[Closed] pokerstrategy are gonna teach forex trading??

Yesterday, on 1st of May 2011, Mr Poker died in his home at the age of 182. Mr Poker will by missed by millions of young men and women who are too lazy to get a real job, but love money.

In his will Mr. Poker encouraged all his followers not to despire, but find another way of paraziting on society. One great way of making money while avoiding contribution to the common good is forex trading, Mr. Poker pointed out.

He hoped that his departure will not drive todays young people to rash decisions, like acquiring a decent education or becoming a productive member of community. And that's what we hope too.

May he rest in peace.

Originally posted by fuzzyfish
One great way of making money while avoiding contribution to the common good is forex trading, Mr. Poker pointed out.

Contributing to society is a choice you make after the money making. The process of money making abhors contribution to the common good.

Originally posted by tokyoaces

Contributing to society is a choice you make after the money making. The process of money making abhors contribution to the common good.

This seems a bit general to me. At least 5% of the people do make sacrifice and chose their job in order to contribute to the well being of their fellow humans...

If it's true it's great. However, i found forex trading incomparably harder then playing poker. And i studied it incomparably more.

Swings are as usual sickening, returns are generally modest (with excessive leverage you blow up your account) - 30%+ per year and you're a superstar, and sample size... if you trade the daily timeframes should take you a few decades. If you go intraday the chances of you being profitable jump off a cliff.

You want it or not you contribute with something if you trade forex: you give your broker the spread, you (should) give some taxes on your winnings, and for everything you've got you pay or recieve interest. So you pay for what you borrow. You can say that carry trading (that is putting a lot of focus in recieving interest) is some superfancy way of making a deposit at a bank. And that contributes to society...

Hi,
You're absolutely right, forex trading is very close to gambling, but its not the way to look at it. You can learn forex trading and reduce the chances of losing, if you only have a self-discipline. About learning, because you do not like to sit at the computer, you can simply print the material from websites.in the next link -
[edited by thazar]-no advertising allowed
you will find a book for beginners, where I started. Beyond that, recently I enjoyed [edited by thazar] great site that gives you $100 free (no deposit needed) to start with, if you will pass there trading simulator (and its not that hard).
Good Luck!

I make money from forex trading - more money than I could have made from poker, but traders cannot simply be handed a winning strategy and expected to succeed the way poker players are. I would be very, very skeptical of any forex teacher or mentor from pokerstrategy who claims to be a successful trader. And ignore anyone, even on this site, who claims they can make you a profitable trader - anyone making such a claim is ignorant at best.
Pokerstrategy will not offer prospective traders anything new which is not already available at other websites, brokers will not share their profits with affiliates so the ps business model will not work. Nor will a graduated learning process like the strategy section here. If anybody seriously wants to learn how to trade forex, forget about doing it through a poker site.

A tiny bit off topic but what currency would people recommend keeping there bankroll in? Playing at stars they let you keep it in which ever you like

Originally posted by delete461
brokers will not share their profits with affiliates so the ps business model will not work.

really?

like really?????
:O

Originally posted by delete461
I make money from forex trading - more money than I could have made from poker, but traders cannot simply be handed a winning strategy and expected to succeed the way poker players are. I would be very, very skeptical of any forex teacher or mentor from pokerstrategy who claims to be a successful trader. And ignore anyone, even on this site, who claims they can make you a profitable trader - anyone making such a claim is ignorant at best.
Pokerstrategy will not offer prospective traders anything new which is not already available at other websites, brokers will not share their profits with affiliates so the ps business model will not work. Nor will a graduated learning process like the strategy section here. If anybody seriously wants to learn how to trade forex, forget about doing it through a poker site.

Richard Dennis did this. And he is a legend in the trading world. He took ordinary people and turned them into successful trader. You can read about it in:
Way of the turtle by Richard Dennis

On another note, can't wait for this to happen ! I am so going to get involved in this if I can ♦

Originally posted by delete461
I make money from forex trading - more money than I could have made from poker, but traders cannot simply be handed a winning strategy and expected to succeed the way poker players are. I would be very, very skeptical of any forex teacher or mentor from pokerstrategy who claims to be a successful trader. And ignore anyone, even on this site, who claims they can make you a profitable trader - anyone making such a claim is ignorant at best.
Pokerstrategy will not offer prospective traders anything new which is not already available at other websites, brokers will not share their profits with affiliates so the ps business model will not work. Nor will a graduated learning process like the strategy section here. If anybody seriously wants to learn how to trade forex, forget about doing it through a poker site.

it's the same at poker, not everyone that registers here make profit. Duh

Originally posted by Saruniks

Originally posted by delete461
I make money from forex trading - more money than I could have made from poker, but traders cannot simply be handed a winning strategy and expected to succeed the way poker players are. I would be very, very skeptical of any forex teacher or mentor from pokerstrategy who claims to be a successful trader. And ignore anyone, even on this site, who claims they can make you a profitable trader - anyone making such a claim is ignorant at best.
Pokerstrategy will not offer prospective traders anything new which is not already available at other websites, brokers will not share their profits with affiliates so the ps business model will not work. Nor will a graduated learning process like the strategy section here. If anybody seriously wants to learn how to trade forex, forget about doing it through a poker site.

it's the same at poker, not everyone that registers here make profit. Duh

so true. Only that put the hard work into into it, and those who control their emotions succeed and rip the benefits this site can offer

lol my goal was to withdraw my money from ftp and move to forex. I thought i had enough with poker about 2 months i'm already on my way to learning. reading few books while watching some fx experts videos. it would be interesting if ps would start such section. i would ofc participate in it for sure.

Originally posted by bmfbpi

Richard Dennis did this. And he is a legend in the trading world. He took ordinary people and turned them into successful trader. You can read about it in:
Way of the turtle by Richard Dennis

I have read way of the turtle, and I also trade long term breakouts like the turtles did. It is a common fallacy that Dennis and Eckhardt took ordinary people off the streets and taught them to be profitable though. They screened thousands of people, they picked out less than 20 for the program, and even then more than half of them failed.

Originally posted by METALzx
Tell me about it, I keep my money in HUF which has like 30% swings vs USD, fml ♦

Also trading e.g. Forex requires big bankroll, so it won't be available to most of the members I guess.

I calculated and with 0.01 - microlots enabled site you can start around $400ish bankroll if you trade EURUSD with 1:200 leverage. (but obv kind of pointless to start with this small amount and swingy(?)). Amirite?

Kind of. Account leverage isnt the same as real leverage though, what really matters is what % of your account you are risking on each trade. You can start with a few hundred bucks trading micro lots, but you need to find a system with tight stops. I put stops at about 200 - 300 pips, so even with micro account (1,000 lots) my minimum risk would be at least $20. That means I need $1k to risk no more than 2% each time. That doesnt allow for any position size adjustment though - an important part of trading is adjusting position size to account for differences in volatility and pip price across different pairs.

Originally posted by delete461

Originally posted by METALzx
Tell me about it, I keep my money in HUF which has like 30% swings vs USD, fml ♦

Also trading e.g. Forex requires big bankroll, so it won't be available to most of the members I guess.

I calculated and with 0.01 - microlots enabled site you can start around $400ish bankroll if you trade EURUSD with 1:200 leverage. (but obv kind of pointless to start with this small amount and swingy(?)). Amirite?

Kind of. Account leverage isnt the same as real leverage though, what really matters is what % of your account you are risking on each trade. You can start with a few hundred bucks trading micro lots, but you need to find a system with tight stops. I put stops at about 200 - 300 pips, so even with micro account (1,000 lots) my minimum risk would be at least $20. That means I need $1k to risk no more than 2% each time. That doesnt allow for any position size adjustment though - an important part of trading is adjusting position size to account for differences in volatility and pip price across different pairs.

Sounds a lot like BRM to me

%risk is exactly the same as BRM. 2% risk = 50 buyins. Trading with more than 1% risk is pretty crazy though, variance in poker is incomparable to variance in trading.

there's a reason why traders in bank's get paid a fuck-ton...

Don't get so excited =), as Metalzx mentioned above, it requires a hefty bankroll in order to make decent profit So it won't be accessible to most people.

Hefty as in how much?

20k? 50K? 100k?