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Only 1 good thing

  • #1
  • First Post: Jan 10, 2013 11:58pm Jan 10, 2013 11:58pm
I've come to the conclusion that this forum is only good for one thing http://www.forexfactory.com/calendar.php

there was one or 2 excellent traders here a few years back who pretty much got ran out of town, because the losers here didn't believe that huge profits were acceptable or they got hounded by idiots asking the most stupidest questions.(PeterCrowns is one example).
most of the gurus on here could not trade there way out of a wet paper bag. most of the systems and questions have been reposted over and over and over and over and over again. dont get me wrong there is a nugget or 2 in here but finding them through all the crap is a task in itself there would be maybe 4 threads that gave me some good info the rest i would throw in the recycle bin.



WENDIGO
  • #2
  • Jan 11, 2013 2:04am Jan 11, 2013 2:04am
That is probably not true:
"there was one or 2 excellent traders here a few years back"
This is probably true:
"who pretty much got ran out of town"


Web sites such as this one are designed to channel visitors to some form of a paying service or another.
I do find however that it has entertainment value.
  • #3
  • Edited 3:34am Jan 11, 2013 3:15am | Edited 3:34am
there has been some awesome traders on here most of them were driven away by losers asking stupid questions and telling them they were full of crap.

WENDIGO
  • #4
  • Jan 11, 2013 3:27am Jan 11, 2013 3:27am
Wendigo,

Right on brother. I would say there are three at the most four that provide some benefits. Now I want
name names, but it should be up to the trader to research & find these few that are out there. Best of
trades to you.
  • #5
  • Jan 11, 2013 2:40pm Jan 11, 2013 2:40pm
Well,If they were here why not name them so that people could reread their posts.
I personally benefited greatly from those guys and what's the most important things you've learned from them:

dredding82 - keeping it simple and trade the direction of higher time frame
Paulus - mechanical approach to trading from 5 minute charts
PeterCrowns - great combination of trading inside bar with logical money management
60minuteman - outside bars and engulfings using only 50 sma for trend detection.
  • #6
  • Jan 11, 2013 5:05pm Jan 11, 2013 5:05pm
i did name them then decided to remove there names for what ace trader said its up to the individual trader to find them.


WENDIGO
  • #7
  • Jan 11, 2013 5:48pm Jan 11, 2013 5:48pm
this is a good forum to start off

i mean most things that people talk about here are worth research when one is new indicators, systems, technical analysis

then you begin to realize that this is just the beginning and becomes entertainment or correcting the newbs here and there......i never expected to LEARN to be a trader here...but it serves it's purposes.

at least once you get that

no on knows the future and one needs to find ways to control risk....things become much better.
AVT INVENIAM VIAM AVT FACIAM
  • #8
  • Jan 11, 2013 6:20pm Jan 11, 2013 6:20pm
the thing is this just adds to the crap, its just a complaint

its like complaining about the garbage on the ground while, you throw your own trash down on it
  • #9
  • Jan 11, 2013 6:47pm Jan 11, 2013 6:47pm
Quoting Pipocrates
the thing is this just adds to the crap, its just a complaint

its like complaining about the garbage on the ground while, you throw your own trash down on it
it's better to sit in your own vomit than someone elses.
Congratulations ScalaFX for coming out of the closet!
  • #10
  • Jan 11, 2013 7:02pm Jan 11, 2013 7:02pm
Quoting nubcake
it's better to sit in your own vomit than someone elses.
vomit is vomit son, long or short, it makes no difference
  • #11
  • Jan 11, 2013 7:08pm Jan 11, 2013 7:08pm
Forex factory is kind of like a pawn shop. You have to figure out what's really valuable and what's really just bullshit with perfume sprayed on it. Most people here are the people who saw an ad to get rich quick and that's exactly what they expect. They want the holy grail indicator or some rigid system that is going to guarantee them profits for decades to come and earn them billions while they sleep and party. Most of us go through some variation of this phase, although some are lucky enough to have a shorter experience with it than others. It isn't much of a surprise then when we see commercial vendors and confidence men come in and take advantage of these vulnerable types, who see nothing but dollar signs and their fantasy yacht. What is the saying though, a fool and his money soon part ways?

When someone with some experience comes along, who actually is making money with trading or has a financial background with a broker and can provide some valuable insight, most people aren't interested. It's too complicated, requires too much brain power, too much time to bother with. They want the grail, and if you don't have the magic combination of indicators they're not interested. Greed is the sole motivation - there is no drive to learn, and certainly no patience. I would say it's akin to casting pearls among swine, but once we as traders have come along far enough to get past some of the early stages of growth, these posts play a large part in our own development, and we start to appreciate that kind of freely available knowledge.

Successful traders do become wealthy. I'm not at that point yet - and I'm sure it will be many years still until I get to it. But I know I'm on the right path because I'm starting to see success come from my efforts. It's the result of years of hard work, learning from others as well as your own mistakes and making sure you don't do the same thing again. I'm not talking about endlessly 'tweaking' a 'system', but issues such as deviating from a plan,failing to control emotions, and mismanaging your money.

So yeah, there's a lot of trash around. Given traders and brokers are making money off of someone, it's not a surprise that that the situation is how it is. But lurking the forums these past couple of years have been beneficial, although there have been some painful lessons and times when I felt like giving up along the way. I'm glad I didn't.
  • #12
  • Jan 11, 2013 7:55pm Jan 11, 2013 7:55pm
  •  Leebos
  • | Joined Aug 2012 | Status: I do not believe in a fate that fal | 75 Posts
Quoting Mingary
That is probably not true:
"there was one or 2 excellent traders here a few years back"
This is probably true:
"who pretty much got ran out of town"


Web sites such as this one are designed to channel visitors to some form of a paying service or another.
I do find however that it has entertainment value.

Exactly Mingary! Forex trading can be a solitary affair, requiring extreme patience and self discipline. Isn't it wonderful to lighten the load with a bit of industry related amusement?
Listening to self appointed gurus predicting the next market move, has to be amusing to any time served trader (post Epiphany moment)
I suspect those respectful contibuting individuals that got "ran out of town" probably were'nt saying what the majority were wanting to hear.
Until they see the light, the frustrated mob may likely remain hostile.
Let us not also become hostile, and show humility to those looking for guidance, and a bit of comaraderie.
  • #13
  • Jan 11, 2013 8:19pm Jan 11, 2013 8:19pm
Quoting Leebos
Exactly Mingary! Forex trading can be a solitary affair, requiring extreme patience and self discipline. Isn't it wonderful to lighten the load with a bit of industry related amusement?
Listening to self appointed gurus predicting the next market move, has to be amusing to any time served trader (post Epiphany moment)
I suspect those respectful contibuting individuals that got "ran out of town" probably were'nt saying what the majority were wanting to hear.
Until they see the light, the frustrated mob may likely remain hostile.
Let us not...
Mingary is of the belief that trading is complete gambling and that only luck will allow someone to be "successful". As far as I'm aware, he doesn't trade at all. I disagree with him but I thought you ought to know.
  • #14
  • Jan 11, 2013 9:01pm Jan 11, 2013 9:01pm
  •  Leebos
  • | Joined Aug 2012 | Status: I do not believe in a fate that fal | 75 Posts
Quoting Kanzler
Mingary is of the belief that trading is complete gambling and that only luck will allow someone to be "successful". As far as I'm aware, he doesn't trade at all. I disagree with him but I thought you ought to know.
Surely all risk taking activity is a gamble, and in gambling we benefit from an element of luck.
Professionals increase the chances of being "lucky" with an edge. If that edge can be executed with consistency, it becomes a skill.
I suggest that there are many more facets to aquiring the "skill" than there are to aquiring an "edge" or a run of "luck".
Strangely, the majority of the forums and contributors seem bogged down in the quest for the ultimate "edge" as apposed to aquiring the "skills".

I suspect that if Mingray is taking an interest in these forums, he's not totally convinced success is all down to luck.
  • #15
  • Jan 11, 2013 10:10pm Jan 11, 2013 10:10pm
Quoting Pipocrates
the thing is this just adds to the crap, its just a complaint

its like complaining about the garbage on the ground while, you throw your own trash down on it
this wasn't meant to be a complaint mainly an observation that when good traders come here they are treated like they are selling snake oil.

WENDIGO
  • #16
  • Jan 11, 2013 11:32pm Jan 11, 2013 11:32pm
Quoting wendigo
I've come to the conclusion that this forum is only good for one thing http://www.forexfactory.com/calendar.php

there was one or 2 excellent traders here a few years back who pretty much got ran out of town, because the losers here didn't believe that huge profits were acceptable or they got hounded by idiots asking the most stupidest questions.(PeterCrowns is one example).
most of the gurus on here could not trade there way out of a wet paper bag. most of the systems and questions have been reposted over and over and over and over...
So much negativity makes for a bad trader........positive good traders are not attracted to such negative comments.......so much anger also inside of you...
The More You Learn, The More You Earn.....
  • #17
  • Jan 11, 2013 11:37pm Jan 11, 2013 11:37pm
Quoting Kanzler
Forex factory is kind of like a pawn shop. You have to figure out what's really valuable and what's really just bullshit with perfume sprayed on it. Most people here are the people who saw an ad to get rich quick and that's exactly what they expect. They want the holy grail indicator or some rigid system that is going to guarantee them profits for decades to come and earn them billions while they sleep and party. Most of us go through some variation of this phase, although some are lucky enough to have a shorter experience with it than others. It...
Well done and the time you spent on this ... I could have not said that any better...bravo....everyone in the FF should read your post here...
The More You Learn, The More You Earn.....
  • #18
  • Jan 12, 2013 3:02am Jan 12, 2013 3:02am
just calling it as i see it forexalien

WENDIGO
  • #19
  • Jan 12, 2013 3:32am Jan 12, 2013 3:32am
Quoting Leebos
Surely all risk taking activity is a gamble, and in gambling we benefit from an element of luck.
Professionals increase the chances of being "lucky" with an edge. If that edge can be executed with consistency, it becomes a skill.
I suggest that there are many more facets to aquiring the "skill" than there are to aquiring an "edge" or a run of "luck".
Strangely, the majority of the forums and contributors seem bogged down in the quest for the ultimate "edge" as apposed to aquiring the "skills".

I suspect that if Mingray is taking an...
.. and your suspicion is correct
  • #20
  • Jan 12, 2013 4:27am Jan 12, 2013 4:27am
I have studied ALL of the systems in FF and tested the ones that seemed to make sense.

I have to say 98% were trash but I found some nuggets in the 2%.

All of the systems that worked were incredibly simple its absurd.

I rarely peak at the systems thread coz all the popular systems are totally whack.

trading discussion thread is where there is some useful material.
wo-yoy! wo-yoy! wo-yoy! wo-yoi! wo-yoy-yoy-yoy!
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