Where to start? - page 4
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not necessarily, there can be more than one.
perepel:
For example 10 dudes send 10 identical bids to the broker at the same time, and there is only 1 best bid in response and the rest are worse, who gets it?
In Forex it's not like in the stock markets. The orders will be executed in any case, even if there is no response - liquidity, as well as credit (leverage) is provided by the bank(s).
best price is a play on words, because in relation to something, if you look north, it is better and if you look south, it is worse.
I have already traded in the past few days. In other words, I trade at Forex Club and I can open a position at Alpari? In other words, several brokers are united and push each other's clients, this is what I am interested in, what is the scale of such unions? Is it 2 local brokers or is it all the DCs and banks in the world? And of course what is the reason? Why would a particular broker want to share clients and take requests outside? In Wikepedia there is a hint that brokerage commissions are even lower than interbank, it means there is no sense at all for broker to take clients' money to interbank, they won't work at a loss))
I do not know yet how the stock exchanges work, I am just imagining, by analogy with a big bazaar, I want to understand the specifics. If there is any sense in the unifying concept of "the Forex market", if it is a pile of markets with different rules and different in general. If this is the case, then you need to understand the specifics of the individual elements, choose the appropriate one, understand how to make a profit theoretically.
As for the "kitchen ... kitchen", you have to understand it too, because only losers shout, even if they are in the majority, or there are no losers among clients.
I will gladly embark on an adventure to pit myself against the best, but only if the 'best' are there at all, not all set up and no one to compete with. I know about such cases as I have dealt with this kind of business structures, I have nothing against it, I just want to understand it.
Do you mean that I trade through Forex Club, for example, and send a request to be executed at Alpari?
Объём одного межбанковского контракта с реальной поставкой валюты на второй рабочий день (рынок спот) обычно составляет около 5 млн. долларов СШАили их эквивалент. Стоимость одного конвертационного платежа составляет от 60 до 300 долларов. Кроме этого, приходится нести затраты до 6 тыс. долларов в месяц на межбанковский информационно-торговый терминал. Из-за этих условий, на Форексе не проводят конвертаций небольших сумм.
Wikipedia.
5 million is 50 "lots", (60+300)\2=180 (average commission), 180\50 = 3.6 dollars per lot of turnover, it is so between banks as I understand, but the "step" is 5. The discreteness of such a step is too high, although it's relative, you can hardly "pipsize" with such volume. But I don't know, maybe banks do it this fast, oh, how much profit they make if they guessed the market...
What do you mean by "costs up to 6 thousand dollars a month for interbank information and trading terminal"? Is this "terminal" provided as a service by some government agency or is it so expensive to amortize? What's the gimmick, what's the 6 grand?
And just to make everyone laugh)))) Can I use MT5 with sufficient capital to trade directly with banks, i.e. "I am any bank", with such volumes, without any intermediaries? Or should I legally become a bank or a brokerage company to begin with, while MT5 is only for trading inside the brokerage company?
One of the most important details, especially at the initial stage, is the ability to invest as much money as necessary in a deal.
The lion's share of newcomers' disappointments comes from not knowing this point right away, then of course some get to it, and those who don't - get disappointed and as a rule leave.
I have seen reasonable thoughts on the subject in only two or three books in my experience, in one or two sentences.... As far as I am concerned, it is important that my trading style has changed dramatically after this understanding, and I have been doing it for many years.
I can hold training on Skype on this subject, it is constructed very intelligible and demonstrative, if you get 7-8 people, 250 rubles per person, we can discuss this subject in person.
Two, three people - not very clear and not very indicative, more than eight people vanity unnecessary, 7-8 - just right ......
In real life, we pass all of our newbies through this procedure!
If a trader has experience of losing at least one or two deposits - this procedure becomes a real revelation for him.... :-) If a trader has no experience, he³'ll come to the realization a little later, after the first three or four unsuccessful real trades...
Give it up. Simplicity is deceptive.
While you're young, learn a real, useful profession. Before you can snap your fingers, years will have passed, and with this experience you will at best be hired as a market trader (grocery).
Instead of MQL, you have to learn C# or Java, you will always have a piece of bread. Forex as a hobby, when you getthe "grail", you easily switch to MQL.
How much they earn, how much they earn? They just jerk off with dreams until they sell out a few deposits. Then they quit. The 90 % of those who think they succeed in it, in real trading they practically all hang around zero for a long period of time, at best.
Give it up. Simplicity is deceptive.
How much do they get, how much do they earn? They jerk off in their dreams until they lose a few deposits. Then they quit. 90% of those who think they are good at it, in real life, over a long period of time almost all of them are hanging around zero, at best.
Well, yes - well put, as in any other profession - a lot depends on the individual.
And concentrating your whole life just on forex is definitely not worth....
... Let's not be the grey 90% :-))))))))))))))))
All these books are pure fraud. How can you have the conscience to advise a person with this crap?! You've got some nerve.
Spare his time.
Topekstarter, I don't recommend reading this crap. I'm telling you with absolute certainty that the standard approach doesn't work. And if it does, it doesn't work for long. Conclusions are up to you.
No one will share worthwhile approaches with anyone - it's time to take it out on your own.
One of the most important details, especially at the initial stage, is the ability to invest as much money as necessary in a deal.
The lion's share of newcomers' disappointments comes from not knowing this point right away, then of course some get to it, and those who don't - get disappointed and as a rule leave.
I have seen reasonable thoughts on the subject in only two or three books in my experience, in one or two sentences.... I have seen only two or three books in my experience, but it is important because my trading style has drastically changed after this realization.
I can hold training on Skype on this subject, it is constructed very intelligible and demonstrative, if you get 7-8 people, 250 rubles per person, we can discuss this subject in person.
Two, three people - not clearly and not very indicative, more than eight people vanity unnecessary, 7-8 - just right ......
In real life, we pass all of our newbies through this procedure!
If a trader has experience of losing at least one or two deposits - this procedure becomes a real revelation for him.... :-) If a trader has no experience, he will come to the realization a little later, after the first three or four unsuccessful deals on the real account...
Very interesting of course. I'm almost on the list.
Give it up. Simplicity is deceptive.
While you're young, learn a real, useful profession. Before you snap your fingers, the years will pass, and with this experience at best you may be hired as a market trader (grocery).
Instead of MQL, you have to learn C# or Java, you will always have a piece of bread. Forex as a hobby, when you get the "grail", you easily switch to MQL.
How much they earn, how much they earn? They just jerk off with dreams until they sell out a few deposits. Then they quit. 90% of those who think they are successful in real life on the long run almost all hang around zero, at best.
Well, this proportion may be applied to any kind of trade. Everywhere you look 1/20 has 20/1. The main thing is to have that 5-10%. I doubt it exists at all.
Well, yes - well put, as in any other profession - a lot depends on the person.
And you should not focus your whole life on Forex, just do not.....
... Let's not be the grey 90% :-))))))))))))))))
Exactly! I clearly understand that this is not a gray area, it's either a shovel or a minus. But it's worth a try.
All these books are pure hokum. How can you have the conscience to advise a person with this crap?! You've got some nerve.
Spare his time.
Topekstarter, I don't recommend reading this crap. I'm telling you with absolute certainty that the standard approach doesn't work. And if it does, it doesn't work for long. Conclusions are up to you.
No one will share worthwhile approaches with anyone - it's time to take it out on your own.
Can you tell me how to accumulate information and then get something out of it that is not a hoax after all? That's actually why I started the topic. That most books don't make sense, I guess, and there are so many that even if I wanted to, I wouldn't be able to read them in a lifetime.
But you have to start somewhere. To stand on a position of nihilism from the start, as far as I see it, is not quite right. After all, knowing what you don't need to know is better than not knowing anything at all. This is IMHO.
I take it you mean that there is no value in information in the public domain and a paid one might have it after all?
But how can I assess the probability of credibility of then paid information without having any basis? Agree that paid information can be meaningless as well. I think that a book or two will not hurt.
If you can offer your option, information trader's way, I would appreciate it.
What is the best way to gather information and then get something out of it that is not a scam? That's actually why I started the topic. I can guess that most of the books are meaningless, besides there are so many of them that even if I wanted to read them, I would not be able to read them for many lifetimes.
But you have to start somewhere. To take a nihilistic stance from the start doesn't seem right to me. After all, knowing what you don't need to know is better than not knowing anything at all. This is IMHO.
I take it you mean that there is no value in information in the public domain and a paid one might have it after all?
But how can I assess the probability of credibility of then paid information without having any basis? Agree that paid information can be meaningless as well. I think that a book or two will not hurt.
If you can offer me your variant, I will be very grateful to you.
I'm not ready to give you or anyone else a direct lead.
As for the path, try to look at all the multifaceted approaches to trading. Having a list - you can filter out the unnecessary. It took me about 1.5 years - provided I implemented most of the ideas in code, it allows me to give an objective assessment. I consider myself lucky.
Another way is when the trader reaches the understanding of the mechanism himself. But this is rare.
As one of the visitors to this forum rightly says: the hardest part is thinking for yourself.
p.s. I just don't understand how you can read a whole book on any kind of TS. You can usually fit everything into an article, or a set of rules on 1 page. So, don't get hung up on books.
p.p.s.If economics could be learned from books, every librarian would be a millionaire. (W. Buffett)
Very interesting of course. I'm on the list at the drop of a hat.
Well, that proportion applies to every craft. Everywhere you look, 1 in 20 has 20 in one, but I doubt there's any 5-10%.
Exactly! I'm pretty clear that this is not a gray area, it's either a shovel or a minus, a little is unlikely. But it's worth a try.
Tell me how to collect information and then get it out of that is not cheating? That's actually why I started the topic. That most of the books have no sense, I guess, besides there are so many of them that I would not be able to read them even if I wanted to for many lifetimes.
But you have to start somewhere. To take a nihilistic stance from the start doesn't seem right to me. After all, knowing what you don't need to know is better than not knowing anything at all. This is IMHO.
I take it you mean that there is no value in information in the public domain and a paid one might have it after all?
But how can I assess the probability of credibility of then paid information without having any basis? Agree that paid information can be meaningless as well. I think that a book or two will not hurt.
If you can offer your variant, I will be grateful to you.
All right, dig deeper.
But still correctly said, forex is more of a hobby. If you try to make a living out of it (and not only that), you will fall into an addiction. On failures, on successes, on drawdowns. Imagine, you need to earn and withdraw a minimum of a kopeck, just so you don't starve to death. Stable, every month. Not everyone can do that. But if you can, then you're one of the chosen ones.)
As for shoveling, you're not quite right. In fact, it's a chore. You work with a miser. Miser to miser, it adds up in a month. You want adrenaline, raise the stakes. You learn a lot about yourself.
I met some brokerage companies that have contests "take the deposit", "catch a moose". With normal prizes. There are some conditions. In other words, when working strictly according to the system it is not so easy to withdraw. Some of them even went up.