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  • #201
  • Sep 16, 2010 3:47am Sep 16, 2010 3:47am
Quoting ab1
Hi Czech

Interesting points but this is a 4 Trillion a day + industry. Even if I found the Grail and was making $1M a day trading, my trades would have no effect on the market what so ever, the rest of the world wouldn't even no I existed.

So I have to respectfully disagree that I could affect anyones liquidity. There is definitely a suspicion by many that there is some hidden force scheming behind there backs, when I think its more a case that they simply don't know how to trade and therefore lose. Its much easier to blame others for ones...

hey smartass,since u think u know everything ,heres one ,jim cramer explains how to manipulate the market and tells us that many hedge funds manipulate the markets,((so manipulating the stock market would affect the economy and the economy would affect the currency movement ....)).

Inserted Video
  • #202
  • Sep 16, 2010 3:57am Sep 16, 2010 3:57am
this is one great documentary on our topic of manipulating prices with computer programs,heres a description,

Quants are the math wizards and computer programmers in the engine room of our global financial system who designed the financial products that almost crashed Wall st. The credit crunch has shown how the global financial system has become increasingly dependent on mathematical models trying to quantify human (economic) behaviour. Now the quants are at the heart of yet another technological revolution in finance: trading at the speed of light.

What are the risks of treating the economy and its markets as a complex machine? Will we be able to keep control of this model-based financial system, or have we created a monster?

A story about greed, fear and randomness from the insides of Wall Street.


Inserted Video


hope it helps guys,good luck in learning new info and putting it all in trading
  • #203
  • Sep 17, 2010 2:45am Sep 17, 2010 2:45am
Another point perhaps not mentioned is that a trader may have a different trend line than what your screen is showing.

He might have been tasked in selling or buying a large amount of currency for another based on some kind of need that a customer has tasked his employer in getting rid of or obtaining.

That traders job is merely to attempt to maximise the amount of currency he can obtain for his client and his bonus might be based on achieving a better result than had the client just made a swap immediately on determining that he had a new need from before.

Obviously such a trader is not trading trend lines like you might assume he would and ultimately, if the need is great, a new trend line may become apparent over time which was not there in the first place.

To the experienced trader, who knows what volumes are flowing in this or that direction, the size of what he has been tasked with, will tell him how aggressive or lightweight he needs to proceed, naturally with the intent of getting that bonus in his paycheck when the job is done.
  • #204
  • Sep 17, 2010 9:01am Sep 17, 2010 9:01am
I'm copying and pasting a post I made in another thread, maybe it can turn on a light bulb for someone browsing this thread.

1. Don't move your stops. I don't mean the one that's light years away that you put on to let your trade 'breathe' while you waste your life away waiting for some semblance of profit to appear. I mean the one/ones that is/are protecting your profits. If you think you bought with the big dogs/boys/whatever, then they will protect their stops, if not then they probably aren't as interested in the move as you are.

2. Cutting and running away from losses should be done according to time of day, beginning of session/end of session and with an awareness of likely support/resistance that may help your cause nearby. If you bought and you have to scroll the chart to find the nearest support, not the best situation.

3. If you are winning, BET MORE! some will know where that comes from. But seriously, if money is flooding in your direction, why are you taking profits off the table? At that point it's others money that is really at risk anyway.

4. Don't bite off more than you can chew. Every time I've tried to double my account in a day I have halved it. Every time I have gone with the flow, adding as I went along keeping the overall average green I have been pleasantly surprised.

5. For the love of everything good, don't open freaking trades as a session is heading off to lunch.

6. Get exercise and get rest. Enough hours in front of the screen soaking up emf radiation and chain smoking will add up and your mind will become mush.

7. Your instrument does not trade in a vacuum, no matter what the news says, if all overall markets are bear, it ain't gonna fly much and vice versa, a rising tide raises all ships as they say, and of course vice versa.

Cloggie is very correct about screen time... there is simply no way to get around paying dues in this business. The more money you bring to the market to start with, the more it's gonna sting when it's g-g-g-gone.
  • #205
  • Sep 18, 2010 12:50am Sep 18, 2010 12:50am
Quoting Tkb
Another point perhaps not mentioned is that a trader may have a different trend line than what your screen is showing.

He might have been tasked in selling or buying a large amount of currency for another based on some kind of need that a customer has tasked his employer in getting rid of or obtaining.

That traders job is merely to attempt to maximise the amount of currency he can obtain for his client and his bonus might be based on achieving a better result than had the client just made a swap immediately on determining that he had a new...
Hi

Id pretty much given up on this thread, as there are so many on here that just seem to want to make smart remarks with no substance and vent off. Something unfortunately found across the entire Forum on many threads, not just this one. I noticed it always seems to be the same individuals as well in many cases.

Many make the assumption that because Im asking these questions, that I am some gullible, newbie, that thinks he can just walk into this highly competitive market and with the use of a few indicators and purchase of the holy grail will be able to make a fortune overnight. Would be nice to think that could happen, but in reality it just isn't.

Since I started this thread I have learnt a lot and have spoken with some full time professionals. In fact I would probably not have started it if I knew then what I know now, but I guess if I hadnt started it then I wouldnt know what I know now....LOL

The penny has started to drop for me about what is required to have a chance and edge in this cut throat market. Many that I have spoken to don't use indicators, well maybe a few, but only to confirm as a back up what there skill of reading the market is telling them.

So one thing is for sure Im not currently a big enough player to manipulate the price to snare traders into orders and then control the outcome in my favour, such as the practice say of "stop hunting", so I will have to use the next best thing, which is..........

SUPPLY & DEMAND.... thats all I need to think about to trade.

If Im going to place an order, is the price at a level that is attractive to the market. You wouldn't go to the shop and buy something when it was at its very highest price if you intended to sell it later for a profit would you.

So my job as trader is to establish when everyone else thinks that price is "ON SALE" !

Cheers
  • #206
  • Sep 18, 2010 1:06am Sep 18, 2010 1:06am
Quoting SerpentDove
I'm copying and pasting a post I made in another thread, maybe it can turn on a light bulb for someone browsing this thread.

1. Don't move your stops. I don't mean the one that's light years away...
Yes a good solid post, thanks.

Some good over all tips shared about trading, appreciate the contribution.

But what we need to find out for ourselves is when is the time right to open a trade. Thats the skill, ask yourselves, why would anyone else open a trade at this point, the point Im going to ?

If that answer is not staring you obviously in the face, then it might be better not to enter. But one thing for sure is this, the market is not going generally to be placing trades based on a bunch of signals from some "black box" or indicator system. Those are just used as secondary confirmation to back up there analysis, not the other way round.

many thanks
  • #207
  • Sep 18, 2010 9:00am Sep 18, 2010 9:00am
Quoting Setebos
Excellent post J
I find it truly childish how people go to forums looking for the secret of trading to be served to them on a silver plate. It's even more amazing how some of them act as if the real traders are obliged to share just because the juniors asked. This is not a game...
No disrespect meant here my friend, but why do you bother to post on here? what are you trying to actually say?

There is so many bitter, frustrated people on here, probably searching themselves for answers to trading, but unable to piece it together, venting off on other peoples threads. A lot of arrogance and presumption... like "its not a game"....lol ....oh really, I thought I was playing Monopoly....

We all know that none of us have any given right to any information that others have accumulated, but we can still ask the question.

But that wasn't my original question when I opened this thread. I asked if anyone that was a professional trading other people money successfully was willing to share what they do here on FF. If they do or if they dont it dosent matter, because if I cant find what Im after on here then I will look elsewhere, which is in fact what has happened.

It has lead to much more than I had hoped for outside of this forum, I have found things out that are truly going to and are actually elevating my trading, I believe I have a far greater understanding of the markets and what its all about and its got absolutely nothing to do with systems, which I guess in my 1st post I thought it did.

The Forex market is far more simple that that. If you understand what really makes it all work then systems and indicators can help to confirm and strengthen your analysis of what price action is telling us. Indicators after all are just mathematical calculations of price action packaged up in various ways, so therefore all the information they tell us is historic, by the time they indicate an opportunity to buy or sell we will always be "late to the party" so to speak, that will cost you money and many losses.

There are some great threads on here that deal with the basic workings of the markets and what makes traders buy and sell. Thats what your focus should be on, not systems and indicators. Only when you understand that fundamental concept, will you in my opinion be successful at trading.

cheers
  • #208
  • Sep 18, 2010 9:40am Sep 18, 2010 9:40am
Quoting ab1
But what we need to find out for ourselves is when is the time right to open a trade. Thats the skill, ask yourselves, why would anyone else open a trade at this point, the point Im going to ?
For me it's number 2 in reverse.

2. Cutting and running away from losses should be done according to time of day, beginning of session/end of session and with an awareness of likely support/resistance that may help your cause nearby. If you bought and you have to scroll the chart to find the nearest support, not the best situation.

2. Opening and holding winners should be done according to time of day, beginning of session/end of session and with an awareness of likely support/resistance that may help your cause nearby. If you bought and you have to scroll the chart to find the nearest resistance, not the worst situation.

Should that work out, and mostly is should... I refer to No.1 and if that's working out well, I go ahead with number 3, while keeping in mind number4. Right now my only focus is number 6.

Heading out to enjoy a Saturday night, you should all do the same if you haven't done so already.
  • #209
  • Sep 18, 2010 10:10am Sep 18, 2010 10:10am
Quoting SerpentDove
For me it's number 2 in reverse.

2. Cutting and running away from losses should be done according to time...
LOL.... heading out on a Saturday night.....been there done it, "big time" these days its slippers by the fire and a pipe

Clearly a young gun at work...lol...Enjoy your Saturday night !
  • #210
  • Sep 19, 2010 3:56am Sep 19, 2010 3:56am
Quoting ab1
LOL.... Clearly a young gun at work...lol...Enjoy your Saturday night !
Yeah, not too long in the teeth yet. I have to say though, sometimes when I go out it's purely for nostalgic purposes

I'm 33 and trade via satellite (satellite sucks if anyone has been wondering, totally a connection of last resort) renovating a home in the mountains I inherited a few years ago. I think it will make a great vacation/retirement home. Once I crossed 30 all I could think about was retiring and and not having a mortgage. Jumping the gun a little?

I have my fingers crossed for a return of the Drachma, not holding my breath, but it would be quite a treat to wake up one day and find that what I usually pull out of the market in a good week buys 10 to 20 times what it used to. I would definitely consider a pool at that point

The phone company started laying down fiber optic cable under the highway that passes near me... woulda saved a fortune on internet if they did it 5 years ago, better late than never I guess. Anyway, not too many young guns out here.... population within ten miles/15klm in any direction is.....25. By the time I submit this reply it will probably be 24.

Hopefully I'll have this house finished up by next year with 3 fireplaces to smoke a pipe next to in the future, only one fireplace left to go. A new ceramic tile roof is going to be a pain without that Drachma though

Attached is photo of where I have a) been sorting out my inadequacies as a human being,ie learning how to trade. b) attempting to build a financial empire (so far it amounts to getting by comfortably and a whole lot of sweat equity), for the last 5 years.

There is going down the path less trodden, and then there is carving out a path where none exists.
Attached Image (click to enlarge)
Click to Enlarge Name: InDaHood.jpg Size: 76 KB
  • #211
  • Sep 19, 2010 4:16am Sep 19, 2010 4:16am
Quoting ab1
No disrespect meant here my friend, but why do you bother to post on here? what are you trying to actually say?

...
J have actually elaborated it excellently, I don't think there's any need to rephrase it.
A couple of additional notes (I am a stranger to you so it's up to you if you'd take it under consideration or not... honestly in both cases I don't really care):
- all your questions have already been answered somewhere in this forum.
- I trade for a living and I could explain what my trading method is (I won't so whoever's reading this - don't bother), however I doubt it will work for you the way it works for me. It's not because I think you are stupid, incapable or any other sort of personality judgement - it's the simple fact that you don't need a method that works in the market. You develop a modus operandi that works for you. Like I said - this a not a game, this is a very, very, VERY serious business.

Enough said. Good luck in you endeavour.

Rgrds
S
  • #212
  • Sep 19, 2010 4:17am Sep 19, 2010 4:17am
Be careful installing that fireplace...

Inserted Video
  • #213
  • Sep 19, 2010 5:10am Sep 19, 2010 5:10am
Quoting Setebos
J have actually elaborated it excellently, I don't think there's any need to rephrase it.
A couple of additional notes (I am a stranger to you so it's up to you if you'd take it under consideration or not... honestly in both cases I don't really care):
- all your questions have already been answered somewhere in this forum.
- I trade for a living and I could explain what my trading method is (I won't so whoever's reading this - don't bother), however I doubt it will work for you the way it works for me. It's not because I think you are stupid,...

Well said mate, I would just have blown up

Anyhow, I will share two things I have said several times and why not repeat myself. I have been trading stocks for a long time and my income comes from there, not FX but I have to say I am growing every month.

Anyhow 2, the best tip I could give to anyone starting is to go to www.collective2.com and have a free look on some of the systems (both discretionary and mechanical).

Why you might say--> because the guys in there are on the other site and prove that they are profitable day after day.

Trading in the dark is extremely hard so why not have a look on an account which is profitable. All I am saying...

-=-=-

For those who don't believe in mechanical trading, last year there was someone who stole from Goldman Sachs a fully working mechanical system. Google it


All I am saying is that there is numerous ways to trade and be profitable, you just have to be consistent and make a system you understand and be consistent with it... Like the song, Know when to fold them...
for those who are still reading-->you are then probably eager enough to be successful..
  • #214
  • Edited 10:45am Sep 20, 2010 12:24am | Edited 10:45am
Quoting Setebos
J have actually elaborated it excellently, I don't think there's any need to rephrase it.
A couple of additional notes (I am a stranger to you so it's up to you if you'd take it under consideration or not... honestly in both cases I don't really care):
- all your questions have already been answered somewhere in this forum.
- I trade for a living and I could explain what my trading method is (I won't so whoever's reading this - don't bother), however I doubt it will work for you the way it works for me. It's not because I think you are stupid,...
Appreciate your contribution, however, we know this is a serious business, I am a successful businessman myself for twenty years, but in another profession, so I am well versed with financial risk, high rewards and also failures that business can bring. It comes with the territory.

But your missing the point of this thread completely. We dont want to be told off by you or others for trying to search for answers to trading, In my case Im not after a system, I dont care about your personal method, this is a pursuit for increasing knowledge, Im interested in what approach a professional trader takes, what out of all the methods listed in post #1 they use, Im not asking how they apply those methods, just if any, which ones they use. If your not interested in sharing information, then thats fine, because I couldn't care less either way myself.

But if you are and your claim of being a successful trader is true, then we would all be happy to listen.

cheers
  • #215
  • Sep 20, 2010 12:33am Sep 20, 2010 12:33am
Quoting Larseg
Well said mate, I would just have blown up

Anyhow, I will share two things I have said several times and why not repeat myself. I have been trading stocks for a long time and my income comes from there, not FX but I have to say I am growing every month.

Anyhow 2, the best tip I could give to anyone starting is to go to www.collective2.com and have a free look on some of the systems (both discretionary and mechanical).

Why you might say--> because the guys in there are on the other site and prove that they are profitable day...
Thanks for the information, I will go and have a read, Im sure there's plenty to be learnt on there.

Don't understand your comment about "I would have just blown up", why start getting all emotional about it, Im entitled to ask questions and give opinion as much as the next guy. I wasnt being rude, If you dont like my thread, then my response is a simple one, dont come on here and post. This type of exchange just leads to a complete waste of time, effort and energy.

But anyway thanks again for the information
  • #216
  • Sep 20, 2010 4:03am Sep 20, 2010 4:03am
Quoting ab1
Thanks for the information, I will go and have a read, Im sure there's plenty to be learnt on there.

Don't understand your comment about "I would have just blown up", why start getting all emotional about it, Im entitled to ask questions and give opinion as much as the next guy. I wasnt being rude, If you dont like my thread, then my response is a simple one, dont come on here and post. This type of exchange just leads to a complete waste of time, effort and energy.

But anyway thanks again for the information

Yes, lots of good stuff there
  • #217
  • Sep 23, 2010 6:02am Sep 23, 2010 6:02am
Quoting ab1
It has lead to much more than I had hoped for outside of this forum, I have found things out that are truly going to and are actually elevating my trading, I believe I have a far greater understanding of the markets and what its all about and its got absolutely nothing to do with systems, which I guess in my 1st post I thought it did.
Would you please elaborate more? I'd be happy to know.
  • #218
  • Nov 8, 2010 7:14am Nov 8, 2010 7:14am
Quoting ab1
Appreciate your contribution, however, we know this is a serious business, I am a successful businessman myself for twenty years, but in another profession, so I am well versed with financial risk, high rewards and also failures that business can bring. It comes with the territory.

But your missing the point of this thread completely. We dont want to be told off by you or others for trying to search for answers to trading, In my case Im not after a system, I dont care about your personal method, this is a pursuit for increasing knowledge, Im interested...
... 30 years of experience is described here
http://www.forexfactory.com/showthread.php?t=57639

maybe wrote Setebos

Rgs
  • #219
  • Nov 9, 2010 6:30am Nov 9, 2010 6:30am
Quoting Larseg
Well said mate, I would just have blown up

Anyhow, I will share two things I have said several times and why not repeat myself. I have been trading stocks for a long time and my income comes from there, not FX but I have to say I am growing every month.

Anyhow 2, the best tip I could give to anyone starting is to go to www.collective2.com and have a free look on some of the systems (both discretionary and mechanical).

Why you might say--> because the guys in there are on the other site and prove...
I checked out that site collective. Point me to some other page if I'm wrong, but all it is, is a signal service with guys trying to get you to subscribe a monthy fee for their signal.

There are no descriptions on how to trade any system there, they just show stats and try to get you to buy their signal service. Basically it's a hub for multiple signal services.

I wouldn't be surprised if it was just one guy marketing multiple signal services to make it look like a bunch of different systems, just trying to harvest montly subscription services. Notice all the disclaimers. Anyone could put up a site like that just by copying all the free systems here and posting bogus stats.
  • #220
  • Aug 30, 2011 12:57pm Aug 30, 2011 12:57pm
As a professional Forex Trader i must say that if you want to succeed you just need discipline,good money management and a good probability system. Why do you think 95% of people lose money as a Trader? It's because most part of people cannot be disciplined. That's why they don't succeed in other matters too. A system that works well today maybe tomorrow won't work so good. Just work hard being disciplined and you will do it. And of course, you need money.With a 1k account will be difficult to be millionaire.
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