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  • #21
  • Edited 11:51am Dec 19, 2015 11:39am | Edited 11:51am
Quoting feline207
{quote} The market moves in the direction that will cause the most financial benefit to the most accounts.
You will notice this type of news quite often:

http://uk.reuters.com/article/usa-st...13Y2FO20151209

"the market went up (or down) on profit taking" -- or something similar.

Anyone reading this "news" on a regular basis would start to believe that every trader Joe and his cousin are making money ..
It's a lie.
The real news in every case is actually: "the market went up (or down) ON LOSS TAKING"
  • #22
  • Dec 19, 2015 1:34pm Dec 19, 2015 1:34pm
Quoting Mingary
{quote} You will notice this type of news quite often: http://uk.reuters.com/article/usa-st...13Y2FO20151209 "the market went up (or down) on profit taking" -- or something similar. Anyone reading this "news" on a regular basis would start to believe that every trader Joe and his cousin are making money .. It's a lie. The real news in every case is actually: "the market went up (or down) ON LOSS TAKING"
The fact that close to 100% of retailers are losers does not make your assumption right. But you are right about one thing - those shitty articles are just about everywhere and they bring the wrong thoughts.
  • #23
  • Dec 19, 2015 4:33pm Dec 19, 2015 4:33pm
Although there are many nuances to trading, when you get right down to it, the best way to become consistent is to keep things simple. For me, I start my trading week on Sunday morning. I'll go to Forex Factory and look at the upcoming calendar (and print it out) for the week and note any major news announcements. Then I'll scroll through the larger timeframes to get an idea of where they are and where they might be going and WRITE DOWN my thoughts so that I don't forget what I was thinking. After that, it's just a matter of following your system and keeping things simple throughout the week. Don't let others influence your decision because chances are, your gut will tell you the right thing to do.
  • #24
  • Dec 20, 2015 2:50am Dec 20, 2015 2:50am
Quoting feline207
{quote} The fact that close to 100% of retailers are losers does not make your assumption right. But you are right about one thing - those shitty articles are just about everywhere and they bring the wrong thoughts.

Since close to 100% of retailers are losers, then the assumption "the market moves to cause the maximum financial damage to the greatest number of accounts", is in fact, correct.
  • #25
  • Dec 20, 2015 4:08pm Dec 20, 2015 4:08pm
Quoting Mingary
{quote} Since close to 100% of retailers are losers, then the assumption "the market moves to cause the maximum financial damage to the greatest number of accounts", is in fact, correct.
You have to rethink that
  • #26
  • Dec 21, 2015 6:14am Dec 21, 2015 6:14am
​Friends, when I read the comments posted on these threads I often wonder if these forums have any value at all. Rather than trying to be truly helpful to those traders who are struggling, and there are many, a lot of folks post silly and often offensive comments here, thereby wasting everybody's time. Be one of those who have something to say, rather than one who has to say something.
  • #27
  • Last Post: Dec 21, 2015 7:22am Dec 21, 2015 7:22am
Quoting forex_fairy
Ok follow the trend...
There you go, you just provided the secret to profitability and the answer to all your woes.

I don't see why you are still struggling if you just follow trends and manage risk.
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