Being a bank teller is not a noble job. Bank tellers do provide a service. Providing a service alone does not qualify as noble (nor did I ever say it did, as then again, any job that provides a service would then qualify as noble). Sanitation, ...

Is Trading FX A Noble Profession?

I'm glad the circle-jerk of nobility has continued with still no one able to apply a valid reason that trading should be considered noble. What jobs you consider to be noble is definitely subjective, but the definition of noble is not. So here are ...

Is Trading FX A Noble Profession?

Devil's advocate here, but no one's made a genuinely convincing argument for trading being a noble profession. The comparisons between trading for a living and playing Texas Hold 'Em for a living are uncanny (importance of psychology, risk ...

Is Trading FX A Noble Profession?

To those answering that being a trader is the "ultimate entrepreneur", is professional gambling noble? The only practical difference between gambling and trading is that one person uses money to make money in a game, the other uses money to make ...

Is Trading FX A Noble Profession?

The purpose of jobs is to offer a service or product and make money for said service. Traders make money, teachers make money, as do policemen and firefighters, and other professions commonly called noble. The difference between trading and the ...

Is Trading FX A Noble Profession?

I agree that you wouldn't have a market without fundamentals, that should go without saying. Price action, on any time frame, (1) will tell you what has happened in the past, (2) is happening in the present, and combining 1 & 2 will likely happen in ...

Fundamental vs Technical

I get it, I think our misunderstanding comes from where we start-- my base assumption for this theoretical example is that we're given a coin, or die, or cards, or any other odds game, and we assume (but don't know) that the odds are fixed equally, ...

Probability Paradox!?!

You're right if you know beforehand that this coin has a 50% chance of landing on either, but to be honest I skipped your posts on the matter and did not see that you specified knowing a 50% chance on the flip. Also, without getting into the physics ...

Probability Paradox!?!

You're still missing his point. There comes a time when theory and practicality run into each other-- if you have a physical coin that flipped and landed on tails one million times in a row, there's a pretty damn good chance that the coin's ...

Probability Paradox!?!

Yeah, it's a pretty absurd statement on the face of it-- if any of us knew for a fact where price was going, we'd be trillionaires. It was simply made in contrast to EliteJ's statement that fundamentals give you a "feel" for where the market is ...

Fundamental vs Technical

Completely agree here. Completely disagree here. Actually really, really, really strongly disagree. The idea that fundamentals could give you a better idea of how far a trend will last over price action is ridiculous and definitely not supported by ...

Fundamental vs Technical

How will realizing what dominates the long term trends "bring a person closer to becoming a successful currency trader"? On any given day there may be flows that go with or against the long term fundamentals, for any number of reasons, most of which ...

Fundamental vs Technical

Consecutive losing trades usually ends my trading day, and consecutive losing days usually ends my trading week. No profit targets, I take all I can get when I can get it. I think it's better than having profit targets, but whatever works for you. ...

Compressing Trading into Life

While we're on it, because I find this stuff particularly interesting, what do you think about the Narcissistic Personality Inventory test? I'd be interested in seeing traders responses to this, especially as the link between psychopathy and trading ...

What personality makes a trader

ENTP as well, however each category was very borderline. I think certain aspects would definitely be shared by many successful traders-- specifically the mental questions regarding planning and analyzing vs. spontaneity & feelings... i.e. most ...

What personality makes a trader

Right, and I personally believe judging that context to be extraordinarily difficult and not worth the time. Again, you're trying to determine how, globally, a consortium of banks, funds, commercials, etc. are going to both forecast and react to ...

Fundamental vs Technical

My personal opinion is that unless you are trading ultra-long term, both the fundamental data itself and the reaction to fundamental data are too unpredictable. You can't know which fundamentals the market is concerned about this week or month, you ...

Fundamental vs Technical

By definition a trend is "general course or prevailing tendency", so what made you decide that trends only apply to extremely long timeframes? If a market trades down all week, that is by definition a downtrending week. The general course or ...

How long can trend last and what causes trend?

The conventional definition of a trend is higher highs/higher lows (uptrend), lower highs/lower lows (downtrend), but I'm sure there's room for disagreement in there somewhere. As for length, it depends. You could have a downtrend going on intraday ...

How long can trend last and what causes trend?

Agree with bevok and Ewaver's posts. Would just like to address one part of bevok's post, from Peter Brandt's quote (never read him, but I digress): "Diagonal patterns, by contrast, have slanted boundary lines. This creates three practical problems. ...

Strength Of Trendlines