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cyberbob222

Trading - My Beginning and Conclusion

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Hello Everybody,

 

This would be my first post in entire /2 week long/ experience with forex trading.

I have been reading day and night to learn and give myself best possible try on markets.

I probably will shock a good few of you, but sure, i am gonna tell the truth:

 

Facts:

1. Within first day i have made 60% profit.

2. Second day i have lost the profit and another 20%.

3. I have started making more trades with lower amount of investment - i do something what you would call trend scalping - 5min to 1hour waits, each day i gain.

4. For most of the days i have been successfull in demo, but when i opened real account, i blew 200eur.

 

Conslusion:

1. Real account is twitched so you WILL loose money. Why i think so?

Population /ordinary people/ has the highest amount of money in their pockets in opposite to banks, governments etc. Somebody created a system to get the public involved as well, so there is more money on the stake. Whoever founded the system, will make sure, those money will change the owner earlier or later. But sure, there is some intelligent ones who found their way around.

2. Whole pile of indicators is a huge pile of nonsense - all i used is my learned analytics and probability gut feeling. I have tested number of described systems, and once you get a grip, you can easily notice that there is nothing really exciting in them, you can see whatever you want without them.

3. If there is only 10% of winners, why would you bother sitting all day staring at the screen in loneliness? Wouldnt it be easier to start a business with real people and make some more fun out of it?

4. I watched interviews with most successfull brokers on wall street, and they all are supertitious :-)) Why? Becose the market is not to be understood - it is to be a mystery, same way the fortune telling is.

 

I hope i havent offended too many traders, it is just my personal opinion on it overall.

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Speaking for myself, I am not offended. I found it interesting, and yes, a little amusing ( no offense intended ) hearing from someone with 2 weeks experience.

I hope you endure my friend, I would like to hear your opinions in 2 months, and then again in 2 years.

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That certainly didn’t offended me. Thanks for a very refreshing post. These thoughts that follow are not intended to offend you either...

 

re

1. Real account is twitched so you WILL loose money …
but the sim account isn’t ? Hm ???

 

2… you can see whatever you want without them
No truer words have been spoken… it’s even ‘truer’ when you just see “you can see whatever you ‘want’”

ie it takes a lot of practice, but the first thing you should notice when you look at a chart is your own previously unconscious biases

 

3… sitting all day staring at the screen in loneliness? Wouldnt it be easier to start a business with real people and make some more fun out of it?
It would definitely be easier to start a business if indeed that is more fun than “staring at the screen” … ie people who wouldn’t be 'lonely' for their charts would be better off finding something else to do

 

4 successfull brokers on wall street
brokers are not traders … and re superstition – facts can be known, mysteries can be understood… superstition comes from trying to 'know' mysteries and/or 'understand' facts…

 

re

1. Within first day i have made 60% profit.

2. Second day i have lost the profit and another 20%.

Have you questioned that you may be gambling, not trading?

:helloooo:

Have you questioned that you may be trading with way way way way too much size ????????

:helloooo:

 

3 I have started making more trades with lower amount of investment
Yes :) you have questioned that you may be trading with way way way way too much size :)

 

4 For most of the days i have been successfull in demo, but when i opened real account, i blew …
my advice... NEVER ever sim again !!!!! … at least until you have matched your methods to your nature via real life trading … then deliberative practice for certain situations on sim is fine…

 

Thanks again and have a great life cyberbob no matter what you end up doing

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...

4. For most of the days i have been successfull in demo, but when i opened real account, i blew 200eur.

 

even being the best in a first person shooter game does not mean that you can survive in a real battle...imvho

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3. If there is only 10% of winners, why would you bother sitting all day staring at the screen in loneliness? Wouldnt it be easier to start a business with real people and make some more fun out of it?

 

You could always do both! If you only trade end of day then you could also work full time, which could include starting and running a business.

 

BlueHorseshoe

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hey,

 

i knew it may trigger somebody to use critisism as self defence, but as i said, i havent even tempted to do it.

 

After acknowledging vast amount of information, i am still trading. I really started looking for an answer why so many people do it /if they do it, they must be succesfull then/. I really put an afford in the research and methods offered here and there. Throughout the day i am between learning and testing what i have learnt. I have periods of wins, and then hours of losses - and i cannot tell where it comes from.

At some point today, i thought that scalping is quite exhausting, and tried longer time gaps with actually better result.

 

There is something i still havent seen, which is scalping done by somebody else - it is actually unbelivable, there is so many learning resources, and nobody ever showed how they do it. To show a chart with trade points on it, and to tell a story after the trade, is a piece of cake. But i actually am ready to buy a lunch to the one who could actually record a few minute session.

 

Another question comes to my mind, some of you guys say that achieving 10% roi in a months time is good. How this can be good? This is a disaster to spend those hours on the computer for 0.33% a day??!! I am sure you would make more if the money you risk put against few chaps selling dougnuts around the city - they would make much more! Even if that 0.33 means 30k a day - it is still very little comparing to the risk. And i could give my mortgage for that - if it was 30k a day, you wouldnt do it yourself - you would rather hire a broker so you can go kite surfing in meanwhile ;-)

 

Guys, what keeps you at those computers for the whole day? If it is 10%/month - it is not obviously money....

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hey,

 

 

Guys, what keeps you at those computers for the whole day? If it is 10%/month - it is not obviously money....

 

 

Besides finding it mentally stimulating, there is a lot to be said for not having to deal with

customers, employees, withholding tax, sales tax, and the vagaries of weather.

( Probably don't sell a lot of dougnuts in a snow storm ).

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Guys, what keeps you at those computers for the whole day? If it is 10%/month - it is not obviously money....

 

if you are making 10% a month - the power of compounding would keep me sitting at a computer.

Plus hiring a broker LOL - dude (with reference to the kite surfing all day) - you aint learnt nothing :)

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What you say about brokers is true thier business model is churn and burn. Also I hope you have a real broker account and not some form of spreadbetting account because scalping will be near impossible.

 

I wasn't trying to be rude I was generally intrested to see if you will continue I agree with lots of what you said, I think for many people trading is an expensive hobby.

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...

 

After acknowledging vast amount of information, i am still trading. I really started looking for an answer why so many people do it /if they do it, they must be succesfull then/.

 

...

 

 

 

I guess, many do it because of the potential it provides. Everyone is able to hit a big winner once in a while or even a winning streak. Hence, you see what is possible in this endeavor. But winning consistently is what most struggle with. Yet, they stay in the game due to the potential they see. This is human nature I guess. Of course, many don't achieve this potential.

 

 

 

...

 

I have periods of wins, and then hours of losses - and i cannot tell where it comes from.

 

....

 

 

 

Well, it sounds like you have no plan. Otherwise you would know where your losses come from. Every trading methodology produces wins and losses. You have to know what the "normal amount" of losses of your methodology is. And if you have a plan, you also know when you deviate from your plan. Hence, losses related to you deviating from your plan are due to lack of discipline or emotional problems.

 

 

 

...

 

Another question comes to my mind, some of you guys say that achieving 10% roi in a months time is good. How this can be good? This is a disaster to spend those hours on the computer for 0.33% a day??!! I am sure you would make more if the money you risk put against few chaps selling dougnuts around the city - they would make much more!

 

...

 

 

 

Just do the math. 10% consistently per month means you increase your investment 200-fold in less than 5 years. I.e., a $5000 starting capital would grow to $1m in less than 5 years (of course, assuming your methodology is scalable and the market you are trading is liquid, like the ES, for instance). How many doughnuts do you have to sell to get that profit?

 

Hence, this is a VERY good return, if achieved consistently. Very very few hedge funds achieve this.

 

 

 

...

 

Guys, what keeps you at those computers for the whole day? If it is 10%/month - it is not obviously money....

 

 

 

For many, it is also the flexibility that comes with it... having no boss, no employees, no customers, etc. and depending on what you have done before trading, it can be less stressful and provide for a much better well-balanced life.

 

You sound like a young fellow who hasn't spent much time in a corporate career. It is all relative. You might have a different view with a different background...

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...Guys, what keeps you at those computers for the whole day? If it is 10%/month - it is not obviously money....

 

%10/month can turn $10k into approximately 900k in 4 years

 

 

ops, should have read the 2nd page before replying :rofl:

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Hi zdo,

 

Interesting article. But what is the link (not "hyperlink" :) ) to this thread? I don't quite get it... :crap:

 

You mean, as OP has asked for the reasons why people choose trading as their profession other than money? And they did so as they are introverts and like to work alone?

 

Regards,

k

 

PS: I am an introvert... ;)

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:-) I am in my mid 30's and i have just taken a few weeks off to avoid burnout. I am involved in 2.5 ;-) businesses of different industries. To have my phone switched off is extremally plesant i must say.

And simply due to plenty of free time, i started with trading, i always wanted to do it, after was infected by one of professors in college years ago.

So to make a quick assumption over a few posts, may be quite misleading, and i learned along the way, not to judge people on the first date ;) I remember a gentleman i have met 6 years ago /we are still friends/. He looked, smelled and spoke like a red necked farmer. Dirty shoes, messy hair, not shaved /looks almost like me ;) /. And the guy turned out to be a CEO of a large retail chain in Europe. After one of a few lunches, i have seen him jumping into a fat, white Jaguar with two exhausts at the back. He has 4 kids with his partner, mid 50s, and the reason why he is still not married, is similar why catholic church doesnt allow priests to involve into married relationships.

By the way, i learned recently, that the only body which owns more property than catholic church in this world is Ray Kroc /McDonalds co founder/.

 

Going back to trading - I have just changed approach a bit, rather then trying to predict the trend, i started reading candle charts searching for current signs of change of patterns. It seems to work much better than fortune telling ;-) But it is not hard to predict what will be happening with eur usd in this very point of time, it seems reaching its own extremum just an hour ago. Lets see how right i am ;-)

 

Are traders introverts? I would argue. I am an extreme extrovert - thats why i prefer outgoing solutions rather than watching chart. But as exemption from a rule - i enjoy my time of analysis. Geeks wouldnt have social emotionals developed to the extent where they could think for the rest of the world. ...and that is i think large skill to have here.

 

Looking at the charts of eur usd, i must say there is about 300euro to be made buying 0.1 lots throughout the day, just by looking at the longest trends. And this would be much more than 10% roi. Hoping to be succesfull on 50% rate, we talk much more than 10% roi. Anybody think it is possible?

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Also I hope you have a real broker account and not some form of spreadbetting account because scalping will be near impossible.

I wasn't trying to be rude I was generally intrested to see if you will continue I agree with lots of what you said, I think for many people trading is an expensive hobby.

 

I am using roboforex.com, they seem to have good spread, and available ecn i am testing at the moment. For a starter, their customer service chat could be better, but otherwise cant complain.

 

I will continue, i really think there is money to be made, and much more than 10% a month, much much more. I hope i will be able to proove it one day.

 

I am hard to offend, i like to confront matters, i like discussion and exchange of sparkly thoughts. I always enjoyed meeting up with people for idea exchange, sometimes you can learn new tricks in a trade you know inside out, everybody is different, we all focus on different ingredients of the same old dish.

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Hi zdo,

 

Interesting article. But what is the link (not "hyperlink" :) ) to this thread? I don't quite get it...

 

...

 

 

it was just a very general link - that the levels and intricacies of extroversion and introversion are usually somewhere in the mix anytime “maybe I’d rather _______ than trade” content comes up...

 

I suspect more introverts are attracted to trading than are extroverts... but have no clue what the real stats are...

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If there is only 10% of winners, why would you bother sitting all day staring at the screen in loneliness? Wouldnt it be easier to start a business with real people and make some more fun out of it?

 

 

The attrition rate in forex is pretty high - 90 to 95 % of traders fail. But opening a business isn't easy either - most new businesses fail also at about the same rate (95%) . So the forex is in line with opening a business.

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