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  • #241
  • Mar 8, 2014 12:38am Mar 8, 2014 12:38am
Quoting hanover
{quote} I agree that determination in itself is not enough. You need a methodological edge. The material presented by the Wizard of Odds discusses both (1) gameplay that's specific to casino games; and (2) money management (staking systems) which is universally applicable, i.e. including forex. (1) Gameplay Roulette is an example of a casino game that can't be beaten (unless the wheel is physically biased), because the playing conditions remain constant. No matter what gameplay the punter uses,...
i like you speech
but first if you count a trading in forex as gambling so every thing in the world it is gambling (shops,rent houses, stock markets, building malls and rent it etc) but with different rate of gain back you capital - every thing in the world have risk,gain,loss but with different numbers
easy example:-
two guys me and you
we want to open a (shop) and we need 150K
- i take loan 150K from bank and rent a shop and within a week buy some goods in bulk and start selling
- you start saving money for a year and askedu two of your expert friends to join you
every member withdraw 50K from his saving account and start the shop.

normally my shop will close soon because i didnt do any planing or risk management and i have to pay for the loan that i toke from the bank
in the other hand you dont have any loans you have some expert guys that if any problem happened they will help you
  • #242
  • Mar 8, 2014 12:41am Mar 8, 2014 12:41am
Quoting MapleLeaf
You cannot predict the Future and you cannot predict what will happen to a pair, thus FOREX is pretty much a gambling scheme. Past behaviour of a pair, doesn't tell you anything. Thus all indicators and MT4 signals are Lagging and Useless. They only serve the purpose of convincing people in their brains there is a possible edge, when it's all lies. Like the person who bets on BLACK in roulette, because he saw 5 reds in a row and believes that BLACK must come out... If he wins, he becomes convinced that he won because he found an edge and exploited...
what was your bet ?
  • #243
  • Edited 2:49pm Mar 8, 2014 2:28am | Edited 2:49pm
Quoting MapleLeaf
You cannot predict the Future and you cannot predict what will happen to a pair, thus FOREX is pretty much a gambling scheme.
......
Indicators and MT4 also open business opportunities to Programmers to profit coding stuff, like you do Hanover. At least it puts food on your table.
Sure, I understand where you're coming from. It's easy for people (myself included) to be fooled by randomness, and also by hindsight bias. I believe that institutional trading creates potentially exploitable price patterns, but that in itself doesn't necessarily guarantee profit.

You seem to think that I make a lot of from money these days from forex-related programming. Well, very simply, I don't. I've been pretty much retired since 2005. Around 95% of my income comes from investments (mainly stocks, bonds and funds). Some of the rest is from miscellaneous software royalties. But nothing significant from either programming, or (as I'm sure you'll be pleased to know) forex trading. Apart from VO-Pro (which started out as a marketing experiment) all of the indicators and EAs I've posted here are FREE.
And that's a FACT.

And I've quit MT4 altogether now that build 600 has made things too difficult for me. I've no desire to re-work all of the indicators and EAs that I've written. So, for better or worse, it's the end of my 7 year foray into forex. I'm heading back into stock options. Ciao.
  • #244
  • Mar 8, 2014 2:39am Mar 8, 2014 2:39am
Quoting hanover
{quote} (as I'm sure you'll be pleased to know) forex trading.
  • #245
  • Mar 8, 2014 3:26am Mar 8, 2014 3:26am
Trading's too hard for me. My strength is long term investing, that's where I must go.
  • #246
  • Mar 8, 2014 4:31am Mar 8, 2014 4:31am
Quoting hanover
{quote} Sure, I understand where you're coming from. It's easy for people (myself included) to be fooled by randomness, and also by hindsight bias. I believe that institutional trading creates potentially exploitable price patterns, but that in itself doesn't necessarily guarantee profit. Well, at least not for me. You seem to think that I make a lot of from money these days from forex-related programming. Well, very simply, I don't. I've been pretty much retired since 2005. Around 95% of my income comes from investments (mainly stocks, bonds and...
I have enjoyed your posts and i admire your coding style , IMHO you shouldn't give up like that if your theory to earn profits and strategy works well you don't need to code it , if you code it , it will be only plus point.

By the way mql5 or modified mql4 is not very difficult , changed only oop is introduced.
  • #247
  • Mar 8, 2014 7:25am Mar 8, 2014 7:25am
Quoting MapleLeaf
{quote} You cannot defeat a Gambling Scheme with DETERMINATION, no matter how hard you try. It's stupid to believe you can. It's all mathematical, just take a look at The Wizard of Odds. He explains it very well, and it applies to FOREX TRADING as well. One thing is DETERMINATION to achieve your goals. Another very different thing is being stupid. It's your call if you want to go ahead and crash your head against the wall, average Schmoe.
First. I would appreciate if you kept the tone civic (meaning no ad hominem). You are entitled to have an opinion as am I. You believe someone else's numbers. I believe only my own numbers.

Second. You think you are so much smarter than me. Yet, you still haven't figured I have a edge (better edges, plural). Actually, you think you are so much smarter than everyone else. Yet, you can't figure ONE SINGLE edge. Wonder why is that? Maybe, because you keep wasting your time reciting the "it's impossible" mantra (doing nothing!), while others use their time working on it.

Quoting hanover
{quote} Sure, I understand where you're coming from. It's easy for people (myself included) to be fooled by randomness, and also by hindsight bias. I believe that institutional trading creates potentially exploitable price patterns, but that in itself doesn't necessarily guarantee profit. Well, at least not for me. You seem to think that I make a lot of from money these days from forex-related programming. Well, very simply, I don't. I've been pretty much retired since 2005. Around 95% of my income comes from investments (mainly stocks, bonds...
Taking profits from the markets. Now don't say that, Hanover. Mapleleaf will be picking a fight with you soon because he 'knows' that's impossible.
"To hold, you must first open your hand. Let go." - Lao Tzu
  • #248
  • Mar 8, 2014 8:58am Mar 8, 2014 8:58am
Quoting MapleLeaf
You cannot predict the Future and you cannot predict what will happen to a pair, thus FOREX is pretty much a gambling scheme. Past behaviour of a pair, doesn't tell you anything. Thus all indicators and MT4 signals are Lagging and Useless. They only serve the purpose of convincing people in their brains there is a possible edge, when it's all lies. Like the person who bets on BLACK in roulette, because he saw 5 reds in a row and believes that BLACK must come out... If he wins, he becomes convinced that he won because he found an edge and exploited...
MapleLeaf,

You never responded to my post regarding your bet in another thread.
http://www.forexfactory.com/showthre...44#post7083644
  • #249
  • Mar 8, 2014 10:06am Mar 8, 2014 10:06am
Quoting vox dei
{quote} First. I would appreciate if you kept the tone civic (meaning no ad hominem). You are entitled to have an opinion as am I. You believe someone else's numbers. I believe only my own numbers. Second. You think you are so much smarter than me. Yet, you still haven't figured I have a edge (better edges, plural). Actually, you think you are so much smarter than everyone else. Yet, you can't figure ONE SINGLE edge. Wonder why is that? Maybe, because you keep wasting your time reciting the "it's impossible" mantra (doing nothing!), while others...


While he repeats his 99.6 mantra day in and day out a good number of us are making very good money in Forex!
  • #250
  • Mar 8, 2014 10:08am Mar 8, 2014 10:08am
Quoting AimHigher
{quote} MapleLeaf, You never responded to my post regarding your bet in another thread. http://www.forexfactory.com/showthre...44#post7083644
I also though about taking his bet as I would crush him in just a few short months however I would lay caution to entering into a financial endeavor with anyone on an internet forum let alone someone who has shown their true character time after time after time.....
  • #251
  • Edited 10:45am Mar 8, 2014 10:21am | Edited 10:45am
Quoting vox dei
{quote} First. I would appreciate if you kept the tone civic (meaning no ad hominem). You are entitled to have an opinion as am I. You believe someone else's numbers. I believe only my own numbers. Second. You think you are so much smarter than me. Yet, you still haven't figured I have a edge (better edges, plural). Actually, you think you are so much smarter than everyone else. Yet, you can't figure ONE SINGLE edge. Wonder why is that? Maybe, because you keep wasting your time reciting the "it's impossible" mantra (doing nothing!), while others...
I used to have six employees in a small business, one of the employees had a very good skill set...the problem was his outlook was always negative, we would start a project with a certain timeline and his initial reaction ( as always ) was we're never going to complete this in the time allocated, 90% of the time we did....even though he was good at his job In the end we let him go, his derogatory attitude sometimes weighed heavy on the rest of the team...

I think you know where Im going with this ...

Maybe some other questions in the thread should be.... how many new institutional traders that work under the umbrella of a successful Fund, IB or MM actually earn a good living ?

hope your weekend is a good one mate..
Memories caught in time but never forgotten
  • #252
  • Mar 8, 2014 11:03am Mar 8, 2014 11:03am
Quoting yazzie
{quote} I also though about taking his bet as I would crush him in just a few short months however I would lay caution to entering into a financial endeavor with anyone on an internet forum let alone someone who has shown their true character time after time after time.....
Ha. I really enjoyed this post yazzie. Not sure why, lol. Much continued success to you in the future.
Remember, Red. Hope is a good thing, maybe the best of things...
  • #253
  • Mar 8, 2014 11:37am Mar 8, 2014 11:37am
Quoting AimHigher
{quote} MapleLeaf, You never responded to my post regarding your bet in another thread. http://www.forexfactory.com/showthre...44#post7083644
I'd love to see someone taking Mapleleaf's bet and money. But I understand perfectly if no one does. His terms are unreasonable (and for good reason ). 3k EVERY month. Come on!? Why not make it 36k in a year?

Quoting yazzie
{quote} While he repeats his 99.6 mantra day in and day out a good number of us are making very good money in Forex!
Unfortunately, I won't be able to say that for some time. Undercapitalization is a b----. But the time will come and that is all that matters. All great things started small.

Quoting j4d
{quote} I used to have six employees in a small business, one of the employees had a very good skill set...the problem was his outlook was always negative, we would start a project with a certain timeline and his initial reaction ( as always ) was we're never going to complete this in the time allocated, 90% of the time we did....even though he was good at his job In the end we let him go, his derogatory attitude sometimes weighed heavy on the rest of the team... I think you know where Im going with this ... Maybe some other questions in the...
A positive attitude goes a long way indeed. It's the first step in achieving anything. What I find funny/ironic in all this is that people who know me usually say I'm quite the pessimist. I always answer that I'm not pessimist or optimist, I'm a realist, but no one cares what I say lol. Had they met a negative nancy like Mapleleaf, they would describe as an optimist

Thanks J. Enjoy your weekend guys.
"To hold, you must first open your hand. Let go." - Lao Tzu
  • #254
  • Mar 8, 2014 3:45pm Mar 8, 2014 3:45pm
Quoting hanover
{quote} Sure, I understand where you're coming from. It's easy for people (myself included) to be fooled by randomness, and also by hindsight bias. I believe that institutional trading creates potentially exploitable price patterns, but that in itself doesn't necessarily guarantee profit. You seem to think that I make a lot of from money these days from forex-related programming. Well, very simply, I don't. I've been pretty much retired since 2005. Around 95% of my income comes from investments (mainly stocks, bonds and funds). Some of the rest...
Yes Hanover, I know you don't make a cent trading FOREX, but it's good you confirm it. At least you are being honest about it, not like a lot of other people making up stuff and pretending to be someone they are not.

Well, in fact most people posting in this forum don't make a long term profit trading forex and ALMOST ZERO make a living trading RETAIL FOREX.

Ciao.
The Black Swan: The Impact of the Highly Improbable
  • #255
  • Mar 8, 2014 3:49pm Mar 8, 2014 3:49pm
Quoting Ck87
Trading's too hard for me. My strength is long term investing, that's where I must go.
Well done, Good Sir.

If you receive a FIXED PERCENTAGE Profit for investing in negotiable instruments, then you are not gambling. That's the way to go if you want to invest long term.
The Black Swan: The Impact of the Highly Improbable
  • #256
  • Mar 8, 2014 3:54pm Mar 8, 2014 3:54pm
Quoting vox dei
{quote} First. I would appreciate if you kept the tone civic (meaning no ad hominem). You are entitled to have an opinion as am I. You believe someone else's numbers. I believe only my own numbers. Second. You think you are so much smarter than me. Yet, you still haven't figured I have a edge (better edges, plural). Actually, you think you are so much smarter than everyone else. Yet, you can't figure ONE SINGLE edge. Wonder why is that? Maybe, because you keep wasting your time reciting the "it's impossible" mantra (doing nothing!), while others...
LOL, if you really have figured out a lot of EDGES or WAYS to EXPLOIT the market and become a multi-billionaire, what are you doing here wasting your time?

Go ahead and keep taking the money from GOLDMAN SACHS, PIMCO, and the CEO/OWNERs of O-ANDA and FX-CM...

Come on, go ahead! You are a genius who figured out a lot of EDGES to take their money, VOX DEI...

I just have two word for you VOX DEI: Pseudologia fantastica.
The Black Swan: The Impact of the Highly Improbable
  • #257
  • Mar 8, 2014 3:59pm Mar 8, 2014 3:59pm
Quoting AimHigher
{quote} MapleLeaf, You never responded to my post regarding your bet in another thread. http://www.forexfactory.com/showthre...44#post7083644
I have posted my BET like 20 times, you can check my posts, its all over the place.

NOBODY in this forum could take it. 10,000 active members and NOBODY could take it.

And I even put the barrier VERY LOW, and put the number at 2K per month. NOBODY could take it, not even "YAZZIE" who FALSELY CLAIMED to make 24K per period... I wonder if some people can sleep well at night after so much LIES.

Like I said many times, we would make everything with signed documents and with a lawyer as middle man handling everything. Nowadays there are many online services for things like this, this is no longer 1996, it's 2014 and its called business 101. Obviously people like "YAZZIE" will try to give any excuses as to why he would not enter the BET. The only truth is that he doesn't make a living in this and he WILL LOSE BIG TIME. that's a FACT... Money talks, champ.

Now I understand why Jordan Belfort or other known Scammers from The Forex and Trading Market who went to PRISON, got high all day long, every single day, it was because they could not sleep well at night after their daily routine of scamming people out with their LIES.

Ciao.
The Black Swan: The Impact of the Highly Improbable
  • #258
  • Mar 8, 2014 4:01pm Mar 8, 2014 4:01pm
Quoting vox dei
3k EVERY month. Come on!? Why not make it 36k in a year?
I even lowered the barrier to 2K per month in another post and guess what?

Yeah, nobody could take it. They know they will lose, nobody can defeat a gambling scheme.

Ciao.
The Black Swan: The Impact of the Highly Improbable
  • #259
  • Mar 8, 2014 4:39pm Mar 8, 2014 4:39pm
Quoting MapleLeaf
{quote} I even lowered the barrier to 2K per month in another post and guess what? Yeah, nobody could take it. They know they will lose, nobody can defeat a gambling scheme. Ciao.
Day trading is close to impossible. Long term investing is where it's at, I'm convinced of this. And It's no kiddie game either, there's real money to be made in long term investing when you're patient and wait for extreme opportunities after big sell offs.

IE. Russian stock market sooner or later
  • #260
  • Mar 8, 2014 4:55pm Mar 8, 2014 4:55pm
Quoting MapleLeaf
{quote} I have posted my BET like 20 times, you can check my posts, its all over the place. NOBODY in this forum could take it. 10,000 active members and NOBODY could take it. And I even put the barrier VERY LOW, and put the number at 2K per month. NOBODY could take it, not even "YAZZIE" who FALSELY CLAIMED to make 24K per period... I wonder if some people can sleep well at night after so much LIES. Like I said many times, we would make everything with signed documents and with a lawyer as middle man handling everything. Nowadays there are many...
MapleLeaf,
As you very well know you could set the monthly number to $100 and still get no takers for your bet since it is (deliberately?) set up in such a way that the unavoidable volatility of any trading system will virtually guarantee that a trader has a negative month. That also means your bet would prove nothing since luck would be the biggest determinant of the outcome. To make this a realistic and somewhat more meaningful "bet" the terms would have to be changed to an annual profit target with no restrictions on monthly performance. I am sure you would get quite a few takers then but i am equally sure you will not change the terms in such a way since you know there is a good chance you would lose.
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