Greenspan and Currencies - Delusional? - Page 2
Page 2 of 7311 FirstFirst 1234 ... LastLast
Results 11 to 20 of 3104

Thread: Greenspan and Currencies - Delusional?

  1. #11
    Kind of surprised to hear that coming from a music teacher.

    Any harmonic /or murry mathematics traders on the market?

    Quote Originally Posted by ;
    I have posted extensivley on this topic in other threads....

  2. #12
    I'd love to know, where Greenspan says that the market is arbitrary?
    What I know is that he believes that fundamental analysis is useless as you can not have a border with this appoach. 1 single individual can not have more information that the others.

    The second announcement I know is, that, if big banks earn a profit, it is due to their ability to market making, this means Quite simply they control the markets, e.g. they buy until everybody thinks it's going up and buying too, then they market suddenly, and the followers are being immobilized. That is how it works daily. (in both directions of course)

    for several of the innocent traders it's like coin tossing, because you can not know, what the boys will do alongside drive you nuts.

    Good luck!

  3. #13
    Considering the market is completely random simply tells me you do not understand how the markets work, have not put in the study time, and have not put in the display time. Saying I can't do this b/c the market is arbitrary is simply a cop-out...
    Why is a market? People, right? So are people's decisions arbitrary, lol? No...

  4. #14
    Quote Originally Posted by ;
    lol, really innocent remarks, you're not the first to create them and I doubt you are going to be the last! Perhaps you have heard of a thing called liquidity?

    Incidentally Greenspan was wrong about so many things, this is only one more example.

    There are plenty of traders making consistent profits from this market by analysing historic data and harnessing the likelihood of future price direction, it is not rocket science

    Anyway what's the story, why so skeptical?
    It does not appear unlikely to me , with daily turnover reaching 4 trillion or 4000 billion, that after 20 years or 19,200,000 BILLION dollars afterwards, it would be possible to extract 50 billion. Perhaps you believe this is too large? So let us say 20 billion/10/5/3/2/1?? Still it goes without saying that you would be able to make a ridiculous sum of money.

    No it is not rocket science - it is harder, it is hopeless, but it is based on luck. So all these traders you understand, who make consistent profits (let us say 2%-3% per month?) , are all going to be worth tens of millions of dollars or more? no? why not? If you ran into a bank and had access to a CONSISTENT system would you not put a considerable amount of money toward utilizing that system? If you conducted a company and had a item which was guaranteed to create a certain amount of profit over a particular time frame, do you not try to market this merchandise to the highest bidder?

    I have examined out A LOT of systems and the one thing which seems to possibly work is's countertrend trading but that's no fun because things go crazy every once in a while and the market will take you out. The more I think about it, the more it seems that FX is little more than a coin tossing contest because if it wasn't, it'd no longer work efficiently. And of all of the things Greenspan was wrong about, I do not believe this was one of them.

    please prove me wrong. Please inform me that profitable systems do exist and that I too can eliminate needless blindness in Africa.

  5. #15
    Quote Originally Posted by ;
    1:1 is better, just takes lots, lots of display time learn to follow pa, imho.
    Like I said, if you're able to make money consistently within this market you're on your way to earning tens of thousands or more throughout your career. Congrats if this is the situation!

  6. #16
    Quote Originally Posted by ;
    Originally Posted by
    In 2004, former Federal Reserve Chairman Alan Greenspan made the following announcement about currency trading in a speech before the Economic Club of New York:

    [I]”My experience is that exchange markets have become so efficient that virtually all appropriate information is embedded almost instantaneously in exchange rates to the point that anticipating movements...
    ok so you're suggesting Greenspan didn't mean what he said also it is or might be possible to make consistent profits that aren't based on fortune in this market. Would it not be sensible to assume you are taking this view since you believe that? And if you believe that then you must have proof that this is the case, or else you'd simply be hanging onto a false sense of what it means to'trade' in this market.

    And if you have proof you either must know somebody who you know that you can trust and then I would advise you to get this person to teach you that their way, since then you'd have the ability to develop a consistent track record which in turn would give you access to massive investment funds, then you can start watching the millions roll in! Or maybe you have a consistent money maker? Then I expect you wrote this post on your helicopter on your way to your own yacht that's on course for the humanitarian mission your foundation has decided to participate in. If not then I'm sure it will not be long.

    Hey I understand people reading this thread must find my statements pretty annoying by now but frankly, does what I'm stating not make sense? In case you can not demonstrate you have a consistent method, then you certainly don't have a consistent method. And if you don't have a consistent method, how long are you really going to'search' for?

  7. #17
    Quote Originally Posted by ;
    Its not only all about consistency.
    no? With all due respect, how could it not be? If a system does not have any part of consistency then should it be exchanged? The fact is that there needs to be some type of consistency. Like you said the turtles' strategy was profitable 3 of 12 weeks - which is an example of consistency. A system which does not have any measurable profitable consistency is not a system that is tradeable. It is a pattern generator.

  8. #18
    Quote Originally Posted by ;
    I have posted extensivley on this topic in different threads....
    Well put!

    But are you suggesting that there are ways to negate the market's randomness using greater timeframes? Or are you simply saying exactly what Greenspan did, the market makers are the only consistent winners whose profits are not based on chance?

  9. #19
    Quote Originally Posted by ;
    And they'd be right!

    The problem traders face is not knowing whether it is going to be non random so trades have to be based on the assumption that the market is the market is not always random but we have to trade it as if it was.

    Markets frequently move in certain spectacularly predictive ways with easily recognizable and exploitable patterns, maybe you just haven't seen these yet?
    These patterns are not predictable and as a result of this are only identifiable after they have happened. How do these facts help you to make money? Or will you somehow magically find the future and are therefore destined to make consistent profits guaranteeing you a life of unbelievable riches and eternal success?

  10. #20
    Quote Originally Posted by ;
    Believing the market is completely random only tells me you do not know how the markets operate, have not put in the study time, and have not put in the screen time. Saying I can not do this b/c that the market is random is simply a cop-out...
    Why is a market? Right, Folks? So are people's decisions completely random, lol? No...
    intriguing view. I think that it comes down to the simple fact that you can not CONSISTENTLY predict patterns so they appear randomly and because of this it's easily arguable that the market, for all intents and purposes, is perceived as a random set of events. And what's a system? It is a way in which to'perceive' a market.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
This website uses cookies
We use cookies to store session information to facilitate remembering your login information, to allow you to save website preferences, to personalise content and ads, to provide social media features and to analyse our traffic. We also share information about your use of our site with our social media, advertising and analytics partners.