The nail that sticks out gets hammered back in
Trading Myths and Some Forex Math 337 replies
What are your favorite trading myths? 145 replies
Popular Trading Tips: Truths or Myths 36 replies
Dispelling Some Myths on Trading Practices 23 replies
Trading Myths 35 replies
DislikedI'm really happy for you that you're able to beat the market, but finding an edge cannot be "easy" for the very simple reason that Forex is a zero sum game, and that you have to pay to participate. On that note, I'm curious how your apprentice is going to perform in the future.
You can find it easy (and apparently you do), but it isn't easy for the general participant, for the reason described above. It's like Usain Bolt saying running 100 meters in under 10 seconds is easy, as he does it consistently.Ignored
Dislikedlol 10 in a row... IMPOSSIBLE!! whuhahahaha!!!
but I agree with what Marv said, it's really about what your system is capable of. what is the reward on wins?
Take it to the max, or go home like a chump. If you really have an edge with anything close to 90% win rate, you're telling me you're going to stick to (what I consider a definite trading myth) 1-2% BS?
1-2% risk with no real edge playing TA patern/indicator probabilities fine... but if you have a real edge things are different aren't they?Ignored
Dislikedlol
Personally I believe the 95% of traders don't make it statement is a myth.
I just think 95% of people don't have the patience to become a successful trader.Ignored
DislikedIMO Market is both Random and Predictable.
Lets say we have a system/method that tells us that if price breaks 100, it will hit 110. This is where market is predictable to some extent, like 70%-95% of the times ( according to our Win ratio).
Now we do not know in what manner price is going to hit 110 and this is where its random.
Will is shoot straight to 110 in a day?
Will it go to 105 than retrace back to 102 and than will hit 108 and than retrace back to 105 and than shoot straight to 110??
Will it go to 109 and than stay there for...Ignored
DislikedThat may be so in your mind, but there are plenty of us that know differently and make money by seeing clarity and opportunities in your chaos.
Think about it if the market was truly chaotic and random then anybody using a coin toss would make the same returns as a trader with 10 years on the floor.
If you truly believe in the randomness of the markets why waste the time trading? Do you think you have more luck then others? Is that why you even attempt trading in your chaotic markets?
If the markets were truly chaotic and random, there would...Ignored
DislikedIt is my belief that one of the first steps a trader should take is to acknowledge and learn how to deal with such predominant randomness in the markets, yet it seems most traders bypass that through ignorant denial.Ignored
DislikedWell i learnt my lessons the hard way in a span of last 2.5 years so i wont talk further about 1%-2% or that you can never have 10 losses in a row.
If i have an edge or something that guarantees that the next trade will be a winner no matter what i'd risk 60% of my account on it.... but dont have one
.Ignored
DislikedFor starters there is the cost of trading, which precludes it from ever being zero sum...Ignored
DislikedYep I agree 100%, I would just use the higher timeframes to filter out the noise.Ignored
DislikedThat is simply not true and the reason is fundamentals. A market that jumps up the minute a good jobs or manufacturing report comes out is NOT random!Ignored
DislikedPersonally I believe the 95% of traders don't make it statement is a myth.
I just think 95% of people don't have the patience to become a successful trader.Ignored
DislikedI'm really happy for you that you're able to beat the market, but finding an edge cannot be "easy" for the very simple reason that Forex is a zero sum game, and that you have to pay to participate. On that note, I'm curious how your apprentice is going to perform in the future.
You can find it easy (and apparently you do), but it isn't easy for the general participant, for the reason described above. It's like Usain Bolt saying running 100 meters in under 10 seconds is easy, as he does it consistently.Ignored
DislikedI guess I'm just a little confused then. I only recently started coming to this forum all that often. I find it very interesting how different people "skin the forex cat". If trading the forex is sooooooo hard, why is everyone doing it. The point is to make money. I know I wouldn't be on here looking for answers or handing out cynicism to everyone that does know what they are doing. Why is everyone here?Ignored
DislikedFor starters there is the cost of trading, which precludes it from ever being zero sum, secondly the largest part of the volume in FX is non-speculative and thirdly there is no final settlement. That in a nutshell is why FX can never be zero sum.Ignored
DislikedTo me that is just market makers / dealers capitalising on news announcements.
If you were trading a weekly chart you would hardly notice a spike like that.Ignored