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From ForexFactory to myFXbook

Ben Scoobert
forex_trader_[921]
Jul 22 2011 at 09:44
276 posts
Well it seems like I'm type 1 trader, totally mechanical.
I'd rather not take a trade that would have made my year, rather than get emotionally involved and take a trade which breaks my year.

tigpips
Jul 22 2011 at 10:54
186 posts
Welcome Oracle, glad to have ya on board :D

http://www.freeforexrebates .info
TheOracle
Jul 22 2011 at 11:18
175 posts
I'm a technical trader but let me try to explain how I see the fundamental Greek problem .

I believe Germany and France will keep playing the Greek card for their advantage for as long as they can. I will tell you why.

 Money works for a country just like shares works for a company. If Apple is doing great people will buy their shares making the price to go up. If a country is doing great their money will appreciate.

The problem with currency appreciation is that it ends up putting a cap on exports because the countries product starts to get to expensive outside their borders.

when your product gets too expensive you sell less, you make less money and you become to suffer financially. when a country starts to have financial problems their currency depreciate.

The good thing with currency depreciation is that it makes your products cheaper outside your borders. With a cheaper ( more competitive) product exports pick up, the country starts to make more money and the financial problems get resolved.

It does not take a genius to see that this appreciation/depreciation acts as a cap when the economy is flying too high and a cushion when the economy is depressed , and it is supposed to be a 'natural' cycle.

Now what we see in a united Europe is a distortion of this natural cycle, or should I say a 'attempt' to trick this cycle to the advantage of a few.

With a bunch of different countries in different levels of economies tied by the same currency you can blur the appreciation/depreciation effect allowing strong economies to keep 'their currency' artificialy down while in depressed economies 'their currency' stays artificialy up.

 More developed Countries ( Germany and France) will benefit in this kind of scenario while the less developed ones (PIIGS) will suffer.

Germany can see their export booming and still the euro will not skyrocket because countries like Greece will keep the currency in check.

Germany and France will throw some change at the countries in troubles ( bail outs) just to keep the scheme going, because they benefit enormously from it, and anyways the pocket change bail out they give will have to be re payed while they collect interest.

If the Euro was abolished today and all the old currencies got back, we would be able to see a big difference between the Drachma and the Deutsche Mark compared to the dollar. This percentage unbalance is hidden behind the euro currency but it shows very clearly on the pockets of the Greek, Portugal, Spain etc.

Thats why bail outs are in the best interest of France and especially Germany. they are not doing it out of philanthropy.

They will play the PIIGS as much as they can to keep the euro in a sweet spot for them.

  


TheOracle
Jul 23 2011 at 09:31
175 posts
Another video. Don't know about you guys but i like to know how institutional traders face their day. A young guy here working for Paribas. I wish I got started on Forex when I was his age.


TheOracle
Jul 23 2011 at 09:41
175 posts
I found this one here also interesting.


Splexin
Jul 23 2011 at 09:47
202 posts

TheOracle posted:
    Another video. Don't know about you guys but i like to know how institutional traders face their day. A young guy here working for Paribas. I wish I got started on Forex when I was his age.



Interesting video, this is very encouraging to me. I started in stocks at 18 and evolved to Forex by age 19. I am close to 21 now and halfway through my Bachelors degree. I'm not sure whether I will go work for a firm one day or remain independent. Three weeks from now I will find out if my calculated end-of-year gain is still high in probability 😀

TheOracle
Jul 23 2011 at 10:05
175 posts

Splexin posted:
  
Interesting video, this is very encouraging to me. I started in stocks at 18 and evolved to Forex by age 19. I am close to 21 now and halfway through my Bachelors degree. I'm not sure whether I will go work for a firm one day or remain independent. Three weeks from now I will find out if my calculated end-of-year gain is still high in probability 😀


If i could go back to my twenties I would go work for institution till 28 or 30. During this period I would gather all the knowledge I could and save all the money I could. Than i would 'retire' meaning trading Forex 4 or 5 hours per day and spending the rest of my time doing what I like.

TheOracle
Jul 24 2011 at 09:32
175 posts
Amy Winehouse is dead. I guess people got shocked but not surprised by the news.

So what does it have to do with trading? Will the pound tank Monday because of this news?

Don't think so! I'm not even a big fan of this girl, but I could not avoid thinking about what makes somebody with fame and fortune to engage in a so destructive kind of behavior to the point of fatality.

She probably struggled with psychological problems like depression, mania, addiction, etc during her whole life, and it does explain partially my question, but, i still insist in believe that If I (just for once) had in my life a opportunity like this people had I would do something different with it.

When I look back in my life i see so few opportunities and the few i had, got messed up due to circumstances totally beyond my control. It feels like a slap on my face when I see people with such big opportunities ending up like that.

We all have problems, from Bill gates to the homeless sleeping under a bridge, we all suffer, in some way or another, thats part of being humans. Some people deal better than others with their daily dose of suffering and some people also take a better approach on the opportunities life present them.

i have decided that if life decides to cut me a break and I find myself doing good in this business ( day trading ) i will try really hard not to succumb to the frivolities of life but instead do something noble with my opportunity.

I've never been a big fan of cars anyways, so i don't see myself burning money in Ferraris. If i really break through as a trader and make the market I think I can make i will watch as carefully as I watch my trades so i don't wast the opportunity.

Look around and you will see how much help this world can use. We live in desperate times and any waste is unacceptable. Amy Winehouse was a big waste if you think about how much good she could have done.

She blew up her account here in this world because of poor opportunity management. My priority is not to make the same mistake, so help me God.

TheOracle
Jul 24 2011 at 11:33
175 posts
Old video, cracking sound, basic stuff, etc and etc. But you know what? He is telling about the truth here.

I can trace every loss i had (big or small) to the disregard of these simple principles. Again, this guy is right.



Ben Scoobert
forex_trader_[921]
Jul 24 2011 at 13:17
276 posts
I don't think anyone is surprised by the death of Amy, she seemed to be on a self destruct path ever since we heard of her. Facilitated by the abundance of money the talent provides, it is a tricky path to tread.

Money effects many people in many different ways, it is a lesson a trader learns early usually when you switch from demo to live trading. I've seen myself dance around the room when closing a trade which made me a month's wages and, at the other end of the spectrum, I've had to put on boring TV to get to sleep when the banks destroyed the building trade in 2008, along with my business and income.

Something to remember, money isn't real, it is just numbers, just little bits of ink on a piece of paper, pixels on a screen, you can't have a negative amount of something that is real, money is not real. That said, people will swap you nice things for it, but don't get too wound up or elated by losing or making it, don't throw yourself from a 50 storey window becasue you lost a lot and don't abuse your body with drink and drugs just because you have more than you need.

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