Serious Fallacy of Trading forex and other financial instruments

[dancingshoes]

I have decided to call it quits after trading forex and any financial instruments for 5 years. believe it or not, forex trading is a scam. if you want to win in forex, do not rely on chart, the sharks made the chart, retail traders are just in this game*to get swallowed up. the so call gurus out there are their marketing tools, to attract the gullible into there. if you want me to justify what I said, I am more than willing to provide any info. you need.

i thought that few years ago, things got straightened up when those big banks got heavy fine but from what i observe, they are still doing it. when there is money, nothing will be able to stop them.

the reason why I am putting this up is to prevent your loved ones and friends from losing money. the best to make money is still thru hard work, please stop your day*dreaming of becoming the next George soros. I have not yet met any trader who have won money in the long run, if you do, please feel free to let me know, then I will drive my car over the moon. do your part, do not be selfish! and let as many pple know as possible.

 

[johnny333]

Made that decision after losing $$$$ in forex. Also stopped investing in mutual funds also known as unit trusts because of the yearly management fees. The management fees rob you of $

Fortunately I also invested in share in the past & eventually those shares are doing well & started to pay dividends. Now that I'm retired & living on these dividends.

 

[AsiaDK]

Middlemen (owners of the trading platforms) always win.

 

[dancingshoes]

Made that decision after losing $$$$ in forex. Also stopped investing in mutual funds also known as unit trusts because of the yearly management fees. The management fees rob you of $

Fortunately I also invested in share in the past & eventually those shares are doing well & started to pay dividends. Now that I'm retired & living on these dividends.

may i ask overall throughout the years, are you +ve or -ve? touch your heart and only tell the truth. surely, you can make money for 5 years in trading(i am not that smart) but more likely that you will lose it in the long run.

 

[johnny333]

may i ask overall throughout the years, are you +ve or -ve? touch your heart and only tell the truth. surely, you can make money for 5 years in trading(i am not that smart) but more likely that you will lose it in the long run.

I started 15+ years while I was working, bought some unit trusts. Back then you needed to work for an MNC which provided internet access because Spore controlled access to the internet. Back then I started with unit trusts which I bought from Citibank & had that for a few years but it never performed. If you read about unit trusts they are not a good thing to invest in because of the management fees.

I didn't put all my eggs in one basket. I also had a US trading account with Etrade & a local broker for Spore & CLOB.

As I was busy working full time I was more of a buyer & keeper type of investor. I did sell the losers when the shares under performed e.g. HP, Lucent, Dell, CISCO, IBM, ...

Before the financial crisis of 2008 I liquidated most of my local shares & kept my Malaysian & trimmed my US stocks. I've of course made some losses but because I held onto my shares for a long time, they have all appreciated in value e.g. Apple, Public Bank, Carlesberg, Sime,... The biggest mistake I ever made was to get involved with FOREX :o

The nice thing about Malaysian shares is that they they often reward you with more shares, or give you a choice of getting a dividend or re-investing the dividends by allowing you to purchase more shares at a discounted price. So over time you can accumulate plenty of shares.

The problem with investing in Spore shares is that companies often buy out other companies & they can force you to sell your share e.g. Tat Lee Bank. I had to sell all my Tat Lee shares when OCBC bought them. This happened to me more than a couple of times. Spore brokers were also allowed to start charging all kinds of fees like inactive fees. If you are not an active trader & only collecting dividends, they will hit you with a $12 fee/month per holding.

They don't do that in Malaysia.

I haven't been working for years & years & living off the dividends I am receiving from my shares. The value of my share is not as high because the ringgit has depreciated & my Apple shares are down from it's highs. I actually started buying Apple shares when they were $15, $30,.... This was before Steve Jobs returned to Apple.

However I'm not that concerned because I'm still getting the dividends. It's more than what I really need for my yearly expenses. I'm planning to re-invest the surplus into the market. Just waiting to see what policies Trump will implement

 

[dancingshoes]

I started 15+ years while I was working, bought some unit trusts. Back then you needed to work for an MNC which provided internet access because Spore controlled access to the internet. Back then I started with unit trusts which I bought from Citibank & had that for a few years but it never performed. If you read about unit trusts they are not a good thing to invest in because of the management fees.

I didn't put all my eggs in one basket. I also had a US trading account with Etrade & a local broker for Spore & CLOB.

As I was busy working full time I was more of a buyer & keeper type of investor. I did sell the losers when the shares under performed e.g. HP, Lucent, Dell, CISCO, IBM, ...

Before the financial crisis of 2008 I liquidated most of my local shares & kept my Malaysian & trimmed my US stocks. I've of course made some losses but because I held onto my shares for a long time, they have all appreciated in value e.g. Apple, Public Bank, Carlesberg, Sime,... The biggest mistake I ever made was to get involved with FOREX :o

The nice thing about Malaysian shares is that they they often reward you with more shares, or give you a choice of getting a dividend or re-investing the dividends by allowing you to purchase more shares at a discounted price. So over time you can accumulate plenty of shares.

The problem with investing in Spore shares is that companies often buy out other companies & they can force you to sell your share e.g. Tat Lee Bank. I had to sell all my Tat Lee shares when OCBC bought them. This happened to me more than a couple of times. Spore brokers were also allowed to start charging all kinds of fees like inactive fees. If you are not an active trader & only collecting dividends, they will hit you with a $12 fee/month per holding.

They don't do that in Malaysia.

I haven't been working for years & years & living off the dividends I am receiving from my shares. The value of my share is not as high because the ringgit has depreciated & my Apple shares are down from it's highs. I actually started buying Apple shares when they were $15, $30,.... This was before Steve Jobs returned to Apple.

However I'm not that concerned because I'm still getting the dividends. It's more than what I really need for my yearly expenses. I'm planning to re-invest the surplus into the market. Just waiting to see what policies Trump will implement

uncle johnny,

thxs for sharing with us your experience. if i read between your words correctly, you actually lost more money than the dividends that you are getting. but frankly, at your age, it's a bonus to have more than enough to spend. but look at it this way, it's from the money that you lost previously. no hard feelings.

i hope i dun sound bitter btw didn't lose much in forex but it was good valuable insight into politics and global economy. in US equities, the era is no longer warren buffet time when a country had so much to grow, they can remain innovative but had almost reached the end of the street. if you know how to read a chart, you will know that there are really traps to lure the naive. even fundamental can be flawed or made up. google for articles that say technical analysis is a con job, you will get to read a lot of them.

 

[Asterix]

.......... do not rely on chart, the sharks made the chart, ...........

Don't know about forex, but for index futures, I find that the best signal is the signal that doesn't work the way it's supposed to. For example, normally a "super engulfing" bear candle (makan more than one of the immediately preceding candles) will lead to weakness for the next few bars, if it does not, I've got one of the most valuable pieces of information that I need, supercede all the others.

 

[johnny333]

uncle johnny,

thxs for sharing with us your experience. if i read between your words correctly, you actually lost more money than the dividends that you are getting. but frankly, at your age, it's a bonus to have more than enough to spend. but look at it this way, it's from the money that you lost previously. no hard feelings.

i hope i dun sound bitter btw didn't lose much in forex but it was good valuable insight into politics and global economy. in US equities, the era is no longer warren buffet time when a country had so much to grow, they can remain innovative but had almost reached the end of the street. if you know how to read a chart, you will know that there are really traps to lure the naive. even fundamental can be flawed or made up. google for articles that say technical analysis is a con job, you will get to read a lot of them.

I lost about 1 million in FOREX & that was my biggest lost. The problem with FOREX compared to shares is that you can lose everything, but with shares you still own the shares & it is unlikely to go to zero. Fortunately I'm diversified so the lost did not wipe me out

Since I invested in blue chis shares, such shares are unlikely to drop to zero. That is why I am a strong believer in investing in shares.

In the future I will look at diversifying into the ETF market which is I think is more stable because it is a sector play instead of an individual company. Nowadays you don't need to be an expert because you can buy into a sector via index ETFs, dividen ETFs, ... etc

 

[frenchbriefs]

I tried trading for about a year during NS before I quit and went into poker where I had a little marginal success.now I mainly play poker and do buy and hold investing or passive investing or value investing whatever u call it.

Trading just didn't make any sense to me.there were all these types of patterns and indicators that had no logic or sound reasoning behind it but merely guesswork and suppositions as to what they mean and represent but nothing was concrete.there was no laws of physics or fundamental strategies in the stock market that's the foundation of trading and proven and tested to work thru the test of time.the market works in a strange looping logic,if let's say u spot and inefficiency in the market and devise a simple strategy to exploit it, however after some time more and more people begin to latch on to it and start using the same tools to exploit it,it begins to distort the market and mutate it until the original strategy doesn't work anymore.the market is like a strange evolution of its own theories and nightmares and fantasies and people's emotions.

For what I can tell, people try to understand and conquer the market by coming up with their own strategy,style of trading and sets of indicators,I tried to learn a simple trend trading strategy but frankly I think it's futile.most of these people are just living in their own bubbles of delusions and nightmares in a world they do not understand.i do not understand it either.

The way I see it the people who truly succeed at this trading thing,those genius traders,they have a knack for noticing things in the real world that affects the markets,like something the fed does that affects business cycles that has not yet been discovered by others in the 1980s or something.....then they use their gut instincts and balls to bet big on this inefficiencies and make big profits.the other 90 percent is just mumbo jumbo.

 

[johnny333]

Don't know about forex, but for index futures, I find that the best signal is the signal that doesn't work the way it's supposed to. For example, normally a "super engulfing" bear candle (makan more than one of the immediately preceding candles) will lead to weakness for the next few bars, if it does not, I've got one of the most valuable pieces of information that I need, supercede all the others.

Are you investing in ETFs?

 

[frenchbriefs]

I lost about 1 million in FOREX & that was my biggest lost. The problem with FOREX compared to shares is that you can lose everything, but with shares you still own the shares & it is unlikely to go to zero. Fortunately I'm diversified so the lost did not wipe me out

Since I invested in blue chis shares, such shares are unlikely to drop to zero. That is why I am a strong believer in investing in shares.

In the future I will look at diversifying into the ETF market which is I think is more stable because it is a sector play instead of an individual company. Nowadays you don't need to be an expert because you can buy into a sector via index ETFs, dividen ETFs, ... etc

1 million woowww how u get so much money.

 

[Jah_rastafar_I]

Nigger krafty now uses his clone to give shit advice to others.

 

[johnny333]

I tried trading for about a year during NS before I quit and went into poker where I had a little marginal success.now I mainly play poker and do buy and hold investing or passive investing or value investing whatever u call it.....

I think you are too impatient. Not everyone can make $ in short term trading.

In the old days aunties & uncles would invest in Malaysian shares for years & years. When they are ready to retire they will have a tidy nest egg. Don't forget about the dividends & to re-invest the dividends. Nowadays there are index ETFs for passive investors.

It should be obvious to everyone that the PAP do not intend to return people's CPF so you have to set aside some $ for your retirement.

 

[numero uno]

I lost about 1 million in FOREX & that was my biggest lost. The problem with FOREX compared to shares is that you can lose everything, but with shares you still own the shares & it is unlikely to go to zero. Fortunately I'm diversified so the lost did not wipe me out

Since I invested in blue chis shares, such shares are unlikely to drop to zero. That is why I am a strong believer in investing in shares.

In the future I will look at diversifying into the ETF market which is I think is more stable because it is a sector play instead of an individual company. Nowadays you don't need to be an expert because you can buy into a sector via index ETFs, dividen ETFs, ... etc

never believed in forex or financial products. almost everything the bankers tried to sell me turn out tio be dud and nothing but a con job. ETF, forex, foreing linked FD, bonds, minibonds, structured deposits, ostrich farms, land banking, agar wood, premium wines, diamonds, time share, gold bullions, etc etc are ALL BULLSHIT.not a single made money is you google search their history and most end up as bankrupts and ran away with your funds.
worse is that these were created and perpetuated by the wall street bankers and became worse in 2008 with lehman fiasco and farking bankers get away with it as that nigger US president protected them. not a single banker went to jail at all. on the contrary the CEOs continue to pocket obscene 8 to 10 figures salaries eg wells fargo CEO. just show how corrupt obama is .
as for forex, the inside info is that the bankers themselves are clueless and using high end super computers as powerful as deep blue.
you are trying to beat the super computers who can make decision in a micro sec and use bulk orders to whack the small timers who think they can beat these super computers who calculate in pentaflops . until you can calculate faster than tehm dobn't think you can win in the long run. all the forex and bankers products are just a con job. I think a casino offer better chances although the odds are still against you.
anyway bottom line is there is no short cut.
use your common sense. if anybody has a foolproof system to game the system, common sense would tell you he would guard it like a family secret like coca cola formula 7X. why tech others and dilute your own earning powers?? simple logic right. those that claim to possess some startegy and ask you to sign up for a course on how to trade are all bullshitters like fortune tellers. they are just selling snake oil. problem is that there are too many greedy fools and suckers in this world so I do not sympathise with most of them. just like kick starters and crwod funding 99.999% of these craps asking for funds are cheats.

 

[dancingshoes]

it's just another form of gambling. trading, speculation, all the same. if today unlucky, you hold until your luck comes, and you sell, you make. if lucky, make a few dimes in a short while. the best part is the gurus out there try to sell you what they know. i am staying out of all these investment vehicles, that's for sure! hopefully, one day, someone i know come to me and make me regret my decision.

 

[johnny333]

1 million woowww how u get so much money.

I have always saved & invested my $. Actually did not even realise that I was a millionaire until I started to review all my investments.

Even today I don't feel like a millionaire because I am fully invested & only live on the dividends I receive. I'm careful about what I spend on e.g. do not own a car, don't take taxis, fly budget,...

I have wealthy relatives who are worth even more $$$ & they are also careful in how they spend their $. Don't forget that a fool & his money are soon parted

 

[frenchbriefs]

Actually I've never traded forex before only the mini S&P,forex is a totally different ballgame I think.

 

[krafty]

Actually I've never traded forex before only the mini S&P,forex is a totally different ballgame I think.

hard to beat, rise to the challenge and take on forex!:p

 

[johnny333]

never believed in forex or financial products. almost everything the bankers tried to sell me turn out tio be dud and nothing but a con job. ETF, forex, foreing linked FD, bonds, minibonds, structured deposits, ostrich farms, land banking, agar wood, premium wines, diamonds, time share, gold bullions, etc etc are ALL BULLSHIT.not a single made money is you google search their history and most end up as bankrupts and ran away with your funds.
worse is that these were created and perpetuated by the wall street bankers and became worse in 2008 with lehman fiasco and farking bankers get away with it as that nigger US president protected them. not a single banker went to jail at all. on the contrary the CEOs continue to pocket obscene 8 to 10 figures salaries eg wells fargo CEO. just show how corrupt obama is .
as for forex, the inside info is that the bankers themselves are clueless and using high end super computers as powerful as deep blue.
you are trying to beat the super computers who can make decision in a micro sec and use bulk orders to whack the small timers who think they can beat these super computers who calculate in pentaflops . until you can calculate faster than tehm dobn't think you can win in the long run. all the forex and bankers products are just a con job. I think a casino offer better chances although the odds are still against you.
anyway bottom line is there is no short cut.
use your common sense. if anybody has a foolproof system to game the system, common sense would tell you he would guard it like a family secret like coca cola formula 7X. why tech others and dilute your own earning powers?? simple logic right. those that claim to possess some startegy and ask you to sign up for a course on how to trade are all bullshitters like fortune tellers. they are just selling snake oil. problem is that there are too many greedy fools and suckers in this world so I do not sympathise with most of them. just like kick starters and crwod funding 99.999% of these craps asking for funds are cheats.

When I first started investing I made the mistake of investing in unit trusts(mutual funds) in Spore. It took a few years for me to realise that this was a mistake.

However I was also invested in the US & Malaysia. Now I'm only invested in the US & Malaysia. There are no short cuts & it took 10+ years before my investments started giving me healthy dividends.

 

[dancingshoes]

think it this way: imagine you have a pile of money on the table (investment vehicle, shares, forex, etc.) and when some crooks see it, they will try to steal or rob the money away from the table. logical tio boh?