How did trading change your life? - Page 2
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Thread: How did trading change your life?

  1. #11
    Quote Originally Posted by ;
    hm, let's discuss diversifiion (not correlation ). Yes, everything could fail at the same time, but I am just talking in terms of probabilities....
    Yes, we have different beliefs, that is likely why market is indeed intriguing...
    I enjoy my egy since I know that any second any commerce may bring me a 10percent in a blink of a eye, while to lose the same amount it takes 100 trades.
    I like what you say since you prefer to be analytical and you found your niche in the markets.

    Folks at the end what can I say? It could be that me and will be millionaire next 10 decades, or we can both go bankrupt... in the end I believe this: find a street, the one you believe simplest, take some cash, start trading, should you make money believe what you want (luck, fantastic analysis, weather, planets, ecc...), only be sensible, never take your profits for granted, the afternoon you will stop trading, that is when you can say I have been a prosperous trader...

  2. #12
    Quote Originally Posted by ;
    u rock Guy thaT WAS funny as
    Because mate

  3. #13
    Quote Originally Posted by ;
    It did. You're only looking at the wrong timeframe. If you go to H1 or lower, you will see that it always comes at least once. If not, another rally/sell-off will bounce backagain. It do. And remember: with cost averaging, you don't have one entry point. I got around ten open positions, it could be more if I had a larger account balance. Sooner or later, it bounces back and the newest (largest ) position cover all the losses.




    Just tested it on H4 with info from 2007 till today and it works (both for longs and shorts). It could...
    I've tried something similar to your approach with real money. It seem to function to a certain exent but there were times when I had been overexposed and an adverse move could be very very painful.

    So far as the ribbon is concerned, while averaging and waiting PA to move to BE you are facing all the time negative floating P/L, every day. This can be quite detrimental to your mental state if the method takes a couple of weeks or even months. Don't you believe? When you get to the point when you are overexposed then it get's real cluttered.

    @harvest3r
    I've experimented with this approach and if you are interested we could share some thoughts. I don't think that it's appropriate to discuss all the parameters of this approach here in the thread, because it's off topic. Maybe via PM's will be better, so PM mepersonally, I believe we can have a constructive conversation.

    Regards

  4. #14
    Quote Originally Posted by ;
    For me you can still make money with a very simple egy, relying only on fortune, and your own mind. But you can't make money (even if statistically, your likelihood are better) if you only rely on an edge (remember most MM loose cash ), you have to confront bad times, with bad times I do not mean to confront DrawDowns, I mean when your edge will not work anymore, in other words, even when a WW starts!!
    Following this reasoning, though right, you must say that we consistently lose. It is like someone said: at the long term, we're all dead. Being alive is fortune. With a job and keeping it's fortune. Being a retailer and getting profits is pure luck - how can you know that people will continue buying bananas or eggs indefinitely?

    I feel that the right approach to observe things is: we're always betting, only the risk level may change. When you marry, you are betting (he/she may say I love you now and betray you tomorrow, you can never know it in advance). When you examine and become a doctor, you are gaming (your parents spent hundred$ of thousand$, you spent 15 years studying... and then you do not get the dream job, or perhaps you die in a car crash just before the last exam).

    As said, diversifiion is a means to escape the bad luck. Enjoy life for the long run instead of planning. Invest in Forex but also in gold and property. Whenever possible, take a few profits, understand them and keep them with you.

    I'm seriously considering such astrophic situations. I would like to keep some property in Europe as well as in South America. Whenever I get enough cash (not too much, though), I would like to start an account in Switzerland and keep around $1000 of five distinct currencies (likely USD, EUR, JPY, GBP and CHF) 5 ounce of gold within a locker. It might sound dumb, but somehow it really does, but I think it's better/safer than signing a few life insurance contract. If a war starts, I could escape to Switzerland, draw my cash immediately and then move to the other continent.

    If something goes wrong with Switzerland, nicely, EVERYBODY will endure, and if everybody endure, nobody has got the edge anyway.

  5. #15
    Quote Originally Posted by ;
    (...) you are facing all the time unwanted floating P/L, every day. (...)
    you're absolutery right. That's just what I face everyday. But that's not a issue, as long as my vulnerability doesn't get too large. Like I said before, it is dependent upon your parameters, i.e. that you MONEY MANAGEMENT...


    Quote Originally Posted by ;
    I don't think that it's appropriate to talk about all the parameters of this approach here in the thread, because it is off topic.
    You're right again. Let's exchange some PMs.

  6. #16
    Quote Originally Posted by ;
    After this reasoning, though right, you need to say that we always lose. It is like someone said: at the long term, we are all dead. Being alive is luck. With a job and maintaining it is luck. Being a merchant and having profits is pure luck - how do you know that people will continue buying eggs or peanuts indefinitely?

    That I feel that the right way to observe things is: we are always betting, just the risk level may vary. When you marry, you're betting (he/she may say I love you today and overtake you tomorrow, you can't ever understand it beforehand ). When...
    I generally agree about what you said, usually I do not compare real life with market, I think in real life that you still have many choices, things generally doesn't change that fast. If you're a merchant and you market something, you will typically have the ability to find an issue coming until you get broke and also you are able to find a logic and rational solution for this. Market doesn't offer a rational solution at the issue, so actually you keep trusting your advantage or your own gut... however, these are just minutiae, I concur that luck is quite very involved in our life...

  7. #17
    Quote Originally Posted by ;
    I have attempted something similar to your strategy with real money. It seem to function to a certain exent but there were instances when I was overexposed and a negative move would be very very debilitating.

    As far as the thread is concerned, while averaging and awaiting PA to move to BE you're facing all of the time unwanted floating P/L, daily. This may be very detrimental to your mental condition if the process takes a few weeks or even months. Do not you believe? And when you get to the point when you're overexposed then it get's real cluttered.

    @harvest3r
    I have experimented...
    in case you guys like you may talk about it in the thread, no issue, if you like keeping it confidential, I understand!

  8. #18
    Quote Originally Posted by ;
    After this rationale, though correct, you should say that we constantly lose. It's like somebody said: in the long run, we are all dead. Being alive is fortune. Keeping it and With a job is fortune. Being a merchant and having profits is pure luck - just how do you know people will keep buying eggs or peanuts forever?

    That I think the correct approach to observe things is: we are always betting, just the risk level may change. If you marry, you're betting (he/she may say I love you now and betray you tomorrow, you can never know it beforehand ). If...
    its enjoy buddies,if u just have 3-4 buddies in 1 group that u hang out,and stop being friends together ,then ur left ,
    but if u have many friends in different classes,then if one group that u mostly
    hang out stops hanging out with u,u can always fall back on another teams

    im speaking from experience

  9. #19
    Quote Originally Posted by ;
    Following this reasoning, though right, you should say that we always lose. It's like somebody said: at the long run, we are all dead. Being alive is luck. Having a job and maintaining it is luck. Being a merchant and getting profits is pure chance - how do you know that people will continue buying bananas or eggs forever?

    I feel that the right approach to see things is: we are always betting, only the risk level can vary. If you marry, you are betting (he/she can say I love you today and overtake you tomorrow, you can never know it beforehand ). When...
    I only partially agree with your statement. I concur with the gaming stuff about life. Yes, everybody can die within another in case an asteroid crashes on earth and your wife can cheat on you personally and so on.

    What I do not agree with is the taking profits fast statement. I love to distinguish between investing and trading. In trading taking profits makes sense, however in investing, you want compound your returns. You wanna find a fantastic company that you think (following a thorough analysis) will do great in the subsequent 50 years, and maintain your money there. Same goes with real estate, you want to buy real-estate permit it to turn into a passive income stream.
    Taking profits in investing doesn't make sense.

    And well, if a war among the wealthy nations really ever begun, then we will anyways all perish due to a nuclear holocaust and probably only a few will survive. Then all of the houses and gold that you purchased are useless, since more immediate matters are of concern like survival of the human race. (Just my science-fiction thoughts )

    cheers

  10. #20
    Quote Originally Posted by ;
    What I don't agree with is the taking profits quickly announcement. I like to distinguish between investing and trading. In trading taking profits makes sense, but in investing, you wanna compound your returns. You wanna come across a fantastic company which you believe (following a thorough analysis) will do great in the next 50 decades, and maintain your money there. Same goes with real estate, you want to buy real-estate permit it to become a passive revenue stream.
    Taking profits in investing doesn't make sense.
    Once I was talking about quick profit taking, I meant in Forex. You are absolutely right with all the trading/investing issue.

    What I mean is: trade in order to make investments. You can't invest if you don't have enough money. So how can you earn money? Trading (or using a normal job, if you want ). Some people may see Forex as an investment but that's another matter.

    Maintaining money in a Swiss bank locker is an investment. This investment might not even return anything, but it doesn't necessarily matter (safety is my profit). Same with real estate: you can by a house in an increasingly valuable area, and then after 20 years this area is going to be forgotten and drop value. You missed the change of taking profits and might even have a net reduction, but if you are delighted with the house, it doesn't matter. Not every profit is substance.

    Incidentally, after I read something similar to this: the aim of investment is not multiply treasures, but maintain it.

    Quote Originally Posted by ;
    And if a war among the rich countries really ever started, then we'll anyways all perish due to a nuclear holocaust and likely just a few would survive. Then all the houses and gold you bought are useless, because more immediate items are of concern just like success of your race. (Just my science-fiction thoughts )
    Actually it is not a joke. What you wrote isn't science fiction or the Apocalypse. Those who really need to invest in an intelligent way must think about such situations. It can never happen, but if it does... you might have a way out. Several years ago, everyone would laugh if a guy would talk about a huge wave killing 200,000 people. And today?

    Occasionally a quick departure could possibly be a bless; those ones who survive have a hard time! We don't even have to think about atomic bombs. Think about the Jews. Ok, money ownership was one of the reasons for their persecution, but exactly the same time was the salvation for some of them.

    That is why the diversifiion must be taken to the limit. Go buy some land in southern Chile, of course with some drink water around.

    I see a very big threat to humankind in another 10-20 years: waves of hunger. Folks are flocking into the large towns and take for granted that food and clean water will be offered to them (because the money is there and money buys everything we desire ). That is extremely dangerous. The current culture take for granted the huge logistics supporting creation. If a large thing happens and all the logistic chain is disrupted for some few days, we might observe millions of people dying just like this. I am not talking about some Hollywood situation, some Ebola virus or even mega-tsunami. Maybe something relatively easy (some online interruption) might have a catastrophic impact.

    Perhaps that's a topic for a different thread...

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