or should you just bet the oposite of what people are thinking they shoud do? or does it actually transform in a game of who calls the signals and who calls the opossite of the signals resulting in gambling?
are you serious with the “expert in human psychology” or just ironic and implying it’s rigged?
I don’t think that is necesarily true - in the sense we generally understand the word.
The bookie has a lot of bets going at any time, some of which will lose (most will lose most of the time) - but that is mainly due to the way the “Market” moves and the way we have been taught to trade it !
And stupid “Wisdom” like " A bird in the hand is worth two in the bush" and “Nobody ever went bust taking a Small profit” - Well in this game they are BOTH wrong !
A roulette wheel is random - the market moves in ways which are complicated and some think of as “Random” - but with a roulette wheel 50% of the time you win say the same amount as you stake (betting on black) - except for if it hits a Zero or 00 That is the casino’s edge.
The bookie takes his “Spread” - whether you win or lose, but you will see the market jump up for two or three bars - sometimes a lot more. What do you do in those circumstances ?
Now you need to read the babypips school and set up and trade a “Demo account”. Treat it like a computer game and learn it’s tricks and devices until you recognise some of them - that then can be “YOUR EDGE” - Just always remember the market is Not neutral - if it was any silly sod could make money out of it - It doesn’t matter whether it is “Rigged” or not - it will Feel like that ! 
Just bet against it until you can guess what it is going to do next, then you can learn to “trade WITH it !”
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ok thank you.
if you are trading (betting) with your bookie, than what does the chart signify if it doesn;t show trades? (because you and everybody is just betting with their bookie, devoid of any connections to other betters)
The charts are the records of some of the trades - because the markets are not centralised they vary a tiny amount depending on which trades the chart provider is working on - but don’t worry about that, if the difference was anything other than very small, “Arbitrage” would take place and the charts woud immediately be brought back “into line” - For our purposes, they are “near enough”.
Sorry to have brought that one up - lol
Hope this has helped to “Put your feet on the pedals” - I hope to watch your progress through the forum ! 
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Hi @alexslabu23,
The ability to trade forex 24 hours a day 5 days a week is the service your broker provides you. This is similar to how your supermarket provides you the ability to buy groceries (though you can’t sell groceries back to them ) during store hours.
Supermarkets buy groceries from their suppliers at wholesale prices and sell them to you at retail prices. Similarly, forex brokers are able to buy and sell currency pairs at institutional prices, and offer you the ability to trade with them at retail prices.
Retail forex brokers can manage the risk on the other side of your trades in one of three ways, and each method has its pros and cons. We explain them further in this earlier discussion: Who is the counterparty in an exchange?
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but if you are trading just with your broker (bookie) and everybody does the same…than how is the chart generated because as of my current understanding people just trade 1 on 1 with their brokers. or does the broker trade with other brokers and that’s how the chart is generated?
i hope my question is clear enough
this is my final question for now, i promise and thank you!
hehe
Sure it is 
the reason i get a bit confused is because the thing AIN’T EXPLAINED PROPERLY, ONLY HALFLY .(even in the course)
you guys are saying that you don t trade with anybody, you just bet with your broker …and than i read something like this on baby pips that says “Because the forex market is so enormous, it is also extremely liquid. This is an advantage because it means that under normal market conditions, with a click of a mouse you can instantaneously buy and sell at will as there will usually be someone in the market willing to take the other side of your trade” witch would suggest that in fact you are trading with other people. so is one or the other true or both?
but the confusion stems further because they can’t both be true (at least in this form) because of the fact that forex has no middlemen (i;ve been reading the course yes)
witch means you ain’t buying or selling to other people trough the broker, so how does it work?
or… you are MISUNDERSTANDING IT and they can both be true, have you considered that ?
I understand, but what is PROPERLY
by WHO’S DEFINITION is it PROPER
clearly babypips can never explain something that EVERYONE will understand… not a chance.
they can only hope to reach out to the majority
you clearly are not understanding it , i think you are looking at it too specifically, to be honest.
No… WE are not
i think @falstaff said that, i might be wrong, but i think it was him that used the word BET
Me personally , i don’t see it as a BET or a GAMBLE
but again… we now get into this conversation of who defines the words BET and GAMBLE in what way
and how is PROPER defined
bottom line, everything is your own point of view, at times you may share a common point of view with other people.
at times you may PARITALLY share a common point of view
i don’t see forex and trading (if done correctly) like going to a casino and GAMBLING in the traditional sense of the word
Now. let me give 2 points of views here
Point 1 - guy walks into a bar … hehe
no… Guy walks into a Casino… yes, a casino…
walks up to a blackjack table , PUT MONEY DOWN TO PLAY 1 HAND
this can be interpreted as A BET also as a Wager, technically you could call it a trade
so we also need to consider THE ENVIRONMENT in which we are speaking
is a BET necessarily bad… NO IT’S NOT
but me personally , i do not mentally like to associate gambling with trading, so i avoid words that are used in casino with trading. now, thats my thing… ok
you can develop your own thing
i think when falstaff says bet, maybe you are interpreting a bit different
you see, you’ll here BET a lot on binary Sites
Now… forex and binary are not exactly the same thing and the risks are far different
but, if you look at it like “Trading is not gambling” the someone on a Binary Site says… “i’m placing a bet” then Falstaff says , I’m placing a bet
you then put 2 and 2 together and say "oh… well… forex then must be a gamble"
then you associate that with a casino
and that leads to another thing and you eventually get to a frame of mind that says, if you put money down on forex, there is no way you will win
WHICH IS INCORRECT
so… you are going too far with this and you are misinterpreting a lot of it, that’s the problem.
yes…
but i could also say this to an electronics engineering student
Because of the nature of electricity , it is very useful
and then… the guy goes on a job site and touches two wrong wires and dies…
how is that useful you might ask hehe
Mate, you need to take things with a grain of salt
and you need to understand that the advice in the course IS GENERAL ok GENERAL BASIC ADVICE
just like Mathematics… YOU ARE GIVEN A SET OF BASE RULES TO FOLLOW
then… HOW YOU APPLY THOSE RULES IS UP TO YOU
you can use mathematics to calculate your wages
or
you can use mathematics to work out how many pounds of weed you have in your plantation and how much money that will bring you when you sell it on the street
clearly the latter is better Just kidding
but, you get the point right…
yes… but again, THIS IS GENERAL ADVICE
it depends how you look at it
DEFINE… I’M TRADING WITH [FILL IN THE BLANK]
now , if you mean, there are other people in the market… then yes, there are
if you mean are you directly trading with them… No you are not, but then you could be hehe
you are directly interfacing with a computer… THAT’S WHO YOU ARE TRADING WITH
and the computer aka / The Broker, finds someone to fill the other side of the trade, or the broker may take it or he may find a third party to take it … it depends.
where did you get that from ?
how are there no middlemen hehe
Your Broker is the Middle man between you and the interbank network… see. MIDDLEMAN
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[quote=“Martin_K, post:22, topic:136016”]
you clearly are not understanding it , i think you are looking at it too specifically, to be honest
Well yes @anon81929759 - @alexslabu23 has my position exactly right.
AS retail we are simply betting with the bookie. If the bookie feels the need to hedge some of his position on the real market because the imbalance in his books is outside his risk profile, that is his prorogative.
However as I have said before - the bookies give us an oportunity to “trade” teh markets, which would be denied to most of us if teh “brokers” were not there.
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Except that it isn’t just a “position”. It’s a factual statement.
Exactly.
When you “trade” with a counterparty retail spot forex “broker”, no currencies are changing hands at all. You’re betting directly a counterparty who may sometimes offset his net liability in an underlying market. But that’s his business, not yours, and it has no relevance to your transaction with the “broker”.
(Unfortunately this reality isn’t mentioned in the Babypips course.)
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Since when has that made the slightest difference here ? 
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there are no middle men (it says in the course right “here”…but “later edit” new users can;t post links,even of baby pips com ) that ;s why, witout any disrespect, i said not all things are well explained on the site.
we do have somewhat different views, but i think we can accept our differences and also reach a consensus.
so …you are trading trough your broker witch is taking your order and placing it against a) his own money b) other traders money c) a whole sale trader contract d) other possibilities
so…(from the course)“Retail market makers basically provide liquidity by “repackaging” large contract sizes from wholesalers into bite size pieces. Without them, it will be very hard for the average Joe to trade forex.” …meaning a whole sale trader can have a contract of 1000 000 units and the "other side " can be taken up by forex retail traders correct? …my question is how does an order like this work if every forex trader gives a different close time? (so the close does not happen at the same time for everybody) …so how can you close unilaterally, ? if i have a buy for 100 and the whole saler has a sell of 1000 000 and i close does the whole saler still have a sell but of 999 900?
witch means he (the hole sale trader ) is selling his 1000 000 unit contract progressively and for chuncks of it at different people at different times and prices?
can this happen to your contract to?
if my order for buy 300 is pinned against a sell of 100 from another retail trader(or it can;t be?) can my order be force closed partially by the other person (for 100) and will i still have a order for 200 buy (300 - 100) ?
i know this information isn’t even very important to trade and i don’t wanna become a broker…but for me it is interesting to know how the system works in depth and to know “what’s happening under the hood”, also if somebody else can close your contract partially or totally at any time is kinda important for trading purposes too.
p.s.: i also don t think trading is like betting…but i tried using the terminology that other users gave.
Martin_K can you please reply to my last post?
@alexslabu23
ok, let me read it
yes… to a degree i agree with you.
of course we can
if you are using the terminology to relate to others, that’s fine
if you believe the terminology , THAT’S A PROBLEM
as for the rest of what you said,
i agree it’s good to know what’s under the hood, i’m like that as well
BUT MATE , PLEASE UNDERSTAND THIS AS WELL OK
-
These concepts are really basic for me
-
i don’t really want to go into them
-
but the main reason , right now (and don’t take this personally ok) I have a lot going on in my life and in my business right now that FAR FAR OUTWEIGHS THIS UNIMPORTANT DISCUSSION.
I have a lot of things on my plate right now, and Respectfully, i would ask that you ask some of the other guys like Trading Viper, Trendswithbenefits, Falstaff , Bob to perhaps answer this is they have the time,
is that cool
I just have too much to think about right now and i know if i answer this i have to answer follow up questions and so on…
i don’t really want to do that right now… ok
IS THAT COOL
thanks mate
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sure it’s cool man, thanks for the reply and bucket loads of success to you and your business!
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also if anybody could help with this: I’ve been reading up on the school of pipsology and am currently reading about candle sticks (I know, really basic right)
and the text is talking in terms " a candlestick has a high and a low , a open and a close blabla " what is a bit funny is that they are using the words open and close…so can you trade only at the open of a candlestick and close at the close of the candlestick, or can you trade at any time and it’s just tht the wording is a bit confusing?
No, you can open a position anywhere during the candle…
Opening/closing of the Candle is Timeframe (TF) dependant… so on say the the 1 Hour Chart, a candle closes on the top of the hour and a new one opens… giving you the open and the close. The TF on a all Charts signifies the time between candles opening and closing…
Say on a 1 min Chart, a candle closes every 60 seconds and at the same time the next candle opens.
Hope this is of help…
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