Giving up the pipe dream of making a living in Forex

Torulf, so pleased to see this post from you, it is far more constructive and useful than your earlier posts.
The point you make about unqualified bad advice rings true. While this is my first and only forex forum, I am in a number of other non-forex forums and some of the advice given out makes me cringe. Even Yahoo Answers and various DIY forums contain not just bad but dangerous advice, and thats before you get to the trolls telling others to microwave their iphones to charge it more quickly!
The difference with this forum, imho, is that you need a modicum of intelligence just to understand the forex basics so are more capable of cutting through the b.s. and picking out the useful stuff.

Hey Jolly, was this the desired results?

Good morning everyone… I am so glad to see positivity and goodwill returning among us!

I just wanted, if I may, butt in with the following thought: being ‘qualified’ does not make

for a good teacher… What do I mean by this?

When I hear people on the forum go on (and on, and on) about trading instructors or advisors

not being ‘qualified’ to give advice, I think back to my years of teaching experience, and how,

even to this day, make me in no way de facto a good teacher: while there are people out there

who not only have no attitude for teaching as well as being under-qualified, there are also incredible

teachers who never have gone through certification and teacher training but have been inspirational,

and I speak from my childhood…

I am more than qualified in my field (music) to teach, in fact, probably over-qualified to some extent,

and I have put a lot of students successfully through exams at many levels… If you translated this to

the finance world, and said that I had a lot of good track record and qualifications, would you take my

advice as ‘good’ and respect it?

What is misconceived here is that a ‘good’ and ‘certified’ expert or professional is a good teacher for

EVERYONE: the thing about instruction and advice is that it is only as good as it works for the individual

taking it… If I taught a class of thirty, as I often do, I know that while half the class may find my teaching

good, and a quarter may find it excellent, the other half may not enjoy it: similarly, there have been examples

on here of people talking about trading courses that have really improved their trading it, while others warned

against them being a waste of money… In the end, if some people enjoy the teachings of Kathy Lien,

Anton Kreil, Jessie Levermore, Elliott, Anna Couling, or any of the hundreds of big names in trading, is

completely irrelevant in a scale of ‘worthiness’: what matters is that you take their advice and do something

positive with it.

While it is true that there are worse teachers and definitely bad advice, the fact that, say Emerald has

a finance degree is not why I choose to listen to him: in the end, it is the dedication and patience, like

Clint, like peterma, and many others on here, that comes through each of his and their posts, showing

how they do what they do, and the reasoning behind their trading decisions… What I and all of us

do with their advice is beyond their control: if we applied their trading system blindly to our own, we

would surely fail… Would this make them dangerous, unworthy teachers? Not at all… Rather, it would

shows us as bad students, if anything…

So, my lesson finishes here!

Enjoy your Sunday!

Time for coffee…

I tried contacting Carll a while back but unfortunately he locked his contact access in his last known haunt, as did the other regulars, so I hit a brick wall.
Do you still cross paths with him/them?

From that little acorn did a very impressive oak tree sprout! :slight_smile:

Thanks torulf39. Apology accepted :slight_smile:

A society that we are currently living right now with a quick-fix and instant gratification. I think bamboo tree can teach us a lessons on how to be patience, perverance, have faith, also growth and development. It is very easy to get side track on everything around us and lose focus on what is important. Bamboo trees cannot easily be broken by a high wind in a storm rather they find their way and work through the storm…They sway through the wind and they don’t fight it. They enjoy the ride until the storm passed them.

Kathy Lein and Borris is just a small part of it. I pick up every pieces along the way and create it as my own. I am still looking for more to pick up on and gain more knowledge because I am not done yet…my current progress is just a start. I still have a lot of things to do…

I am not trying to beat the market…I am trying to do my best as I can…

Good-luck!

I quoted this because it is a priceless post, but seems to be glossed over and missed by those that needed it most. Funny how that works, and it’s also the root of why most people just can’t ever get any further than they do.

Absolute proof that you CAN lead a horse to water, but they just might not drink.

Indeed it did, both for those two & a couple of others on another portal.
If you use that stuff between your ears properly, learn to identify & avoid all the worthless static & take the opportunities when they’re presented, you never know where it could lead.

He’s currently working for Mint Partners, part of the BGC group volan. Apparently he wanted to diversify a little & expand his experience base. The guys got him an intro earlier this year, he successfully pitched them & is now in situ.

Last I heard Kevan was still at SocGen.
I chatted with Tessa at Easter, but I don’t speak with them as much as I used to as I no longer work for one of the firms they transact business with.

dan/compact/double 6 et al,
If you guys were betting your own pot in the (currency) market for whatever reasons & knowing what you know, what type of strategy or model would you utilize & what would be your preferred time horizon.
Tagged onto the end of that question, & considering the comments in recent posts, is there a thread or threads on here that you would bookmark yourself or direct someone to who asked for a leg up to getting started?

Also (& I’m being a bit cheeky here!) what size pot would you consider a viable & realistic base for generating income or profit whilst affording capital appreciation.

Also, given the advances in retail platform improvements over recent years, particularly surrounding execution & spreads, would you confidently transact your deals via that option or would you choose higher end broker outlets?

Jolly Roger, I’m very sorry that you took my one post as barrelling your thread. My apologies to you. As I said in the post wasn’t trying to change your mind, just offering my take. It won’t happen again.

For all the others that feel they have to drop my name or refer to me anonymously on this thread or any other, since I don’t want to high jack this thread but I would like to answer your remarks and issue you a challenge. So don’t be gutless, anonymous spineless fleas come out from the dark and hop over to the newbie section so we can prove to each other what we post

A trend/momentum based pullback/breakout approach.

Timeframe & horizon choice would be volatility dependent. That type of engagement requires condition based flexibility & would need to be tailored to current pricing influenced themes.

Well it’s no secret we advocate simplicity & uncomplicated, so which thread on here do you suppose most accurately mirrors the above criteria?
If you’re headed for the one I think you are, I personally would drop the moving average & run with what’s left, but that’s just my preference.

That decision can only be calculated based on the individuals personal standards of living requirements, anticipated market exposure limits, activity levels & risk appetite. It’s going to be very different for everyone & i personally would diversify my activity across asset classes so I have no idea how much i’d require until i did a thorough appraisal, but i certainly wouldn’t scrimp!

I haven’t really gone into too much depth regarding individual broker specifics, but the environment appears to have improved noticeably in recent years & regulation has been spruced up too. Providing a retail shop could accommodate my requirements I would have no problem betting with them.

Saul, on Dan’s last point, re the brokers.

I make execution my priority, the spread comes second. My reasoning is that if I get my analysis right the spread is not such a big thing, but when my analysis is wrong - there is only one thing I want to do - get out quickly.

I finally found one provider who does exactly that, interestingly offers no demo accounts, no free discounts, well none that I know of, but it is a relief to enter the platform on FOMC and be able to exit a long S&P the second that I hit the button - none of that little whirly circle turning and turning.

Oh, and UK so no worries re regulation.

If I was to ever go solo volan I’d give all my dough to Danny boy & let him do all the hard work :wink:

1-5 day momentum rides rock though!!!
and i rarely hear a bad word about Interactive Brokers.

There’s an old guy who appears to have the hots for you over here 301 Moved Permanently

He’s either been hitting the sauce hard all weekend or he wants to date you!
Either way, take flowers…you can’t go wrong with a perky bunch or two of daisies.

Hey Dan,

Sorry, I must have missed reading your post/questions. Okay, what is the most common mistake retail trader make. You said is, so it is the only one, correct? If so, it probably " under capitalization". There are too many common mistakes that I can think off but let see what the answer is… Thanks.

“Under capitalized” is such an overused cliche.

When you can create nano accounts, there really isn’t such a thing :wink:

Read up a few posts. The answer is stated rather plainly:)

Lol I did skip a lot… With all of this " hot shots " posts, I can’t keep up :wink: thanks!

if you guys ever start a signal service together. you know what your group name will be now

:wink:

Actually, not a bad idea :slight_smile: BabyPips will be the first one to know and yes with a verified myfxbook :wink:

There were no desired results. Only to play devil’s advocate and provoke discussion.

There are no hard feelings and no apologies necessary, though I appreciate the gesture.

That you did. In fact your the first member that actually managed to extracted some meaning posts for some of these members