Certainly, 100% of traders in Forex Factory are successful. People who lose are successful in getting what they want. People who win are successful in getting what they want. People who choose not to play are successful in getting what they want. If ...

Are there any successful Traders in Forex Factory?

What Mingary is suggesting is that the average Forex trader has an expectancy that is much worse than a 50/50 coin flip.

Reasons for being a loser master

Well Mingary, thats quite an indictment if true and it really shouldn't be surprising to anyone. Forex is a magnet for unsophisticated traders. Selecting markets to trade and planning the amount of exposure to undertake for each sector beforehand is ...

Reasons for being a loser master

What im really getting at is the vacuity of 'advice' when it comes to trading. The advice-giver could be a market wizard and still fail to effect any change because the advice-receiver is operating with a flaw system. The mechanism that makes a ...

What is the most important piece of advice you've received?

Its the other way round. That cycle of behaviour has been around for centuries and has been noticed in many great manias and financial bubbles. Ponzi schemes are just another relatively recent manifestation of the tendency to abandon reason while ...

trends are ponzi schemes

After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight! It is no trick at all to ...

Reasons for being a loser master

Mingary, I like you. You are hilarious, and I mean this in the best of ways. You are a hardliner who may just be completely right for the wrong reasons. I hesitate to use the analogy of the broken clock because you are right more than twice a day. ...

Reasons for being a loser master

I would extend it to 100% of FF. Losing traders are losing traders for a reason that extends far beyond the absence of 'good advice'. Losers select for advice that fits their already flawed mentality which forum gurus are more than happy to supply. ...

What is the most important piece of advice you've received?

Im confident that any directional strategy worth running (read: robust) could be presented to the world and still succeed. It is the nature of markets to make sure of this. Unprofitable phases and drawdowns are the inbuilt mechanisms that shake out ...

Diversified Trend Trading Approach

Enron is just a relatively recent New Haven. From Reminiscences: "Of Course, the classic example is the New Haven. Everybody knows today what only a few knew at the time. The stock sold at 255 in 1902 and was the premier railroad investment of New ...

Diversified Trend Trading Approach

I have always known the net winners of the speculative game to be systematic in their approach. Your post (and a perusal of these forums) has opened my eyes to the fact that the net losers are systematic as well in their losing. If people applied ...

I'm Broke :( :(

Thank you for responding in my defense when I would rather not even bother. I am being completely sincere when I say that Mackay's book provides an understanding behind the logic (or illogic) of markets. If you understand the implications then you ...

Can anyone recommend a book which explains trading logic?

Extraordinary Popular Delusions and the Madness of Crowds by Charles Mackay. Read the sections on the Mississippi Company, the South Sea Company and the Tulip Mania if you want an insight into speculative markets. Alternatively, read the sections ...

Can anyone recommend a book which explains trading logic?

Sorry for the long hibernation. The way I look at it, there is no alternative other than following trends. Not even non-participation. When a mania grips the world price will travel along the path of least resistance and the only prudent choice is ...

Diversified Trend Trading Approach

"You must read Market Wizards, its less than twenty dollars on Amazon."

What is the most important piece of advice you've received?

Schwager: What is the most prominent fallacy in the public's perception about markets? Tudor Jones: That markets can be manipulated. That there is some group on Wall Street that controls price action in the markets. I can go into any market and ...

How can such a huge market be manipulated?

Both Technical analysis and Fundamental analysis are equally unimportant. The type of analysis matters so far as it convinces the logical mind to: 1. Develop a plan for being net long in a bull market and net short in a bear market. 2. Stick to the ...

Technicals Vs. Fundamentals?

The best way to avoid market crashes and such situations is to stop trading.

How to avoid market crash?

I always aim for ∞:1 but thats just me.

1:1 Risk Reward Ratio

Thank you for sharing the article. This corroborates my understanding that any kind of speculative strategy is ultimately beholden to overall market direction and volatility. I am pleasantly surprised that the systematic index beats the Fundamental ...

Diversified Trend Trading Approach