Has anyone been succesful with trading???

[dc2000]

Its a long winded way of saying Shumi thinks and acts faster than the rest

 

[SOCRATES]

I must be thick, does any one else understand what SOCRATES wrote?

I must concede you are probably rigtht, but surely what you mean is not what you post.

What you probably mean is " I must be thick, does anyone ELSE NOT understand what SOCRATES wrote ? "

 

[MasoMinos]

I must concede you are probably rigtht, but surely what you mean is not what you post.

What you probably mean is " I must be thick, does anyone ELSE NOT understand what SOCRATES wrote ? "

No. I think badtrader knew exactly what he meant. We did.

 

[fxmarkets]

I cant say I have any secret codes or gold bars, I have a way of calculating likely moves on various indices that works quite well though.But Merdox's problem is not how to find good trades its one of application of those trades to produce profitability

Your F1 analogy works quite well apart from the fact that not all F1 cars are equal it is the car that gives the driver an edge but equally the driver must have the ability to take advantage of that edge

If you know the enemy and know yourself, you need not fear the result of a
hundred battles. If you know yourself but not the enemy,
for every victory gained you will also suffer a defeat.
If you know neither the enemy nor yourself, you will
succumb in every battle.

(taow)

applicable in the markets ...........:idea:

 

[Mornington Crescent]

I knew what he meant as well.

and I am sure he meant what he said.

Socrates post is a mixture of motherhood and gobbledegook.

Is he always like that ?

 

[dc2000]

surely the question should be

I must be thick, does any one else understand why SOCRATES wrote?

 

[dvdh]

I only mentioned it because people can be inclined to think that they have created secret codes
the equivalent of gold bars and all from manipulating H, L,C, maybe O and maybe volume and maybe OI.
This secret squirrel mentality is just a stage in the learning process and a very restrictive one at that and a Trader needs to pass beyond this nonsense towards the application of numbers just as quickly as possible.
Ask M.Schumaker the secret to driving a F1 car to victory.
Well, it is one foot on the throttle, the other on the brake. Both hands on the wheel, one finger for the paddle. Watch the cars in front, watch the cars behind. Dont cook the engine, dont run out of gas and above all cross the finish line ahead of every other car.

Where is the secret in that!!!

Just for the record. Schumacher's secret is cheating!!!

 

[commanderco]

I cant say I have any secret codes or gold bars, I have a way of calculating likely moves on various indices that works quite well though.But Merdox's problem is not how to find good trades its one of application of those trades to produce profitability

Your F1 analogy works quite well apart from the fact that not all F1 cars are equal it is the car that gives the driver an edge but equally the driver must have the ability to take advantage of that edge

With the greatest respect dc2000, the story of the F1 Driver is totally in the last statement...and above all cross the finish line ahead of every other car.
To do this the driver must first chose the best team with the best car, with the best support, with the best chance of winning. He must in turn, present himself to this team in the best manner in order to complete a winning combination.
The bit about the feet, the hands, the finger on the paddle, are to this story as RSI, EMA, CCI ,ADX is to price/volume. In themseves they are nothing, but if they help you understand the task at hand then they are useful.
I suspect that our amigo who started this thread knows nothing or insufficent of the markets.
Therefore he feels that things went well during simulation but not well in live trading.
Supportive people reached in with well meaning words of advice about the difference between the two situations, but everything is built around the original premise in the first post of the this thread.
In my opinion there is only one way in which to trade the markets

 

[pttrader]

With the greatest respect dc2000, the story of the F1 Driver is totally in the last statement...and above all cross the finish line ahead of every other car.
To do this the driver must first chose the best team with the best car, with the best support, with the best chance of winning. He must in turn, present himself to this team in the best manner in order to complete a winning combination.
The bit about the feet, the hands, the finger on the paddle, are to this story as RSI, EMA, CCI ,ADX is to price/volume. In themseves they are nothing, but if they help you understand the task at hand then they are useful.
I suspect that our amigo who started this thread knows nothing or insufficent of the markets.
Therefore he feels that things went well during simulation but not well in live trading.
Supportive people reached in with well meaning words of advice about the difference between the two situations, but everything is built around the original premise in the first post of the this thread.
In my opinion there is only one way in which to trade the markets

Then I suppose all race car drivers are good traders. Hogwash! What do you do? Wait for all the indicators to line up so the trigger can be pulled. Or throw in a few more indicators to be sure the light is green? Metaphors won't help you in the real world of trading. They might be useful in teaching some concept. However, understanding a concept and trading are two different things as we all well know or at least should know!! Commander have you been hitting the bottle too hard??

 

[commanderco]

Then I suppose all race car drivers are good traders. Hogwash! What do you do? Wait for all the indicators to line up so the trigger can be pulled. Or throw in a few more indicators to be sure the light is green? Metaphors won't help you in the real world of trading. They might be useful in teaching some concept. However, understanding a concept and trading are two different things as we all well know or at least should know!! Commander have you been hitting the bottle too hard??

Hola pttrader, it is a small world,
You must be on the other side of my trades ... no wonder I have been doing so well, muchas gracias mi amigo.
I could tell you never to confuse a metaphor with real life, but frankly somebody has to take the other side of my trades and it might as well be you.

As always, my very best to the MERC next time you are talking with them ( topping up margins I suspect)
Saludos

 

[commanderco]

Just for the record. Schumacher's secret is cheating!!!

dvdh

Mrs Schumacher is not going to be pleased when she hears this

 

[Multiplier]

I have been trying to trade for the last two years. when It comes to paper trading and demo trading I can make it work. However whenever I switch to live trading it only works for a short time and then I just loose money. Its almost like "they" know what I am doing.

This has been going on the past two years and I am about ready to close my account. I have talked to my wife about this and she thinks I should close my account as well. However I am not a quitter and the thought of quitting bothers me alot. Not to mention I would love to make this work

The point is I am open to any suggestions. Should I close my account and if not what can I do to keep a profit?

Thanks
Joseph

Hi, I'm a newbie here, but have been trading for several years. When you hit a bad patch, back off a while, get control of your emotions. If you have a plan that you know works on paper, then stick exactly with it. If, in the moment of executing a trade you think you can short-cut the plan, you won't, and it will cost you. If you feel yourself doing that, then stop trading until you can control your fear and greed.

If you keep doing that, then ask yourself what kind of a plan is it? How well formulated? Revisit its assumptions on paper again.

Finally, stick to one, maybe two things at a time. Your mind won't cope with more and excitement or fear will do you in eventually. 75% of good trading is preparation and planning, 24% waiting and 1% trading. Don't attack the market, it will win. Wait for it to come to you - by that I mean enter when you are comfortable with your emotions and comfortable that the plan is good.

Sorry to preach! Best of luck. Don't give in.

 

[pttrader]

Hola pttrader, it is a small world,
You must be on the other side of my trades ... no wonder I have been doing so well, muchas gracias mi amigo.
I could tell you never to confuse a metaphor with real life, but frankly somebody has to take the other side of my trades and it might as well be you.

As always, my very best to the MERC next time you are talking with them ( topping up margins I suspect)
Saludos

Watch that wine bottle CO it will affect your trading and you might end up taking the other side of your own metaphor. Know what I mean?

 

[commanderco]

Watch that wine bottle CO it will affect your trading and you might end up taking the other side of your own metaphor. Know what I mean?

You mean that the vino is for AFTER the trading!!!!! well I will be buggered
Happy & profitable trading to you pt

 

[pttrader]

You mean that the vino is for AFTER the trading!!!!! well I will be buggered
Happy & profitable trading to you pt

Time for sipping after dipping (in the markets) and the account has swelled before the bell.

 

[commanderco]

Time for sipping after dipping (in the markets) and the account has swelled before the bell.[/QUOTE

Muy buen PT

 

[pttrader]

Time for sipping after dipping (in the markets) and the account has swelled before the bell.[/QUOTE

Muy buen PT

Muchos garcias

 

[VOLTRON]

Hi merdox, just read your post , i think your headline sums it up " Has anyone been succesful with trading??? " the reality is very few people make money from trading , something in the region of 2% and others lie or only tell you when they make money ......i've worked with some of the forex companies in the uk and most clients lose money within the first 3 months and the best customers lose it over a year to 18 months ........if you think what i'm saying is a bit cynical and inaccurate, ask one of the so-called or self-claimed successful trader on this board to allow you to watch their trades for 3 months and see how badly they do if not worse than you. In my experience , the only consistent and long term successful traders i've come across tends to work within investment banking where i worked in administration of some fx trades .... and in conclusion i think they were able to make consistent profit because they had what is known as "the edge" inorder they see and are aware of big trades that'll move the market such as Foreign govermemt buying a particular currency hence they are able to see price formation early and ride it . This traders DO not use graphs or any silly tools associated with the average trader like you and me .....they r only interested in price and the time . There are a small and almost negligible traders that have excellent strategies often derived from the field of " mathematical correlation " that works but this strategy requires huge resources to find and often last for a short while b4 everybody jumps on the bandwagon ....for example the "comovement of the NOKJPY and the oil prices " that lasted about 14 months before it was put in the public domain ...... another past profitable comovement existed and sometimes still works in the equities market between the symbol XLV and IYH this are health sectors ETF with very similar constituents hence any deviation from the mean is often capitalised on by the savvy trader.........anyway i'll stop rambling on but it takes more than graphs , silly break outs , gossips about a big dog buying the yen or the ghanian cedis to make money in the market if you wanna do it for a living and consistently .........do your research if possible get close to those that visibly make money in the market or work near them ..........best way to achieve success .

Thirdhigh

 

[commanderco]

Hi Voltron

THE EDGE as you describe it, for indivdual Traders lies in discipline.
Since discipline comes from responsibilty for ones actions and since that has been
erroded over time, very few people understand the level of discipline required to produce
a steady stream of net points. They think that they know, but they do not. Hence their losses.
The discipline does not apply to them as they think that it does ( emotional state, ie me me me), but rather it applies to what is required to achieve the desired result ( output state, ie give give give)

If you say the success rate is around 2%, you are probably correct, since I have no way of knowing nor sufficent interest in finding out.

However for most people, the safest trades, if there is such a thing, is simply to follow the carry trades around the globe.

 

[Tuffty]

Apparently one of the differences between winning and loosing traders is whether the trader believes it is possible to be a winning trader.