[QUOTE=“JackMarkets;553217”] One of the few times he speaks sense. Warren Buffet still charges for speeches (up to a few years ago at least), and its not because he needs the money. A lot of teachers teach because they want to show off their style, enjoy the sound of their own voice, or enjoy the attention/showing off what they know. Of course, this doesn’t mean they are excused from offering the records with which their prospective students can do due diligence.[/QUOTE]
We both talk some sense, it just happens that we don’t agree. Two politicians on opposing sides of the house can both talk sense. It does happen.
However, your latter argument is different from your earlier ‘don’t need to charge as they don’t need the money’ line.
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!
[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:
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.”
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]
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.
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.
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.
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
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]
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. 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.
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.
LOL