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Author Topic: Trading on the financial Market?  (Read 2973 times)

Geoffrey

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Re: Trading on the financial Market?
« Reply #60 on: March 11, 2017, 04:09:06 PM »
http://www.roulette30.com/2010/04/law-of-statistical-propensity.html [nofollow]

i think juice is revering to this.

that is why i wont say it aint possible. Because i tend to believe the wheel isn't 100% independent.

But it is true that trading is much more easy to read. Reliability in the market will always be higher when gaining expierence and skill than roulette.

I told this before. Roulette is designed to make you lose mathematically. when history of the market proves, that shares give a 6% profit over a periode of 100 years. This + simple fact that succesfull trading can be learned in less time consuming way roulette ever will be. On top af that roulette still is gambling, they way of succes still is highly dependend on luck.

with trading the market there is NO gambling involved (except binary options) it all comes down to knowledge.

Still even knowing so , i find roulette so exiting :)
« Last Edit: March 12, 2017, 02:17:09 AM by kav »
 
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juice

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Re: Trading on the financial Market?
« Reply #61 on: March 11, 2017, 04:22:50 PM »
 http://www.roulette30.com/2014/05/roulette-player-vs-math-professor-dialog.html [nofollow]

Actually, this one is the article I am referring to.
 
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Bayes

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Re: Trading on the financial Market?
« Reply #62 on: March 11, 2017, 04:36:40 PM »
It's a fun article to read, but Ellison (not Dr. Ellison BTW, he has no PhD) is completely wrong when he tries to argue that because events  generate stable statistics, this must therefore be proof of dependence between spins. What generates the stable statistics is the law of large numbers, and the stats only equalize when there is the symmetry involved in the setup.

I'm glad that Kav introduced the article by telling readers that it was a sales pitch for his book.  :)

BTW, I'm not saying that there can never be dependence between spins, just that Ellison hasn't made a good argument for it.
 
« Last Edit: March 11, 2017, 04:41:22 PM by Bayes »
 

ShadowBlue

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Re: Trading on the financial Market?
« Reply #63 on: March 11, 2017, 04:59:59 PM »
I find it easier to win at roulette than at Trading. Probably because I don't Trade !
Seriously, though, I am suspicious of claims that if you only did This-or That then you will profit.
Talk of the market showing a profit over  a certain lifespan is pretty meaningless IMO because it is a case of " looking in the rear view mirror ". Like roulette it  is a form of gambling as many who thought otherwise  found out.
Still, Good Luck in your  punting Guys .

It is a good thing that you are suspicious of claims. I say trading is a skill you can learn.

It has nothing to do with gambling.

i will post a 4-hour chart of GPY-JPY from this week. Pay close attention to the round numbers and midpoints.

Could you find a clear resistance area on this chart?. Is it easy to read this chart?
Did you find any proof that round numbers and midpoints created turning points of Support and Resistance in the market. The white lines are the trades a made this week on the pair.
« Last Edit: March 11, 2017, 05:01:31 PM by ShadowBlue »
 
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scepticus

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Re: Trading on the financial Market?
« Reply #64 on: March 11, 2017, 05:19:28 PM »
Thanks Geoff and SB.
To my mind you are gambling when you are not in  possession of all available information.
Not intended to be a criticism -  just a point of view that  is different from yours.
 
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juice

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Re: Trading on the financial Market?
« Reply #65 on: March 11, 2017, 08:29:12 PM »
Shadow, do you ever find yourself cost averaging your trades that do not payoff? It would seem that your triggers are very simple to spot and thus, must be plentiful. OR, do you cut and run on a bad trade? I know a guy that sets such a tight stop loss, that it blows my mind. Just curious.....   Thanks, juice
 

Geoffrey

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Re: Trading on the financial Market?
« Reply #66 on: March 11, 2017, 11:49:05 PM »
at scep: non taken. i dont mind you having a different point of view. In fact i like it, because it animates things. None of you have to take my word for it.
You are all free to believe what you want. I'm a sceptical mind myself, and i tend to take nothing for granted about stuff i read or hear.

To some degree we could say that life itself is one big gamble. Because its all about making choices and decission making, day in day out.

Do i take this job offer? will i move abroad? which girl i choose to be in a relationship with? the friends we allow in our lives, etc. it all about choises we make. And with each one we make , can turn out good or bad, so we gamble all our lives long, without notice. simple because we dont look at it this way.

Difference is, on how myself and SB look at it. we both see trading as something that can be learned. therefor is more about skill. That is why we dont look at trading as a form of gambling. As Sb has mentioned, as in roulette there are parterns. the advantage we have on market compared to roulette is that the patterns return more frequently, and are easily spotted. To translate that into roulette terms you could say that variance is turning our way, and we take advantage of that situation.

to be honest , i'm sure every responsable gambler who's emotional well balanced could become succesfull at trading if he/she puts his/her mind to it. you wont become good overnight, but you will get there if you really want to.

Anyway i'm not here to convince people. I started this topic , to see if there were other members who show interest. It aint directly related, but sure has similarities.

Second reason is because i know that there's a lot of crap about the subject on the net, and several books just talk nonsense.
that is why the idea has risen to write my own book about it, with youtube channel attached and educational program/ workshops. I know people only start believing when they see it with there own eyes.

But that will be a hell of a lot of work. And i still want to improve my own trading skill, (attending trading shool next year) before starting the youtube channel + educational program. I have started with the book for now. we'll see how long it 'll take.
 
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juice

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Re: Trading on the financial Market?
« Reply #67 on: March 12, 2017, 01:30:11 AM »
Good luck Geoffrey! I know you will do great things. I would love to read your book when it is complete.
 
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MrPerfect.

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Re: Trading on the financial Market?
« Reply #68 on: March 12, 2017, 12:52:05 PM »
 Geoffrey,  you did really good work with this tread. Alerting others of possibility to make money is great in general.
    Do you have any info about qualifying for a status of day trading in UK?  In USA it sims not so easy on the first year...
 
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Reyth

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Re: Trading on the financial Market?
« Reply #69 on: March 12, 2017, 02:26:40 PM »
Its so easy to day trade, you don't even need alot of money you can open an account and trade like the mini financials for like only 1K if you want.  Brokerages are just waiting for you to call.
 
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Jake007

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Re: Trading on the financial Market?
« Reply #70 on: March 13, 2017, 03:54:32 AM »
For the past 15 years I used ETrade. I was doing options and other stuff. They even had forex for a while. I always failed if I used margin. Even trading bitcoin I never did well trading on margin. I came to the conclusion to just stick to trading with the money I had and I instantly got better. About 6 months ago I moved over to the app called Robinhood. Im on Android but pretty sure they have iphone app too. There are no trading fees at all if you trade with the app. Saves my a lot of money!
 
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MrPerfect.

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Re: Trading on the financial Market?
« Reply #71 on: March 13, 2017, 09:13:35 AM »
What l would like to know is how it works from point of taxes.
   Do they send you a bill in the end of account year or is it qualified as gambling?
  I do not like surprises. ...
 
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ShadowBlue

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Re: Trading on the financial Market?
« Reply #72 on: March 13, 2017, 10:06:41 AM »
Hi Juice,

I have a stop loss of 30 pips and a profit target of 50 pips sometimes more then 50.

I make at least 150 pips a week.  And yes Price Action trading is very simple and effective.

And because i trade Crude Oil and GBP-JPY. I have a lot of good set ups that arise on a weekly basis. 
« Last Edit: March 13, 2017, 12:54:30 PM by ShadowBlue »
 
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ShadowBlue

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Re: Trading on the financial Market?
« Reply #73 on: March 13, 2017, 12:53:37 PM »
Hi Mr Perfect,

I totally agree with Reyht that it is easy to day trade. You can trade with 500 euro. I use an account with leverage. Taxes on trading income differs from country to country. For gambling  and sport betting we pay gambling taxes.

Here in Holland i have to pay 29% taxes for gambling...   But for forex i only have to pay 1.5 % interest taxes.   

In England gambling and trading income is tax free.

 
 
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Reyth

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Re: Trading on the financial Market?
« Reply #74 on: March 13, 2017, 04:07:08 PM »
The brokerages do not charge tax in the USA.  Income taxes are always your responsibility.