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Forex as a Future?

  • #221
  • May 17, 2016 8:58am May 17, 2016 8:58am
Quoting JoeNY
You want a piece of advice? Follow Vasily and don't hate. Try and figure out what he or she is doing. He or she is sharing more than I would ever. But hey, don't listen to me another dumb ass demo trader. Choice is yours. The quotes posted from the member are worth a read if that's all you get from them. Good luck.... My favorite... Never jump in front of a moving train... Swollen Pockets 4Ever! {quote}
LOL

And yes.
Is with quotes you will win the forex battle ... the missing piece.

I'm waiting for the next webinar about quotes ... get me a ticket, please.
  • #222
  • May 17, 2016 8:59am May 17, 2016 8:59am
Good Luck SeaHorse...... JoeNY... Out..


Quoting seahorse
{quote} LOL And yes. Is with quotes you will win the forex battle ... the missing piece. I'm waiting for the next webinar about quotes
SPC * Swollen PocketZ Crew!
  • #223
  • May 17, 2016 9:02am May 17, 2016 9:02am
Quoting JoeNY
Good Luck SeaHorse...... JoeNY... Out.. {quote}
All the best for you too Joe $$
  • #224
  • May 17, 2016 9:11am May 17, 2016 9:11am
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  • #225
  • Edited 9:36am May 17, 2016 9:12am | Edited 9:36am
Quoting Atokys
{quote} its just that the access to high leverage and the ability to trade on a shoestring account attracts the worst of the investing public; the reckless, the stupid, the gamblers and the desperate. Positions in currencies take up less than 30% of my total market exposure and a far lesser percentage of my total portfolio value...

So which one are you ?.....the reckless, the stupid, the gambler or the desperate?....or is there a 5th category that you forgot to mention, where sensible investors like you would risk a whopping 30% of their total market exposure in Retail Forex?
  • #226
  • Edited 9:57am May 17, 2016 9:40am | Edited 9:57am
Quoting GibsonL6
So which one are you ?.....the reckless, the stupid, the gambler or the desperate?
Calm down friend. No need to take things personally.

I know I really shouldn't have expected any better from someone who spent "thousands of hours" just to realize what the average layperson has always known about leveraged trading. Sorry I overestimated you.

Oh, heres a smiley.
Quoting GibsonL6
or is there a 5th category that you forgot to mention, where sensible investors like you would risk a whopping 30% of their total market exposure in Retail Forex?
Is that risky? How would you even gauge considering that I did not provide the percentage of equity at risk that constitutes total market exposure?

30% of a total market exposure of, lets just say, 10% of portfolio value is a WHOPPING 3% of equity at risk.

How about trade size? 3% risked on what? 1 pip? 1 average daily range? 10 average daily ranges?

You simply cannot draw any conclusion without these pertinent details that I have intentionally left out.

If you think you can then... well.. your "Thousands Of Hours" are really showing here.
  • #227
  • May 17, 2016 9:48am May 17, 2016 9:48am
Quoting Atokys
{quote} Calm down friend. No need to take things personally. I know I really shouldn't have expected any better from someone who spent "thousands of hours" just to realize what the average layperson has always known about leveraged trading. Sorry I overestimated you. Oh, heres a smiley.


No probs Mr Atokys..Lol.......Nothing personal taken...Just trying to make sense of why a well articulated, knowledgeable person like yourself, would even touch Forex.
  • #228
  • Edited 10:08am May 17, 2016 9:57am | Edited 10:08am
Quoting GibsonL6
Its been 4 years or so since I traded FX, and I don't regret leaving this make believe world for one second. After spending thousands of hours studying/ learning all the ins and outs, I came to the conclusion that the only ones making money are the Brokers and System sellers. With the advent of the internet, retail forex was made available to the general public by brokers who saw an opportunity to tap into a fresh market...a nice easy market where money would come as easy as taking candy from a baby. Then came the system sellers ...another easy...
I have only read the first phrases of your main post and I could continue reading because you have so many prejudgements even if you spent 4 years trading, to tell you the truth, when this field of investment need a fresh/openly mind. Even so, I want to ask some questions:

1) Have you respected strictly a set of rules when trading?
2) Have you thought about the fact that the majority of the books and whole Forex culture could be misleading, truncated, inexact, and start getting your own perspective based on pure observation?
  • #229
  • May 17, 2016 10:11am May 17, 2016 10:11am
Just my two cents here. I copy and pasted this from two threads I started that I would like to share here.

I’m going to share with you the secret to trading the market. The “holy grail” to trading is a thorough understanding of the daily timeframe, position sizing, probabilities (risk:reward), patience/discipline, access to capital, and a trading system that you become fully proficient in that exploits all the factors mentioned above to give you the so-called market edge. We have become fixated to overtrade, over-leverage, and overanalyze the market in a false belief that the more we trade, the more we make. We soon start to come to the realization that this is far from the truth. We all fund a $100 account to start and should risk $1 max when we see an opportunity to make +$2 in a high probability setup. But $2 doesn’t do it for us and we begin to set ourselves up for failure. Look at the bigger picture, if you had $100,000 in capital that $2 return becomes a $2,000 return with the same setup. Guess what, if you only traded two successful high-probability setups in a month that still makes you a profitable trader. The problem is that two trades in a month with a $100 account won’t cut it. Sitting on the sidelines warming up the bench in this game is a victory in itself, it means you have the patience and discipline to follow your trading plan. However, we are not wire to think like this and most of us will not listen to this sound advice and proceed to be humbled by the market anyway.
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The fluctuations that are of regular occurrence seen in the market is a constant battle between the buyers and sellers to take control and is just part of the game and therefore should be anticipated in each trade. You must understand that you need to stop trying to time the market at the exact time a top or bottom will happen. Hindsight makes this approach seem ideal but the big problem with this is that hindsight does not make you money. We can all successfully pick these ideal zones after the fact, but how many of us are consistently really making money? I rest my case. How do we counteract the effect of these fluctuations that destroy the psychology of traders? The answer is the correct usage of a stop- loss, position sizing, and pending orders. We are all greedy by human nature and adjust our stop loss to meet our larger lot size (positioning) inside the killing zone of the market (normal fluctuations). Instead, adjust your position size to meet a stop loss that gives the trade the room it needs to play out that if in fact gets trigger confirms your analysis was outright wrong. Use a position size & stop-loss combination that meets the 1-2% risk bracket and a pending order that gives you a better entry and more importantly lets you walk away from the monitors. Micromanaging the market fluctuations is detrimental to your well-being and truly halts your development as a trader. Do not risk money that determines if the rent will be paid this month and focus instead on becoming proficient in a proven strategy. Also focus on acquiring capital, if that means getting a second job or cutting back on eating out largely depends on your individual circumstances, but once your proficiency meets available cash, it will be all worth it. You need the right mindset and practice “perfect practice” because if you don’t, I guaranteed you the market will gladly begin take your money away. Hope you enjoyed this read and learned from it.
  • #230
  • May 17, 2016 10:16am May 17, 2016 10:16am
Quoting Atokys
{quote} average layperson has always known about leveraged trading.
I'm not sure what you mean by this. I have always had the highest leverage my broker will allow and that suits me fine. There would be very few people trading without leverage because it would be a bit silly to have so much money tied up with a broker who is in reality a total stranger.

I know a guy who deposited $100,000 with a broker and never saw it again, it vanished with the broker.

I only ever trade with the markets money. That is I put some in, make a profit and take mine out so I am trading free and clear.

There is no point in having a huge account unless you are going to trade a huge amount. Better to keep your capital in your bank rather than the brokers, I wonder how much they make on the interest with the millions deposited with them.

No I like leverage and fully realize it is a two edged sword so I simply take the appropriate measures to limit the risk.
  • #231
  • May 17, 2016 10:18am May 17, 2016 10:18am
such a negative thread, arguing over weather traders can make money consistently. Funny! But also discouraging for some. Why so much negativity ?

Understanding the market is not rocket science, is the first key to over come the battle!
Learn, a forex trader must, unlearn and relearn he will.
  • #232
  • May 17, 2016 10:20am May 17, 2016 10:20am
Quoting COGSx86
such a negative thread, arguing over weather traders can make money consistently. Funny! But also discouraging for some. Why so much negativity ? Understanding the market is not rocket science, is the first key to over come the battle!
When you say negativity ... I prefer to say reality
  • #233
  • May 17, 2016 10:26am May 17, 2016 10:26am
Quoting seahorse
{quote} When you say negativity ... I prefer to say reality
No offense but when you say "reality" actually means that you are not well prepared for this task, unfortunately.
  • #234
  • May 17, 2016 10:45am May 17, 2016 10:45am
Quoting diavolul
{quote} No offense but when you say "reality" actually means that you are not well prepared for this task, unfortunately.
If you say so ... who am I to tell you the contrary
  • #235
  • May 17, 2016 10:49am May 17, 2016 10:49am
Quoting GibsonL6
{quote} This is the best written post, I have ever seen on the reality of FX !!
Really?

No offense to you or hudithepfupf but the problem I see with trading statistics in Forex is that they're all too often quoted outside of the context of the actual trading method(s) or charts.

I originally took the time to post a response to you that has been ignored. Perhaps you didn't see it? I'll recap. Beyond the assertion of your first statement, the only evidence of your trading style that I could see was a series of charts that suggest you paid a chap called "strat" for his method and then attempted to trade the market using his vernacular, which in my eyes equates to trying to see the market through his eyes. I've said this a thousand times and I'll say it again - we can't and never will be able to trade vicariously.

Beyond reference to strat there's not a single mention of how you tried to trade the market. If you'd said "I've been trading momentum crossovers", I'd have responded, yep it doesn't surprise me that when you eventually clipped in a profit you headed for the hills. Similarly, if you'd have said that you've been picking tops and bottoms without reading PA for confirmation, I'd have said the same. You know, it staggers me how many traders claim to trade support and resistance (for example) and yet when one asks them to articulate what support and resistance is, they can't. There's no harm in this btw, for those on the journey - I've done it myself a thousand times, been there, got the T-shirt etc etc. But on the flip side, those who can't, haven't or won't articulate what they did, and then tell the world it can't be done... Goodness me. It's so beyond the beyond, it's asinine.
  • #236
  • May 17, 2016 11:02am May 17, 2016 11:02am
Quoting COGSx86
such a negative thread, arguing over weather traders can make money consistently. Funny! But also discouraging for some. Why so much negativity ? Understanding the market is not rocket science, is the first key to over come the battle!
Try to explain it to others and you will find it very difficult.

Best
D.P.
Hunting High and Low
  • #237
  • May 17, 2016 11:43am May 17, 2016 11:43am
Quoting Dr.Phoenix
{quote} Try to explain it to others and you will find it very difficult. Best D.P.
understanding market is very very very very very dificoult until you understand it.after that you cant forget it

"In this wall there is an object, it will take a while to see it, but once you see it, you won't be able to look at the picture without seeing it"

understanding is dificult but the structure behind is so easy cuz its under nobodys control.and you have 2 directions to go.black or red
and understading it dont mean that you can make 100% winers.risk and reward is diferent topic

no one can take all control of market and make it ultra complicated.never possible
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  • #238
  • Edited 2:18pm May 17, 2016 12:12pm | Edited 2:18pm
Quoting simond2002
{quote} Really? No offense to you or hudithepfupf but the problem I see with trading statistics in Forex is that they're all too often quoted outside of the context of the actual trading method(s) or charts. I originally took the time to post a response to you that has been ignored. Perhaps you didn't see it? I'll recap. Beyond the assertion of your first statement, the only evidence of your trading style that I could see was a series of charts that suggest you paid a chap called "strat" for his method and then attempted to trade the market using...
No offence taken...If anything this thread has created a lot of interesting opinions..Lol..

Yes...Without getting into all the details( which I can't remember, or even care to remember from 4 years ago)...I traded Strat's method, and adjusted it to my own style.. simple, yet seemed to be effective .....And as far as I'm concerned, its just as good as any other method out there, or any self-made method.... The whole point I'm trying to make is.....It doesn't matter if you are the best, most disciplined, knowledgeable trader there is....And even if there was a remote chance that you could possibly beat the odds.....".Its simply not worth the time/effort or Risk....to invests in something that the likely outcome will be ZERO or WORSE.

Hudithepfupf post is very real and share my thoughts exactly!....He just explained it much better than I could..Lol..
  • #239
  • May 17, 2016 12:18pm May 17, 2016 12:18pm
Quoting vasily
{quote} understanding market is very very very very very dificoult until you understand it.after that you cant forget it "In this wall there is an object, it will take a while to see it, but once you see it, you won't be able to look at the picture without seeing it" understanding is dificult but the structure behind is so easy cuz its under nobodys control.and you have 2 directions to go.black or red and understading it dont mean that you can make 100% winers.risk and reward is diferent topic no one can take all control of market and make...
Yes, but understanding the nature of market will not guarantee anything.

Quoting vasily
{quote}"In this wall there is an object, it will take a while to see it, but once you see it, you won't be able to look at the picture without seeing it"
It is easy to find the object, unfocus your eyes and then focus them in the middle of the picture.

You will find a cigar.

But yes, having known the knowledge, you will never be the same.

Quoting vasily
{quote}...understading it dont mean that you can make 100% winers.risk and reward is diferent topic no one can take all control of market and make it ultra complicated.never possible {image}
there is no need to control the market, it is impossible.

You should find a probability advantage, i.e. the statistically significant advantage.
As soon as you find it, you should get in the market and jump out of it at the right moment.
Yes, it is very difficult since one wants more and more, and more, and more... and one loses everything.

Best
D.P.
Hunting High and Low
  • #240
  • Edited 12:58pm May 17, 2016 12:37pm | Edited 12:58pm
Quoting simond2002
{quote} It's so beyond the beyond, it's asinine.
I had to look that one up..it sounded dangerous..Lol..
Many people changed the world, who other people thought were asinine....Who knows, I may even change the forex world by being asinine, but I doubt it..
But I think FX traders can also be labelled as asinine....My self included, when I was trading...but I was wise enough to get out...

And to answer another one of your questions...No , I did not pay any subscriptions to Strat..
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