@J_Smith, who is this "they" you are talking about? Are you suggesting that there is a group of people controlling the financial markets? Are you serious @J_Smith? or, are you pulling our legs here? I know a little bit about UK 'cos we had operations there. The 1960 Betting, Gaming, and Lottery act is the backdrop used to classify 'spread-betting' as a form of gambling 'cos it is very similar to operations that Bookies perform in the eyes of the law. So, 'spread-betting' enjoys the same taxation benefits as Betting as per law (while the Betting firms pay 'betting' taxes and stamp duties to HMRC). There is no "They" ..... sports betting is a big industry in the UK. I am at a loss of words to continue this discussion. So, will stop here! All the best. Regards, Monoid.
I thought it was apparent to many that many aspects of our life are controlled, but that is another discussion. Yes, the markets are controlled in the sense that the majority of the wealth is transferred from the many, to the few. This control is mainly due to ignorance. In relation to "laws", they are really part of the other discussion, but if one thinks seriously about laws, what are their real purpose! We all speak about using our mind to control our actions, but we are all coming from a base that has evolved from the control principle, so from the start we are fighting an uphill battle if we do not accept certain things as fact. I do not like speaking as if I know everything, for I really believe that I know very little, but I have learned over the years to quickly identify what has real value and what has not, and it was a costly learning, not in just money terms. In summary, yes Monoid, I believe the markets are indeed controlled, and I also know a few people that have learned to do what must be done, and more importantly, when it needs to be done. Have I reached the level that they have, the truth is no, but I know the reason why, and that is my problem, the same way that each and every person have their own problems to overcome. I can see why some readers get fed up with the text book stuff reading, in relation to trading and self improvement, but as mentioned, the relevant information is indeed out there, it is just that very few have the mindset to understand and filter out the bullsh*t, which must be learned in my opinion if one wants to make any real advancements. J_S
@J_Smith: Thank you for the clarifications. I will let you and YK proceed with the discussion in this thread without any interference from me. All the best. Regards, Monoid.
Monoid, Feel free to say what you like, after all, my opinions are just that, and yours are just as important, same as everyone else. It may look like i am trying to avoid certain questions, but I am not, as I do not know the intricate workings of the markets or their associated laws, nor do i need to know at this stage of my development. My opinion is that most of us are blinded by our own ignorance, and when we try to better ourselves through discovery and learning, we find it very hard to distinguish between information of value and time wasting. Certain people have spent a lot of time and money learning what does and does not work for certain markets, and they of course will not part with this information easily, which is very understandable. I am not one of those people, but I do know a very small few that have learned what they really need to know. Is it possible to copy what they do? I believe it is to a certain extent, but one should never try to do something that is not achievable, for that is foolish and can cost a lot of time and money. I also believe that no matter what relevant information that you attain, it is of no use unless you have the mental ability to do what needs to be done, and this is the real hard part. Hence why some of the budda crap is required J_S
Simple, they have made lots of money trading, and I mean money that most only dream of. If a person will not show you their trading account, which is understandable, then you must see their winning trades and get an explanation as to why the trade worked out. No backtesting or simulated trades - live trades in a live market. Losing trades take care of themselves. J_S
A question for anyone who wants to answer. At this stage of your development as a trader, what do you now consider to be the most relevant piece of information that you have acquired to date ? J_S
J_S (if I may): Experience has taught me that the market gives a shit about what I think -- be it what should/will happen next, why somethings happen, or how the market works. I generally refrain from such discussions because I don't have anything useful to contribute ('cos I don't know how a market works or why something happened; the only hypothesis I have is that a convergence of traders' opinions move price. Here again, I can't prove it! But it seems plausible to me), and I find such discussion counter productive to the task at hand -- trading. With this said, I will sign off. All the best. Regards, Monoid.
The trader; It takes many small pieces All working in unison Managed by a proper mindset Applied consistently and repetitively Regardless of the individual outcome The chart Learn to stalk / hunt big game RN
To me, (1) a framework to view the market which in-turn helps make consistent, repeated decisions possible; and, (2) a mindset to follow the trading plan without regard to the outcome of any individual trade. Regards, Monoid.
For me (even though there is no such a thing as a "me", "I" nor the "self"). A method that can be relied upon and applied to the market that has consistent repeatable opportunities.