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  • #901,041
  • May 28, 2014 12:14am May 28, 2014 12:14am
Quoting Leijenberg
{quote} In the end its gambling, because we mortal retail traders don't have 100% certainty of what will happen the next 5m, 1 hour, tomorrow, etc.. otherwise many of us would be rich by now (hobby or not). But there are different gambling situations.. I perceive forex more like texas hold'em than a roulette, at least we have control of our exposure and decide wether or not enter a trade or fold.
Yea, I just don't like the word gambler because in most cultures it has the negative connotation. Gamblers gamble away the money, play the house and always lose kind of meaning . Gamblers most of the time play knowing that they will lose just because of the addiction. My point is that even business is a gamble. Any kind of investment is a gamble. There is no guarantee. You could open up a nice grocery store in an ideal community and have done all the analysis, and the next day, Walmart could start building one of their stores right across from you.. haha you could open a coffee shop and everything goes well and Starbucks comes to your doorstep and just dries you out. But if you have 3-4 shops open in different locations, then you have a chance of adjusting and adapting and comming out as a winner. Anything is possible. Like most successful business people do, you have to take multiple risks and not have all eggs on one basket. Anyways.. let me not get into this mumbo jumbo.. I'm sure most of us are aware of this hehe

Focus, Patience, Determination & Order in chaos
  • #901,042
  • May 28, 2014 12:22am May 28, 2014 12:22am
Quoting saver0
{quote} That sure sounds pessimistic. You sound more like a gambler I apologize ahead of time if I may have understood what you meant incorrectly.. but If what you are saying is true then all of us are just wasting our time here gambling away our money. I'm sure there are a good number of traders here doing this for more than just a hobby and making a nice living trading. So I must disagree with you. Just look at ForexCube here on this forum, he makes a killing with his trades for many years. I have followed his stuff and read through A LOT of...
  • #901,043
  • Edited 12:42am May 28, 2014 12:26am | Edited 12:42am
Quoting saver0
{quote} That sure sounds pessimistic. You sound more like a gambler I apologize ahead of time if I may have understood what you meant incorrectly.. but If what you are saying is true then all of us are just wasting our time here gambling away our money. I'm sure there are a good number of traders here doing this for more than just a hobby and making a nice living trading. So I must disagree with you. Just look at ForexCube here on this forum, he makes a killing with his trades for many years. I have followed his stuff and read through A LOT of...
I am not pessimistic, you may like to re-read what I mentioned about longer-term and day trading.

As far as gambling is concerned, I am a third generation gambler and gambling is my profession just like it was my father's and his father's.

Not all, but many are wasting away their money in foreign currency trading which is pure gambling if they are not doing this to hedge, fully or partially, risk in any other asset or a libility or contract/commitment. If one is buying or selling currency for the sake of benefiting from such transactions is doing nothing but gambling. There is a great difference between Punting and Gambling. Many people use the term Gambling when they actually mean Punting. Book-making is also gambling, although Book-making has no element of risk. There are few longer-term currency trading methods that are 99% book-making and therefore almost risk free. I am not aware of any currency trading method that is 100% risk-free, however do know (and practice) similar methods in other gambling ventures that are 100% risk free, including in horse-racing and Sports Bettings. This feature of currency trading makes it more vulnerable to risk than any other Variable Rate Gambling. In other words, currency trading is more gambling than many gambles.

You quoted ForexCube, I haven't checked his method may be he is also using some sort of Book-making method, like X.Oden (another ff member) does. Don't know about ForexCube, but one thing I know about X.Oden's method is that it would not have lost a single trade since 2009. I am testing his method for the past 4 years and keep on wondering. Is it magic? Not at all. It is simply a combination of understanding how this market works and managing your money. You don't need to use a single technical or fundamental in application of his method.

I like your driving analogy. Most smart of these traders some day understand how this market works and then develop a method to benefit from it, rest just crash.

Happy pipping mate!
The Thief of Wall Street
  • #901,044
  • May 28, 2014 12:31am May 28, 2014 12:31am
Quoting saver0
{quote} Yea, I just don't like the word gambler because in most cultures it has the negative connotation. Gamblers gamble away the money, play the house and always lose kind of meaning . Gamblers most of the time play knowing that they will lose just because of the addiction. My point is that even business is a gamble. Any kind of investment is a gamble. There is no guarantee. You could open up a nice grocery store in an ideal community and have done all the analysis, and the next day, Walmart could start building one of their stores right across...
PROredart is not PRO trader
  • #901,045
  • May 28, 2014 12:37am May 28, 2014 12:37am
Quoting Chicky
{quote} I am not pessimistic, you may like to re-read what I mentioned about longer-term and day trading. As far as gambling is concerned, I am a third generation gambler and gambling is my profession just like it was my father's and his father's. Not all, but many are wasting away their money in foreign currency trading which is pure gambling if they are not doing this to hedge, fully or partially, risk in any other asset or a libility or contract/commitment. If one is buying or selling currency for the sake of benefiting from such transactions...
Yea I agree with you I am no professional gambler or bookmaker so I will take your word for it hehe

About X.Oden.. I have been looking at his posts. Where did the guy disappear to? Just curious
Focus, Patience, Determination & Order in chaos
  • #901,046
  • May 28, 2014 12:46am May 28, 2014 12:46am
Quoting saver0
{quote} Yea I agree with you I am no professional gambler or bookmaker so I will take your word for it hehe About X.Oden.. I have been looking at his posts. Where did the guy disappear to? Just curious
Yes, his/her last online date is Mar 8, 2012
PROredart is not PRO trader
  • #901,047
  • May 28, 2014 12:48am May 28, 2014 12:48am
come on !!! just break into 1.35 !
K.I.S.S.
  • #901,048
  • May 28, 2014 12:51am May 28, 2014 12:51am
Quoting saver0
{quote} Yea I agree with you I am no professional gambler or bookmaker so I will take your word for it hehe About X.Oden.. I have been looking at his posts. Where did the guy disappear to? Just curious
I made some date / year correction in my earlier post. It is 2009 and not 1995. I have been testing his method since then.

This guy developed some differences with few posters on eurusd thread............ usual ego thing. He left annoyed because he had to close running trades in a live account to free up this account for a challange trading. The opponents never put up their money and backed out. I did not like that and wrote something about it. In the end he blessed me with his method in several private e-mails and disappeared. I truely believe he has discovered the holigrail.
The Thief of Wall Street
  • #901,049
  • May 28, 2014 1:05am May 28, 2014 1:05am
Quoting Chicky
{quote} I made some date / year correction in my earlier post. It is 2009 and not 1995. I have been testing his method since then. This guy developed some differences with few posters on eurusd thread............ usual ego thing. He left annoyed because he had to close running trades in a live account to free up this account for a challange trading. The opponents never put up their money and backed out. I did not like that and wrote something about it. In the end he blessed me with his method in several private e-mails and disappeared. I truely...
It's great to know that you have his method now. If possible, Better to share here plz.
PROredart is not PRO trader
  • #901,050
  • May 28, 2014 1:09am May 28, 2014 1:09am
Female Gods must be speaking french ...
"It's the Margin, Stupid."
  • #901,051
  • May 28, 2014 1:10am May 28, 2014 1:10am
Quoting PROredart
{quote} It's great to know that you have his method now. If possible, Better to share here plz.
According to X.Oden, the original inventor of this method made over $1 billion in 10 years using this method.

I will share this method here for public exhibition to all traders and brokers, only if a mad dog bites me. Bring a mad dog.
The Thief of Wall Street
  • #901,052
  • May 28, 2014 1:13am May 28, 2014 1:13am
Quoting Leijenberg
come on !!! just break into 1.35 !
May not be that soon i think.. First a little up move then down may be..
Forex Learner
  • #901,053
  • May 28, 2014 1:19am May 28, 2014 1:19am
Quoting Chicky
{quote} According to X.Oden, the original inventor of this method made over $1 billion in 10 years using this method. I will share this method here for public exhibition to all traders and brokers, only if a mad dog bites me. Bring a mad dog.
so you made $500 million since 2009
  • #901,054
  • May 28, 2014 1:25am May 28, 2014 1:25am
Quoting Chicky
{quote} According to X.Oden, the original inventor of this method made over $1 billion in 10 years using this method. I will share this method here for public exhibition to all traders and brokers, only if a mad dog bites me. Bring a mad dog.
Hmm, I got your point. Thanks
PROredart is not PRO trader
  • #901,055
  • May 28, 2014 1:26am May 28, 2014 1:26am
Quoting KiwiTrada
{quote} its bit of a delayed start following data but kiwi has led the way, geppy attacking previous lows now, very important levels if she can break them
4hrs later 1st fence been taken straight into next fence now is do or die time
If you are new to Forex? Say Goodbye to your account!!
  • #901,056
  • May 28, 2014 1:30am May 28, 2014 1:30am
Quoting Rockerzeus
{quote} so you made $500 million since 2009
No. I am still digging into the concept and philosophy of this method, also working on management aspect of how not to let know your broker what you are doing. He uses security features, but they seem very weak. I am trying to add more security features. Another thing is minimum capital requirement, but that I have sorted out. However, the most difficult part is complexity of trades. They require a lot of calculations. I am trying to simplify these calculations. Think I have found a way to ease these calcualtion and in fact I today opened my first trade on a new demo account to see if these simplified calculations practically work. He gave me few worksheets to keep track of the calculations but they are still too complicated for me. Nothing is easy in this world. It took me almost 3 years only to understand the concept. He not only explained me the method, but also trained me on a demo account by opening and closing trades so that I could see the live application of his method. While I was under training, he never liked any new ideas and always insisted on keeping the things as they were. I now realize he was very right.
The Thief of Wall Street
  • #901,057
  • May 28, 2014 1:34am May 28, 2014 1:34am
EURUSD M15

Elliot Wave (iii)?

Just now I bought 1.3634/36
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdm15.png Size: 50 KB
Attached Image
PROredart is not PRO trader
  • #901,058
  • May 28, 2014 1:36am May 28, 2014 1:36am
Quoting Chicky
{quote} No. I am still digging into the concept and philosophy of this method, also working on management aspect of how not to let know your broker what you are doing. He uses security features, but they seem very weak. I am trying to add more security features. Another thing is minimum capital requirement, but that I have sorted out. However, the most difficult part is complexity of trades. They require a lot of calculations. I am trying to simplify these calculations. Think I have found a way to ease these calcualtion and in fact I today opened...
That's good for you Chicky. But not much use for us now is it haha

It's like you are saying you have a genie in a bottle that tells you the trades. That and this, not much of use for us. If you were going to share something about it, then yea, that would be awesome and sure would help a lot of us. You don't need to convince anyone of what you have unless you are planning to leak the details. Better keep it a secret since its suppose to be a secret I'm just saying.. I get annoyed when people say" I have this and that" and won't share it.. bragging about it won't do any of us any good.. it will be just wasted time, your time writing about it and our time reading about it.. know what I mean?

peace
Focus, Patience, Determination & Order in chaos
  • #901,059
  • May 28, 2014 1:38am May 28, 2014 1:38am
Quoting saver0
{quote} That's good for you Chicky. But not much use for us now is it haha It's like you are saying you have a genie in a bottle that tells you the trades. That and this, not much of use for us. If you were going to share something about it, then yea, that would be awesome and sure would help a lot of us. You don't need to convince anyone of what you have unless you are planning to leak the details. Better keep it a secret since its suppose to be a secret I'm just saying.. I get annoyed when people say" I have this and that" and won't...
Ok Boss. But don't forget I am 92 and planning to live only upto 120.
The Thief of Wall Street
  • #901,060
  • May 28, 2014 1:39am May 28, 2014 1:39am
Quoting PROredart
EURUSD M15 Elliot Wave (iii)? Just now I bought 1.3634/36 {image} {image}

If you are new to Forex? Say Goodbye to your account!!
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