Hey guys,
Anyone heard anything about this " analytical firm"
nope why
They`re offering shares with global resource, and green machine - 12 month minimum hold excellent returns etc.. just wondered if anyone had any info on them
Hey guys,
Anyone heard anything about this " analytical firm" ??
The failure rate is 99.99%
..and widening.
As the internet grows more people have access to trading.
Yet are not brought up and educated in traditional styles, and techniqes.
The forex market is absorbing more un-skilled talent then any other industry right now, and this is in a field where there is no room for error.
DT
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Don't get too hung up on my statement about the 90% - it was a figure of speech primarily.
I trade ES intraday, and there's no Level 2 on ES as it's an electronically traded emini future.
I use a 5 min chart, and a 10 minute chart. On those two charts I have price bars and volume bars. Every bar is the same colour. That's it.
I don't use any 'man-made indicators' such as RSI, CCI, MACD, bollinger bands, moving averages, ADX, etc. I just use the price bars themselves to indicate to me what is happening and what I would expect to happen.
When you boil it all down, at any random point and time price will either go up or down, you have a 50/50 chance of being right, that’s better odds than any casino. It’s how you manage your money/trades that separates the winners from the losers.
If you sharpen your edge and gain better odds, it still requires trade management to stay profitable.
It doesn’t matter which direction price takes as long as it moves, the thought of being right or wrong is a trap. Trade an if/then strategy. If price goes here then I do this, if price does not comply simply stop and reverse out of it.
Most traders can not mentally discipline themselves and their emotions to adhere to even the simplest of trading fundamentals.
I agree. I've started using real money to trade recently... it is the only way to learn. And what I have learnt is that I only really lose when I let my discipline slip. I am currently day-trading and some trades go my way, others don't, but the key is knowing when they are not going your way and getting out quickly.
My account is currently down 10%. The majority of my trades are disciplned and either make money or only cost me a little money, however 3 trades where my discipline slipped (and analysing my actions I was almost behaving like a compulsive gambler) are what has caused my account to be down 10% the other trades have clawed back my losses.
In my humble opinion it is people who are able to be self critical and analyse why they are taking certain actions that will succeed in trading, your strategy is almost irrelevent. The other thing that is key is being well capitalised, I know it has been said before, but if I had a much smaller account I may have blown it by now and walked away learning nothing. Having the security that although in pure dollar terms 10% of my account is a fair chunk of money (for me anyway) it is still only 10%... i've had fund managers that had larger equity drawdowns with my money..