General Trading Chat
- Thread starter timepass
- Start date
- Tags idle thoughts trading talk only
You may be a successful trader so you can say so. But what about amateur or inexperienced traders, like many of us. We need some direction or prediction (you can say), the side market will/may move. Slowly slowly, we will also learn all these things. 
I can tell you the difference between Successful and Unsuccessful people in one line,
" When both falls some still somehow get up and continue while others don't even think of it; and that attitude makes the the whole difference. "
What I was saying is that there is no such thing as perfection when it comes to trading. Many times, we have seen that trading is not about perfection but rather about process and probability. The key to success is to develop a process or a plan that attempts to increase our probability of being right more often than wrong (because we will be wrong sometimes) and enhances the probability of making money more often than losing money (because we will lose money from time to time).
Looks like it's time to post something from Lance Beggs
'Every situation in the markets is unique. That's what makes it so hard to trade.
Your results will vary anywhere on the scale from consistent loser to consistent winner,dependent on:
Your ability to perceive the shifting forces of strength and weakness within the market,and place that within the context of higher timeframe structure, in order to identify the likely future direction of price action;
Your ability to identify areas of trade opportunity within that price action, and to time
entry and exit decisions in order to minimise risk and maximise profit potential; and
Your ability to trust yourself and your strategy, with sufficient confidence to allow you to take the entry and exit signals without hesitation.
All three of the above are a result of experience. They don‟t come from reading this book. They don‟t come from watching a video of me trade. They come as a result of getting in the market and trading; making mistakes, identifying them, learning from them, and improving. Learning to operate in the uncertain market environment, is a process (or journey) of gradual improvement.
So, why will most fail? Simply, because they won‟t last the journey! They‟ll quit before they make it.'
'Every situation in the markets is unique. That's what makes it so hard to trade.
Your results will vary anywhere on the scale from consistent loser to consistent winner,dependent on:
Your ability to perceive the shifting forces of strength and weakness within the market,and place that within the context of higher timeframe structure, in order to identify the likely future direction of price action;
Your ability to identify areas of trade opportunity within that price action, and to time
entry and exit decisions in order to minimise risk and maximise profit potential; and
Your ability to trust yourself and your strategy, with sufficient confidence to allow you to take the entry and exit signals without hesitation.
All three of the above are a result of experience. They don‟t come from reading this book. They don‟t come from watching a video of me trade. They come as a result of getting in the market and trading; making mistakes, identifying them, learning from them, and improving. Learning to operate in the uncertain market environment, is a process (or journey) of gradual improvement.
So, why will most fail? Simply, because they won‟t last the journey! They‟ll quit before they make it.'
Your signature are interesting . Any particular significance which you could share regarding the signature chosen.
You are right, my signature has some significance (also they keep changing), but you to decode it yourself
I think some of the readers must have already decoded it.
FYI, perhaps I may change my signature tomorrow.
Thanks, if you find my signature interesting
You are right, my signature has some significance (also they keep changing), but you to decode it yourself
I think some of the readers must have already decoded it.
FYI, perhaps I may change my signature tomorrow.
You are right, my signature has some significance (also they keep changing), but you to decode it yourself
I think some of the readers must have already decoded it.
FYI, perhaps I may change my signature tomorrow.
Hi
The SNB did very well know what they did and will do. The main problem they faced was: How can we keep the loss for us as SNB and the Swiss economy as small as possible when doing this step? This is what they care about and not if a broker will get bust or a trader will lose all his money.
The SNB is not obliged to communicate there strategy they follow on the Sfr to the public nor to any body else. At the momment they would leave this path, the really big speculants and even other NB, who will have this information first through insider connections, would jump into the game in seconds and speculated on ecact those informations.
In this case it would have meant that the Sfr. would have fallen even more compare to what it did so far. Why? Those big players do not love each others and they would have done everthing with all the power they have in there pockets to speculate against the Sfr. And here we talk about Billions and Billions in Sfr.
Just to name some numbers: The balance sheet total of the SNB is around 500 Billion Sfr. Compare to the Swiss National gross product and the population of Switzerland, this is three times as big as the US has. On the day the step was anounced, the SNB lost 100 Billion Sfr. in total.
Going just a thiny little step further and connect the topic of an even further falling Sfr on this day if the SNB would have announed it in advance:
This above posted means that the export companies over here would have made more loss in one day compare to what they face now, which is a 20% loss on there margins they calculate for there products. Every bill sent from them to any company in the EUR zone in Dec 2014 will now be paid with 20% less they charged.
-Here we could start a discussion about the detailed impact it has on national and international Swiss companies and there export.
-We could start a discussion what they will need and probably need to do and change in there strategies.
-We could start a discussion about the favore this step has done to the companies which do mainly live from import.
-We could start a discussion about how those Swiss companies were protected for the last 3.5 years through those behavior of the SNB to keep the Sfr. against the Euro on a clear level around 1.20.
-We could start a discussion about the tourist industry in Switzerland and the problems they face with those decission, include the tourist over here which now face a 20% increase on there budget they thought they want to spent in the country.
-We could start a discussion about the moment the SNB gave this fundamental decission out to the public.
-We could start a discussion what they may know in advance about what the EZB will give out to the world this week and we could start a discussion about why they this time where so clear to not let know any body what they plan (Here you would need to know what happen in the past when they decided to do the 1.20 step)
-We could start a discussion about what the the buyer of Swiss Goverment bonds face and other topics like what the step means to the Swiss people by itself, as we now can buy more with the Sfr. in the Eurozone.
But:
We do not need to discuss about the retailers and even other traders who lost money, probably a fortune on there speculation on this currencies or any other currcies, as even other currencies faced problems against the Sfr because of this decission. Why do we not need to discuss about this?
At the moment we open a trading account, if now for trading on currencies or what so ever products, we are forced to sing a paper in which CLEARLY every body will be informed through the "Risk discloser" what can be faced when trading plus the risk when doing so.
POINT OF VIEW AND THE REAL POINT IN THIS STORY IS: If a retail or even a pro trader does not know what he does and how much risk he takes in any of this trades, it is his fault and not the fault of the others. And in your post you only tell that it is the fault of the NB bankers, but not the fault of the one who took any trade and lost all because of wrong risk management and wrong strategies.
So here the trader is to blame and if he lost a job are all his money because of this, it is his fault. If brokers got bankrupt because of this event, it is there fault, as they know the risk the take by beeing a broker house and beeing in response for the business they provide through them to others.
The post may sounds a bit tough. Sorry about this. Still: I wish you a most nice Sunday evening and take care / Dan
The SNB did very well know what they did and will do. The main problem they faced was: How can we keep the loss for us as SNB and the Swiss economy as small as possible when doing this step? This is what they care about and not if a broker will get bust or a trader will lose all his money.
The SNB is not obliged to communicate there strategy they follow on the Sfr to the public nor to any body else. At the momment they would leave this path, the really big speculants and even other NB, who will have this information first through insider connections, would jump into the game in seconds and speculated on ecact those informations.
In this case it would have meant that the Sfr. would have fallen even more compare to what it did so far. Why? Those big players do not love each others and they would have done everthing with all the power they have in there pockets to speculate against the Sfr. And here we talk about Billions and Billions in Sfr.
Just to name some numbers: The balance sheet total of the SNB is around 500 Billion Sfr. Compare to the Swiss National gross product and the population of Switzerland, this is three times as big as the US has. On the day the step was anounced, the SNB lost 100 Billion Sfr. in total.
Going just a thiny little step further and connect the topic of an even further falling Sfr on this day if the SNB would have announed it in advance:
This above posted means that the export companies over here would have made more loss in one day compare to what they face now, which is a 20% loss on there margins they calculate for there products. Every bill sent from them to any company in the EUR zone in Dec 2014 will now be paid with 20% less they charged.
-Here we could start a discussion about the detailed impact it has on national and international Swiss companies and there export.
-We could start a discussion what they will need and probably need to do and change in there strategies.
-We could start a discussion about the favore this step has done to the companies which do mainly live from import.
-We could start a discussion about how those Swiss companies were protected for the last 3.5 years through those behavior of the SNB to keep the Sfr. against the Euro on a clear level around 1.20.
-We could start a discussion about the tourist industry in Switzerland and the problems they face with those decission, include the tourist over here which now face a 20% increase on there budget they thought they want to spent in the country.
-We could start a discussion about the moment the SNB gave this fundamental decission out to the public.
-We could start a discussion what they may know in advance about what the EZB will give out to the world this week and we could start a discussion about why they this time where so clear to not let know any body what they plan (Here you would need to know what happen in the past when they decided to do the 1.20 step)
-We could start a discussion about what the the buyer of Swiss Goverment bonds face and other topics like what the step means to the Swiss people by itself, as we now can buy more with the Sfr. in the Eurozone.
But:
We do not need to discuss about the retailers and even other traders who lost money, probably a fortune on there speculation on this currencies or any other currcies, as even other currencies faced problems against the Sfr because of this decission. Why do we not need to discuss about this?
At the moment we open a trading account, if now for trading on currencies or what so ever products, we are forced to sing a paper in which CLEARLY every body will be informed through the "Risk discloser" what can be faced when trading plus the risk when doing so.
POINT OF VIEW AND THE REAL POINT IN THIS STORY IS: If a retail or even a pro trader does not know what he does and how much risk he takes in any of this trades, it is his fault and not the fault of the others. And in your post you only tell that it is the fault of the NB bankers, but not the fault of the one who took any trade and lost all because of wrong risk management and wrong strategies.
So here the trader is to blame and if he lost a job are all his money because of this, it is his fault. If brokers got bankrupt because of this event, it is there fault, as they know the risk the take by beeing a broker house and beeing in response for the business they provide through them to others.
The post may sounds a bit tough. Sorry about this. Still: I wish you a most nice Sunday evening and take care / Dan
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