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Is forex gambling?

Mar 16, 2013 at 09:53
17,055 Views
509 Replies
Biedrs kopš   402 ieraksti
Mar 21, 2014 at 22:16
First of all martingale is a very smart way of trading by the way. By hiding the lots etc, it forces you to look at one key factor which is always ignored...... PIP-DRAWDOWN. Here is what you need to do. Open up my history, and on each transaction please look to the far right! You will see a small chart yes? Well hoover your mouse over it. Do you see something which says PIP-DRAWDOWN. That is the most important stat that anyone could ever mention in forex. As the lower your pip-drawdown, the quicker you close for profit, and the less time your exposed to a market which can reverse 100's of pips. This EA has a very low pip- drawdown, and this system doesn't use martingale. Should you have any questions about PIP-DRAWDOWN I'll be more then happy to answer them.
Focus on pip-drawdown
Mar 21, 2014 at 22:40
That's for the investor to make that decision since your too scared to invest hundred if thousands on it
Biedrs kopš   402 ieraksti
Mar 21, 2014 at 23:44
forexpipcatcha posted:
That's for the investor to make that decision since your too scared to invest hundred if thousands on it
I sense some sort of anger over my Stats. Why don't you pick a certain trade, and we can explain why it was so successful. The robot just does a command. It isn't emotional as you, nor I.
Focus on pip-drawdown
Mar 21, 2014 at 23:58
Ok then you pick the trade and tell me why you didn't place a 200k lot on it.... The answer is very simple fool because you have very little faith in it so my question now becomes why should I or anyone invest in something you have no faith in?
I suggest you stop while you're looking the fool you are or do drop me a message of where you placed that small 200k trade, by the way this topic says is forex gambling not jerks wanking.
Mar 22, 2014 at 03:31
'Bob as a US resident aren't you allowed to open up accounts abroad? Or is the US turning into another India lol '

It's not that we are 'Not allowed' to open an account off shore but the US government wants to regulate everything and takes the off shore business to court that accept US clients but don't accept US regulations. Most banks even have a problem opening accounts for US citizens that are not residents of their country, because to do so would mean that they would have to follow US regulations. It is getting tighter and tighter.

I can't trade that one robot that never loses that I'm so proud of. I worked my ass off to make that thing work but because of the FIFO regulations, that only effect US traders, I have to show it on a demo from a broker in New Zealand. They let me have a demo account to do my research on, but I am not allowed to open a live account with them. This new government in the US really sucks.

Bob
where research touches lives.
Biedrs kopš   402 ieraksti
Mar 22, 2014 at 15:44
forexpipcatcha posted:
Ok then you pick the trade and tell me why you didn't place a 200k lot on it.... The answer is very simple fool because you have very little faith in it so my question now becomes why should I or anyone invest in something you have no faith in?
I suggest you stop while you're looking the fool you are or do drop me a message of where you placed that small 200k trade, by the way this topic says is forex gambling not jerks wanking.

 Feel free to keep track of this wonderful system.
Focus on pip-drawdown
Mar 23, 2014 at 06:21
Master_Kiwa posted:
Feel free to keep track of this wonderful system.

With no lot size it's hard to know how you do your money management. Some systems only have marginal advantages over other similar systems but what sets them apart is the money management. If you are looking to advertise and eventually attract investors you need to show them your money management system. Otherwise, keep trying.
Biedrs kopš   98 ieraksti
Mar 23, 2014 at 08:12
lastpiponearth posted:
Master_Kiwa posted:
Feel free to keep track of this wonderful system.

With no lot size it's hard to know how you do your money management. Some systems only have marginal advantages over other similar systems but what sets them apart is the money management. If you are looking to advertise and eventually attract investors you need to show them your money management system. Otherwise, keep trying.

i agree with you
A trader can be an economist but an economist could never be a trader. They are too theoretical.
Biedrs kopš   1 ieraksti
May 04, 2014 at 06:30
I think forex is not gambling, we it is very risky.
Follow your dreams!
May 05, 2014 at 03:04
forexpic posted:
I think forex is not gambling, we it is very risky.

If a investment system can take over 3,000 trades with no losses, how can the market be risky? Everyone can trade it wrong but if one program can do it, not just once but every time, I say the assumptions are in error and the market isn't what is so risky.

Check out the attached article that I wrote about a year ago, but just updated to see reasons why forex is safe.

Bob

Pielikumi

where research touches lives.
Biedrs kopš   99 ieraksti
May 05, 2014 at 09:49
its not gambling if you know what your doing, there are logic in there.
but casino... there is no skill and no logic and you WILL LOSE money. you may win some money in there but the longer you stay the bigger chance to lose money, and when that happens, loses usually bigger than wins. this is all about mathematics.

for example roulette

you think betting black and red is 50% 50% win chance? nope.... its not. because there is 0 and 00

and its not 47% either. its 5% to lose plus 50% to lose

so that 5% is how they makes money and run 24Hs


May 05, 2014 at 20:24
kanon103 posted:
its not gambling if you know what your doing, there are logic in there.
but casino... there is no skill and no logic and you WILL LOSE money. you may win some money in there but the longer you stay the bigger chance to lose money, and when that happens, loses usually bigger than wins. this is all about mathematics.

for example roulette

you think betting black and red is 50% 50% win chance? nope.... its not. because there is 0 and 00

and its not 47% either. its 5% to lose plus 50% to lose

so that 5% is how they makes money and run 24Hs



Why do you know anyone trading that thinks he doesn't know what he's doing? Just like yourself!
Biedrs kopš   70 ieraksti
May 05, 2014 at 21:00
Bob Llewellyn:
So, the Pegasus isn't doing too great, is it? https://www.myfxbook.com/members/ForexAssistant/pegasus/670938

This is what it looks like when the Martingale busts... as it always does at one time or another.

Perhaps remove it? As the other one was removed... bet it bust too.


Biedrs kopš   99 ieraksti
May 05, 2014 at 21:19
Why do you know anyone trading that thinks he doesn't know what he's doing? Just like yourself!
why do you think that they knows what they doing? your saying even newbies could make money? thats wonderful everyone gonna be rich.



Biedrs kopš   99 ieraksti
May 05, 2014 at 21:19
forexpipcatcha posted:
kanon103 posted:
its not gambling if you know what your doing, there are logic in there.
but casino... there is no skill and no logic and you WILL LOSE money. you may win some money in there but the longer you stay the bigger chance to lose money, and when that happens, loses usually bigger than wins. this is all about mathematics.

for example roulette

you think betting black and red is 50% 50% win chance? nope.... its not. because there is 0 and 00

and its not 47% either. its 5% to lose plus 50% to lose

so that 5% is how they makes money and run 24Hs



Why do you know anyone trading that thinks he doesn't know what he's doing? Just like yourself!


why do you think that they knows what they doing? your saying even newbies could make money? thats wonderful everyone gonna be rich.
May 06, 2014 at 01:57
Ironman posted:
Bob Llewellyn:
So, the Pegasus isn't doing too great, is it? https://www.myfxbook.com/members/ForexAssistant/pegasus/670938
This is what it looks like when the Martingale busts... as it always does at one time or another.
Perhaps remove it? As the other one was removed... bet it bust too.

No, Pegasus is doing fine but it has been changed. I've added an aggressive option that I am checking out. You just don't understand what you are seeing and like every egotist here, you make an accusation instead of first asking questions to understand. I want a program that will give the equivalent of one profit for each trade regardless when the profit is made.

A recovery program that is a little above your pay scale called a Fibonacci recovery algorithm has been doing very well but there is a secondary recovery system that kicks in so the primary recovery system doesn't get too high. I need to see how this new algorithm will work and I want to check it out when the system is in recovery mode. So with a lot of effort, I finally got it into recovery so I can see if a double loss is too great for the system, 2 recovery time with the new aggressive component and third, the new aggressive component itself. However, just for the record, the thing is still not for sale.

The other system that was closed was my first attempt at making one profit for every trade, it worked but since the Fibonacci grows at a much slower rate, I figured out how to do it with that system. I project the recovery to completely recover all the losses by the end of the year plus still make all of it normal profits. That's what research is about. The patience of Job. You only want to talk about my research programs that I am still working on, why is that, what about the other two that is for sale?

Bob
where research touches lives.
Biedrs kopš   268 ieraksti
May 06, 2014 at 04:12 (labots May 06, 2014 at 04:13)
How's my old mate Bob doing? Don't let them get to you mate!!

I've been a far more relaxed person since I stopped posting here again. Too many Nimrods without a clue sprouting on about things that are way above their intellectual abilities. Offset them with a bunch of fresh faced upstarts that have made their first thousand and think they have cracked the code, full of importance and advice and hell bent on teaching the old dogs new tricks.

News flash. Old dogs got to be old because their tricks work. Young pups are the loud and boisterous ones but generally you can ignore them. They eventually get savaged by the market and the smarter ones hulk away into the shadows never to be seen again. The really dumb ones just bark louder and make more noise and better excuses.

Sometimes a bit of stick helps. Hell even Pipmuncher became a far better behaved animal after a slap. But generally I like the peaceful life offset with the entertainment of watching this circus from the side lines.
You can't spend open trades.
May 06, 2014 at 04:33
gamble
ˈgamb(ə)l/
verb
verb: gamble; 3rd person present: gambles; past tense: gambled; past participle: gambled; gerund or present participle: gambling

    1.
    play games of chance for money; bet.
    'he gambles on football'
    synonyms: bet, wager, place a bet, lay a bet, stake money on something, back the horses, try one's luck on the horses; More
    informalplay the ponies;
    informalpunt, chance one's arm, have a flutter;
    raregame
    'I go to the races when I want to gamble'
        bet (a sum of money).
        'they gambled their money on cards'
    2.
    take risky action in the hope of a desired result.
    'he was gambling on the success of his satellite TV channel'
    synonyms: take a chance, take a risk, take a leap in the dark, leave things to chance, speculate, venture, buy a pig in a poke; More
    take a flyer;
    informalstick one's neck out, go out on a limb;
    informalchance one's arm
    'we gambled today and we were fortunate to get away with it'
    act in the hope of, trust in, take a chance on, bank on
    'he gambled on finding someone to give him a lift'

noun
noun: gamble; plural noun: gambles

    1.
    an act of gambling.
    'Dad likes a bit of a gamble'
    synonyms: bet, wager, speculation; More
    game of chance;
    informalflutter, punt
    'his grandfather enjoyed a gamble'
    2.
    a risky action undertaken with the hope of success.
    'we decided to take a gamble and offer him a place on our staff'
    synonyms: risk, chance, hazard, speculation, venture, random shot, leap in the dark; More



yes its gamble , every thing you do which has chance of going against your expectation is a gamble.
May 06, 2014 at 05:15
'How's my old mate Bob doing? Don't let them get to you mate!!'

Hey it's Silverthorn, your back. Well doing better now. I was a bit ticked for a bit when good traders were dropping out because of all the name calling. We seem to have lost HolyCow.

I have been working on something that is so big that if we can pull it off, there will be a cascade of benefits that would rival that of the internet. I posted the announcement of this on this forum because I was here when it came to me.

https://www.myfxbook.com/community/new-traders/traders-give-birth-new-idea/755228,1#?pt=2&p=1&o=755228

Check this out and post any ideas that you may have. And it's good knowing that you will be stopping in once in a while. I've unsubscribed from most of the other topics, just too depressing, the new topic is a mood lift. I think. Hope to see you there.

Bob
where research touches lives.
Biedrs kopš   268 ieraksti
May 06, 2014 at 06:10 (labots May 06, 2014 at 06:18)
LOL!! Just dropped in to add my latest EA under development to MFB to track it's performance. I should stop the feed immediately and spend the next week telling everyone how great I am. Apparently I've made 122% today, 394.89% this week and 3679.73% this month. 😲 I may never need to trade again!!

If only it was true!!

Unfortunately there are two zeros missing from the deposit amount so you need to divide all those numbers by 100....

😝


EDIT:- All better now. Template file was corrupt. The truth isn't as exciting but you can't spend fantasies any more than open trades.
You can't spend open trades.
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