Is forex gambling?
Členom od Aug 30, 2013
325 príspevkov
May 06, 2014 at 06:52
kanon103 posted:I didn't say anything but you're assuming some know it all like yourself, you flop, don't ASSume anything and if you knew everything you must be a millionaire by now ...BUT off course your not because knowledge doesn't always equate to success! Look at Bob the flop and FXWORKS the JERX they are full of crap and haven't a cent between them and hence their existence on anywhere, especially that Bob the flop that pretends to be a mathematician. What a lame one who waste time by writing articles when his got limited education and knowledge. That's what happens when they are full time unemployed tools.forexpipcatcha posted:kanon103 posted:
its not gambling if you know what your doing, there are logic in there.
but casino... there is no skill and no logic and you WILL LOSE money. you may win some money in there but the longer you stay the bigger chance to lose money, and when that happens, loses usually bigger than wins. this is all about mathematics.
for example roulette
you think betting black and red is 50% 50% win chance? nope.... its not. because there is 0 and 00
and its not 47% either. its 5% to lose plus 50% to lose
so that 5% is how they makes money and run 24Hs
Why do you know anyone trading that thinks he doesn't know what he's doing? Just like yourself!
why do you think that they knows what they doing? your saying even newbies could make money? thats wonderful everyone gonna be rich.
Členom od Oct 24, 2013
268 príspevkov
May 06, 2014 at 08:15
(upravené May 06, 2014 at 08:18)
See.... Entertaining isn't it!!!! Forexdikmuncha you're priceless!!! Do you need another smack?? You went all weak at the knees last time and crawled away with some BS excuses. Up for the challenge yet you precious little child?
You can't spend open trades.
Členom od Aug 30, 2013
325 príspevkov
May 06, 2014 at 08:31
Silverthorn posted:
See.... Entertaining isn't it!!!! Forexdikmuncha you're priceless!!! Do you need another smack?? You went all weak at the knees last time and crawled away with some BS excuses. Up for the challenge yet you precious little child?
fukxworx did your daddy trade you in for a pet monkey? Is that how you lost your brains or was it when you were dropped at birth fool?
Your so stupid I can trade you at the exchange for some Euro's
Členom od Oct 24, 2013
268 príspevkov
May 06, 2014 at 08:51
Could be the easiest ten grand you'll ever make...... Not saying you're full of shyt. ....... Well yes I am.
You are an empty headed useless waste of time with nothing to show for your pathetic existence of any worth and you spend your time trying to regain your diminishing masculinity by throwing what little weight you have around on forums.
Your knowledge of trading would fill the back of a very small postage stamp and you have a vocabulary to match. You are lacking in skill, social etiquette, manners, common intelligence and any form of class. In short the fact that you continue to waste perfectly good oxygen by dragging it into your festering lungs is a crime against nature and humanity.
But above all else you are a coward.
You are an empty headed useless waste of time with nothing to show for your pathetic existence of any worth and you spend your time trying to regain your diminishing masculinity by throwing what little weight you have around on forums.
Your knowledge of trading would fill the back of a very small postage stamp and you have a vocabulary to match. You are lacking in skill, social etiquette, manners, common intelligence and any form of class. In short the fact that you continue to waste perfectly good oxygen by dragging it into your festering lungs is a crime against nature and humanity.
But above all else you are a coward.
You can't spend open trades.
Členom od Aug 30, 2013
325 príspevkov
May 06, 2014 at 09:00
(upravené May 06, 2014 at 09:03)
Silverthorn posted:
Could be the easiest ten grand you'll ever make...... Not saying you're full of shyt. ....... Well yes I am.
You are an empty headed useless waste of time with nothing to show for your pathetic existence of any worth and you spend your time trying to regain your diminishing masculinity by throwing what little weight you have around on forums.
Your knowledge of trading would fill the back of a very small postage stamp and you have a vocabulary to match. You are lacking in skill, social etiquette, manners, common intelligence and any form of class. In short the fact that you continue to waste perfectly good oxygen by dragging it into your festering lungs is a crime against nature and humanity.
But above all else you are a coward.
LOL @ you low life. Did you think I am as stupid as you? Because Lowie if you had money and lets face I t you don't hence why you're here looking and begging for systems you wouldn't be giving it away i.e your so easy to beat at anything Lowie. The thing is loser that not only you got no money but your mouth represents your stupidity with a single digit I.Q.
So what I suggest is you look for someone of your kind... i.e a monkey with no brains.
I'm immuned to low lifes like you lol I only play my games not losers games where they play with something they cant afford nor have
Členom od Oct 24, 2013
268 príspevkov
May 06, 2014 at 09:17
Well said. Very eloquent. But do you honestly believe that everybody that ever reads this thread won't realise that you are just running scared like a little child? I think it's very obvious that you've been called out again and once again you just wet your pants. LOL!!
You can't spend open trades.
Členom od Aug 30, 2013
325 príspevkov
May 06, 2014 at 09:29
Silverthorn posted:
Well said. Very eloquent. But do you honestly believe that everybody that ever reads this thread won't realise that you are just running scared like a little child? I think it's very obvious that you've been called out again and once again you just wet your pants. LOL!!
You're so stupid it's like talking to a worm. I don't care what people think nor what think nor doo fool. I will always do what I think is best no matter what you, your stupid daddy or mummy say and if you don't like it go cry to your parent since they might care lol
Členom od Oct 24, 2013
268 príspevkov
May 06, 2014 at 09:48
Ok Funs over. Thanks for the entertainment. Got better things to do. See you next time.
You can't spend open trades.
Členom od Aug 30, 2013
325 príspevkov
May 06, 2014 at 09:59
LOL @ ya loser go back to your dumb hole and cry
Členom od Oct 12, 2012
70 príspevkov
May 06, 2014 at 21:53
ForexAssistant posted:Ironman posted:
Bob Llewellyn:
So, the Pegasus isn't doing too great, is it? https://www.myfxbook.com/members/ForexAssistant/pegasus/670938
This is what it looks like when the Martingale busts... as it always does at one time or another.
Perhaps remove it? As the other one was removed... bet it bust too.
No, Pegasus is doing fine but it has been changed. I've added an aggressive option that I am checking out. You just don't understand what you are seeing and like every egotist here, you make an accusation instead of first asking questions to understand. I want a program that will give the equivalent of one profit for each trade regardless when the profit is made.
A recovery program that is a little above your pay scale called a Fibonacci recovery algorithm has been doing very well but there is a secondary recovery system that kicks in so the primary recovery system doesn't get too high. I need to see how this new algorithm will work and I want to check it out when the system is in recovery mode. So with a lot of effort, I finally got it into recovery so I can see if a double loss is too great for the system, 2 recovery time with the new aggressive component and third, the new aggressive component itself. However, just for the record, the thing is still not for sale.
The other system that was closed was my first attempt at making one profit for every trade, it worked but since the Fibonacci grows at a much slower rate, I figured out how to do it with that system. I project the recovery to completely recover all the losses by the end of the year plus still make all of it normal profits. That's what research is about. The patience of Job. You only want to talk about my research programs that I am still working on, why is that, what about the other two that is for sale?
Bob
Sorry, I thought the pegasus was for sale... It looked like it on your website.
Why would Fibonacci be above my pay scale? I've studied the roulette for quite a while, and found two things 1) the can't be beat mathematically, but 2) they can be beaten.
Fibonacci is just another version of Martingale. I could rack up hundreds of progressive betting variants, with a lot of names.
Tell me your hit-rate on a 1:1 basis, and I'll tell you if your progressive betting has a chance of succeeding.
Hell, I'll even show you how to bet if you want a progressive betting system. (Depending on your hitratio of course.)
Cheers dude!
Členom od Jun 28, 2011
465 príspevkov
May 07, 2014 at 04:57
'Tell me your hit-rate on a 1:1 basis, and I'll tell you if your progressive betting has a chance of succeeding.'
So could I, but there in lies the problem. As you know a straight martingale recovers all the losses with the same number of pips to the good as is taken for the loss. With the Fibonacci you start out the same size but over 9 or 10 consecutive losses the recovery size is 1.62 the stop loss. Example if we set the stop losses to 10 pips then the first two trades will fully recover the losses within 10 pips but the 3rd trade will require 13.4 and continues to grow larger until it hits 16.2 pips to recover all losses plus give us one profit for the series.
But now if we want to make it so we get paid one profit for each trade, then we have to leave each trade open for 2 times the stop-loss, or 20 pips in our example. Since the profit side is larger than the stop-loss side, you would expect to get more stop out than wins. Of course a straight martingale will be profitable with any win ratio above 50 percent, but with being heavy to the win side, I am having a tough time coming up with a decision maker (buy/sell) that is as consistent as my other programs.
I make automated programs for investors and retirees, the returns are too small for anyone here to be interested in, but safety is the ultimate key factor for my programs. If I can't get the win/loss ratio up to my satisfaction, I may never release it. But I am confident in my abilities, I just need some more time.
And as far as a Fibonacci recovery being beyond your pay-grade (experience level) it's not, I was just word jockeying like everyone else does on here, I'm just not very good at it.
Bob
So could I, but there in lies the problem. As you know a straight martingale recovers all the losses with the same number of pips to the good as is taken for the loss. With the Fibonacci you start out the same size but over 9 or 10 consecutive losses the recovery size is 1.62 the stop loss. Example if we set the stop losses to 10 pips then the first two trades will fully recover the losses within 10 pips but the 3rd trade will require 13.4 and continues to grow larger until it hits 16.2 pips to recover all losses plus give us one profit for the series.
But now if we want to make it so we get paid one profit for each trade, then we have to leave each trade open for 2 times the stop-loss, or 20 pips in our example. Since the profit side is larger than the stop-loss side, you would expect to get more stop out than wins. Of course a straight martingale will be profitable with any win ratio above 50 percent, but with being heavy to the win side, I am having a tough time coming up with a decision maker (buy/sell) that is as consistent as my other programs.
I make automated programs for investors and retirees, the returns are too small for anyone here to be interested in, but safety is the ultimate key factor for my programs. If I can't get the win/loss ratio up to my satisfaction, I may never release it. But I am confident in my abilities, I just need some more time.
And as far as a Fibonacci recovery being beyond your pay-grade (experience level) it's not, I was just word jockeying like everyone else does on here, I'm just not very good at it.
Bob
where research touches lives.
Členom od Oct 11, 2013
775 príspevkov
May 07, 2014 at 05:30
Only 10% of traders are trading professionally and treating it like a real business. The rest are just gamblers, trying to predict the future, reallying on other things, but on real statistical data to base their decisions on.
Členom od Aug 30, 2013
325 príspevkov
May 07, 2014 at 05:45
Those numbers aren't even close UNLESS you have zero slippage and zero spreads. But good try and you almost passed your maths test lol.
Členom od Aug 30, 2013
325 príspevkov
May 07, 2014 at 05:47
(upravené May 07, 2014 at 05:48)
alexforex007 posted:
Only 10% of traders are trading professionally and treating it like a real business. The rest are just gamblers, trying to predict the future, reallying on other things, but on real statistical data to base their decisions on.
not even close... try 1 - 2 % at most. Perhaps you meant 10% think they trade professionally but they aren't making a living from trading but only from scamming lol, and not a good living i.e scamming either!
Členom od Apr 27, 2010
47 príspevkov
May 07, 2014 at 06:46
Hello friends , I used to think like that also before until i tried a few expensive software then my eyes became open to the reality about forex trading and how its should be traded.
COMMON MISTAKES MOST TRADERS MAKE IS , 3: 1 RISK TO REWARD RATIO , IT SHOULD BE 1: 3 RISK TO REWARD RATIO
RISK MANAGEMENT IS PHYSIOLOGICAL, BUT YOU ARE SCARED OF TAKING LOSSES AND CUTTING YOUR PROFITS EARLY.
PROPER RISK MANAGEMENT HELP YOU TO EARN MORE IN THE LONG RUN,BECAUSE IF YOU RISK LESS ,YOU WILL EARN MORE IN THE LONG RUN.
FOLLOW THIS SIMPLE RULE
DIAMOND FX STRATEGY
EQUITY : 1,000 USD
RISK: 1% OF EQUITY (1,000) = 0.01 LOT
RISK MANAGEMENT: TP / SL
STRATEGY: LONG TERM
STICK TO THIS CURRENCY PAIR: EUR/USD , GBP/USD , EUR/JPY , GBP/JPY , GBP/CHF , AUD/USD
Price consist of at least 80% Technical and 20% of Fundamental . So analysis on Technical will right only if you are able to analyse properly.
Determine the long term trend then trade in the direction of the trend, stay on it till you get maximum pips. (e.g We make as much as 300 pips because we hold on to trend but that might take 1 month in some cases. )
Look at 4hrs, Daily , Weekly price chart for analysis then enter on the Small time frame 15mins, 30mins ,1 hr.
The most common mistake of all is our Emotion and inability to follow rules.
I hope my contribution will help some of you who think Forex trading is not profitable.
Feel free to write me here or talk on skype and check out our account for the year, Its traded on a Multi terminal so you can plug your account to ours for a fee .
Regards,
Femi Shitu.
Diamond FX Group.
COMMON MISTAKES MOST TRADERS MAKE IS , 3: 1 RISK TO REWARD RATIO , IT SHOULD BE 1: 3 RISK TO REWARD RATIO
RISK MANAGEMENT IS PHYSIOLOGICAL, BUT YOU ARE SCARED OF TAKING LOSSES AND CUTTING YOUR PROFITS EARLY.
PROPER RISK MANAGEMENT HELP YOU TO EARN MORE IN THE LONG RUN,BECAUSE IF YOU RISK LESS ,YOU WILL EARN MORE IN THE LONG RUN.
FOLLOW THIS SIMPLE RULE
DIAMOND FX STRATEGY
EQUITY : 1,000 USD
RISK: 1% OF EQUITY (1,000) = 0.01 LOT
RISK MANAGEMENT: TP / SL
STRATEGY: LONG TERM
STICK TO THIS CURRENCY PAIR: EUR/USD , GBP/USD , EUR/JPY , GBP/JPY , GBP/CHF , AUD/USD
Price consist of at least 80% Technical and 20% of Fundamental . So analysis on Technical will right only if you are able to analyse properly.
Determine the long term trend then trade in the direction of the trend, stay on it till you get maximum pips. (e.g We make as much as 300 pips because we hold on to trend but that might take 1 month in some cases. )
Look at 4hrs, Daily , Weekly price chart for analysis then enter on the Small time frame 15mins, 30mins ,1 hr.
The most common mistake of all is our Emotion and inability to follow rules.
I hope my contribution will help some of you who think Forex trading is not profitable.
Feel free to write me here or talk on skype and check out our account for the year, Its traded on a Multi terminal so you can plug your account to ours for a fee .
Regards,
Femi Shitu.
Diamond FX Group.
Building a profitable portfolio for our clients worldwide.
Členom od Oct 12, 2012
70 príspevkov
May 07, 2014 at 23:14
Femi:
So, you made a big announcement with the Diamond2012... How come it is not available to see? How come the two accounts you're showing are Demo?
C'mon. Be serious if you're having a business.
Cheers,
Tomas
So, you made a big announcement with the Diamond2012... How come it is not available to see? How come the two accounts you're showing are Demo?
C'mon. Be serious if you're having a business.
Cheers,
Tomas
Členom od Jun 07, 2011
372 príspevkov
May 09, 2014 at 21:49
FxMasterGuru posted:
Even the cavemen traded in the caverns...! Mammuth teeth for stone hammer...
So trading might be the oldest activities (professions) of the world, except for another one (which I don't want to name).
Anyway, trading is essential and inherent part of mankind and its history. What is more interesting that nowdays we are selling and buying 'futures' and 'options', which are really weird creatures of the commodity trading world as what is traded with options does not even exist.
Bottom line: risk is also an inherent part of trading, so you can call it gambling, but I prefer to call it 'smart' gambling. For example, if you see a large hurricane on the weather forecast approching a country housing large cocoa fields, then you are smart if you buy cocoa, as the price will go up almost for sure. Well, you still gamble, but smartly.
Good point! Congrats!
Členom od Apr 27, 2010
47 príspevkov
May 11, 2014 at 09:52
Yes friends, I manually trade the the two accounts am showing , they are verified and also applicable to live account.
The first account is on Leverage 1:100 with 10,000 eur account , its recorded ( +1553.0 ) Pips in 41 trades.
The second account is on Leverage 1:400 with 10,000 usd account, Its recorded ( + 2486.0 Pips ) Pips in 156 trades..
To tell you more our trading strategy is strict to follow the market as we are able to identify price action then we apply our trend and counter trend or ranging market strategy, we have a win rate of 80% on all trades with just 1% of equity used per trade.
Risk of ruin 10%-100% = <0.01%
Success rate of 80% on all trades (e.i Out of 200 trades , 160 will end in profit and 40 loss with same lot size ).
All price entries on Demo or Live are the same, you only need to stick to using same lot size (1% of your account) and entering at the right price .
(E.g We bought 0.1 lot GBPUSD @ 1.64980 and closed it 1.67950 , Recording 297 pips in 20 days ) etc
We have captured the following amount of pips this year !
Currency Trades Pips
AUDUSD 33 531.0
EURJPY 14 40.0
EURUSD 21 621.0
GBPCHF 11 85.0
GBPJPY 11 30.0
GBPUSD 20 901.0
Trend Trend + Multi time Frame Analysis + Money management = Profit
Keep it simple guys , apply our profitable strategy , it will be all you need.
Regards,
Femi Shitu.
Diamond FX Group.
The first account is on Leverage 1:100 with 10,000 eur account , its recorded ( +1553.0 ) Pips in 41 trades.
The second account is on Leverage 1:400 with 10,000 usd account, Its recorded ( + 2486.0 Pips ) Pips in 156 trades..
To tell you more our trading strategy is strict to follow the market as we are able to identify price action then we apply our trend and counter trend or ranging market strategy, we have a win rate of 80% on all trades with just 1% of equity used per trade.
Risk of ruin 10%-100% = <0.01%
Success rate of 80% on all trades (e.i Out of 200 trades , 160 will end in profit and 40 loss with same lot size ).
All price entries on Demo or Live are the same, you only need to stick to using same lot size (1% of your account) and entering at the right price .
(E.g We bought 0.1 lot GBPUSD @ 1.64980 and closed it 1.67950 , Recording 297 pips in 20 days ) etc
We have captured the following amount of pips this year !
Currency Trades Pips
AUDUSD 33 531.0
EURJPY 14 40.0
EURUSD 21 621.0
GBPCHF 11 85.0
GBPJPY 11 30.0
GBPUSD 20 901.0
Trend Trend + Multi time Frame Analysis + Money management = Profit
Keep it simple guys , apply our profitable strategy , it will be all you need.
Regards,
Femi Shitu.
Diamond FX Group.
Building a profitable portfolio for our clients worldwide.
Členom od Oct 12, 2012
70 príspevkov
May 11, 2014 at 15:26
So, what happened to the LIVE DiamondFX2012?
Crash and burn?
Crash and burn?
Členom od Apr 27, 2010
47 príspevkov
May 12, 2014 at 06:45
After making withdrawals from the account we took it off myfxbook .
@Ironman
The strategy we employ is low risk 1% of our account per trade so you cannot expect to burn out or have any losing month.
Do the simple arithmetic yourself .
Regards,
Femi Shitu.
Diamond FX Group.
@Ironman
The strategy we employ is low risk 1% of our account per trade so you cannot expect to burn out or have any losing month.
Do the simple arithmetic yourself .
Regards,
Femi Shitu.
Diamond FX Group.
Building a profitable portfolio for our clients worldwide.
