The Trader’s Arms has only been open 1 day and I’ve had to barr someone already !! We’re now at page 52 of this thread and to the best of my knowledge we have managed to avoid a**-holes until now. Guess that just goes to prove that NO trend lasts forever.
So with that said, and everyone else retired for the evening, I guess it just remains for me to ring last orders and close the Traders Arms for the week.
From a trading perspective I didn’t have a great week. Ended up down ( pips wise ) for the week. But it’s no great hardship, all part of the process.
On the plus side I found out about Donchian Channels, pretty much happy with my ‘10 lines’ S&P levels method on my chart. I’ve no doubt that over time this little system will evolve and end up being part of my process.
So strangely I’m down but happy enough about it. Don’t figure eh?
On a personal point I’d just like to say this. I enjoy this thread. I’ve been lucky enough to have been joined by knowledgeable, patient,but most of all, FRIENDLY contibutors. And that’s the way I like life !
Maybe it’s just an in bred thing in Glaswegians, but I don’t like a**-holes. I have no patience with them and won’t suffer them. I’ve always said I consider this thread to be the property of ALL who contribute, but that’s ONLY when those who DO contribute can behave and play nicely.
ANYONE can talk the BIG talk on a web site, but there really is no need. It doesn’t impress anyone. So unfortunately we’ll have to do without the wonderful insights supplied by the stoprunner.
Oh well, I guess I’LL live !!!:57:
To the rest of the regulars, have a great weekend, and easy on those Chatsworths ST
Just before I do finally retire to the Budoir of the lovely Mrs HoG, I’d like to say thanks to d-pip for supplying the info on turtle soup. Got a bit wrapped up in things this week and forgot to say thanks at the time so sorry about that d-pip, and thanks again.
A fellow once told me: “Big egos have little ears.”
It’s much easier to hear intent when a person is speaking, than to try to decipher it in text. Sometimes we all take things incorrectly due to just that fact.
It’s always good to have a dissenting opinion around, sometimes they say things I might not want to hear. But I’ve found, more often than not, I can learn more from someone I disagree with, than I learn from someone I share a like opinion with.
As long as I don’t end the conversation prematurely, because I’m not man enough to eat some humble pie occasionally;)
And all of your comments are fair enough. I accept them all. But there are a couple of points I’d like to add.
First of all up until now, I have not been aware of ANY egos on display in this thread. I certainly have no ego to bruise when it comes to trading FX as I am the FIRST person to admit I find this whole thing difficult, so no humble pie required at this table !
I had NO conversation with stop runner whatsoever, so I haven’t blocked him because he hurt MY feelings. For a person who only joined this web site in July, and who only has 18 posts to his name, he seems to be making a good habit of pissing off most people he talks to, which he successfully done to two regulars on this thread in the space of two obnoxious posts.
Don’t say you can’t tell a persons intent from something they’ve written, for that is what writing is all about.
As for a dissenting voice, of course we all need a contrary opinion. Otherwise we all travel down the Emperor’s New Clothes route and we ALL end up making fools of ourselves. The world was built on differences of opinion. I’d be more upset if someone stood by and watched me doing something wrong and DIDN’T tell me.
But the way their dissenting opinion is expressed is just as important as the opinion itself. There’s no need whatsoever for ANYONE to try to be a smart-a**. They’re only was one, (imho), Ego at play in those posts.
Like I said previously, we’ve managed to make it to page 50 odd now without ANY nonsense, just people sharing opinions and good advice, but if this thread DOES descend into a place to trade insults rather than FX, I’ll stop it right here and now.
For there are plenty of sites on the net already that you can go to read that sort of garbage.
And just as a small side note, I wish I could send you some of my early school photos. I can assure you “litttle ears” has NEVER been something I’ve suffered from
You might choose to be blind to two ego’s parading around the thread, but I can certainly see them & stop runner isn’t one of them. In fact his contribution makes the most sense of anyone’s over the past few posts.
At least he’s no sycophant.
The thing is though he wasn’t talking about longer term trends in the exchange he had with SimonTempler was he. Try reading his reply to Templer again & focus on the key point he challenged him on.
No ego there then
31 years of so called interbank experience & you spend Friday afternoon digging yourself out of hole that no respecting pro trader should have found themselves in, in the first place. I’ve only been trading live for 3.5 months but even I’m not daft enough to short a pair displaying so much consistent strength.
Thank god there are at least a few professionals on here who advocate using common sense principles to trade these markets.
I saw that you just started trading forex a couple of months ago and I was wonder if you have any advices for someone who played of the demo account for 3 months and wants to start a live account. I know I shouldn’t ask this and just read everything everyone wrote on this tread but I sincerely don’t have the time…
I’m not blind Kyle, in fact I think I can see well enough to know where this thread is going to go for the next while. So in the spirit of fairness, I’ve un-blocked Stop runner from this post. I apologise to him for it, but I would just add that even thoughhis posts were not directed at me, I did find the tone of them rather off, however well intentioned his point.
…31 years of so called interbank experience & you spend Friday afternoon digging yourself out of hole that no respecting pro trader should have found themselves in, in the first place. I’ve only been trading live for 3.5 months but even I’m not daft enough to short a pair displaying so much consistent strength.
Thank god there are at least a few professionals on here who advocate using common sense principles to trade these markets.
And thank God you never make mistakes , it must be such a comfort to you. But then, you DO have that wealth of experience to fall back on. Makes the rest of us mistake making, struggling newbies quite envious.
So like I say, I think I can guess how this is going to play out over the next few pages so I’ll bow out for a while. It’s not a
"[B][I]if you can’t take the criticism[/I][/B]" thing, more just a “[B][I]do I really need this bull-s***?[/I][/B]” thing.
Disagreements are part of life, they are, as Tang pointed out, a necessary part of life, but there’s no need to be confrontational about it. If you don’t agree with someone, what’s wrong with simply saying “No, I don’t think that’s right.”
What’s all this " I don’t know what fundamentals you’ve been looking at…" and “if I was going to be sarcastic you’d certainly know about it…” crap about ?
Anyways, no matter.
One last point though,
In fact his contribution makes the most sense of anyone’s over the past few posts. At least he’s no sycophant.
Hey guys. Forget about the ugly past. Nobody can change the past. Let’s look at the future, what we can change.
Arguing goes almost the same way. It escalates from A to B to endless points which in the end makes the initial dispute disappear.
Regarding short or long: Every second in the market there are buyers and sellers. No buyer means no seller. Plus vice versa. So, there are exactly as many buyers as sellers. Who is right you can just see after the fact, not before.
What I not get: There are not such disputes about the weather. Well, maybe I am just too ignorant, but I have nobody seen argue about how the weather will become. I am a pilot and before every flight I also talk to others pilots. There are sometimes different opinions about to go or not, but there is never anything going on below a friendly level. Why is that not in fx?
Just to be clear, I like disputes regarding the facts or opinions as well as long as it stays above a certain level, but all this personal stuff is not needed. Just look ahead guys and let the troublemakers vanish after a while. If you don’t argue, they get bored. If their trouble making finds no “buyers”, they can’t sell you anything!
Just my 2 pips about that.
Regarding Donchian Channels: The turtles traded with the channels. There are a lot of indis who show you the channel lines. Today it is said that a 20 day channel breakout is not that reliable anymore than a longer period.
The long term trend is up, not down. The weekly bias is also long, not short. We have currently a daily bias short, but it stopped with that low right at a beta 2 and turned sharply up.
If you look at a weekly chart, you can clearly see that the low from the first week in Octrober is higher than the week from January. The highs are currently also higher. Last high from week in May is higher than last week from October last year.
Not saying it can not change. Just how it is actually.
The way I see it mianko you have two alternatives.
But first of all, I’m not entirely sure what you mean by " I sincerely don’t have time."
If by that you mean that due to other work/family commitments, you don’t have time to read then I’m sorry, but there really is no other way to do it. You must read, learn. That’s actually part of my problem, I work +75 hours a week driving and try to learn and trade at night, which is difficult, but I have no other choice if I want to learn.
But if you mean you don’t have time because you need to make money quickly, then FX isn’t the answer anyway.
The second alternative would simply be to ask Kyle. He’s only been trading live for 3 months now but he apparently knows it all now !!
But here’s a little game for you to play in the meantime, but please only play it in your demo for now. Keep an eye on the Dow and the S&P. At the start of the day if the Dow and S&P are going up, sell the dollar. If they are going down, buy the dollar. Keep an eye on recent highs, recent lows and please don’t go live yet, you’re not ready. I wasn’t when I started, not sure I am even now.
Truth be told, I saw no sarcasm, or smart assedness in the initial post by Stoprunner. I only saw a bit of inquisitiveness as to the reasoning of selling into a solid up move. And just for the record, only having 18 posts is no way to judge the validity of an opinion.
People like Tess, or Jocelynn have very few posts. Guys like Carll, DanCat, OnTheBid, Andre Mayer, Sean P, jjay, apache rider, and so on have minimal interaction in the years they have been here, but they put up some of the best material on the site.
In a book, yes. But not where forum interaction is involved. Not everyone is a Shakespeare, or Hemmingway. I’ve misinterpreted quite a few comments myself. It’s a work in progress to not be so quick to assume things anymore.
Read this again, and tell me where the intent went awry:
I don’t know which current euro developments you’re looking at, but the ones I’ve been following for the last couple weeks have been screaming ‘go long dips’ which is quite clearly being mirrored in the recent price action.
Bullish troika agreement to the latest tranche of Greek bailout aid.
Slovakia’s green light for the EFSF expansion deal.
Positive murmors out of the ECB monthly bulletin on bank liquidity funding &
Expected steady Ind Production numbers.
I’d have thought they were sufficiently bullish to warrant a current long view, no?
I’m not seeing anything other than an opinion saying long might also be a viable option at the moment.
It just happened to be in opposition of another view.
Both valid, and worthy of a civil discussion.
I think the markets sort those things out, and all opinions should be available for a good look at the bigger picture.
Bar whomever you wish, but don’t do it based on thinking someone needs to prevent hurt feelings.
If anyone’s skin is that thin, trading will never be a long term viable option. This is a hardcore business. It cuts to the heart of personalities, attitudes, and egos.
One HAS to have a bit of ego to trade successfully. Self confidence is a huge player in the ability to pull the trigger on a trade. But that same self confidence should never be unable to tolerate listening to the other side of a potential trade.
Yin and yang make this thing go around for all of us:)
Please take this in the spirit it was intended.
My post about big egos, and small ears, was a personal learning experience, not an indictment of anyone.
No ego… it is what it is… no more, no less. I started out in the LIFFE pits at 21 and migrated to interbank in the mid 80’s and retired last december at 52. Just a plain old retail trader now and enjoy the company of like minded individuals here on BP. I’m certainly not advocating any one type or style of trading, nor seeking advise from others on how to do so… but will take your constructive comments under advisement. I have my own style developed over many years and it continues to serve me well. Agreed, Friday was not one of my better days, -40 trade followed by +33 trade (both short) net loss -7 points. Thursday again short but 3 x +87 and two at +72… net gain 400 points. Its all in the posts if you care to look? If thats ego… so be it. However I will say this. I think it shows ego on a breathtaking scale to freely admit to only three and a half months of live trading experience and yet feel unequivocally qualified to berate me. :rolleyes:
EDIT: Oh just one final thought. Who do you suppose was responsible for the retraces in the recent up move? It certainly wasn’t retail. That just leaves one other possibility right? Yep… professional traders.
Hi all,
I did the same thing. My brother handed me his iPhone one holiday and said try this. The aim is to make money by putting in a long trade if you think the market is going up or a short for a down. In one week I made $110K on a $50K demo, so I thought to myself; Boy this is easy money. Once home I opened a live account with $500.00 for testing and boy was that a wild 4 weeks. I had to top the account up with $$ twice and ended up down $600.00. I was about to learn witchcraft for some sweet revenge, but luckily I discovered BabyPips and went to school.
After 14 months I am now trying to program an indicator to work with my trading strategy that has been pretty successful over the last few months.
I love this game and all the emotions it evokes when a trade is going with you or against you.
I didn’t said that I don’t have time to read forex books or the school part. I just wanted to know if I really need to read all this 57 pages of posts or should I spend my time reading a forex book or some news. Thank you for the advices.
Where I can find Kyle? I would really like asking him some questions…
The best you can do is reading books about trading. Market wizards, that kind of stuff. Plus going through the bp school as start.
Those forums here are nice to exchange some ideas about sentiment or other things, but it won’t make you a good trader out of nothing. The biggest problems of those forums are imho if ppl start thinking that their buddies would help them making trading decisions for good. I mean signals from buddies. That won’t gonna work. Because behind every successful trader and his decision is a system, a personal attitude, everything what makes one trader special and successful.
Either you learn to trade, knowing everything about you, the markets and society, or you won’t become successful in the long run. This approach takes a lot of time, energy and at least you have to let go some common myths.
Gosh, lots of opinions have come out of the woodwork since I stopped for the week on Friday.
Apologies, HoG, that you seem to have been drawn into a debate about stuff other than trading. I didn’t feel that stop runner and I were going to have a constructive discussion - whatever others say, I think that stop runner’s posts on this thread do contain a fair bit of sarcasm, which I find unnecessary and does make me feel that I was right to close down the discussion - but I am sorry that it seemed to take on a life of its own after that. So I am sorry if my unwillingness to engage with stop runner led to that. Very sorry.
The sad thing is, we might have found that we actually agreed on much of the content, so it is a shame that this thread went into that siding.
Anyway, sorry & hopefully we can start next week with a blank sheet of paper.
Well then, just for the record, I wasn’t using stop runner’s number of posts as a measure of the validity of his opinion. I was using his number of posts as a way of saying that a person might wait a bit longer after joining any thread before throwing in less than friendly little gems like :
OR
Or in response to yunny1’s comment, “this thread is being filled with a lot of information by good traders that happen to be very polite…”
We got this sparkling little piece of friendliness…
Then we had the sarcastic little intro in reply to R Carter, which was clearly aimed at SimonTemplar
Let me just repeat the last two words in your comment; CIVIL DISCUSSION.
Stop Runner’s comments, or the validity of his opinion is NOT the point of discord here. For his opinion on TRADING, or his opinion on the direction of a price movement is JUST AS VALUABLE as ANYONE’S.
But why he then has to go and surround those valid points in skitty, sarcastic, arrogant crap is the point that has pissed people off here. NOT the opinions or the points he made.
I wonder if the moderators reading this would consider renaming this web site "Baby- let’s all insult each other-Pips.com
Let’s deal with that one step at a time. Hardcore ? You think sitting at a computer is Hardcore? The world is filled with people who slog away every day at jobs which are FAR MORE labour intensive, FAR MORE dangerous and are FAR LESS
rewarded than the people who make a living sitting in front of a computer screen. I’ve worked in jobs in construction building tower blocks, BEFORE the world could be bothered even saying the phrase Health & Safety, that would have scared the s*** out of most people.
Yesterday I drove a cab for 16 hours, picking up the drunk, the drugged and the generally just pissed off ( in amongst the good ) in one of the UK’s most violent cities. So don’t tell me that pissing about in front of a computer is “Hardcore”.
And please don’t confuse Ego with Self Confidence. For they are two different things entirely. Your right in saying we need self confidence to pull that trigger, to have faith in your ability and analysis to risk your hard earned money, but do you need to have a big ego to do it? I don’t think so.
Greg Norman was once asked by a TV interviewer after winning a golf tournament in a close finish what the pressure was like in those final, closing holes. Greg Norman’s response went like this, “Pressure? Pressure is not being able to feed your family, pressure is scraping to survive. What I just did was called playing golf.”
The point of that is that you don’t need a big ego, or ANY ego in fact, to do something well.
I trust that YOU will take THIS post in the spirit it was intended.
But just as a final point before we hopefully put this nonsense to bed once and for all, I would like to direct EVERYONE to the post just above that has been added by dnlrsms0. Because that post sums up what this thread is was originally started for, and what up until recently this thread was all about, ie New traders sharing their experiences and being pointed, politely, in the right direction by more experienced traders. THAT’s the point here, that’s the ONLY point. And if ANYONE finds it TOO DIFFICULT to get involved without pissing off the people who DO want to get involved, then I’d prefer it if you just didn’t bother.
The best piece of advice given recently is that ALL opinions are just as important as each other, as long as it stays above a certain level. Off the top of my head I think that was added by Buckscoder. If it wasn’t, then I apologise to the original contributor.
This has all just been a bit sad, and it does tend to make a person ask “Why fu***** bother?”
Well said HOG… I’ve seen quite a few very good traders hang up their spurs on BP with precisely that comment in PM. Here’s hoping your otherwise excellent thread remains troll free.
In all fairness, Stop Runner had been accused of being sarcastic before any of those “gems” you posted up there came into play.
Enjoyable thread, and I’m sure it will still be.
One of these days, I intend to make it over to the “home of golf”. I would be delighted if we could have a pint, play a round, and discuss things in a civil fashion.
I stand by my words that most problems that arise on forums come from misinterpretation.
This ain’t the first one, and it won’t be the last.
