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Ridiculous Trading Myths

  • #121
  • Nov 6, 2010 4:09pm Nov 6, 2010 4:09pm
[quote=CindyXXXX;4152201]How can you disprove this?

I think the biggest myth is that there is no holy grail... Just hear me out!

I dont waste my time searching for it, but what can I say Im a believer!

Wheather its through manipulation by a privaleged few or a true discreprecy in the system I believe its out there, but good luck finding it.

It would probably hide in a formula long enough to wrap around the world 3 times, who knows

quote]

Actually I'm of a mind to think that as complex as the "Holy Grail" may be, if ever discovered, it may actually be reduced to a simple formula. After all, Einstein reduced the complexity of the Universe to e=mc2 and Mandelbrot reduce the complexity of the natural world to Z=Z2+C (or something close to that - its been a while since I looked it up). So, for all I know, Forex can be reduced to three basic moving averages. Is it the Holy Grail? Everyone will have to answer that one for themselves. Been working for me for some time though.
Stay calm, be brave, wait for the signs - Jasper Friendly Bear
  • #122
  • Nov 6, 2010 4:15pm Nov 6, 2010 4:15pm
Quoting CindyXXXX
haha - could be many reasons... But egos in the money making world run rampert and I think this may have something to do with it.

I hate the one where someone says something, then another person says

"ohhh no you've let the cat out of the bag now",

and then they respond by saying

"oh dont worry 99% of people that read this wont get it any way"

This makes them feel smarter than everyone else and this is surely all they're after...


When in truth, if 99% of people dont get it they have probably just spoken in riddles and not explained...

Sigh............there is NO secret formula but there are certainly people who think they have one. The market is always changing anyways so what works today may not work tomorrow.
  • #123
  • Nov 6, 2010 4:15pm Nov 6, 2010 4:15pm
Quoting fxhermit
Yeah, I don't get this ...... is the Mafia gonna rub you out??? Hell, just make an e-book out of it, give it a stupid name (Forex Slayer), attach a few rehashed indicators and sell through Clickbank. Oh wait, its already been done.
...
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  • #124
  • Nov 6, 2010 4:19pm Nov 6, 2010 4:19pm
Quoting hanover
Re the idea of a secret 'Holy Grail' formula,.....
This discussion saved a lot of time. Was about to start a new thread on Holy Grail formula.

You may not believe this to be true and still not trust why one would share this on an open forum ........ but time will tell

The formula is Consistency regardless of time factor or number of pips involved.

Did you get it? If no, the key is consistently trade based on logic.

1. Any formula, system or method not supported by a real (not virtual) logic is useless. When I say real logic it means economic conditions and actions of economies not fibs, trendlines, oscillators, BBs or other technicals.

2. Consistency means your tps and sls should give you equal amount of profit or loss and you trade a consistent % of your account balance that was just prior to taking a trade. There is a whole logic and supportive working behind when I say "account balance JUST PRIOR TO taking the trade."

Think about it and try to convince that I am wrong. I know what questions to expect from my above post........... These questions will start with spreads, news releases, r/r, etc and will end on MM.
The Thief of Wall Street
  • #125
  • Nov 6, 2010 4:19pm Nov 6, 2010 4:19pm
Quoting hanover
Re the idea of a secret 'Holy Grail' formula, exactly what form would it need to take?

I believe that there's sufficient randomness in price movement to ensure that there's an upper limit to the efficacy of ANY system. I'm not trying to be negative, just realistic.
Yes, I think you are right to a degree. I see the randomness as the market noise, underlying that, I believe, is a truer structure of the market (Impulse waves and Corrective waves). The trick (Holy Grail??) lies in exploiting the wave action without being unduly trashed by the noise (randomness). Therein lies your "upper limit to the efficacy of any system". The myth - that the Holy Grail is perfect.
Stay calm, be brave, wait for the signs - Jasper Friendly Bear
  • #126
  • Nov 6, 2010 4:22pm Nov 6, 2010 4:22pm
Quoting Slack
...
Stay calm, be brave, wait for the signs - Jasper Friendly Bear
  • #127
  • Nov 6, 2010 4:31pm Nov 6, 2010 4:31pm
Quoting hanover
"OK, what you're saying is that price can go no lower, right?" The analyst said "Absolutely. This is the low of the day". His boss immediately picked up the phone and said "Sell two million beans at market", and within 30 seconds, the soybean price had dropped another 10c. The boss said "Now where did you say price was going to stop? And if I can cause that, anybody can".

.
haha I remember reading that. and I do agree, but theres no 100% hardcore proof either way and so I dont think you can say with 100% conviction that theres no way to trade at 100%. Thats all I was getting at

I dont care either way really because Im happy doing what I do and 100% is definetely not that.

I have heard a post of Darkstar who says he only trades when there is a 100% chance he's right and so risks 12% per trade or something. But I think he may have the biggest ego here lol no disrespect.
Time hides Nothing
  • #128
  • Nov 6, 2010 4:32pm Nov 6, 2010 4:32pm
HAHA should never have mentioned the HG word! Sorry, its always a good way to ruin a good thread sorry Slack,. I hate it as much as you guys, was just being open minded
Time hides Nothing
  • #129
  • Nov 6, 2010 4:38pm Nov 6, 2010 4:38pm
Quoting hubbahubba
Sigh............there is NO secret formula but there are certainly people who think they have one. The market is always changing anyways so what works today may not work tomorrow.
Although I agree that there really is no secret formula I don't necessarily agree that the markets are always changing in the manner that I think you must mean. Yes, the markets are constantly changing but that change, I believe, can be decifered and consistently exploited. As I said in my previous post, noise, in all of its various manifestations can obscure the undelying Impulse and Corrective wave motion of the market. That wave motion has been the the structure of all time/price plotted charts since the beginning of technical analysis. When we read about the old time master traders (Livermore, et al) they all found their success because this wave structure is something they also understood, its just that they called it "the trend is your friend untill it bends." Well, guess what, trends are still common place in markets today and likewise are the simple methods to exploit them.
Stay calm, be brave, wait for the signs - Jasper Friendly Bear
  • #130
  • Nov 6, 2010 4:43pm Nov 6, 2010 4:43pm
Quoting CindyXXXX
haha I remember reading that. and I do agree, but theres no 100% hardcore proof either way and so I dont think you can say with 100% conviction that theres no way to trade at 100%. Thats all I was getting at

I dont care either way really because Im happy doing what I do and 100% is definetely not that.

I have heard a post of Darkstar who says he only trades when there is a 100% chance he's right and so risks 12% per trade or something. But I think he may have the biggest ego here lol no disrespect.
Some people I just don't understand ( and I have never understood any thing DS has posted ), but if I was 100% right I would risk a lot more than 12%, probably closer to every thing I own.

About 2 or 3 months ago DS posted a life trade, can't remember the thread, but it was a loser.
  • #131
  • Nov 6, 2010 4:46pm Nov 6, 2010 4:46pm
you can risk 12% or so if you have a 90%+ hit pretty much... why not?

the holy grail is known.... you guys didn't know?

it isn't retail trading. you need a lot of cash.... and still there are other factors to worry about, but it's pretty much risk free on the trading part, 100% hit.

can't say too much, I have been told to shut up.
  • #132
  • Nov 6, 2010 4:49pm Nov 6, 2010 4:49pm
Quoting Monroe
you can risk 12% or so if you have a 90%+ hit pretty much... why not?

the holy grail is known.... you guys didn't know?

it isn't retail trading. you need a lot of cash.... and still there are other factors to worry about, but it's pretty much risk free on the trading part, 100% hit.

can't say too much, I have been told to shut up.
lol dont worry even if you told us 99% of the people here wouldnt get it anyway

o man something tells me im never gonna get this assignment done....
Time hides Nothing
  • #133
  • Nov 6, 2010 4:53pm Nov 6, 2010 4:53pm
Quoting CindyXXXX
lol dont worry even if you told us 99% of the people here wouldnt get it anyway
lol... yes i know...
  • #134
  • Nov 6, 2010 4:57pm Nov 6, 2010 4:57pm
Quoting fxhermit
Laugh all you want, but this baby comes with an Ironclad Guarantee!

I'm filthy rich
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  • #135
  • Nov 6, 2010 5:06pm Nov 6, 2010 5:06pm
Quoting Monroe
you can risk 12% or so if you have a 90%+ hit pretty much... why not?

the holy grail is known.... you guys didn't know?

it isn't retail trading. you need a lot of cash.... and still there are other factors to worry about, but it's pretty much risk free on the trading part, 100% hit.

can't say too much, I have been told to shut up.
Monroe, if you have been told to shut up, it means you have the secret magic formula. Stand up and defy them. Goddam it man, post it here, and we will write an EA for it.
  • #136
  • Nov 6, 2010 5:10pm Nov 6, 2010 5:10pm
Quoting Slack
Laugh all you want, but this baby comes with an Ironclad Guarantee!

I'm filthy rich
Iron clad guarantee. Jacko is back.
  • #137
  • Nov 6, 2010 5:13pm Nov 6, 2010 5:13pm
Quoting Monroe
.......I have been told to shut up.
Does it mean you cannot even fart?
The Thief of Wall Street
  • #138
  • Nov 6, 2010 5:15pm Nov 6, 2010 5:15pm
Quoting Slack
Laugh all you want, but this baby comes with an Ironclad Guarantee!

I'm filthy rich
Looks like a solid 3 MA plus RSI system. Have at one point traded something similar. Like most MA based systems, they can be consistently profitable more or less so depending on your experience and skill level.

P.S. What's it like to be filthy rich??? kinda like being stinkin' rich I suppose

Oh, the Ironclad Guarantee - one of my all time favourite myths!
Stay calm, be brave, wait for the signs - Jasper Friendly Bear
  • #139
  • Nov 6, 2010 5:25pm Nov 6, 2010 5:25pm
Quoting CindyXXXX
I have heard a post of Darkstar who says he only trades when there is a 100% chance he's right and so risks 12% per trade or something.
I'm quite sure DS never said that (re: 100%), are you thinking of this?
Quote
A good part of why this works is because I don't take any random trade. If I don't know exactly what’s going on I hold off until I do.
http://www.forexfactory.com/showpost...2&postcount=16
  • #140
  • Nov 6, 2010 5:29pm Nov 6, 2010 5:29pm
Quoting eurotrash
I'm quite sure DS never said that (re: 100%), are you thinking of this?
http://www.forexfactory.com/showpost...2&postcount=16
Nope - thats what he said - perhaps was more along the lines of "i dont trade unless I think I have a 100% chance of success"

Maybe hes changed things sice then but once upon a time this is what the man said

Feel like I just slapped Jesus lol

EDIT: if I ever finish this freaking assignment I will try and dig it up maybe. But someone else may be a able to back me up on this cause its not the sort of statement you forget.
Time hides Nothing
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