Very well said palabara!
..
How many dollars do I have to lose to experience a margin close-out 19 replies
Why you lose money and will always lose 31 replies
I Finally have figured Forex out. Need help programming EA 3 replies
Soros said he's got it all figured out 12 replies
Disliked{quote} this is all I do, wlel this and I have my 3D art hobby, but I do that just for fun, I also study science, and chemistry but that's so I can keepIgnored
DislikedWant to add that. I'm not trying to bash or put anyone down.. whoever has their own ways of measuring "success" by becoming rich or mega rich or.. whatever. Its good, but its not my cup of tea. I've started with goals like that in mind, but over the years learned whats more feasible to achieve. I trade full time, plain and simply, because I'm tired of working for other people. I don't want to be away from my family all the time. I get to put in work and effort into this, and it pays off. Its an awesome alternative. My bottom line is the reason,...Ignored
Disliked{quote} Great post! The 3D art as well as other studies caught my eye too.Ignored
Disliked{quote} this post is worthy of the attention it's getting...AWESOME stuff Palabara!! He's 100% right. If you've ever built a business from the ground up, his words are 100% true and you know it. If you never have, this might read as just meaningless banter. If you're in the latter camp, read it over and over until you catch what he's saying. He is SPOT ON regarding smaller, achievable goals. The guys that hop on FF and talk about going from rags this month to riches next month are only showing their emotional attachment with money....and it usually...Ignored
Disliked{quote} Thanks I am on deviant art. a lot of my stuff is R rated lol, but I got into it because its amazing how much realism you can create in 3D work and started learning that, and its very involved to get really high realism need to learn how to manipulate light via this software like Poser and 3DS Max and I also use Octane. Its just fun to work on a project like that, and seeing as this gives me an ability to be creative by utilizing technology. I'll post one of my 3D creations on here which is not R rated. This is my Original Character...Ignored
Disliked{quote} LOL. It does. Ask many who were in that CHF trade few days ago.Ignored
Disliked{quote} I was simply responding to your false accusation of me being nave. No matter, when you know how to trade, you'll see. Best wishes to you.Ignored
Disliked{quote} I agree with others on this post Palabara; OUTSTANDING!! Newbies really need to read this.. I still work full time, so put only a couple hours a day into this gig, forex. I've been trading off and on since "07." My goal for success will be when I replace my income 100%+ from my current employment. I'm about a 1/3rd of the way there, but did not realize consistency for the realization of my goal until the last couple of years. I figured it would take me a year or two back in '07 to do it, well here we are in 2015 and I'm a third...Ignored
Dislikedbut if you have data infront of you -- could see that if I had my stoploss at 135 pips.. then in the last 4 years to current date out of 100 trades it would only get hit 40 times.. so 60 times it wouldn't get hit.. knowing that gives you an idea I will use this stoploss okay what about profit? so same thing.. how much on average does it go up or down or whatever so you say from this entry point it went this high this low etc.. calculate that and say okay 165 pips Take profit.. okay so if I had 55 trades that hit.. 165 and 45 trades that hit.. so...Ignored
DislikedAnd this is not "hypothetical" I spend more time on Excel then I do on the platform when all my birdies line up, I take the trade. I record all the data.. The trades were originally back tested to form this SL and TP are under EXACT same market conditions as real trades so how do you do it.Ignored
Dislikedpredicting fundamentals is impossible because a reaction don't mimic. Market decides based on reaction at the time of the eventIgnored
Dislikedbut we need that volatility because without it there is no where to go.. can't make money without movement. Its just not something we can measure, but if approaching Forex from A a business B a Scientific Method. I.E forma hypothesis, test it, replicate it, and do it all over again it can be done.Ignored
DislikedHow do you know that you aren't doing anything different than randomly buying and selling?
So where's your millions? If it was that easy, HFT would be all over it until it wasn't profitable anymore. HFT would place buys/sells within the millisecond of a chance of making pennies on the trade.Ignored
Disliked{quote} This is actually a good point. I take a picture of every trade I make, see what worked, what didnt work. I take a picture at multiple time periods too, and if there is any sudden movements on the 15 min chart I check for news releases. This way I can know why the price moved the way that it did, and from that I can determine if I was right or wrong.Ignored
DislikedEveryone knew ECB would print money. Very bearish. EURUSD broke an 8 year support level. If you went short at that moment, you would have end up making 1000 pips in 3-4 weeks. There is nothing random about that, its just following the trend. Even if ECB didnt print you would have pocketed 500 pips. You act like its impossible to make money, you do know there are macro firms for whom currency trading is their main source on income? You do know that the most profitable trade for hedge funds the past year was short yen long Nikkei, a trade any retail...Ignored
Disliked{quote} Where's your millions if you've been gaining 937.50 pips a month for 3 years? If I could go back at see that a ball on a roulette wheel landed on black 65 times and red 35 times for the last 100 spins doesn't mean that betting on black is a winning strategy. {quote} If you test enough strategies, you'll find a few that worked in a past. Just like the roulette wheel, it doesn't mean that they'll work in the future. {quote} Predicting where you think fundamentals are going is not impossible. The EUR/USD didn't just go from $1.39 to $1.13 for...Ignored
Disliked{quote} alright, I'll debate this with you. That's fine. 1st you've contradicted yourself. In one sense you say its random and then you said fundamentals can be easily predicted. "Predicting where you think fundamentals are going is not impossible. The EUR/USD didn't just go from $1.39 to $1.13 for no reason. " that's already a contradiction to your whole argument of it being random and throwing darts and all that jaaz.Ignored
Disliked2nd of all.. lets look at the "gambling" aspect.. Casino has 2 sides.. The House, and the gambler.. Someone wins/someone loses.. Forex has 2 sides.. So Someone wins so someone else has to lose.. The house of the casino wants the gambler to keep playing because they have 2% edge.. each game has its own edge but its small edge.. the longer the player plays the more the casino gets.. at the end casino gets it all and player has nothing.. Forex once again.. The longer you play with losing opponents the more money you accumulate. I'll be happy to post...Ignored
Disliked3rd where is my millions.. I don't have the gambler mentality.. What does that mean.. It means that I don't double up every trade to become mega rich.. I trade small.. I'm no whale.. and I don't double and triple and quadrupedal every time. That is once again gambler mentality.. That you keep compounding your money. So once again sorry to disappoint you, for not being that image that you think everyone is.Ignored