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Myths and Legends

  • #101
  • Edited 4:25am Jan 20, 2013 3:58am | Edited 4:25am
Quoting stevexyg
I am thinking positively right now. I am thinking ' I can fly'. Can I fly? No. The problem requires a more subtle approach than 'I am a great trader, I will be a millionaire soon'.
Hey Steve, no one is suggesting that we step outside the realm of realistic possibilities, Although if you want to fly there are avenues you can take
( below ) please excuse my reasoning as I haven't read the whole thread....but..I dont think anyone is suggesting to be a successful trader you have to be a millionaire either ?. Only that if you want to be a millionaire there might be certain attributes that you might need.

I'm talking about one of the most important mechanisms to making money on an annual basis trading imho...

Sidhujag speaks a lot of sense ..

For all accounts of successes The belief system is needed and is very powerful..

I wish you good trading this week..

Inserted Video
Memories caught in time but never forgotten
  • #102
  • Jan 20, 2013 12:52pm Jan 20, 2013 12:52pm
Inserted Video


this is the 2nd part of the eric thomas video

people are saying wanting it bad enough isnt enough.... wanting it is everything. people that truly want something are wiling do to anything and everything to succeed. they are willing to be disclipined in trading, they are willing to learn a strategy that they stick to, they are willing to sit at a computer for countless hours waiting for a set up, they are willing to learn new skills and change their character in order to succeed.

Many people say they want it but dont try 100%, in forex its extremely common. My opinion is they didnt want it enough then tell people about their bad experience and how it cant be done.

A chinese proverb is: The person who says it cannot be done should not interrupt the person doing it

When I started forex I had no clue as to what it was but when I learnt a bit about it I wanted to be successful so bad and that made me read every book that was recommended to me, get up at ridiculous times to trade and do anything that was required to be consistant in my trading. At the same time as studying and having a job. All I had was the will to succeed and so far I have been successful but I still have the want and the desire to continue to succeed and I believe I will.
  • #103
  • Jan 20, 2013 5:34pm Jan 20, 2013 5:34pm
Quoting j4d

For all accounts of successes The belief system is needed and is very powerful..

I wish you good trading this week..

http://www.youtube.com/watch?v=jLWnS3gFJoM
Nice flying.

Yes belief is crucial to progress but it's always belief that gets in the way, belief is not the solution. The point I'm making is that just replacing a negative belief system that you are never going to succeed with positive belief that you will succeed isn't going to work. Positive thinking will not help you here. Why? Because belief on this level is a collation of deeply help desires and wants - and the foundation of all of that is fear.

Positive thinking will help you organize your life and help you dedicate yourself to hard work certainly it can do that but when it comes to actual trading you have to be careful. We all agree that negative beliefs hold us back (not just in trading) but positive belief will also hold you back because if you are really convinved that you are going to succeed and tell yourself that day in day out just think about how much pressure and anxiety you are building up inside of yourself with regards to 'what if I'm wrong?'. This inner fear will act on you during every significant trading decision that you make.

Have a great trading week too.
  • #104
  • Jan 21, 2013 1:45am Jan 21, 2013 1:45am
Hi all traders and X man

i have hear about forex nearly mid of 2011 year.
i tried and traded. but i comletly lost. so i stop trading. and again trading started this month.
still i have a beleve i can take profits.
this time i found a method it is 100% profitable. but its gain is small. 1000$ > 3$ per trade with big margin.
for that one i needed a software for automatic trade. it means that system need to put pending orders when trade is triger. after pending order is trigered then need to put another pending order. so its goes like chain untill our profit comes.
so i search in net and i found this forum. now im reading and learning.
Also im using X man S3 method. im still junior menber in this forum. im waiting for membership and willing to start a thread about that earlier my method. and im expecting all of ur help to write a software for that method.
Im using hotforex mt4 platform.

Thank u.

My english is not good. hope u can understand this post.
Money is not the everything.... But, without money is NOTHING...
  • #105
  • Jan 21, 2013 2:59am Jan 21, 2013 2:59am
To become successful at trading may be possible through desire, hard work etc. but to become exceptionally rich and famous you need TALENT. Jesse Livermore didn't work particularly hard at trading but he had a special skill. I am sure Warren Buffett and Geoge Soros similarly.

No amount of dedication can give you talent, it WILL make you better and even good but you will not become Usain Bolt through training alone. One can see on the FF forum, somebody posts a new trading method and within days some people are making pips with it while most never get the hang of it.

No, the Hollywood bullshit of you can achieve anything you want just by believing you can, misleads people. Just complementing people to keep them positive and motivated is nonsense, you must be told if you are useless. Watch Idols to see how many people have wasted their lives on believing they can become famous singers because nobody told them they have no talent.

Same with trading, some will eventually become traders but not necessarily good ones, very few will be special.

But in forex there are very few limitations on how much can be achieved if you have the talent and dedication, you decide your own limits.
Vandag is die dag.....
  • #106
  • Jan 21, 2013 5:21am Jan 21, 2013 5:21am
I have a problem.
I have to solve it.

2 ways to handle this problem.

It is difficult, I will not solve this.
or
It is just a game, I want to win, I am gonna make it.


Something like that, people act after what they believe.
"If I drink coffee late in the evening, I can`t sleep." And so will happen.
  • #107
  • Jan 21, 2013 5:40am Jan 21, 2013 5:40am
There is a good movie about problem solving.


http://en.wikipedia.org/wiki/Lorenzo%27s_Oil
  • #108
  • Jan 22, 2013 4:29pm Jan 22, 2013 4:29pm
Quoting Leokira
To become successful at trading may be possible through desire, hard work etc. but to become exceptionally rich and famous you need TALENT. Jesse Livermore didn't work particularly hard at trading but he had a special skill. I am sure Warren Buffett and Geoge Soros similarly.

No amount of dedication can give you talent, it WILL make you better and even good but you will not become Usain Bolt through training alone. One can see on the FF forum, somebody posts a new trading method and within days some people are making pips with it while most...

I have to disagree on the "TALENT" part.

The story of the "TURTLES" proves that trading FOREX is a skill that can be lent, because Forex can actually be reduced to a numbers game, simply find a winning strategy (and FF has thousands), play the game with a risk to reward ratio of 1:2 or 1:1.5 and over 20, 50, 100 trades you will come out tops.

The job #1 then is taking every trade your system tells you, (that does not need any talent) that is where the real work is, -identify your set-up/signal over and over again; don't second guess any signal because of a previous loss.

This is the crux of Forex trading, maybe you wanna tell us how rote obedience is a "TALENT"?
Let it turn and find your entry.
  • #109
  • Jan 22, 2013 4:40pm Jan 22, 2013 4:40pm
Quoting X-Man
exactly
we should look for something that happens everyday or every second day or even 3 out of 5 times a week.
then what?

we ONLY trade that.

.

Think guys think. forex gets really easy when you look for your moves that you see happening all the time and not any move
then after that you set entry and exit rules towards those moves we see.
if you want o make it big. this is how you do it.

This is what Forex trading is all about, recognise a set-up you are sure of and execute every time it shows up again and again.
Let it turn and find your entry.
  • #110
  • Jan 22, 2013 6:43pm Jan 22, 2013 6:43pm
I enjoy reading here. Thanks for all posts.

I WANT to be a sucessful trader. There are so many strategies out there. Can anyone tell me what is the best setup I should look for?

Thanks very much.
  • #111
  • Jan 24, 2013 1:08am Jan 24, 2013 1:08am
Inserted Video


Here you go guys.
Keep standing up fight for what you want .
Take it .

Yes only a positive mindset wont get you there but the positive mindset will allow you to sweat blood and tears and allow you the will power to get you there.
Just like that video on how bad you want it part 1 and part 2.
In part 2 that guy say part 1 wasnt enough .

Sometimes we need to hit rock bottom before rising.
We need something to push us to give us that driving force to try and try and never quit.

To be a good trader its not about having talent its about learning that skill well enough. trading is all about habits.
the guys that do good in FX from the start means they just studied harder and faster putting more hours in it.
Everyone has their own learning pace.
What is trading all about?
Do i look at ten thousand things to get an informed desicion before taking a trade ? HELL NO
to trade stocks then to know the fundamentals about the companies are important.
But with FX do you think i worry about fundamentals? the only thing i know to do is stop red during red news hours thats all.
Heck i dont even know what news event means in FX and guess what i still make money .
What does that mean it means i developed a habit .
A habit that became excellence
Thats all we need.
Trading FX is about finding that single move thats going to make you money . that single move that happens daily or every second day .
if we take that move more than enough times it becomes a habit from there we get our excellence from there.
im sure all you guys here see the similar moves happen day in day out.
We see it right. what are we doing to take it .
Do you think the market worries if you take $10 000 a day from it
do you think the market is going to worry of you take $50 000 a day from it?
Theres $4 trillion a day and maybe even more now.

Guys that skill of trading can be developed. Its possible to become consistent day in day out .
Its possible to make nice gains a day.
Thats discipline is needed.


Zander i am enjoying those motional videos.
X-man the legendary conqueror of markets
  • #112
  • Jan 24, 2013 1:52am Jan 24, 2013 1:52am
Quoting X-Man
Here are some legends
These guys inspire me to new heights always.

Possible? Oh yes it surely is
wanna be in the list ))
  • #113
  • Jan 24, 2013 2:49am Jan 24, 2013 2:49am
Quoting j4d
For all accounts of successes The belief system is needed and is very powerful..

I wish you good trading this week..

http://www.youtube.com/watch?v=jLWnS3gFJoM
I think these people are among the most insane.
  • #114
  • Jan 24, 2013 6:29am Jan 24, 2013 6:29am
Here is a new angle on becoming successful in trading

Inserted Video
  • #115
  • Edited 2:28pm Feb 3, 2013 2:05pm | Edited 2:28pm
Hi xman

great thread. Thanks for starting this.

I do not much to share now but I will read silently and follow.

I am glad to find you here as you are so slippery.

You and your simple method was the first inspiration for me on FF as I said in LE1 thread.

The words and video are very inspiring which make me feel I can achieve my goals in forex one day.
  • #116
  • Feb 4, 2013 4:32am Feb 4, 2013 4:32am
My 2c worth — I've posted this maybe a dozen times before, but here it is again:

Gil Blake, interviewed in Jack Schwager’s New Market Wizards (Harper Business, 1992), attributed his success to the following formula (see p 248):

1. Focus on trading vehicles, strategies, and time horizons that suit your personality.

2. Identify non-random price behavior, while recognizing that markets are random most of the time.

3. Absolutely convince yourself that what you’ve found is statistically valid.

4. Use this to set up trading (entry and exit) rules.

5. Follow these rules.

It's both as simple, and as difficult, as that.
  • #117
  • Feb 4, 2013 11:59am Feb 4, 2013 11:59am
Wow

+V Subscribed
Dangdut is a music of my country
  • #118
  • Feb 4, 2013 1:50pm Feb 4, 2013 1:50pm
Quoting hanover
My 2c worth — I've posted this maybe a dozen times before, but here it is again:

Gil Blake, interviewed in Jack Schwager’s New Market Wizards (Harper Business, 1992), attributed his success to the following formula (see p 248):

1. Focus on trading vehicles, strategies, and time horizons that suit your personality.

2. Identify non-random price behavior, while recognizing that markets are random most of the time.

3. Absolutely convince...
I really like this post.
  • #119
  • Feb 6, 2013 3:40pm Feb 6, 2013 3:40pm
Never give up.
Attached Image
  • #120
  • Feb 6, 2013 3:45pm Feb 6, 2013 3:45pm
Quoting TiouK
Never give up.
Only 6 have succeeded out of the countless millions that try and try and fail..

so...

Give up before you fail and live!
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