I have 3 months/all day/everyday HELP!

Beginner Questions
24

EVERYONE of my trades have been 10/10 on loss limit, for the most part.

Statistics say?? that doesn’t mean that you can’t make a profit, anyone should know that the “statistics cliche” in ANY walk of life is NEVER 100% applied to everyone.

No matter what, up or down, the market is always going to have a counter-market {for every action there is an equal & opposite reaction} & there is ALWAYS going to be up & down flucuations which is what I am gaining an interest in.

Who knows, I might be the exception to the rule, it seems to be going fair.

In your defense, you are correct about beginners, but I am not in it to get rich & lose my money, I am in it to take baby steps & learn. But like I said, I have worked on electronics for the Air Force while I was in, I would take readings from oscilloscopes all day long & run diagnostics, believe it or not … this is directly comparable to that. & I can relate to the troubleshooting of the market aspect of it.

The charts are like voltage/amp/etc readings, exactly like it. When a part of the device or circuit board doesn’t work, these readings will fluctuate. Or for display devices, the output signal will be distorted … it’s amazing how much these two completely different items {circuit board troubleshooting & forex charts} are alike.

It seems to me that you might be bitter to the fact that the general beginners rules don’t apply to everyone. Just most everyone.

If I lose $500, then that is that, but so far I am up!

"This is nonsense. So if I have 1 million dollar, I can spend 20,000 and it wont affect me? Is not about that, is about CAPITAL PROTECTION. "

-what? No, I earned my savings, I can spend how I want to. Don’t give me that capital protection b/s, there is a savings account, checking accoung and investment{s} account, we have a roth ira for that. This money is coming out of savings/spending money. Instead of taking a vacation right now, we are going to invest in this, if we make more … BIGGER VACATION if we don’t, then downsize in the hotel room.

  • Advice from the other side, don’t always rely on statistics for everything in life & make everything about book smarts.

Also, I don’t value my life on a paycheck, I can lose everything, really, but if I am with my family. That is that, the day you let money be #1, in my opinion. You already lost. & my general strategy on life has worked out very well in my favor so far.

OH AND SINCE WE ARE USING CAPS FOR STATS SAY …

SHOW ME 1 SINGLE STAT THAT IS 100% CORRECT!!!

"
If you were done with demo trading, you wouldn’t be asking this kind of advice. Seems to me that you don’t have a trading plan yet. If you cant answer this kind of questions, then you are not ready:
-trading days
-trading sessions
-maximum risk per trade
-maximum trades per day
-maximum trades per week
-maximum day loss
-maximum week loss
-maximum consecutive losing days
-risk/reward and win/loss ratio of your system
-Risk/reward and win/loss by each pair you trade
-risk/reward and win/loss by each day of the week
-profit taking efficiency of your system.
-maximum profit execution and maximum adverse execution of your system, separated by each pair you trade. "

I am not making this my plan for living, I am doing it as a hobby. Just the EXACT same as if I were to take 10,000 and put it towards dirt biking or a new pool.

Its called disposable income!

Off to the movies … does that go against my capital protection? UT-OH

25

We’re trying to help but you’re making it really frustrating.

That kind of arrogant attitude will kill you fast. No one is bitter, it is 100% true that the “general beginners” rule does apply to everyone. But if you want to find that out the hard way instead of listening to experienced traders then go right ahead. gasanvill is dead right on this one. Read his last post again. He makes some great points.

Trading is not a hobby. If you want a hobby where you lose your money you might as well just go to Vegas. If you treat it as a hobby you’ll never have the right plan and mindset to make money.

When I first started trading I was helped by a great old trader who had been doing it for 40 years. He told me your goal in your first year should be just to break even, don’t expect to make money right away, and if you break even during that first year consider yourself doing great.

26

I can honestly say that this system has taught me a thing or two about scalping.
Janqie “MadScalper” 1min trading @ Forex Factory

27

Dont waste your time max, he thinks he can treat FOREX like a HOBBY (not like a BUSINES) and succeed :smiley: :smiley: so funny. Nothing more to add.

28

to say you can’t succeed at a hobby is ignorant, I am treating as a hobby as far as the money involved, that doesn’t mean that I am not taking the trade seriously. It just means that I am NOT dependent off it.

Also I looked into the forecast for today for the AUD/USD & I am up around 20 pips with 3 x10,000 lots… so I am up about another 60 usd.

I have officially profited about $100 usd in 6-7 days of trading.

I have been studying this stuff for a week now & I am a very quick learner {photogenic partially to thank} & I have a pretty good understanding now. From what I read, there is a lot of ‘theory’ people put into trading that isn’t necessary.

I don’t mean that to any offense to anyone, just 90% of the ‘business’ stratedgy is pure speculation & theory. With that said, who’s to say that my theory/speculation/stratedgy isn’t the working one that will turn 1,000 or 10,000 into 250,000 in a years time?

I am being called ignorant but I can’t believe of ignorance of “I can’t do it and/or i didn’t do it … so there isn’t a way that you can”.

Listen … just because you didn’t make it quick and it took you 2-5 years or whatever to learn, doesn’t mean that it will take everyone that long.

I have studied for a week, made strategic moves {at the time I didn’t think they were strategic but as my wife stats, I often don’t give myself credit} but now I see I made strategic moves, & at the close of today, my beliefs are correct.

I am done with this post/topic, I will update in a few weeks time … I am recording my live trading & will post if also so you know that I am not one of those to talk the talk.

“it is 100% true that the “general beginners” rule does apply to everyone.”

-according to whom? have you been/watched over everyone? though so!

“Trading is not a hobby. If you want a hobby where you lose your money you might as well just go to Vegas. If you treat it as a hobby you’ll never have the right plan and mindset to make money.”

-Are you an expect of the practice of hobbys and the effort one gives to hobbys? you are?

" I know from my own experience and from many friends who are also traders. No one starts off making money right away."

-I started off making money right away, as of 8:13 pm tonight, I have profited about 10.3% in the first week. Is your experience the experience of everyone … who ever traded?

“There is always a way to lose if you are not a disciplined trader, and especially if you don’t know the data I asked before. Come on man open your eyes, you are planning to use 10 pips stop loss on every trade!”

-especially if I don’t know the data … if you are such an expert … never mind. & yes that is MY plan, MY strategy, MY idea is to us around 10 pips per trade. Gained me 10% so far. difference between a millionaire & billionaire is a few zeros … think about that.

““who is to say that one week can’t be 1 year?”

STATISTICS SAY"

-you keep saying ‘STATISTICS’ & it caps, but you have yet to show one statistic saying anything remotely close to "no one can make money as a beginner’ or anything relatively close to that.

"This is nonsense. So if I have 1 million dollar, I can spend 20,000 and it wont affect me? Is not about that, is about CAPITAL PROTECTION. "

  • you should add ‘financial advisor’ to your VERY IMPRESSIVE resume of … LAWYER … CAPS WRITER … DOCTOR … BANKING CFO … ETC.

in the end, it seems like some aren’t liking the idea of someone doing better then them in a fraction of the time!

looks like there might be more then 1 million dollar idea!

Look I am not ignorant as called, but one thing I CANNOT stand is when I am told “this is how it is, you can’t do it better” or “stats say that can’t be done”

… Well i am here to tell you that it can be done, & done better.

Stats … who cares about stats when it comes to telling me I can’t make money. All this does is piss me off to where I am now not just interested, but motivated to be the best.

I am done here, thanks for your help to those of you who helped!

29

You’re talking to people that have been at this for years, there are aspects to forex trading you have no idea about yet.
One of them is the lure, this happens to everyone when they switch from demo to live, they do it because they feel they have been successful at demo trading therefore they will be successful at live trading.
What they didnt count on is a simple but usually overlooked fact, no one starts live trading while they are in a period of losing money on demo, they only go live when they had a period of demo success. Think about this because it is very important to your situation. It might seem obvious but there is more to that than meets the eye. They are in the grip of what I refer to as the lure.

They think they are now a good trader so they go live, the nest thing that happens is they start hitting losses, lots of losses and they dont know why.
I’ll tell you why, it is because they were practicing on a demo account using a strategy that was temporarily profitable, one that over the long term was doomed to lose. BUT obviously they didnt know this when they switched to live trading otherwise they wouldnt have done it.
The next thing they discover is, almost every trading stategy out there in the public domain is only temporarily profitable, not a nice thing to discover while trading with real money, but it is a fact, a profitable strategy is litteraly worth an exponential amount more than its weight in gold, no one will share with you the consistantly profitable strategy that has taken them years of hard work to come up with anymore than they will share with you anything else they spent years working on before it became profitable, their business income, their salary, their inheritance, their alimony lol
What they will do is repeat to you strategies that are already widely known about, are temporarily profitable and will work well for some time but over the long term are drainers.

30

Odd that you would send someone to a different forum to learn a system that was originated here on BabyPips by a class guy…

31

i hope you stick around…,i am thinking millionare status isnt far off for you…
and i would love to hear the ending to your storey which i think is possible less than 3 months away - please keep us posted.
By the sounds of things your pretty much got this ‘stuff’ sorted out this week, not sure if that is partially due to your photograhic memory or the fact that your good looking and a photogenic GI Joe - perhaps movie material.
Anyway, my mum and dad used to tell me my good looks will only take me so far, maybe you can prove them wrong.

32

Very professional for someone who has been doing this for a while.

Who said anything about good looks? I said I am a quick learner & it maybe due to my habits I developed or my natural learning ability. Who knows.

All I know is that ones success doesn’t determine another.

All I keep hearing is “you will fail” “you are new, you will lose money & not know why” “the market changes” , etc etc etc.

I know that If I lose money, it is because the value of the ‘enter country here’ dollar went down, this maybe due to the interest rate, economic news, exporting highs or lows or new regulations coming out. Or simply becuase many people are buying or selling.

Either way the logistics of trading isn’t hard, the fundamentals can be taught at the 5th grade. The tools at hand of the trade acquired is what will make or break you.

I understand the concept of business, And you have to work your way up. But with absolutely no investment besides the initial deposit & the objects needed to trade {computer, computer desk, chair}, it is completely idiotic to say someone can’t profit right off the bat.

Rather a country is at a current high or low, there WILL be fluctuation within that currency, that currency will always be profitable & the exact opposite. To say that one can’t learn that SIMPLE system quickly is ignorant.

It seems this ‘world’ revolves around developing a system, a system that simply involves interpretation.

Please self-define interpretation and I am sure we will all come with the same or close enough to the same definition.

My interpretation so far as been pretty much correct, & I understand that the market might fall. I understand that I invested in AUD and their interest rate is somewhere around 4.5 or 5.5 which puts pressure on exporters so EVENTUALLY the aud dollar will fall.

The usd will Soon become attractive to some scalpers which is why that would possibly be a wise investment with the 1m, 5m & 15 m charts. Quick profits are guaranteed next week on that if you call the correct shots.

Japan’s Interest rates are possibly going to be 0% from the BOJ. Since they are an exporting country, that will save big business some money as the end product will be cheaper.

The point of this is that I have done my research for the next month or so & will be watchly closely, same as someone who has been doing this for years.

Believe it or not, someone who has been doing this for 2 days has the same tools available as someone who has been doing it for 20 years. Yes experience helps you, but not one person knows everything.

But instead of paying attention … I will ignore the advice of my mother of hard work & self sacrifice & making sure your value in life is not determined by a $ sign & I will take the advice of “trav72” & rely on my good looks.
I will just stare at the chart and give the ‘wink’ and watch the currency sky rocket. Sounds like a plan!

I am assuming some here are a bit older, you should do some research on the ‘generation x/generation y’ theory, pretty interested. It is a debate, that surprisingly, I can see here very clearly. One generation not willing to accept that the next might be better, simply because of the natural flow of society, technology, innovation & the overall understanding of it.

But yes, My good looks will make me rich in forex trading {even though its just a hobby to me} but it will make me a very rich … cough cough good looking … millionaire by December 25th!!!

33

keep us posted, like to hear how it pans out, especially when the penny drops, though i think you might of moved onto your next hobby by then

34

Are you serious? lol, the penny is at its all time low pretty much. & name ONE time in history that the penny didn’t drop or raise within a day long period?

& besides that, All I have to do … according to you … is show my extremely good looks & like magic, the market does exactly what I tell it to.

Oh it’s hard being beautiful!

35

@ mj…

How I recognize your situation, because I felt somewhat similar when I got started. Back when I discovered day trading I thought - naively - that I could become profitable in six months to a year and be trading for a living.

I even delayed my plans to go to grad school because I was going to learn to be a profitable trader first. I had six months of free time and I thought I could get it going within that time frame. Wrong I was, and I did put in a lot of work and time, too.

Sure, I had my share of beginner’s luck (I ran up my account by 25% on my first day), but that is exactly what it was. I too felt I had a ‘magic touch’, that somehow subconsciously all that hard work I put into reading the books and listening to Bloomberg and CNBC was paying off. Bullfeathers…

I’ve concluded that the reason many people feel day trading is something that can be mastered within a relatively short amount of time is that day trading came into popular prominence during the NASDAQ bubble. Back in those days you really didn’t need much brains to do it, because of the way the market behaved. That image hasn’t been shaken quite yet.

The problem I’ve discovered with trading is that you have to first learn how to learn. That process takes a long time. One of my big weaknesses is being in a rush to succeed. I was humbled and now I’m relaxed that I have a more realistic perspective of what it takes to get this right. That doesn’t mean I shouldn’t push myself, set targets, and so on, but its foolish to ‘burn the boats’. I’m going to grad school now, following the market in the AM, and am fully comfortable with the idea that when I graduate, I will have a job and then trade when I have free time.

Be happy that the posters who wrote you are bothering to respond. This forum is one of the friendliest environments for developing traders I’ve ever encountered. Absorb every word of the experienced, its free education - they are not trying to sell you anything, they just care. People like that have kept me from doing stupid things and given me a framework to develop in.

If you for some reason feel you are as good if not better than they with less experience, then your account equity should reflect that in three months, and in three years. Trading is a meritocracy, in the end. I just hope you are not risking more than you can truly afford, monetarily and psychologically.

36

@TonyIommich

Please read entire post, I will quote you and reply …

“Back when I discovered day trading I thought - naively - that I could become profitable in six months to a year and be trading for a living”

-I NEVER claimed that I would be profitable, I was told it wasn’t possible & I have stated that I have made 10.3% in the first week so it is possible. I expect neither to win nor lose.

“I even delayed my plans to go to grad school because I was going to learn to be a profitable trader first.”

-I am sorry but I would never stop school for this, that was not a very smart move on your end. I have savings and this is my ‘disposable income’/play money/vacation money. You were in a COMPLETELY different mindset then me obviously.

“felt I had a ‘magic touch’”

-again … never claimed to have the magic touch, just stating i become profitable & that it is possible to be completely profitable over the course of a first year. Doesn’t happen to everyone, but it does happen.

“One of my big weaknesses is being in a rush to succeed”

  • that isn’t my weakness, I would love to succeed but this is a hobby & I mean that in the way of I am not dependable on it nor will I let myself be.

“I just hope you are not risking more than you can truly afford, monetarily and psychologically.”

-if you read the post then you would know that I am not putting anything on the line, I was successful with saving all my tax free & combat pay from deployments & we are very good & making sure our savings is first in line after bills. After several years of hard work in the military, we are lucky enough to have enough savings to be very comfortable for quite a while. Part of hard work is rewarding yourself, my ‘reward’ before i start school & work in January is giving myself some time off with no financial worries & having extra cash to put into a hobby. The hobby I choose was foreign exchange. I have been lucky enough to have a good roth IRA with USAA & it has all be well thought moves over the years. Some think then react, some react then think. I was fortunate enough to think before I react.

The reason why you are told to ‘calm down’ in a stressful situation is because when your heart-rate goes around 80bpm, you use the front part of your brain which is the quick response part of the brain. This is so your body is instantly able to react to stressful situations at the cost of the logical process of a thought. Once you learn how stress works on your mind & body {that would fall under physiological correct?} then you can learn to recognize & better control your instincts & reactions.

There is a reason why our military is the top in the world. It is the training that we receive hands down. & between my life experiences & military experiences, I have learned that you always need to take a step back, realize you are going from point A to point B & determine the best way to get there.

I am now downtalking or judging anyone here, I hope the best for everyone, but I take every approach like I don’t know anything that way I don’t miss any points. You can learn something from everyone, you might say that one thing that I don’t know or vice versa so you have to let everything out to learn that one part that might set you ahead.

NOW what I don’t like is when someone says “it can’t be done” statistics PROVE it can’t be done" “etc.”. It would be better and more respectful to say “most likely it can’t be done” " statistics show that you are more likely to lose money your first year" so on & so forth.

If you actually read through the post, you can quote members saying that it can’t be done & won’t be done.

EVERYTHING that is involved in currency trading is a tool. but there isn’t one tool that is better then the other, & you do not need to know every tool. Yes the more you know the better, but not knowing them doesn’t mean that you can’t accomplish the given task.

I think to often, in my experience, people judge based on their own experience & accomplishments & don’t give credit to others who can do what they can’t.

I think it is idiotic to say that something can’t be done. Because it can.

Like the stated the difference between a 6 figure salary, a millionaire & a billionaire is just zeros. The process to make the dollar is the same.

I used 1,000 in the first week to make 10.3%, if that was 10,000 then it would be around 1,000 I made. The point is, these equations are a simple factor. Then end product is determined by the initial investment & not by the difficulty of the equation.

Name one time in history when the market wasn’t profitable in any form {1m or 1day}, there will always be in opportunity to make a profit & a loss.

MAYBE JUST MAYBE the experience of losing for 3 years is what it took to gain the lessens to be a ‘winner’ in this trade … but who’s to say that those lessens haven’t already been gained by individuals starting in this field.

It sounds to me that most , maybe 99%, of people joining the forex just dump money into it & who to gain pips, well that isn’t what I have been doing. I thought it was, but after talking to my wife I realized that I was putting strategy into it, she is working for a bank … you can call it consulting I guess, but from what she knows and who she knows this doesn’t take much more then discipline & a plan.

I will keep a post up on my gains and/or losses respectably, I am not claiming to be rich or make a profit, I am simply saying it is offensive to say no one can do it.

37

Who said it cant be done?

When i said that statistics say, 95% of traders lose in the first year, i mean that you need to start trading like you are in the 95% until your experience proves you are wrong. Is not a good trading plan and to start trading like you are in the rest 5%, because we dont know that yet. We are just trying to help you, because you are making statements based on a 10% one winning week. Maybe you are, if you make 10% a week for more than 4-5 months in your first year of trading, then you are definitely a natural.

I have made 10% a week also, for many consecutive weeks. Please understand that we are not comparing each person to another. Is not about comparing, is about this: At the beginning you dont know if you can make it or not, so the approach to trading has to be the same, and if you have better skills than others then great! but you dont know yet! Not after one 10% week! which is great, if you can keep with that for some months.

What i find ilogical, whether you are a natural or not, is that you want to increase your live account based on a winning week. That is my concern, i never said i´m the same as you or that nobody can make it. Why dont you prove yourself that you can make consistently 10% a week for at least 3 months, and then increase your account. Two things can happen:

  1. You are not a natural and you lose money, which is ok because the amount you lose is small

  2. You are a natural and you can make 10% a week for 3 months. Then your account will have grown a little, and is time to increase your capital by sending some more money. This is the point i want to make it clear, if you think you are a natural great, but prove yourself first before sending money.

The second scenario is this: What happens if you avoid the advice given here and send more money to the account this week:

  1. You are not a natural,so you lose money, and you are worst that in the first scenario because the ammount lost is bigger. it doesnt matter that you dont need the 10,000 dollars, is better to have them than losing them.

  2. You are a natural and you make big bucks. Which is great, but the thing is that you dont know now if you are a natural or not. So this has the less probabilities of happening, and i say it again: it doesnt mean it cant happen, but first you need to prove yourself.

And the third scenario is this: You follow this advice: first you make 10% a week for 3 months, and then increase your account, then your chances of making money are bigger because you have made consistentely fot the last 4 months.

Have I made my point? Every trader is different i agree, i wish you the best of the luck, i hope you can make it, i just give you advice based in my years of experience, i´m not a bitter person, im profitable it just took me some more years, and if i can give you and advice to make your learning curve grow faster, then i will wheteher you like it or not. I have felt the same feelings that your are feeling at the begginning of my trading career, i´m not comparing myself to you, ipm saying that the “feeling” at the begginning is the same in every trades, what makes the difference between new traders is the decision you make after that. You have two roads: go and join that 95% or be the 5% succesful. You are not in the 5% yet, you are in the road about to turn left or right.

First you need to learn how to walk, before learning how to run. Some traders will learn faster, but everybody has to go for that process. If after reading all this you still want to increase your account before making consistent proftis in a small account for at least 3 months, then…Happy trading …

38

Post your end of week %-value profits on your trading account, and if you are as good as you [I]think[/I] you are, I’m willing to bet the apologies will start rolling in!

What boggles my mind is your double-standard on the importance of training. Obviously you know that your previous Air Force job required much training, and that you were only as good as you were because of that quality training. Yet you come into “our” world of trading and do not give the same respect to the importance of training.

How would you treat some pro FX trader that came onto your Air Force base and said he had a “natural feel” for flying F-16s…

39

-Have you even read the post? that is the point of my replies …

-I keep hearing this statistic, but what is this statistic based off of? I haven’t found one source of this stat here from all of the ‘top contributors’.

Please don’t tell me this stat is based off of the personal experiences of there members here only!

-Replace ‘we’ with ‘I’! Many people are using the status qua. I understand all of this, but like I stated, trading is all done in theory. None of trading is fact, it is 100% theory. Maybe I have developed a new theorem! Or maybe someone else who is profitable has also.

I have to lose $13x.xx In order to break even, & then lose more to lose profit. So with 10pip stop loss, I have 13x the chance{s} on ‘bets’ that I can make. So far my best ‘educated’ guess/bet has paid off. To maintain the rate I am going, I have to perform at 55% of my success rate of last week. So in summary my performance has to meet 1/2 the standard @ 13x the chance of losing. Hate to say it, but the odds are on my side.

STATS are on my side, It seems to me that at the beginning you either lose or win & if you win {according to most here} you can’t keep it up for much longer. I think the problem is that you {general audience emphasized} get to excited that you have seem a profit instantly & that is when your logical thinking goes away and mistakes are made.

I am not going to let my profit’s get the best of me, I am going to play my hand of cards the same.

You might not have said this, but it was implied that no one can make it by some.

I completely disagree, it isn’t about being a natural, it is about understanding & applying fundamentals and the correct theorem. Being natural applies to natural abilities. The understanding of it might be natural, but you have to apply the fundamentals in order to gain. No offense, but it is apparent that you haven’t read or read over much of this topic/discussion.

Again … did you not read the original goals or even most of the post. You obviously did not, not trying to argue. But your scenario’s have all ready been approached & discussed several times over before you even wrote this. Please read entire topic if you are going to post.

I have been walking for a while now. It seems that you might understand this logic, but MANY here don’t. You are the only one I read that recognizes that someone elses abilities have have been or will be developed faster then your own & you are one of the only one’s who also understand that some others might achieve what you haven’t a whole lot faster.

I have turned 1,000 into about 1,130.xx which means that I have to lose roughly 12% to be going neg. With my set up, that is 13 + consecutive full loses when I haven’t been through 3 consecutive losses yet. So Not only do I have to perform at less then 50% of my success rate, I also have to have 4x the losing streak I already had.

Like I said before, the only difference between a millionaire & a billionaire are zeros. The equations are the same. With this logic, the gains involved are the same, if I would have had a 10,000 or 100,000 account last week. This would have been a 1,3xx.xx or 13,xxx.xx gain with the exact same theory.

Out of 10,000s of different ways to trade, maybe I picked the correct tools for the trade. Maybe ‘newbies’ are discovering electric drills while the ‘old guys’ are still using screwdrivers!!!

@gasanvill, you are absolutely correct, but you are one of few to recognize that everyone has different talents & what hasn’t been done by yourself may be accomplished by others. I NEVER claimed I was going to make a profit, I was just told it couldn’t be done & I said “it has been done”.

& to everyone else who replied … All I hear is “STATISTICS STATISTICS STATISTICS” BUT I have yet to see any reference for any of these stats so please post the reference to all stats including the ‘95% go belly up with no profits’.

*** from akeakamai ***

"Post your end of week %-value profits on your trading account, and if you are as good as you think you are, I’m willing to bet the apologies will start rolling in!

What boggles my mind is your double-standard on the importance of training. Obviously you know that your previous Air Force job required much training, and that you were only as good as you were because of that quality training. Yet you come into “our” world of trading and do not give the same respect to the importance of training.

How would you treat some pro FX trader that came onto your Air Force base and said he had a “natural feel” for flying F-16s… "

Please read the entire post. I never claimed to be good … NEVER. I simply replied to ‘you can’t be profitable’ with ‘well i was profitable’.

-Training isn’t a huge factor in this compared to developing your own theory.

When it comes to electronics … electricity, amperage, ohms, etc. only works one way. You learn that way … and you practice troubleshooting.

In trading, you develop the fundamentals and then apply your own theory/strategy to how it all works. i SIMPLY stated … if you read … that I might have developed a working strategy in less time. I admitted I might lose it all and that would be okay with me.

‘natural feel’ for f-16’s … actually that is why there are recruiters… you know … to recruit these people!

40

you didn’t post that? Denial is a fatal flaw in this business…

You are right that you develop your own strategy but you have to remember that there isn’t a POOL of profits which you have access to, if only you have the right password or something. The market is 100% competitive. The only money you will make is from money that someone else is losing. So your strategy doesn’t have to be RIGHT, it has to be COMPETITIVE, do you understand the difference?

41

…A trader without a plan is a time bomb…

42

Wow, you should be a politician!

You point out one single reply of mine. If you actually READ my replies, I state that it takes knowing the fundamentals to develop your theory on how the ‘trading’ works.

Yes I do think I have the ‘natural feel’ for this … but … you forgot to quote EXACTLY what I said that you are referring to.

-“I completely disagree, it isn’t about being a natural, it is about understanding & applying fundamentals and the correct theorem. Being natural applies to natural abilities. The understanding of it might be natural, but you have to apply the fundamentals in order to gain. No offense, but it is apparent that you haven’t read or read over much of this topic/discussion.”

Yes I did say I think I have the ‘natural feel’ for it but AS I STATED, it is about understanding & applying the fundamentals & correct theorem. Once again READ ALL THE POST BEFORE YOU REPLY!!!

@gasanvill

"…A trader without a plan is a time bomb… "

understanding fundamentals & developing a theory doesn’t qualify as a plan?

are you serious?

and again, no one seems to be able to read OR show the stats that they are referring to.

I am asking for a reference for all stats… ESPECIALLY the stats that show it takes 2-5 years or whatever to be profitable & the stats that prove the 95% don’t make a profit their first time around.

This is comical at this point, nothing to back up opinions based on personal experiences. A bunch of politicians in the making.

so please before you reply, actually do some reading instead of just making 1+1=3.

43

A professional trader of 30 years told me that the learning curve is 2+ years. Also, I believe he told me once the institution where he worked hired a new trader, they were trained for 2 more years before being set loose with their funds. He also told me to trade the daily and up. Pretty sure he also referred to the 95% failure rate.

On a side note you might want to look at scalping pivots and S/R.

Edit:

That professional is also on this forum.