2009.05.16 WHY 95% OF TRADERS FAIL - PART II

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oldmangeezer
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Excelent Post

Postby oldmangeezer » Mon May 18, 2009 1:26 am

vTRO,

That was an excellent post.

Forex is so dynamic from second to second, minute to minute, hour to hour.

In my opinion 95% fail is because we have no goals each day. You have the 2% club. It would be interesting to find out how many members actually have a 2% goal for each day based on their account balance? How many know what they should risk $$ before they should enter a trade based on their account size? How many stay with a successful trading system or abandon it after 1 or 2 losses in a row and look for another system. So, if you have $1000 account and risk 2% per trade do you use a stop loss of $20 or 20 pips (mini account)? I would say that the majority of Forex traders have the "online" gamblers mentality. Looking for action each and every minute. Looking for the BIG win. Does a trader know why they entered a trade? Just like gambling we look for the holy grail and the internet marketers who know nothing about Forex prey upon us. Touting the next holy grail. Proprietary indicators, robots, etc. etc.

Thanks for insights on Forex. Looking forward to the next part.

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TheRumpledOne
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Postby TheRumpledOne » Mon May 18, 2009 2:14 am

It's not about goals, written plans, systems, indicators, charts, etc...

95% OF THE TRADERS ARE NOT LOOKING AT WHAT THEY SHOULD BE LOOKING AT.

HINT: When you have one eye closed you lose your depth perception.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!

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MightyOne
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Postby MightyOne » Mon May 18, 2009 2:28 am

Why does price move? I really don't care so long as it moves!

I know that on any major pair price will move a hundred to hundreds of pips higher or lower than the price extremes within 24 hours from the time they were touched.

Why are you a failure?

Maybe you are not aware that trading is a war for position in the bigger picture.

Just as houses in different areas on the map vary in value, lots also very in value at different areas on the chart.

Some really small houses are worth millions while some larger houses are worth just over a hundred thousand; yet most exchange traders buy and sell each house as if they were all of the same model and location.

Without the ability to recognize value how can a trader be a long term success?

So what are the big boys doing?

1. Flooding the market with misinformation
2. Accumulating a position over a depressingly long duration
3. Leading you to believe that the advance is over so that you wait to buy higher.
4. Getting you to go long at the top so that they can liquidate











prochargedmopar wrote:1. Watch the "entities"
2. Watch the strength/weakness of the currency you are trading by comparing it to other currencies pairs.

Question. Why does price move? It appears there are many, many reasons why. To numerous to count. All that really matters is which way it's moving now and for the next hr or so which is probably much harder to "guess" than the next Day, or week.

Tell me why I'm a failure so far.
Please.
So then I can use that to succeed.
+$300ish more and I'll be a "micro" success, at least have all my money back.

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Postby noone22 » Mon May 18, 2009 3:47 am

TheRumpledOne wrote:WHAT WOULD YOU DO IF...
These are the people who move price


There are always Big Guys on the FX marketplace background.

But more important question for me (as a small trader with
just a couple of mini-lots) will be:

What would I do (as a small guy),
when Big Guys are strating sell USD for JPY in panic, etc
and how to protect my modest 7 pips profit target
from their spikes.

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Postby MightyOne » Mon May 18, 2009 4:04 am

I would show you, but then I would have to kill you...

razorboy wrote:MO

This is the basis of your DT concept isnt it.......

I am such an F###ing tool for missing this article......

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!


Pro

Read this (or re-read it if you read it already)..........

http://www.sfomag.com/article.aspx?ID=1315&issueID=c

Was previously posted by TRO - just rereading things


prochargedmopar wrote:1. Watch the "entities"
2. Watch the strength/weakness of the currency you are trading by comparing it to other currencies pairs.

Question. Why does price move? It appears there are many, many reasons why. To numerous to count. All that really matters is which way it's moving now and for the next hr or so which is probably much harder to "guess" than the next Day, or week.

Tell me why I'm a failure so far.
Please.
So then I can use that to succeed.
+$300ish more and I'll be a "micro" success, at least have all my money back.

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MightyOne
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Postby MightyOne » Mon May 18, 2009 4:06 am

[s]
LOL
[/s]

noone22 wrote:
TheRumpledOne wrote:WHAT WOULD YOU DO IF...
These are the people who move price


There are always Big Guys on the FX marketplace background.

But more important question for me (as a small trader with
just a couple of mini-lots) will be:

What would I do (as a small guy),
when Big Guys are strating sell USD for JPY in panic, etc
and how to protect my modest 7 pips profit target
from their spikes.

becktthew
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Postby becktthew » Mon May 18, 2009 5:38 am

get a level 2 and see what they r doing............

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TheRumpledOne
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Postby TheRumpledOne » Mon May 18, 2009 6:22 am

Level II is NOT always the TRUTH!

Ever hear of hidden orders? Or "ice-berg" orders? Or Auto-refresh?
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!



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forexbob
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Postby forexbob » Mon May 18, 2009 7:09 am

TheRumpledOne wrote:Level II is NOT always the TRUTH!

Ever hear of hidden orders? Or "ice-berg" orders? Or Auto-refresh?


NOPE, but googled it ......

yes know they existed, mainly by smurfed orders. big one broken in smaller ones. but understood now that ice-berg orders are orders which are not revealing their true size

and as we are thought by TRO , we only have to see (open your eyes)

not clear how to see it, but presume TRO revealed it by the tip of autorefresh (order filled but not vanished ... so the same small order is pumped into the market till it totally gone)

and then price ...........


but probably there is much more to understand how the merket works
canceled orders cq teasing orders put in the market and evaporate again

found http://www.camron.com.au/sectiond.htm usefull reading
but just do your own google read and try to see

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Postby razorboy » Mon May 18, 2009 10:05 am

Of course, these sorts of things go without saying, The challenge is obviously picking them up. Typically in the stock market, you can pick up accumulation and distribution based on the reaction of volume on price movement.

Based on what I have read and seen about ATR (ya, i just put 2 and 2 together) I am wondering if this is what you are getting at - in terms of watching a big player tip their hand.


TheRumpledOne wrote:Level II is NOT always the TRUTH!

Ever hear of hidden orders? Or "ice-berg" orders? Or Auto-refresh?
Ya, I manufacture clear shoe boxes.....http://www.clear-shoe-boxes.com.............who would have thunk!

http://thejoshkerbelproject.com/

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