Newbie
Hey Guys...
Anyone here a trader or an inspiring trader?
I have been learning forex for the last two years. Truthfully i started out with greed in my eyes and thinking about making lots of money fast. That certainly has changed with some hard lessons learned, today trading is a hobby and i hope to include it as part time income some day.
Any others?
guest
I love to trade, especially when it gets me a different gun
Never did much financial trading. They don't want to barter for animals or labor
Dan
Just conservative investments for me. I guess trading might be ok for some if greed isn't a problem, but it's not for me, not even in good times.
...and you shall live...
Generally anything that can make money fast also carries the risk of losing money fast too. It sounds like you learned that one the hard way.Originally Posted by saskgui
I've dabbled a little in the stock market, had some successful picks and some less successful. I keep meaning to get around to seeing if it can provide a liveable income, even if it would only sustain a modest life that would suit me just fine.
1Jn 4:1 NKJV Beloved, do not believe every spirit, but test the spirits, whether they are of God; because many false prophets have gone out into the world.
1Th 5:21-22 NKJV Test all things; hold fast what is good. (22) Abstain from every form of evil.
A guy I work with does the whole Forex thing... he gets his butt handed to him every single time he does it with real money...
For what mortal has ever heard the voice of the living God speaking out of fire, as we have, and survived? ~ Deuteronomy 5:26
If you're not prepared to risk your very life for your "enemy" you have no right to speak to him of love. ~ Daughter
Many say they are called... but I am pretty convinced that with many of them it was the wrong number. ~ Project Peter
Get on my horse.
Working in the mineral exploration industry, our company primarily deals with the junior level mining and exploration companies (basically venture capital market). I own shares of some companies that we deal with but I at least know something of what they have. For the average joe, you have to wade through reports full of technical jargon and sort through the hyperbole.
It is only the cynic who claims “to speak the truth” at all times and in all places to all men in the same way, but who, in fact, displays nothing but a lifeless image of the truth… He dons the halo of the fanatical devotee of truth who can make no allowance for human weaknesses; but, in fact, he is destroying the living truth between men. He wounds shame, desecrates mystery, breaks confidence, betrays the community in which he lives, and laughs arrogantly at the devastation he has wrought and at the human weakness which “cannot bear the truth”. Dietrich Bonhoeffer, in Ethics.
I live here!
Man, that smells like insider trading. Be very careful.
Newbie
Years ago i traded some stocks. I bought a book about the stock market and away i went with real money. The first stock i purchased doubled almost overnight. Oh i should mention this was right at the end of the tech craze bubble. I was not so fortunate on my next trades and i ended up watching my holdings go down to basically zero. That was the end of stock market trading for me.
Then i got into forex. For all the wrong reasons and that has been dealt with. So now i take my time, learn what i can and enjoy the ride all though it is one of the more frustrating things i have experienced.
Once you learn your edge (system) and proper money management you are left with the most challenging aspect... psychology. The reality is that trading is more about you than the markets.
Forex is dangerous in the sense some brokers have been able to get away with shady behavior and getting their clients to part with their money with insane high leverage. However the flip side is that if you find a good broker you can trade with extremely small positions. I trade with 10 cents a point so i can handle losing 100 points in a day. I don't know if i will ever trade for a living but having it as a hobby for now is a challenge. I eliminated television watching and used that time to learn.
As righteous as Christ.
I am learning to trade the FX market. My cousin and ex-business partner are making a full time living at it. Sometimes I can see it and understand what's going on and at other times, I have no clue. Maybe one day I'll get it.
"May the Lamb that was slain receive the just reward for His sufferings." A quote by Moravian missionary that sold himself (along with a friend) into slavery to reach those that the slave owner prevented from hearing the gospel.
May I live for Him and not for me.
Get on my horse.
It is not insider trading. I am not in any director position. Also I am required to disclose any holdings I may have if I write a report on a project. Insiders are also defined as holding a certain percentage of the stock. Ultimately though I am in a sensitive position where I may have access to privileged information and could use that information sell or buy ahead of the curve. Professional, as well as personal, integrity forbid from doing that.
Last edited by teddyv; Aug 11th 2009 at 04:21 AM. Reason: extra words
It is only the cynic who claims “to speak the truth” at all times and in all places to all men in the same way, but who, in fact, displays nothing but a lifeless image of the truth… He dons the halo of the fanatical devotee of truth who can make no allowance for human weaknesses; but, in fact, he is destroying the living truth between men. He wounds shame, desecrates mystery, breaks confidence, betrays the community in which he lives, and laughs arrogantly at the devastation he has wrought and at the human weakness which “cannot bear the truth”. Dietrich Bonhoeffer, in Ethics.
As righteous as Christ.
That would be the legal definition of insider trading. You don't have to be a director. It's the same thing that Martha went to jail for. her broker gave her privileged information that wasn't available to the public and she did hard time for it.
"May the Lamb that was slain receive the just reward for His sufferings." A quote by Moravian missionary that sold himself (along with a friend) into slavery to reach those that the slave owner prevented from hearing the gospel.
May I live for Him and not for me.
Get on my horse.
I will look into it further, but this is really common in this and any venture capital market. Employees typically receive stock options and incentives as part of their compensation package. These people work for the company and would have at least some access to information the public does not have. Why would this be allowed if everyone is considered an insider? No one then should ever be allowed to buy or sell their stocks because they "might" have sold on some unknown information. Does every employee have to clear their sale with the SEC (in my case the BCSC). Maybe they do in the SEC case, but I haven't found any indication in my jurisdiction yet. As I said I'll ask some people here in the know.
Anyway it's a moot point for me. I am currently in no position whatsoever where I can be considered and insider.
It is only the cynic who claims “to speak the truth” at all times and in all places to all men in the same way, but who, in fact, displays nothing but a lifeless image of the truth… He dons the halo of the fanatical devotee of truth who can make no allowance for human weaknesses; but, in fact, he is destroying the living truth between men. He wounds shame, desecrates mystery, breaks confidence, betrays the community in which he lives, and laughs arrogantly at the devastation he has wrought and at the human weakness which “cannot bear the truth”. Dietrich Bonhoeffer, in Ethics.
As righteous as Christ.
There's nothing wrong with options or owning stock in the company you work for. Most executives do that. What they don't do, is sell based on what they know about the company. If they do, then they get in trouble. For instance, if they exercise those options and then 2 weeks later, big news comes out, they can get in trouble. So what most do, is have a set pattern of selling those options every quarter or every year at the same time. They just can't use the information they have inside the company to profit. That's illegal.
"May the Lamb that was slain receive the just reward for His sufferings." A quote by Moravian missionary that sold himself (along with a friend) into slavery to reach those that the slave owner prevented from hearing the gospel.
May I live for Him and not for me.
...and you shall live...
Probably worth clarifying that slightly, they don't trade based on what they know that isn't already in the public domain.
1Jn 4:1 NKJV Beloved, do not believe every spirit, but test the spirits, whether they are of God; because many false prophets have gone out into the world.
1Th 5:21-22 NKJV Test all things; hold fast what is good. (22) Abstain from every form of evil.
As righteous as Christ.
Good clarification. Thanks Tango.
"May the Lamb that was slain receive the just reward for His sufferings." A quote by Moravian missionary that sold himself (along with a friend) into slavery to reach those that the slave owner prevented from hearing the gospel.
May I live for Him and not for me.
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