By the way, the salary of the average fund manager is about $150,000 a year. So it would take him what, about 750 years to make a billion, assuming he does not spend a dime in the meantime, not even on taxes?
Pfft, piece of cake.
Could someone please explain? 2 replies
Can Someone Help Explain This FX Statement Please 0 replies
can someone explain to me. how is trailing stop really works!!-please see the example 4 replies
Can someone please explain 2 replies
DislikedRight, just open your trading platform and make a snap decision based on some indicators, or better yet, your gut. If your gut is queasy just flip a coin. By all means, don't spend any time considering, reflecting, analysing, or anything like that.... and, oh yeah, this is the main thing: go all in on every trade! Booyah!Ignored
DislikedPerhaps you could loan me your crystal ball...mine doesn't work, which is why I am asking these questions...
DUH...every entry or exit is basically anticipation of what I think will likely happen in the market. If I know when the market was going to turn I'd wait for the very pip and put in a 10 pip stop loss and realize a 1000:1 risk-reward-ratio.Ignored
DislikedThis is what most people think in their first few years of trading. It's easy to understand drawing lines on a chart... but understanding the complexities of money flows and how they react to economic changes takes years of experience.Ignored
DislikedI would go even further Eagle4X, fundamental analysis is totally worthless, everything we need to know is already reflected in the price, end of story.
Fundamental "analysis" can, at best, explain the past.Ignored
DislikedIf everything you need to know is already reflected in the price, then how do you explain news releases affecting the market?
Back on August 3, USD/JPY was trading at 77.10 at 9pm EST. One minute later it was trading at 77.50. Looks like price was missing and was not reflecting something.
Just wondering how you explain it and rationalize it.Ignored
Dislikedfundamental analysis is totally worthless, everything we need to know is already reflected in the price, end of story.Ignored
QuoteDislikedFundamental "analysis" can, at best, explain the past.
QuoteDislikedfind a statistical trading edge (through numerous backtesting) and exploit that edge with discipline and strict money management, day after day, week after week, year after year.
DislikedAs a trader, I am not in the business of explaining/rationalizing why the price moved that way or that way and not that way. I really, really do not care at all about the WHY (which is the fundamental approach), it is a complete and total waste of time and energy.
To be successful, the trader only needs to do one thing and one thing only : find a statistical trading edge (through numerous backtesting) and exploit that edge with discipline and strict money management, day after day, week after week, year after year.
That's it,...Ignored
DislikedIf everything is reflected in the price, then I assume that some statistical edge can be found analyzing the USD/JPY prices of the past using some sort of technical indicators/chart patterns/price patterns/robot/programming, etc in order to "predict" the Bank of Japan intervention.Ignored
Quoting grkfx;4854845IDislikeddo not know of any technical indicator, chart pattern, or price pattern that can predict that with any statistical edge.Ignored
DislikedThe minute the trader tries to "predict" anything he is finished. A trading system does not predict, it simply exploits a statistical bias, just like a BlackJack card counter does not try to predict the value of the next card, he is just playing the odds because he knows that in the long run he is going to mathematically beat the casino.
I don't either, but again we are not trying to predict this or that event, that's not the purpose of a trading system. The trader backtested his system with 10 or 15 years of data and discovered that it...Ignored
DislikedI generally agree with the statistical edge thing. But you should also be aware that there are highly successful individuals that do try to predict fundamental events: george soros, victor sperandeo, paul tudor jones,...
So, I think both approaches towards the market are valid.Ignored
DislikedI know, but like I said in a previous thread, Soros also used his "judgment" and lost Billions betting against the Euro and other currencies.
And during all that time, a simple moving average could have prevented those catastrophic losses.Ignored
Dislikedyeah, that may be, nonetheless he is still highly successful. Just saying.Ignored
DislikedI don't get it...if the fundamental analysis of the US economy is "negative" by the "experts" in not one but several rating agencies...and if the fundamental reports are increasingly poor to negative...WHY on earth is the USD rallying?Ignored
DislikedThat said, the minute BOJ intervenes my system will sense that and I can place a high probability trade with little risk. I made over 100 pips yesterday shorting USD/JPY (see USD/JPY thread) while almost everybody was buying and "expecting" an intervention. Sorry but trading on rumors and expectations is a losing proposition, I only trade what is actually happening right now on the chart.Ignored
DislikedWhat if what is actually happening right now is a mispricing and the move is about to be faded/reversed?Ignored
Disliked
Fundaments and TA go hand in hand dont let anyone tell you different.Ignored