Forex - work or play? What do you think? - page 12
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And this is taken from the books, where 5 are on the plus side and 95 are on the loss side.
This is bullshit, there is a statistic that can also be used as a guide:
"According to the NFA, among US forex companies, about 10% of clients close the year in the plus, about 30% fluctuate near zero, 60-70% percent close the year in the negative (any). Stable returns month after month are no more than 1-2%".
Forex trading is a game regardless of how we look at it. A job is a guaranteed payment for time spent (salary) or for a volume (trade). If one has his own business, it may also be a game in one case and a job in another. If a trader knows that in another city the commodity is more expensive than in his town and he has distribution channels, he can earn on it and it will be a job. And if he does not know how the goods will go, forecasts and takes risks, then it is a game.
This is a topic that could go on for several thousand pages. If you separate the work from the game, then life is essentially a game too.
Suppose you go to work every day at 8-00, but in this game can happen that when you leave the next day at 8-00, you when you leave the yard, "smash" in the side of some idiot in a VAZ, and here you are already late to work (deprived of premiums), so the way to workplace is as well game, can be on time, and you can be late for reasons beyond your control.
Everything is built on probabilities, with one difference: in one case probability is more dependent on you and in another case you are more dependent on probability, probabilities everywhere also vary as a percentage, but life does not stop there.
It is also possible to calculate risks in all probability ratios. This is a division of work and play, someone just leaves home a little earlier to come home a little earlier, or if something goes wrong to be on time and not to be late, and someone does everything against the clock - taking more risks.
Work is considered as a guaranteed payment for the time spent (salary) or for the volume produced (transaction).
If tomorrow, God forbid, you get fired -- could this situation be considered Forex or Fund?
After all, the work is the same there and there.
If tomorrow, God forbid, you get fired -- could this situation be considered Forex or Fund?
After all, both work the same way there and there.
I'll continue my thought, because the euro is getting in the way of writing everything in one post)
In forex / stock / fund helps us to achieve success through proper money management, but in life, with the same components of probability - time management helps.
There is no clear division, there is only nerdiness, nerdiness, literacy, hope, and so on.
If you mismanage your capital in forex/exchange/funds, the probability that you will be left with nothing is very high. It's the same in life, if you mismanage your time, you are just as unlikely to succeed.
Now ask yourself, do you have a diary that tells you everything in time a week ahead? But successful people have one, and all decisions are made not spontaneously and momentarily, but in a planned way.
In the same way in forex/exchange/funds, there are some points of probable reversal, but many people do not have patience to wait for the price to get there, and even if it gets there, they enter and wait! Further, there is no reversal, we wait for it anyway, the price keeps moving further, the loss grows, stops are moved, in the worst case it is removed completely and then we get topics that trading is a fraud.
If you get a job (game), you eventually begin to do more and more work for the same salary, but for some reason no one writes that the work for hire (game) is a scam.
In general it is all mixed, a lot depends on the individual. If someone trades at a profit, and we know who does, and if you cannot trade like some people, then the problem is with you personally because if someone can, it is possible.
(Truth from personal life) = I have an acquaintance who a couple of years ago "kept" a network of looters, so there he had a visitor and his wife, who came constantly as for work at 6 am, put a few hundred on a couple of machines, while constantly! took profit. All in all, for them it was a job that fed them. In the end, an acquaintance told the operators that when they came, they were not served, the boss said he didn't want you to play in his establishment (they were just robbing you constantly with their winnings)
What is the 5/95 rule, pardon my ignorance?
Vitaly Muzichenko:
(Truth from private life) = I have an acquaintance who "ran" a chain of scams a couple of years ago, and there he had a visitor and his wife, who came as if they were at work at 6 am, betting several hundred on a couple of machines, while constantly! withdrawing profits. All in all, for them it was a job that fed them. In the end, an acquaintance told the operators that when they come, they are not served, the chief said he did not want you to play in his place (they just robbed constantly winning).
This suggests that it's up to one person to win, either the casino or the player. And if the player systematically refuses to lose, he is simply forbidden to play.
The difference between playing and working is simple, working guarantees a steady profit. A game doesn't, it has to be constantly conquered. Therefore, for brokers, it is work, unless, of course, by work they start gambling. And for the trader, this game, since the percentage of profit and loss are 50/50.
This suggests that one must win, either the casino or the player. And if the player systematically refuses to lose, he is simply forbidden to play.
The difference between game and work is simple, work guarantees a stable profit. A game doesn't, it has to be conquered all the time. So for brokers, it's a job, unless of course, in addition to work, they start gambling. And for the trader, this game, because the percentage of profit and loss are 50/50.
There you go again. That's where the 50/50 figure comes from?
I have, for example, 30/70, well I can not even get a result of 40/60, I can not yet, but even with 30% success it does not stop me from earning. I`m not sure if I`m going to get some profit, but I`m sure I`ll just need to change my brokerage company, I`ve done it, and it`s not like I`ll have to change it again.
There you go again. Where does the 50/50 figure come from?
I have, for instance, 30/70, I can not even get a result of 40/60, I can not yet, but even with 30% success it does not prevent me from earning. I cannot make any profit with this kind of thing, I just need to change my brokerage company, which I did, and it doesn't mean that I will have to change it again.
My brokerage firm is stable I got 50/50 on Stock (futures), but there is small spread and commission is 1-2 p. for 1 contract. In shares, commission, total per transaction - buy-sell, 0.1% of transaction value - also 50/50. In shares the commission is bigger, but there is less market noise, so there is no difference.
I am trying to make an automated forex trading robot and it is getting messy. I think the reason is spread and noise.
I suspect that you also get 30/70 because of spread + market noises. I was recalculating spreads on forex to compare with market ones, but something doesn't work with that. Let's compare market and exchange costs for equivalent transactions sometime. Let's have a Eurobucks -0.1 contract (10000 quid). What are the transaction costs? I will tell you my results as well.
By the way, what is the real spread on the same eurobucks? I have right now 2.5 p (on the fourth digit).