Any forex or other market algo traders in the audience?
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I never said money is evil or trading useless. I said making money out of money is evil. I said "trader", as a job = someone who plays (or let computers play for him) on market places with billions, for the sole sake of making more billions, is evil and serves no purposes : A trader buys dollars in US, then sell euros in Europe, then buy yens in Japan, then sell it in dollars in the US, and makes hundred of millions thanks to exchange rates in one day. What is the added value of all this ?
I'm not playing this online kiddie game on CP anymore.
Jeremy Falcon
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Jeremy Falcon wrote:
Then can you tell me why they (in MT4 at least) label their symbols with "pro" at the end?
No idea. I have had demo and live accounts on many brokers over the years and most of them seem to have some kind of suffix appended to their symbols. On some brokers there were suffixes for 4-digit quotes, ECN, STP, and other such nonsense lol. I would just find the set that best suited my needs and went with that.
Jeremy Falcon wrote:
How is that working out for you? I'd be curious to know.
It works very well as long as you have enough margin to hold many positions open once in a while. My Expert Advisor (EA) will automatically close the oldest trade if my free margin gets too low. But honestly, if that happens, it's either because gotten greedy or something catastrophic happened in the market.
Jeremy Falcon wrote:
Also, for your trailing stops... are you using MT4 or the active trader (or whatever they call it) for forex.com?
I have written a really cool trailing stop library in MT4 that manages my trades once they are placed, which has some pretty nifty features. With this strategy, for example, it won't start a trailing stop until I can LOCK at least a few pips profit when I get stopped out. Also, it tracks the profit across all trades, so that often times some trades will close with a loss, but the sum of all the closed trades will be profitable.
You can't win. You can't break even. You can't quit. You're welcome.
I've only been with FXCM, and the whole suffix thing is new to me then. Go figure. Would be interested to continue this conversation, but it seems your last message got flagged as spam. CP no likey.
Jeremy Falcon
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I never said money is evil or trading useless. I said making money out of money is evil. I said "trader", as a job = someone who plays (or let computers play for him) on market places with billions, for the sole sake of making more billions, is evil and serves no purposes : A trader buys dollars in US, then sell euros in Europe, then buy yens in Japan, then sell it in dollars in the US, and makes hundred of millions thanks to exchange rates in one day. What is the added value of all this ?
Rage wrote:
...makes hundred of millions thanks to exchange rates in one day. What is the added value of all this ?
If these guys were doing it to horde money then I would agree with you. But let me ask you something about these so-called money-changers... Do these people eat food? Well then they have to spend money on food, which someone worked to produce, and someone else worked to sell. Do these people wear clothes? Ooh then they have to spend money on those clothes, which someone worked to manufacture, and someone else worked to sell. What about things like cars, boats, houses, jewelry, etc.? Yeah. Exactly. Just because a large amount of money is earned by someone who doesn't physically "produce" anything, it doesn't mean they provide no value. The fact is that the value they provide is in the redistribution of the money they earn. A single millionaire, by just spending his/her money, could be the reason why several businesses are able to remain in business, keeping dozens of people employed. Why then do you care how they make their money if they are doing it legally? Sorry to keep this game going but I couldn't resist the bait. :sigh:
You can't win. You can't break even. You can't quit. You're welcome.
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Rage wrote:
...makes hundred of millions thanks to exchange rates in one day. What is the added value of all this ?
If these guys were doing it to horde money then I would agree with you. But let me ask you something about these so-called money-changers... Do these people eat food? Well then they have to spend money on food, which someone worked to produce, and someone else worked to sell. Do these people wear clothes? Ooh then they have to spend money on those clothes, which someone worked to manufacture, and someone else worked to sell. What about things like cars, boats, houses, jewelry, etc.? Yeah. Exactly. Just because a large amount of money is earned by someone who doesn't physically "produce" anything, it doesn't mean they provide no value. The fact is that the value they provide is in the redistribution of the money they earn. A single millionaire, by just spending his/her money, could be the reason why several businesses are able to remain in business, keeping dozens of people employed. Why then do you care how they make their money if they are doing it legally? Sorry to keep this game going but I couldn't resist the bait. :sigh:
You can't win. You can't break even. You can't quit. You're welcome.
TonyManso wrote:
Why then do you care how they make their money if they are doing it legally?
This is purely philosophical on my side, so I have no solid arguments or reasons about why I care, but fact is that it bothers me. I have nothing against people making money, I simply have an ethic problem with jobs which have no other added value in society than making money BASED ON NOTHING ELSE THAN HANDLING MONEY. And do not get me started on legal aspects... As for redistribution, nah[^].
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I'm not playing this online kiddie game on CP anymore.
Jeremy Falcon
Fair enough.
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Writing algorithms for trading foreign currencies is one of my main hobbies, which I'm just a few (hundred thousand) dollars short of turning into a career. Even though my original background is in video games and embedded systems, financial markets is really just more of the same (real-time programming). Anyway, enough babbling. Am I the only one who frequents CP that writes algos for financial markets? Who else is there among you? Speak now or... well... don't. :-D
You can't win. You can't break even. You can't quit. You're welcome.
I spent twelve years involved in this field, but I'm not allowed to tell you a damned thing about it. What I can say is that not a single person who is involved in trading understands cr@p about how it all works. Details cannot follow.
I wanna be a eunuchs developer! Pass me a bread knife!
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Trading is the cornerstone of our economy. Without it, we have no sense of worth for money, products, goods, services, etc. You wouldn't have an idea of how much salary to make to suit your skill-set, and the list can go on and on and on. The only evil involved with money is greed. But greed is a human emotion that applies to everything... food, car seat space, romantic partners, etc. The list goes on. If you want to say greed is evil I could go for that. Yet, everyone is greedy. So just accept that as a part of human nature, and marginalize the risks associated with it. However, money is not evil. Trading is not useless.
Jeremy Falcon
Jeremy Falcon wrote:
Without it, we have no sense of worth for money, products, goods, services, etc. You wouldn't have an idea of how much salary to make to suit your skill-set, and the list can go on and on and on
Not really, because the values applied to goods companies, service companies, and everything else have nothing to do with the real world, or with the needs and desires of anyone except those making phantom money from the exchanges. Is mcdonalds worth n because its trading value is x, or is it a viable business because of its cash flow? The two are completely unrelated. If the mcdonalds share price dropped enough, the company would close, even though it makes astronomical profits. Anyone who wants to understand the basics of the stock exchange should look into its history, and why it started -- i.e. the Dutch tulip insanity.
I wanna be a eunuchs developer! Pass me a bread knife!
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Rage wrote:
...makes hundred of millions thanks to exchange rates in one day. What is the added value of all this ?
If these guys were doing it to horde money then I would agree with you. But let me ask you something about these so-called money-changers... Do these people eat food? Well then they have to spend money on food, which someone worked to produce, and someone else worked to sell. Do these people wear clothes? Ooh then they have to spend money on those clothes, which someone worked to manufacture, and someone else worked to sell. What about things like cars, boats, houses, jewelry, etc.? Yeah. Exactly. Just because a large amount of money is earned by someone who doesn't physically "produce" anything, it doesn't mean they provide no value. The fact is that the value they provide is in the redistribution of the money they earn. A single millionaire, by just spending his/her money, could be the reason why several businesses are able to remain in business, keeping dozens of people employed. Why then do you care how they make their money if they are doing it legally? Sorry to keep this game going but I couldn't resist the bait. :sigh:
You can't win. You can't break even. You can't quit. You're welcome.
TonyManso wrote:
Sorry to keep this game going but I couldn't resist the bait.
Learn to resist it man. I know it's rough... A successful investor has to get rid of the over emotional reactions that surround money. And while we may not be rich yet, it's part of the path to it. It's like air, people only freak out about it when they don't have it.
Jeremy Falcon
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I spent twelve years involved in this field, but I'm not allowed to tell you a damned thing about it. What I can say is that not a single person who is involved in trading understands cr@p about how it all works. Details cannot follow.
I wanna be a eunuchs developer! Pass me a bread knife!
Mark_Wallace wrote:
What I can say is that not a single person who is involved in trading understands cr@p about how it all works.
:laugh: :laugh: :laugh: :laugh: :laugh: :laugh: Clearly you've done this before. You have piqued my curiosity btw.
Jeremy Falcon
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Jeremy Falcon wrote:
Without it, we have no sense of worth for money, products, goods, services, etc. You wouldn't have an idea of how much salary to make to suit your skill-set, and the list can go on and on and on
Not really, because the values applied to goods companies, service companies, and everything else have nothing to do with the real world, or with the needs and desires of anyone except those making phantom money from the exchanges. Is mcdonalds worth n because its trading value is x, or is it a viable business because of its cash flow? The two are completely unrelated. If the mcdonalds share price dropped enough, the company would close, even though it makes astronomical profits. Anyone who wants to understand the basics of the stock exchange should look into its history, and why it started -- i.e. the Dutch tulip insanity.
I wanna be a eunuchs developer! Pass me a bread knife!
Fair enough on reading the history about it. But, until I read a post that shows the poster actually understand economics, I'm not gonna bother getting into yet another online debate with people lacking experience in the topic they're debating.
Jeremy Falcon
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Mark_Wallace wrote:
What I can say is that not a single person who is involved in trading understands cr@p about how it all works.
:laugh: :laugh: :laugh: :laugh: :laugh: :laugh: Clearly you've done this before. You have piqued my curiosity btw.
Jeremy Falcon
Unfortunately, the people I've worked for might not have even a single, functional logic gate in their brains, but they do have good lawyers.
I wanna be a eunuchs developer! Pass me a bread knife!
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Unfortunately, the people I've worked for might not have even a single, functional logic gate in their brains, but they do have good lawyers.
I wanna be a eunuchs developer! Pass me a bread knife!
:-D
Jeremy Falcon