How about "Live" trading?

ed555009 posted:
Hi folks.

I am a new forex trader with very limited experienced in just 1 year.

I am wondering, how many experienced traders would like to go live (like youtube or Facebook live) to share their concept and strategy in realtime?

And, if you are a new trader or struggling in trading forex, do you think that watching someone trading in live will help?

I think that a merchant would use well youtube to help, in his experience to others who wish to venture into the field.
As a kind of mentor. It could be well developed.

I see that in Germany some pro traders are doing the so called live trading rooms. I hear from local friends this has been there as a practice for quite a long time already. These roomя are paid so the pro traders do their job in real time winning and the rest pay to follow them. I haven't been part of such rooms, but this is what I understood.
I agree that selecting whom to follow is very important as there is plenty of scam as well.

I am still about to see the VERY FIRST TRADER who has learnt successful trading from books and videos.

Free online educational staff (e.g. babypips.com) and participating in meaningful threads on ForexFactory.com would be probably more useful.

I agree with Tomas that no - REALLY - successful trader will sell videos and seminars. They have better things to do with their time, especially because they have all the money to buy memorable life experiences... At BEST they might accept private students, so their knowledge and experience would not go into the graveyard with them.

I will be starting a challenge in January if anyone is interested in following.

FxMasterGuru posted:
I am still about to see the VERY FIRST TRADER who has learnt successful trading from books and videos.

Free online educational staff (e.g. babypips.com) and participating in meaningful threads on ForexFactory.com would be probably more useful.

I agree with Tomas that no - REALLY - successful trader will sell videos and seminars. They have better things to do with their time, especially because they have all the money to buy memorable life experiences... At BEST they might accept private students, so their knowledge and experience would not go into the graveyard with them.

Well this is an interesting point.
But it could be very helpful for some of the greats if you create a really good strategy. Money and fame friends!

I have seen books on technical analysis which are 600+ pages. I guess if someone reads and understands everything there, this could be a good push to success. There is math and science behind it and you either learn from the books or from own mistakes. One does not exclude the other though 😄

lee42747 posted:
I have seen books on technical analysis which are 600+ pages. I guess if someone reads and understands everything there, this could be a good push to success. There is math and science behind it and you either learn from the books or from own mistakes. One does not exclude the other though 😄

This is wise advice. However, the books are full of good tips that sound perfect, when it comes to trading put them into practice is a challenge.

I wish I had the patience to read more books at the beginning but I switched to learning by doing quickly 😄 @naiza How about you?

Yes, I feel getting live performances of the experienced traders would help. This will surely help us in learning from their experiences. Watch educational lectures, video tutorials can all provide us with the visual learning from the trades of experienced traders. This can help build the confidence of the trader.

FxMasterGuru posted:
I am still about to see the VERY FIRST TRADER who has learnt successful trading from books and videos.

Free online educational staff (e.g. babypips.com) and participating in meaningful threads on ForexFactory.com would be probably more useful.

I agree with Tomas that no - REALLY - successful trader will sell videos and seminars. They have better things to do with their time, especially because they have all the money to buy memorable life experiences... At BEST they might accept private students, so their knowledge and experience would not go into the graveyard with them.

It is good, very good actually but only for those selling these books and videos :-D

there is nothing like experience, BUT I must admit that i find reading books, on trading or other topics, very inspirational. Many ideas have been triggered by reading trading books next to the swimming pool. I would agree simply applying the book theory does not work, but cutting ourselves off from more formally documented knowledge like books, would be a big loss.

No one will share his winning system. Think about it. You can only win the money others loose. So? Would I be interested that others win my money? You have to figure it out yourself.

Xpatricio posted:
No one will share his winning system. Think about it. You can only win the money others loose. So? Would I be interested that others win my money? You have to figure it out yourself.

That is correct. Also another point here, everyone have different trading style, different character and what is suitable and works for one person for example, may not work for another.
Even profitable system to be shared, because of the abovementioned reasons, the system will not work for everybody :)

Xpatricio posted:
No one will share his winning system. Think about it. You can only win the money others loose. So? Would I be interested that others win my money? You have to figure it out yourself.

Very true! Trading is a NEGATIVE SUM GAME.

According to statistics the total losses of losing traders is about 5x MORE than the total gains accumulated by profitable traders.

In other words: About 80% of all funds lost by losing traders precipitate at brokers, market makers and liquidity providers...

Yes trading is game of cat and mouse. But what if the profitable traders start sharing their experience with the unexperienced ones – this way more traders will start approaching more funds and the brokers, market makers, LPs will start achieving less. I know this is something that is not very likely to happen but it will get the traders one step further in the trading system

TiffanyK posted:
Yes trading is game of cat and mouse. But what if the profitable traders start sharing their experience with the unexperienced ones – this way more traders will start approaching more funds and the brokers, market makers, LPs will start achieving less. I know this is something that is not very likely to happen but it will get the traders one step further in the trading system

@TiffanyK

Well, it sounds good, but one cannot expect it as a FREE service and to ''unlimited'' number of ''unexperienced traders'' as eventually the market liquidity could not absorb all the volume created by these ''unexperienced traders''.

Although it might be hard to believe, occasionally I already run into liquidity issues by managing 10+ investor accounts with the same automated Asian session scalper strategy, i.e. actually my EAs' orders are occasionally moving some thinner liquidity pairs even though just for seconds and 1-2 pips at max during the Asian session. So if I accepted 100+ ''unexperienced traders'' as investors, the slippage would be so huge, that the entire strategy would simply implode.

Your suggestion does make sense in theory, but in practice it would not work out for everybody even with the best intentions.

We could look at the case with pro traders sharing live signals from a different perspective:
How about if a pro trader has 1000 followers that trade with significant amount of money copying his positions? The price trend is formed by the trades opened so the more people trade in the same direction, the better. Maybe this could be of an advantage also for the pro trader. Of course this is quite simplistic example and things do not work always in ideal conditions. But just thinking out loud of a possible reason for a pro to share signals, apart from earning money for it.

MC85 posted:
We could look at the case with pro traders sharing live signals from a different perspective:
How about if a pro trader has 1000 followers that trade with significant amount of money copying his positions? The price trend is formed by the trades opened so the more people trade in the same direction, the better. Maybe this could be of an advantage also for the pro trader. Of course this is quite simplistic example and things do not work always in ideal conditions. But just thinking out loud of a possible reason for a pro to share signals, apart from earning money for it.

Possibility of doing that with Stocks ,if your going to do it with FX intraday only, it would be safer doing Futures say on an index.

MC85 posted:
We could look at the case with pro traders sharing live signals from a different perspective:
How about if a pro trader has 1000 followers that trade with significant amount of money copying his positions? The price trend is formed by the trades opened so the more people trade in the same direction, the better. Maybe this could be of an advantage also for the pro trader. Of course this is quite simplistic example and things do not work always in ideal conditions. But just thinking out loud of a possible reason for a pro to share signals, apart from earning money for it.

Well I had experience with this. Sometimes I feel like we were affecting markets but I doubt even millions traded have some impact as forex market is huge.