Alan Rich new scanner

[the hare]

No, I don't understand. I think you are saying it because you are unable to make live calls.

I know you don't understand, and you probably never will

 

[BeginnerJoe]

I know you don't understand, and you probably never will

And, you probably never will be able to make live calls. Because deep down, you just know the minute you make a call, your "edge" would give a series of 100 consecutive loosers.

There are close to sure bets in the market. Just that they are few and far between. If you don't know these exist that would enable high probability call outs, then you too should add my prefix to your nick.

 

[the hare]

And, you probably never will be able to make live calls. Because deep down, you just know the minute you make a call, your edge would give a series of 100 consecutive loosers..

I think my largest run of consecutive losers is 14

I do expect to exceed that at some point

I trade a random entry, I honestly don't give a flying **** about this high probability nonsense you seam so concerned about

Perhaps if I posted a picture of what my edge looks like the penny will drop

 

[BeginnerJoe]

I honestly don't give a flying **** about this high probability nonsense you seam so concerned about

Can't blame you if you can't see them.

Perhaps if I posted a picture of what my edge looks like the penny will drop

I already know your edge. It's called the moving average cross over.

 

[the hare]

I already know your edge. It's called moving average cross over.

"only pretentious ignoramuses are apt to blunder about in this arena and to express opinions of that which they know zero and that of which they ought to prudently keep quiet about"

The man is a genius, and I was foolishly considering letting you have a peek at one of the cats kept we usually keep tucked away in a bag

but I'm not going to now, so there.. ha ha ha ha

 

[BeginnerJoe]

but I'm not going to now, so there.. ha ha ha ha

It won't look good to have been pre-empted like that.

 

[ZEN archer]

If you are not even subscribed, then they can't be any good.

To be fair to them - I don't know if they are good or not.

Only way I could judge them properly is by checking their 3 years track record combined with a free access to the live room for at least 3 months.

 

[BeginnerJoe]

Only way I could judge them properly is by checking their 3 years track record combined with a free access to the live room for at least 3 months.

A better way is to judge them by their lack of interest in using their own signals.

 

[pboyles]

OANDA Insights | OANDA

And just to be clear, he's not claiming that every customer would have made tens of millions, he's talking about an aggregate position. The simple truth of course is that a great many of their customers erode their accounts over time simply because of transaction costs. If that tiny edge where in the customers favor, they'd be doubling the account at the same rate it currently drains away !

There's also a very good article on the same blog about the morality and ethics of introducing brokers (or more precisely the lack of morality and ethics of those in the industry who "earn" their living taking a part of their victims spread) Thankfully I'm not alone in spotting the hypocrisy of that particular situation.

OANDA Insights | OANDA

I see FXDD have now been caught fiddling clients on slippage.

http://www.trade2win.com/boards/brokerages/153606-fxdd-nice-honest-outfit.html

 

[the hare]

I see FXDD have now been caught fiddling clients on slippage.

I'm truly shocked, what is the world coming too :whistling

Did Tim ever get back to you with a list of "good guy" vendors, maybe the list is so long its taking his a long time to type up

 

[pboyles]

I'm truly shocked, what is the world coming too :whistling

Did Tim ever get back to you with a list of "good guy" vendors, maybe the list is so long its taking his a long time to type up

Yes I imagine it's taking some time to compile the list, it would be very unfair to leave anyone out you know.

 

[VielGeld]

If you think good trading is not about making good calls, then you need to add my prefix to your nick.

You do need to make good calls, of course, but there are additional elements to consider:

- The cost of trading as the Hare says.

- Average size of losers/winners.

- Being able to hold on (or what BBmac refers to as capitalizing on your edge): the emotional element of trading.

- The capacity to pull through rough patches, etc. It's very easy to fritter away at your meagre profits with a couple bad trades once in a while...

I'm sure there's more. I don't know e'm all, but making good calls isn't enough, imo.

 

[DionysusToast]

Am I the only person here that does not see trading as a mechanical endeavour?

All this talk about 'selling an edge' mystifies me completely. It's as if people think that an edge is a set of fixed rules.

To me, the edge is experience. You couldn't give it away for free, even if you tried to. It really doesn't matter if you tell people what you do because the chances are extremely high that someone would try to follow what you do and give up after 2 days of being crap at it.

My only criteria for getting into a trade is that I don't think it's going to bite me in the ass and 'loose' me money. I'll take those all day, even if sometimes it just means I end up paying commissions on them. or making 4 ticks before the market turns around on me.

The skill is in not losing your shirt. This is the only thing you are in control of. The profits you make come down to luck in the end. The amount of profits is beyond your control.

On ARs site, he's selling some indicator that let's you just sit back, wait for the colour to change and enter a trade.

It’s easy, the charts have been programmed to change colour at the most opportune times to enter and exit the trade. This works in any time frame, from intra day to end of day moves. Trading has never been so simple

This sort of stuff is pure fantasy. The issue is not "if you had something like that, why would you sell it?".

The issue is that stuff like that doesn't work at all.

If Alan can trade, then he's really throwing away his reputation with this crap IMO. Then again, reputation is something you can play around with in this industry because there is a constant stream of newbies that are fed the idea that trading is a mechanical endeavour.

 

[BeginnerJoe]

but making good calls isn't enough

Perhaps not. But barjon and the hare can't make good calls even if they try. The hare is worried he will get 14 loosers in a row the minute he makes a call. Not sure about barjon as he is not as forth coming with what he's doing; no statements, no calls, no nothing, only that he'd been doing whatever he's doing for 30 years - for all we know he'd been twiddling his thumbs for 30 years.

 

[barjon]

Am I the only person here that does not see trading as a mechanical endeavour?

All this talk about 'selling an edge' mystifies me completely. It's as if people think that an edge is a set of fixed rules.

To me, the edge is experience. You couldn't give it away for free, even if you tried to. It really doesn't matter if you tell people what you do because the chances are extremely high that someone would try to follow what you do and give up after 2 days of being crap at it.

My only criteria for getting into a trade is that I don't think it's going to bite me in the ass and 'loose' me money. I'll take those all day, even if sometimes it just means I end up paying commissions on them. or making 4 ticks before the market turns around on me.

The skill is in not losing your shirt. This is the only thing you are in control of. The profits you make come down to luck in the end. The amount of profits is beyond your control.

On ARs site, he's selling some indicator that let's you just sit back, wait for the colour to change and enter a trade.



This sort of stuff is pure fantasy. The issue is not "if you had something like that, why would you sell it?".

The issue is that stuff like that doesn't work at all.

If Alan can trade, then he's really throwing away his reputation with this crap IMO. Then again, reputation is something you can play around with in this industry because there is a constant stream of newbies that are fed the idea that trading is a mechanical endeavour.

Toastie

I think it can be mechanically based, although it is a trader's skill ( born from experience) that's the primary driver to the bottom line.

I agree that you are in control of losses (barring rare disaster events of one sort or another) but I disagree slightly that you can't control profits. You certainly can't control whether there is going to be one, but you can control where and when you're going to take it.

Everyone finds their own reason - by whatever turns them on - for taking a trade, but that only gets them out of the starting gate. It's what happens from there that counts.

jon

 

[the hare]

Perhaps not. But barjon and the hare can't make good calls even if they try. The hare is worried he will get 14 loosers in a row the minute he makes a call.

I really couldn't care less about consecutive losers. You really don't have a clue

 

[barjon]

Perhaps not. But barjon and the hare can't make good calls even if they try. The hare is worried he will get 14 loosers in a row the minute he makes a call. Not sure about barjon as he is not as forth coming with what he's doing; no statements, no calls, no nothing, only that he'd been doing whatever he's doing for 30 years - for all we know he'd been twiddling his thumbs for 30 years.

joe

"not sure" - "can't" that's a bit contradictory Just cast around , maybe the ftse thread, and you'll find some.

So what's a "good call" anyway? Something that sets off in the right direction? So what - as I said in my reply to toastie above, that's just the start of it and does damn all to demonstrate if someone is a good trader or not.

jon

 

[kimo'sabby]

@Toastie. Here's what i think are some real trading obstacles.

1. The bid/ask spread.
2. FIFO.

The easiest money is on the bid/ask, but retailers will find it hard to get their mitts on it. Beyond the bid/ask, i suppose it's all about chancing your arm, and trying to hit a target that is always moving and changing shape. Most give it up, after loosing. Vendoring is probably the logical route for the man on the street.

 

[pboyles]

joe

"not sure" - "can't" that's a bit contradictory Just cast around , maybe the ftse thread, and you'll find some.

So what's a "good call" anyway? Something that sets off in the right direction? So what - as I said in my reply to toastie above, that's just the start of it and does damn all to demonstrate if someone is a good trader or not.

jon

Barjon,

I think you'll have to strike FXDD off your comprehensive list of honest vendors. Looks like they been caught running a similar slippage scheme to FXCM.

T2W rebate partner as well, you'd think they'd have known better. I wonder how much T2W members have lost as a result of this?

 

[the hare]

T2W rebate partner as well, you'd think they'd have known better. I wonder how much T2W members have lost as a result of this?

I doubt you'll get an answer