Serious Fallacy of Trading forex and other financial instruments

[cocobobo]

you guys are just ordinary punters.

GBP is primed for a heavy fall today when May gives her speech. Surely you can't go wrong with that. But then it would mean everybody wins. Lets see.

 

[greedy and cunning]

you can be sure any financial concoctions originating from USAss is a hoax ,scam.
a casino.
bank can sell gold even it don't have them.
bank can lend more money that what it has.
everyone heard of JP Morgan , Citi Group , Rothschild bank ,
HSBC , Bank of America ,Deutsche bank
but more many are aware of an organization that is
involved in the shadow money lending system.
besides other big banks ,the above mentioned banks are
also the stake holders of this org.
this org spawned the trillions dollars global derivative market
its name - ISDA
International Swap and derivatives Association.
there is one product that allows players to bet on the
rise and fall of LIBOR, without the bank having to loan
out any money.
the contract states "on a notional sum of ..."

 

[Jah_rastafar_I]

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.

Pls back up your words and provide the evidence. Pls keep to your word to provide it.

 

[winnipegjets]

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.

Buy ETFs instead of mutual funds/unit trusts.

 

[johnny333]

Buy ETFs instead of mutual funds/unit trusts.

Yes came to that conclusion years ago when the unit trust I had invested in didn't perform.

Going to put some money into ETFs after I find out more about Trumps plans for the US economy.

 

[dancingshoes]

Pls back up your words and provide the evidence. Pls keep to your word to provide it.

http://www.fscomeau.com/why-technical-analysis-is-bullshit/

the above link is just one, if you need more, you can just google for it.

 

[Asterix]

you guys are just ordinary punters.

GBP is primed for a heavy fall today when May gives her speech. Surely you can't go wrong with that. But then it would mean everybody wins. Lets see.

The pound climbed against the dollar, set for its biggest advance since the global financial crisis, as Prime Minister Theresa May said U.K. lawmakers will get a vote on the final deal for an exit from the trading bloc.

The currency strengthened against all major counterparts as May made the announcement in a speech laying out the government’s Brexit strategy, which involves pulling out of the EU’s single market. Sterling is rebounding from Monday’s biggest decline in a month that came after the Sunday Times reported the main substance of May’s speech without the additional detail on the parliamentary vote.

https://www.bloomberg.com/news/arti...-before-may-s-speech-as-inflation-accelerates


THIS IS SO FUNNY ................

[video=youtube;RP4abiHdQpc]https://www.youtube.com/watch?v=RP4abiHdQpc[/video]

 

[The_Hypocrite]

The pound climbed against the dollar, set for its biggest advance since the global financial crisis, as Prime Minister Theresa May said U.K. lawmakers will get a vote on the final deal for an exit from the trading bloc.

The currency strengthened against all major counterparts as May made the announcement in a speech laying out the government’s Brexit strategy, which involves pulling out of the EU’s single market. Sterling is rebounding from Monday’s biggest decline in a month that came after the Sunday Times reported the main substance of May’s speech without the additional detail on the parliamentary vote.

https://www.bloomberg.com/news/arti...-before-may-s-speech-as-inflation-accelerates


THIS IS SO FUNNY ................

[video=youtube;RP4abiHdQpc]https://www.youtube.com/watch?v=RP4abiHdQpc[/video]

Tat is why the TS is right about currency trading. The pound is supposed to go drop but it went up..There is no reason for it's appreciation.

 

[cocobobo]

Tat is why the TS is right about currency trading. The pound is supposed to go drop but it went up..There is no reason for it's appreciation.

every indication is it will plummet, just question of how far. And yet it went the other way, leaving all those outside the inner circle licking wounds.
its rigged to hell.

 

[scroobal]

It went down because of uncertainty. The moment Theresa May made crystal clear what UK position is it showed certainty and therefore it went up. It will appreciate to recover its position.

Tat is why the TS is right about currency trading. The pound is supposed to go drop but it went up..There is no reason for it's appreciation.

 

[datingafter3]

I have decided to call it quits ... 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.

I started trading in 2006. Invested over $5k in education and another $5k to $10k in the market. In 2015 made my first 100% capital gain. In Jan 2016 made over 80%. Blew up 2 accounts in between Feb and March unable to repeat my record in Jan 2016.

Now consistently made $25 to $50 USD with a full time job daily using only $2.5k in trading capital.

Trading is hard because we gravitate towards losses more serious than winning. So the cliche is we tend to hold on to losses more than winning and thus even when we win we only win a little, so little it doesn't make sense if we were to hold on to losses which we hope the market might turn back and get out with a breakeven.

There are many systems in the market but most importantly to be profitable. You need to assess your personality and time.

It takes 12 years and a few $100k to be a brain surgeon. Trading is no different.

Everyone quits once in awhile. Life is too short to look at quotes and squggingly line.

However if you want to make money in a recession proof skill making $25 to $50 a day using nothing more than $2.5k let me know. A $10k savings account only returns less than 1% in a UOB or OCBC savings account. A $50k returns less than 3%. No different from endowment plan to fixed deposit. An insurance plan with AIA also about this figure.

Once I'm making consistently I will invest in dividend in blue chip stock like osim or hyflux. Luxury and water will also be around. Property like City Development also seems to be doing well but China I'm not sure. But China Stocks are definitely moving more points in a day than Singapore stocks.

 

[cocobobo]

In my circles that was a speech about nothing. Everything she mentioned, especially trade, UK were doing it much better as part of EU. Its a surprise why the pound went up, but then its no surprise.

 

[Asterix]

Open in a certain relationship with a certain known level, imply buy on drop to a certain level X points above a certain pre-determined level. Buy 2 @ 23080.

Stop of say 30 points hit, Sell 2 @ 23050. Loss = 30 points per contract. Flat.

Goes > Y % below same pre-determined level as in 1, sell on rebound to X points below that level. Sell 2 @ 23060.

Cover half if move to within X points of the next pre-determined level in desired direction. Buy 1 @ 23022. Profit = 38 points on 1 contract.

Cover half if move to within X points of the next next pre-determined level in the same direction. Buy 1 @ 22963. Profits = 97 points on 1 contract. Flat.

Nett result for morning = HK$3,750 per 2 contracts. That’s HK$15,000 per 8 contracts.

Versus Asterix’s sometimes anyhow humtum and sometimes not anyhow humtum results of HK$16,310 on maximum of 8 contracts. Lucky only!



Open and then goes Y% above same pre-determined level as in 5. Buy 2 @ 22963.

Certain indicators on certain higher time frame(s) confirm a reversal is more likely than not. Okay, no need to panic, can fall asleep.

Cover half if move to within X points of next pre-determined level in desired direction. Sell 1 @ 23002. Profit = 39 points on 1 contract. Move stop up from 30 points below purchase price to X points below same pre-determined level as in 8.

Cover half if move to within X points of next next pre-determined level in the same direction. Sell 1 @ 23060. Just nice 1609 hours. Why take so long arh! Gu niang! Profit = 97 points on 1 contract.

Nett result for afternoon = HK$6,800 per 2 contracts. That’s $27,200 per 8 contracts.

Versus Asterix’s sometimes anyhow humtum and sometimes not anyhow humtum results of HK$7,274 on maximum of 8 contracts. Not so lucky this time!



For the entire day, the system if judiciously applied, performed better than Asterix’s discretionary methods. Same as for most other days. Pretty consistent in this regard.

Should be able to get better than X points of target entry/exit level if combined with discretionary factors, but not throw away framework altogether and rely totally on discretionary factors.

Find way to fit scaling in and out within general framework, shouldn’t be too difficult.