Gambler or Speculator? - Page 2
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Thread: Gambler or Speculator?

  1. #11
    Quote Originally Posted by ;
    Yes I feel as though im maturing in general.... And I certainly hope that I have some potential, lol.

    Applied understanding is the only way forward, so I guess my strategy is to continue learning and maintain brain-storming on how to apply the things I learn to my trading. Writing down my idea and then trying to dissprove them as legitimate trading egies is exactly what I will do next.

    Should you dont mind me asking, How can you stumble in to trading? And have you always been a personal trader?

    Good day,

    Leon
    I've always had an interest in financial markets. Even as a young boy I remember having discussions with my dad about how stocks functioned. I had been quite young at the time but only the mere concept of profiting from price fluctuation was strangely intriguing. I wasn't only interested in making money though, because at that age what is money anyhow. I simply found the topic alone extremely confusing, and therefore fascinating. This was significant.

    However, it wasn't until I had been in school with a spouse a children I found myself looking into alternative ways to encourage my family. I was browsing another forum one day when someone was speaking about day trading stocks. I did a fast search of the term”day trader”, fell in love with the concept, and began my life long pursuit of financial success.

    The very first time I opened a chart I saw that which everyone sees with virgin eyes: randomness. But the more I exchanged along with the deeper I heard the more sense was created of the markets. My passion for studying drove me to great lengths to find real answers to the mysteries of the market. But don't get me wrong, I had my period of inexpensive indior-ridden trading such as the rest of us online fish caught by the hook of badvertising. This phase was naturally temporary for me personally. Such fictitious systems expectedly offer only cheap answers which are evident to anybody with a mind. Success came shortly after this realization. I needed real answers, and I had been great at asking the right questions.

    I have not worked for a bank or some other financial institution either. This ought to offer hope to some because all of my questions have been answered by my research. There are very few”secrets” to trading. You may have to dig a bit, but all the info required to become successful is at your fingertips, you only have to have the brains and balls to piece together the mystery.

  2. #12
    Quote Originally Posted by ;
    Most things in life is a gamble.

    You open a garage to repair automobiles - you put in your cash.
    You could lose almost everything!!!

    You put in cash to date a woman - no gaurantee you'll get her to become your spouse!!

    In everything, have a fantastic stop loss - manage it well.

    If the relationship isn't successful, cease persuing it.
    If the garage don't bring in customers, sell it until the bankruptcy authorities arrive.
    I concur - What is a gamble. You need to understand how to increase your likelihood of success. Before going to a date, As an example, you brush your teeth. You've improved your likelihood of obtaining a kiss. Flip it to trading - you use some kind of indiors (I hope) when deciding to go long/short. Again, your odds raised. Still a gamble...

    J

  3. #13
    I urge any trader here who's serious about trading to see this novel. It wont help you trade specifically but will aid you with the market microstructure of all markets, market participants and they types of traders on the market.

    I believe this knowledge is essential for a trader and would decrease the many questions on this board about people stating asking why some spreads and quotes are different across brokers.

    Additionally it will clear alot around ECN (electronic communiion market) as I dont think this is a true interbank market as some people today call it .
    The sole interbank market here is through reuters 3000 additional.

    But I think that it would be safe to assume that some traders on here are bettors without recognising it and will keep trading even though they are not earning money, maybe the delight of trading attracts them? But it needs to be unstood that markets are are a zero sum game, (negative sum game if you regard broker spreads) and gamblers, neophytes are wanted for this market to endure.

  4. #14
    Quote Originally Posted by ;
    Additionally it'll clear alot around ECN (digital communiion market) as I dont think this is a true interbank market as some folks call it here.
    The only interbank market this is via reuters 3000 extra.
    Reuters (and EBS) simply consolidates bid/ask prices in the participating banks on the interbank market. Reuters is not in itself a market, just a service for your market. The banks are still trading with one another on a daily basis, and so the term interbank is applied to this level of exchange. A bank can trade with another bank with no Reuters service also and its considered interbank.

  5. #15
    Quote Originally Posted by ;
    However, it has to be unstood that markets really are really a zero sum game, (negative sum game should you consider broker spreads) and gamblers, neophytes are wanted for this market to endure.
    This reminds me of something else I have been interested in and wanted to talk.

    Due to the intention of this market, there's possibility that the psycology of market moves is much less significant, because industry are just making trades to lock in prices... they will probably not care what's happening on an Intraday chart. This would presumably create technical trading quite hard.

    On the flip side, the uninformed descisions(and transactions ) being forced to lock in prices should be offering a great deal of liquidity to all those traders with a border.

    Any ideas?

  6. #16
    Quote Originally Posted by ;
    Most things in life is a gamble.

    You open a garage to repair cars - you put in your cash.
    You could lose nearly everything!!!

    Which you put in cash to date a woman - no gaurantee you will get her to be your wife!!

    In everything, have a good stop loss - handle it well.

    When the relationship is not successful, cease persuing it.
    When the garage don't bring in clients, sell it before the bankruptcy government arrive.
    Agreed 110%

    If we are comparing this to the casino or track (i.e. real gambling), forex/trading wins hands down.

    50:50 opportunity to profit from forex/stocks from an easy coin toss. Add your advantage, method, system (whatever you want to call it) and the odds increase in your favour.

    Show me a casino or track that provides this type of chance...

  7. #17
    Quote Originally Posted by ;
    There are very few”secrets” into trading. You might need to dig a little, but all the information required to be successful is at your fingertips, you only have to have the brains and balls to piece together the puzzle.
    Thank you for shairing your trading History.

    I dont think anybody can make a livelihood out of this unless they had a terrific deal of curiosity about it, rather than simply the money that can be made.

  8. #18
    Quote Originally Posted by ;
    on account of the purpose of this market, there's chance that the psycology of market moves is much less significant, since industry are only making trades to lock in prices... they are unlikely to care what is happening within an Intraday chart. This could presumably create technical trading quite tough.
    This point/thought troubles me quite a bit, the'Psycology' aspect is that I can think to build trading concepts from. Any order antisipation egy requires the beleif that others are trading technically, doesnt it?

    The process I had been using in my journal was based simply buying/selling in a disscounted price behind many levels of SorR, Not quite technical in my eyes. Entries could have been produced randomly possibly as long as I had been trading at the trend direction.

  9. #19
    Quote Originally Posted by ;
    ....Forex is made primarily for businesses, banks, and governments to exchange currencies in very large quantities, it doesn't behave itself in a consistent issue. At any time or place someone, bank, govt., business can exchange a huge quantity of currency and it will not have anything to do with Fundamentals or Indiors or any combination of both. Every system ever developed could be disrupted with these exchanges and thereby ruining any egy....
    Quote Originally Posted by ;
    ...I reasoned that you are able to research to your hearts content everything about Forex trading it is possible to locate but when GM cashes a billion dollar check because it sold county X trucks no system could cover these events.
    We just need to live with this reality...

    Trade your charts/fundies/quant/anything and utilize sound MM. Accept the fact that you will never have the ability to derive a 100% ideal method, system or edge.

    Gambler or Speculator? Take your choice, whatever makes you sleep better at night.

    It's not the type of gaming you do at the casino or track, the chances here could be pushed much further into your favour.

  10. #20
    Quote Originally Posted by ;
    We just have to live with this reality...

    Trade your charts/fundies/quant/anything and utilize sound MM. Accept the fact that you will never be able to derive a 100% ideal strategy, system or edge.

    Gambler or Speculator? Take your choice, whatever makes you sleep better at night.

    It's not the sort of gambling you do in the casino or track, the chances here can be pushed much further into your favor.
    It appears ive confused folks by going off on a tangent. Im not debating anything, simply rambling about different things regarding trading.

    I originaly posted the extract from TE to make folks believe a bit, and as a talking point.

    The posts which you quoted are operating on the assumption that FOREX is a speculative market untill a large order comes In from a company and disrupts the speculators. However, couldnt it also be possible that 90 percent of what we see is exactly that, company transactions that needed to be made regardless of what was occurring on your intraday chart?

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