Oh my! i made many stupid things while drunk, but i never peed into refrigerator!! well, at least from what i can remember...
- #107
- Edited 2:55am Feb 3, 2011 2:22am | Edited 2:55am
- Joined Sep 2008 | Status: hardcore chartist | 2,173 Posts
- #109
- Feb 3, 2011 7:51am Feb 3, 2011 7:51am
The subject is so interesting... that I don't even know how to start.
Everything began last year, as I realized that my salary wouldn't be enough to keep paying my bills in the long term
I discovered the real estate market in 2007 and since then I started to build an empire based on bank loans 
. It's so silly. I have a pretty nice income, still I managed to get in trouble.
I had to find a way to earn more money. The stock market looked too complicated. Somehow I got to see those FX ads and then a list of advantages compared to stocks. They sounded so good that I decided to go deeper. If billions are moving everyday, one millionth of that would be enough for me!
Making it "short": I lost EUR 1000 with "gambling" in 10 days. Then I created a crazy strategy and lost EUR 2000 in 5 days. Finally my IT mind decided to work :nerd:: I developed a small program which calculated some simple statistics based on historical data. I run it over the gold rates from the last 2 years. From that, I found out exactly how big my orders should be and where to place them. I even calculated how much I would earn in average: EUR 800/month. Not bad.
Well, that's what I'm doing now. And it's really working. First I worked only on H1, meaning that I had to check the market once an hour. The next month I started running my strategy on M5 and it basically doubled my wins. After 2.5 months I recovered all my losses. But this means for me: 80 hours per week in front of the computer. No, I'm not going to do this forever, but now it's necessary
.
So what changed in my life?
1) lots of work. I trade beside my real job, which I will quit in some months. I bought a netbook and follow-up the trading inside the train. I rarely do anything else. Last week I went to the cinema and switched on the netbook in order to see if everything was fine
2) trading and winning became a mathematical certainty. My strategy is built on a software - I will translate it from C to MQL4 and start running it in Metatrader - I can go fishing and let the computer earn the money for me. Isn't that insane? If something happens in the market and I want to take less risks, I just have to decrease the size of my lots, nothing else. It's just a parameter in the software.
Point 2 brings me to some interesting conclusions:
a) I detached "job" from "earning money". Those are two completely different things
b) last time I told I got EUR 7.36 profit during my post. Some people have to work for an entire week in order to earn that. It shows a little bit about the banality of earning money in the "speculation market" and also about the injustice in this world
c) money seems to be so "easily" earned in FX that I started losing the sense of how much it is really worth. Sometimes I see the price of something and immediately think in terms of trades: "well, EUR 9.00 for a book... that's what I earned yesterday by changing the TP of that order!" It's surreal!
When I lost EUR 3000, I couldn't believe that the money was lost... if there is such a "money ocean" like FX, it cannot take three drop from me without allowing me to recover 5 or 6 - or 20 bottles of it. That is my mentality. It's all about numbers... statistics... You can't lose money in FX. You are trading things which people WANT and NEED and are EXPENSIVE, so you will always be able to make money from it. I just needed a reasonable strategy and the correct parameters. That's it.
Unless I die early, it's a matter of fact that I will be a millionaire one day. That's why I am "retiring" in 4-5 months, at age 36. It's just a matter of math. With 10% per month, I can double my amount every year. But it doesn't mean that I will buy a Ferrari in 10 years. First I want to pay my flats, get out of all debts - THAT WOULD BE MY GREATEST REWARD! - buy some gold coins... and give away the rest. Without entering another company or sending resumees in my life anymore. I will spend the mornings playing basketball in my condo. It sounds like "Fight Club".
OK, enough by now.
Everything began last year, as I realized that my salary wouldn't be enough to keep paying my bills in the long term
I discovered the real estate market in 2007 and since then I started to build an empire based on bank loans . It's so silly. I have a pretty nice income, still I managed to get in trouble.I had to find a way to earn more money. The stock market looked too complicated. Somehow I got to see those FX ads and then a list of advantages compared to stocks. They sounded so good that I decided to go deeper. If billions are moving everyday, one millionth of that would be enough for me!
Making it "short": I lost EUR 1000 with "gambling" in 10 days. Then I created a crazy strategy and lost EUR 2000 in 5 days. Finally my IT mind decided to work :nerd:: I developed a small program which calculated some simple statistics based on historical data. I run it over the gold rates from the last 2 years. From that, I found out exactly how big my orders should be and where to place them. I even calculated how much I would earn in average: EUR 800/month. Not bad.
Well, that's what I'm doing now. And it's really working. First I worked only on H1, meaning that I had to check the market once an hour. The next month I started running my strategy on M5 and it basically doubled my wins. After 2.5 months I recovered all my losses. But this means for me: 80 hours per week in front of the computer. No, I'm not going to do this forever, but now it's necessary
.So what changed in my life?
1) lots of work. I trade beside my real job, which I will quit in some months. I bought a netbook and follow-up the trading inside the train. I rarely do anything else. Last week I went to the cinema and switched on the netbook in order to see if everything was fine
2) trading and winning became a mathematical certainty. My strategy is built on a software - I will translate it from C to MQL4 and start running it in Metatrader - I can go fishing and let the computer earn the money for me. Isn't that insane? If something happens in the market and I want to take less risks, I just have to decrease the size of my lots, nothing else. It's just a parameter in the software.
Point 2 brings me to some interesting conclusions:
a) I detached "job" from "earning money". Those are two completely different things
b) last time I told I got EUR 7.36 profit during my post. Some people have to work for an entire week in order to earn that. It shows a little bit about the banality of earning money in the "speculation market" and also about the injustice in this world
c) money seems to be so "easily" earned in FX that I started losing the sense of how much it is really worth. Sometimes I see the price of something and immediately think in terms of trades: "well, EUR 9.00 for a book... that's what I earned yesterday by changing the TP of that order!" It's surreal!
When I lost EUR 3000, I couldn't believe that the money was lost... if there is such a "money ocean" like FX, it cannot take three drop from me without allowing me to recover 5 or 6 - or 20 bottles of it. That is my mentality. It's all about numbers... statistics... You can't lose money in FX. You are trading things which people WANT and NEED and are EXPENSIVE, so you will always be able to make money from it. I just needed a reasonable strategy and the correct parameters. That's it.
Unless I die early, it's a matter of fact that I will be a millionaire one day. That's why I am "retiring" in 4-5 months, at age 36. It's just a matter of math. With 10% per month, I can double my amount every year. But it doesn't mean that I will buy a Ferrari in 10 years. First I want to pay my flats, get out of all debts - THAT WOULD BE MY GREATEST REWARD! - buy some gold coins... and give away the rest. Without entering another company or sending resumees in my life anymore. I will spend the mornings playing basketball in my condo. It sounds like "Fight Club".
OK, enough by now.
"The reason I was born and came into the world is to testify to the truth."
The subject is so interesting... that I don't even know how to start.
Everything began last year, as I realized that my salary wouldn't be enough to keep paying my bills in the long term
I had to find a way to earn more money. The stock market looked too complicated. Somehow I got to see those FX ads and then a list of advantages compared to...
The Mind creates reality.
The subject is so interesting... that I don't even know how to start.
Everything began last year, as I realized that my salary wouldn't be enough to keep paying my bills in the long term
I had to find a way to earn more money. The stock market looked too complicated. Somehow I got to see those FX ads and then a list of advantages compared...
- #112
- Feb 4, 2011 12:24am Feb 4, 2011 12:24am
Interesting thread you got here guys. so i thought i'd share something aswell. I first learned about forex july last year from a good friend who's been trading like 4 years. He told me all this awesome stories of what traders could do and I was really hyped. It was like love at first sight for me and this forex trading market we got here. So far I'm like 6 months in demo and live. So far i can describe the experience as an emotional roller coaster. The one thing that my friend stressed and i learned is that 95% of this game is your psychology and discipline it's not a get rich quick scheme it'll take sometime. So right now I'm taking time to get a better feel of this business. What forex has done for me is it changed my attitude towards most of what I do. Never get attached to the outcome you can only do so much and the outcome will still be uncertain. Be grateful with what you get and move on eventually you will succeed 
- #113
- Feb 4, 2011 12:59am Feb 4, 2011 12:59am
- | Joined Jul 2010 | Status: Trader | 1,319 Posts
Lord, Liar, Lunatic. Those are only 3 options to Christ's diety claim.
- #116
- Feb 4, 2011 1:36am Feb 4, 2011 1:36am
Yeah great story, now share the EA !
But if you can be satisfied by taking as few as 0.1% profit per day, I can tell you a story. A real one.One day I was talking to my mother. I asked her:
- Imagine you come back from a trip and there is no milk at home (She drinks almost one liter per day). You go to the market and you find milk at $2/liter. Would you buy it?
- No! It's too expensive!
- Would you have a day without milk?
- Well... I would buy only one liter, then...
- Next day it moves to $2.20. What do you do?
- What?!?!? $2.20? Well, again only one liter.
- Next day it moves to $1.30.
- That's close to the usual price. I would buy as usual: one package of 12 liters.
- Next day it goes to $1.60
- It's expensive anyway and I don't have to buy anything for the next days.
- Three days later there is a big sale, $0.90 a liter.
- Wow! It's very cheap! I would go there and buy 4-5 packages of 12 liters!
(If I were my mother, I would get a loan from the bank, buy 50 packages and sell to the neighbors when the price bounces back to $1.30)
"He who has ears, let him hear."
"The reason I was born and came into the world is to testify to the truth."
Never!
One day I was talking to my mother. I asked her:
- Imagine you come back from a trip and there is no milk at home (She drinks almost one liter per day). You go to the market and you find milk at $2/liter. Would you buy it?
- No! It's too expensive!
- Would you have a day without milk?
- Well... I would buy only one liter, then...
- Next day it moves to $2.20. What do you do?
[color=Red]-...
How do you know milk will get back to 1.30?
How do you know your neighbors will buy it form you and not from the usual store?
How do you know price will not go lower and lower? if a medic reports comes out stating that milk is related to intestine cancer, what will happens?
Not to be an ***hole, but you made some fundamental errors, so you can take as an advise, or ignore them and think that i'm stupid...
First error: in your previous post, you talked about a holy grail trading
Second error: you made a bank loan to buy milk, because it will certainly bounce back to 1.30$
again i'm not here to destroy your dreams, just gave my opinion...
- #119
- Feb 4, 2011 2:55am Feb 4, 2011 2:55am
I didn't know you would take it so literally, so let's explain:
I don't and actually I don't even care. That would be impossible. To be more precise, I bought at $0.90 and would sell at $0.91
If the prices move back to the usual price, why not? Besides that, do you see such behavior in FX?
Would anyone believe that? Would YOU believe it? Anyway, that would mean the end of the market. Besides that, by the time the report comes, I would already have sold. Remember, the "milk market" is very liquid 
You are not that at all. Sometimes I ask myself why people keep their own groceries and shops open... do they really make profits? It seems so. What do they do? They buy cheap and sell expensive. That's literally TRADING. Those who do the same in FX can also make profits, much easier than in the physical trading.
I don't like the term "holy grail". This would mean that any liquor store owner also found it, otherwise he/she would have closed it long ago.
That's what the technical traders do. Those traders may name $1.30 their pivot, their MA200 or whatever.
I am only sure that sales at the supermarket are really a very good buying opportunity and, sooner or later, the price will go up. If it doesn't, I would buy even more (cheaper). That's called "cost averaging". That's my mother's strategy. The only difference to FX is that I am able to sell my "milk" as well as I can buy it.
Remember: nothing goes up or down forever. Just open a chart and see.
Absolutely fine! That's the weaker point in the system and you pointed it. But as I said: I tested this strategy on the historical data of the last two years, I am trading live for almost 4 months and taking profits consistently, DAILY. If I want to have less risk, well, I buy only 10 packages at the dips, or even 5. I will make $0.60 profit, but that's fine. I already did it once because of some bigger dip in gold.
Can something go wrong? Yes, it can. But then I wouldn't be the only one to crash... If on a single day the entire world decides that gold is absolutely worthless, or USD, or JPY... do you believe in such thing?
How do you know milk will get back to 1.30?
and actually I don't even care. That would be impossible. To be more precise, I bought at $0.90 and would sell at $0.91How do you know your neighbors will buy it form you and not from the usual store?
How do you know price will not go lower and lower? if a medic reports comes out stating that milk is related to intestine cancer, what will happens?
Not to be an ***hole, but you made some fundamental errors, so you can take as an advise, or ignore them and think that i'm stupid...
First error: in your previous post, you talked about a holy grail trading
Second error: you made a bank loan to buy milk, because it will certainly bounce back to 1.30$
I am only sure that sales at the supermarket are really a very good buying opportunity and, sooner or later, the price will go up. If it doesn't, I would buy even more (cheaper). That's called "cost averaging". That's my mother's strategy. The only difference to FX is that I am able to sell my "milk" as well as I can buy it.
Remember: nothing goes up or down forever. Just open a chart and see.
again i'm not here to destroy your dreams, just gave my opinion...
Can something go wrong? Yes, it can. But then I wouldn't be the only one to crash... If on a single day the entire world decides that gold is absolutely worthless, or USD, or JPY... do you believe in such thing?
"The reason I was born and came into the world is to testify to the truth."