hmm.no edges in the markets

HurricaneUS · Aug 12, 2013

Quote from bighog:

This thread is hereby declared DEAD..

Who started this thread? surfy was it you?

Surf you are one master spinmeister hombre...you've managed to help generate a 179 page thread worth of gibberish in less than one month..I need to hire you as my PR person

for all the other posters...who's the puppet and who's the puppetmaster?

marketsurfer · Aug 12, 2013

Quote from HurricaneUS:

Who started this thread? surfy was it you?

Surf you are one master spinmeister hombre...you've managed to help generate a 179 page thread worth of gibberish in less than one month..I need to hire you as my PR person

for all the other posters...who's the puppet and who's the puppetmaster?

No, not I. surf

Steve Tvardek · Aug 12, 2013

For what it is worth, I have a friend at WTS who runs an equities group but who trades forex himself. He's a pure technicals guy and has been consistently profitable trading this way for many years now. He was also an excellent equities trader back in the day too. Although forex is his focus now.

NoDoji · Aug 12, 2013

Quote from Jack_Larkin:

Also, by blindly asserting that all TA fails because most FX traders lose, then you have displayed two obvious logical fallacies.

Didn't you know that Surf has a Ph.D. in Specious Reasoning?

marketsurfer · Aug 12, 2013

Quote from Steve Tvardek:

For what it is worth, I have a friend at WTS who runs an equities group but who trades forex himself. He's a pure technicals guy and has been consistently profitable trading this way for many years now. He was also an excellent equities trader back in the day too. Although forex is his focus now.

He doesn't use the dark pool access, routing, and other profitable edges provided by his firm? He just uses regular retail access and a chart? WTS didn't teach him strategies and tactics unavailable or difficult to access outside the firm? His success is purely based on a technicals? I find that difficult to believe!

surf

sheda · Aug 12, 2013

Quote from Rodney King:

Marketsurf's point about TA, I believe, is that retail forex traders are the most TA-centered of any trading cohort, so they're the best data set by which to judge the efficacy of TA -- and, as per tobbe's data, they mostly lose money: from 54% losers to 72% losers at the various brokerages. Certainly they lose (they just lose!) in aggregate. I don't see why Marketsurf's simple and correct observations have given rise to such relentless contention and contumely on this and other threads.

Mainly because you are an idiot, retail fx the one market easily entered with a $100 account ~ one hour from idea to first trade yea! Lets take the group as a hole and use their results to judge ta bahahah.Well done, it takes a special kinda...to think like you.

Quote from marketsurfer:

TA is pushed heavily to FX retail via free charting platforms, education, training. Clearly, since FX dealers win when you lose---they have a vested interest in promoting TA as a viable method as its a feel good and looks easy tactic with warped and delusional cranks pushing it as a stand alone salvation to your money problems. FX dealers seize upon this delusion, pushing TA to their clients detriment. Just another obvious observation. surf

Quote from marketsurfer:

However, the universe of currencies is far smaller than stocks so it should not be that much more work. It is just new to a lot of stock traders.

Technical analysis tends to work the same way, and is very effective.

Surf Surf Surf!

sheda · Aug 12, 2013

Tim Sykes would have been screwed without those dark pools back in 1999!

Quote from marketsurfer:

He doesn't use the dark pool access, routing, and other profitable edges provided by his firm? He just uses regular retail access and a chart? WTS didn't teach him strategies and tactics unavailable or difficult to access outside the firm? His success is purely based on a technicals? I find that difficult to believe!

surf

sheda · Aug 12, 2013

Anyone with english as a first lanaguge isnt sent off course by a single missing letter, but hey! Criticism of typing errors does come in handy when the point you were arguing has just been exposed as absolute bullshit!

Quote from Rodney King:

Maybe you have a friend whose first language is English who could pre-screen your posts? Anyway, your solecism is the most accurate bit in the post! Indeed retail TA traders wind up in the hole...

Steve Tvardek · Aug 12, 2013

I just asked him via email and he responded that his equities group is through WTS but that his forex trading is not. It's through an account not affiliated with the firm. And his strategies are based on his own ideas, not learned through working at WTS. He was a technicals guy in equities so it's not a stretch to assume he's applying similar tactics in forex.

Quote from marketsurfer:

He doesn't use the dark pool access, routing, and other profitable edges provided by his firm? He just uses regular retail access and a chart? WTS didn't teach him strategies and tactics unavailable or difficult to access outside the firm? His success is purely based on a technicals? I find that difficult to believe!

surf

tobbe · Aug 12, 2013

Quote from Rodney King:

Marketsurf's point about TA, I believe, is that retail forex traders are the most TA-centered of any trading cohort, so they're the best data set by which to judge the efficacy of TA -- and, as per tobbe's data, they mostly lose money: from 54% losers to 72% losers at the various brokerages. Certainly they lose (they just lose!) in aggregate.

That was not the point I was making. Surf claimed 99% of traders lose, I merely showed him proof of that not being the case even for retail forex traders. In fact at Interactive Brokers, 46% of the retail forex traders are profitable. So in this case Surf was clearly wrong. If he isn't even aware of public data like this, why should we even start to believe that he knows anything at all about "dark pools" etc etc ad nauseum?

Surf then responded with:

Quote from marketsurfer:

I'm not talking about guessing right on a micro account and making $10 of profit. The average FX account from where those numbers are derived is $500.

Surf, once more: would you please provide proof of your claim that an average FX retail account is $500 (considering the minimum deposit at IB is $10K).