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Author Topic: Trading on the financial Market?  (Read 16453 times)

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scepticus

Re: Trading on the financial Market?
« Reply #90 on: April 09, 2017, 05:35:37 PM »
 Hi Geoff,
“The Long and the Short of It “ is a good guide to the complexities of finance and investment .It supports your view   that investors should be their own “financial advisor “ and gives advice on how best to do this.
I don’t think, though, that he would approve of you paying for advice as he thinks that all you need can be found these days online -  and he has a poor opinion of the financial advice sector.
While he is against  betting on  roulette his view on the use of probabiities  and that profitable investment involves risk and the return on investment is uncertain chimes with my view about roulette. I think that all too many roulette bettors focus too much on return and not enough on risk.

Like in roulette there are people in the financial sector that trail through historic  series trying to find  systems that ,  in the past , have yielded substantial profits and conclude  that they will be profitable in the future.
Overall I think that it gives a good overview of the financial system and would be of interest to those thinking of investing in financial products and even those who merely want to broaden their knowledge of the financial scene.
« Last Edit: April 09, 2017, 06:49:23 PM by kav »
 
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Geoffrey

Re: Trading on the financial Market?
« Reply #91 on: April 20, 2017, 12:30:53 AM »
sorry for the delayed answer. Thx for your feedback on the book sceps. Feels like a good book with much general content.

Yeah its true i dont think very highly off the so called 'financial experts' looks like i dont stand alone with that opinion. Good to know.

I'm a 100% pro educating yourself believer, this will take much time, but it's far better in the long run , that you can develop your own knowledge and skills, instead of taking someone elses word for granted.

The fact that i do spend money, when maybe not neccesary, consists of 2 reasons.

1. Maybe a bit old fashioned, but i do spend most of the day behind a laptop, and for reading i simply prefer a book. so i calculate what the extra expence of buying something is. And decide if it is worth it or not.

2. The trading course/school i will attend is not from some scammer 'charlatan' It's from a trader who won serveral gold medals in the Technical Analyses Competion at the Paris Trading Exibition.

The only reason i do spend money, is because of personal preferences (reading a book instead of a screen) and the certainty that i'm convinced the trading school will make me a better trader that i am right now. Even if it were by a couple of percentages in skill, it'll be worth the investment

The overal feel of your posts suggest that you enjoyed reading it, which is good to hear. I'll put the book on my 'optional' list :)
 
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scepticus

Re: Trading on the financial Market?
« Reply #92 on: April 20, 2017, 03:46:55 PM »

Hi Geoff
I certainly wasn't implying that  the tutor on your intended course was a scammer. I think he is entitled to ask for payment for passing on his " knowledge gained " .  I think that technical analysis is a field open to differing interpretations so this guys view on it should be interesting. Hope it will be worth the expense.
As for the book " The Long and the Short of it " I did find it enlightening but then I am no financial expert !.
And it is only one guy's view after all - but it does give food for thought .     
 
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Jake007

Re: Trading on the financial Market?
« Reply #93 on: May 12, 2017, 04:24:13 PM »
Hey guys... you're welcome...

http://traders-library.com/Trading%20Books/

 :)
« Last Edit: May 12, 2017, 06:56:47 PM by kav »
 
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scepticus

Re: Trading on the financial Market?
« Reply #94 on: May 12, 2017, 04:55:52 PM »

Thanks Jake .
Wow !
Some list. Will take some reading of it to choose which to read .Not that I trade . Just interested in how others lose their money  !!
As many - if not more - ideas in trading as in roulette  ! LOL
Nice offer of   free downloads .
Thanks again .
 
 
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Geoffrey

Re: Trading on the financial Market?
« Reply #95 on: October 19, 2018, 10:00:33 PM »
To start off , i would like to apologize for my long abscense.

reasons why are twofold.

1 being having personal issues, one more severe, going from medical problems, break up, a close friend passing away, someone close to me ending up in psychiatric institution, to name a few among others.

This situation i got in emotionally , did affect my trading losing several k along the way (which never happened before) so there you have it. Have i not stressed enough how important your mindset is doing trading. Your mind has to be clear of all things which can possibly clowd your own judgement. In the end i succeeded in recovering what was lost.

2 and this is kinda the positive side , although i wasn't around here. What i was working on , i did not put on hold, i just reversed some things.

The main idea was to do trading school this year. But the state of mind i was in, i would just be wasting my money on it, without improving myself because my mind was elsewhere.

Actual trading was 'dangerous' at that point. But reading about it did some good (discract me form things hurting me). So instead of trading school + reading a bunch of books the year after. I changed it around.

I did read trading books all year around, only 2 to go of the 51 :P and actually have begun with the actual writing summarizing of everything. So maybe you guys haven't heard from me in a long time, it's not that my plans are of the table. (so yeah the moments i spend over here, i just replaced with sitting in my books like some kind of mad man. I think it was a way to supress  some kind of negative emotions.
 

scepticus

Re: Trading on the financial Market?
« Reply #96 on: October 20, 2018, 02:59:28 AM »
Just shows that you are human , Geoff. No apology necessary.( if you do think an apology IS necessary then apology accepted  ;D )
 

Geoffrey

Re: Trading on the financial Market?
« Reply #97 on: October 20, 2018, 02:20:56 PM »
thx sceps. To be honest yeah i feel i needed to. Took time this topic got interest, but as it progressed, several people did show some interest. Felt like letting people down.

Funny you mention 'being human'. When i think about it. Geoff in daily life is completely different from Geoff the trader. Seems weird to say, but it feels like a necessity being succesfull in trading.
Why are 90% failing at this? Because its a for the most part a pyschological thing. The problem is, the be able to do this consistently is having the capacity of shutting down all emotions. Doing this is against our human nature. So in short, me trading is like transforming into some sort of robot kinda speak.

People on this forum understand what it feels like putting yourself at some kind of risk, be it stock market, roulette, BJ. Most cant handle it well day in day out.

Luckily i'm pretty decent at trading the bell. So most of the time i only spent 2-3 hours a day trading. In the morning the Europe market, in the middle of the afternoon the US market (logically because of different timezones) Sometimes i dont trade at all.(when setup isn't right).

Helping out others is my nature, to be of value to others is my objective, that is why i came up with the idea of a book. So anyone should be free of wasting time gathering info that is unneccesary, incomplete, invalid, false , etc.

i'm gratefull i was raised with the idea not taking important decissions when a) being madly in love b) outragous or c) being in financial trouble. Glad i remembered that in time before hurting myself trading wise.

Other example to potret the kinda guy i am.

Everyone loves getting gifts/presents right? Well to me it is equally forfilling if not more forfilling to get someone a present, and to see on the spot how overjoyed she or he is with it. The look on someones face, the hapiness in their eyes, which cant be faked. That moment to me is something priceless. there is no better feeling in the world knowing how happy you can make another person. Nothing is as forfilling to see the twinkle in someone's eyes, even seeing tears of joy, showing how much they appreciate because of what you did.

But getting of subject. Later on today, I'll post something trade related, everyone should be aware of. maybe some of you already are, maybe some are not.
« Last Edit: October 20, 2018, 02:24:22 PM by Geoffrey »
 

Geoffrey

Re: Trading on the financial Market?
« Reply #98 on: October 21, 2018, 01:45:53 PM »
So i wanted you guys to be aware of something (who has never actually traded, wont know this) and maybe those who do are not aware, maybe some will.[/size]So here goes:there are tons of sites that offer the so called 'free signals' service. Mostly on Forex? Well thats because it's the market which is the easiest accesable and approachable for 'newbies'. You dont have a lot a prep work to do, you dont need a lot of money to start. So logically this is the place were most will start their trading journey.These free signals providers are well aware of forex market being the place where most unexpierenced traders are. So they take advantage of that situation.For someone unexperienced it feels 'safer' to have someone to 'guide' you , so they think. This is common. A trader beginner will think 'i dont want to make mistakes so i'll follow something that knows better. If a signal turns out bad, well wont be my mistake 'even the experts' where wrong. Thats somewhat the mindset a total novice will have.Problem nr 1 is, people get into forex because its easy accesable, before even learning properly. Most dont put the time into it to become a little competent, mostly because of impatience.Problem nr 2: you dont learn how to trade yourself, you just stay at same level knowledge wise. You simply put trust into some service and we follow it blindfully.Now, let me tell you how these so called free signal providers work:You can turn them into 3 different groups:1 Scammers2 Affliate3 TradersThe first group will send you free signals for a short amount of time, then contact you with the following statement 'if you want to continue using our services for the following month , it only will cost you XX dollars (mostly it will be a promotion price, just to drag you in a bit further).Second thing these scammers do is not sending you trustworthy signalsI will simplify how it works. To make it easy lets say a certain free signal has 10 followers/clientsWell 5 wil get a signal with a buy orderthe 5 others wil get a sell order at the same position as the buy orderIn short half of you will get a good signal, the other half a bad. So in the long run, some followers will make money out of it when they get more good than bad signals, and start yelling that it actually worksThe ones getting more bad than good will tell its a complete scam. In fact both statements are kinda wrong. It's just completly random a solely based on luck. That is all.The second group:Affeliate: these are the once who have a partnership with a certain broker. They will give you the signals for free, when you open an account with their partner broker so in fact , those signals aren't free at all, and as always, the broker still gets his commision fees on the trades you make.The third group :Consist of people who actually trade themselves. But still is not advicable to do so. Simply because those traders are in an other league speaking in terms of finance. it's thrustworthy tho , those traders but there reputation and credibility on the line. If they make a good trade, it'll be good for you too. But the problem here will be your bankroll. These pro traders wont work with a bankroll under 100k. You as a beginner will have several K , lets say 5kA loss of 1k is nothing for the pro, compared to the beginner it would be a devastating loss.when the trade was a win we get the same problem. Lets for example say the pro makes 2 k with his 100 000 BRthat equals 100 dollars with your 5 000 BRThere's a difference of 1900 in winnings while you took the same risk reward trade as the pro. All because of not being able to size your trade as the pro did.Conclusion Stay away from everything 'free signal' related. It's BS
 

Sputnik

Re: Trading on the financial Market?
« Reply #99 on: October 21, 2018, 02:20:20 PM »

Geoffry you can copy text into note pad and then copy back to forum topic to get the text correct.

Cheers

So i wanted you guys to be aware of something (who has never actually traded, wont know this) and maybe those who do are not aware, maybe some will.
So here goes:there are tons of sites that offer the so called 'free signals' service. Mostly on Forex? Well thats because it's the market which is the easiest accesable and approachable for 'newbies'.
You dont have a lot a prep work to do, you dont need a lot of money to start. So logically this is the place were most will start their trading journey.
These free signals providers are well aware of forex market being the place where most unexpierenced traders are.
So they take advantage of that situation.
For someone unexperienced it feels 'safer' to have someone to 'guide' you , so they think. This is common. A trader beginner will think 'i dont want to make mistakes so i'll follow something that knows better.
If a signal turns out bad, well wont be my mistake 'even the experts' where wrong. Thats somewhat the mindset a total novice will have.
Problem nr 1 is, people get into forex because its easy accesable, before even learning properly. Most dont put the time into it to become a little competent, mostly because of impatience.Problem nr 2:
you dont learn how to trade yourself, you just stay at same level knowledge wise.
You simply put trust into some service and we follow it blindfully.
Now, let me tell you how these so called free signal providers work:
You can turn them into 3 different groups:1 Scammers2 Affliate3 TradersThe first group will send you free signals for a short amount of time,
then contact you with the following statement 'if you want to continue using our services for the following month , it only will cost you XX dollars (mostly it will be a promotion price, just to drag you in a bit further).
Second thing these scammers do is not sending you trustworthy signalsI will simplify how it works.
To make it easy lets say a certain free signal has 10 followers/clientsWell 5 wil get a signal with a buy orderthe 5 others wil get a sell order at the same position as the buy orderIn short half of you will get a good signal,
the other half a bad. So in the long run, some followers will make money out of it when they get more good than bad signals, and start yelling that it actually works The ones getting more bad than good will tell its a complete scam. 
In fact both statements are kinda wrong. It's just completly random a solely based on luck. That is all.The second group:Affeliate: these are the once who have a partnership with a certain broker.
They will give you the signals for free, when you open an account with their partner broker so in fact , those signals aren't free at all, and as always, the broker still gets his commision fees on the trades you make.The third group :Consist of people who actually trade themselves. But still is not advicable to do so. Simply because those traders are in an other league speaking in terms of finance. it's thrustworthy tho , those traders but there reputation and credibility on the line. If they make a good trade, it'll be good for you too. But the problem here will be your bankroll. These pro traders wont work with a bankroll under 100k. You as a beginner will have several K , lets say 5kA loss of 1k is nothing for the pro, compared to the beginner it would be a devastating loss.when the trade was a win we get the same problem. Lets for example say the pro makes 2 k with his 100 000 BRthat equals 100 dollars with your 5 000 BRThere's a difference of 1900 in winnings while you took the same risk reward trade as the pro. All because of not being able to size your trade as the pro did.Conclusion Stay away from everything 'free signal' related. It's BS
 
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Geoffrey

Re: Trading on the financial Market?
« Reply #100 on: October 21, 2018, 02:27:33 PM »
I totally forget about that little issue. Thx for modifying.
 

scepticus

Re: Trading on the financial Market?
« Reply #101 on: October 21, 2018, 08:21:25 PM »
Some good points Sputnik .How do day traders make a living when Hedge Funds and Giant financial companies employ Very Smart people using the latest technolgy to make their profits. How do you create an Edge  against them ?

How is your trading in Bitcoins doing ?
« Last Edit: October 21, 2018, 08:31:26 PM by scepticus »
 
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Geoffrey

Re: Trading on the financial Market?
« Reply #102 on: October 21, 2018, 08:42:02 PM »
It is my post sceps, but something went wrong putting it here. Sputnik fixed it. :)
 

Geoffrey

Re: Trading on the financial Market?
« Reply #103 on: October 21, 2018, 10:03:08 PM »

Some good points Sputnik .How do day traders make a living when Hedge Funds and Giant financial companies employ Very Smart people using the latest technolgy to make their profits. How do you create an Edge  against them ?

How is your trading in Bitcoins doing ?

As bitcoin is not the field i'm operating in , i will not go into that deeply. It has advantages en disadvantages as everything else. To me personally it's a bubble that will burst sooner or later. When? Difficult to say. But nothing wrong with surfing on its wave as long as you do know what you are doing.  As promised, i'll get deeper into it in my book.

For now, anyone else is free that give more insightfull info.

About the hedge funds question.

Do they have an advantage? Yes in term off knowlegde, money, tech en analysis.
Do they have disadvantage? Yes, they have restrictions that retailers have not, and they are institutional investers, which means they dont trade their personal money, which could result in less focus, compared to the retailer.

Second part of my answer is how i look at it personally. I say this beforhand because i know not everybody will agree on this.
Here goes:

Stop seeing the market as a group of competitors. It's just a place where trades are done, and some are bigger than others. Focus on your own trades, and dont worry about anything else. In the end, hedge funds will make more money when they are right, but does that really matter? They only thing you should be concerned about is 'am i in profits or not'

And if there would be anything or anyone you should have an edge over, its over yourself and your own mind. You control that, you'll do just fine. What ever hedge funds does. Screw them, really not your concern.
« Last Edit: October 21, 2018, 10:05:19 PM by Geoffrey »
 

scepticus

Re: Trading on the financial Market?
« Reply #104 on: October 22, 2018, 12:16:18 AM »
You are writing a book Geoff ? Competing with Adam Khoo ?  ;D
Don't agree about Hedge Funds . These guys " Eat what They kill " and have  A MILLION PLUS take home pay.
I am not opposed to anyone doing their own thing but Trading is Gambling and  - like roulette - all too many think that they are easy ways of making money.
Agree about   Bitcoin . Sputnik and Mr P were looking into it.  It is an unregulated market so a case of " Buyer Beware " !

 
« Last Edit: October 22, 2018, 12:18:49 AM by scepticus »