The Truth about Forex

Quote from trade2live:

I don't why but I smell something fishy. Is this a joke ?
You leverage up on carry trades that you keep for years ?
That's not being an FX trader ... you trade FX based on funny mentals, you manage a few mil and have 10 K plus a month in data subscriptions ? wtf , a bad week is 500 pips lol And funniest of all, a client asks you to double his money " in just a few months " and you oblige !
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Talking of spades..

This is fishy in itself: A CTA mocking fundamentals..
Well, I'm sure Mr. Soros will have a good giggle at your funnymental joke.
Lucky for him, you're not going to threaten his edge anytime soon.

And a CTA claiming that a carry trade is not fx trading?
Despite the fact it's a strategy as old as the hills?
And will always be used as long as interest rates exist..???

Is this for real? What planet are you on?


Is this really 'fighting shills', or is it just an excuse to have a pop at someone?
Can I suggest buying a punchbag instead?


There's not much inspiring going on around here.. just lots of people with no credentials shouting "YOU'VE GOT NO CREDENTIALS!!" at other people.


So, who polices the police?
 
Quote from Zr1Trader:

"the truth about forex"

http://www.elitetrader.com/vb/attachment.php?s=&postid=3799960
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The real truth about fx:

1. it's like any other market, it goes up, down, and sideways
2. it's not like other markets because it's priced differently
3. you can get silly leverage, if you want it. You can blow your account to kingdom come. No-one will stop you.
4. the retail environment does not encourage traders to do proper research and investment in research - it just wants you to open that free 5 minute chart and start churning. (increased cost, lower profit margin, requiring higher winrate)
5. the book industry is full of losing traders writing books telling you how to be madly in love with the 5 minute eurusd chart
6. forums full of losing traders telling other losing traders how to trade the 5 eurusd minute chart
7. forums full of losing traders listening to losing traders on how to trade the 5 eurusd minute chart
8. forums full of people who require 'proof' that trade-from-home guys exist
9. forums full of people who shield you from professional traders by projecting their idiocy in their special 'stick with us pal' way
10. like any other trading, you need a method/system/edge thats profitable, which will only happen if you make it past the obstacles (2) to (10)

and at the end of all that

11. certain bucketshops who slice a little extra off you every time you trade

I could go on..
Whats not to love?
 
(ahem) yen?

My bad about the CTA comment, I mistakenly thought your profile said you were a CTA. (it was actually the last thread you posted in.)

That doesn't lessen your amateurish comments about carry trades and fundamentals.
Which makes you the one who hasn't a clue what he's involved in.
 
Quote from trade2live:

CTA's generally do not use funny mentals
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Thats quite a bold statement, and pretty clear.

What led you to that conclusion?



Also, if you don't mind I'd like to modify one of your previous posts so that the newbie traders have some context; 'pretty obvious to me' comes across as a qualified comment, when in fact thats pretty questionable. So I've changed it to reflect your FX knowledge accordingly.

We wouldn't want any of these new guys to be misled now, would we?


Quote from trade2live:

The OP is probably a fraud, pretty obvious to me (but bear in mind I don;t believe in trading using fundamentals, despite big big names doing this for huge superior returns, and I also don't believe in the carry trade despite it being one of the better known strategies used by fund managers and banks worldwide to generate above average returns)
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Todays lesson: If you're going to turn up and pretend to be smart, make sure the other guy is at least *slightly* dimmer than you.
 
Roughly 1/3rd of forex accounts where profitable for the quarter. They where just profitable!!!!!!!!!!!!





Or debbie downer, Roughly 2/3rds of accounts lost, they just lost!!!!!!!!!!!



Carry on with the hostility, I'll be gone now :cool:
 
thanks for popping in!


Grab some popcorn and stick around, he's about to completely ignore the fact he made some glaringly amateur statements about fundamentals and carry trades.
 
dev , you are a joke (it's obvious you don't know what you are talking about), as for the OP well draw your conclusions (carry trade, low DD's, 20% ROI), let me laugh. Personnaly I find carry
a terrible and dumb strat but hey to each his own, and you can make money with it, if you like the risk.
 
Quote from trade2live:

dev , you are a joke (it's obvious you don't know what you are talking about), as for the OP well draw your conclusions (carry trade, low DD's, 20% ROI), let me laugh. Personnaly I find carry
a terrible and dumb strat but hey to each his own, and you can make money with it, if you like the risk.
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You really think 20% return with low drawdown is a terrible objective for a fund manager? Seriously, are you on drugs? Do you ever read anything beyond this forum?

The OP has been frank and pretty open.
He's been pretty clear about his objectives, and these objectives are fairly typical in much of the funds management world.
His points about leverage are spot on - his chances of blowing up are significantly less than a retail guy.
They have to be. In that light, lower leverage carry and fundamental trades are a good choice for his objectives. Nothing wrong with that.
A goat with brain damage could grasp this concept.
Even a goat with no brain to damage, could grasp this.

You on the other hand, seem unable to say "oh ok, that's nice but its not for me" and instead sit on the side making snide remarks and passing your 'judgement'.
It just makes you look jealous. Or paranoid.
Or just another silly little web-bully.


Read it all back if you don't believe me.
 
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