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Old 02-04-2007, 06:03 PM
Elfive 9 Elfive 9 is offline
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Join Date: Feb 2007
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Here are a few more:

16. Praying to God isn't going to influence your trades one way or another. God isn't listening and God doesn't care. Neither does the market.

17. Most new traders are over-leveraged, under-capitalized, assume far too much risk and have absurd profitability expectations. A lot of new traders are actually desperate to be profitable in lieu of working a regular job or some other personal financial issues, and therefore expose themselves to being wiped out early in their trading.

18. A 5% monthly return on trading is in fact a very generous and profitable ROI to be proud of.

19. The data feed of a broker demo account is actually more representative of true market price action than a live account feed because it isn't manipulated.

20. Backtesting and forward testing of EA's is virtually useless for purposes other than debugging code logic. The price action data feed of a live account is manipulated by the broker. Brokers use computer monitored algorithms to randomly squash the amplitude of true price volatility to fake out EA indicators and trade logic.

21. Your trading activities are absolutely and continuously on the radar of your broker, and traders that are too profitable are unknowingly subject to more stringent price manipulation techniques.

22. The only EA trading methodologies that have a lick and a promise of succeeding are based on creative straddle, hedging or countertrend order placement techniques. All others will eventually fail.

23. The most obvious and proven successful mechancal trading methods such as scalping are prohibited by brokers.

24. In most cases, news induced tower bars are nothing more than volatility responses to trader greed and have nothing to due with any real economic impact of the news on the underlying currencies. The currency price usually settles down and returns to it's mean value after the news.

25. The majority of industry gurus that offer trading books, methods and seminars don't even trade and make their money selling you their wares because the risk/reward ratio is much better than actually trading.
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