Journal of a Fool

You're doing quite a good job of justifying their opinion of us tbh.

If you should like me to spell it out for you, most visitors from citybulls come here and tell us how stupid we are and that, no, they will not enlighten us.

Compared to them, ccclarette is an angel.
 
You're doing quite a good job of justifying their opinion of us tbh.

If you should like me to spell it out for you, most visitors from citybulls come here and tell us how stupid we are and that, no, they will not enlighten us.

Compared to them, ccclarette is an angel.

I am not the slightest bit interested in "their opinions"

All those in the asylum were ousted from here...the place didn't exist before they were evicted...they are all T2W REJECTS.

So now we have things back in the proper perspective, do you have anything further to add?
 
I just want to say this below is some very powerful, concise and well-worded stuff. It might be wrong, but I think it's in good faith. I think the person who wrote this shows knowledge, intelligence and mastery of English. I think it's a masterpiece. It could be right from a textbook. I am marking in red the potentially offensive part, that could have been left out. But other than that, it's a masterpiece. And that part in red may be offensive for its phrasing and wording, but it may be nonetheless true.

This website is not about “traders helping traders”. Instead it is a vehicle to enrich the owner, staff, and advertisers at the expense of the membership. The site makes its money from adverts. The adverts are placed by entities who provide “services” to members. With the exception of bona fide brokers who deal with clients on an execution only basis, all of these “services” involve profiting at the expense of the members. The bucket shop brokers and spread betting bookies make money when members lose on their trades, and by offering worse prices than the real market. The vendors offer a service to people who will pay more than it is worth through ignorance. Paid mentoring is a scam as the mentors do not know, and the correct teaching is so valuable that it would not be sold by those who do know.

If all of this is done honestly I see no problem. The market involves the proficient being enriched at the expense of the derelict. I also have no entitlement to a soapbox here. The site owner is not required to publish my views. I am not making unfounded accusations or suggesting anything improper – simply explaining that there is an entire industry devoted to separating aspiring traders from their money, and that this site makes its revenue from advertising provided by such an industry. As a result the owner has no incentive to improve the quality of the membership here, only to increase the quantity of membership to generate more page impressions. This is business.

Why can't we just say that trade2win is the best forum around, despite the fact that most the things she said are true? It's not so bad. I am a big fan of the forum. But maybe there is a slight conflict of interest. Maybe it is interested in more members and visitors, rather than in better members and in helping us choose the best brokers and trade as well as possible... still it's the best forum. (Even though for automated trading I prefer elitetrader.com). I mean: there are forces in conflict here, we can't deny it. The advertisers do their job. Everyone does his job. Members and staff also help traders, it would be unfair to deny this. But the point is: would forum guides and moderators really feel free to say that IG and FXCM suck, if they felt that way? I am not sure about this. And therefore there might be a conflict of interest. How would these companies like it, if forum guides started posting a list of the best brokers and saying that the sponsors are not the best brokers?

After all the conflict of interest is pretty clear: it says on bottom of this page "visit our preferred brokers" and it lists the sponsors of the forum. So the question arises: are they preferred because they are the best or because the pay us? The problem is when you use this word "preferred". A better and less equivocal term would be "visit our sponsors". So it's clear why they got a spot: not because they're convenient but because they're paying. Otherwise it could be misinterpreted, and then posts like clarette's are good reminders that there might be (she says there is) a conflict of interest. Why don't we start by calling them "sponsors" instead of "preferred brokers"? Or we could say "preferred brokers (because they pay us)".

I mean, how can you say: we have a section to help you trade better (and I know you do, and it does help), and then have a section where you list "preferred brokers" who are actually just "sponsors". The wording is misleading.

I am sure the forum was born to help traders without any sponsors. But then the sponsors came and things got more complicated. I would like to know if the sponsors are masters of the site or not. Can I do search and find a moderator saying "do not use IG and FXCM because they are a ripoff"? Will that happen?

I am quite ignorant on these brokers so my point may be worthless... but even to an ignorant person like me the term "preferred broker" sounds equivocal. Even without knowing anything about these brokers. I mean: there needs to be a clear and precise distinction from ad-vice given to members to improve their trading and ad-vertisement coming from the sponsors.
 
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IG does suck. So does VDM, capital spreads and all the similar white labels and most especially CMC markets.

I think her post is great even if not entirely factually correct. Especially for someone new to trading. To dismiss it as sour grapes is ignorant; her bias is understandable given where she has obviously come from.

That is, unless we prefer the usual inane back patting a thread like this would attract, with the odd tirade from n_t about how everyone is stupid, followed by something in purple and repeated announcements of 'UNSUBSCRIBED'.
 
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Wow, that's awesome. Then if this is the case, I might have been totally wrong, and all that still needs to be changed is "preferred brokers" to "sponsors". I probably, as usual, just made a big deal out of nothing. If that's the case, please ignore my post.
 
From the trading/education viewpoint, the post elaborated on a distinction between informed market participants and uninformed market participants and how most retail traders fall into the uninformed bucket, the premise being that informed traders will always wipe the floor with uninformed ones .

I use the term informed in the Larry Harris sense below - someone who can correctly price an instrument in a market at any time and capitalise on deviations from this price caused by uninformed traders.

http://www-rcf.usc.edu/~lharris/ABSTRACT/Zerosum.htm

Correct. Thank you for linking this article - it is well written and should serve to stimulate some interesting questions.

Setting the expectation that there are few informed traders on this site to learn from was not unreasonable.

Personally I would welcome more posts from Clarette, especially if they are informative in making the transition from uninformed to informed trading.

Consider the responses to my post so far:

- A post from a member of the T2W staff suggesting that my motives need examined and threatening me with the Rule Book

- A post from a T2W Global Moderator gloating about the banning of SOCRATES (who contributed several thoughtful threads and posts informative to making the transition you describe - these posts are still available for you to read and decide for yourself)

- Repeated complaints about my post from a member who admits he can't be bothered to actually read it!

Others, including the original poster, have thanked me for my contribution and derived benefit. However, we have seen what happens in the past when the discussion is raised to a level conducive to benefitting aspiring traders. The majority misbehave and make it insufferable for those who wish to discuss intelligently. To quote SOCRATES:


This is the experience of all who have gone before us, whose recorded wisdom would be foolish to ignore.


and also


The point I am making, and I am making it to the entirer membership, is that
those of you who have been rude, impertinent, disrespectful, confrontational,
aggressive, inept, insulting, and generally "naff" to me whether directly or
indirectly in the past are now going to be taught one by one what a blunder
you have committed by adopting the postures to me that you have.


For this reason I will not do as you ask. I can prod people to think a little where it may benefit them, as in this thread, but will not take it higher. There are still some very good posts by Skimbleshanks, mrmarcus, and SOCRATES available for you to read. I do not speak on their behalf, however any experienced trader can see from their posts that they are experts in this profession. Two were prevented from posting here by the administration, and it appears the third removed all of his contributions here. The reasons why are obvious.
 
As I said, I've been trading for 12 years and I am not profitable yet... so maybe that is why I don't find it that offensive

You've pinned it. Well done! Balanced, respectful, honest people who have not yet become profitable are not offended. They know they are not profitable and they do not see this as an affront. Being humble and honest about your results so far, and in public, speaks volumes about your character.

Those who are not profitable but who have ego issues take all of this very personally indeed. The existence of profitable traders bothers them. They are apt to take things personally, overreact, and commit other blunders due to their ego and insecurities. They will claim it is impossible to be consistently correct and other nonsenses.

Naturally the profitable traders are not offended.

By watching the reactions very closely you can spot who is who, so to speak....
 
ccclarette658's comments about trading and the markets are relevant, interesting and worth noting.

Thank you for your endorsement. I am pleased you approve.

However, when it comes to 'agendas' and who has them, one has to question the motives of a member with a mere 22 posts who devotes a significant chunk of Christmas day to trashing the site! I have reported the post to the moderators for making wild and false allegations about the the site, its members and staff. The comments are so wide of the mark and fanciful that one has to assume it's some sort of joke, albeit in poor taste and distinctly lacking in Christmas spirit.

I trust by Christmas spirit you mean considerations beyond following the teachings of Christ? So sharing the benefit of my specialised knowledge and experience with an aspirant who may benefit intellectually, emotionally, and financially as a result of considering my comments isn't in the Christmas spirit?

So wide of the mark and fanciful? From the same poster who wrote comments which were relevant, interesting, and worth noting? Say it ain't so Joe....

Additionally, I am here to help in any way I can. Good luck with your journal and your trading in 2010!
Tim.

You have just demonstrated the extent to which you are capable of helping an aspiring trader. As luck appears to be a determinant of trading success within your frame of reference, I also wish you good luck in any trades you may elect to place in 2010.

I am very bizzi and having a whale of a time abroad at the moment. I return home at the beginning of 2010 to continue with The Games. I may visit from time to time.

I hope and expect my comments have been helpful and I am gratified by the exercise.

I shall leave the others to cogitate on why the only traders who could help you choose to leave you to your fate.



After an inferior man has been taught a doctrine of superiority he will
remain as inferior as he was before his lesson. He will merely assume
himself to be superior, and attempt to employ his recently-learned
tactics against his own kind, whom he will then consider his inferiors.
With each inferior man enjoying what he considers his unique role, the
entire bunch will be reduced to a pack of strutting, foppish,
self-centered monkeys gamboling about on an island of ignorance. There
they will play their games under the supervision of their keeper, who
was and will always be a superior man.​
 
Thank you for your endorsement. I am pleased you approve.



I trust by Christmas spirit you mean considerations beyond following the teachings of Christ? So sharing the benefit of my specialised knowledge and experience with an aspirant who may benefit intellectually, emotionally, and financially as a result of considering my comments isn't in the Christmas spirit?

So wide of the mark and fanciful? From the same poster who wrote comments which were relevant, interesting, and worth noting? Say it ain't so Joe....



You have just demonstrated the extent to which you are capable of helping an aspiring trader. As luck appears to be a determinant of trading success within your frame of reference, I also wish you good luck in any trades you may elect to place in 2010.

I am very bizzi and having a whale of a time abroad at the moment. I return home at the beginning of 2010 to continue with The Games. I may visit from time to time.

I hope and expect my comments have been helpful and I am gratified by the exercise.

I shall leave the others to cogitate on why the only traders who could help you choose to leave you to your fate.



After an inferior man has been taught a doctrine of superiority he will
remain as inferior as he was before his lesson. He will merely assume
himself to be superior, and attempt to employ his recently-learned
tactics against his own kind, whom he will then consider his inferiors.
With each inferior man enjoying what he considers his unique role, the
entire bunch will be reduced to a pack of strutting, foppish,
self-centered monkeys gamboling about on an island of ignorance. There
they will play their games under the supervision of their keeper, who
was and will always be a superior man.​

I hadn't read your post, but I have now, I had to, otherwise I would not be able to follow the thread properly.

It is all, more or less, correct, but the theme could be said to be the same for the whole of life, couldn't it?

I'm not in trading 100%, as most readers of my posts would know, if they read my posts (they aren't, usually very long).

I can assure everyone that no one, including you, does anything for nothing. Particularly, as fas as The Games is concerned. There is a reason for everything that one does and we must make sure that we get the maximum benefit from whatever that we choose to interest ourselves in without worrying about how much the other side is making.

Anyone who believes that trading is different, in that respect, from anything, or anyone else, is naive, in the extreme, and will not succeed in much else, let alone trading.

Whatever is posted on this, or any other site, about how successful, or not, others are is unproved. The real reason that you have posted is an unknown factor for us. It may be something innocuous such as exasperation of one's own successes and a need to blame something else. Whatever it is, it does not matter except that we should all realise that there was an unknown reason for what you wrote..

As far as we are concerned, you should not believe that we are all running around like headless chickens.

We all let our guards slip once in a while but I would advise everyone to remember, when dealing with anything.

They want your money.

Split
 
I am very bizzi and having a whale of a time abroad at the moment. I return home at the beginning of 2010 to continue with The Games. I may visit from time to time.

I think socco had his fun and moved on. He must be most pleased with the result. Especially with the fallout between the T2W ''staff '' .
 
I think socco had his fun and moved on. He must be most pleased with the result. Especially with the fallout between the T2W ''staff '' .

I'm not sure whether you are referring to same one that am thinking of. The purple quotes and the term "bizzi " ring bells.

I'd heard that he'd got shipwrecked, though.
 
I hadn't read your post...

...The real reason that you have posted is an unknown factor for us....
Thanks for honestly admitting that you hadn't read all of her post. The reason for her anger is probably that on forums even a polite person like you was commenting on her post without first having read all of it. But often what happens is worse: you put a lot of effort into your post and you get superficial replies, with sarcasm and a smiley, and depending on the forum and on the moderator you could even get banned (not here). For example, I disapprove of the two posts above mine, which seem to be laughing at her/him. It doesn't matter who he/she is: his/her posts deserve respect (because they're respectful).

However, as I said before, here there's more politeness than on other forums, maybe because it's British. Also, you get bothered less if you're writing a journal, so maybe clarette could write a journal. If you want to write useful things for traders there's plenty of room on a forum. But maybe she doesn't want to reveal her secrets to a potentially disrespectful audience, and I can understand that. But what she does say is better than average so I recommend it each time.

By average I mean this:
Cool, dude! :clap:

I also noticed and wondered why some of the longest journals and threads were written by people who are now banned. So she might have a point about that as well, or maybe this happens because the more you write the more confident you get, and then if you get cocky you might even push your limits. Or maybe you get tired of having to write a thread or a journal, and write something that will get you banned, so you will be excused from having to write it. I can see that the more I write the more daring I get, so it might be the case with others as well.
 
Thanks for honestly admitting that you hadn't read all of her post. The reason for her anger is probably that on forums even a polite person like you was commenting on her post without first having read all of it. But often what happens is worse: you put a lot of effort into your post and you get superficial replies, with sarcasm and a smiley, and depending on the forum and on the moderator you could even get banned (not here). For example, I disapprove of the two posts above mine, which seem to be laughing at her/him. It doesn't matter who he/she is: his/her posts deserve respect (because they're respectful).

However, as I said before, here there's more politeness than on other forums, maybe because it's British. Also, you get bothered less if you're writing a journal, so maybe clarette could write a journal. If you want to write useful things for traders there's plenty of room on a forum. But maybe she doesn't want to reveal her secrets to a potentially disrespectful audience, and I can understand that. But what she does say is better than average so I recommend it each time.

By average I mean this:


I also noticed and wondered why some of the longest journals and threads were written by people who are now banned. So she might have a point about that as well, or maybe this happens because the more you write the more confident you get, and then if you get cocky you might even push your limits. Or maybe you get tired of having to write a thread or a journal, and write something that will get you banned, so you will be excused from having to write it. I can see that the more I write the more daring I get, so it might be the case with others as well.

No, Travis, I disagree with you on a couple of points. Clarette could, and should, have started a journal but she didn't. She poured cold water over the guy who had started a journal, or tried to. I notice that he has not returned to the thread and I don't blame him.

I have noticed that newcomers do have their first posts ridiculed by others who are very patronising in their answers. They, really, do think that they know it all but it is so easy to give advice on these forums without taking any responsibility for the results. I, honestly, try not to do that.

Everyone, here, is deemed by me to be capable of looking after himself, though, and he should know that this is a jungle. There is no other term to describe it. If they are gambling then it is their own business.

The posts that you found offensive alluded to a poster who, years ago, quoted in the same purple lettering and frequently used the word (?) "bizzy" Perhaps this is a coincidence but, if it isn't, then we are all wasting our time. Respecting each others views is a joint venture.
 
Re: Gift for a Fool

I am aware that I am fighting a pointless rearguard action however I have chosen to give up some time on Christmas day in the spirit of charity. It will not take much time to say this, and it may help the thread starter and others.

I have just seen this. I will tell you the truth. I may be the only one who will. I cannot do more.

If you wish to engage in gambling then you should expect to lose money. You are quite welcome to gamble for leisure on the ponies, at the bookies, on the National Lottery, or in the financial markets to the extent you are able to meet your obligations. If this is your objective then please be honest with yourself about it.

However, I can see that you actually do wish to profit from these activities. You have no legitimate expectation of profit. You state that you are new to this, and your other posts ask basic questions about which broker to use etc. You are a beginner. This is not an offensive comment, but a statement of fact. As a beginner you do not have the knowledge, skills, and experience to profit in what is ultimately a ruthlessly competitive business. None of us were born knowing, and we all had to begin at the beginning. There is nothing wrong with this. What is wrong is approaching the market with a flippant and disrespectful attitude, expecting to profit at the rate of 10% per week without any serious commitment, impatience, greed, etc. This is not the way a professional would conduct herself, and it alienates you from the very people who could help you.

I suggest that some humility is in order. I also suggest that frivolously gambling in the markets in the way you propose shows a lack of gratitude for your wealth. It is not my place to pass judgement on this, just some food for thought. It does not bode well that you look to others for answers to the basic questions rather than taking responsibility yourself. Equally you show signs of recklessness and impatience. Do not ignore the wisdom of those who have gone before you. This post is a caution to all beginners.

You are immediately at a disadvantage as you do not have the correct knowledge of how the market works. You have not developed the skill of accurately forecasting future prices in very fast, very liquid markets. You do not know when to enter and exit trades, how much risk to take, where to exit when you are wrong, etc. Additionally, you will be subject to emotional issues when risking your capital, even in small amounts. Without the correct foundation you will not have the ability to handle your emotions and behave correctly. In short you will not succeed if you choose this route. If you wish to succeed, the market demands more. Much more.

I will tell you a little more about this website, and other similar boards. Here there are around 150,000 members. Of this amount, around five are truly expert traders. Three have been banned. One removed his posts when it was demonstrated that the membership were an unworthy rabble. An additional dozen or so have a high level of understanding of the markets. These members do not contribute for reasons which will become obvious when the content of this post is fully understood.

Of the remainder, almost none have any true understanding of the markets. Almost none are consistently profitable. There are perhaps a few dozen members at most who actually make their living from trading. It is possible to make a consistent profit in a specialised niche without a complete understanding of the markets as a whole. It is possible to make consistent profit with a purely “mechanical” system in some conditions, but this is not the same as true market knowledge. People are generally gullible with low levels of awareness and unable to distinguish the truly successful from the imposters. There are many reasons for this, however that does not belong here and is obvious to one who puts her attention on the subject.

New members – aspiring traders – are not told any of this. Other members have been appointed as “forum guides” or “trading advisors” or “moderators”. None of these people are consistently successful, proficient, self employed full time traders. However, these titles have a suggestion of authority – and those who do not know better will believe that these forum titles qualify the holder to give advice. These titles are not awarded according to some measured, objective, criteria signifying competence in trading. Due to these factors it is almost impossible for the naive aspirant to distinguish between those with something of value to contribute and other beginners.

I will give you an example. At one time this board had a charity spreadbetting account. After much ado, the collective membership lost half the account and the project was quietly shelved. None of the contributors were proficient enough to make correct profitable trades for charity. The few who could chose not to due to the way they had been treated in the past, or because they were banned, or both.

Beginners who recognise they are beginners are perfectly okay. Beginners who believe that they are advanced and in a position to dispense advice to other beginners are nothing short of dangerous. If you continue with this thread you will be inundated with fruitless suggestions to use indicators, change “timeframe”, vary your bet size, trade (or not trade) at different times of the day, subscribe to services, attend seminars, pay for mentoring, choose different (supposedly “easier”) markets, and other nonsenses.

Nearly everyone here has an agenda, an opinion, and an ego. There are the good natured people who genuinely wish to help (but may cause harm through well intentioned but incorrect advice), there are salesmen, there are arrogant small minded people with ego issues, there are those who intentionally disrupt, and there are the owners and staff who have an interest in all this continuing as is.

This website is not about “traders helping traders”. Instead it is a vehicle to enrich the owner, staff, and advertisers at the expense of the membership. The site makes its money from adverts. The adverts are placed by entities who provide “services” to members. With the exception of bona fide brokers who deal with clients on an execution only basis, all of these “services” involve profiting at the expense of the members. The bucket shop brokers and spread betting bookies make money when members lose on their trades, and by offering worse prices than the real market. The vendors offer a service to people who will pay more than it is worth through ignorance. Paid mentoring is a scam as the mentors do not know, and the correct teaching is so valuable that it would not be sold by those who do know.

If all of this is done honestly I see no problem. The market involves the proficient being enriched at the expense of the derelict. I also have no entitlement to a soapbox here. The site owner is not required to publish my views. I am not making unfounded accusations or suggesting anything improper – simply explaining that there is an entire industry devoted to separating aspiring traders from their money, and that this site makes its revenue from advertising provided by such an industry. As a result the owner has no incentive to improve the quality of the membership here, only to increase the quantity of membership to generate more page impressions. This is business.

What is generally missing from the daily discourse here is a genuine desire to learn and improve, humility, respect, and manners. Instead we have greed, impatience, arrogance, rudeness and disrespect.

In the past, expert traders who wished to help others attempted to share the results of their years of experience, diligent work, and creative insights with the membership in order to help those who truly aspired. The collective conduct of the membership was disgustingly uncivil, and the website owner and his staff did not deal with this. As a result nothing of value is shared here. The members who behaved badly got exactly what they deserved.

There is no merit in herd behaviour. There is no virtue in seeking comfort in shared ignorance with others. If you are able to critically examine what this website is and is not, and assess for yourself the merits of engaging in discourse with the membership here, you will have learned something valuable indeed which will assist you in your journey to become a trader. These are the people who lose. To be successful you must learn why they lose and how to take their money. The market always needs cannon fodder. Understand yourself, and understand the sheep.

In trading, almost all of the time, the outcomes are decided in advance. Therefore the outcome of almost any trade can be known in advance almost all the time. The truly expert traders can predict where price will go next, repeatedly. Without this ability you are guessing and gambling. This ability takes years to develop. It cannot be learned by everyone.

Those who have earned this ability get it right nearly all the time. Days without losing trades. Months without down days. Specialisation in a chosen instrument and the ability to deal size when conditions are correct. These experts can recognise other experts, the proficient, and the amateurs by their conduct. I have never spoken with any of the five traders I mentioned earlier, but I know they are all true experts by what and how they post. Newbies cannot be expected to have this level of awareness, and are apt to be misdirected.

In summary:
- You do not know how to day trade successfully
- If you risk capital when you do not know you are gambling and will lose
- Your losses will go to the disciplined, ruthless, skilled, professional traders
- While the correct knowledge is a prerequisite, trading is a skill and the ability must be earned through personal effort – it cannot be transferred
- The correct knowledge can be discovered – this requires isolation and independent thought
- Those who know how to trade will not take you in hand and show you everything
- The masses who do not know how to trade will offer incorrect advice
- I will be attacked for this post by those who cannot trade

I only said it would be the truth, not that it would be pleasant. Please take the time to evaluate this and be honest with yourself. It may save you a very unpleasant journey, emotionally and financially. Do not seek excitement that you cannot ultimately afford. The good news is that the market is available to all who aspire – this provides the profits for the successful and the opportunity to succeed to all.

I sincerely hope that you all have beneficial realisations after reading this. Don’t be a fool. Don’t be a sucker. Merry Christmas.

Have to agree with a lot of what cc says it isn't easy. But this next bit is wrong.

"I will give you an example. At one time this board had a charity spreadbetting account. After much ado, the collective membership lost half the account and the project was quietly shelved. None of the contributors were proficient enough to make correct profitable trades for charity. The few who could chose not to due to the way they had been treated in the past, or because they were banned, or both."

It was not the collective membership. Just a handful of traders willing to put it out there, when few people had the balls to do it. Conditions were far from favourable.
The conditions imposed on the trading charity account made simple trades, hard to work. Trade had to be posted in advance, then only one trade was picked. I think Rosso was responsible for picking which trade was put on. Targets and loss limits had to be part of this and the trade to go on could not be entered before 9am. But it could take anything up to 45 mins to get a trade on. Trades could be taken off at any time; but only via pm to Rosso. If he wasn't there, it would get actioned when he got around to it.

So very extreme conditions. Laid down by the sb company themselves we were told.


I have been doing this for a few years now and am consistently profitable. I would post the amount of losing trades I have on here but very few people would believe it was possible. For quite a few years the only source of income was through trading.
Given fairer conditions in which to trade, the charity trading would have a different outcome.
On my last few visits here, I was going to handle a persons account, I wanted part of the profit to go to charity, but the person came up with a different split which didn't include any % to charity, so I dropped the idea.
All that aside, in true t2w fashion a persons journal/thread has been hijacked after his first post on here while others argue over cc'c post.
 
hi split, hi options, seasons greets :D

just a quick point about the "hijacking" issue of a journal.

this is ok for now as i have already been in contact with john_almighty, when he is ready to start his journal proper we'll work with him to move all this out to a side thread, or move the whole thing leaving john to start afresh, whatever he is happy with really, i think that about covers that.
 
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