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If you haven't made it yet, what makes you think you will? 212 replies

Why did you start trading and what do you expect from it? 19 replies

What would you do if you had to start over? 81 replies

Could you share with me the worst trading strategy you know? 74 replies

If you start to be successful - Will your broker close you down? 9 replies

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if you could start over

  • #21
  • Mar 27, 2011 9:42am Mar 27, 2011 9:42am
YOGA!

If I started knowing that the answer to the holy grail of trading is looking inwards not outwards ... charts and method, I would not have wasted 3 years of my life
  • #22
  • Mar 27, 2011 9:54am Mar 27, 2011 9:54am
Personally I don't think you can say the time was wasted for venturing down various paths. Most people have to learn by mistakes. We all make mistakes whether we want to admit it or not is another subject all together.

I would be much further along had I would have started with the knowledge I have now, but everything I learned has taken me to this point. Why would you want to discredit it?

The point is you have to learn to grow. If something is just handed to you or you already had that knowledge the satisfaction of accomplishment has no meaning.
  • #23
  • Mar 27, 2011 10:21am Mar 27, 2011 10:21am
Becoming a consistent trader requires skill and practice, so if I could begin again, I would get where I am right now quicker, with less pain. I would not go looking for a trading system, I would look for an inexpensive trading coach. The coach would need to have a clear system as a given, but the focus would be on intensive coaching to help put the entire trading business into practice.

As the quality of coaches is really variable, to find a good coach I would research which sites seem to be the most professionally respected for directing knowledge to traders, and I would use those sites to locate coaches. I would watch at least 10 different coaches on their free training videos to do a comparison of their style of teaching. I would look for the quality and practicality of their information, not promises of systems and numbers of pips. I would look for whether they explain techniques for improving my trading practice, not just simply explaining a trading system - trading is about skill development (which includes psychology), not about pips.

I've been finally getting really nice results since putting into practice the techniques my coach has taught me, and I really envy the traders who found him as the first step in their trading career, I know one excellent trader who got to black belt with his coaching in just 10 months...black belt means he is an expert who can trade several styles and adjust his style of trading according to market conditions. It took me years and lots of investment, frustrations and failures to discover a good coach. But it only took me 3 months after I found him to get consistently profitable - I had been a consistent loser previously.

I wouldn't say that there was one technique of his that made the difference, it was an array of techniques that, once absorbed into my own daily practice, like brushing my teeth every morning, turned me into a successful trader.
  • #24
  • Mar 27, 2011 11:09am Mar 27, 2011 11:09am
Quoting Patience
ROFL ROFL ROFL - don't start that conversation again or Cindy is gonna kill me. It's not gambling if you are ninja'ing in line with higher timeframes, in my opinion. If higher timeframes are long, I only ninja long and vice versa.
lol well if you have something proven then fair enough. I will say, Just ninja'ing in line with higher timeframes... you don't believe that in itself doesn't mean it's not gambling do you? for what it's worth, I don't think you have to be in line with higher timeframes at all but whatever... different topic different thread.

I also believe that time wasn't really wasted doing it, so it's all good. I just wouldn't spend to much time on that strategy regarding how I was thinking, with what I know now.

bottom line, whatever makes you money keep rockin' it...
  • #25
  • Mar 27, 2011 11:11am Mar 27, 2011 11:11am
Quoting Lovinit
Becoming a consistent trader requires skill and practice, so if I could begin again, I would get where I am right now quicker, with less pain. I would not go looking for a trading system, I would look for an inexpensive trading coach. The coach would need to have a clear system as a given, but the focus would be on intensive coaching to help put the entire trading business into practice.
why did someone vouch for this shill?
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #26
  • Mar 27, 2011 11:13am Mar 27, 2011 11:13am
Quoting LasVahGoose
why did someone vouch for this shill?
lol
  • #27
  • Mar 27, 2011 11:36am Mar 27, 2011 11:36am
Quoting Monroe

... you don't believe that in itself doesn't mean it's not gambling do you?
LOL ... I think I have made my thoughts on this gambling lark quite clear all over the forum. It's gambling in it's purest form all the time (but don't tell the pro traders that because they tend to get a tad upset). I find, though, that if I ninja in the general direction of the longer timeframes, I have probability on my side .... LOL

P.S. I was just being diplomatic in my previous post
Nothing worth having is easy.
  • #28
  • Mar 27, 2011 11:53am Mar 27, 2011 11:53am
Quoting Patience
LOL ... I think I have made my thoughts on this gambling lark quite clear all over the forum. It's gambling in it's purest form all the time (but don't tell the pro traders that because they tend to get a tad upset). I find, though, that if I ninja in the general direction of the longer timeframes, I have probability on my side .... LOL

P.S. I was just being diplomatic in my previous post
LOL no I disagree highly, and with the whole probability thing too. But we can still be friends right?
  • #29
  • Mar 27, 2011 12:15pm Mar 27, 2011 12:15pm
Quoting Patience
LOL ... I think I have made my thoughts on this gambling lark quite clear all over the forum. It's gambling in it's purest form all the time (but don't tell the pro traders that because they tend to get a tad upset). I find, though, that if I ninja in the general direction of the longer timeframes, I have probability on my side .... LOL

P.S. I was just being diplomatic in my previous post
Ah the perennial question I've tried to answer for ages.

Now I don't care whether it's gambling or not, as long as I come out ahead.
  • #30
  • Mar 27, 2011 12:23pm Mar 27, 2011 12:23pm
Quoting stewrigh
Ah the perennial question I've tried to answer for ages.

Now I don't care whether it's gambling or not, as long as I come out ahead.
And that's exactly the attitude to have People just have a hang up about the word. They associate the word "gambling" with "losing".

And Monroe ... you think I'm gonna fall out with you over a silly word like "gambling". Don't bet on it because you'll lose - LOL
Nothing worth having is easy.
  • #31
  • Edited 12:40pm Mar 27, 2011 12:24pm | Edited 12:40pm
When you don't know what you are doing, trading FX or any other financial instrument should be considered gambling.

When you know what you are doing, it is all about how much risk you are willing to take to get the results you want. Whether, you are willing to only risk 30 pips or 100 pips, comes down to the individual trader and their individual trading plan. Assessing risk is a lot different than gambling and if you don't know how to quantify risk, you have no business trading.

A roulette table is a game of chance, where experience cannot necessarily change your odds (that's pure gambling).....trading is not purely an undertaking of chance in that more experienced traders equipped w/ specialized knowledge tend to be more successful over time. I think that's a decent comparison.
  • #32
  • Mar 27, 2011 12:29pm Mar 27, 2011 12:29pm
Quoting Patience
And Monroe ... you think I'm gonna fall out with you over a silly word like "gambling". Don't bet on it because you'll lose - LOL
lol good.

If I want to gamble I'll go to vegas baby... here I'll speculate.
  • #33
  • Mar 27, 2011 6:48pm Mar 27, 2011 6:48pm
Quoting damosdmf
if you could start over in forex would you?
hey damosdmf..... everyone starts over..... or quits......

if i had a buck for every time i started over in forex i could afford to start tradin with those big time traders..... ya know, those guys that trade mini lots.....h


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Quoting Patience
. And that nedging is generally a bad thing.
.
hey miss p..... ever notice how some bad things can be so good..... speakin of which, keep our international hedge fund strategy secret..... if they find out, it won't work any more..............

btw, followed your a/j advice..... the hamburgers are on me this week.....

if the gbp plays fair, by years end we should own a burger king franchise...... if not, i hear pizza hut is hiring......h
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to trade and code, keep both simple... no call to impress....h
  • #34
  • Mar 27, 2011 9:08pm Mar 27, 2011 9:08pm
Quoting Monroe
lol good.

If I want to gamble I'll go to vegas baby... here I'll speculate.
Ah, yes, sounds so much more intelligent Vegas, yeah, one of my favourite holiday destinations. The funny thing is, ever since I discovered forex, my urge to go to Vegas has diminished. Last visit was four years ago. I used to go every couple of years or so for a blast. Let me ponder


Quoting hayseed
hey miss p..... ever notice how some bad things can be so good..... speakin of which, keep our international hedge fund strategy secret..... if they find out, it won't work any more..............

btw, followed your a/j advice..... the hamburgers are on me this week.....

if the gbp plays fair, by years end we should own a burger king franchise...... if not, i hear pizza hut is hiring......h
ROFL. I just knew you would see the light someday although it took a lot longer to convince you than I thought it would. You were just envious that I could go and do my milkshake dance mid-week weren't you?

Great to see you back
Nothing worth having is easy.
  • #35
  • Last Post: Edited 9:45pm Mar 27, 2011 9:29pm | Edited 9:45pm
Quoting Patience
Ah, yes, sounds so much more intelligent Vegas, yeah, one of my favourite holiday destinations. The funny thing is, ever since I discovered forex, my urge to go to Vegas has diminished. Last visit was four years ago. I used to go every couple of years or so for a blast. Let me ponder
There is also a difference

We can only trade what we believe though. But if you have an edge that has proven expectancy, then you're no longer gambling in my book, you're exploiting. For instance, the old blackjack card counters wern't gambling. See the difference.

I would not gamble, because you will loose over time. If you get lucky, take the money and run. I think the odds might be better in vegas, lol. Plus there's beer and strip clubs.
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