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A Million ways to make Money!

  • #81
  • Jul 2, 2011 7:57pm Jul 2, 2011 7:57pm
Quoting newyear498
nice trade you took.. talk about risk to reward.. rinse wash repeat
TY, but time will tell where the trade will end, could even be BE on all three.



Dan
  • #82
  • Apr 5, 2015 2:30pm Apr 5, 2015 2:30pm
intresting
  • #83
  • Apr 6, 2015 5:44am Apr 6, 2015 5:44am
Totally agreed with the first post. It's all about psychology,everything else is learnable.
  • #84
  • Jun 11, 2015 11:41am Jun 11, 2015 11:41am
So much true in this post.

When i see myself talking like CrucialPoint ( even with myself ) i know i see in the markets
something most others do not see ( i want to think so ).

When i see how price behaves to some patterns, which i havent seen anywhere in the forums ( it doesnt mean they are not somewhere ),
i really think there is something more above all the prices and s/r, etc.. Someone is saying where to go.. or its just nature (?), which is seen only in the moment when You have right set up.


Perhaps i will not understand what i wrote after i will reread it, but for sure i understand what i wrote in the time i wrote this

Tom



Quoting CrucialPoint
{quote} Here is my analogy between Professional traders versus Amateur traders. An amateur can only see limited things. Just like an Amateur painter when painting a vase. They can only see limited colors, and this is reflected through their work. The Amateur canvas would look like this picture below: {image} Now a Professional trader can see what the amateur cannot see. Just like a Professional painter can see millions of shadings and colors. They can see millions of colors, and this is reflected through their work. The Professional canvas would...
  • #85
  • Jun 14, 2015 8:59am Jun 14, 2015 8:59am
Quoting CrucialPoint
{quote} Here is my analogy between Professional traders versus Amateur traders. An amateur can only see limited things. Just like an Amateur painter when painting a vase. They can only see limited colors, and this is reflected through their work. The Amateur canvas would look like this picture below: {image} Now a Professional trader can see what the amateur cannot see. Just like a Professional painter can see millions of shadings and colors. They can see millions of colors, and this is reflected through their work. The Professional canvas would...

Saw that shark' mouth is to the left hand side of mine.
-milkeyway
  • #86
  • Jul 9, 2015 4:20pm Jul 9, 2015 4:20pm
Quoting nubcake
i'm tired of the arrogance. it doesn't help anyone. i'd personally like to take this opportunity to say hi to everyone who knows more than the rest of us. HI. yes you crap on us. yes you are great. would you like fries with that? would you like to supersize your order today? pseudo-help is not help, it's just stroking ego's. if anyone really wanted to help and weren't in it for the lulz they'd speak in a language that they know others would understand, instead of taking a perspective that they know only they and perhaps a few others would understand....
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #87
  • Jul 17, 2015 9:03pm Jul 17, 2015 9:03pm
Quoting CrucialPoint
"95% of the time price will close above or below the open."
That is true indeed!

  • #88
  • Jul 18, 2015 7:19am Jul 18, 2015 7:19am
100% of the time price will go up or down from the open.

Amateurs will never see the edge in this quote, unless I point it out where the edge lies within this quote.
  • #89
  • Jul 18, 2015 10:06am Jul 18, 2015 10:06am
That's right. A time ago I read something that said that there are 4 main areas in which one may acumulate wealth:

NYSE (and Forex of course)
Internet
Real State
Forgot the last one

The thing is that we live in a very good era that offer us many opportunities to become a wealthy individuals.

Cheers
  • #90
  • Jul 18, 2015 10:28am Jul 18, 2015 10:28am
Quoting bitpit
Totally agreed with the first post. It's all about psychology,everything else is learnable.
The question is how can you learn the proper trading psychology. It is the hardest thing of all, which is why so many books have been written about it. And for the same reason hedge funds employ psychologists for their top traders.

In my opinion it is USUALLY a "given thing": either you have it or don't, as it is emotion (fear/greed) based and it is burnt in the deepest "animal" part of the human brain.

Of course, with long practice one can override the emotions by the prefrontal cortex, however, it needs excessive and lengthy psychological training. Like secret agents and spies learn how to beat the lie detector. It takes time and lots of practice with real-time feedback.
  • #91
  • Edited 8:18am Oct 22, 2017 7:38am | Edited 8:18am
Quoting CrucialPoint
{quote} I would say that whatever the public has been taught about TA and FA are 90% BS. Nevertheless it will make you *some* money... but not enough money, to trade in your jocks in the pacific islands, drinking cocktails.
BS are your words too if you don't sustain what you say with a Trade Explorer.

Quoting bitpit
Totally agreed with the first post. It's all about psychology,everything else is learnable.

It's all about knowledge ! Once you get enough and right knowledge you will become surprised about how disciplined you are (because you begin to be profitable )

Quoting FxZurich
{quote} The question is how can you learn the proper trading psychology. It is the hardest thing of all, which is why so many books have been written about it.
Think about that : if you make money, do you need psychology training ? Is a non-sense. Psychology trading books are written to encourage mediocre traders after their fail, and of course, are written to earn ca$h from the selling of books activity .

When you have no Edge you invoke the excuse of psychological discipline.
Money moves the market, not an indicator.
  • #92
  • Nov 24, 2017 7:17am Nov 24, 2017 7:17am
Quoting andoseg2
{quote} BS are your words too if you don't sustain what you say with a Trade Explorer. {quote} It's all about knowledge ! Once you get enough and right knowledge you will become surprised about how disciplined you are (because you begin to be profitable ) {quote} Think about that : if you make money, do you need psychology training ? Is a non-sense. Psychology trading books are written to encourage mediocre traders after their fail, and of course, are written to earn ca$h from the selling of books activity . When you have no Edge you invoke...
1 Month later, but "When you have no Edge you invoke the excuse of psychological discipline." you are f**ing right
NaviHH
NaviManual All Time Return: 184.9%
  • #93
  • Jan 18, 2018 9:24am Jan 18, 2018 9:24am
Yes you are absolutely right. There are lots of ways to make money. I think every successful trader has his own way of making money. It's unique. Problem arises when we try to copy others. Or try to impose my strategy on others. Trading is a psychological game. Everyone has his own type of understanding and thinking. That's why 90% traders are loser.
  • #94
  • Jan 19, 2018 7:19am Jan 19, 2018 7:19am
Quoting andoseg2
{quote} BS are your words too if you don't sustain what you say with a Trade Explorer. {quote} It's all about knowledge ! Once you get enough and right knowledge you will become surprised about how disciplined you are (because you begin to be profitable ) {quote} Think about that : if you make money, do you need psychology training ? Is a non-sense. Psychology trading books are written to encourage mediocre traders after their fail, and of course, are written to earn ca$h from the selling of books activity . When you have no Edge you invoke...
Yes. You are right. It is the hardest thing to learn. I always say one thing. Just think you are not doing trading. You are doing any other business. And with (suppose) $10000 of capital, what would be your profit expectation in other business? Problem is with forex we become unrealistic very soon.
  • #95
  • Apr 17, 2018 2:32am Apr 17, 2018 2:32am
Quoting andoseg2
{quote} BS are your words too if you don't sustain what you say with a Trade Explorer. {quote}
It's all about knowledge ! Once you get enough and right knowledge you will become surprised about how disciplined you are (because you begin to be profitable )
{quote} Think about that : if you make money, do you need psychology training ? Is a non-sense. Psychology trading books are written to encourage mediocre traders after their fail, and of course, are written to earn ca$h from the selling of books activity .
When you have no...
[/b]

Simply Wow!!!

If you could guide us to the right knowledge, it's much appreciated.
  • #96
  • Apr 17, 2018 11:04am Apr 17, 2018 11:04am
Quoting vinforex7
{quote}[/b] Simply Wow!!! If you could guide us to the right knowledge, it's much appreciated.
Some hints :

https://www.forexfactory.com/showthread.php?t=691864

Happy learning!
Money moves the market, not an indicator.
  • #97
  • Apr 17, 2018 11:29am Apr 17, 2018 11:29am
That star and trend line from Crucial seems a very interesting concept.....
  • #98
  • Apr 17, 2018 10:43pm Apr 17, 2018 10:43pm
Quoting andoseg2
{quote} Some hints : https://www.forexfactory.com/showthread.php?t=691864 Happy learning!
Appreciate it. Thank you... will check out.
  • #99
  • May 6, 2018 5:42am May 6, 2018 5:42am
Quoting andoseg2
{quote} Some hints : https://www.forexfactory.com/showthread.php?t=691864 Happy learning!
It’s a very useful thread for the new traders; thanks a lot for adding this one here.
  • #100
  • May 31, 2018 2:50am May 31, 2018 2:50am
If we think that what works for others will work for us in the similar way, then we are absolutely wrong. Traders are different in their trading needs and they should adopt trading strategies according to their trading requirements. However, without use of right trading method no one can ensure successful journey. And yes, traders should adopt appropriate trading styles that best suits to their needs. They must determine which currency pairs are best for them, which time frames are most appropriate, how they can be able to minimize risks as per their boundaries.
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