I think Forex is too much of a good thing. 24 hours a day market lives no time for personal life. There must be trading time and resting family time. I see that those who involved in Forex trading are watching market continuously. I wonder what sense of this? The point is to trade to live not live to trade.

SS_Gemini_1A posted:
    
. But I don't agree with the 'all inclusive blanket statement' that ALL 'Good traders are bad programmers and good programmers are bad traders.'
    You yourself an example of an exception to this 'rule' and that it is confirmation that it IS possible to do both are you not?
Their is wisdom and validity is such an approach. As with many things in life, if one cannot obtain objectivity and see things clearly as they truly are as opposed to seeing only what we want to see and our delusions; then we are lost to human frailties such as desire and greed and lack freedom required to act accordingly.
To be successful with this, One must have intimate knowledge of particulars by examining the trees and plants and animals in the forest very closely and understanding them clearly. But if one cannot transcend this and eventually include the ability to see the entire forest as well, then success with this is unlikely.
Great chess and go masters don't 'calculate out all of the odds' of all the possibilities: They see it as flows and tides and different sweeping tendencies of lines of forces.
Great military leaders know and understand very well what is if to be a common soldier of lower rank. But they must take in the larger view and be able to read and understand all of the forces at work and the possibilities and potentials and pitfalls of the current situation.
To be a successful long term ForEx (technical) trader, is this not the same?


SS_Gemini_1A, I totally agree with you. In general, good traders are bad programmers and good programmers are bad traders. It is all about statistical probability similar to winning the lottery. Millions would buy tickets; however, very few will hit the jackpot. This does not discourage people from buy tickets; however, the odds are not in their favor. My only advice is to lower your expectation about the forex market i.e. only focus on obtaining 35% per year and the money will come. If you are focusing on higher returns, you will take higher risk. With higher risk, you are liking to burn your account before you can reach the $1,000,000 goal.

Chikot posted:
    I think Forex is too much of a good thing. 24 hours a day market lives no time for personal life. There must be trading time and resting family time. I see that those who involved in Forex trading are watching market continuously. I wonder what sense of this? The point is to trade to live not live to trade.


Chikot,
I'm doing fx as part time job, at home. don't monitor so much as we will influence by our emotion and we tend to change the auto trade settings/parameter, open/close the trade.
maybe an hour or two and that's it. as long as we have margin > 85%, no worry.
Saturday and Sunday totally off. Time to spend the time with wife and kids.

winsor posted:
    
SS_Gemini_1A posted:
    
. But I don't agree with the 'all inclusive blanket statement' that ALL 'Good traders are bad programmers and good programmers are bad traders.'
    You yourself an example of an exception to this 'rule' and that it is confirmation that it IS possible to do both are you not?
Their is wisdom and validity is such an approach. As with many things in life, if one cannot obtain objectivity and see things clearly as they truly are as opposed to seeing only what we want to see and our delusions; then we are lost to human frailties such as desire and greed and lack freedom required to act accordingly.
To be successful with this, One must have intimate knowledge of particulars by examining the trees and plants and animals in the forest very closely and understanding them clearly. But if one cannot transcend this and eventually include the ability to see the entire forest as well, then success with this is unlikely.
Great chess and go masters don't 'calculate out all of the odds' of all the possibilities: They see it as flows and tides and different sweeping tendencies of lines of forces.
Great military leaders know and understand very well what is if to be a common soldier of lower rank. But they must take in the larger view and be able to read and understand all of the forces at work and the possibilities and potentials and pitfalls of the current situation.
To be a successful long term ForEx (technical) trader, is this not the same?


SS_Gemini_1A, I totally agree with you. In general, good traders are bad programmers and good programmers are bad traders. It is all about statistical probability similar to winning the lottery. Millions would buy tickets; however, very few will hit the jackpot. This does not discourage people from buy tickets; however, the odds are not in their favor. My only advice is to lower your expectation about the forex market i.e. only focus on obtaining 35% per year and the money will come. If you are focusing on higher returns, you will take higher risk. With higher risk, you are liking to burn your account before you can reach the $1,000,000 goal.


1 - First things first: If one cannot and does not no how trade profitably on the ForEx, then it matters not if it is manual or automated.
2 - With so much hype about presenting the ForEx as 'Instant/OverNight wealth, it is appealing unrealistic baser desires and making for unrealistic expectations. A fairly consistent 35% per year is a very good ongoing profit. Especially with interest rates are as they are/
  Long term successful traders are VERY conservative. Some NEVER have more than a couple of percent in play at any one time at only 10-1 leverage. Without good Money Management and self control and discipline, it doesn't matter how much one makes. be it manual or automated One will lose over the long haul without these. Like the lottery, if one does not play they cannot win. Thus I occasionally but some tickets, especially if there is a large pot. But regardless of this, I never spend more than $10 maybe twice a month at the most. Thus like the ForEx, I NEVER put more than a (very reasonable) amount of money in that I can not afford to lose.

As I said before, if one has tendencies to gamble, then turn around and run away from this as fast as one can and NEVER look back. Though such people can still benefit and profit by the Forex by using 'second party agents' proven methods and sources such as yourself that approach and operate it as a successful business and not a game of chance.
ForEx trading is that 'high risk/reward' 5% ~ 10% at the top of ones investments pyramid. Though in most cases, at least unlike futures / commodities one cannot lose more than they have in their account. But it is still in the category of 'Don't put money into it that one can't afford to lose'.

Regards to all,
  DougRH

I agree too. what sense to be able to code when not being able to trade.