Forex as a system... Who benefits? What internal rules exist in FX?

[faure]

Originally Posted by metal

If what you say was true, gambling would not exist.

I know of a lot of pro poker players. Must be luck huh?

[tommyfx]

To all the newbie traders that are worried their lack of profits in forex is due to unfair/skewed prices etc etc because of the fact there isn't a centralized exchange. I have been trying to explain why this is utter rubbish, and in actual fact a decentralized exchange actually breeds a fairer market place. Its a hard topic to explain but this article does a good job:


http://www.forextrading-directory.co...ng-online.html

Unfortunately for people starting out in trading there arent many experienced traders that actually come out of their trading rooms, its always been a bit of a secretive society, and these boards are great for newbies to discuss things with each other, but bear in mind comments on these boards can be biased towards certain views which are often expressed by people with no more experience/confidence in the market than a beginner (not everyone but a lot of people here) and the "moneytec" world is only a tiny aspect of the trading community, so i hope you guys can go out there and find answers for yourself and take things written on these boards with a pinch of salt, although having said that a lot of great information is posted. All the best

Tom

[TraderABC]

Originally Posted by tommyfx

To all the newbie traders that are worried their lack of profits in forex is due to unfair/skewed prices etc etc because of the fact there isn't a centralized exchange. I have been trying to explain why this is utter rubbish, and in actual fact a decentralized exchange actually breeds a fairer market place. Its a hard topic to explain but this article does a good job:

http://www.forextrading-directory.co...ng-online.html

Unfortunately for people starting out in trading there arent many experienced traders that actually come out of their trading rooms, its always been a bit of a secretive society, and these boards are great for newbies to discuss things with each other, but bear in mind comments on these boards can be biased towards certain views which are often expressed by people with no more experience/confidence in the market than a beginner (not everyone but a lot of people here) and the "moneytec" world is only a tiny aspect of the trading community, so i hope you guys can go out there and find answers for yourself and take things written on these boards with a pinch of salt, although having said that a lot of great information is posted. All the best

Tom

Tom, I have read the site (will read it again). But it seems that it just states things...

This discussion about "are the rates affected by our orders" could be solved very easily for those who have large accounts.

How to prove/disprove:
- Choose the most exotic (least volitile, smallest volume) currency pair. Maybe a Thailand Baht or something like that.

- choose the least volatile time. You and your pals enter in the same direction same time with large orders.

See if it has affected the rates. IF the rates are affected by our orders then your order should move the market (after which you would exit at a profit).

- Please post screenshots before and after.

That would be an awesome experiment to run...

[MacDFx]

Originally Posted by faure

It's good to see someone asking questions instead of believing everything that's touted as knowledge (although some of it may be true).

Trading is an unlimited sphere. There are no rules; all that matters is p&l. Why impose all these rules on yourself? Because it worked for someone does not mean it will work for you.

TABC, I seem to get the feeling that you think the market is unpredictable and random. The paradox here is that random events actually create patterns (don't take my word for it, check it for yourself). Some patterns and correlations are easier to see than others.

And do yourself a favour and forget about indicators aka price averages. The market can't be summed up in some quantifiable formulae. The answer is more abstract.

So, then - how, exactly, does one go about making order out of chaos?

And why forget about indicators? How else are we to make sense of the markets? Tea leaves, perhaps

[TraderABC]

Originally Posted by graemenash

If that were true [that brokers are the only ones who win], the market would not exist.

Perhaps it's time to re-assess your strategy!

You forget psychology! Greed and creative marketing from brokers attracts people to the Forex... Most later drop out (flush their accounts), and new people join the ranks again... The vicious cycle continues over and over again...
Some people last longer than others... Some may even WIN just long enough to create a good promotion for the trading...

[metal]

Originally Posted by faure

I know of a lot of pro poker players. Must be luck huh?

At least you admit that forex is gambling.

[tdion]

You all sound like babbling SOBs. Forex IS GAMBLING! Triple bottoms double tops triangles... it's all been fed to you. THERE IS NO TRUTH IN ANY OF IT!


WHY?


Because nobody knows the future. A chart pattern doesn't determine what the banks do next. You trade a head and shoulders and get burned.... so you think "I will get it next time. It was a fluke I lost." NOT TRUE! The banks are moving the market based on ECONOMICS not stupid technical analysis!

TA is a selling tool for people to make money off of you. You buy it because it makes logical sense... when in reality all you find are bumbling bafoons that babble on chat boards about how to use it. Not system is profitable.... ONLY LUCKY.

Think about it... every system has weakness.... you just have to get lucky that the chart formations match your trading rules. There is no skill. There is no e-book. Flip a coin and your chances are as good.

Metal good posting! Everyone else trade the bunny-girl cross and you might get LUCKY! LOL

PS) I do trade.... and when I have a nice trade I consider it luck. I've got a BS in Computer Science and working on a Masters in it. I know mathematical odds and I've studied Forex for 3 years. I worked extensively with two signal providers and found them to be ... well... as successful as everyone else trying to profit off the market.

PSS) 90% of traders lose money is a hoax. An old wives tail.... metal is right that the broker makes the money because he bets against you and most people are going to lose in the long run. Cheers and happy gambling!

Tom
SC

[tdion]

PSSS) The only person that can call themselves "an experienced trader" in my book is George Soros. You see, Soros has so much money he can actually manipulate the market. Please visit http://www.woopidoo.com/biography/ge...oros/index.htm and find articles of how is 2 billion dollar trade bankrupted the bank of England.

THAT is a professional LOL