Riley's One Liners for Ultimate Success in Trading and with a few other things too...

[Pat Riley]

Hi Pat

I think its a bit like that saying - "crime does not pay"

Forgetting that Banks have made crime pay for years - there are a small percentage of proper crooks - ie bank robbers - GTA specialists - internet fraudsters - house burglers etc etc - who have never been caught and made dishonest monies for many decadess

Ok it might even be a bigger percentage than successful retail FX traders - personally I think it is over 10% who can remain profitable on going - simply because with retail size monies - ie under a quarter of half a million you have many advantages over the trade - and after all - you just follow - we are never leading

Successful retail FX intaday vultures will be around for many decades - as long as spreads do not five or ten fold and the market moves up and down more than 3-5 pips at a time ;-)

That's my view - and so far in last 12 months - not one losing day - when I have not made positive money

Even if I am in this lowly mythical 2% - on 1 million retail traders - there 19999 like me


Regards


F

A fine post indeed, but I'm not sure what it's got ta do with anythin that's gone before.

Did ya mean ta post it here?

 

[Forexmospherian]

I’m walkin inta a minefield whichever way I answer. I don’t personally know that many traders who have or do trade on a purely directional basis. So me direct experiential evidence of their success is based on a sample so small as to be statistically irrelevant. But if I add in the consensus (anywhere between 90-98% walking away with less than they started with) me view is that regardless of timeframe, it’s a hiding to nothing.

Now of course, by random chance there are goin to be a small, small, small number who by whatever methods or means – including pure luck – have managed to turn a steady profit and are still playing the game years later. But if I were heading off inta the game on that basis, I’d be wonderin whether I was part of the 2% or the 98% and probably imagining the former rather than the more likely latter.

.

Hi Pat

Sorry - should have highlighted what I was replying to.

I have heard this said by 2 other old members who use to be on this Forum- both commercial guys - one I cannot remember his nic - but the other was Random12345 - a clever guy - who just needed winding up a lot

Regards

F

 

[Pat Riley]

Hi Pat

Sorry - should have highlighted what I was replying to.

I have heard this said by 2 other old members who use to be on this thread- both commercial guys - one I cannot remember his nic - but the other was Random12345 - a clever guy - who just needed winding up a lot

Regards

F

If you've got data which puts me guesswork to shame it would be good ta have a look.

 

[Forexmospherian]

If you've got data which puts me guesswork to shame it would be good ta have a look.

Will have to find it out

Some was from Forex Magnates - then others from FX street etc

Trouble is - because of all the unregulation - the number of retail FX traders in approx 200 countries varies from as low as 1 million - up to as high as over 2 million from other sources ;-)

 

[Mr. Charts]

When a trade goes wrong,
whether short or long,
if you pray, wish or hope,
you're a helluva dope.

 

[NVP]

"wadda all these people doing in my dressing room ?"

Frank Sinatra's opening line when appearing at Carnegie hall

 

[Mr. Charts]

"wadda all these people doing in my dressing room ?"

Frank Sinatra's opening line when appearing at Carnegie hall

Sure that wasn't Jimmy Saville ?

 

[Pat Riley]

Entropy ain't what it used to be so look for the clues when something don't look quite wrong or quite random.

 

[Jason101]

If your trading is stressful, then reduce your size until it isn't.

 

[Pat Riley]

If your trading is stressful, then reduce your size until it isn't.

I tried crouchin down until I felt better about things and it worked, but then I couldn't see over the top of me trading desk. But yer still right, not being able ta see me screens or touch me keyboard meant I wasn't stressful at all what with not havin to worry about any trades or anything. Thanks for the tip.

 

[Jason101]

Lol

 

[Dong Mu]

me do one liner make feel good for many hour

 

[Pat Riley]

If everyone you cared about were watching you now, would you do what you're about to do?

 

[Fugazsy]

If you cannot convince, confuse them.

 

[Pat Riley]

If you can't see an exit, don't go in.

 

[Pat Riley]

If ya have ta choose between two pretty girls, there's something up. Walk away.

 

[Pat Riley]

If any of ya think the last two are anythin ta do with me last trip ta Mexico City, mind yer own.

 

[Fugazsy]

If ya have ta choose between two pretty girls, there's something up. Take them both.

 

[Pat Riley]

If ya have ta choose between two pretty girls, there's something up. Take them both.

Well now, that was my strategy too, until a couple a months back. I'm tryin to help you from finding out the hard way.

Mind you, it was alright in spades until the pain kicked in.

Ah, go on then, give it a try. You're only young once.

 

[Fugazsy]

a better broth is made with old chicken.