theHand's Posts - Page 4

Market Manipulation? in General Nov 03, 2016 at 00:28

Zip zero technical analyses. I have 10 lines of code that does this. You guys can waste your time if you want to. Me I'd rather hit the beach. http://www.myfxbook.com/files/theHand/Screen_Shot_20161103_at_7.24.11_AM.png

Market Manipulation? in General Nov 02, 2016 at 14:57

Un farking believable...The mind boggles.

Market Manipulation? in General Nov 02, 2016 at 09:56

The markets are openly manipulated. Several large banks have now paid fines for anything from interest rate to gold fixes. DB is facing a $15 billion fine which will send them into insolvency. Gold is the worst, probably manipulated at top government level. There's no mystery here. Markets are continuously and openly manipulated at the highest level.

To trade or not to trade during next few weeks (trick-or-treat thread) in General Nov 02, 2016 at 08:36

And I have pointed out in several threads here exactly how useless technical analysis is. People who beat that drum and then wipe out should really not be surprised. Technical analysis an age where computers are crunching numbers like the clappers and can do high volumes of repetitive tasks is like throwing chicken bones to determine where on mars we should land. It's a exercise in futility. Just look an a 4 hour chart of of GbpUsd, what could technical analysis do with that spike ? I must have flipped my Gbp position something like 10 or 20 times on that. I don't even know many times ...

To trade or not to trade during next few weeks (trick-or-treat thread) in General Nov 02, 2016 at 08:28

Then those people don't have a good system. I've traded through every event from Y2K to today, including 2008, that CHF event, BREXIT, Turkey and few random other bits and pieces. There's no debate. If you're not sure don't be in and then accept your system needs work. End of story.

BIRARY OPTION in New Traders Nov 01, 2016 at 11:14

Binary options are about the worst thing you can trade. The deck is so stacked against you, not only do you have to be right, but you have to right very quickly. It has time decay and very aggressive time decay at that. I made a lot of money initially playing warrants, but in the end lost it all, for the simple reason that you can't wait to be right, not only that, but your ability to sell your bet loses value depending on how quickly the expiry is approaching. Took me 6 months to lose all the $250 000 I made on it pre Y2K. My directions were spot on, but the time always got me in the end....

To trade or not to trade during next few weeks (trick-or-treat thread) in General Nov 01, 2016 at 09:10

If you have to sit this out then you don't have good systems. I'm hoping all hell breaks lose to be honest, worse it gets better I do.

TWICE IN AS MANY WEEKS SMALL TRADERS ARE MOCKED BY THE BANKS in General Oct 31, 2016 at 00:41

@SaltyWaters It just confirms my view really. The entries just doesn't matter, so it's no use worrying about them. Which is what most people spend years and years doing and then quit. They never get to move onto the stuff that makes fx work. I made the same mistake. Waisted 4 or 5 years trying to predict fx, before I realised you don't have to.

TWICE IN AS MANY WEEKS SMALL TRADERS ARE MOCKED BY THE BANKS in General Oct 31, 2016 at 00:06

@FxMasterGuru Some can't easy switch accounts, myself included and you can't set the date, so those stats are wrong, the growth and Balance doesn't even appear to have anything to do with each other, That account is up 600% not down 90%.

TWICE IN AS MANY WEEKS SMALL TRADERS ARE MOCKED BY THE BANKS in General Oct 30, 2016 at 13:34

@Greggy Fxbook does a fairly shit job at tracking anything. I stopped using it some time ago as accurate stats are just impossible to get. So don't knock someone if they don't publish stats. Here's an example of a 600% a year system apparently in loss when it clearly isn't, this is one of the best systems running on fxbook, but it looks like shit. http://www.myfxbook.com/members/robotfxea/robotfx-30-bonus/1512778And don't be so defensive, people are trying to help you here.

TWICE IN AS MANY WEEKS SMALL TRADERS ARE MOCKED BY THE BANKS in General Oct 29, 2016 at 13:06

Don't take my word for it, someone do the leg work. Download the data set to a CV file, get it into excell and see how often you get a high and low straddling the initial price point + 1 your count, it will clearly demonstrate that almost any position you open will go into profit several times. I've done this so I know this. So I know it doesn't matter what I do it will go into profit, you can throw darts blind folded at fx and make money. As long as you manage your positions properly.

TWICE IN AS MANY WEEKS SMALL TRADERS ARE MOCKED BY THE BANKS in General Oct 29, 2016 at 13:01

In Roulette you don't get 11 chances per single roll of the dice. In fx you do...

TWICE IN AS MANY WEEKS SMALL TRADERS ARE MOCKED BY THE BANKS in General Oct 29, 2016 at 12:46

SaltyWaters here achieves 47% randomly. Don't need more than that. It's actually better than studied attempts at guessing direction.

TWICE IN AS MANY WEEKS SMALL TRADERS ARE MOCKED BY THE BANKS in General Oct 29, 2016 at 12:44

Well there we go, explicit evidence. Thanks SaltyWaters. Obviously you want to get your entries as good as possible, but they are maybe 1% of the process. Eye it out, trade the way you think it's going to go, but then start the management. Don't lose sleep over being right. Even top fund managers are right about 30% of the time. I once counted how many times we go through a price level on a pair, 11 on average. Any trade you open likely will go at least 11 times into profit before you move away from the price range. That's more than enough time to manage the thing. Once you do thi...

TWICE IN AS MANY WEEKS SMALL TRADERS ARE MOCKED BY THE BANKS in General Oct 29, 2016 at 00:29

Look, I have over 20 systems in the market. All of them with contradictory positions on 28 pairs. They all make money. The only possible conclusion that you can come to from that is that direction and therefore technical analyses is irrelevant. If you don't believe me then go look at say the top 10 systems on fx book. They all will have contradictory positions at any given tine and they all make money as well. You don't need to guess what the pound is going to do to make money in fx. You make or lose your money by how you manage your positions. So stop waisting time trying to figure o...

NFP Predictions in Experienced Traders Oct 28, 2016 at 11:51

It's stupid to try make pips on NFP. On my 30 pairs there over 1 000 000 value changes a day. That's easy. Waiting for a whole month for 5 minutes is insanely stupid.

NFP Predictions in Experienced Traders Oct 27, 2016 at 10:48

And I must say, it's starting to look like you know nothing about fx at all. I just don't see the mindset it requires to make fx work.

NFP Predictions in Experienced Traders Oct 27, 2016 at 10:29

@CrazyTrader Because it simply doesn't work like that. Almost no one makes a profit, the entire MT industry is based around no one makes a profit. If you do they have methods of making sure you don't. The figures are public for the US industry, which is dismal and the rest of the world isn't doing any better. Basically there really aren't many retail fx traders making money. Maybe 10 to 100 in 100 000 ?!So if you go after 5 mins in 30 000 you are really, really exponentially fucked. Takes a special level of stupidity to go after something that almost never happens.

NFP Predictions in Experienced Traders Oct 27, 2016 at 09:21

It's almost beyond my comprehension how people can be this stupid. I don't know if I should laugh or cry.

NFP Predictions in Experienced Traders Oct 27, 2016 at 09:13

Well - they must go for it, I'm going for the other 28 755 miuntes....

All Quotes
AUDUSD	0.65262	USDCHF	0.9128
EURJPY	166.97	EURCHF	0.97966
EURGBP	0.8569	GBPJPY	194.81
EURUSD	1.07288	GBPUSD	1.25199
USDJPY	155.62	USDCAD	1.36773

EURUSD	1.07288	GBPUSD	1.25199
USDJPY	155.62	USDCAD	1.36773

Posts by theHand