How has your mental understanding of Forex changed over time? - Page 2
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  1. #11
    Join Date
    Dec 2006
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    Wichita Falls, TX
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    2,904
    Quote Originally Posted by StavFX View Post
    just because you do not know about it, does not mean the information is not out there to be learnt.
    Again, I disagree. There is certain information out there that I will never be able to gain access to. It is private information those who have won't share. For example, a bank's trading "book". More broadly, actual aggregate trading volumes.

    That said, it isn't necessarily information I need to trade. It might make things easier, but I can trade without it, and do so effectively, if I recognize my information limitation.

  2. #12
    Join Date
    May 2013
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    312
    For the vast majority of people FX trading has and will continually proven to be a mugs game.

  3. #13
    Join Date
    Sep 2008
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    40
    Quote Originally Posted by Jezzode View Post
    Good for you - you should be teaching the institutional traders then at the likes of City Bank and Goldman...

    Oh dear... must we really go here again

    Here is a fun fact - If you have been trading for 14 years and make 10% per month on average as a minimum [as you have stated] and you started with a TINY $100 account [my guess is that it was certainly more], do you have any idea how much that would be worth, assuming we compound at each month end?

    $900,000,000

    (of course you could argue that income tax needs taking into account - but with this size of profit i'm more than sure that any sensible trader would move off shore to a zero tax haven)

    And instead you're rather here, batting around unjustified, misleading comments to new traders who want real advice from rational real traders. But don't believe me, the returns of retail traders are public information, easily accessible through the likes of the FCA and other financial authorities [admittedly sample data of real accounts, but significant enough to draw conclusions from for proposal papers] . It's not a lie, it's facts



    This may hold some validity - but please, stay realistic here. There is a fine line in beleiveing what is rational and what is highly irrational.



    This is not true at all, indicators where historically created to understand the securities of which they adapted to, by proven mathematicians - not by salesmen. This comment made me laugh. It is true that they are being increasingly used in todays day and age for sales tactics; however that should not be taken away from their true meaning, again they are still used by many successful traders [retail & institutional - across the board of FX, Stocks & Commodities]



    Cant disagree here, although these random entry studies were net of spread - if you were to include spread then they would not be profitable as trading is a zero sum game - think about this for a moment, perhaps?



    It's certainly one of the Keys, not much use if you don't have a structured trade plan with a proven positive expectancy.



    No, an edge is most certainly quantifiable - how do you suspect trading algorithms work?



    Not much context provided here, perhaps you could expand?



    Yes, there certainly is a lot of misguided information available that new traders take as the truth. Deciphering this into useful information is highly time consuming.



    Experienced traders tend to be rational when discussing expectancy - after 14 years you should know this?



    Questionable, i'd personally say it is a science. Coming back to institutional trading algorithms, these are most certainly not an Art - they are quantified, mathematically proven systematic entry criteria. I don't know about you, but the successful traders that I know do not paint over their charts in the hope to become the next Picasso


    Finally, something we can all agree on?

    I don't want to come across as an obnoxious ars*hole - however when providing advice such as your above comments can we please try and be correct, or at the very least realistic. This forum is full of people dropping by, people who smash comments down with no real effort and this is taken as 'truth' by the people who are here to learn.

    you are entitled to you opinion. and draw what ever conclusion's you like... your reply to my post just quantifies my post. and those of the "have nots" and "never will"..

  4. #14
    Join Date
    Sep 2010
    Location
    Cheshire, UK
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    Absolutely, and that's what forums are for - discussing opinions, regardless of what's said.

    your reply to my post just quantifies my post. and those of the "have nots" and "never will"
    I most definitely have not got $900,000,000; and I can guarantee you that I never will either!

    Pushing that to one side though - just get your facts straight first before making yourself look silly.

  5. #15
    Join Date
    Sep 2010
    Location
    Cheshire, UK
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    Quote Originally Posted by ropunzel View Post
    For the vast majority of people FX trading has and will continually proven to be a mugs game.
    Agreed, although I wouldn't perhaps call them 'mugs', perhaps under prepared and delusional at times.

  6. #16
    Join Date
    Apr 2017
    Posts
    12
    Quote Originally Posted by rhodytrader View Post
    Again, I disagree. There is certain information out there that I will never be able to gain access to. It is private information those who have won't share. For example, a bank's trading "book". More broadly, actual aggregate trading volumes.

    That said, it isn't necessarily information I need to trade. It might make things easier, but I can trade without it, and do so effectively, if I recognize my information limitation.
    yes ofcourse you as a retail trader will not have access to banks private details..obviously.

    that is not required to be a successful trader lol.

  7. #17
    Join Date
    Apr 2017
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    12
    Quote Originally Posted by Jezzode View Post
    Absolutely, and that's what forums are for - discussing opinions, regardless of what's said.



    I most definitely have not got $900,000,000; and I can guarantee you that I never will either!

    Pushing that to one side though - just get your facts straight first before making yourself look silly.
    don't sell yourself short!

    set yourself that target of 900,000,000 !!!!


  8. #18
    Join Date
    Sep 2010
    Location
    Cheshire, UK
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    2,210
    Quote Originally Posted by StavFX View Post
    don't sell yourself short!

    set yourself that target of 900,000,000 !!!!

    Haha, now wouldn't that be a treat

    My gosh, the things one could do...

  9. #19
    I use to jump around testing and trying out different strategies and trading styles. Also trying to copy somebody else's style identically. This was resulting in very bad trading performance, so what I changed was... choose a strategy and STICK with it for good period of time so you allow it's edge to play out.

    Also, I stopped trying to copy other people's trading styles and decided to develop my very own which may have been made up of trading styles from several different traders. So to summarize, dont jump around from strategy to strategy hoping the next one will be better. Give it time (6+ months) and enable it's edge to play out. And focus developing your OWN trading style and don't try copy somebody else 100% as everybody has a different personality.

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