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Too Many Lies In The Forex Trading World!

  • #1
  • First Post: Apr 7, 2014 10:21am Apr 7, 2014 10:21am
Dear Traders,

I have observed with time that all theories about trading are for theories sake. You can never make real money obeying them. I wonder why. All the EMA crossovers are lies, Oversold and Overbought are lies, the use of stop-loss to minimize your loss is a lie. I might sound wrong but that is my observation. You must do something different!

The bottom line, You can never make cool money obeying 95% of those forex theories. Please traders share your experiences with us and let us rub minds.


Regards
Happy Trading!!!
  • #2
  • Apr 7, 2014 10:31am Apr 7, 2014 10:31am
If you follow the mass, you will do like the mass.

You must find your own way, develop your own trading method according to your own style and risk.
MT4/MT5 EAs/Indicators/Alerts coder
  • #3
  • Apr 7, 2014 10:47am Apr 7, 2014 10:47am
Quoting dare123
Dear Traders, I have observed with time that all theories about trading are for theories sake. You can never make real money obeying them. I wonder why. All the EMA crossovers are lies, Oversold and Overbought are lies, the use of stop-loss to minimize your loss is a lie. I might sound wrong but that is my observation. You must do something different! The bottom line, You can never make cool money obeying 95% of those forex theories. Please traders share your experiences with us and let us rub minds. Regards Happy Trading!!!
trust only your self and your own mind
All posts are my personal opinion
  • #4
  • Apr 7, 2014 10:50am Apr 7, 2014 10:50am
Let me share The Truth and The Holy Grail...

http://www.forexfactory.com/showthread.php?t=478671

Good Luck.
  • #5
  • Apr 7, 2014 10:51am Apr 7, 2014 10:51am
Quoting FerruFx
If you follow the mass, you will do like the mass. You must find your own way, develop your own trading method according to your own style and risk.
As a matter of fact, the only thing that makes sense to me is risk management or money management in trading. The use of indicators and alot of strategies online to me looks like rubbish(with all due respect to the inventors of the strategies).

For example we were taught that your indicators must be forward looking for accurate projection of price movement; many traders have done this and they are always loosing money.
My discovery was different, I discover you make money and project price movement accurately when your indicators are backward looking.
  • #6
  • Apr 7, 2014 11:07am Apr 7, 2014 11:07am
Quoting grin
Let me share The Truth and The Holy Grail... http://www.forexfactory.com/showthread.php?t=478671 Good Luck.
The Holy Grail is actually in your discovery.
  • #7
  • Apr 7, 2014 12:21pm Apr 7, 2014 12:21pm
.
Quoting dare123
Dear Traders, I have observed with time that all theories about trading are for theories sake. You can never make real money obeying them. I wonder why. All the EMA crossovers are lies, Oversold and Overbought are lies, the use of stop-loss to minimize your loss is a lie. I might sound wrong but that is my observation. You must do something different! The bottom line, You can never make cool money obeying 95% of those forex theories. Please traders share your experiences with us and let us rub minds. Regards Happy Trading!!!

Donīt trade noise!
  • #8
  • Apr 7, 2014 1:34pm Apr 7, 2014 1:34pm
The market is a game, nothing more nothing less. And its pure SIZE of money that moves the markets.
If you can grasp and learn to see how these big players move the market and play with it to get their huge orders filled you would be able to anticipate their actions and play along with them, hence getting the edge and riding along with them as money is coming into the market and the (infamous) stops trigger a cascade of momentum as weak money leaves the market.

What you see on a chart is delayed, gets you in late as big money is leaving and reversing on you....hence the massive amount of false signals indicators and chart patterns/candles produce.

This does NOT mean certain individuals cannot make it work for them but it surely does put you at a disadvantage.

This mentality also leads to trading without stops (which can work of course) but it doesnt mean its the 'only' way to make it work.
  • #9
  • Apr 7, 2014 2:17pm Apr 7, 2014 2:17pm
Quoting grin
Let me share The Truth and The Holy Grail... http://www.forexfactory.com/showthread.php?t=478671 Good Luck.
l

All trading systems are self referential
  • #10
  • Apr 7, 2014 2:41pm Apr 7, 2014 2:41pm
OP, if you're looking for an argument you've come to the wrong place. I completely agree with your sentiment.

Indicators. Lie!
Trend. Lie!
Charts. Lie!
S/R. Lie!

It took me a while to figure it. Everything listed above is based off past data. Sorry to be the bearer of bad news to the folks who rely on said methods but the above methods do not work in the real market. No matter what that market is (i.e. forex, futures, equities, options, etc). In addition, prediction doesn't work either. Constantly see traders making cast-iron market predictions using the above methods and wondering why their strategy didn't work out as planned. It's IMPOSSIBLE to predict the future, no matter what method one uses. When I figured this out, years ago, I tossed everything I knew and was taught about trading markets out the window. From then I began trading the market solely based on my own ideas and managed the only thing I had complete control over (i.e. Risk Management).
  • #11
  • Apr 7, 2014 3:08pm Apr 7, 2014 3:08pm
Learn to use your indicators before you spit on them...
There is a winner and a loser, nothing in between.
  • #12
  • Apr 7, 2014 3:32pm Apr 7, 2014 3:32pm
Forex trading is more like an illusion.
Once you understand the laws of illusion everything becomes more-less obvious. Assumed truths and lies of/about forex is just one inseparable layer of the whole puzzle.
As Above, So Below
  • #13
  • Apr 7, 2014 3:37pm Apr 7, 2014 3:37pm
Quoting Jhig
OP, if you're looking for an argument you've come to the wrong place. I completely agree with your sentiment. Indicators. Lie! Trend. Lie! Charts. Lie! S/R. Lie! It took me a while to figure it. Everything listed above is based off past data. Sorry to be the bearer of bad news to the folks who rely on said methods but the above methods do not work in the real market. No matter what that market is (i.e. forex, futures, equities, options, etc). In addition, prediction doesn't work either. Constantly see traders making cast-iron market predictions...
Hi Jhig,

Agree, Risk Management is a need to have and without a educated, tested approach you can;t be successful however not the only key to success in trading. If you only have good risk management but strategy sucks you just delay the inevitable.
  • #14
  • Apr 7, 2014 3:48pm Apr 7, 2014 3:48pm
Quoting Rtm
{quote} trust only your self and your own mind
Hi RTM,

Unless you have no idea then your stuffed. But seriously as you said the only way to succeed is to trust yourself and your decisions thinking interdependently of others. Cliche but the only way this can happen is, screen time, hard work and a decent tested sample size of your trading ideas for your strategies to give you the confidence.

  • #15
  • Apr 7, 2014 3:50pm Apr 7, 2014 3:50pm
sorry couldn't resist

Inserted Video
tradewith60
  • #16
  • Apr 7, 2014 3:53pm Apr 7, 2014 3:53pm
Quoting tashkent
Forex trading is more like an illusion. Once you understand the laws of illusion everything becomes more-less obvious. Assumed truths and lies of/about forex is just one inseparable layer of the whole puzzle.
Currency is just like any other vehicle for trading whether spot or futures the only difference is it;s accessibility in spot to anyone who has few dollars and wants give it a shot and a lot of part timers which gives it a high failure rate and brings in new suckers everyday.
  • #17
  • Apr 7, 2014 4:31pm Apr 7, 2014 4:31pm
Quoting Pipalicious
The market is a game, nothing more nothing less. And its pure SIZE of money that moves the markets. If you can grasp and learn to see how these big players move the market and play with it to get their huge orders filled you would be able to anticipate their actions and play along with them, hence getting the edge and riding along with them as money is coming into the market and the (infamous) stops trigger a cascade of momentum as weak money leaves the market. What you see on a chart is delayed, gets you in late as big money is leaving and reversing...
This is a good logical answer. Makes you think, is it pro money or pink line crossing the blue line that moves the market

In the market , just like in life. YOU are being had at every turn.

You either mug someone off or they do it to you.............smartest wins. The game of life!
I need to finish something i started
  • #18
  • Apr 7, 2014 4:39pm Apr 7, 2014 4:39pm
This is quite a read, but exposes peoples greed and fear, coupled with the yearning for microwave success.

The Bandwagon Theory


Imagine a bandwagon that is rolling forward at a quickened pace. Music
that is very pleasing to the ear is being played from speakers on each side
of this bandwagon, and a few people currently on the back of the wagon
are partying, having the time of their lives. The music, loud and clear,
starts to attract many other onlookers that happen to be idly standing on
the sidelines. These onlookers, unable to resist the sweet sounds being
played, run to join the party that seems to be going on. Progressively,
more and more onlookers jump on the back of this bandwagon, and
those few who were initially enjoying the first phase of the party begin to
leave. As the crowd of new party animals on this bandwagon grows
larger, the bandwagon finds it harder and harder to move forward at the
same pace. It slows, enabling more and more late onlookers, witnessing
the great fun, the chance to jump on. The crowd grows even larger.
Larger and larger this crowd grows, until the bandwagon, heavily laden
with the bodies of drunken party animals, can no longer move forward.
It finally comes to a complete stop. Now that the bandwagon is at a com-
plete standstill, more people jump on. And why not? At this point, joining
the fun is easy. Absolutely no work is required, for individuals wanting
to join the crowd no longer have to run to jump on board. But the nature
of the bandwagon is to move forward. Its motionless state is unnatural,
and therefore cannot last. It tries to move forward again, but can’t. The
crowd, piled on back, is much too large. It must free itself of the heavy
burden. And it does. It quickly shifts into reverse, and jolts backward,
knocking a few of the party animals off the back. The music stops. Puz-
zled faces from the crowd begin to emerge. Before anyone figures out
what’s going on, another backward jerk takes place, only this one is more
violent. Another large group of people gets thrown off the back. Now, re-
ality sets in. The fun has turned into a nightmare of epic proportions, and
panic begins to run rampant. Some decide to jump to their deaths. An-
other thrust backwards sends an even larger group of drunken, off-
balance people, hurling to the muddy ground. It doesn’t stop. The jolts
backward continue, each successive one more violent than the last. At
this point, only a few die-hard wagon dwellers are holding on, their very
lives hanging in the balance by a very thin thread. Failing to be com-
pletely free, the bandwagon angrily puts the pedal to the metal, and this
final thrust backward is so vicious that its front wheels lift high off the
ground, momentarily suspending the wagon in a perpendicular posi-
tion. The last of the hangers-on crash to the ground, broken and maimed
to no end. At this point, a new group of onlookers emerge from the
nearby woods. They are clean and serene. Each movement they make is
deliberate and powerfully energetic, for they did not take part in the
tragedy that just transpired. Or did they? A few of the dejected souls ly-
ing on the ground take a closer look, a look that reveals something very
interesting. This seemingly new group is not new at all. It is the same
group that was seen quietly exiting the party before it came to its violent
end. An even closer examination by a few more beaten-down onlookers
reveals something even more stunning. This group not only exited the
party early, they were the originators of it! “My God,” someone exclaims.
Paralyzed, and unable to move freely, all these dejected souls can do is
watch, as the masters of the game go to work, again. No sooner does the
bandwagon’s wheels hit the ground than this professional platoon bolts
for the wagon. In a flash they are on board. Easy. The bandwagon, now
free of the larger crowd, can move forward freely and gracefully, com-
fortably carrying the more astute group with it. Its pace quickens, and
before long a smooth elegant stride is in place. After a few miles of unin-
terrupted movement, someone from this masterful group flips on a
switch, and suddenly the loud sounds of entertaining music start again.
Someone yells, “OK everyone. Here they come. Let’s do it again.” Within
moments, those who were the former victims of the backward crash be-
come interested again. The music almost calling them from the grave.
And once more, the never-ending cycle repeats.
I need to finish something i started
  • #19
  • Apr 7, 2014 9:53pm Apr 7, 2014 9:53pm
Quoting bigwal
This is quite a read, but exposes peoples greed and fear, coupled with the yearning for microwave success. The Bandwagon Theory Imagine a bandwagon that is rolling forward at a quickened pace. Music that is very pleasing to the ear is being played from speakers on each side of this bandwagon, and a few people currently on the back of the wagon are partying, having the time of their lives. The music, loud and clear, starts to attract many other onlookers that happen to be idly standing on the sidelines. These onlookers, unable to resist the sweet...
Nice read This is all too true in a lot of things today..
  • #20
  • Apr 7, 2014 10:52pm Apr 7, 2014 10:52pm
LIES? TRUTH?

These do not matter in Forex Trading as it is all about INTERPRETATION of the info being presented.

The Fundamentals (News) are the Science, and The Technicals (Charts) are The Art. The Profit/Loss depends on how you "read" these two, and that is what separates the 70% who fail, and the 30% who win, IMHO
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