Back then, I believe these guys had some knowledge of where the supply/demand was from a big picture standpoint. Someone in this thread mentioned how pit traders didn't use charts......however, they did have knowledge of pivot points. Heck, they ...

Billion Dollar Day - Documentary 1986

It's so easy to trade w/ other people's money isn't it?

Billion Dollar Day - Documentary 1986

Were these guys taking these huge positions w/o using charts back in the day? If so, I can't believe it!!! It appears that they are doing nothing more than reading the tape and using gut instinct. Amazing!!

Billion Dollar Day - Documentary 1986

True....but, there is a big difference when you are actually trading amongst a group of traders using a proven strategy for years and years. Forums do not provide accountability. Some guy from outta nowhere, enters a forum, comes up with an "idea" ...

Why are most retail traders usually on the wrong side of the market?

Basically, a trader will continue to lose if he is trading incorrectly; out of harmony with the markets. If a retail trader is taking huge losses, they are probably getting blindsided because of a lack of knowledge. Unfortunately, most retail ...

Why are most retail traders usually on the wrong side of the market?

This is an absolute "no brainer". According to your original post, you are simply taking "another job" which presupposes that you have a job already. In effect, your employment status and daily routines will not change. Therefore, it shouldn't ...

Would you stop trading if you found better paying job??

Personally, I would prefer an educated person if I was hiring traders. Because, at least, they have demonstrated that they can start something and then finish it (i.e. earn a degree). It also means that this person is probably much more dependable ...

What kind of person can trade?

I am an engineer by profession and I believe that if you have an analytical/logical background, it can be prove to be a liability to trading. The first thing that analytical/scientific types will do is look at a FX chart and assume there must be ...

What kind of person can trade?

There are three pillars to being a successful trader: 1. Talent - You flat out have to have an ability to read charts and interpret price action. A competent mentor can partially fill any deficiencies in this area, if a trader is fortunate enough to ...

Why are most retail traders usually on the wrong side of the market?

I agree 100% with this post. Every day of the week, fresh meat (retail traders) enters the FX market. It takes a tremendous amount of hours to master trading. As an example, there are only 12 NFP reports per year. That is not nearly enough time for ...

Why are most retail traders usually on the wrong side of the market?

You are full of yourself aren't you? Slightly on the arrogant side.

Beyond systems and psychology

FOREX is unique in that it really doesn't matter if you have a $100K account or a $10K account because of leverage. If I were trading stocks with a $10K account, I would be trading with limited leverage and would have limited opportunity to make a ...

Beyond systems and psychology

profitable [/I]trading is making more money than you lose, it's a really simple concept which is often complicated totally unnecessarily, and ineffectively. If you make $500 and then lose $499 every week consistently, do you consider that ...

Beyond systems and psychology

If you are replacing your income trading part time....then it is a no brainer to start trading full time. Otherwise, stay the course and keep trading and learning.

Taking it serious and accelerating my learning curve

I have traded the lower timeframes for years......and as much as I hate to say it .....you will only get the mega pips when you start trading the higher timeframes. If you are trading with the correct methodology, it should be scalable to the higher ...

Taking it serious and accelerating my learning curve

All I can say is stay humble because you never know what tomorrow will bring.

I've hit a wall

IMHO, the "turtles" did not display any special trading talent. They were simply good at following time tested rules. Anyone of average intelligence can do that. The real talent is whether or not they could have become good traders w/o specialized ...

I've hit a wall

It will take you about 500 losing trades before you get the hang of trading FX. It takes that long to figure out that it is better to feed the market 30-40 pips than 150 pips or $300 worth of pips when you are wrong. After 500 losing trades, you ...

Going live first time

I have been trading FX for years and I can relate to the ongoing learning process. When I look back at trades I never took due to a lack of knowledge, it is mind boggling to me......How could I have not seen that!!!!! I don't really want to learn ...

Travails of a Money/Fund Manager

Excellent post. I run into big losers maybe every 3 months or so like clockwork. It usually starts after I have a string of losers in a row. The desperation to get the money back can be overwhelming. The string of losses can be brought on when there ...

Don't just make money...KEEP IT!