What I've learned so far

Thanks for Sharing this video. Just watched it for the first time

Good people!
Lets concentrate on discussions which will bring improvement to our trading

I like to watch the video above once in a while because it makes me remember how hard things were in the beginning.

There is no such a thing as a "Forex University" where you go and learn how to trade.

99.9% of people and institutions claiming to give you education are there to rip you off.

So if you will make it in this business you have to do it by yourself.

I'm amazed by people claiming to become consistently profitable in 1 or 2 years.

In my first 4 years I was like the guy from the video above, having a nervous breakdown almost every day.

Maybe I am so stupid compared with everybody else thats why it took me so long to learn

By my 6th year trading. Juts than things started to change.

Anyways what I learned getting screwed by the market for so long is that you have to do your homework.

Any kind of mental laziness will add years to your learning curve.

I compare forex to medical school. It is as tough in terms of curriculum. But its tougher because you have no teachers.

No books, no classes, no lab, nothing!

It is like " Get ready because tomorrow you will have to perform a brain surgery"

Than you go find books, spend hours over the internet researching, listen to everybody "supposedly" more experienced than you.

But when you face the surgery the patient don't make it.

And a big chunk of your account goes. And another chunk, and another one, until you have barely nothing left.

And the worst part is that everybody around you seems to be doing great , everybody is profiting but you!

Those brain surgeries above. Everybody can do it but you !

People report how good those surgery went, and how great their patients are.

You starts to feel like you should not even exist.

Fast forwarding to today, I can see how my perception of reality was completely distorted.

I took posts on internet forums as a fact. I took videos as reality. Webinars as truth.

I believed in all that crap and it emulated a reality inside my brain completely different from what reality was

Good post, plenty of reality there! Unfortunately a lot of traders go through this process and it's a very painful process.

Forex was good to me in a few areas.

The most curious one was the effect of studying, researching and trading in general on my brain development.

Before I saw myself as a little below average.

In a scale from zero to ten

Where zero is the most stupid people you ever knew or heard about

And 10 are those genius you only see in books and tv

I would situate myself at 4.5. So slightly below but not below enough so people would notice.

Now 11 years later I would situate myself around 6. Far from a genius but pretty good from 4.5

Knowing myself the improvement is undeniable. Even people around me like old friends and relatives.

I notice them falling behind.

The wonders of mental bodybuilding

The process of (mental bodybuilding) is possibly one of the hardest tasks for a person to undertake! First of all they need to recognize that they need to start the process!

Truth.

I remember how hard was to even start studying stochastics, Murray math etc.

It was as hard or even harder than a real physical workout with dumbbells.

The pain was real

I don't want to pass the image that I consider myself smart

That will not be the truth, I'm not the guy that talks to you and you go "WOW this guy is smart"

But today I understand things and I'm not afraid of studying.

It does not hurt anymore, it is actually pleasurable.

It seems to have been a very long road from when I first started this journey. When you look back most of this journey has been filled with great personal and financial expense, not to mention the emotional pain that we go through. I felt that I was just banging my head on the wall attempting to learn from scratch after going through the circus of the educators. Now I feel I'm just beginning to emerge from the darkness and pain.

Since we are talking about brains

I guess it is another part of the same video

I'm trying to watch the videos but the market don't let me

Finally watched both videos! Very informative! Thanks for posting it margin!!

You are welcome FO.

I did some research about the guy from the first documentary Haim Bodek.

Through him I found these guys from the video below.

I'm always willing to learn something new so I started watching their videos.

The beauty of research is that you learn when you find something you need.

But you also learn when the opposite happens and you find something you don't need

I watched 2 or 3 videos and I started to get really bored.

But I kept going and ended up watching pretty much all their videos.

I did not learn ANYTHING to improve my trading skills, but it gave a clear vision about wall street culture.

On the lines of " The Wolf of Wall Street" these guys are douche-bags gamblers, calling themselves traders.

These 3 clowns fit perfectly the profile of the Las Vegas heard.

They talk about making 30 and 40 K per day ( and I have no doubt they make it occasionally) but they are all consistently broke.

So broke that they have to sleep in their "hedge fund"

And as the guy confess in the video below, in order to raise some money. They do what?

They TEACH how to trade!

Would you give these guys almost 2K per month for their services?

What I learned so far!? ......financial markets are all about information. Most of retail investors (95%) does not even bother how market returns in zero sum game been distributed which legitimately position them into a herding group as EASY MONEY for market piranhas. Fundamentally, every market price action is conditional to zero sum game principle and gaming theorem. Therefore I firmly believe two things:

1. For every losing $ somebody win $.
2. Retail customers will never been grouped into wining $ group frequently.

If informational asymmetry wouldn't exists the ratio of win/loss retail customers would been 50:50 which not the case. The good marketing makes you believe impossible where even half dead retail trader day dreaming about better live in Bermuda 2morro. The most irony I see on forums where milking cows support each other in good faith when they should thinking how to take money each other. Sad!!!!

Rgs FxJ

I've learned that trading cross pairs.. is dangerous. There is so much LESS liquidity in the cross pairs than the major G10 currency pairs.

You want to make money ? Stick to riding on the trends in the major pairs.

Want to get hammered from bigger traders than you and big firms ? trade cross pairs.

I learned it's not my broker that was betting against me.. it's those very few pricks trading the cross pairs that see me with a small account that accounts for almost %30 of the liquidity in that cross, and betting against me as much as they can. No matter how big or small your order is.


Go with the flow, jump on the back of the cattle drive and ride the herd..

If you would like to learn more about the Italian ( european) crisis this video is a most.

The key words are CONFLICT OF INTEREST.

Banks, MM, hedge funds etc live by this principle.

I recently learned that Walmart pay life insurance on their employees.

But who is the beneficiary? Their children or espouses?

Nope, it is Walmart

Thanks for info!

But how is this obvious from the image? I mean ok you hit hit SL but if it was your poor trading performance? Do you have better results now with different pair?

One thing I learned was when a guy from alpari called me. I said I'm going to use EA which I use only for SL and TP and he was quiet for a few seconds (o ou). He quickly offered me their VPS servers

Looks like they don't like EAs as they can't see entry order SL and TP..

Are you sure Vitez?

Unless you have better information, Metatrader is a terminal.

The MM is the server, your EA is easily available for them. They can see how it works.

On top of that they can see your EA working in real time.

There is no secrets between you and your broker

Yeah! Those bastards not only know what you do, but they can steal your EA sell it on MYFXBOOK for a bunch of people until it does not work. I try to keep my intellectual property secure keeping my researches in a different computer and ISP. This way i may stand a chance against those RATS !!