Money makes money | Page 2 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Mark Makes Money 2 replies

How does STP broker makes money? 11 replies

How Your Forex Broker Makes Money? 7 replies

Prettyboy Makes All The Money 6 replies

MEVA machine that makes money 43 replies

Attachments: Money makes money
Exit Attachments

Money makes money

  • #21
  • Nov 9, 2014 11:05am Nov 9, 2014 11:05am
Quoting smash1820
{quote} No problem Prosteja. I'm sorry if I came across as rude or harsh, because that was not my intent. Personally, I can't stand to look at balance sheets, income statements, blah, blah, blah, or any of that crap All I need is a few good-looking charts, and I'm off to the races... Anyways, I won't judge anymore... I'll let the admins decide what to do with this one! I imagine they will keep it right here. I suppose it would also be interesting to see your thoughts about ways to "accelerate" your bankroll.

No worries Smash. I've just claryfied why I do start this thread. I personally prefer trading as well. However I invest as well. In trading I want to see high return and not to lose a lot (I can accept quite a big risk when trading but must pay off) and in investing I don't want to lose (in long-term)

Let me explain why I think investing is important.

This is my trading portfolio in last month:
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_268.png Size: 24 KB


As you can see volatility of my portfolio is huge. It means I can make a lot. But on the other hand, I can easily lose too. But when I move money from trading to investments it is much more safe. Return potential is not so high, but I don't need to be millionaire in 2 years. I'd like to cover my personal expenses and be able to invest more. In case I lose my trading account I'll lose my confidence which is much worse than losing money (it never happened but I'm still really afraid).

And I question myself everyday: Why do you need a lot money on trading account when it can be lost? Profit is profit only if it is moved to my bank account.

I think we should trade more responsibly and move some money to different assets. Not all of them, but always keep in mind that money are made by randomness. Most traders think they make money because they are good traders, but I'm not so much convinced...

I think we should realize that we can lose money whenever and therefore be more grateful when we make it and think a lot of if it is just coincidence or we are really so good. I'm not convinced about my qualities. If I have constant growth for 20 years maybe I can say I'm good. But till then ....

Feel free to share your ideas as well.
Lose small, win BIG
  • #22
  • Nov 11, 2014 12:34pm Nov 11, 2014 12:34pm
Is trading the right business for you?

Many people start trading because they read how much money can be made in markets. And that's it. Do you know how much money can be made when you are good app developer, cook, writer, dancer, singer... Is it enough to start this business?

It's not such a thing as easy made money. People think so because they can see so many people suceeded in this field. What they don't see are millions persons who didn't achieved their success in the market (or any other field). It is the same as say actors make a shitload of money. Yes, those you see on the screen they do. And the rest? Do they make so much money? At bar they don't pay so much (experience), but they are still in acting business.

They same we see when have a look on traders. Few of them made fortune and most of them lost it. It is the same as in every other field of business. Few individuals are good and make money.

Of course, you will be one of that rich individuals. You bet, right? Everybody does.

Are you ready to study, fail, study, fail, study, fail, give up, study, fail, fail, give up, succeed, fail, study.... It is very difficult business. Not so easy as brokers say. If it is so easy everybody was a millionaire...

Do you do it because you love markets or because you want to make a fortune?
Lose small, win BIG
  • #23
  • Nov 11, 2014 4:16pm Nov 11, 2014 4:16pm
Why stupid traders are the most confident and clever traders are unassuming

As I always used to read trading forums and sometimes joined some discussions I met many traders. Very common feature is that arrogant traders are ignorant. They experience couple of good months and they suddenly know everything. They can even predict future movements. They fight for the right reason why markets will change direction at that and this point.

Why do traders do predictions?
The best traders I met never know what will happen (nobody knows but not every but will admit...). They want to make money and not to predict market. It is good feeling to be right ut has nothing to do with making money. Do you want to be trader? Ask yourself how you can make money when some specific situation happens. All you need is couple of hours of thinking. Think more, trade less. Trading can be very profitable when you use your brain.

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_223.png Size: 598 KB


Back to stupid traders, they are not traders. They are lucky persons with opened account. When you will open trades by tossing a coin you will experience really good periods (do you find a way how to make money consistently with coin toss strategy?-bear in mind there is no 50% chance that your trade will be profitable as many people think...)

Some posts will be published just to make you think.

Open your minds and make money
Lose small, win BIG
  • #24
  • Nov 12, 2014 3:35pm Nov 12, 2014 3:35pm
New system in the market

Today is my big day. New system started in the market for live. I'm still afraid and I'll be withdrawing big part of profits every month (or week) and hope it makes 100% return soon that my money will be at BE at least. Wish me luck (or better to wish me probabalistic advantage) and hopefully my pocket doesn't stay empty. My expectation is 8% monthly in long-run. Reallistically -6 - +20%. Oh god... am I praying? Fuck!

This was very difficult day and I'm really tired. One step ahead to bankruptcy or freedom.

Que viva la vida!
Lose small, win BIG
  • #25
  • Nov 12, 2014 3:54pm Nov 12, 2014 3:54pm
Quoting ProsteJa
New system in the market Today is my big day. New system started in the market for live. I'm still afraid and I'll be withdrawing big part of profits every month (or week) and hope it makes 100% return soon that my money will be at BE at least. Wish me luck (or better to wish me probabalistic advantage) and hopefully my pocket doesn't stay empty. My expectation is 8% monthly in long-run. Reallistically -6 - +20%. Oh god... am I praying? Fuck! This was very difficult day and I'm really tired. One step ahead to bankruptcy or freedom. Que viva la vida!...
share with us your system if u want...
  • #26
  • Nov 12, 2014 3:59pm Nov 12, 2014 3:59pm
Quoting vladutz112
{quote} share with us your system if u want...
Hi Vladutz,

Thanks for support but I decided not to share my specific market ideas as I don't have very good experience with that. And I don't think it matters what system I use as everybody is different and prefer different approach and I can't say my system is good as I don't have any results. And it is good to keep some secrets as well

adam
Lose small, win BIG
  • #27
  • Nov 12, 2014 11:19pm Nov 12, 2014 11:19pm
Hai ProsteJa,

really like your comic up there...it is really depicting :
1. How news (rumors) effecting the market.
2. How market marker controlling the market

am I right?
Maura Zaky Putri Fadhin
  • #28
  • Nov 13, 2014 1:26am Nov 13, 2014 1:26am
Quoting azmoeth
Hai ProsteJa, really like your comic up there...it is really depicting : 1. How news (rumors) effecting the market. 2. How market marker controlling the market am I right?

Hi azmoeth,

What do you mean by depicting? I'm not sure if I clearly understand your post. Could you please explain it little bit. Thank you
Lose small, win BIG
  • #29
  • Nov 13, 2014 4:51am Nov 13, 2014 4:51am
Quoting ProsteJa
{quote} Hi azmoeth, What do you mean by depicting? I'm not sure if I clearly understand your post. Could you please explain it little bit. Thank you

pardon my english, by depicting I meant describing.. the market is moved on rumors

by the way..is there any market marker in forex? they say it's too big even a central bank can't control it...
Maura Zaky Putri Fadhin
  • #30
  • Nov 13, 2014 12:48pm Nov 13, 2014 12:48pm
Quoting azmoeth
{quote} pardon my english, by depicting I meant describing.. the market is moved on rumors by the way..is there any market marker in forex? they say it's too big even a central bank can't control it...
My english is not the best, probably my bad. There are many market makers on forex. They allows you to buy and sell. See this link to investopedia.
Lose small, win BIG
  • #31
  • Nov 13, 2014 3:21pm Nov 13, 2014 3:21pm
Money ant its value

lLast days I was thinking a lot about money ant its value. Consider me person who is paid for exchange of time. More time I spend at work, more money I get. It is logical that more time you dedicate to one subject more money you get for it. As person who likes to think I have still new questions and answers are coming slowly. Question for now is why our income should be directly proportional to time spent on some subject. In other words, why should we get paid double when we work double of time.

Does it mean my income is limited by my time. And I can't make a lot of money without working 16hours a day? This is reality of most of us (hopefully not for ever) and it seems to be ok. Not for me. It would mean all my studying markets and money is meaningless. To be honest, I didn't study because of my academic spirit. I'm not academic spirit. I couldn't stay my university which I left because I didn't agree with dogmas.

Can I break this dogma which makes me crazy. Can money be made passively? Can I make more money by investing money than by active work? Of course, I and you can. How to show it others? How to open them eyes? They can live better (at least their financial situation can be better).

I'm think about it because of EA launched yesterday (by the way, it is down 10 eur as I've found a position calculation error which wasn't present in demo trading- that's mystery for me... ). Can I open an account and make money by hanging on? Sounds well but difficult to believe. No analysis, no difficult decision making. Just having an account...

Who is going to keep my fear away?
Lose small, win BIG
  • #32
  • Nov 14, 2014 4:28am Nov 14, 2014 4:28am
About mean reversion, why we want to check our positions every day and are afraid of loss.

We are often nervous because our positions are in open loss. We are even more afraid when we lose money. Did you know it is not beneficial for you to check your positions too often and why it is better not to check them in real time?

Let's talk about mean reversion. This theory basically says that value will oscilate around its mean. Once is above, once is below. And what is more important - those oscilations are only a noise. It means every single trade is a noise. You can have a nice picture about your results when many trades were closed. When we make a lot of money in one trade we were lucky. When we lose we are unlucky and it doesn't tell us any useful information. We've just got a noise message which can be ignored.

It is a reason why it is not convenient to check your portforlio very often and not good to follow it up in real time. It doesn't make any sense. And it will solve the next problem we face. Loss aversion. We want not to lose. It is a biological. You can't win this battle but you can decrease it by not following up your portfolio. That's really interesting - I suggest not to spend so much time in your platform to decrease emotional impact which can impact your trading decision and decrease your performance.

That's about my Friday's thoughts. Maybe some time we can discuss it deeper.

Have a nice weekend!
Lose small, win BIG
  • #33
  • Nov 15, 2014 2:43pm Nov 15, 2014 2:43pm
First week (actually two days) of my EA is over. It is too early to be happy or frustrated but time to bring some results and my comments. As this is first week I was really afraid. It made +0.5% what is 5 euro. As I said it is too early to make assumptions. My plan is to withdraw 50% of all monthly profits to protect my fund. I'd like to get my money back and then let it grow.

In my EA there is still one mistake I'm aware of but I have to find a way how to fix it. I could be about 4% up but I still don't know how to fix this error. It's a challenge for following weeks. I had always been against EAs as I was too afraid of it. It could be a good way nowadays. I'm looking forward to next weeks, months and years. I'm aware it may take years to succeed and one stupid mistake can be very expensive. It is a reason why money should be withdrawn regurarly. Money in trading account is not money made but money in a risk.

Money made in forex will be moved to stock shares, real estates and others products. Looking one step forward, I hope results next week will be positive...
Lose small, win BIG
  • #34
  • Nov 16, 2014 10:16pm Nov 16, 2014 10:16pm
Quoting ProsteJa
Is trading the right business for you? Many people start trading because they read how much money can be made in markets. And that's it. Do you know how much money can be made when you are good app developer, cook, writer, dancer, singer... Is it enough to start this business? It's not such a thing as easy made money. People think so because they can see so many people suceeded in this field. What they don't see are millions persons who didn't achieved their success in the market (or any other field). It is the same as say actors make a shitload...
I agree with you.
not everyone is suit to trading, like any other profession it require lots lots of study, practice, experiencing failure, etc etc

can i answer your question with : ' I Love the market and want to make money out of it"
hahaha...

thanks for your post ProsteJa.
Maura Zaky Putri Fadhin
  • #35
  • Nov 17, 2014 11:49am Nov 17, 2014 11:49am
Quoting azmoeth
{quote} I agree with you. not everyone is suit to trading, like any other profession it require lots lots of study, practice, experiencing failure, etc etc can i answer your question with : ' I Love the market and want to make money out of it" hahaha... thanks for your post ProsteJa.

That's pretty good reason why to trade. Just keep learning and everything gonna be alright
Lose small, win BIG
  • #36
  • Nov 17, 2014 12:42pm Nov 17, 2014 12:42pm
Quoting azmoeth
{quote} I agree with you. not everyone is suit to trading, like any other profession it require lots lots of study, practice, experiencing failure, etc etc can i answer your question with : ' I Love the market and want to make money out of it" hahaha... thanks for your post ProsteJa.
Yeah, probably market needs dedication, or even requires it. If the purpose of your engagement is only money then you are condemned for a big fail. I say dedication because it particularly this mood produces patience in a considerable degree, lack of which might be considered as prime and paramount obstacle for any trader. Getting fun at first and only money then.
  • #37
  • Nov 23, 2014 12:36pm Nov 23, 2014 12:36pm
Add or remove?

I had an interesting discussion with friend of mine. We were discussing politics and official education and many other stuff for hours. He told me an amazing short story from somewhere (no idea where), let me tell you it with my own words (would be better in slovak but i'll do my best to translate into english).

Michelangelo was asked how he could create so amazing sculpture (David). He replied: It was very simple. I've just removed all unnecessary stone which was not David...

Nowadays we try hard to add and we forget removing unnecessary material. Sometimes the best thing can be done by removing and not by adding...

Do you use any unnecessary indicator? Do you have too much money on your trading account which could be used differently (not using leverage properly)? Have you asked yourself how you could you simplify your trading, your life? ...

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_269.png Size: 812 KB

http://www.museumsinflorence.com/mus...helangelo.html

Lose small, win BIG
  • #38
  • Nov 30, 2014 11:39pm Nov 30, 2014 11:39pm
yess,
I've heard that kind of story too..he says, if you want something , get rid off things you dont want, sell them, throw them to make a room for that something you really want.

great!!
Maura Zaky Putri Fadhin
  • #39
  • Dec 7, 2014 1:22pm Dec 7, 2014 1:22pm
Quoting azmoeth
yess, I've heard that kind of story too..he says, if you want something , get rid off things you dont want, sell them, throw them to make a room for that something you really want. great!!
That's the point. Today I have completed e-mail for profesor from university who fired me. The longest and most grateful e-mail I've ever written to somebody. Sometimes help from outside is needed

Hope you're doing well
Lose small, win BIG
  • #40
  • Last Post: Dec 7, 2014 8:16pm Dec 7, 2014 8:16pm
Quoting ProsteJa
{quote} That's the point. Today I have completed e-mail for profesor from university who fired me. The longest and most grateful e-mail I've ever written to somebody. Sometimes help from outside is needed Hope you're doing well
thats true friend...

one motivated either by love or hate wish we all have that from love.

hope we both keep doing well
Maura Zaky Putri Fadhin
0 traders viewing now