Help for new traders - Focussing on Now Part 1

Learn sports betting strategies and discuss key factors to consider when placing a bet.
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ShaunWhite
Posts: 9731
Joined: Sat Sep 03, 2016 3:42 am

With financials it pays to look at the returns institutional investors make before taking the plunge. Offices full of some of the keenest minds on the planet and every technical assistance under the sun, and if they make 10% a year it's been a good one. 20% and the FM gets their name over the door. I once read you need a bank of between 1/2 and a million to make a living off it and that sounds optimistic to me.
Archery1969
Posts: 3193
Joined: Thu Oct 24, 2019 8:25 am
Location: Newport

Between 1980 and 2009 it was fairly easy to make money trading the JPY pairs in Forex every day.

Why ?

If the JPY pairs became overbought / oversold prior to Tokyo open then the Japan bank would intervene to temporarily reverse during and just before their officially trading hours finished. It was really like taking money of a child.

However, something happened from 2010 onwards whereby their main bank stopped interventions during and before market close.

We would either sell or buy all the JPY pairs each day around 9.00pm UK time, goto bed and wake upto to some large returns over a consistent period. The only times it failed to work is if the following day was a public holiday or earth quake hit the region.

You will find the intervention paper on-line if you google/search for it. It was basically riding the wave up/down as the Japan banks traders unleashed their buying/selling power on behalf of the government. I was averaging around GBP 700 to 900 per day for basically doing fcuk all.

Unfortunately it all came to an end but doing it for 12 years was a good knock!!!

Here it is, hope its ok to post here: https://www.boj.or.jp/en/intl_finance/o ... ainyu.htm/

Someone in our Forex group read it several times and came up with 2 strategies for the rest of us to run in MT4. Dead simple compared to this sports trading stuff. :lol:
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Derek27
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Joined: Wed Aug 30, 2017 11:44 am
Location: UK

ShaunWhite wrote:
Thu Nov 28, 2019 5:22 pm
GodInyou wrote:
Thu Nov 28, 2019 4:50 pm
have you ever tried CFD trading?
Biggest issue with financials is the size of the bank you need, and getting used to factoring in transaction fees. And just like sports markets the combat is mano-a-mano and you're in the ring with the big boys, there's easier pickings elsewhere imo unless you want to be doing 6 & 7 figure trades.
God moves in mysterious ways. When I click on the link I get messages that the quoted post and the user doesn't exist!
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BFTb2b
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Joined: Wed Sep 09, 2020 10:43 am

Thanks for the nice post!
b4freddo
Posts: 3
Joined: Sat Apr 22, 2017 12:06 am

Iron wrote:
Thu Sep 05, 2013 7:13 pm
A financials trader I know recently wrote the following in a forum:

'How to test if a system of trading is right? Just check if at the end of any trade you end up hoping and expecting. When the factor of hope is totally eliminated from your system and mind, then you have truly arrived.'

Jeff
kelpie wrote:you have your approach, an edge it has to be if you are sustainable, and you end up doing the same clerical and bureaucractic tasks again and again. And the more clerical it is the calmer you should be.

" When the factor of hope is totally eliminated from your system and mind, then you have truly arrived.'"
i bought a 12 month subscription 24/06/21, then proceeded to lose my entire bank the same day. Its a lesson. just searching the forum when i came across the quote above, which is just logical to my thought pattern. So am just asking a question as to whether there are members that are using a strategy or strategies that are completely controlled by the software?
As an example, i lost my bank because i bet on favourites when i see that 7 favourites have lost in sequence. It took until the twelfth one before the favourite won, but i didn't have the money i needed left to stake to recoup the losses, so i staked the balance, it won, so i put the lot on the next favourite. Poof, all gone .
This brings me to the crux of the need to eliminate hope. what i did notice was that during the race there were greening opportunities flashing past that i had no idea of how to take advantage of. If i could programme the angel to take advantage of these, i would have no need for hope so i would know that i have truly arrived. Anyway nice to be associated with you all and any insight is a positive. I know how to laugh at myself also, but in the end i'm searching for that 'arrival' point.
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mcgoo
Posts: 898
Joined: Thu Jul 18, 2013 12:30 pm

After more than 10 years of trying (sometimes on and off sometimes years consistently) I have realised I don't have the makings of a trader-mathematically, psychologically or via coding (slow learner huh :lol: ). I have had bespoke systems developed & I have tried 4 different software types (GT ,MF, BFExp &BA), doing the manual thing. I have learnt a lot about myself and changed a lot mentally for the positive, so few regrets. My big fight over the last 8 months with stage 4 cancer is quite similar to trading actually..life is uncertain, you have to live in the now, you take risks but have to know when to foldem and run for the hospital :D , you appreciate the good happenings and try not to focus on the negative, life is a mystery and will likely always be so, cancer treatments vary greatly and one size does definitely not fit all, this life is not for sissies ;) ..etc etc
I like tinkering so I have slowly learnt some python while on chemo and this has been quite fun . I like the flashing lights of trading :D as well so I will watch markets when I can but I am calmer now and not obsessed ;) Trading is one of the hardest things I have ever attempted. I am disappointed that I failed but it only cost be about 3k per annum so not bad for a hobby the delivers so much in terms of growth. I never did get where value lay, if it is better to hedge or not and I could never really predict a swing in any direction, but guess that is one of those things.
I have been thinking about this for a month or 2 now and saw this thread which triggered a written response I guess, so I'll take this opportunity to say thank you for the help over the years and all the best to you and yours.I'll be finding out how my new treatment is looking next week so I might be hovering around in the background watching the forum from time time(old habits and all that) if it is good news or not be here if it isn't :D
Take care peeps.Its been fun
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Black Ladder
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Bravo mcgoo, your a good sport, and I wish you good health & happiness going forward.
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Realrocknrolla
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Joined: Fri Jun 05, 2020 7:15 pm

Great post.

All the best and sending healing thoughts.
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decomez6
Posts: 651
Joined: Mon Oct 07, 2019 5:26 pm

mcgoo wrote:
Fri Jun 25, 2021 6:18 am
.Its been fun
you cracked it without realising it. you get the satisfaction of acquiring some of the skills needed to deal with whatever life throws at you .
wish you a steady recovery .Stay smiling and stay strong MCgoo.
you are the real defination of a trading warrior.
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wearthefoxhat
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Joined: Sun Feb 18, 2018 9:55 am

Luv your post and contribution(s) McGoo.

The battle is sometimes about an Ego versus the Market. If the market behaves/co-operates, all is good in the world, the test is when the market says...F%&$K you pal...that's when the examination of the personality/pysche/ability occurs.

You're showing great character after 10 years of effort and attrition against the markets as you are with the stage 4 cancer and chemo.
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jimibt
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Joined: Mon Nov 30, 2015 6:42 pm
Location: Narnia

mcgoo - good reflective post and one that i can concur with on many levels. i too am living with early stage (prostate) cancer and have been very lucky to have been able to identify it early. I am on what's called 'active surveillance' (obviously a name chosen to make you feel *special* - lol). this basically means that my PSA levels are checked every 12 weeks to ensure that there are no crazy spikes at play. if when the times comes, there will be a range of options to *choose* from, all depending on any other mitigating factors.

I'll be honest with you, when 1st diagnosed (about 18 months ago), I felt a bit sorry for myself, but then pulled myself together and have accepted that positivity and taking specialist advice is the way fwd. i would recommend all us guys that are > 50 to get your doc to do a check (they will initially do a DRE [look it up] :D).

anyway mcgoo -back to you. well done for keeping positive and light. i'd see the past 10 years as a nice way to have gained some skills and at the same time, connected with some decent individuals found on this forum. as they say here in (sometimes) sunny scotland - *lang may yer lum reek*
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decomez6
Posts: 651
Joined: Mon Oct 07, 2019 5:26 pm

jimibt wrote:
Fri Jun 25, 2021 10:43 am
. i would recommend all us guys that are > 50 to get your doc to do a check (they will initially do a DRE [look it up] :D).

a(sometimes) sunny scotland - *lang may yer lum reek*
Dr. DRE
,” let me hear u say!
“ding , ding -doong…..ding di-di-…dingdingdong🎶

After wrapping up his beats 🎧 earphones, he is now ringing bells in the check up departments.

Jim ,
Your courage to go for that test says a lot about you , I am not going !!
My Gp recommended it at the same time my miss got her breast cancer check ups . I am keeping myself bussy enough to forget it and pretend I never heard of it and now you got me thinking.
Keep the positive spirit , endorphins medicinal indeed.

All the best and stay well .
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gazuty
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Location: Green land :)

Good on you McGoo. Hope you beat that bastard cancer.
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jimibt
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Joined: Mon Nov 30, 2015 6:42 pm
Location: Narnia

decomez6 wrote:
Fri Jun 25, 2021 12:06 pm
jimibt wrote:
Fri Jun 25, 2021 10:43 am
. i would recommend all us guys that are > 50 to get your doc to do a check (they will initially do a DRE [look it up] :D).

a(sometimes) sunny scotland - *lang may yer lum reek*
Dr. DRE
,” let me hear u say!
“ding , ding -doong…..ding di-di-…dingdingdong🎶

After wrapping up his beats 🎧 earphones, he is now ringing bells in the check up departments.

Jim ,
Your courage to go for that test says a lot about you , I am not going !!
the DRE is nothing to worry about, as my doctor ACTUALLY said (in a belfast accent), "some people do this for pleasure..." - great bedside manner :)

the one thing that did concern me tho', was when i then went later for the prostate biopsy. you literally get injected in the anus (to numb you a little :o ) and then a hand held device is inserted into your *back passage*. this device has a little retractable bee sting type needle hook that is triggered by the operator. you typically have about 16-20 samples taken. it sounds scary, but is actually fairly painless and results in having a treatment pathway designed for you, based on the grade found.

this is nothing compared to the alternative scenario that mcgoo must be experiencing - so ponder less ;)

yup -i know how to sell it -lol
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decomez6
Posts: 651
Joined: Mon Oct 07, 2019 5:26 pm

jimibt wrote:
Fri Jun 25, 2021 12:25 pm
decomez6 wrote:
Fri Jun 25, 2021 12:06 pm
jimibt wrote:
Fri Jun 25, 2021 10:43 am
. you literally get injected in the anus (to numb you a little :o ) and then a hand held device is inserted into your *back passage*. this device has a little retractable bee sting type needle hook that is triggered by the operator. you typically have about 16-20 samples taken
Definitely not going !! :? 🏃🏽‍♂️🏃🏽‍♂️💨

Nothing goes up !!
It’s one way down 👇
my virginity stays putt !! :D
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