The “efficient markets” theory is half right. The market’s mechanism for allocating prices is extremely fair. It’s a simple two-way auction process by which price moves over time to facilitate trade either up or down-an extremely rational, efficient process. The other half of the efficient market equation, however, is often wrong; people are seldom rational when they make financial decisions. The first step toward more profitable investing is to accept that market irrationality is due…
Benoit Mandelbrot and Richard L. Hudson spend good amount of time for making it understandable in the book “The (Mis)Behavior of Markets” “Markets are much riskier than we have been led to believe. They are prone to violent, unpredictable swings, and these swings are not mere anomalies but part of the natural order of things.” This quote highlights Mandelbrot’s critique of traditional models that underestimate market risk and fail to account for extreme events. “The…
I would constantly update this post because it is also evolving over time and I would also want to write about my failures. My findings are as precious as my successful findings.
The 13 Laws # 1 – Have A Game Plan When Trading… And Stick To It # 2 – Control Your Emotions At All Times # 3 – Stay Disciplined And Think Objectively # 4 – Don’t Trade Just To Trade # 5 – Never Think About Money When Trading # 6 – Winning Percentage Means Absolutely Nothing # 7 – Lose Like A Professional # 8 – Let Your Winners Run # 9 –…
Thanks to sites likewww.myfxbook.com and www.fxblue.com we have nearly infinite way of analyzing our trading performance. I generated an online results analysis page. https://ugurcandan.com/trading/ With the link provided you have a near real time analysis of my trades in MT4 terminal. This is extremely useful because trading companies archive your trades after 30 to 90 days. In such cases you loose your valuable learning potential and just left with results at monthly break down. I…
From: Fooled by Randomness by Nassim Nicholas Taleb The book is quoted by Fortune as “ One of the smartest books of all time”. Probably an over statement by still a very interesting read because you can both have an understanding of science, culture and psychology on trading. I would agree and disagree on some of his comments. All Fundamental comments I would agree but for the new era of AI and real time risk…
https://ugurcandan.com/mql5-signal-tracking-key-stats-per-month/ Link is the key stats of for the 196 signals that I am following. As of 28/May/2023: out of 195 tracked signals 77 discontinued. 32 in monthly loss with average -16%, 86 of them in monthly win with average +8%. 23 of them (best of the best) have a monthly gain of +20% in average. Ok one might have 20% monthly gain but is this a sustainable model? how does the growth look like…
If you have not watched some of those videos below.. Or if you do not know majority of those sites. You must re consider what you know about todays financial market opportunities or modern financial markets. Some names: Courtney Smith – Coach of Martin (Marty) Schwartz, also known as Buzzy, is a well-known Wall Street trader who has amassed a substantial fortune trading futures, stocks and options. He is also an author of the day…
Account Analysis 2101863271 You can view the results from FTMO site Link… During the Free Trial trading period, you’ve traded 9 trading days and so the objective for a minimum of 5 trading days was met. In total, you opened 91 positions, and on average, you traded 10.1 positions a day. Your success rate was 68.13%. This win rate was accompanied by a negative RRR (Reward to risk ratio) with the value 0.91. With a…