Whom do you trust?

so in that case Symons,Buffet,Soros, etc are also "untrustworthy" because they set up a business of managing O.P.M. ?

You guys seme to think traders should only trade their oen money. Anything else is a scam? Right.
 
Quote from Georgii:

Hello all,

I'm a new trader. One of the biggest problems I have is figuring out whom to trust as far as market analysis and learning trading skills are concerned.

I've already learned long ago not to trust "trading signals" websites (the very idea of someone else telling you to trade is silly - in that case might as well just give your money to be traded), or trading systems.

There are books written by so many people, some of whom work for brokerages, some of whom are supposedly traders, and most of them are also trading coaches.

The painful question that always seems to get asked is "If this person is a really successful trader, why are they teaching seminars? They should just be trading and making millions". Isn't there a danger in listening to the wrong source, and learning the wrong ideas about trading?

The problem comes down to trust. What criteria do you use to find out if you can trust a certain trader or analyst? Through many months of reading, I've come across many sources of information and you just have to ask yourself, what is valid and what is not. I mean, I'm sure after all the books and websites I've read I could probably write an article on how to trade, even though I am not yet a success by far.

Has anybody any suggestions on what they do in order to establish credibility? Sure, you can go trial and error, but you can end up wasting a lot of time with the wrong information.

Thanks for any input...
More...

You're totally missing the point. The problem doesn't come down to trust. The problem is that you're focusing on technical analysis and trying to figure out which trading method/system is better. Traders are independent thinkers, they don't follow the crowd, they don't seek general consensus as you do. Trading is not black and white.

Just pick whatever method you believe in and slowly start improving that method. Learn from your trading journals. Start focusing on YOU, you're the biggest factor in your trading, otherwise next year you'll be facing the same dilemma that you're facing today. The holy grail you're seeking is within YOU, stop placing responsibility for your lack of success on things that you cannot control. Start seeing where the real struggle comes from.

Ed Seykota said it best; "Win or lose, everybody gets what they want out of the market. Some people seem to like to lose, so they win by losing money."

Until you will understand the true meaning of the above quote, and until you grasp what trading is actually really about, you'll be wasting your time (and money).

All the best
 
echo the thots of consistent & redneck

OP, u seem like a smart guy - so i'm surprised ur even thinking of trusting the BS analysts who appear on TV ...

my tips

1. stop tryin to understand why the mkt is up/down

2. rel to 1. , ....chuck "funnymentals" & become a purely tech trdr

of all the inputs into systems - the only undeniable objective reality is price action
all else is just a bunch of assmpns

as a purely tech trdr , u have a cleaner context in which to analyze errors & improve

wi "funnymentals" u can always find some reason for +/-
hav u ever seen an economist who was ever wrong?


just my 2 c
 
Quote from Mr.Consistent:

Traders are independent thinkers, they don't follow the crowd, they don't seek general consensus as you do. Trading is not black and white.


Ed Seykota said it best; "Win or lose, everybody gets what they want out of the market. Some people seem to like to lose, so they win by losing money."

Until you will understand the true meaning of the above quote, and until you grasp what trading is actually really about, you'll be wasting your time (and money).

All the best
More...


And you will see that's it's really hard, in fact I was still fighting against consensus until now.

I just see what Mr Seykota says to us... thx Mr Consistent. I never saw it in this light... :cool:
 
Quote from Mr.Consistent:

"... Ed Seykota said it best; "Win or lose, everybody gets what they want out of the market. Some people seem to like to lose, so they win by losing money."

Until you will understand the true meaning of the above quote, and until you grasp what trading is actually really about, you'll be wasting your time (and money).
More...

With deference to Seykota's fame, this statement is a pant load.
 
By limiting the sentence rightly you help me a lot...

Would Mr Seykota have said that trading is the act of helping to clean others people spirits and souls ?
 
Quote from SNBthetrue:

By limiting the sentence rightly you help me a lot...

Would Mr Seykota have said that trading is the act of helping to clean others people spirits and souls ?
More...

I think that was Doug Allen.
 
Quote from Georgii:

Sure, you can go trial and error, but you can end up wasting a lot of time with the wrong information.
More...


trial and error is how we learn..

the amount of time and work it took me to become a successful trader is absolutely ridiculous..
 
Quote from RedDuke:

Price action is what you can trust. Trading is gambling. Professional gamblers can make money because they know when to fold and when to bet.
More...

Exactly what i want to say..Trading is just gamble...

Easy Forex
 
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