Most forex volume is not trading, it's currency transactions not speculation.
You're a Liar
- Thread starter ElectricSavant
- Start date
Most forex volume is not trading, it's currency transactions not speculation.
ElectricSavant,
Why do you state such thing? Do you need some help with something? Can you provide some reason or logic to this?
My first task when I decided to day trade (part time for now) was determine one thing: Are their traders who make a living day trading?
That answer is YES.
A better thread you should start is asking ET members if they know or are they making consistent living trading.
It will cost you time and energy and money, but so does a trade school at the local college.
Problem is ES just wants people to hand him information or hold his hand and show him exactly what should be done to trade and make money. This is the typical ET laziness I always bring up. Successfull traders put in the hours NOT looking for shortcuts or magic unicorns to follow but learning how to read the markets and react. This is something that does not come down to MA crossovers or magical stochastics. Many will fial because they expect to get on YouTube and find a simple 3 step pattern to repeat to make money.
Lazy people shhould not be in the market nor are they ever successful.
Lazy people shhould not be in the market nor are they ever successful.
El OchoCinco,
Good comment and you are sooooooooo right. I can tell you, I have been there trying those if indicator X above 20, and indicator U less then 40 enter here trading systems, set stop to 28 ticks, hold. It does not work.
For ES or anyone reading, I can say for sure, there is no shortcuts to learning this trading business. I have no reason to tell false things, but it is hard work especially finding the right material to study and gaining the CONFIDENCE and finding an edge within yourself. Takes alot of studying and practice, and thinking and planning, and just getting to it. I am Still learning and practicing to reach consistent profitability state and confidence, haven't reached it yet, haven't made a dime in trading, but I'm on the right path, and THAT is what is important. But have to enjoy the journey and the trenches.
Last edited:
Get very technical on me huh? Very, very.
I believe you when you say you can feel the emotions using sim. I might feel the way under such circumstances as well.
But sim is NOT real. Close but no cigar. Close ain't good enough for me.
Perhaps others might agree, but if you been profitably for ten years plus, most sold systems, or TA or charting, you have knowledge to adapt almost anything to be a profitable system. You just learn how to adapt and spot potential problems in a second, you understand what works and what doesn't, you don't ask ET what do they think about trading plan. How can I know if someone else's plan is good without knowing their system, and they won't give it up as it is some secret sauce. You just trade long enough, you have back tested so many ideas, and seems you never run out of ideas, very very few systems other than maybe complex mathematical produced, qualified traders have not tried. I really doubt those with much experience just stop studying. I never run out of ideas and 99% of my time is back testing.
The big thing for masses to learn right now is "order flow", going to see courses up the wazoo being sold, it like everything else gone through the years, market profile, TA, Fibs, Gann, etc... and overall won't matter for most, if enough people do it, guess what the sharks will do? How difficult do you think it be for the quants to send in orders into the Dome? people don't think they read all the courses as well, I suspect they do? And after few years trying with that, they still won't know the ins and outs of reading charts. I think scalping is the hardest of all trading cause any kind of volatility change matters and you have to quickly adapt.
Hello Handle123,
I agree with you and thanks for your wisdom and experience.
You mentioned something I am learning as well, and that is "You just learn how to adapt and spot potential problems in a second". Good experience is key in my opinion.
.I have followed you for years and love your thoughtful posts. I am surprised that 99% of your time is still spent in back testing. Why do you do this? After decades of trading and testing would you not just have a couple of proven systems to just trade and not concern yourself with finding something new?
I suspect that for some, it's about the hunt, and not about the kill.