Hopes for This Thread
Just a place to share a little about our methods and discuss what is and isn’t working…your strengths and weaknesses, etc. Hopefully a few seasoned people join in, and through “the beg, borrow or steal” method…er, collaboration…we can all pick up a few gems from one another to improve our own methods. No need to give away the whole farm…your edge, so to speak…though. Share as much, or as little as you like. Contribute what you can…take away what you like.
I also find I get asked the same questions quite often. I often find it a pain to re-type a response…or to dig back through my posts to find a link to post for someone. I’m just going to use this thread…and particular posts which I will update over time, as the link I provide in such cases. If you find that happens to yourself often, too…and you don’t have a thread of your own for people to reference…bang out a post with some of your method. Keep it updated…and use that link as your answer to people on the often asked questions.
Rules of the Thread
Not a lot, really. I have set the vouch level required to post at the maximum, just to reduce some of the noise. If there was an option to make a “private” thread, I probably would have done that, but there is not. Vouch limit and my “ignore list” appear to be the only method to control posting rights. My “Iggy” list is empty…so that is not much use. 10+v and anybody on my “buddy list” can post. I have never really used my buddy list before, but I will update it over the next little while with this thread in mind.
If you don’t have enough vouches and really want to post something you think is valuable, you’ll probably find me in the EU thread. I roam these halls in Invisible mode, so I’m not sure if my PM feature appears active? I have it setup to be, but am unsure what Invisibility does to its status. If it is active…anybody is welcome to PM me at anytime. If it becomes problematic, I’ll step out of the shadows and become visible again. Also…If anyone has some obvious choices for me to include on my buddy list…let it rip.
We don’t have to post live calls or anything like that here…but feel free to if you want. I picture more of a reference type thread…an ever-expanding textbook, kind of thing. Post some charts and explain a bit about your method. Try to ask and answer a few questions…if they’re good. And of course…no amount of humor is too much! Bastards…”that’s what she said’s”…all welcome!
And now…a few words from Magix, that I have reprinted “without” his permission, because he has gone out drinking Guinness and eating curry for the night!
If he wants me to pull them, I will…but I would just be rephrasing
what he has already eloquently stated. I also need to thank Magix for
helping me get this intro…and general direction of the thread together
through his own experience starting threads. And last but not least…for
the title of the thread! I was going to go with “The Really Useless
Thread,” but Magix felt it might have the opposite effect to what I was
hoping for.Edit: There is already a thread titled “The Boardroom,” Mag. Had to go back to my original Useless name.
Alright…take it away, mate…
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NEW TRADERS
You wanna sit and hang, perhaps learn a little something from the seasoned vets, all are welcome, BUT:
1. The market has already publicly traded since the birth of the internet, so
- Your question has already been answered. (google it or use the FF search engine)
- Your view is already shared. Again, (google it or use the FF search engine)
- You look like a fool with your tinfoil hat, and these perspectives simply are not welcome.
2. Though we all hope to gain by a collaboration of experience, we already appreciate that we are a slave to our own market experience and though hope to improve, are not looking to START our careers as traders.
3. This is not your guide to getting rich quick. If you have taken entry as posted here, use your best judgment to take profit or cut losses. Those that participate do so of their own free will, not because "You" cannot pay your rent.
4. The use of the words "Fuck", "Feck", "Fak", are not reasons to report a member to admin, they are not a lack of respect nor professionalism; they ARE words that will get used.
5. The Senior members that post here may or may not have their PM's on to answer questions for you, do not abuse that privilege. If they do not have their PM active, they may have no intention answering your question nor wanting to, leave it at that.
6. Have fun and MAKE MONEY.
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Thanks brother, Mag!
Well…that’s about it, folks. We’ll see where it goes. Thanks in advance to all that contribute…and to those that I have already learned a lot from. There are some good heads here, and I consider it a privilege to be in contact with many of you when time permits.
All the best…and much success…you bunch of bastards!
Not that it matters a shite, but…
I started and ran a particular business for almost exactly 10 years to the day. What that business was, or did, is unimportant…I sold it in 2008. Clients were large multi-nationals…think Oracle, HP, Google, Vodafone etc. etc. I was paid initially in Irish Punts…and eventually in Euros. My suppliers were mostly US based. Through one of two situations, I was often paid long in advance for goods before they were required on-site.
1- The facility wasn’t complete yet.
2- They wanted to pay out of the current fiscal year’s budget, but weren’t ready to roll out for months…sometimes over 12 months.
Figures involved were often xxx,xxx in size…and occasionally x,xxx,xxx. The first time this happened, I got lucky; by the time I ordered from my suppliers, USD was cheaper to buy than when I initially quoted and received funds. Great! I made a couple extra percent, but didn’t give it much thought. A little over a year later, the same sort of situation arose, except with funds from three new clients. This time…not so fortunate! I got my ass kicked…dollars were a lot more expensive to buy than when I quoted! I had to do some research and find ways to prevent that from happening again.
First thing I did was cut my bank out of the equation. One familiar word…bastards! I started using XE to handle all of my transactions…the savings were quite significant; 1% or so…but it added up quickly on the amount of funds being transferred. Then in trying to find ways to basically “hedge” my funds…the world of “leveraged” forex appeared before my eyes! I started lurking around here in late 2005, I believe. Joined in 2008, but was crazy busy selling a business, a house…and moving another business, a dog…and myself across the world. Have only fairly recently kind of “settled down” a little bit…hence, my blossoming post count!
So...that's me...and how I got here. Lets roll!
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