No more BS - What have you learned? | Page 31 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

What have you learned? 231 replies

What I have learned trading & How I developed my system 6 replies

It's been 3 years what have I learned? 82 replies

What Have I Learned Since 2006?? 1 reply

Attachments: No more BS - What have you learned?
Exit Attachments

No more BS - What have you learned?

  • #601
  • Sep 25, 2010 3:27am Sep 25, 2010 3:27am
Quoting Mr J
I've learned that I disagree with most that has been said in this thread.

Just a few counterpoints to posts I disagree with on the first few pages:

1. Determination is not enough.
2. Time and positive expectancy do not inevitably lead to success.
3. The market is always worth trading, it's just a matter of identifying the opportunity. At any moment in time, someone is in a good trade.
4. We can learn from demo, but for the vast majority of people, losing on it is a different beast to losing in real life.
5. Compounding is basic maths,...
Great list, thanks.
  • #602
  • Sep 25, 2010 6:42pm Sep 25, 2010 6:42pm
i'm not sure where exactly it is... but for a 'no more bs' thread my bs detector is kicking in hardcore.

i have a feeling we have a 'blind leading blind' situation here. there are some interesting ideas and all, but i wonder who is milking the forex teat and who is getting the cow pat on the head :/

you only need to look under my name to know where i stand / sit.
Congratulations ScalaFX for coming out of the closet!
  • #603
  • Sep 25, 2010 7:22pm Sep 25, 2010 7:22pm
I've learned that it's a lot like this:

Inserted Video
!
  • #604
  • Sep 25, 2010 7:36pm Sep 25, 2010 7:36pm
Since we're on the thread of "No more BS - what have you learned?"

Has anybody been making a consistent annual profit?

If not, you have to begin to ask why is that?

On a brighter note, anyone remember "Million Dollar Traders". Apparently, Anton Kreil is doing a UK tour teaching traders how to trade like the pros. It was published in 'The Telegraph' a few weeks ago.

I'm desperately searching for how to buy tickets.
"The trend is your friend, until the end."
  • #605
  • Sep 25, 2010 7:46pm Sep 25, 2010 7:46pm
Quoting ForexRookie
Since we're on the thread of "No more BS - what have you learned?"

Has anybody been making a consistent annual profit?

If not, you have to begin to ask why is that?
.
Part of the answer may be that the government won't stop jerking people around as per:

Inserted Video
!
  • #606
  • Sep 25, 2010 7:52pm Sep 25, 2010 7:52pm
How do you figure? Because I'm not seeing your point of view.

At the end of the day, it simply comes down to how much you make per month/quarter/annually.

From past experience: Day trading does not work. That is where 95% of the money is lost.
"The trend is your friend, until the end."
  • #607
  • Sep 25, 2010 7:55pm Sep 25, 2010 7:55pm
I will openly admit that my returns are not to my targets or standards.

I have a some knowledge of how to trade and analyse markets. But I want to be taught how to trade by a professional.

Not just anybody. But someone who has actually been successful. Not just another one of these "Trading Robots" or Trading Scams which ask for £3,000 to teach you how to trade, when they have no concern at all for your risk capital.
"The trend is your friend, until the end."
  • #608
  • Sep 25, 2010 8:13pm Sep 25, 2010 8:13pm
Quoting ForexRookie

From past experience: Day trading does not work. That is where 95% of the money is lost.
"95%" means absolutely nothing. It is a common trait among humans. A few will excel at a particular endeavor. That doesn't mean that another 40% can't be at least moderately successful. Consider any vocation...... there are the "sinfully successful" and those who simply succeed.

Day trading works for those who make it work. If it isn't for you then maybe something else is. If you want to pay someone that you can follow, that's your decision but you won't learn much. You will always be a "dependent".
  • #609
  • Sep 25, 2010 8:25pm Sep 25, 2010 8:25pm
Quoting Mr J
I've learned that I disagree with most that has been said in this thread.

Just a few counterpoints to posts I disagree with on the first few pages:

1. Determination is not enough.
2. Time and positive expectancy do not inevitably lead to success.
3. The market is always worth trading, it's just a matter of identifying the opportunity. At any moment in time, someone is in a good trade.
4. We can learn from demo, but for the vast majority of people, losing on it is a different beast to losing in real life.
5. Compounding is basic maths, not the...
Mr. J has probably what is the best "common sense" post in this thread.... though I admit I have not read every single post.... I really don't feel the need to.
  • #610
  • Sep 25, 2010 8:25pm Sep 25, 2010 8:25pm
There is a good reason why 5% of the people are making 95% of the money and why Forex is a zero-sum game.

I wouldn't be paying someone to be a mentor. I would be simply following their lead on how they became successful at the trading floors of the largest and most successful Investment Banks in the world. Dealing in execution orders worth at least $10,000,000.

I'm talking about your Goldman Sachs, J.P Morgan, Bank of America. These are the guys you want to be learning from.
"The trend is your friend, until the end."
  • #611
  • Sep 25, 2010 9:00pm Sep 25, 2010 9:00pm
Quoting ForexRookie
There is a good reason why 5% of the people are making 95% of the money and why Forex is a zero-sum game.

I wouldn't be paying someone to be a mentor. I would be simply following their lead on how they became successful at the trading floors of the largest and most successful Investment Banks in the world. Dealing in execution orders worth at least $10,000,000.

I'm talking about your Goldman Sachs, J.P Morgan, Bank of America. These are the guys you want to be learning from.
First of all..... forex is NOT a zero-sum game. A zero-sum game is described as a "Heads-I Win, Tails-You Lose" game where there is only a winner and a loser.
Foreign Exchange cannot be described that way. It creates jobs (for one) through broker activity, etc., etc. The point being that there is not simply a loser and winner for every trade.

If you want to pay someone so that you can follow them then there is no shame in that...... go ahead. Personally, I would like to be responsible for my own decisions......... be they good or bad. At least...... I will learn from my own mistakes and not bitch and moan because I followed someone's bad advice and I won't go whining to "someone" because they treated me wrong (i.e. my broker is a crook, blah, blah)

I know full well the risks.......... I accept that responsibility.
  • #612
  • Sep 25, 2010 9:09pm Sep 25, 2010 9:09pm
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 - ?
hi i m a new trader and i would like to say and ask to u i have learnt alot from my experiance but still i m not even close to perfect but one thing i must say which may useful to u before u goin to sell currency u must thing tht from many years everything gets expensive as compare to previous year so try always buy from ur suppport level it may help u and obviouly try to work with stop loss the time u have ur balace u will stay in bussiness otherwise u loss everything
  • #613
  • Sep 25, 2010 9:24pm Sep 25, 2010 9:24pm
try to always a buyer of the currency except jpy caz there moves are very fast even in selling if u a good buyer from the 3rd support or even low for tht just patience is requied so try 2 be a buyer compare 2 the seller and remember always take patience before or after ur trade work like a machine do wht u decided all the best
  • #614
  • Edited 9:58pm Sep 25, 2010 9:56pm | Edited 9:58pm
Quoting TradeRunner
First of all..... forex is NOT a zero-sum game. A zero-sum game is described as a "Heads-I Win, Tails-You Lose" game where there is only a winner and a loser.
Foreign Exchange cannot be described that way. It creates jobs (for one) through broker activity, etc., etc. The point being that there is not simply a loser and winner for every trade.
I don't know what the hell you are talking about, but... Forex is not a zero sum game, it is actually a negative sum game, because of the spread. The fact that the foreign exchange market creates jobs has nothing to do with the fact, that trading is and always was a zero sum game. Stating anything differently especially with those silly arguments, just shows how ignorant your are to the matter. For every buyer has to be seller, whenever someone makes money, that money has to come from someone else, who lost it. It's a very basic concept, and one of very few FACTS, when it comes to forex.

Quoting TradeRunner
If you want to pay someone so that you can follow them then there is no shame in that...... go ahead. Personally, I would like to be responsible for my own decisions......... be they good or bad. At least...... I will learn from my own mistakes and not bitch and moan because I followed someone's bad advice and I won't go whining to "someone" because they treated me wrong (i.e. my broker is a crook, blah, blah)

I know full well the risks.......... I accept that responsibility.
To be able to do anything of any complexity well, one needs knowledge. And in almost any profession, you have to pay to obtain that knowledge. I don't see what's wrong with paying for forex education. You will still be responsible for your own decisions, having someone teach you, does not eliminate that. And it is not about following someones advice. It is about having someone teach you some principles, that you may otherwise never discover, regardless of how many mistakes you make. Now, i have never had someone specifically teaching me, but i can say that i have learnt from a lot of people. If i would have had the chance however, back when I started my journey, to have an honest, knowledgeable person teaching me, and showing me the way, I am sure it would have speeded up my learning. Just sayin'
Stubbornly persistent
  • #615
  • Sep 25, 2010 10:37pm Sep 25, 2010 10:37pm
Quoting sergiu
I don't know what the hell you are talking about, but... Forex is not a zero sum game, it is actually a negative sum game, because of the spread. The fact that the foreign exchange market creates jobs has nothing to do with the fact, that trading is and always was a zero sum game. Stating anything differently especially with those silly arguments, just shows how ignorant your are to the matter. For every buyer has to be seller, whenever someone makes money, that money has to come from someone else, who lost it. It's a very basic concept, and one...
Perhaps you failed to notice that the definition of a zero sum game is...(please read).... there is NOT a winner and a loser in every regard in Forex.... therefore it simply cannot qualify as a zero sum game and I'm sorry to see that you are so misinformed and as ignorant in the matter as is the general public which probably allowed the Dodd Frank BS to pass.

If you would also care to actually interpret some of what was written..... I DID NOT SAY that paying for education was a bad thing.... why don't you READ WHAT WAS WRITTEN.... and yeah.... having an honest person to show you the way would be great.... well, GOOD LUCK with that bro'
  • #616
  • Sep 25, 2010 10:47pm Sep 25, 2010 10:47pm
Quoting sergiu
I don't know what the hell you are talking about, but... Forex is not a zero sum game, it is actually a negative sum game, because of the spread. The fact that the foreign exchange market creates jobs has nothing to do with the fact, that trading is and always was a zero sum game. Stating anything differently especially with those silly arguments, just shows how ignorant your are to the matter. For every buyer has to be seller, whenever someone makes money, that money has to come from someone else, who lost it. It's a very basic concept, and one...
I'm anxiously awaiting your highly intelligent rebuttal so get on with it.... I have other things to do

?????????????
  • #617
  • Sep 25, 2010 10:50pm Sep 25, 2010 10:50pm
  •  Czech
  • | Joined Feb 2010 | Status: You Don't Know What You Don't Know | 111 Posts
Quoting TradeRunner
Perhaps you failed to notice that the definition of a zero sum game is...(please read).... there is NOT a winner and a loser in every regard in Forex.... therefore it simply cannot qualify as a zero sum game
Unless you're reasoning that it's a negative sum game (you haven't actually suggested an alternative), there is no debate that you are wrong here. While I'm sure you noticed what the definition of a zero sum game was you obviously failed to comprehend it. As was mentioned, forex is actually a negative sum game where the sum of all winners and losers is negative due to the spread.
  • #618
  • Sep 25, 2010 10:58pm Sep 25, 2010 10:58pm
Quoting TradeRunner
I'm anxiously awaiting your highly intelligent rebuttal so get on with it.... I have other things to do

?????????????
Here is a not so intelligent rebuttal.

You sir are a moron.

I have never heard anyone discuss job creation when talking about whether or not something is zero sum.

Zero sum is simply If I win +1 then someone loses -1 therefore adding together it equals 0.

Again you sir are an idiot.

May god have mercy on your soul because everyone who has read your ramblings have been made forever and irrevertably dumber.
  • #619
  • Sep 25, 2010 11:02pm Sep 25, 2010 11:02pm
Quoting TradeRunner
Perhaps you failed to notice that the definition of a zero sum game is...(please read).... there is NOT a winner and a loser in every regard in Forex.... therefore it simply cannot qualify as a zero sum game and I'm sorry to see that you are so misinformed and as ignorant in the matter as is the general public which probably allowed the Dodd Frank BS to pass.

If you would also care to actually interpret some of what was written..... I DID NOT SAY that paying for education was a bad thing.... why don't you READ WHAT WAS WRITTEN.... and yeah.......
For every winner there is a loser. Period! And if you have any factual evidence that would prove otherwise, i would be very amused to see it.

I do not need luck with finding ah honest teacher, since I am not looking for one. And I am not your bro'!!!
Stubbornly persistent
  • #620
  • Sep 25, 2010 11:06pm Sep 25, 2010 11:06pm
Quoting Czech
Unless you're reasoning that it's a negative sum game (you haven't actually suggested an alternative), there is no debate that you are wrong here. While I'm sure you noticed what the definition of a zero sum game was you obviously failed to comprehend it. As was mentioned, forex is actually a negative sum game where the sum of all winners and losers is negative due to the spread.
As was noted.... by the strict definition of there only being a loser or a winner (as in a coin toss) forex does not fit that definition.... there will be some who make money.... no matter what. Do you suppose that is the reason for a brokers longevity or are they just "tossing a coin".
0 traders viewing now