Talk to ME :)

I agree, you will not get a straight answer here of what everyone is making through trading…Just take their word for it and tested it out yourself. It’s different if someone is selling something or claiming that they are wealthy and would like to " show " you how they did it then yes you need a proof. There are some exceptions that someone will show you how to trade a certain strategy with proof showing that it can be than… Take a look around… You’ll see :slight_smile:

Great idea nice thread. Here’s my contribution. When someone really gets you upset. Try this one " do the world a favor and never reproduce"

If i may, i like to add to that. After you say " do the world a favor and never reproduce " say it with a smile. It’s my way way of killing them with a smile softly.:21:

Just a rant about how I see Forex right now. I don’t understand how there isn’t a holy grail. If someone is a consistent winner, that means their system should be considered a holy grail. The only reason a system wouldn’t be considered a holy grail is if there isn’t concrete entry and exit rules and was left up to the trader’s interpretation or instinct. Furthermore, what’s frustrating about Forex is the lack of good information. Nobody ever reveals what they’re making so you NEVER know how credible they are. Any method or indicator can look good in hindsight, such as the simple idea of longing above a MA and shorting below a MA, but it’s a completely different story when trading it in the moment. Then there’s the idea of using your own approach to Forex, so everyone is doing their own thing in secrecy. I’m relatively new and I’m currently struggling with my trading plan. It’s a mix and mash of things I’ve learned from various methods. I think the answer to these questions is the key to success.

LOL!! Ohh you knew that? funny! yeah, that is why I keep myself busy though I would like to banter from time to time but nah I could use my time in a productive way… thank you!

…a smile will “Killing them softly” :slight_smile:

Have you gone to Babypips school at all? If not then I would suggest to go there first so you have a basic background. I will focus on Support and Resistance first then candlestick pattern (for technical) indicator/s not so much but its good to know what those are… it is my preference by the way. Demo trade for a few months. Observed the currency pairs that you choose and how these prices moved and what drives it. Be aware of the economic news release/events even if you decide to trade it or not. Interest rates/policy changes and or key speeches, unemployment numbers are the most volatile days so watch out for those. Write down what you saw and try to practice to predict where this price is going base on your own technical/fundamental analysis. Try every thing one at a time and see which one you like. When you did all of it and you still got questions, asked your specific questions and I am sure our experienced traders around would be happy to help.

I understand that it feels like a “secrecy” but it is not. Sometimes, it is just hard to explain how we trade in our own words. Some people will get it some people don’t. Everyone is unique and different. Trading is a personal journey. You have to find out what works for you and what its not…I hope it makes sense.

I think the answer Kashix is not to judge a system on how much money it makes. After all, this will be entirely dependent on the traders account balance. A more accurate indication of a systems merits I would suggest will be either the percentage gain or pips over a given period… perhaps 3/6/12 months or year on year. This data is freely available and verifiable.

Do you know why some people are having a hard time to get enough sleep (except for medical reasons), to eat properly, feeling depressed, and sometimes what causes them to gain or lose so much weight? One of the main reasons is Money or I should say lack of money. They worry about how the next bills will be paid and how to stretch that cash until the next payday. Afraid and worried about when the collector starts banging on their door and threatens to repo that fancy car or a collection agency who keeps calling at home…. Or maybe an ex-girlfriend/wife who are keep asking for additional money for child support…

Most of these people do earn money and have jobs, self-employed, or maybe a business owners but it seems like they still can’t get ahead. Why is it that if they earn money they are still struggling financially? …because they have so much debt. Debt is the biggest barrier for anyone to prevent them in order to build wealth. What are the types of debt? Mortgage, student loan, credit card, car loans, personal/business loans, or even a loan from your drunk uncle Larry, or from your annoying sister, etc. I am not going to tackle on how to get rid of all debts. I will leave that up to the professional advisor. However, I will pick the credit card debt as an example because this is the most debt that everyone have and the most popular.

Credit Card is a plastic card that comes with different colors and style, sizes not so much and it is easy breezy to use…you feel powerful and confident to swipe that thing and off you go with new items. If you pay the balance every month it’s okay but if you cannot pay for it or worse keep the balance for months/ years and treating it like your annoying “pet” that you cannot get rid of then that is become a problem. Credit card debts no matter how you look at it because of free flights, points, rewards that you get, it is still a debt that needs to be paid. Get rid of it until it is in 0 balance and hope never use again… Besides, I have never heard anyone who becomes a millionaire using their Discover Card with their bonus points…

[I][B]“We buy things we don’t need with money we don’t have in order to impress people we don’t like.”[/B][/I]

A new and aspiring trader comes to the site and other forums holding on with big dreams to become wealthy and rich. You will see some very optimistic post on here like “how to turn my $1000 to a million in such and such months/years”. They feel confident and very sure about it because their “spread sheet” showed them how to of how much of a return every month they can make…If it is so easy to calculate it on spread sheet, it must be easy to have that kind of return in trading. Well sooner or later, they will find the reality that it is harder than they think. Profit from trading is what they are “hoping” or their ticket to get rid of those debts and to support the lavish lifestyle that they can only dream off.

Few people will succeed as a profitable trader/s that’s a fact. To those who cannot succeed in trading no matter how they/we tried, there is still another way. Trading in Forex is not the only way you can make money on. You can either focus on your current job (climb in a corporate ladder as high as you can) or try other businesses that you are interested in. The most important is whatever you earn every penny counts and use it to pay off all the debts… Imagine yourself in years head that you don’t have any payments in the world!! (no car payment, no mortgage, no student loan, no credit card debt, etc.) and all of what you’ve earned is yours to keep. The money that you use to pay for those debt every month you can now use to maximize your retirement fund, savings, and other form of investments… and still have money left over to travel…how cool would that be?

[I][B]“Money that you’ve earn is your tool to build wealth”[/B][/I]

The first thing that tell’s you there is no holy grail, is that there are so many different ways to trade in the forex. The 2nd thing that tell’s you there’s no holy grail is no long term trader tells you: it’s easy, there’s a holy grail, buy this course, take this mentor, for instant success etc. Your system although may originally come from someone or like in most cases a lot of someone’s, it still has to be personalized and tweaked from time to time to suit you based on: your trading style, your current living situation, money situation education etc.

What’s the difference what someone makes or tells you what they make? If you choose to use that measure to guage, you have to to with all the facts. Even if someone took 50$ using the dippsy dew system and turned into $500,000 in 60 days spending 5 minutes a day. Then showed you their bank account, their documented tax returns, 300 signed oaths in blood that results are true. It doesn’t mean anything. Because somewhere in that presentation has to be. Just because I did it, doenst mean you will. Forex is a risky business…bla bla

If you want to talk about moving averages or any indicator, it’s always the same; you need to know what the indicator is for, how it does it. When you know that you will be able to say when someone says to you; oh you have to use a 500 SMA 200 SMA and a 300 SMA as your entry and exit points on the weekly charts it’s the bomb. If you trade a scalping strategy and you knew what those indicators are and do, you would be able to say no sale, my trading style, which is based on me doesn’t fit with those 3 indicators

You can apply this strategy to anything you do in life.
1st learn to crawl 2nd then learn to walk, 3rd learn to run & 4th run a marathon.
You learn to crawl by studying and practicing what you studied. Once you have a basic knowledge, you can stand up and walk. While walking you’ll be learning and practicing to get the bugs out of your strategy, then go to the run and learn more and practice more with even better results and lastly the marathon, keep learning, running taking no prisoners and shouting as you go: Long term. . . Some will, Some won’t, So what. . . NEXT.

Of course if you don’t want to do that, you can keep looking for the dippsy dew system

Lol what is dippsy dew system means? Its sounds more like Tipsy…its too early for that…lol

Invented by the same person who sells maps to get to the fountain of youth :slight_smile:

Okay guys… here it is. I will put myself in your shoes for a moment but not too long because I don’t want to get stuck in there lol

What drives men to make money or increase what they currently or already have? Is it to feel more powerful, an ego boost, and confidence? Is it to impress the ladies that they come across with by showing how much money they have in their bank account? To show their life partner/wife that they are a good provider? Or maybe it is because they want to feel and be like a MAN? Money can help some of these to some extent however a man whose only focus on one thing and one thing only (such as to make money) will not make them a man. They were called man because…

• They can build things.
• They can survive in the wild.
• They are financially successful.
• They are refined and charming.
• They are artistic and romantic.
• They are wise.
• women flock to them.
• And a cute1920s style mustache (hmm… don’t know about this one personally lol).

Do you know why Spartan Man looks so attractive to female? It is not just because of the outfit (well, it could be part of it) but because the character that was played. A Spartan Man are strong with foes, respected his wife as an equal, fierce hearted yet wise-minded, he protected his family yet welcomed a sense of duty, he was fearless individual yet was part of a larger group, he was successful in his endeavors but wasn’t consumes by “success.”. So, how do you connect with your Inner Spartan and be a man? Your subconscious fears will act as a high-powered GPS for discovering your own core of manliness. Make a list of what you fear the most and do/ apply them accordingly.

Here are some examples:
Being successful, but unfulfilled.
Being Broke.
Not knowing how to fight.
Being rejected.

What makes a man? Let your fears be your guide. Burn the ships. When the only way out is through, you will be astounded by your own strength. When you are living at your edge, with an open heart, fully aware of your fears yet no longer governed by them….be a Spartan!

You forgot to mention those AAB graduated with high honors who think that their brains will lead them anywhere. Do you really think I got into this because I wanna be more attractive to the ladies? C’mon… I am atractive already and I really don’t need the money. I really don’t need a fancy car and I really don’t wanna chase a woman who only cares about my money and how do I look. If she likes a geeky freeky bastard she is the one. Looks will not last forever.

You are right. I didn’t mention any of the high educated men such as Doctors, Lawyers, Accountant, Engineers, those who have Master Degrees or PhD degrees. I didnt disregard them I think what they have accomplished from their studies/ work as a profession are very much admirable in that regard. I am basing an example of a Man by himself with or without any educational background attached to it. Fear is what sometimes ( if not often) what prevent them from succeeding. Men have fears too like women. Some Men don’t show that kind of emotions because they will feel like less man so they keep it to themselves…

True looks will not last forever but having the intelligence and looks will get you far :wink:

Well PipNRoll, since you are the unofficial face of psychological profiling here on BP (not sure what Dr. Pipslow will make of you usurping his position? :18:). Riddle me this? What psychological make up in your opinion makes for a great trader? Now before you answer, might I suggest you check out ‘[B]Floored[/B]’ Floored: Into The Pit - Epic Trader Movie! - YouTube if you’ve not already done so? Its a surprisingly interesting watch and certainly illuminating re the professional traders take and err predisposition! :smiley: Steely eyed missile men or Alpha types? :33:

Thanks for the responses. While I do agree with what all of you said, I’m going to rebut a few points for the sake of discussion. Feel free to respond or not respond.

I agree that it’s all about the pips and percentages and not profit. But where’s this data? I rarely see people post their results.

My strategy is a mix and mash of what I’ve been reading precisely because of the lack of concrete information. If the presented strategies were comprehensive, then there would be no need to integrate multiple strategies. What I’m getting at is there IS a holy grail for each type of trading (scalp, intra, inter, swing, position), holy grail being defined as the most profitable way to trade, that’s humanly possible. Ok, I don’t know what you mean by trading style. Current living situation? Do you mean the time you have available to look at markets? Money situation education? What’s that? etc? All those things could be fixed easily if you had a working system and a stable mind.

It’s really not hard to explain how we trade in our own words, UNLESS you yourself don’t know concretely how you trade. People will get it if you explain it clearly. Everyone is unique and different. Alright, I agree. What does that have to do with anything? Trading is a personal journey. Yup… I’m on my journey but why can’t we journey together and share ideas?

You’re making Forex sound like martial arts or something where there is no best style… I guess the market is unpredictable and dynamic enough that different methods can’t consistently win and therefore can’t be superior to another. Ahh I answered my own question.

Lol…shhh is all planned out …don’t say it out load :27:

Okay, I’ll watch it and Ill get back to you… Thanks!

On a retail level there are many sources. DailyFX is just one example (a spin off of FXCM). There you have several strats to choose from, breakout, momentum, swing, etc. With entry, take profit and stops. All with documented results. If you subscribe to this service you’ll also get the benefit of their professional traders thoughts, trades, etc. And perhaps more importantly why? Then there’s ‘Myfxbook’ and others, where you can access top traders strats and performance. This is just the tip of the iceberg for the retail trader.

EDIT: I should point out that I am in no way affiliated with FXCM or Daily FX. That said, on a professional level these guys are top draw in my opinion and often quoted in the press. Nuff said! :cool:

It is an interesting video and an eye opening. It is good to know back in 1980’s, 90’s or even 8 years ago how these traders do trades. I have notice that floor traders back then mostly are Alpha male. They yell, punch, spit on their faces, and curse each other out. They are mostly risky traders as well. They like to bet all in and they seems don’t have a proper money management. They don’t care if they will use the money for “betting” that supposed to pay their rent/mortgage or car payment. If they win, they will bet some more until the last drop of their money. There are traders who are successful during those times but it seems like mostly are not (well at least the people who were interviewed). The psychological levels are way down to almost to the point of depression and it seems they cannot move on into their lives and holding on to something that it is hard for them to let go.

Now we are in this new era of computer traders, programmers, etc. Even if still relative new, traders that mostly run by computers, it seems like they are more relax than before. It also seems that traders are more knowledgeable today. A massive information that are now available for free right in our finger tips… so it is not that hard to find the answer that you are looking for. The market is now connected globally so everyone can take advantage of every opportunity everywhere we go. Not to mention a mobile phone that you can now trade anytime and anywhere.

I think what makes a great trader is a person who knows how to adapt with the changes when it occur. Some former floor traders back in the 80’s-90’s are having a hard time to accept the fact that a use of computer is now the new way to trade so it is hard for him to get back in the game even if he wants to. The market and technologies are consistently changing. We don’t know how we are going to trade in the next 5-10 years from now. So when the market and technologies change….we change. Learn to adapt and do not afraid to try new things even if it is not in your “comfort zone”…

PS: Thanks for sharing the video… I have learn something new today…

I just don’t understand why is sooo important about other people’s results. What works for them doe not mean it’s going to work for you 100 %. Get what ever you like from their method and make up your own.It’s about taken bit here and a bit their and making something to fit ou.