Do you like forex or not?

Again, despite being a totally newbie, I love Forex as all I need to do is mention “leverage”, “margin” or even “pips” & my wife instantly disappears. Handy for getting a bit of peace to watch tv or chill out.

I love it.
if you are doing something you dont like, then change

The more confidence you have the less fear and worry you have. Personally I gained confidence after I adopted a rule lawyers use; never ask a question unless you know the answer. I never make a trade unless I know where the price is going. I figure out the direction by asking myself a list of questions. The questions remind me of my rules for trading. Of course I am sometimes wrong and lose trades, but I usually see the error quickly and keep losses short. A 75% winning percentage decreases my fear and worry. One more thing. Having a plan for entering a trade is important, but no more important than having a plan for when to get out of a trade. :wink:

useful magic words against your wife.

I love Forex it just does not always love me back

i love the pure raw capitalism of it, the psychology of it (it is after all a bunch of emotional humans, sheep, and the occasional carrier pigeon), and the incredible range of opportunities to grow my personal wealth (meager as it currently is).

what i DON’T love is telling others what i do as inevitably they ask far too many (and far too probing) questions, the type that i don’t want to answer (or i have to bite my tongue and not ask them “so, does your wife spit or swallow?”). seriously, sometimes the things people ask me are just much too personal. or they look for free advice “what should i do? you think Apple is a good buy now? what do you think of Greece?”

ugh…

i love it as long as i don’t have to talk to others (non-traders) about it.

Yup! This is a great forum, you have all the tips you need including the resources to make sense of the lot.
On Fx trading, its kind of a love - hate relationship, the hate part kicked in early on when I was a newbie but no longer…

i love forex.
i love being my own boss
i love being in charge of my own destiny.
i love the fact that forex is accessible to all.
i love the fact that the sky is the limit.
i love the fact that you are judged by your figures…
i love the fact that at the end of the day spiel means nothing in this game its results driven.
i love the clean cut judgement of forex…a good trader makes good money consistently.
i used to work at companies where those that kissed ass got further…those that had the correct spiel got further…those that went to the right school got further…basically the sheep got further than the shepherds.
forex levels all that nonsense out…only the good traders get further…its black and white mate.
i love forex because of its speed…in and out quickly like a trader rather than buy and hold like an investor.
i love forex because it is open for business 24 hours a day for those who want to work 24 hours a day
i love the fact that i cant wait to get started working.
i love the fact that i love my work.
to be good at stocks and shares you should really investigate companies and value them, balance sheets, pe ratios, and to be safe you need to build a portfolio…BORING YAWN !
or get inside info on takeovers and stuff…market can be easily made to rally due to size.
but with forex main news and a chart is enough to get paid.
hard to manipulate forex market due to its size and non centralisation.

its just perfect

THAT i have to +1,000 to! i love that it cuts the BS out on EVERYONE, both myself (i can’t hide from my own self and my results) and from others who gloat and brown-nose at their otherwise cushy ‘job’. just love love LOVE the brutality of it!!! i also like Kevin O’Leary and his approach to money and people-who-approach-money.

Giggie- Planning is rarely important before starting trading. I completely agree with you on this point.
Number who suffered losses in the forex market (and many of them were experienced by beginners), causing them to assume the same with forex gambling. In fact the only cause of the loss of their own funds! They may know about forex trading but do not dominate them. Because of a lack of understanding of the analysis of existing instruments, the potential losses to be larger and that’s what happened to them.

I agree, it’s always more easy to say than to do, anyway, forex needs experience and knowledge so that you will be confident to face the market.

I seem, you are not an expert trader just standard your trading journey! That’s way, you are not confident enough! Don’t worry! You’ll be overcome all of your lacking points very soon, if you use your training sessions so sincerely! In my beginning stage of trading I was also scared, but now I’m not! I know, how to overcome critical sessions of market because of my long term trading experience and my clear knowledge!

Of course I love forex very much. Because, from this place I can earn huge amount of money. Every trader wants to earn money but many kinds of traders cannot do this. Because if you do not have enough knowledge and a good broker you cannot earn money from this. But if you have enough knowledge about forex you can easily earn huge money from this place.
I have many reasons to love forex. I love forex because in this business no need to maintain time to do it. It is an international business. I can do it from anywhere. That is why I love forex. I love forex business very much because for me this is kind of reliable income source.

Of course I like Forex. If it wasn’t something I enjoyed I wouldn’t have spent years studying, trading, developing my skills and always searching for ways to expand my knowledge and my experience.

Interesting, the way this 5-year-old thread came back to life …

I [I]do[/I] like forex, but I [U]strongly[/U] prefer futures, overall, because of the availability of “volume” (not available with spot forex as there’s no central exchange).

I’ve found that by using volume-based parameters (rather than time-based) as my way to display the charts, I can do exactly the same things that I was previously doing to trade spot forex but with better, more reliable and more consistent overall results.

Metrics to 3 sig figs?

Figs are far more significant in Malta than over here. :cool:

(I switched from spot forex to futures in Decmeber 2015, and made a monthly average of around 22% more - doing exactly the same things but from constant-volume charts - throughout 2016 than throughout 2015, calculated on a [I]pro-rata[/I] risk-exposure basis.)

Ok, you have twisted my arm…you can let go now!
Throw any useful reading material on the pile lexy, i’ll get to it in due course. Ty.

I’m not sure I have any to offer, sorry - didn’t read anything new! :8:

Some of the traders from my father’s work, who were more or less familiar with how I was trading, had been advising me - actually for years, but I’m hard to “advise” and need to work everything out for myself :8: - that my price-action/bar-pattern trading was going to work more reliably and more profitably on constant-volume charts than on time-charts (I can try to explain why, if you want, but it’s mostly “for the obvious(?) reasons”). I’d been trading mostly EUR/USD and GBP/USD so I just switched to Euro and £ futures (whose price-movements are about 100% correlated with their spot forex equivalents) so that I could display the charts that way. Once I was doing that, it was easier to trade the futures directly than to trade spot on the basis of futures charts.

My comparative figures are all messed up, though (just what you’d expect from a “statistician”), and not really like-for-like :8: because not long after doing that I added in Nasdaq futures (“NQ”, which are now over 75% of my trades) and later in 2016 added in occasional oil futures trades (“CL”) too (that’s like the Wild West!). So I’m not even strictly speaking a “forex trader” at all and am now here as an impostor, to some extent.

The reasons i understand, i was more interested in any"general" adjustment to PA technique having never looked at constant volume charts, although taking a look side by side a standard chart may explain all that i suppose.

Re your stats: Thanks for the Bayesian update, the extent of your clandestine, (is there any other sort?.. hidden in plain sight notwithsatnding), imposterism is acceptable under the circumstances, trader evolution and all that.