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Is there a drawdown indicator out there? 3 replies

Is there anywhere I can see everyone's open orders 4 replies

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Everyone gambles if there is risk

  • #61
  • Feb 27, 2014 4:38pm Feb 27, 2014 4:38pm
Quoting JoeNY
I couldn't help myself... So while I'm waiting for a set-up on the e-mini, here ya go... Probably my last post on this forum to help anyone trying to figure this crap out. 1.) Entry 2. ) If you read my post above, #47 and entered immediately when I posted it 8:25am EST, you would be in position 2. 3.) Take profit is position 3 where you draw a line... So at position 2, you would be 23 pips richer, minus spread... 20 pips.. Does the chart look familiar... Same shit different day.... Boringgggggggggggggg... Call it gambling, call it what you want......
haha!!!!!!! joey do you know how many people went down your path? eh? do you know how many thought like you ? yes, there is a 1% chance that you will make it but the fact of the matter that you don't know what others before you gives me a big advantage in placing a bet.
i bet on you losing. and losing hard. you will need viagra after you finish with the forex experience.
  • #62
  • Feb 27, 2014 4:42pm Feb 27, 2014 4:42pm
I don't know... I'm not really greedy... I don't need much... Maybe that's the key... Anyhow... so long everyone......

My farewell


Quoting deltatrade
{quote} haha!!!!!!! joey do you know how many people went down your path? eh? do you know how many thought like you ? yes, there is a 1% chance that you will make it but the fact of the matter that you don't know what others before you gives me a big advantage in placing a bet. i bet on you losing. and losing hard. you will need viagra after you finish with the forex experience.
SPC * Swollen PocketZ Crew!
  • #63
  • Feb 27, 2014 4:45pm Feb 27, 2014 4:45pm
Quoting Luther
{quote} Like Einstein said, "If you argue with idiots, they'll drag you down to their level and beat you with experience."
einstein would have died if americans would have not won the war with the help of another physicist because he did not want to defend himself. he had a vagina instinct for an alpha abstract mind.

i also like einstein quotes but this one is the recipe for disaster. ignoring empirical evidence is not ok if you want to live in reality. you can go to the imaginationland or the matrix but you have to make a distinction between those two. a good sound theory explains also the failed theories and the evidence that they gave. and the paradox is that imagination land produces theories!
  • #64
  • Feb 27, 2014 4:55pm Feb 27, 2014 4:55pm
Quoting deltatrade
{quote} hey 60. can you please elaborate more on this statement. it sounds like fun.
Above average effect: http://en.wikipedia.org/wiki/Dunning...3Kruger_effect

Interestingly, this effect seems to have a cultural rooting. Most Westerners think they are above average, whereas most Easterners think they are below average.
"To hold, you must first open your hand. Let go." - Lao Tzu
  • #65
  • Feb 27, 2014 5:08pm Feb 27, 2014 5:08pm
Quoting vox dei
{quote} Above average effect: http://en.wikipedia.org/wiki/Dunning...3Kruger_effect Interestingly, this effect seems to have a cultural rooting. Most Westerners think they are above average, whereas most Easterners think they are below average.
the act as if attitude provides for you in this life. if you don't speak loudly on your behalf nobody would.
  • #66
  • Feb 27, 2014 8:44pm Feb 27, 2014 8:44pm
Quoting yazzie
{quote} Agreed to a certain extent but there seems to be some general consensus that if you are posting in these forums then you are not profitable. That's clearly not the case at all. Seems like more want to agree with the negative trolls who say it can't be done than those who say it can and ARE doing it day in and day out.......
Quoting JoeNY
Misery loves company..... {quote}
Pretty much sums up FF in a nutshell. The profitable ones generally aren't obnoxious posters/whiney
I'm a dog chasing cars.
  • #67
  • Feb 27, 2014 11:18pm Feb 27, 2014 11:18pm
Reward is proportional to risk.
  • #68
  • Edited 6:43am Feb 28, 2014 6:06am | Edited 6:43am
It all makes perfect sense now... I knew there had to be a reason...

Squeeze - Appears to be a fundamentalist. I guess they don't mix well with technical guys. I know nothing about that aspect of trading. I'm sure many are successfull trading on fundamentals. Squeeze claims he is not. So that makes us all failures.

deltatrade - He sounds like a great guy. Bets on people losing hard and needing Viagra. He might want to quit trading and become a comedian. He must have lots of friends offline. Been here since 2010 feeling the way he does. A bunch of threads in regards to back-testing some wack-a-do system and market atmospheric noise. ......Whoa..."Now that doesn't sound too complicated"...... Starts another thread about a Free scalper indicator re-painting . Good luck with that one buddy. That alone explains everything...

MapleLeaf's charts. Bollinger bands here and a whole bunch of stuff on the chart here ... Maybe you should try something different if that's not working for you. I'm not knocking that crap, just your bitter attitude.

Mingary. Mostly lots of post about trading not being a buisness. It's gambling etc etc. Nothing wrong with that. Might be profitable but really pissed at Brokers and the Forex industry for making this sound easy. His charts have lots of bells and whistles. Not sure if it's working for him. He did comment on EUR/USD JP Morgan news release. His comment on the article's analysis was... "Look to doing the opposite. Pound going down. J.P. Morgan likes to steal from orphans and widows."
I guess that's a good strategy... What the hell do I know...

I'm just sayin'... Maybe you all want to give something else a try.... what have you got to lose?? A few shekels...

Today's my last day here so everyone have a great weekend and Happy Trading for as long as you want to hack it out.
SPC * Swollen PocketZ Crew!
  • #69
  • Feb 28, 2014 8:05am Feb 28, 2014 8:05am
Quoting JoeNY
deltatrade - He sounds like a great guy. Bets on people losing hard and needing Viagra.
i want this as a signature forever. )
joey. you don't know. when you will know you will stop with absolutisms. i take an informed bet. you know for sure. that is the difference.
  • #70
  • Feb 28, 2014 8:18am Feb 28, 2014 8:18am
What's up Pal... Can't chat right now... Busy makin' money...Live trade..

http://www.forexfactory.com/showthre...01#post7311501

What are you up to right now....????

Quoting deltatrade
{quote} i want this as a signature forever. ) joey. you don't know. when you will know you will stop with absolutisms. i take an informed bet. you know for sure. that is the difference.
SPC * Swollen PocketZ Crew!
  • #71
  • Feb 28, 2014 8:29am Feb 28, 2014 8:29am
Quoting JoeNY
What's up Pal... Can't chat right now... Busy makin' money...Live trade.. http://www.forexfactory.com/showthre...01#post7311501 What are you up to right now....???? {quote}
1 trade . when you reach 500 with more than 1 year post results. here.
  • #72
  • Feb 28, 2014 5:12pm Feb 28, 2014 5:12pm
There are three differences between speculation and gambling.

1) Gambling creates risk where no risk existed. If you and I bet on a horse or a football game or a roulette wheel, we both expose ourselves to risk that did not exist prior to our bet. Speculation transfers risk from one party to another. The largest forex positions tend to be held by hedgers who already have a risk inherent in their business activities prior to opening a position. This risk is transferred to speculators who assume but do not create the risk. Granted a speculator can take the counterparty risk of another speculator. This cannot be precluded. But without a real need for hedgers to hedge there would be no market.

2) Gambling tends to be random. Granted, there are "gamblers" who make a living at the racetrack or at blackjack because there is a small deviation from randomness. But most gambling is entirely random: slot machines, roulette... Speculation involves the study of market movements to identify non-random behaviour, and profit from that behaviour.

3) Gambling has no social function. Society as a whole does not benefit. Only the winner and the bookie. Speculation on the other hand is necessary for price discovery. It also provides liquidity to the market by ensuring that there is always a seller when someone needs to buy and always a buyer when someone needs to sell. The cost of slippage would be extremely high if there were only hedgers in the market.

My 2 cents worth.
  • #73
  • Feb 28, 2014 6:35pm Feb 28, 2014 6:35pm
Quoting pga123
There are three differences between speculation and gambling. 1) Gambling creates risk where no risk existed. If you and I bet on a horse or a football game or a roulette wheel, we both expose ourselves to risk that did not exist prior to our bet. Speculation transfers risk from one party to another. The largest forex positions tend to be held by hedgers who already have a risk inherent in their business activities prior to opening a position. This risk is transferred to speculators who assume but do not create the risk. Granted a speculator can...
Pretty Good pga123,

Every time you breathe, you gamble that what you take into your lungs won't kill you. Every step a toddler takes is an exciting gamble.
A fool puts his money naively down into a game that anyone around him could see is rigged.
The big difference between a lucky winner and a wise man who also ran is not the wisdom.

The first thing two men did who met one another and did not try to kill one another was trade. (This rock good for one thing. That rock for another. Wanna trade?)

Now a trader in the Forex is dabbling in the ultimate distraction.

He buys money with money with the hopes of selling it for more money.

Hunh?
  • #74
  • Mar 1, 2014 1:33am Mar 1, 2014 1:33am
Crossing the road is a gamble. It's just that there is a good winning probability that you will cross the road without getting hit by car.

Life is a game of probability.
  • #75
  • Mar 1, 2014 1:40am Mar 1, 2014 1:40am
Quoting pga123
There are three differences between speculation and gambling. 1) Gambling creates risk where no risk existed. If you and I bet on a horse or a football game or a roulette wheel, we both expose ourselves to risk that did not exist prior to our bet. Speculation transfers risk from one party to another. The largest forex positions tend to be held by hedgers who already have a risk inherent in their business activities prior to opening a position. This risk is transferred to speculators who assume but do not create the risk. Granted a speculator can...


With all due respect I strongly disagree.

Speculation, Gambling, Trading are all variations of the same activity.

Here is why the majority of traders must lose.

Speculating / trading is a lot like prostitution.
If you are NOT a losing trader, you are not doing your job. Bad on you.
To be of benefit to a society in a free market economy speculators MUST LOSE.
90 % of traders (the losers) are doing their job to help the economy -- they facilitate price discovery, bear the risk and take the loss that otherwise would have been assumed by the producer, and provide liquidity for the benefit of the producers: the REAL CONTRIBUTORS TO SOCIETY.
Speculators / traders are a necessary evil. They are the whores of the financial world. And in the same way as in prostitution, a market economy must tolerate traders -- as long as they fulfill their role, that is, to lose to the producers.
Without this grease on its many wheels the free market would grind to a halt.
At the personal level, the would be trader millionaire will find very little compassion when he wins or loses (for example, recent suicides at JPMorgan), will be shunned by society and it truly takes some "unique" character traits to succeed.
  • #76
  • Mar 1, 2014 3:11am Mar 1, 2014 3:11am
I crossed the road yesterday
  • #77
  • Mar 1, 2014 5:39am Mar 1, 2014 5:39am
Quoting Mingary
{quote} With all due respect I strongly disagree. Speculation, Gambling, Trading are all variations of the same activity. Here is why the majority of traders must lose. Speculating / trading is a lot like prostitution. If you are NOT a losing trader, you are not doing your job. Bad on you. To be of benefit to a society in a free market economy speculators MUST LOSE. 90 % of traders (the losers) are doing their job to help the economy -- they facilitate price discovery, bear the risk and take the loss that otherwise would have been assumed by the...

mingary are you a socialist?
if you are you should know that nobody is equal with each other. adam smith was the only one right in economic theory. the only one.
if you're interested in the free market view of speculators and what they are good for read this : Freedomnomics: Why the Free Market Works and Other Half-Baked Theories Don't.
  • #78
  • Mar 1, 2014 7:31am Mar 1, 2014 7:31am
Quoting MapleLeaf
They may call it something else, like the stock market, or FOREX. But make no mistake. If you're risking something, you're gambling. The odds of profiting in FOREX after 2 quarters of live trading are roughly the same as hitting runner-runner flush in a hand of Texas Hold 'Em. And no, don't tell me you hit a runner-runner flush in a hand of Texas Hold 'Em pretty often... All said...
I'm afraid your skill level is not quite there yet. I can see that u are frustrated..........don't be discouraged.

comparing my stats in FOREX with gambling, i find that there is a great element of risk-control that gambling ( too random ) can't afford you. I can roughly tell most of the time the direction the market is likely to take, while i have no idea what the next hand is gonna be at the casino.

I've done 30 , 40 , 50 winning streaks in forex while i've failed to do that @ a casino even with martingale progression. This is coming from someone who visited the casino 89 days out of the year back in 2003.

i can assure you that FOREX trading is very different from gambling.
  • #79
  • Mar 1, 2014 11:41am Mar 1, 2014 11:41am
As for me, I trade to win. My winnings are money I don't need. My hope is that by winning more money with my money I can feed more hungry people than by simply giving it away. I think I have found a way to do this. I may be a fool. I may be a fool either way. I happen to like Mingary's posts even when I don't agree with them. If you happen to know the coin is weighted to come up heads more often than tails, is it gambling to consistently bet heads?

Some people would call it by another name.

I do not have common cause with the respectable.

Look at the name I have chosen.
  • #80
  • Mar 1, 2014 5:13pm Mar 1, 2014 5:13pm
Quoting Mingary
{quote} With all due respect I strongly disagree. Speculation, Gambling, Trading are all variations of the same activity.
You are entitled to your opinion, but I deal with facts. Gambling involves amongst other things the creation of risk where no risk existed prior to the gambling activity. Corporations large and small, governments, NGOs, and wealthy individuals are exposed to the risk of currency fluctuations prior to the entry of speculators in the market place. You cannot deny these two facts and keep a straight face.
Quote
To be of benefit to a society in a free market economy speculators MUST LOSE.
This is inane. If traders have to lose to be beneficial, then ideally all traders should lose. Who would be the winners? The hedgers. But if hedgers always make money on their positions then all hedgers would have to be on the same side of the market. A US airline buying a fleet of A340's is on the opposite side of a EUR/USD trade with Airbus Industries. They can't both have losing postions therefore all speculators can't be losers. You may as well say insurance companies have to lose money otherwise they are of no benefit to society.
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