From ForexFactory to myFXbook

Hi there folks!

I used to be a regular poster on FF but I just can't stand how they are running things over there anymore. The moderators are going nuts and removing your posts for no reason. I believe they gave too much power to some members (even moderator powers) and those narrow minded people are using their power to their own interest instead of the community interest.

I heard myFXbook is a better community to be a part of, and thats why they are growing and FF is declining.

Well I guess we will see so from now on I'm posting here.

I would like to start with a video. Nothing new but as the name suggest, it could well be the most important video you will ever see. if you can really get the concept explained you can apply it to trading, your life, end of the world and everything else.

Yep! I noticed that here is a little quiet Ben but anyways. FF is really busy but full of BS and at the end of the day 90% plus people there lose money. I'm not here to put up a show so if less people read my threads thats ok. thanks for stopping by.

Very funny how despite the 'crisis' , a bunch of companies are reporting very good earnings. Even AMD surprised the market with good numbers today. I'm pointing AMD because I have some shares of the company. More and more I get to the conclusion that we live in a matrix where the so called 'fundamentals' are more fiction than reality! thats why I stopped trading 'funnymentals' a while ago. I used to say that I was a 80% technical and 20% fundamental trader. Now I don't even know if 5% of what I see on the news influence my tradings. I really admire people that have the brains to decode what really matters out of so much blah blah blah out there.

TheOracle posted:
    Very funny how despite the 'crisis' , a bunch of companies are reporting very good earnings. Even AMD surprised the market with good numbers today. I'm pointing AMD because I have some shares of the company. More and more I get to the conclusion that we live in a matrix where the so called 'fundamentals' are more fiction than reality! thats why I stopped trading 'funnymentals' a while ago. I used to say that I was a 80% technical and 20% fundamental trader. Now I don't even know if 5% of what I see on the news influence my tradings. I really admire people that have the brains to decode what really matters out of so much blah blah blah out there.

This prompts me to attach a thought-provoking eBook (free from Elliott Wave International).
Goes through several 'myths' regarding fundamentals and the market.

Enjoy.

TheOracle posted:
    Yep! I noticed that here is a little quiet Ben but anyways. FF is really busy but full of BS and at the end of the day 90% plus people there lose money. I'm not here to put up a show so if less people read my threads thats ok. thanks for stopping by.

I agree with Ben about the blind leading the blind. As well as the blind leading the dumb. It is not uncommon to see someone who has traded a system on their DEMO account for ONE MONTH try to solicit their 'account management' services. 🙄 I also see a lot of EAs with XXXXX% gains and I just laugh. Completely unrealistic, yet some buy into them.

I use to admire karl Denninger ( the market ticker) and his take on the geopolitical events out there. I don't know how good of a trader he is but he definitely can talk fundamentals in a way that impresses me. The problem is that he has a opinion on everything and you can't be right all the time. He embarrassed himself trying to prove that the Obama birth certificate was false. I was one of the few that went against him on youtube because his arguments IMHO were BS.

Basically he deleted my posts without proving me wrong and stopped talking about the subject. I find it really silly when people can't deal with the fact that they are wrong and just shut peoples mouth by deleting their posts.

Anyways it tells me that if he was unable to accept the fact that he was wrong in this small issue, what about the big ones.

Lets say that since than I'm not going to his blog anymore. We all know that traders can't be married to their opinions.

Pay attention when the video gets around 3 minutes. I found the cote very important.

Welcome Oracle, glad to have ya on board :D

I'm a technical trader but let me try to explain how I see the fundamental Greek problem .

I believe Germany and France will keep playing the Greek card for their advantage for as long as they can. I will tell you why.

 Money works for a country just like shares works for a company. If Apple is doing great people will buy their shares making the price to go up. If a country is doing great their money will appreciate.

The problem with currency appreciation is that it ends up putting a cap on exports because the countries product starts to get to expensive outside their borders.

when your product gets too expensive you sell less, you make less money and you become to suffer financially. when a country starts to have financial problems their currency depreciate.

The good thing with currency depreciation is that it makes your products cheaper outside your borders. With a cheaper ( more competitive) product exports pick up, the country starts to make more money and the financial problems get resolved.

It does not take a genius to see that this appreciation/depreciation acts as a cap when the economy is flying too high and a cushion when the economy is depressed , and it is supposed to be a 'natural' cycle.

Now what we see in a united Europe is a distortion of this natural cycle, or should I say a 'attempt' to trick this cycle to the advantage of a few.

With a bunch of different countries in different levels of economies tied by the same currency you can blur the appreciation/depreciation effect allowing strong economies to keep 'their currency' artificialy down while in depressed economies 'their currency' stays artificialy up.

 More developed Countries ( Germany and France) will benefit in this kind of scenario while the less developed ones (PIIGS) will suffer.

Germany can see their export booming and still the euro will not skyrocket because countries like Greece will keep the currency in check.

Germany and France will throw some change at the countries in troubles ( bail outs) just to keep the scheme going, because they benefit enormously from it, and anyways the pocket change bail out they give will have to be re payed while they collect interest.

If the Euro was abolished today and all the old currencies got back, we would be able to see a big difference between the Drachma and the Deutsche Mark compared to the dollar. This percentage unbalance is hidden behind the euro currency but it shows very clearly on the pockets of the Greek, Portugal, Spain etc.

Thats why bail outs are in the best interest of France and especially Germany. they are not doing it out of philanthropy.

They will play the PIIGS as much as they can to keep the euro in a sweet spot for them.

  

Another video. Don't know about you guys but i like to know how institutional traders face their day. A young guy here working for Paribas. I wish I got started on Forex when I was his age.

I found this one here also interesting.

TheOracle posted:
    Another video. Don't know about you guys but i like to know how institutional traders face their day. A young guy here working for Paribas. I wish I got started on Forex when I was his age.

Interesting video, this is very encouraging to me. I started in stocks at 18 and evolved to Forex by age 19. I am close to 21 now and halfway through my Bachelors degree. I'm not sure whether I will go work for a firm one day or remain independent. Three weeks from now I will find out if my calculated end-of-year gain is still high in probability 😀

Splexin posted:
  
Interesting video, this is very encouraging to me. I started in stocks at 18 and evolved to Forex by age 19. I am close to 21 now and halfway through my Bachelors degree. I'm not sure whether I will go work for a firm one day or remain independent. Three weeks from now I will find out if my calculated end-of-year gain is still high in probability 😀

If i could go back to my twenties I would go work for institution till 28 or 30. During this period I would gather all the knowledge I could and save all the money I could. Than i would 'retire' meaning trading Forex 4 or 5 hours per day and spending the rest of my time doing what I like.

Amy Winehouse is dead. I guess people got shocked but not surprised by the news.

So what does it have to do with trading? Will the pound tank Monday because of this news?

Don't think so! I'm not even a big fan of this girl, but I could not avoid thinking about what makes somebody with fame and fortune to engage in a so destructive kind of behavior to the point of fatality.

She probably struggled with psychological problems like depression, mania, addiction, etc during her whole life, and it does explain partially my question, but, i still insist in believe that If I (just for once) had in my life a opportunity like this people had I would do something different with it.

When I look back in my life i see so few opportunities and the few i had, got messed up due to circumstances totally beyond my control. It feels like a slap on my face when I see people with such big opportunities ending up like that.

We all have problems, from Bill gates to the homeless sleeping under a bridge, we all suffer, in some way or another, thats part of being humans. Some people deal better than others with their daily dose of suffering and some people also take a better approach on the opportunities life present them.

i have decided that if life decides to cut me a break and I find myself doing good in this business ( day trading ) i will try really hard not to succumb to the frivolities of life but instead do something noble with my opportunity.

I've never been a big fan of cars anyways, so i don't see myself burning money in Ferraris. If i really break through as a trader and make the market I think I can make i will watch as carefully as I watch my trades so i don't wast the opportunity.

Look around and you will see how much help this world can use. We live in desperate times and any waste is unacceptable. Amy Winehouse was a big waste if you think about how much good she could have done.

She blew up her account here in this world because of poor opportunity management. My priority is not to make the same mistake, so help me God.

Old video, cracking sound, basic stuff, etc and etc. But you know what? He is telling about the truth here.

I can trace every loss i had (big or small) to the disregard of these simple principles. Again, this guy is right.

Obama is clearly using the budget to his own political benefit, and so are the republicans. It will be very interesting to see what will happens to the E/U as the politicians keep suspense in the air. Overall i believe that America already is naked in public, while Europe is trying to cover herself in rags. I think we are half way through our crises while the PIIGS are still in denial ( or on cover up mode) so we should emerge ahead of the Eurozone.

mr oracle,

several economies are now in the process of melting down.

there will be no recovery from this crisis..

better save your pennies.

z/..

I kinda agree with you Zero. this crisis could escalate and bring the end of the world with it. Lets see 😁