Ok old man, if you're so smart teach us something





Hello Truth (Seems a strange but very comforting thing to say! Truth is so rare to find nowadays (if it ever actually was in any kind of abundance), especially in the field of forex Trading, that it is like finding an oasis in a desert whenever one occasionally stumbles across Truth).

Are you intending this thread as a blog style recording of your thoughts and experiences or are we welcome to respond as well? I apologise for intruding if this is your blog.

Personally, I am extremely interested to hear more from you. I am intrigued to explore the experiences of someone who has traded for 50 yrs and is still here. Experience that goes back beyond mobiles and electronic charting and order placing - even beyond Windows and the Internet???

You have a huge wealth of extremely useful and valuable experience that is very difficult to find. I, for one, am very interested in digging out the diamonds and nuggets embedded in your trading history and I can only hope that you will allow me to explore it…may those with ears listen in here.



I am interested in anything that you post here that is based on your own experience and that is the result of your many years of developing your trading approach, methods and strategies, etc.

Two areas that would particularly interest me are:

  1. How to build a personal trading model from scratch. Nowadays, platforms tend to make it too easy to put together a bunch of indicators that create a current “best fit” method without requiring any understanding of what the indicators actually are and how they are constructed (e.g. Ichimoku, MACD, Stochastics). I think this is very dangerous for Newbies since market movements and characteristics change over time and a “bunch of lines” is soon going to be out of synch and the Newbie does not know why. This leads to a state of jumping from one model to another.

You have clearly developed your trading approach over a long time and have certainly seen - and survived - many changes in market behaviours during your career. How do you suggest a Newbie can build a model that is robustly reliable but also flexible enough to react to such changes? This can cover approaches based on fundamentals, price action,technical indicators as well as choice of suitable commodities and timeframes. I just think that if insufficient work is put into these basic issues then success is very unlikely.

  1. This issue is a personal one and probably many, including yourself will disagree. There are current threads that deal with the continuing debate over how much should a trader try to make and whether it should be in pips or percents, etc. I think, especially for a Newbie, this is a totally wrong issue to be concerned with at all in the beginning. Firstly I think the concept of measuring success in terms of percentage of account balance is totally meaningless and entirely incomparable between traders, let alone as a performance benchmark. The amount a trader keeps in their account (above a necessary minimum) is entirely arbitrary and in fact most of the funds are passive and not even active in the earning process as with, eg, a bank account.

Personally, I think it is far more important for a (new) trader to concentrate on understanding and evaluating their risk exposure and money management. If these are based on solid principles and applied to a sensible trading approach then [I]consistent [/I]success is far more likely.

In addition, percentage results are as much (or maybe even more) a result of the markets’ activity as the trader’s own proficiency. One long clear trend can produce a vastly increased percent return than a price range in summertime doldrums. One can only get what the market gives and I think traders should have an entirely different understanding of “earnings” than “percent per month”.

These are only some thoughts, and I look forward to reading more from you here.

PS I would also like to hear more of your personal history - which country you trade from, what you trade, your trading history etc e.g. have you always been a sole trader or have you been in the industry, etc. etc…



Oh dear! Looks like I’ve managed to kill off yet another thread here. Really sorry …:frowning:

No worries… its not your fault. Usually the great ones won’t share their trade secret that easily. They most probably went thru tough times to discover their trading strategies. Its just that only the ones that have some sort of affinity may learn from him. My gut feel is that he is some sort of a legendary trading figure

My gut says he was searching for minions lol

And @Manxx, I thought thread killer was my title!!!

Maybe you’re right, but I wasn’t asking [I][B]what [/B][/I]are his trading strategies (I already have one that suits me). I wanted to encourage his thoughts on [I][B]how [/B][/I]Newbies should approach developing their [I][B]own [/B][/I]strategies instead of just randomly looking round the net for one that sounds good and promises good without even understanding what it actually is - and ending up jumping from one method to another and loosing all the way. This is surely a personal development process for each trader, and i just thought someone with 50 yrs of experience would have lot to say about this! Seems not!
But why start a thread offering to teach and then delete it because someone happens to be interested??

On the contrary, Bob, you seem capable of generating a lot of response and have a great ability of cutting straight to the heart of the matter. I have put too many threads into their graves to dare speak anymore! :smiley:

It is a personal trait of mine. If you ever feel you missed your entry in a really fast-moving market let me know and I will enter a trade in the same direction - it is guaranteed to immediately screech to a stop and reverse back to where you wanted it :smiley: :smiley:

Not your fault manxx,

he probably had a rough time the last 3 months since no decent movements anywhere which were not conected to retarded news like brexit and trumpaction. was a bad environment to trade and maybe he got some losses and is questioning himself and his career right now. tried to see what the “young people” are up to, found this page and realised how much of missguiding it is to new people and had a 5 minutes spark of beeing the helping hand.

when he realized he is waisting his time he stopped and retreated.

happens often.

you should have challanged him and tickling hes ego (in not positive way) instead of going with him and supporting him to say something. that usually works in such situations. supportive talk doesnt work with successfull people, they feel beeing fooled - given that he was ever succesffull of course.

Not at all … perhaps it’s something of an accolade, if anything, to be the last poster: it means there’s “no more to be said”! :smiley:

Wow! that’s far too deep for a simple soul like me! :slight_smile: I have never really understood people at all, maybe that’s why I am such a recluse outside of trading!

I have only just realised that Truth has deleted his posts from other threads as well. His posts [I]were [/I]somewhat “grumpy” towards other postings, although no one specifically, so maybe someone complained and he got a warning about it? - and got annoyed about that? If so, that is a sad situation and a big loss to this site. That kind of experience is invaluable and few people are prepared to share it - mind you, it all seemed to fall on deaf ears here anyway judging by the total lack of interest from anyone else here (which doesn’t surprise me one bit)…

I do not understand this situation at all. Every single day there are newcomers here craving help and advice as they start their new journeys’ into the world of forex - and yet not a single one grasps at the chance to pick the brains and experiences of such a mature trader…as you know, I have personally been trading a long time, but I was [I]still [/I]deeply interested in conversing with Truth and drawing out some useful thoughts and ideas. There is [I]always [/I]so much to learn and share in this industry, where there is no hierarchy, no class, no racism - just success and failure and what we learn from them.

But this time the opportunity is lost… :frowning:

Hmm, I always sensed we had something in common … :33:

Really? I hadn’t noticed this yet. That’s a great shame. I’d been thinking what an asset he is to the forum (and wondering why I’d barely noticed him before) …

Indeed … just so.

If truth deleted his post why cant we see his post before he edited it to … ??? Is truth some babypip administrator?
how do you even delete a post?

you open your post and press delete - rather complex


Ya right… Very Funny

haha - you asked the question!

Interesting thread