An art or a science
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تاریخ عضویت: 06/06/2011
Please share your opinions
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تاریخ عضویت: 11/01/2011
It's a profession. Although we traders do not create anything valuable, we are simply speculators. We are the ones who increase the liqudity at markets. So what I think trading is not an art, neither science, its a profession which could be learn. Only a few manage to reach the point when they become full-time traders, but its an another topic.
Anyway its interesting.
Keep it simple stupid
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تاریخ عضویت: 21/04/2011
Hi Richde. Welcome to fxstat. You really did a speedy posting :).
Interesting topic but its hard to say what is it actually..... how it can be a profession. More than 80% of the traders loose because they do not have knowledge. Maybe a few professional traders take it as a profession. I agree with "art of trading" to some extent because Knowledge is available on internet about everything. So many traders with the same knowledge cannot produce same results. We can say that it is the problem in implementation of that knowledge. A profession is something else where you need professional skills to be able to perform a job. In forex trading most of the traders are not at all professional so I cannot categorize it in profession.
I am still thinking what is it exactly.
Stick to your rules
ارسالها: 114
تاریخ عضویت: 11/01/2011
Hey, thanks for the welcome :).
I have to tell you I don't agree with you absoutely in your first lines. 80% of traders loose mostly because of the psychology, overtrading, overleveraged, greed, and not because they don't have the proper knowledge. It's an another thing they don't have a proper trading strategy which is backtested manually and don't have the rules, exact trading signals. Basically, the material of forex is not big.
Actually those are good points. I used the word "profession" because as I mentioned it could be learn, and some of traders can make a living of it. I think in fx you have to have professional skills (bit different from other jobs) like loosing a lot of money in cold blood, avoid your feelings psycho, and so on and so on.
Keep it simple stupid
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تاریخ عضویت: 16/05/2011
Basically the post topic should be Art vs Science vs Profession.
It is an art for those who do not have much knowledge about technical aspects of forex. They just view the trend of forex and trade according to that. If they succeed then it means they have the art of trading.
I cannot explain how we can classify it as a science but maybe mathematical aspect of forex (forecasting and analysing) can classify it as a science.
Professionalism is obviously present in forex trading. But only for those who are professional people. Percentage of professional traders is low. Most of the trading is done just by partial knowledge about trading.
After writing above lines, even I cannot conclude what the forex is actually.
ارسالها: 939
تاریخ عضویت: 21/04/2011
80% of traders loose mostly because of the psychology, overtrading, overleveraged, greed, and not because they don't have the proper knowledge
A person with proper knowledge will never overtrade or any other factor will not affect him. A person with proper knowledge will most likely be making a profit because he will be implementing his knowledge. Initially he may loose but with experience he will be on the winning side. I am talking about majority of traders with partial or almost no knowledge. Those traders beleive on "6th sense".
In profession there is always some professional degree or professional knowledge. If forex trading is a profession then I would say that people show the worst professional attitude in this profession.
Art of trading is something in which you can become successful if you have the art of it. Even Forex wizards have high difference in their profit making percentages.
Sasha......................you r confusing.
Stick to your rules
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تاریخ عضویت: 08/02/2011
Originally posted by SashaBasically the post topic should be Art vs Science vs Profession.
It is an art for those who do not have much knowledge about technical aspects of forex. They just view the trend of forex and trade according to that. If they succeed then it means they have the art of trading.
I cannot explain how we can classify it as a science but maybe mathematical aspect of forex (forecasting and analysing) can classify it as a science.
Professionalism is obviously present in forex trading. But only for those who are professional people. Percentage of professional traders is low. Most of the trading is done just by partial knowledge about trading.
After writing above lines, even I cannot conclude what the forex is actually.
very intersting addition with the topic i take trading as a art. not scince not a profession
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ارسالها: 158
تاریخ عضویت: 16/07/2011
Maybe trading is both an art and a science.
The ART, I think can be divided into two areas:
1) The trade setup, that being the drawing of trendlines, boxes, triangles and other candlestick patterns.
2) The actual placement of the entry stop and limit according to the previously recognised patterns and trendlines.
These things provide us with a picture of the market.
The SCIENCE
Trading using technical levels such as: support/resistance, fibonacci, pivots, Elliott Wave, etc for entries and exits.
Trading using this scientific and procedual approach is not exact, which, I suppose, is why we give room for market movement in our stops.
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It is possible that traders can use one or the other or a combination of the two areas.
ارسالها: 513
تاریخ عضویت: 08/02/2011
Originally posted by leebutMaybe trading is both an art and a science.
The ART, I think can be divided into two areas:
1) The trade setup, that being the drawing of trendlines, boxes, triangles and other candlestick patterns.
2) The actual placement of the entry stop and limit according to the previously recognised patterns and trendlines.
These things provide us with a picture of the market.
The SCIENCE
Trading using technical levels such as: support/resistance, fibonacci, pivots, Elliott Wave, etc for entries and exits.
Trading using this scientific and procedual approach is not exact, which, I suppose, is why we give room for market movement in our stops.
---
It is possible that traders can use one or the other or a combination of the two areas.
i think still i consider myself in art categry dear.
http://www.xynafx.com/ Xynafx ... fund managers and forex signal service providers Minimum investment for our Forex managed Account service is $2k that will be managed individually in one investors account. XynaFx signals As low as $26 per Month.
ارسالها: 385
تاریخ عضویت: 05/12/2011
its both art and science to me cuase knowlegde from both is needed
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تاریخ عضویت: 05/12/2010