Which thread /who should I follow?

Beginner Questions
102

To bring this full circle, if I was gonna show you something pretty and shiny, I would show you my car, not my fxBook. I know a lot of EXTREMELY wealthy individuals. And to the man, NONE of them would lower themselves to posting a myFXBook account. Not for FX, or equities, or futures. None of them would.

Now, if you want to do something that might be beneficial, and have some real time ramifications for helping novices (if that’s your purpose anyway) how about you start a thread. Pick a pair, any pair, and we can go back and forth on possible trade ideas. Your fundamentals against my barebones charts.

We can keep a cyber tally. Not about wins and losses so much, but about the wholesale difference in approaches. The what why where and hows.

You game? As I said, you get to pick the pair. Or Pairs. Let’s not sell ourselves short here.

103

[QUOTE=“Master Tang;552398”]

To bring this full circle, if I was gonna show you something pretty and shiny, I would show you my car, not my fxBook. I know a lot of EXTREMELY wealthy individuals. And to the man, NONE of them would lower themselves to posting a myFXBook account. Not for FX, or equities, or futures. None of them would.
[/QUOTE]

Here are a few wealthy people that do…

$170k real money account
http://www.myfxbook.com/members/milliondpips/million-dollar-pips/114107

$360k real money account
http://www.myfxbook.com/members/berezhnoi/berezhnoi/161079

$5.4 million dollar real money account
http://www.myfxbook.com/members/Kondakov/kondakov/161617

104

My idea of wealth, and your idea of wealth are obviously grossly disparate.

I’m talking about people that spend more on vacations than both those accounts put together.

105

[QUOTE=“Master Tang;552402”]

My idea of wealth, and your idea of wealth are obviously grossly disparate.

I’m talking about people that spend more on vacations than both those accounts put together.[/QUOTE]

Checkout the last account… I can only add one at a time since I’m on my phone lol. Time intensive process.

I think a $5.4 million dollar account puts the guy in the “wealthy” category no?

His average expectancy is $4k+ PER PIP

106

[QUOTE=“ILovePizzaMore;552394”] Are you confusing that with the guy who posted a 600% account performance in a 7 month period… How’s the 3 quack method doing for ya :wink: This is where the hierarchy of everyone posting their account results would come in. As far as that goes, Jack has got both you and Simon beat.[/QUOTE]

Lol I thought it was me who swerved points?!

107

This has degenerated into the most entertaining thread on the site.

Someone loses their life savings following the trading advice of someone on the internet? So what? That is a person that is destined to lose their life savings some how, some way at some point in time no matter what because they have the IQ of a shoelace.

Do I require proof of someone’s trading ability on an internet forum before I read any of their posts? No, why would I? They may have something interesting to say regardless.

Do I have a for-profit internet business where I try to round up students and charge them a fee for my advice and tutelage? No. I am 1) not that good and 2) not even remotely inclined to do so.

For me forex is a hobby. Nothing more. I am retired. I can live comfortably (though not extravagantly) on my retirement. To while away the hours I look at charts. I run numbers through Excel. I even <gasp> trade on occasion. Am I profitable? Technically speaking, yes. No, I will not show proof but I will say that I have been making between 14% and 38% (my all time best, if I am not mistaken). Not per day. Not per week. Not even per month. That is per year! Last year was my 14% year. My annual average is somewhere around 25% or a bit less. That is what I make per year trading. That’s it. I place trades when it suits me. I have generally stated my “methodology” a number of times. It is nothing special. Compared to others, proven or not, my trading is abysmal but I am happy with it though I see no reason to not try and improve for the sake of improvement. At the end of the year I remove any profits and start over with the same $10K.

Posting charts and trades as I take them live would be tedious and intermittent. I go weeks without placing trades and I place trades off of hourly charts! If I were to post my trades, the results would look like this:

small loss
small loss
small loss
break even
small loss
modest win
small loss
break even
Woo hoo! Big winner!
small loss
small loss
small loss
Repeat over and over.

Since I do not make 1,000% per year with proven results, does that mean I cannot warn people away from paths that lead nowhere because I have trodden them? Does it mean I cannot say that I find some benefit employing this or that tactic even if I am, admittedly, a very mediocre trader? Does it mean I shouldn’t post here? Perhaps I shouldn’t read anyone else’s posts unless they have a linked myfxbook?

When the trading bug strikes me I look at charts. When I can’t find a trade I like but I am still in the forex mood I goof off on forex forums (or fora for the Brits). I can emphatically tell a new trader to be wary of moving average crossover methods in ranging markets. I can also pick up some interesting ideas that I can play around with on Excel to while away the hours and maybe use them in live trading if it suits me, even if those ideas are generated by someone who has never placed a trade.

I am a big boy. I can read threads that may be of interest or put people on ignore. I don’t care what your results are and I really don’t care why you (the non-specific, plural) should care what mine or anyone else’s results are – unless you are sending them money for training but then it is simply caveat emptor and I still don’t care because it is someone else’s money and not mine.

If someone doesn’t like me voicing my opinion because I do not have verified, astronomical profits then they can place me on ignore or simply read past my posts.

This thread is a hall of fame contender for silliest thread of the year. Excuse me while I go to the garage and dust off my Ferraris – yes, Ferraris. I have several. They were made by Matchbox, a Mattel Toy subsidiary…

108

There is a huge difference between casually poking around a forum… And starting a thread to instruct people and create a following. The implications aren’t complicated … Especially when fee based services are involved.

109

Hmmm… thanks for that comment. Believe me, your comment and some of the comments I have read today really have confirmed what I suspected about human nature.

So basically, you feel if someone has low IQ, they deserve to have their money taken away from them… People born with lower IQ deserve to be conned by the more intelligent… Simontemplar indicated as much when he mentioned that he did not care what others did with their accounts…

This is very much of a side rant, but its something I have noticed in many people. I might be a bit harsh, but I tend to care about other people and go out of my way to help them (believe it or not). I am harsh (but fair?) because that’s the way I was taught… but ultimately I will help. But, I notice that a large majority of other people are super polite, but will not give a monkeys about another human being if they are a stranger (and sometimes even if they are a friend). For instance, they won’t give a work colleague a lift home if its 5 minutes out of their way (or even on their way) but they are superficially mega polite. Maybe I need to re-examine my priorities and be a happy smiling but ultimately selfish person. Not a criticism btw, I’ve only just started to notice that’s how most people are - maybe I will change.

111

[QUOTE=“JackMarkets;552525”]

Hmmm… thanks for that comment. Believe me, your comment and some of the comments I have read today really have confirmed what I suspected about human nature.

So basically, you feel if someone has low IQ, they deserve to have their money taken away from them… People born with lower IQ deserve to be conned by the more intelligent… Simontemplar indicated as much when he mentioned that he did not care what others did with their accounts…

This is very much of a side rant, but its something I have noticed in many people. I might be a bit harsh, but I tend to care about other people and go out of my way to help them (believe it or not). I am harsh (but fair?) because that’s the way I was taught… but ultimately I will help. But, I notice that a large majority of other people are super polite, but will not give a monkeys about another human being if they are a stranger (and sometimes even if they are a friend). For instance, they won’t give a work colleague a lift home if its 5 minutes out of their way (or even on their way) but they are superficially mega polite. Maybe I need to re-examine my priorities and be a happy smiling but ultimately selfish person. Not a criticism btw, I’ve only just started to notice that’s how most people are - maybe I will change.[/QUOTE]

I’m all for helping noobs… But it tends to boil down to something like this…


Noobs will do everything possible to ignore and discredit people who have opinions contrary to what their guru is telling them. They throw tantrums… They shout insults… They scoff. It takes experience to spot experience. More often then not the experienced traders get labeled as “haters” and “trolls” when their experience points out HUGE flaws in logic that the noobs are committing to follow their guru or other form of misguided adventure in their attempt at a trading career. In what other arena are experts who know what they are doing, harassed for trying to point out mistakes being made?

After awhile it gets tiring trying to save them from themselves. Essentially this is the interaction you’ll have no matter how valid your point is when you express it in any of the gurus threads.

112

I would say all 4 of you are profitable traders (Pizza, Simon, Jack, Tang)

…but there is a hierarchy of insecurity at play here. Since you lot are too involved to assess this measure objectively, I have kindly stacked you as follows:

  1. Simon (least insecure)
  2. Tang
  3. Jack
  4. Pizza (most insecure)

posting results, via myfxbook or just simply through the forum denotes the highest levels of insecurity. It shows that success and profit is simply not enough… others MUST KNOW about you. While Jack is confrontational about the myfxbook issue, he never directly bragged about his results, just showed them. PizzaBanker wins the insecurity contest due to repeated bragging about results, even to the point where he wishes there was a “success hierarchy”, presumably so he could place himself at the Top.

y’all know I’m an idiot (Thanks Simon!) that can’t trade so I’m not on the list. In 5th position (even more insecure) I would have to put ICT simply for using the words “Bub” and “cupcake” when confronting his critics.

Interestingly though, I find the more insecure the profitable trader, the more they are willing to disclose. So while ICT and Pizza may be the most insecure, they are also the most helpful to other traders.

113

[QUOTE=“60proof;552530”]I would say all 4 of you are profitable traders (Pizza, Simon, Jack, Tang)

…but there is a hierarchy of insecurity at play here. Since you lot are too involved to assess this measure objectively, I have kindly stacked you as follows:

  1. Simon (least insecure)
  2. Tang
  3. Jack
  4. Pizza (most insecure)

posting results, via myfxbook or just simply through the forum denotes the highest levels of insecurity. It shows that success and profit is simply not enough… others MUST KNOW about you. While Jack is confrontational about the myfxbook issue, he never directly bragged about his results, just showed them. PizzaBanker wins the insecurity contest due to repeated bragging about results, even to the point where he wishes there was a “success hierarchy”, presumably so he could place himself at the Top.

y’all know I’m an idiot (Thanks Simon!) that can’t trade so I’m not on the list. In 5th position (even more insecure) I would have to put ICT simply for using the words “Bub” and “cupcake” when confronting his critics.

Interestingly though, I find the more insecure the profitable trader, the more they are willing to disclose. So while ICT and Pizza may be the most insecure, they are also the most helpful to other traders.[/QUOTE]

Again human nature is to show off what you have that is shiny. If you don’t have something shiny… You are not going to be showing it.

I never bragged about results… Until I was able to show the proof to back it up. That’s the whole point of me opening my thread. That’s the benefit of actually showing your results is that you get to flaunt them.

I’ve never stated the size of my main account… Never bragged about fancy cars or houses or vacations… Big difference between me posting account growth of a sub account and me saying I’m a baller, millionaire, stud muffin.

114

Your post exemplifies my point… it is very difficult to assess your own level of insecurity.

But your fault is our gain, because otherwise there would be no incentive to share your strategies here.

115

Doesn’t really make sense though - cos where would you put Jonothon Fox, Chris Capre, Krugman, DNB Price Action, TMoneyBags and PeteFader who have very “helpful” threads but no results?

116

The assumption that if you post your results means your insecure is flawed… If you don’t have results you aren’t going to post them… Especially if the general expectation is that you Have good results. That does not mean you are more “secure”.

I’m much younger then Simon and Tang both… Probably where the rowdiness comes from

117
  1. They aren’t posting in this thread
  2. They aren’t profitable traders
118

The logic isn’t flawed, you are just in denial about your own level of insecurity.

If you were a perfectly secure profitable trader, you would not even be on this forum, because the opinions of others would literally mean Nothing to you.

119

[QUOTE=“60proof;552541”]

The logic isn’t flawed, you are just in denial about your own level of insecurity.

If you were a perfectly secure profitable trader, you would not even be on this forum, because the opinions of others would literally mean Nothing to you.[/QUOTE]

I would say boredom would be a stronger motivation for me to hang around here.

And of course it’s flawed. You are considering people to be “secure” when the reason they aren’t posting results very may well be that the results don’t match expectations.

121

You still don’t see it. Yes you come here because you’re bored… but the satisfaction you get from sharing your positive results is in fact the symptom of your insecurity.

122

[QUOTE=“60proof;552544”]

You still don’t see it. Yes you come here because you’re bored… but the satisfaction you get from sharing your positive results is in fact the symptom of your insecurity.[/QUOTE]

Lol if you say so.

I was a member here longer without mentioning my performance than I have been after showing it.

123

Interesting comment R Carter - but I couldn’t help but alert you to what 60proof said just before your post (I know he doesn’t represent everyone but still…) - totally flabbergasting because I actually think he thinks this way.

Translation: If I was rich enough I would not care about what anyone else thought… kind of a good thing he doesn’t make money.