I want to state that I sincerely thank you all for sharing openly your appreciation and thanksgiving for my work. This thread and the few others that have cropped up over the last few weeks are very nice. However, I want to remind you of a few things. In my history as an online persona and a “Guru” as I am referred to as by many… mostly non-interested… I have always created a polarizing environment.
Community discord and division… this has never been a goal of mine. It’s wonderful to read the feelings and emotions of those finding hope in a new adventure and a rekindled hope in a broken Trader finding his/her way. However, I invited folks to email me directly for privacy reasons and to stave off the very thing these forums have seen in the last few weeks. I have always coveted your feedback as my only repayment. I have also asked this to be shared in the medium of email… and this is the reason why.
Folks just coming on to “ICT” or my work get excited. I do the best I can to give presentations to assist you but I am not asking to be worshipped and on the other hand… I am not asking to be stoned for being me. I have read the threads and remarks of a few members of Babypips and I can see what they are referring to… as it has like all the previous times I have stepped on the stage.
I am not Babypips… and Babypips is not ICT. I support this site and it’s goal in providing a medium to allow members to exchange ideas and stimulate discussions on Trading Forex. I respect the views others may have of me and my work. I understand for those who may not click with the things I share… seeing others excited and rallying the troops… could be a put off. I was the same way when I met Larry Williams… it’s only natural.
Now I seen this coming… so I posted a specific date on my thread’s first post. This date has been set in stone as my departure from the forums at Babypips. I am not leaving in a huff, nor am I running from the angry natives. I will have delivered all that I have set out to do and share. I stated elsewhere that I would eventially return Babypips to it’s pre-ICT condition and I will like the previous visitors that no longer frequent these forums… will be a shadow that occassionally is mentioned in conversation here and there.
If you are wondering if I am dropping off the radar… no I am not. I will do what I stated I would do and sync a Live Account to MyFxBook and post a weekly journal of my trades. This is for me more than you… as it is a personal goal and “challenge” I have set for myself. For any of those wondering about my ability as a Trader… I will simply say watch and see.
There is a growing toxic sentiment in these forums that I tried to avoid from manifesting but I am only one person and I can not control the actions and posts of others. If you are excited and want to share that with me… email is the ideal medium for that. Many folks find it annoying to see excitement and yes… almost childlike adoration for another that has wore his heart on his sleeve.
I am not attacking or flaming those who spoke out at those supporting me… I understand you. I read that the remarks were not aimed at me personally… but that’s hard to swallow and agree with frankly. I can take a good ribbing… I can be the source of slapstick humor… I am secure with myself. So please do not misunderstand this post… I appreciate those of you who support my work. I simply request you share your thanksgiving with me… in whom soley requested reading it.
My prediction… You’ll have your live link for your performance for a few weeks… Maybe a month or two… Then poof… You and the link will quietly fade away.
Interest will fade as your performance underwhelms… And the only option will be to walk away quietly… Under the pretense that it was always the plan
I’m starting to think that your “departure” had something to do with ICT?
You only ever resurface whenever his name is mentioned. Does he really irk you that much?
Too many people asking the same thing over and over again… Too many people only interested in cute gimmick systems… Too many people pretending to know what they are talking about, and arguing their flawed logic endlessly… Too many advertisers that the mods were letting run amuck… A lack of collective effort from the handful of the seemingly better traders on here to maintain threads where they were actually calling live trading setups and posting screenshots and analysis in real time… And of course the main “guru” and the other ones that popped up from time to time that everyone got so easily infatuated with… There isn’t one thread on here maintained by someone who is trading like how “professionals” are trained to by banks… And that is actually off of fundamental analysis (capital flows, central bank policy, geo political events) - case in point, the main market mover currently is the fiscal cliff… Not a single thread mentioning that in the last few days… In the end… Only so much fun I can have answering the same questions that keep getting asked by beginners who don’t know what google is…
Fair enough.
So start a thread using the methods you mention.
I didn’t know you were trained by a bank, but I know that you use fundamental analysis, so why not be the one to do this.
You can’t fight an entire community, but if you want more of that then start it. My fundamental analysis sucks, I would follow along if there is something to be learned.
I agree Babypips is becoming boring, and it needs some kind of balance, but I’m seeing too many people complain and do nothing about it. There’s a few threads at the moment where people are just moaning about the culture here, you’ve seen it I’m sure. Long, essay like posts showing off their wonderful articulation and wit , you have to wonder if they go back and read their own posts just to feed their egos. Those posts are becoming just as boring as newbie questions about brokers etc.
So I’m waiting for your thread, don’t jump on the bandwagon of complainers. We all make up this site. If I had something to offer right now I would. But sadly I’m only a developing trader with not much time on my hands. The ones like yourself with knowledge, experience and profit to boot should stand up and make a difference or else… well I guess you have already left. See my point, how sad that could become. All the good guys will leave
If you all do that then you make room for the sharks, the clever scammers, and from what I have seen, they are evolving. You won’t even recognize them.
Maybe you’ll see one from me… In the meantime the most valuable advice a developing trader can get is to get serious about fundamentals… Go to each central banks website and read their monetary policy statements… Memorize their inflation targets… Watch the economic calendars, check yahoo finance daily, learn about cross boarder mergers and acquisitions, learn about yield seeking capital flows, learn about what commodities each country exports and imports and the price forecasts of these commodities… Keep tabs on elections, and what the likely party will do to the monetary policy (case in point last weekends Japanese election was won by a candidature who adamantly supported unlimited easing… Look at how that weakened the Yen leading up to the elections)…
These are things that cause the market to move… Spend your time on those and less on trying to find some repeatable chart pattern.
It’s boring to wade through economic reports and trying to interpret what is significant and what isn’t, that’s why people ignore it and focus and the fun technical stuff… That’s all fine and good (it is helpful for entries and exits) but you need to know the underlying mechanics of the market.
Trends are caused by shifts in fundamentals… And these shifts are clear as day, just have to re direct your focus on anticipating those shifts instead of the charts.
Charts are a derivative of the constant flow of information coming from all over the world… Learn how to obtain this information (the tools are available on the internet free) and than learn how to interpret them… Your edge is significant when you know where the markets SHOULD be going.
If you read my previous post you’d notice i mentioned that its helpful (read necessary) to learn technicals for entries and exits… Nothing for you to counter argue there.
If you want to argue whether or not your emphasis should be fundamentals or not… Honestly ask yourself if you think the traders who actually get paid to do this for a living (yes they do exist, and get paid quite handsomely) rely on simple chart patterns…? Do bankers and hedge fund managers move millions of dollars, ignoring what is going on around them in the world, just focusing on a neat pin bar that just formed at London Open… Your smart enough to think through that one (not being sarcastic here).
If you spent anytime at an actual trading floor you’d notice something… Traders are watching news streams more then they are charts… shocked face
In the trading arena you will never find agreement over this. A bit of criticism should not hinder you from starting a thread on the subject (if that’s what you want). So if you have something to offer, you need to forget the naysayers, they will always be there.
Life can be very boring if we all agree anyway. In fact I tend to agree with AK, believe it or not. BUT, I know that the reason I feel this way is precisely because of what you said earlier about traders wanting to find the easier way, and so I’m willing to learn anything I can that can add to my edge. I believe I have found my (technical)entries. Now to fill in the blanks.
You haven’t answered me yet. What will this thread be called
akeakamai;
I tried to reply to your last post on the committed to trading thread, but it appears that because your buddy cabbagepatchkid doesn’t much like the way the subject matter is flowing, he’s probably putting most folks on thread ignore, which won’t be surprising to the majority of adults on this forum.
Anyway, you appear to have totally missed the point of the whole exercise & if you revisit & read paragraph 3 of post #18 & post #61 in it’s entirity you’ll discover it isn’t about your main man at all.
Perhaps if you all refrained from orgasming everytime he posts something up onto the site & acted your ages as opposed to your shoe size you’d attract a little less heat.
Attempting to read some of the stuff on those threads is akin to battling ones way across a playground packed with 11 & 12 year olds.
But that’s just the side issue isn’t it.
If the love-in was contained within his own threads it wouldn’t be a problem because only those interested in wading through all that crap would be subjected to it.
The escalating resentment currently taking hold across all sectors of the membership, including more of the senior guys, is the fact you can’t post on or open a neutral thread on here lately without being spammed by cabbagepatch or another of you puppies preaching the gospel according to your main man.
That’s what’s p*ssing off a lot more folks lately.
By all means immerse yourselves in whatever takes your fancy, & I’m sure the more observant newbies who take a tour around the forum can’t fail to miss the various offerings, but is it necessary to spam virtually every thread containing a newbie question or query with a re-direct??
Contrary to popular belief there are other equally relevant threads & well meaning individuals on the forum offering logical, sensible & a whole lot less comlex information for new entrants to digest on here.
Unless the moderators start getting a grip on this thing pretty soon they’re going to find themselves dealing with a divided forum, & that’s not going to be in the best interests of anyone, let alone the innocent & naive newbie.
A couple of months back I was searching for a specific item of information on another site & I got linked to a thread started by someone called Michael Parker who posted under the username of mp6140.
I wasn’t entirely surprised when I also hit up a link from that thread to one started by him on here a few years ago.
The general theme, the manner in which he promoted himself on the forums, the typical resulting fanfare & idol worship etc is all very strikingly similar to your trading saviour.
Apparently, Parker died of a heart attack in some flea pit of a trailer park in upstate NY, but to hear him (& his devoted throng) talk, you’d think he was the greatest trader that ever walked the planet. What he didn’t know about trading wasn’t worth knowing.
Whilst reading Parker I could just as well be reading Huddleston.
It appears Parker was a fantasist too.
I’ve just clocked post number 42 on this thread.
It made me smile, especially paragraph 5 & the veiled reference to Jesus in the final sentence of the last paragraph.
forgetting about ICT for a moment. What do you think about other senior members of this forum who claim to be profitable trading with only technical analysis (off the top of my head I’m thinking of SimonTemplar and RCarter)?
Oh Simon and I have had our friendly banters over whether or not keeping tabs on fundamentals is necessary… I guess you are trying to ask me if I think it is possible to be profitable only trading technicals…
I’ll answer with another question… Is it possible to kill a bear with a butter knife? Yes it’s possible, it will be a long and painful process that you won’t enjoy though… Not to mention your probability of success is low indeed.
It’s one thing to talk about trading a thousand dollar account for a hobby, where success is considered making a making eighty bucks one month, then losing sixty the next, then winning twenty the next… Just trading patterns and cute little technical gimmicks is fine for that…
Once real money is on the line, and success is measured in terms of six figures a year, take my hint about what floor traders are looking at… News, central bank statements, cross market analysis, political events… Quick glance at charts… Back to news, news and more news…
Simon and RCarter are voices of reason btw… Even though they are fighting a bear with a butter knife, they usually have pretty solid input in their areas of expertise.
Gotta agree with Banker. You will find it particularly precarious trying to position or carry trade without paying any attention to fundamentals. Technical analysis most definitely does work on its own, but his point is that understanding and paying attention to fundamentals raises the possibility of success on each trade.
ICT doesn’t tell us to ignore fundamentals in any event. There are so many guys who post on the threads asking ICT “how do I determine the daily bias?” and the answer is so frightfully simple if you give fundamentals their due respect and combine that with ICT tools. Think about the COT charts - those commercial guys are basing their positions on fundamental factors, not technicals. So if you’re using COT charts to determine direction then you’re inherently relying on fundamentals, even though the analysis isn’t your own.
I would say most technical traders look at some of the well known fundamentals(interest/inflation/employment/import/export rates). Particularly if you are long term. Sifting through bank or hedge fund reports I would say is not necessary unless you are a fundamentalist (the big debate on every investment instrument). The biggest problem with banker’s statements(I do agree with some of what he has mentioned) is he thinks he can derive information from publicly made report and statements when big money is going to start moving. First and only trading floor I have witnessed is the Sydney futures exchange and they were not all tuned into CNN or Bloomberg LOL.
