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I don't know what pedantic means but what I said stands on its own. With out going into to much detail I'll try again. A trader exchanges one currency which one country prints for another currency that another country prints. I see finite, not infinite monies there. You may be missing the...

How do you figure the pot is infinite? Maybe in theory the US or other countries could just keep printing more money and drive inflation up but even then it is only as infinite as the speed at which they print it. When I buy or sell at a certain price that amount goes from my account to...

I agree. There are non-speculative institutions and individuals who create inefficiencies in the market by buying and selling large sums haphazardly. But every individual speculative trader, whether profitable or not, is still competing against each other for those dollars, or yen, or...

This is true. So a fair conclusion would be that there isn't one losing trader for every winning trader but there is one losing dollar for every winning dollar. One large trader could potentially win money from several smaller traders or from just one other large trader. As for the original...

Good posts thanks. It sounds like if I study hard it should be pretty easy. I've heard the CFA is pretty difficult and takes a lot of time. Having a CFA however is considered better then even a college degree for investment type jobs. It garners a lot of respect. Good Luck.

Thanks. Actually I just ordered their study guide and CD. The company seems professional and the price isn't to bad.

No offense, but calculated risk? He bought real estate at the the peak of a historic housing bubble. If you call that calculated risk you may want to have someone else manage your money. I will give you the fact that he had balls. I will even add that he probably has some heart too. Like...

Thanks for that, I will check it out. I have searched quite a bit already though. I was just posting to see if anyone who has taken the test has any up to date advice. I figured this is the site where these types of people would hang out.

To be labeled a genius in any field you have to show outsized success. In physics that might be a new way to understand how gravity works, in math it might be a new complex formula that can prove why birds always fly in unison, and in investing it would surly be measured in long term consistent...

I'm still not sure I understand what your getting at. And I mean this with all due respect. If your friend had invested in real estate 1-1.5 years earlier like you state he would still have more then likely lost and been seen as a "loser" like you see it. This is because he clearly did not...

I agree, it does take hard work, money, and time. I actually think it took me longer then most. I traded FX for two years before I got consistently profitable. And before that I traded many other markets with varying degrees of success. I lost lots and lots of money and spent a lot of time...

I have heard this "almost 100% lose their money" from people before and it seems a little hard to believe. I actually interviewed at the old CBFX in Boston a few years ago and the individual running the trading desks told me the same thing. I have been quite profitable trading spot FX for...

I have to study for and take the Series 3 exam here shortly and was wondering if anyone has an opinion on the best place to get study guides and stuff. I have listed some companies below that offer materials, anybody have an opinion either way? www.stcusa.com www.KFeducation.com...

I see your point and I don't think he is a loser, he just had bad timing. If he had made money 1 to 1 1/2 years earlier like you say it is apparent by his recent actions that he would have probably parlayed those earlier winnings to make an even bigger amount. So either way the timing would...

I would have to say that blaming timing for an investment or business failure is also a cop-out. Figuring out whether or not it is the right time to initiate an investment is part of the hard work. We as traders should know this. For example, if I shorted the Dow on 3-09-09 I would have lost...

Sandybestdog, You do post some interesting points. I don't know why you have worked so hard and haven't found success. It is an up and coming belief that thoughts are things. So if one is constantly thinking about and talking about why they always fail that person could very well be...

You can try www.netdania.com. Click on a currency pair in the upper left corner and a chart will open. Then you can select any currency pair from the chart. To see more data, change the period to 1000. I think you can go back to 2005 on a daily chart.

I personally don't see what the big deal is. FXCM is not lying about anything. The prospective trader knows what the currency prices are, they know what the margin requirement is, they know what the leverage is, and they know what the pip cost is. It is just a contest like any other. FXCM...

Buy the rumor, sell the news

I use Tradestation to trade one of my strategies which scalps the mini-dow. I place about 30-50 trades per day and I use their matrix entry window to execute the trades manually. I have no complaints at all. The speed of execution seems instantaneous and I haven't experienced any down time...