So you want to trade successfully?

[wayneL]

...and before GFC - Sep 2008

S&P 500 - ~20%

EUR/USD - ~9%

 

[SmellyTerror]

Uh oh. We aren’t going to be re-fighting the X-Wars (foreX vs indeX), are we?

Let’s see if I have this down:

Someone is now going to counter with some argument related to leverage, which will fail to mention an important caveat.

Then someone else will come back with an ode to volatility, which will apparently miss a vital point, but which will absolutely nail an argument that no-one is actually making.

Then we’ll get about three paragraphs constructed around the word “liquidity”, packing that concept in like so much sponge and padding, and contributing as much to the value of the conversation.

Then we’ll get some kind of bizarre argument about markets that show several participants have never traded the thing they’re arguing against, and wouldn’t even know that thing if they ran into it, and drove home with it hanging out of their windscreen.

Brokerage will be dusted off and employed as a blunt instrument, improved occasionally by the rusty nail represented by wild claims about what special deal my broker gives me, because I’m made entirely from awesome.

Some fool will say something about automated trading, and will be killed, cooked and eaten.

Tempers will heat to a point that strains the profanity filter to its limits. Brows will furrow. Fingers will waggle. Pee-pees will be measured and found wanting.

Eventually, having used every word the English language has to offer, the combatants will go stalking back to their corners, hostages will be exchanged, and knives sharpened in preparation for next time.

…and the stunned civilian survivors, standing in the wreckage, will conclude that there’s not really much difference, so let’s just get on with life.

----
Full disclosure: Wayne and Tech each know about a million times more than me about pretty much everything that counts, but that will never stop me taking the piss.

Even fuller disclosure: I (try to) trade forex, because indices scare me like an ominous black obelix scares a chimp. I content myself with pointing, shrieking, and occasionally flinging poo.

 

[wayneL]

X-Wars! HAhahahah fantastic Smelly Terror. 10/10 very funny.

 

[johenmo]

ST - that is worth hanging on the wall. Brilliant!

 

[Wysiwyg]

Full disclosure: Wayne and Tech each know about a million times more than me about pretty much everything that counts, but that will never stop me taking the piss.

Gee whiz, and all this time I thought you were the intelligent, experienced, knowledgeable one. --->




...

 

[CanOz]

rotflmao!!! ST, that's a classic, the funniest thing I've ever seen on here. Your a very creative individual!!!

CanOz

 

[SmellyTerror]

Thanks!

...send money.

 

[Tanaka]

Just got the book this morning, already half way through. I must say that it’s one of the best books for traders I have read. Thank you for the recommendation tech/a! The book is fluent and concise and the examples are easy to follow. I wish I had read it before I started actively trading.

 

[Tanaka]

Anyone got a copy of the 0_Risk_of_Ruin_Simulator.xls? Please post it, I'm still waiting for a reply from IndexTrader.com.au

 

[Willba]

Thanks for this guys - getting it from booko!

Big thanks to tech/a!

 

[Columbo]

Thanks for this guys - getting it from booko!

Big thanks to tech/a!

outstanding book...well worth a read !!

 

[KurwaJegoMac]

A great book with lots of sound advice, really clear and concise (but stay away from the preface because wow does he repeat himself a million times in the one paragraph ) Thankfully the rest of the book isn't like that.

Well worth picking up!!

 

[goponcho]

Half way through...
Content seems solid, but he repeats himself sooooooooooooooooooooooooooooooooooo much its unbelievable.

Seriouslyy...

 

[tech/a]

Half way through...
Content seems solid, but he repeats himself sooooooooooooooooooooooooooooooooooo much its unbelievable.

Seriouslyy...

That he does but some of us need things repeated!