to make it personal. But when you present straight misinformation and your own assumptions like its fact over and over


It starts to get annoying.



Have you been to a morning meeting @ a firm before?

If you want to make assumptions, maybe you should present it as such

Can we please get back to the topic at hand? I hear what you're saying "Czech".....I didn't mean to offend you bud.
  • #214
  • Sep 13, 2010 3:16pm Sep 13, 2010 3:16pm
Quoting CindyXXXX
Tell me what you've learnt in your trading experience

I'm talking about everything BUT the entry and strategy side of things

Yea yea patience and all that... give me something new

What have you REALLY learnt - ?
I think this thread should at least focus on the lessons of exiting. This is THE MOST important part of trading. But..we instead focus on philosophical bullshit
  • #215
  • Sep 13, 2010 3:18pm Sep 13, 2010 3:18pm
Quoting hilmy83
I think this thread should at least focus on the lessons of exiting. This is THE MOST important part of trading. But..we instead focus on philosophical bullshit
Mostly I try to exit too late, but when that fails, I instead exit too early.

That way I'm always disappointed, regardless of the outcome.
  • #216
  • Sep 13, 2010 3:20pm Sep 13, 2010 3:20pm
b/e stop is the most retarded invention in trading, hands down. My trading log tells me it causes pain and false hope.
  • #217
  • Sep 13, 2010 3:23pm Sep 13, 2010 3:23pm
Quoting hilmy83
I think this thread should at least focus on the lessons of exiting. This is THE MOST important part of trading. But..we instead focus on philosophical bullshit

I mentioned this before, and I don't know where, that the exit is the "sweet science" trading FX or any other investment vehicle for that matter. IMO, more skill is required in the exit than the entry. The reason I say this is because there are so many hidden areas of support and resistance and it takes a heck of a lot of experience to know where those areas are and how to steer away from them.
  • #218
  • Sep 13, 2010 3:26pm Sep 13, 2010 3:26pm
Quoting Troikaone1
I mentioned this before, and I don't know where, that the exit is the "sweet science" trading FX or any other investment vehicle for that matter. IMO, more skill is required in the exit than the entry.
i think i wil say boldly say it...that the ONLY edge a retail trader has, is in the exit strategy.
  • #219
  • Sep 13, 2010 3:26pm Sep 13, 2010 3:26pm
In regards to exits, I prefer a setup that indicates a specific target. When my targets are "discretionary", I am almost always unhappy with my choice/timing.

Alternatively, when price reaches my target and I exit, I care not what happens next.
  • #220
  • Sep 13, 2010 3:32pm Sep 13, 2010 3:32pm
I can look back on documented trades I took 3 years ago and I realize now that in many, many cases I was shorting into areas of major support and didn't have a clue at the time. Today, I use those areas of support/resistance to my advantage and get out way before I can get into trouble.
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