You mean conflicting? Sorry, I didn’t understand the “(they) don’t need to charge as they don’t need the money” - what does this reference to (or what you wrote might be unclear). My memory must be failing me in my old age.
[QUOTE=“JackMarkets;553220”] You mean conflicting? Sorry, I didn’t understand the “(they) don’t need to charge as they don’t need the money” - what does this reference to (or what you wrote might be unclear). My memory must be failing me in my old age.[/QUOTE]
Lol no, it’s me - on this small 'phone screen I read one of Banker’s posts as yours. Apologies. I’d edit that part of my post out but then you’d just add dishonesty to the list of black marks against me!
Thats ok. I can always use ‘poor eyesight’ as a subsequent attack on your trading and chart reading ability and reference this post later.
[QUOTE=“JackMarkets;553223”] Thats ok. I can always use ‘poor eyesight’ as a subsequent attack on your trading and chart reading ability and reference this post later.[/QUOTE]
Lol it would be as strong as anything else you have flung at me.
:35: Bravo. I was going to unsubscribe to this thread glad I didn’t. “The only person I should ever pay attention to while trading is me”. That’s going right up on the " How To Be Successful Trader Wall" beside my computer screen. Now you get a cookie. 
I forgot to mention +1 on the entire post. Once again shows the Never judge a book by its cover .
Completely understand where you are coming from however low IQ or upbringing does not
explain this phenomenon. These people are what I like to call “lottery chasers”
They do not want to do any of the work, they want to feed off the backs of others &
the quickest way possible. These are the guys who trade full lots with an under
funded account & wonder why the market has bitten them. Greed.
They follow signal services, trade straight to a live account, then scream like stuck pigs
when the signals turn out to be bogus. They are chancers.
In fact they have a lot of the traits of the people who have conned them.
Also would like to see a thread of TA against fundie, would be far more beneficial than
another PA thread by some nobody who has just found out what a pin bar is. :lmao:
I can picture it all happening right now –
Some 20 something junior college student is busy surfing porn late one night and mistakenly clicks an add that says “Make Tens of Thousands a Day in Forex – Buy this Course for only $495!”
He, being a student full of aspirations and a seeker of knowledge, Googles “What is Forex” and lands on BabyPips. He reads a post or two and seeking clarification starts a thread called “What is a Pip?”
He gets several answers to his question, one correct answer and four incorrect answers from fellow porn surfers… er, seekers of knowledge.
Armed with his newfound knowledge of what a pip may or may not be as well as what forex is or is not, he opens an account with Friday night’s beer money to make thousands per day just like the aforementioned pop-up advertisement said he could do.
He puts all of his account on a short instead of a long, there is a three pip move against him and he gets a margin call. Bust.
He starts several new threads in quick succession: “Is Forex a Scam,” “Who is the Best Broker,” and his “Holy Grail Trading Strategy – I Found It!!!”
He blows his next account (money he was saving up for the movies on Saturday night) and dejected, looks for that ad on the porn site again. He can’t find it so he comes back to BabyPips and subscribes to the threads with the highest reply counts which belong to various commercial members and threads entitles “100% Accurate Trade Signals.”
[QUOTE=“JohnLeonard;553273”]
I can picture it all happening right now –
Some 20 something junior college student is busy surfing porn late one night and mistakenly clicks an add that says “Make Tens of Thousands a Day in Forex – Buy this Course for only $495!”
He, being a student full of aspirations and a seeker of knowledge, Googles “What is Forex” and lands on BabyPips. He reads a post or two and seeking clarification starts a thread called “What is a Pip?”
He gets several answers to his question, one correct answer and four incorrect answers from fellow porn surfers… er, seekers of knowledge.
Armed with his newfound knowledge of what a pip may or may not be as well as what forex is or is not, he opens an account with Friday night’s beer money to make thousands per day just like the aforementioned pop-up advertisement said he could do.
He puts all of his account on a short instead of a long, there is a three pip move against him and he gets a margin call. Bust.
He starts several new threads in quick succession: “Is Forex a Scam,” “Who is the Best Broker,” and his “Holy Grail Trading Strategy – I Found It!!!”
He blows his next account (money he was saving up for the movies on Saturday night) and dejected, looks for that ad on the porn site again. He can’t find it so he comes back to BabyPips and subscribes to the threads with the highest reply counts which belong to various commercial members and threads entitles “100% Accurate Trade Signals.”[/QUOTE]
Hahaha! I guarantee you that has happened.
Somewhat true, except that rather than beer money or cinema money ($20), they tend to put $500-2000 into it (I guess this is their student loan money, or the money their parents gave them to see them through college and buy books).
The newly unemployed (since 2008 youth unemployment has been at record highs) are more likely to place their weekly government allowance or their severance payment of $5000-10000 into it). These new unemployed are desperate to seek a reliable form of income, and are the prey of the internet second hand forex merchant. Also minimal wage people who are desperately seeking to avoid a lifetime of drudgery will place their yearly savings into it, and a guru who speaks in a simple and enticing enough language takes advantage.
Peterma,
If you are looking for a thread were a trader successfully combines simple straight forward TA set ups with FA & news events, check out some of the posts in this old archived bp thread.
link to the http://forums.babypips.com/show-me-money-daytrading/45351-trading-indicators-14.html#post388178 thread
Please note and spend some time reading Mr banker’s posts, he/his presents some smart easy to understand trading methods.
You may be right. Unfortunately.
When I was in high school a million years ago we had to take a basic economics class (supply/demand curves, GDP, trade deficits… all that boring stuff that I have long since forgotten but folks like Pizza have put to good use). Anyway, the class also included a personal finances module or two. For some reason, that part actually stuck with me. It had the personal finance pyramid – something I am sure is no longer taught anywhere.
The lowest and broadest level of the pyramid was income. The better the job you had, the higher the income and broader the base of your pyramid.
Next was savings. A portion of that income should be set aside in a savings or money market for emergencies but easily accessible (it was 3-6 months worth of income).
Next was insurance. Protect your financial well-being!
Then came retirement. Direct at least 5% of your gross earnings to broad market investments, preferably tax deferred (mutual fund investments in IRAs and now 401(k)s and the like) in addition to pension plans and social security.
Next was savings again. Save up your money for purchases – never buy on credit!
Next, invest in a handful of outperforming stocks to create a small portfolio, rebalancing it every quarter.
Then, purchase an affordable home with no more than a 15 year mortgage and put at least 20% down, preferably more.
Towards the top of pyramid was were it became very high risk/high reward. Using the excess capital you generated above and beyond all of the previous steps – and only then – you could start a business or
<drum roll>
Speculate.
Too many people are building their personal financial pyramid upside down and then wonder why their financial world topples over.
Just my opinion. People don’t like to work anymore.
[QUOTE=“d-pip;553284”]
Peterma,
If you are looking for a thread were a trader successfully combines simple straight forward TA set ups with FA & news events, check out some of the posts in this old archived bp thread.
Please note and spend some time reading Mr banker’s posts, he/his presents some smart easy to understand trading methods.
[/QUOTE]
That banker guy had some good things to say. I can only take it as a compliment that some of you think it is I.
Here was a post from him to ICT two months before ICT began his myfxbook which he publicly blew… Leading him to leave the forum. That guy nailed it.
Yeah, old Mr banker appears to be a Top Notch TA trader too! Wonder if he/his could grow a 2K account up to 12K using just some simple straight forward TA set ups? Probably not… 
LOL
[QUOTE=“d-pip;553300”]
Yeah, old Mr banker appears to be a Top Notch TA trader too! Wonder if he/his could grow a 2K account up to 12K using just some simple straight forward TA set ups? Probably not… LOL[/QUOTE]
He answered that himself…
And
Right, no doubt about that. Just a quick read through some of Mr bankers posts on the “trading the indicators” thread and you’ll see he followed and paid close attention to FA & news events.
But what impressed me the most were his/her “almost picture perfect” TA entries. I suspect Mr banker could have all the FA knowledge in the world, but without his/her top notch TA experience & skill would be a failed trader.
link to the 301 Moved Permanently thread
Read through and study his/her posts on the “trading the indicators” thread, I think you’ll see what I mean. IMO after reading through “trading the indicators” thread Mr banker seemed to be making more $$$s watching BUEBs, BEEBs and trend lines than monetary policy.
[QUOTE=“d-pip;553309”]
Right, no doubt about that. Just a quick read through some of Mr bankers posts on the “trading the indicators” thread and you’ll see he followed and paid close attention to FA & news events.
But what impressed me the most were his/her “almost picture perfect” TA entries. I suspect Mr banker could have all the FA knowledge in the world, but without his/her top notch TA experience & skill would be a failed trader.
Read through and study his/her posts on the “trading the indicators” thread, I think you’ll see what I mean.[/QUOTE]
Lol ok here’s another of one of his posts that would seem to respond to this…
He clearly believes FA is primary… TA playing a secondary role. The implications are that TA’s only purpose is to reduce the length of time stuck in any given position through a more precise entry. If you started flipping coins to decide when to enter in the direction of the fundamental bias you would still have enough edge to make a good deal of money… Some elaborate Money management and position structure techniques would fill the void of TA to minimize risks and boost profits. Central to either technique will always be FA.
But you’ve got to admit, Mr banker had a tight TA game plan. Lol ok here’s another of his posts…
link to http://forums.babypips.com/show-me-money-daytrading/45351-trading-indicators-13.html#post388656 thread
Got to love that “Nice little trifecta of confluent supporting factors” TA speak! 
[QUOTE=“d-pip;553321”]
But you’ve got to admit, Mr banker had a tight TA game plan. Lol ok here’s another of his posts…
link to http://forums.babypips.com/show-me-money-daytrading/45351-trading-indicators-13.html#post388656 thread
Got to love that “Nice little trifecta of confluent supporting factors” TA speak! :D[/QUOTE]
Lol… -_-
The fact he knew TA should give him even more credibility when pointing out its limitations.
I dare progress this talk one step further to point out that it’s more specifically the perspectives, opinions, and consequent decisions of market participants that actually move price and fundamental factors are very important to the participants with high capital influence.
At the same time, there are plenty of traders who either incorporate a fair mount of TA or are very heavy into TA, which then makes it more applicable. Algorithmic trading also inherently relies on TA methods which plays a role. (Funny enough, on that same token there are algos that play off of the variances in news releases which is why the knee-jerk reactions to data prints vs expectations seem to happen so ****in’ quickly and could be another point argued for the understanding of FA and news)
Meanwhile other parts of TA I would describe as simply visual representations of mathematics that still align with your overall perspective / system / methodology and just reduce the strain on yourself, allowing more mental capital to devote to other things.
All of these are good reasons to keep an eye on TA factors, but the esoteric **** being far less important than basic stuff because the basic stuff is more widespread.
A few basic trendlines, s/r levels, and moving averages encompasses what is probably the very, very large majority of what many TA traders follow (in one way or another), which then does add some usefulness to them. That usefulness, however, does not necessarily mean a direct trading signal or otherwise direct instructions on how to trade. It simply is one more factor to dissolve into the solution that is the bigger picture. In the example listed, seeing a high confluence of commonly-watched TA factors, in the absence of strong influences elsewhere, will be something to take seriously because it means the likelihood of more participants being involved at that same price point is very very high.
But again, that still all boils down to keeping perspective on the sentiment, emotions, and perceptions of other participants. This still applies to fundamentals as well and is especially important if you find yourself, as a fundamental trader, coming to too many of your own conclusions based on your own economic analysis. That’s not the point. The point is to make sure you’re understanding how the larger players, who inherently are heavily involved with fundamentals, are thinking about these economic events and what matters to them.
The end result, which was strongly emphasized even by BP itself here in the school, is that both sides of the coin are still important. And why wouldn’t they be? You want to make good assumptions about as many of the other participants as possible, so you want to make sure you look at all of the factors that a large amount of others will look at.
/endrant.
tl;dr: Other people matter most so pay attention to what others are paying attention to.
Maybe so…
But again, if anyone is looking for a thread were a trader successfully combines simple straight forward TA set ups with FA & news events, you need to check out Mr banker’s posts on the “trading the indicators” thread.
Link to the 301 Moved Permanently thread
IMO he/his shows some smart, excellent and well documented set-ups combining TA with FA & news events, it’s good stuff!
PS And some cute boy girl flirty action too! :5: