Is Forex a Suitable Work from Home Job for Everybody?

How to Make Profit in Forex Trading: Eight Problems to Avoid

How to Make Profit in Forex Trading: Eight Problems to Avoid

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Many people erroneously believed that no one can make profit consistently through forex trading. Often times, they blame others for their losses while forgetting that they are responsible to decide whether their trade ends up in profit or loss.

“Champions never complain, they are too busy getting better”– John Wooden

For those who have the right mindset that they are going to be among the few who make a fortune by making profit consistently in the financial markets; they always take up the challenge to identify the problems and find solutions to improve themselves. They always have the inner drive and determination to find their trading mistakes and fix the problems which will help them to improve and become an expert trader. This positive attitude is very crucial in helping a loser to become a winner in forex trading. If people like Warren Buffet and George Soros can make a good life trading the financial markets, why can’t anyone who is ready to learn, consistently review and improve his/her trading plan, do it better?
From my own personal experience in trading the financial markets, I want to humbly share the following problems and really hope that it will help other traders to trade better and become winners in forex trading.
Although, there may be more, these are the Eight common problems I have encountered and heard many other traders struggle with in their process of making profit consistently in forex trading:
(1) Too early entry (Emotional triggers)
(2) Too late entry (Doubting your analysis)
(3) Too early exit (Panic Take Profit)
(4) Too late exit (Greedy delay)
(5) Holding on to losing trades against the market trend (Stubborn traps)
(6) Using too high lot sizes (Over leveraging your account)
(7) Poor money management (Investing more than 2% of your account balance or equity on one trade)
(8) Poor risk-reward ratio (Having too many open trades running simultaneously)

Steps to diagnose Trading Problems

(1) Check your trades at the end of each trading week; mostly on Saturday or Sunday evenings.
(2) Review your trading log or Account History. Make sure you are very honest and practical with yourself. This is about money. It is better to criticize yourself very hard than to regret losing your hard-earned money due to cheap errors or mistakes.
By honestly following the steps above, you should be able to identify any of the Eight Common problems listed above. This will help you to know which of the problems is most commonly affecting your trading outcome or reducing your profit.
When you have successfully discovered this highly important problem or problems (if more than one), then you can focus on solving them sequentially, starting from the most frequent to the least common as revealed during the review of your trading log or Account history weekly.
It is important that you never stop conducting the weekly review, so as to constantly learn and improve for better trading. Doing this consistently will help you to personally understand your own psychology and problematic behaviours or habits and also see if you are improving or not. With your commitment to this self-improvement process, you will surely become an expert in forex trading and your capacity to make profit consistently will improve significantly. Then you will become a forex winner for life!

“Learn from your losses, and improve your analysis for higher profit”.


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Summary
If you can carefully follow the steps and work towards avoiding the Eight Common problems mentioned above, there is higher chance that you will be able to trade better and achieve more profits in Forex Trading. Most especially when you choose a reliable forex broker like OlympTrade due to their unique and innovative trading platform.
Considering my years of trading experience using the OlympTrade website or mobile App, I sincerely assure you of making consistent profits, if you take personal responsibility by identifying and fixing the Eight Common problems highlighted above. By now, I hope you are more confident that you can make profits consistently and live a good life through forex trading.
Thanks for reading and adding your own comment to this article.
Trade to win!
submitted by MxLawal to u/MxLawal [link] [comments]

How to get started in Forex - A comprehensive guide for newbies

Almost every day people come to this subreddit asking the same basic questions over and over again. I've put this guide together to point you in the right direction and help you get started on your forex journey.

A quick background on me before you ask: My name is Bob, I'm based out of western Canada. I started my forex journey back in January 2018 and am still learning. However I am trading live, not on demo accounts. I also code my own EA's. I not certified, licensed, insured, or even remotely qualified as a professional in the finance industry. Nothing I say constitutes financial advice. Take what I'm saying with a grain of salt, but everything I've outlined below is a synopsis of some tough lessons I've learned over the last year of being in this business.

LET'S GET SOME UNPLEASANTNESS OUT OF THE WAY

I'm going to call you stupid. I'm also going to call you dumb. I'm going to call you many other things. I do this because odds are, you are stupid, foolish,and just asking to have your money taken away. Welcome to the 95% of retail traders. Perhaps uneducated or uninformed are better phrases, but I've never been a big proponent of being politically correct.

Want to get out of the 95% and join the 5% of us who actually make money doing this? Put your grown up pants on, buck up, and don't give me any of this pc "This is hurting my feelings so I'm not going to listen to you" bullshit that the world has been moving towards.

Let's rip the bandage off quickly on this point - the world does not give a fuck about you. At one point maybe it did, it was this amazing vision nicknamed the American Dream. It died an agonizing, horrible death at the hand of capitalists and entrepreneurs. The world today revolves around money. Your money, my money, everybody's money. People want to take your money to add it to theirs. They don't give a fuck if it forces you out on the street and your family has to live in cardboard box. The world just stopped caring in general. It sucks, but it's the way the world works now. Welcome to the new world order. It's called Capitalism.

And here comes the next hard truth that you will need to accept - Forex is a cruel bitch of a mistress. She will hurt you. She will torment you. She will give you nightmares. She will keep you awake at night. And then she will tease you with a glimmer of hope to lure you into a false sense of security before she then guts you like a fish and shows you what your insides look like. This statement applies to all trading markets - they are cruel, ruthless, and not for the weak minded.

The sooner you accept these truths, the sooner you will become profitable. Don't accept it? That's fine. Don't bother reading any further. If I've offended you I don't give a fuck. You can run back home and hide under your bed. The world doesn't care and neither do I.

For what it's worth - I am not normally an major condescending asshole like the above paragraphs would suggest. In fact, if you look through my posts on this subreddit you will see I am actually quite helpful most of the time to many people who come here. But I need you to really understand that Forex is not for most people. It will make you cry. And if the markets themselves don't do it, the people in the markets will.

LESSON 1 - LEARN THE BASICS

Save yourself and everybody here a bunch of time - learn the basics of forex. You can learn the basics for free - BabyPips has one of the best free courses online which explains what exactly forex is, how it works, different strategies and methods of how to approach trading, and many other amazing topics.

You can access the BabyPips course by clicking this link: https://www.babypips.com/learn/forex

Do EVERY course in the School of Pipsology. It's free, it's comprehensive, and it will save you from a lot of trouble. It also has the added benefit of preventing you from looking foolish and uneducated when you come here asking for help if you already know this stuff.

If you still have questions about how forex works, please see the FREE RESOURCES links on the /Forex FAQ which can be found here: https://www.reddit.com/Forex/wiki/index

Quiz Time
Answer these questions truthfully to yourself:

-What is the difference between a market order, a stop order, and a limit order?
-How do you draw a support/resistance line? (Demonstrate it to yourself)
-What is the difference between MACD, RSI, and Stochastic indicators?
-What is fundamental analysis and how does it differ from technical analysis and price action trading?
-True or False: It's better to have a broker who gives you 500:1 margin instead of 50:1 margin. Be able to justify your reasoning.

If you don't know to answer to any of these questions, then you aren't ready to move on. Go back to the School of Pipsology linked above and do it all again.

If you can answer these questions without having to refer to any kind of reference then congratulations, you are ready to move past being a forex newbie and are ready to dive into the wonderful world of currency trading! Move onto Lesson 2 below.

LESSON 2 - RANDOM STRANGERS ARE NOT GOING TO HELP YOU GET RICH IN FOREX

This may come as a bit of a shock to you, but that random stranger on instagram who is posting about how he is killing it on forex is not trying to insprire you to greatness. He's also not trying to help you. He's also not trying to teach you how to attain financial freedom.

99.99999% of people posting about wanting to help you become rich in forex are LYING TO YOU.

Why would such nice, polite people do such a thing? Because THEY ARE TRYING TO PROFIT FROM YOUR STUPIDITY.

Plain and simple. Here's just a few ways these "experts" and "gurus" profit from you:


These are just a few examples. The reality is that very few people make it big in forex or any kind of trading. If somebody is trying to sell you the dream, they are essentially a magician - making you look the other way while they snatch your wallet and clean you out.

Additionally, on the topic of fund managers - legitimate fund managers will be certified, licensed, and insured. Ask them for proof of those 3 things. What they typically look like are:

If you are talking to a fund manager and they are insisting they have all of these, get a copy of their verification documents and lookup their licenses on the directories of the issuers to verify they are valid. If they are, then at least you are talking to somebody who seems to have their shit together and is doing investment management and trading as a professional and you are at least partially protected when the shit hits the fan.


LESSON 3 - UNDERSTAND YOUR RISK

Many people jump into Forex, drop $2000 into a broker account and start trading 1 lot orders because they signed up with a broker thinking they will get rich because they were given 500:1 margin and can risk it all on each trade. Worst-case scenario you lose your account, best case scenario you become a millionaire very quickly. Seems like a pretty good gamble right? You are dead wrong.

As a new trader, you should never risk more than 1% of your account balance on a trade. If you have some experience and are confident and doing well, then it's perfectly natural to risk 2-3% of your account per trade. Anybody who risks more than 4-5% of their account on a single trade deserves to blow their account. At that point you aren't trading, you are gambling. Don't pretend you are a trader when really you are just putting everything on red and hoping the roulette ball lands in the right spot. It's stupid and reckless and going to screw you very quickly.

Let's do some math here:

You put $2,000 into your trading account.
Risking 1% means you are willing to lose $20 per trade. That means you are going to be trading micro lots, or 0.01 lots most likely ($0.10/pip). At that level you can have a trade stop loss at -200 pips and only lose $20. It's the best starting point for anybody. Additionally, if you SL 20 trades in a row you are only down $200 (or 10% of your account) which isn't that difficult to recover from.
Risking 3% means you are willing to lose $60 per trade. You could do mini lots at this point, which is 0.1 lots (or $1/pip). Let's say you SL on 20 trades in a row. You've just lost $1,200 or 60% of your account. Even veteran traders will go through periods of repeat SL'ing, you are not a special snowflake and are not immune to periods of major drawdown.
Risking 5% means you are willing to lose $100 per trade. SL 20 trades in a row, your account is blown. As Red Foreman would call it - Good job dumbass.

Never risk more than 1% of your account on any trade until you can show that you are either consistently breaking even or making a profit. By consistently, I mean 200 trades minimum. You do 200 trades over a period of time and either break-even or make a profit, then you should be alright to increase your risk.

Unfortunately, this is where many retail traders get greedy and blow it. They will do 10 trades and hit their profit target on 9 of them. They will start seeing huge piles of money in their future and get greedy. They will start taking more risk on their trades than their account can handle.

200 trades of break-even or profitable performance risking 1% per trade. Don't even think about increasing your risk tolerance until you do it. When you get to this point, increase you risk to 2%. Do 1,000 trades at this level and show break-even or profit. If you blow your account, go back down to 1% until you can figure out what the hell you did differently or wrong, fix your strategy, and try again.

Once you clear 1,000 trades at 2%, it's really up to you if you want to increase your risk. I don't recommend it. Even 2% is bordering on gambling to be honest.


LESSON 4 - THE 500 PIP DRAWDOWN RULE

This is a rule I created for myself and it's a great way to help protect your account from blowing.

Sometimes the market goes insane. Like really insane. Insane to the point that your broker can't keep up and they can't hold your orders to the SL and TP levels you specified. They will try, but during a flash crash like we had at the start of January 2019 the rules can sometimes go flying out the window on account of the trading servers being unable to keep up with all the shit that's hitting the fan.

Because of this I live by a rule I call the 500 Pip Drawdown Rule and it's really quite simple - Have enough funds in your account to cover a 500 pip drawdown on your largest open trade. I don't care if you set a SL of -50 pips. During a flash crash that shit sometimes just breaks.

So let's use an example - you open a 0.1 lot short order on USDCAD and set the SL to 50 pips (so you'd only lose $50 if you hit stoploss). An hour later Trump makes some absurd announcement which causes a massive fundamental event on the market. A flash crash happens and over the course of the next few minutes USDCAD spikes up 500 pips, your broker is struggling to keep shit under control and your order slips through the cracks. By the time your broker is able to clear the backlog of orders and activity, your order closes out at 500 pips in the red. You just lost $500 when you intended initially to only risk $50.

It gets kinda scary if you are dealing with whole lot orders. A single order with a 500 pip drawdown is $5,000 gone in an instant. That will decimate many trader accounts.

Remember my statements above about Forex being a cruel bitch of a mistress? I wasn't kidding.

Granted - the above scenario is very rare to actually happen. But glitches to happen from time to time. Broker servers go offline. Weird shit happens which sets off a fundamental shift. Lots of stuff can break your account very quickly if you aren't using proper risk management.


LESSON 5 - UNDERSTAND DIFFERENT TRADING METHODOLOGIES

Generally speaking, there are 3 trading methodologies that traders employ. It's important to figure out what method you intend to use before asking for help. Each has their pros and cons, and you can combine them in a somewhat hybrid methodology but that introduces challenges as well.

In a nutshell:

Now you may be thinking that you want to be a a price action trader - you should still learn the principles and concepts behind TA and FA. Same if you are planning to be a technical trader - you should learn about price action and fundamental analysis. More knowledge is better, always.

With regards to technical analysis, you need to really understand what the different indicators are tell you. It's very easy to misinterpret what an indicator is telling you, which causes you to make a bad trade and lose money. It's also important to understand that every indicator can be tuned to your personal preferences.

You might find, for example, that using Bollinger Bands with the normal 20 period SMA close, 2 standard deviation is not effective for how you look at the chart, but changing that to say a 20 period EMA average price, 1 standard deviation bollinger band indicator could give you significantly more insight.


LESSON 6 - TIMEFRAMES MATTER

Understanding the differences in which timeframes you trade on will make or break your chosen strategy. Some strategies work really well on Daily timeframes (i.e. Ichimoku) but they fall flat on their face if you use them on 1H timeframes, for example.

There is no right or wrong answer on what timeframe is best to trade on. Generally speaking however, there are 2 things to consider:


If you are a total newbie to forex, I suggest you don't trade on anything shorter than the 1H timeframe when you are first learning. Trading on higher timeframes tends to be much more forgiving and profitable per trade. Scalping is a delicate art and requires finesse and can be very challenging when you are first starting out.


LESSON 7 - AUTOBOTS...ROLL OUT!

Yeah...I'm a geek and grew up with the Transformers franchise decades before Michael Bay came along. Deal with it.

Forex bots are called EA's (Expert Advisors). They can be wonderous and devastating at the same time. /Forex is not really the best place to get help with them. That is what /algotrading is useful for. However some of us that lurk on /Forex code EA's and will try to assist when we can.

Anybody can learn to code an EA. But just like how 95% of retail traders fail, I would estimate the same is true for forex bots. Either the strategy doesn't work, the code is buggy, or many other reasons can cause EA's to fail. Because EA's can often times run up hundreds of orders in a very quick period of time, it's critical that you test them repeatedly before letting them lose on a live trading account so they don't blow your account to pieces. You have been warned.

If you want to learn how to code an EA, I suggest you start with MQL. It's a programming language which can be directly interpretted by Meta Trader. The Meta Trader terminal client even gives you a built in IDE for coding EA's in MQL. The downside is it can be buggy and glitchy and caused many frustrating hours of work to figure out what is wrong.

If you don't want to learn MQL, you can code an EA up in just about any programming language. Python is really popular for forex bots for some reason. But that doesn't mean you couldn't do it in something like C++ or Java or hell even something more unusual like JQuery if you really wanted.

I'm not going to get into the finer details of how to code EA's, there are some amazing guides out there. Just be careful with them. They can be your best friend and at the same time also your worst enemy when it comes to forex.

One final note on EA's - don't buy them. Ever. Let me put this into perspective - I create an EA which is literally producing money for me automatically 24/5. If it really is a good EA which is profitable, there is no way in hell I'm selling it. I'm keeping it to myself to make a fortune off of. EA's that are for sale will not work, will blow your account, and the developer who coded it will tell you that's too darn bad but no refunds. Don't ever buy an EA from anybody.

LESSON 8 - BRING ON THE HATERS

You are going to find that this subreddit is frequented by trolls. Some of them will get really nasty. Some of them will threaten you. Some of them will just make you miserable. It's the price you pay for admission to the /Forex club.

If you can't handle it, then I suggest you don't post here. Find a more newbie-friendly site. It sucks, but it's reality.

We often refer to trolls on this subreddit as shitcunts. That's your word of the day. Learn it, love it. Shitcunts.


YOU MADE IT, WELCOME TO FOREX!

If you've made it through all of the above and aren't cringing or getting scared, then welcome aboard the forex train! You will fit in nicely here. Ask your questions and the non-shitcunts of our little corner of reddit will try to help you.

Assuming this post doesn't get nuked and I don't get banned for it, I'll add more lessons to this post over time. Lessons I intend to add in the future:
If there is something else you feel should be included please drop a comment and I'll add it to the above list of pending topics.

Cheers,

Bob



submitted by wafflestation to Forex [link] [comments]

The Value of an OMG token, and Current Market Risks

I've seen a few posts over the past few days regarding where an OMG token actually derives its value from, and what would prevent another major company from coming along, dumping money into a payment network, and eating OMG's lunch. There was also some concern about Omise not being legally obligated to "honor" the OMG token, and the potential for them to just abandon the project in favor of something else.
These posts have been a breath of fresh air, as I feel that for a while, this sub was overly euphoric about the OMG project. Reading these skeptical posts show that the people in the market have weighed some of the risks the project is facing, which suggests that they're discerning investors, and not just moonkids. I wanted to take some time to address these concerns, though. Although I don't have any inside info, and although I don't have any formal economic or financial training, analyzing financial networks has been a bit of a hobby of mine for a while. Take this with a grain of salt.
1) The benefits of decentralization - Although Omise is a very mature company in the crypto world, it is a small fish in the global financial arena. That space is in a hyper-competitive world of many small/medium payment processors, where companies struggle to differentiate themselves and compete on an economies of scale standpoint with the massive players like Visa, Paypal, and Mastercard.
Building and maintaining a network is expensive. I couldn't even hazard a guess of the security costs Visa foots every year, but I expect that these costs (combined with the costs of maintaining the network infrastructure) are comparable to the entire market cap of OMG. This cost crushes any small small player, as some costs are fixed. For example, security measure X may cost $20M whether your company's revenue is $10B or $30M. With fixed costs such as this, it's very difficult to become a "big player" while maintaining control of your payment network.
By decentralizing its network with OMG and PoS, Omise does not need to have anywhere near the same built in security. The whole idea of a decentralized network is that there is no single point of failure. There is no server to hack, and there is no bank to rob. As such, one doesn't need security guards, network engineers, firewalls or DDOS protection. They also don't need to pay the associated costs of these measures. By decentralizing, they can charge an x% fee to use the network, and still remain profitable. A centralized network may have to charge a 2x% fee to meet their higher operating costs. All else being equal, which network will a consumer use for a transaction? The answer is the cheaper one, every time.
Google is a massive company. Visa is a massive company. Apple is a massive company. They will never get approval from their corporate board to develop a network that they don't explicitly control. As such, their op costs will always be higher then Omise/OMG's, regardless of scales of economy. In short, the decentralized aspect of Omise's network after OMG and PoS are complete not only differentiates them from the many other small players in the e-wallet scene, it puts them in an entire different field, even when compared to what major companies can offer the consumer.
2) Why Omise wouldn't abandon OMG - I've seen some worries about Omise getting greedy down the road once money's rolling in, abandoning OMG, and just using "something else" that they control exclusively to validate the network. This completely misses the point of what Omise is trying to do. As laid out in point 1, Omise's entire product is the decentralized network. If they switched over to token LOL that they had a large share of (50%+), they would introduce a single point of failure to the network. This would come with the costs of infrastructure and security, which would put them directly back in competition with the other e-wallets and Visa/MC. It would also completely erode the trust of network validators, making it impossible to develop a PoS secured network with the LOL token, because who would ever invest in a project headed by Omise after what they did to OMG?
In short, abandoning OMG would mean abandoning the entire product. It would be business suicide.
3) Some other group taking the code and copying OMG - This is a fair concern, but we can't lose sight of what Omise is building. The product isn't the code... it's the network. If OMG becomes successful, and company X chooses to build a clone around a new token ROFL, this will not spell doom for OMG.
Omise has a network of merchants who will bring actual transactions to the network. A widely dispersed network of OMG stakers who have some real skin in the game will bring actual security. ROFL could try to emulate it, but all else being equal why would anyone use the ROFL network? You can put Coca-Cola in a differently branded bottle, but doing this will not result in the creation of a new $42B soft drink company. No matter how your off-brand tastes, it's just not Coca-Cola.
In short, OMG's product isn't the code... it's the network. The code is just a tool. The same way that I can't reproduce a Van Gogh even if you gave me the right paints and brushes, ROFL couldn't replicate the OMG network using the same code.
So, TLDR, stay speculative. There are HUGE risks in this space. The above arguments are based on all else being equal. All things are NOT equal. Visa and MC have massive advertising budgets, and consumer recognition is a huge determinant of a product's success. It's possible that a ROFL network might be a better product than the Omise network. Continue to watch for risks, and continue to watch for opportunities.
At the same time, don't lose sight of the remarkable project that Omise is working on right now. This could be huge. If we can do the same thing as Visa, Paypal, Mastercard, Coinbase, AND the global FOREX system, I can't even speculate what an appropriate market cap would be. If we can do all of those things, but cheaper than the current mechanisms... My God.
The product is decentralization. The product is the network. Omise won't abandon this. It can't be copied. It can't be beat just with deep pockets. It could be huge.
Stay speculative... but let your inner moon-kid out every once in a while.
submitted by psytokine_storm to omise_go [link] [comments]

USI Tech

I wrote this to a friend who attempted to recruit me into USI Tech.
heres my opinion
USI Tech has a lot of similarities with very problematic business models.
its ownership has problematic connections; it operates a multilevel marketing model that relies on the recruitment of new investors; i havent seen convincing proof that their software truly works the way they say it works.
ive found a lot of cloak and dagger having done a couple weeks of research on the company and my conclusion is that
for me personally there are too may red flags to invest. ive consumed a lot of material on the subject of their legitimacy from both sides of the argument. this is a complex question and it has a complex answer.
the objective truth of whether or not the company is a scam will be regarded as a matter of opinion until history reveals itself; as of right now you believe they are an honest enterprise, and i disagree. that is totally fine, we are both friends and we respect eachothers opinions and we want the best for one another; either of us could be wrong and it won't affect our friendship.
for me, the decision to forego the investment came from these red flags:
1.) Who. its hard to get an official document of exactly who owns the company however these are a few names that come up as people who have either seemed to own it or have at one point promoted it, all of which cast shade over themselves: Mike Kiefer, Ralf Gold, Joao Severino, Charles Scoville.
USI Tech is registered in Dubai and while that is not problematic on its own, there are devastating amounts of internet ponzis registered or operating out of Dubai, specifically foreign exchange trading scams.
2.) How. multilevel marketing. i despise MLM, i believe it is a predatory recruitment method that exploits people's hope and greed. while pyramid schemes can make money, very very very very very often the actual money making mechanism is the recruitment of new members and their subsequent purchase investments. even with a really shitty product you can make this go far so long as the hype is strong enough to feed recruitment.
my family was ruined when i was ten after my parents claimed bankrupcy over a zealous series of investments in Melaluca, an organic lotions MLM. this will always affect my bias.
3.) What. USI Tech's bitcoin product, what is it? do they offer a crypto trading software that works like their forex robot? as far as i can tell, there is no direct evidence of the actual trades that their software allegedyly engages in. my bottom line is here i can't come up with any evidence of a tangible product that truly does what they say it does which is problematic because they are offering a ROI which is apparently based on this robot's performance. moreover, if USI Tech is attempting some clever loophole trickery to avoid having registered with the SEC for selling securities, i have no idea what it is and that is alarming.
finally, 4.) Why. ponzi. if you do not know how a ponzi scheme works on a technical level, learn it, it is very simple. a multilevel marketing company out of Dubai that offers a cloaked software product raises supreme concern for me. their shelflife looks to have been extended by having added an anonymous and unregulated currency into the mix.
i don't doubt that at some level they are trying to make honest money, maybe that is what their mining operation is about. if they start offering cloud mining, that will be another red flag.
money can be made in a ponzi, i just believe its dishonest money. the operative is to discontinue reinvestment at a safe time. i cant put my btc in it because i believe it will contribute to the propagation of the business, which i believe to be malevolent.
__
for me, the magic is in bitcoin. not a robot that trades bitcoin. not a robot that trades in fiat markets.
i dont even speculate in arbitrage because the magic isnt even in the investment opportunity.
if what they say is true, and there is a robot that can consistently pull value out of crypto markets, then that is an innovative and lucrative achievement, but i don't buy it. if they use a robot to pull value out of forex, then my investment is directly participating in that system of currency that i don't trust.
you're a good dude, and obviously i have no hard feelings about your involvement, you will make money in it even which is great. like i said you can still make money in it and of course its tempting to invest so i might even buy a pack depending on how greedy i get, but my opinion isn't likely to change about the nature of USI Tech until i learn more.
submitted by beartowitness to Scams [link] [comments]

(Reboot) ELI5 on how China fucked their own economy, chapter 6

OK Yesterday's HCFTHE was a big let down. I read on the next few chapters and I feel like there's no more point in translating anymore because the author's coherence is slipping.
This is a reboot. From here on, it's all cruise speed. No translating, it's all me!
(Translated) Chapter 1
(Translated) Chapter 2
(Translated) Chapter 3
(Translated) Chapter 4
(Translated) Chapter 5
Chapter 6: RMB internationalization, a dream? a future?
RMB internationalization. You've heard of RMB. We all have, the legend, the curses. Some foolishness about a currency that never devalues. A closed currency. Buried beneath an opaque monetary policy... a bald, aging portrait of Mao luring investors to their dreams. An illusion that you can begin again, change your fortunes. Issuing them, though, that's not the hard part. It's internationalization.
(Sorry been playing A LOT of fallout. Production is down 50% because half my office are gone and the other half...are playing with me. Seriously, fuck Chinese New year.)
Except for the face culture, RMB internationalization is pretty much a national goal of China. To have their currency achieve global status will make it a rival currency for the USDollar, much like the Euros...except it's Asian. An Asian euro is crucial for China to establish its asiaphere influence zone. Having China enter IMF's basket of currencies is just a first step.
Before we talk about "how", let's talk "why". Why is it important for RMB to go global. For this we will need a deep understanding of world economics, but to dumb it down to ELI5 levels, we'll simplify it down as following:
World domination.
Wow wow wow holy fuck upads what the fuck!? This escalated quickly!
Sorry, but this is a fact. The British Pound, once served as the world's premier reserve currency, shaped the British Empire where the sun never. In fact, UK still hold [14 overseas territories[(https://archive.org/stream/09LONDON1039/09LONDON1039_djvu.txt), and the sun never sets on all fourteen British territories at once. Glory to the queen!
OK let's double time, here's a short list of goals that RMB internationalization can help achieve:
  1. Debt. Chinese companies have a lot of debt in USD. As of right now China don't want RMB to devalue because it would make debts harder to pay.
  2. Getting rid of forex risk. Self explained.
  3. Exports. With all China's debts in RMB there will be no consequence in devaluing the RMB. Will you pay $400 for a Huawei smartphone? No? How about $100? Cheaper price, it helps boosts sales volume. A lot.
  4. Getting rid of language barrier. If you look up most common language on harmony it lists Chinese with the most number of speaker s in the world, followed by Spanish, then English. Guess what language is most common in the business world? English. Guess what language does world reserve currency countries speak? English.
  5. Getting rid of autistic monkeys ESL teachers. Having RMB as a global currency will help China demand their business partners to start speaking Chinese, giving China home field advantage. The reason ESL teachers are needed is because China needs to do business in English. Seriously why the fuck do I need to learn English if I'm not gonna do business?
  6. Better politics. With foreign languages kicked out of their curriculum, the Chinese population can spend more time learning useful things, such as how to worship the communist party Seriously, learning how to think politically is a mandatory subject in high school curriculum, as well as gaokao.
  7. Better economics.
Now on the spot light. Everyone who are asking me to talk about silk road start reading here.
Right now, China is in a tough spot with their overproduction problem. Here's a flow chart, from the start to now:
  1. Steel industries fighting to get into the market
  2. Too many steel suppliers leads to overproduction
  3. One steel suppliers try to eliminate competitions by driving prices down.
  4. Every steel supplier does the same.
  5. Prices eventually go so low, sales price is lower than production price.
  6. Every steel suppliers are now religions, praying their competitions will go bankrupt first so they can one day dominate the market.
  7. CCP cracks down on religion, prayers not answered. Steel suppliers now in the negative, have to borrow money from banks.
  8. Banking regulations stats they can only lend money to suppliers who are in business, i.e. have production and sales. Nobody can sack their workers and nobody can let their workers sit idle because it is also against the law to have idle workers.
  9. Death spiral: Lending leads to production, production leads to loss, loss leads to lending.
China is not as stupid as you think. They know how supply and demand works. They did not foresee the death spiral because there is no precedent. In normal cases supply-demand imbalance even out naturally by supply side shutting down due to lack of profit. But this is China. Steel makers are not investing their own money in the business, they are getting their source of funds from the government are. They do not care if their factories do not turn a profit. Afterall, it's not their own business.
"China is different." Damn right you are. China is the only country in the WTO whose majority of the population lacks independent thinking. The Chinese hierarchy system...it's a convenience. It tells you where to go, what to do, dulls your brain. The party wants us to make steel, I make steel, you make steel, everyone make steel! Everyone apply for a job for the steel making industry and everyone get subsidy from the government! Everyone drive down prices and everyone borrow money! Because the party says we need to make steel.
To fix this death spiral, China needs a larger demand, and if they cannot create demand among themselves, they have to create demand among foreign countries...and there is no way in hell the Americans and Europeans will accept Chinese quality steel.
So, turning their eye to Iran, Pakistan and other developing countries. Cue the one belt, one road protocol. Here's their pitch, dumbed down:
China: Do you want GDP? Do you want groooowth? Learn from us! Build bridges! We can sell you steel at half price! Not like greedy Europeans.
Really, that's it. Building infrastructure is one of the fastest way to bump your GDP, even if they end up useless later on. If China can sell their steel to those countries, they can effectively get rid of a lot of overproduction, maybe even evening out the supply-demand imbalances with the increase in demand!
Two obstacles here.
These developing countries have their own currency, and their other currency is in the form of foreign exchange, in USD. Foreign exchange risk still applies here. Secondly, because they are developing countries...often they don't have the money.
The solution: lend them money. With RMB. Through the Asia Infrastructure Investment Bank. This is going to kill 3 birds with one stone.
  1. Provide capital...provide a means to demand for things. The steel makers can now make a sale, easing oversupply problem finally.
  2. Weaken USD status, strengthen RMB status. Take loan out in RMB, repay with RMB...except you don't have RMB in your reserves. You take your USD from your foreign reserves, and exchange for RMB, because with closer ties with China supplying your every needs, there is no reason to be keeping those USDollars. Although AIIB says it's going to offer USD, Euro and RMB, you bet your ass that they are going to offer some very good conditions on taking loans out in RMB...the potential of further devaluation of RMB is already very attractive, I wonder what else they can add.
  3. Debt settlement. China can now use your USD to repay your debt (fun fact: AIIB lending terms are on a 3 year basis, so they will be collecting their USD in 2019----Guess when the majority of China's foreign debts are due? 2020. Their timing is just perfect).
  4. Positive cycle: Initial lending leads to sales of steel, sales of steel leads to infrastructure building, infrastructure building leads to more sales of other materials, which leads to more lending...the whole cycle leads to weaker USD status in these countries and strong RMB status.
Whew! That's a lot of research! Now that we got the AIIB out of the way, one belt is partially explained but to those who don't get it, high speed rail uses a lot of steel, and is considered infrastructure.
Now that we've got AIIB and one belt under the belt, the last that remains: one road. This is when I'm going into /conspiracy level shit talking and I'm sure I'll be generating a lot of downvotes, so I'll keep it skippy. Here's a list of problems are facing that can be solved with one road(sea silk road):
  1. Over production
  2. Economy focused along shorelines
  3. Dependency on natural resources from hostile foreign forces.
Here's how one road will help them solve these problems:
  1. Trade to solve overproduction, already mentioned above.
  2. Give China an excuse to exercise more controls on the sea, such as the entire South China Sea.
  3. This is the most important. Control of sea routes will allow China to prioritize their freight routes over other countries. While SCS is going to be free, it will be "free with Chinese characteristics". Freights from China are going to flood the SCS and take up a lot of queue space in sea routes shared with other countries, namely Brunei, India, Indonesia, Japan, Korea, Malaysia, Philippines, Taiwan, Phili, Indonesia, Taiwa, Vietnam, etc. If you have ever tried queuing with the Chinese, you know how this will end.
  4. Fuck yeah.
submitted by upads to China [link] [comments]

Cocaine and Hookers: Flushing out the bad money - Reasons for the boom, and why the Drop is good for Bitcoin

It's been a turbulent ride these last few weeks, we've seen prices reach a peak of $266, and problems at MtGox crash a market that was sure to rise and rise were it not for technical constraints.
I personally expected us to see it plateau at around $100, but as I write this we are seeing bitcoin drop to its lowest point in awhile - $56. Today is Tuedsay, which means most BTC holders with accounts at MtGox would have gotten online during work hours yesterday. We all expected a rise. So why the drop?
To answer this question, first I urge you to do some background reading.
British Traders Have Discovered BitCoin - BusinessInsider
The business insider article above, printed last April, cites that up to 90% of London traders were actively involved in the bitcoin market "looking for a quick 2000%". This means that accounts associated with Morgan Stanley and Goldman Sachs in London and New York had amassed a great deal of bitcoin wealth (buying in as they did at around $4.88).
The Telegraph Article "Financial crisis caused by too many bankers taking cocaine, says former drugs tsar" recently published in the Telegraph offers us a rare insight into what has gone so wrong in the world of finance.
Crisis Caused By Bankers Taking Too Much Cocaine Says Former UK Drugs Tsar - The Telegraph
David Nutt, the former UK Government drugs tsar, who was sacked after claiming that horse riding was as safe as taking ecstasy (lulz) said that too many bankers who took the drug were “overconfident” and so “took more risks” and said that not only did it lead to the current crisis in this country, but also the 1995 collapse of Barings bank.
He said cocaine was perfect for their "culture of excitement and drive and more and more and more", adding: “Bankers use cocaine and got us into this terrible mess. It is a 'more' drug."
So, let's rewind 12 months…At the time there were very few 'legit' online places to spend bitcoin: the Silk Road and Satoshi Circle were about the only place these traders could spend their accumulated BTC wealth. This was a marriage made in heaven - not only did bitcoin give these greedy traders the means to make 'quick 2000%'s' at the expense of those die-hard bitcoin supporters in it for the long haul, but it also provided a means for them to fuel their lavish excesses via the Silk Road, offering, as it does, a safer and cheaper alternative to buying street drugs.
You can imagine them corralled around a computer, fuelled by the white stuff, powered by arrogance and greed, thinking their experience in the Stock Markets of the world would be enough to easily outsmart the neck beards that had had the audacity to enter 'their' world with the revolutionary concept we call decentralised currency. They would have course have had little regard for the beauty of the system that Satoshi invented, or it's utility for ending the senseless debasement of the lives ordinary folk, that has resulted from their mess. Hedonists seeking only highs from hookers and coke very rarely stop to look around at the problems in the world and wonder whether it could be fixed.
Certainly, the majority of those traders wouldn't have perceived bitcoin as an existential threat to their way of life, and yet that is exactly what it represents. Rest assured that you can be certain that after all the media coverage of the last few weeks, if they didm't know before, they definitely know now just what a threat bitcoin poses. The wealth they have accumulated through excess and greed is under the hammer, their jobs and lifestyles are on borrowed time, and that's why we will see the price continue to drop, as they cash out - taking losses as they do - as those we lovingly refer to as The Spartans hold strong, refusing to move (for they have already won). And so, as the weak hands leave the bitcoin market one by one, they will be heading to the lifeboats on what they must surely know is a sinking ship…
These are the final death throes of a dying, corrupt and hyptocritcal regime.
Be certain their 'bail out' will not affect the long term stability of bitcoin. On the contrary, this will only strengthen us going forward, separating the wheat from the chaff so to speak.
I wish these people the best, we are all entitled to make mistakes. Life is about learning from them and being humble enough to say "I was wrong" when you know you were. Talking of which, I believe we all owe a debt of gratitude to MtGox for the flack we threw at them during this insane period, for had the market not crashed, we may very well see prices in the $1000s right now, fuelled by those people looking to make a "quick 2000%" at the expense of others.
For those traders of the "Don't be evil" persuasion who will soon be looking for a new job, may I point you to : http://www.coinsetter.com/ who are moving quickly in setting up a forex trading platform where your skills will be a good fit. As for the rest, I would recommend an extended stint in rehab.
submitted by smeggletoot to Bitcoin [link] [comments]

[Table] IAmA Goldman Sachs Investment Banker AMAA

Verified? (This bot cannot verify AMAs just yet)
Date: 2013-01-12
Link to submission (Has self-text)
Link to my post
Questions Answers
I have a good friend who is a VP at your firm . They blamed the entire Financial crisis on ' poor people who could not afford their mortgages ' they said this was pretty much he opinion among the investment banks . How do you feel about what happened to Greece and Goldmans hand in it ? That is not true. Opinion is very much split within the investment banks and there is no right or wrong answer. I personally don't believe at all that the crisis was caused by 'poor people' - and I don't like that sort of categorization of people in the first place. There are perhaps 15/20 different institutions you could blame for the crisis, there's no way of isolating individuals. I'm not sure what exactly you think GS's hand in the Greece affair was. Of course it's a sad story and I feel remorseful - I recently donated £50,000 at a charity ball to help rebuild one of the islands which has almost been burned to the ground. But ultimately Greece employed GS at the time because they wanted to fudge their finances so as to meet entry requirements for the Euro i.e. the greek government was knowingly employing GS to help perform an extremely risky task - GS didn't force anything upon them. If the experiment explodes 10 years later (as it did), should GS really be the party to blame?
The next day, you are flipping through television channels and randomly come across a pre-season CFL game between the Toronto Argonauts and the Saskatchewan Roughriders. Knowing your inevitable future, do you now watch it? Yes of course i fucking do. The future is inevitable. Chuck Klosterman i like your name.
I love seeing the ignorance that emerges in these AMA's relating to investment bankers. I am really interested in a career in either IB or Consulting, have a few questions for you. Thank you to fletch below for answering this question.
1) How did you cope with the hours? I like working hard, I like working for my money but I also like enjoying free time and having a social life. When working a 100 hours as an analyst that would certainly have to suffer 2)What were you academic results like through your degree? I'm currently in my second year and will be realistically looking at 2.2, 2.2, 2.1 and 2.1 (years 1-4). This summer I'd hope to get an accountancy internship in one of the big 4 followed by an internship next year in one of the large IBs. I know there's more to a candidate than solely their academic credentials + internship but would this stand me well for a BB in London? (Top Irish university, undergrad will be in Business and French) 3) What is it that makes you enjoy this job? I know the paycheck is certainly a bonus but you've said there's more to it than that? Whatever your breakdown between modules is, you need a 2.1 overall. Even if your average is 60% or 61%, that's enough to get you past the minimum requirements and through to interviews. After that it's up to you - they'll take someone with a good business mind and strong communications skills irrespective of whether they average 60 or 78 or 92. I disagree with him. My job is extremely rewarding and i wouldn't swap it for any other industry at the moment. If you want evidence of people enjoying their jobs look at the number of years they spend at their respective firms. Most of the partners at GS are 'home-grown' and have spent 20/30 years sweating away but don't regret it for a second.
Do you realize that in countries like Spain you're seen as an evil person that only wants to get profit and don't have any soul or feelings and probably kicks puppies for fun? If so, how do you feel about it? Yes and understand their anger but it should be re-directed to politicians!
Proof? and of course... how much did you make in 2012 approximately? Approx 600k. How do upload proof e.g. photo evidence?
Sorry, new to reddit!
Do you have free ticket for me? Always looking for handouts. What is it young people say, lolz??
I'm very curious of your opinion of Secretary Geithner's role in LIBOR. Do you think he was guilty? innocent? Thanks! LIBOR scandal is way too complicated to explain at 2.30 am after a few beers. Many active players are implicated and i think he will be seen in the wrong eventually like many others.
What hours do you work? Approx 80 hours a week not incl. flight time I go to festivals in Europe but would love to go it. Do you have free ticket for me?
If the concept and idea of a monetary system was replaced with something better (hypothetically) what would you do? As in for a career or what not since now you are jobless. Resources will always be scarce so someone will have to ensure an optimal allocation. There will always be a market of some kind whether it be a public market or an internal government one.
Hypothetically we could have unlimited power, molecular production, and master matteenergy conversion. Would that change your answer? Good interview question. I'll keep it in mind.
In your view, are there any regulations that could meaningfully alter the moral hazard typified by the 2008-2009 bailout of the financial sector? If so, what might they be? And if not, to what extent does regulatory capture play a role? Regulatory capture is a seriously problem not just in banking e.g. also in the energy business. How do you reduce it? It won't happen unless the public demand it, as everyone with power tends to benefit from it and so they won't make meaningful steps to change anything, i.e. its a win win situation for government and business. However it needs more than just 'occupy movements' but rather i am talking the mass voter population.
Have you seen @gselevator on twitter? if so have you ever contributed/is it legit? Haha yes i have seen it and no its not legit, well at least i think its not. Seriously though the elevator chats can be quite entertaining and revealing.
Do you use a mouse when you work on excel? Are you joking?
No.
In your opinion, do you think the money you make is worth the hell that you go through to make it? I love my job and so i am lucky that the money is not the only motivator.
But yes i love checking my bank balance at an atm.
How can i break into finance with a sub-par gpa? Network and try non BB firms.
A company founded by 100 duck sized horses. or A company founded by 1 horse sized duck? 100 duck sized horses every time. Basic risk management theory - don't put all your eggs in one basket. If that 1 horse sized duck isn't exceptional, your business is going down the tubes.
Prior to the collapse, did you have any idea what was about to happen? It was getting obvious that there was a bubble, but never predicted how great the fallout would be and that in 2013 we would still be suffering
What do you do day to day? I work in the energy field in Europe but don't want to get too specific. Day to day we advise natural resource companies on all things financial such as m&a and financing strategy and then execute on their behalf. So I am on the corporate finance side rather than sales and trading. However I work closely with the syndication and sales guys such as if we are executing an IPO or a follow-on share offering.
I have a buddy who's small but established clean tech company needs money building biodiesel manufacturing plants around the US that run off garbage and wood chips. The technology is actually coming from a company based in Sweden. Can you help him on the money side? Send me a link to their website.
I find clean tech very interesting.
How did you get your job? Did a summer internship then got FT conversion.
What college did you go to? I went to LSE (university in the UK)
What jobs did you work before getting this one? Did another internship whilst at university at an oil company.
At what age did you get this job? 22.
I hear the GS company culture is like " a frat on steriods" true or false? False more than true but depends on team.
Is it as cut throat as I have heard with the bottom 50% of people getting sacked each year to make way for new guys who will probably be sacked the year after? Bottom 5% is more accurate. 7-8% in a bad year, 3-4% in a good year. It's a fine line between 'cut throat' and having a 'healthy competitive atmosphere'. But we'd be out of business very quickly if we kept firing half of our staff every year...
Is there any stock I should look into in 2013? Long term or short term. Short term- African Barrick Gold. The chinese walked away and so the share price plunged and despite serious operational issues, the massive drop has presented a golden buying opportunity.
Long term- anything to avoid inflation, inflation scares the crap out of me and is going to be a big problem in the Uk and elsewhere in the future.
Also buy into soft commodity boom e.g. meat in africa, think zambeef etc if you can find an attractive entry point.
What's the best preparation for an interview with an i-bank? I'm over here in the states and come from a non-target. Read WSO, the forums are full of useful hints and tips especially for non target guys. Depending on what area you are applying for, make sure you know some really good examples and stock pitches as it is amazing how many candidates lack knowledge e.g. if applying for ECM for god sakes know some of the recent IPO's and likewise for equity research have good stock pitches and have conviction when presenting. Best of luck!
How important is your undergrad majogpa I'm double majoring in Econ/Conflict resolution studies with a possible minor in poly sci (depending on how the credits work out) I got a 3.9 gpa last semester but it only brought my overall gpa to a 2.4 because fuck klonopin. I should have at least a 3.0 by graduation, but I'm wondering its worth it to pay for and retake my first semester. Can I have $373 dollars? :D :D I promise only to get moderately drunk with this money. Sorry, a lot of questions, thanks for answering. Oh also, one last thing, all else being equal, is calc I enough math to apply for analyst job? or do I need more? Undergrad course choice is not that important for IBD but obviously for more quant roles you need maths skills Again i am sorry but i am not very clued up on GPA Ok i give you money but first you have to register yourself as a charity so that you can gift aid it and get much more!
Where did you go to college? LSE.
As an undergrad? How hard was it? I hear it's very difficult. Yes, undergrad.
Harder than most places depending on your course. Especially as you are competing with loads of kids from Asia who do extra calculus to relax.
How do you see regulation affecting the overall banking culture? Everything I have been reading and what people have been saying is that the culture is changing. Have you been seeing this? I recommend reading "The Culture of Success" by Lisa Endlich.
Also how do you like the goldman culture? Regulation is hurting us...but: Link to business.financialpost.com
How much total did you make in each of your years at the firm? I don't want to get into specifics.
But for your first three years as an analyst roughly 50k-70k (£ not $)
As an associate 120k-160k.
After that the numbers get exciting.
What tools do you use on a regular basis? Excel, Outlook, Excel, Outlook, Excel, Outlook...powerpoint.
What is the biggest reward of working in IB? Where I study, students with high grades are pushed to chase the prestigious internships firms like GS, MS, etc offer. Their reasoning why they chase these jobs is that they think it is the highest (prestige) in finance they can go or are attracted by the money. It seems shallow to me. What does IB offer that makes your career personally fulfilling? Why didn't you choose to work elsewhere? I find what i do at the front end of the energy sector fascinating. If your interested in business or globalisation or other similiar areas then IBD is pretty much at the cutting edge of it.
Thanks for the reply! When you were first starting out at GS, were you able to balance a personal life aside from your work? Has it gotten easier as you have gained more experience? Would you recommend IB as a field to pursue to your own children today? Thanks again! I'd say during my first 3 years as an analyst the 'balance' was almost non-existent i.e. i was regularly working 100+ hours/week. Since then it's become easier year by year and i think that's true for most. And yes certainly i would encourage my children to pursue it - not that i have any yet.
Where did you go to uni what was your gpa? how many physics majors work their? did you start off as an intern? sorry for rapid firing questions. LSE (london school of economics) - first class honours but don't know how that translates into GPA.
I know only 3/4 physics majors in the office at the moment.
Yes started as an intern.
Do banker run the world? how much political influence do they really have? It works two ways. Some bankers have their fingers in politics in a way they perhaps shouldn't. But equally many politicians have their fingers in banking and can force our hands.
How hard is it for a non ivy leager studying finance to get an entry level job at GS? what about internships? Tough. But with enough internship experience beforehand it's possible.
What do you think of Forex? Would you ever trade on it with your personal money? Difficult to answer - you can trade forex in a million different ways - some ways are more interesting than others. I don't personally trade it, but others forge a very successful career out of it.
What was your bets investment in? (If that's how it works) That's not really my role in IBD.
But outside GS I invested in the Shanghai property market a decade ago or so. My 4 flats there are now worth 10-12 times what they were worth then.
WTF caused the 2010 flash crash? Good question. Nobody knows for sure.
From the link you've provided, I find no.2 the most plausible explanation. But I would also add 6. UBS did something stupid again.
As hardcore capitalists what is your feeling about (management of) banks that seem to live under the impression that profits are for a happy few while losses should be carried by tax-payers? That's not what I believe at all.
And by the way all of us are tax payers too. The top 5% contribute approx. 50% of the government's taxation revenue. So if losses are being 'carried by tax-payers' - that doesn't exclude people in the banking industry by any means.
Matt Levin at Dealbreaker (former GS guy) describes Investment Bankers as "Travelling money salesmen". Do you feel that this description is apt? The operative word in your question is 'former'
Do you think that's how he described investment bankers whilst he was still with the firm?
People tend to get very bitter and sensitive after they get fired. See Gregg Smith for further evidence..
Is an MBA necessary to be competitive when looking for a job or is a B. Comm enough to compete with others when looking for jobs in the industry? Depends on what entry point - if you do an mba then you apply for associate entry whereas b.comm is an undergrad degree and so you apply for analyst roles. If you do a b.comm at a top university/college and get some internships then you should be well placed. Good luck!
Do any of your co-workers frequent Reddit? I imagine less than 0.1%.
Then again 2 people on this feed at least have claimed to be my co-workers, so who knows...
Since you're new to Reddit, what made you want to do an ama here? I'd like to alter the public perception of bankers - not all of us are the obnoxious greedy individuals you read about in the media.
I'm also extremely interested in hearing what non-finance people see as our key economic issues at the moment - this seemed a good way to find out.
Proof? How do i upload photos? i will upload photo proof. Sorry not very experienced with reddit!
I am a senior in high school and I am interested in majoring in either accounting or finance, but I don't think I know enough about either career path to make the best decision, can you explain the large differences the two paths I would go down depending on major, or any advice that may influence my decision that I would not know at this point? What you choose to study doesn't necessarily determine the industry you'll end up in. We have guys in the office who studied history, languages, even medicine. Just go for what interests you the most and focus on getting high marks.
Curious as to what kind of degree you hold/what was your GPA in college? BSc. Economics degree from LSE. First class honours, don't know about gpa
I used to work for the swiss banks and swiss stock market indirectly, and have a few friends in the banking business, including GS and Nakamura in London. What is your personall opinion on prostitution, cocaine, and medication misusage in your business? Also, also what is your stance on GS' questionable involvment in Backpage.com? With regards to backpage.com, the guys on the deal did not do their KYC checks properly. KYC checks are crucial for banks- your reputation and future success is more important than any single customer. Look up riggs bank and the Obiang family and then you'll see!
Possible. But realistically those kind of excuses are given no matter what really happened. For a company as big and powerful as GS I can only take it with a grain of salt. Are you content in the way GS does business from a moral point of view? It's either a pinch of salt, or a grain of sand...
Thanks. I'm not a native english speaker and have not used it regularly for years, so it's gotten pretty shit. Any chance you answer the other questions? Yes, apologies. I think some of our deals have been morally reprehensible in the past. The same goes for any major investment bank. But i think we've done a very good job in 'cleaning up our act' over the past few years and the public has played a large part in that. With any luck we will see a much healthier banking industry soon.
How accurate is what is said on the Twitter handle @GSElevator? It's grossly exaggerated, but not entirely inaccurate...
You guys got trolled hard. A GS IBD guy not knowing how to upload something to the internet? Seriously wtf. Probably some guy from wso who wanted to feel like he was "in". Link to i.imgur.com Just doing some work now! Link to i.imgur.com In case you wondered what Lloyd's signature looked like.
Is there anyway you can help me out, connections or anything, someone I should talk to to get a interview? Can you interview me, I shall forward you my resume! Private message me and we will discuss. Sure i can help you out. I know how tough it is for you guys who are trying to get in!
Any thoughts on the MSI/SSG mini-scandal this week? Yes but won't comment.
Very hush hush.
I also work for GS. Which building are you in? I'm based in PBC. Also IBD, North. Would do an AMA and provide proof. I'm in PBC too, moved from RC quite a few years ago. I'm not sure exactly what sort of proof i'm supposed to provide...?
Would you say you were groomed for this kind of work from a young age? LSE is an elite school. Did you go to elite private schools growing up or were you an exceptional student at a normal school? Yes, Jimmy groomed me from four years old
Do you like your job, or should i say career? Yes. If i did not then i would go and sail around the world again.
From your experience, how relevant is CFA nowdays? Definitely worth doing.
How large was your Xmas bonus and did it get taxed over 50%? See below - total comp was c.600k and yes taxed above 50%
You said in other replies that you were 22 when you got this job and make 600K now. How old are you now, and how long did it take you to get the that salary level? Is it all commission? Was analyst at 22 and then moved up the ranks. Just turned 30, feeling old now!.
Can you give some insight on the business model of Investment banking? (I have no clue to be honest) . And what does a portfolio manager do exactly? Portfolio manager is not IBD. He/she would work in investment management e.g. for blackrock or GSAM or a hedge fund.
I'm currently writing a thesis on the future of rentierism in the gulf with an emphasis on Saudi Arabia. I don't have much of an economic background apart from this, but the international energy market is obviously important to my research. Can you recommend any good (preferably free or low cost) primers and newsletters on the subject? Hmm there are many on energy market but not too sure about rentier specific ones. Will have a think. I did my university thesis on Saudi and so will have a dig around.
How do you live with yourself? Knowing that the company that you work for doesn't give a fuck about you or anybody. All they care about is money. They have ruined america many times over. Seriously, how do you live with yourself? Actually our business is dependent on America and more importantly the rest of the world's prosperity. So actually our interests are nicely aligned.
Link to www.rollingstone.com. Seems to me like your bosses and former bosses don't give a flying fuck about anyone but themselves. Can you name one good thing Sachs has done since you have been there? I think you meant 'don't give a flying fuck" in your comment.
Do you happen to work with quantitative analysts? Depends which deal we are working on. Sometimes we need them, other times we don't.
What's your retirement savings invested in? Property (international and uk), shares mainly through tax efficient ways e.g. isa and EIS, pensions and artwork.
No swiss bank account i am afraid.
"The first thing you'll realize is that they are extremely disciplined. You would never come across a Goldman employee, who would, after two or three beers, say "My colleagues are a bunch of dickheads" From Money and Power William D Cohan. What do you have to say about this? I agree with it.
What advice would you give someone who is interested in going into finance and is currently in university. What would you have liked to do in your time spent at LSE now looking back? Party more! You only live once. You can have that advice for free.
Thanks for the AMA. Do you know anybody I could speak with regarding interviewing and internship opportunities? Private message me.
Doing an AMAA are you putting your job at risk for releasing company secrets/opinions whatever? I've not released a single company secret.
Edit: added an A to AMA. There's nothing in my contract to say I can't express my own opinions.
What do the hopes and dreams of Americans taste like? Raspberry sorbet, in my opinion
What is your feeling on the separation of traditional banking and investment banking as is proposed by the FSA? I think overall it's sensible - Barclays being the best example of why they should be separated.
At GS specifically of course we're not involved in traditional retail banking at all so it's not the most pressing issue for us at the moment.
You mentioned 80 hour work weeks. Could you explain the timeline for your typical work day. Do you work 7 days per week? Is your work more project based where you go non stop and have some time off between projects? There's no typical working day - some days are 18 hours and others are 12. Depends entirely what stage of a deal we are at. Generally I work 5/6 days a week, but keep in email contact with the office 24/7.
Yes, entirely project based. But if we are doing our jobs properly there's not much 'time off' in between.
I'm currently on target for a 2:1 or a first at university in my economics degree. But due to a slight hiccup in my a-levels, in which i got A* A C, still managed to go to a top 10 university but do they look at the C, which was in maths. Your university grades are definitely more important. If you do well in a mathematical module at uni that will allay any fears they have about an A-level grade.
Do they look at a-level grades and expect a minimum maths grade? I'm not bad at maths by any means, just an unfortunate anomaly in the exam season. Which uni are you at and what do you study?
Manchester and economics BA - but i have econometric modules and another mathematical module for 2nd year. Any chance of switching it to a BSc? Immediately reassures employers about your quantitative skills..
Hello there, first of all I want to thank you for doing this AMA. I am a dutch college student and currently I'm writing an essay about the BRIC countries. I used your book to write down predictions of their economic future, and I'd like to ask: did you participate in writing that book? Are you referring to Jim O'Neill's book? I have a copy on my desk, but no I wasn't involved in writing it.
What do the guys at GS think about @gselevator? See same q&a earlier on!
How often do interns get recommended to come back? In a good year, approx. 50% of an intern class will get hired.
In a bad year (2008 for example) perhaps only 10% or 20%
Any opinion on Nautilus Minerals? Can't comment on that company i am afraid.
How do you feel about manipulating the currency markets to screw over the average retail trader? I don't know what you are talking about.
Have you ever seen American Psycho? Yes.
I am going to copy and paste this in an email and send it around my team. You will famous at the firm, well at least in my team in london anyway! Yes of course i fucking do. The future is inevitable. Chuck Klosterman i like your name. That would also be an awesome interview question! And i give them 5 secs to answer.
I highly doubt GS interns work for free. I've almost never heard of an internship in finance that didn't pay -- most firms I've encountered usually pay the same base wage as the first year full timer positions you are interning for. Interns in front office at GS in london get circa £42k pro rata. So not bad for a summer job and remember no tax as they are below threshold across the year!
Gold Mansachs. Not sure about that one.
I prefer Goldman Snachs, the name of our canteen.
Yes, Jimmy groomed me from four years old But yes went to a private boarding school before. Widening the diversity of applicants in IB is a key target for HCM.
What is the future of investment banking in a new world order where both governments and the people are fed up with the excesses that led us into this credit crisis. The industry is always evolving, that's what makes it an exciting industry to be in. I imagine it will take us a good few years to fully regain the trust of certain clients, but ultimately if this whole saga causes us to readdress our methods and practices to improve our service then in the long run it's a positive outcome.
PS. Do you not think people should be fed up with the governments too, as well as the banks?
Not OP but I can answer this as a 2012 intern who got converted for Programming. A Math degree is a good +. There are 2 ways. Either join in as a programmer, show your merit and change departments, ie move to Quant side. Other option is to get a MBA, and join the I-Banking dept you want. What's your name?
Do you have any books or resources you'd recommend the layman for learning investment skills (i.e. the wealthy barber) I ask because i feel there is a lot of crap out there and would like to genuinely learn. I have never heard of the wealthy barber.
Last updated: 2013-01-16 15:54 UTC
This post was generated by a robot! Send all complaints to epsy.
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[Table] IamA MrRavenblade, A Real Life SuperHero (RLSH) who has been doing this for over 12 years (6 in seattle).

Verified? (This bot cannot verify AMAs just yet)
Date: 2012-05-02
Link to submission (Has self-text)
Link to my post
Questions Answers
What is your proudest achievement, Mr. Ravenblade? Looking back, I still remember that first woman I helped. I think of her often, and I cant help but wonder what her life is like now. Does she have kids? A family? A Husband? How would her life have been different if I had not helped her? I wonder this for a lot of people I have helped over the years, but to be honest, I can not help but be proudest of the first time I - scared and worried - told myself "Hey this is not right, I cant just sit back and do nothing". The first time is always the hardest. I had training in different things and was at the time studding martial arts but no real practical street experience; But still I had to try and I thin that theproudest achievement was just being willing to put myself out there and help make the world a better place.
Do you have a signature costume or logo? Its not about me. Yes I have a logo, etc.
Yeah, but can't you go into detail about a specific altercation...? Unlike others in Seattle, I don't brag about my past.
A hero is humble.
But seriously, can you go into details about anything you've done? I have filed charges against known criminals, I have helped police apprehend a fugitive, I have protected people from attempted rape, I have assisted in investigations, I have patrolled areas or communities known to be high crime, I have done charity work such as walk for babies, events for TreeHouse for Kids, donated money I raised to missions, fed the homeless, gone to McDonalds and bough 50 cheeseburgers at at time so i could hand them out to the homeless, the list goes on..
So you're saying that in Seattle, there are a bunch of superheros running around? Also if you make an AMA about being a superhero and don't "brag" about your past... You're going to have a bad time. I just don't want to be a dick.
Then why post an AMA...? I was asked to.
For the record you got down voted by everyone (not me, I don't down vote) because you did not answer a question instead you talked all about yourself and then said you don't brag; which you did. Interesting AMA, but I wish you would answer questions. I answered every question asked. If I missed one, I am not aware of it..
Awesome, sounds like some legitimate work there, well done sir. Anybody could do this. I'm not special. I just choose to not let fear stop me.
It's reddit, dude. We want you to be a dick. I think you have the wrong idea about reddit my friend, the people here are kinder than that and care a lot more about the people around them than you think.
That is why things like Link to www.reddit.com , among others, exits.
Have you ever been bashed or hurt while on the job? Yes.
I had to laugh because for a second, I thought you meant "I just choose to not let fear stop me... from buying cheeseburgers at McDonald's. AWAY!" The next time you have the cash, order 50$ of 1 dollar cheeseburgers from McDonalds. the look on the face of the person taking your order when you do it inside is great, and the sound of them going "wait, what?" on the drive though is also very funny.
Reddit's been taken over by a lot of supervillains lately, Mr. Ravenblade. :( Most of them are bots tho, so they don't exist out in the real world.
Are you concerned that criminals will see that you're tied up answering these questions and use this opportunity to steal the big diamond out of the museum? No.
That was a boring answer :( Ok so lets spice it up a bit.
I'm not worried. The diamond in the museum is a fake, the real one has already moved on to the next location, protected by ninjas that look like kittens.. that all have flame throwers.
That raises a lot of disturbing questions about the value of diamonds. Sure, stealing is wrong but is being burned to death by kitten-shaped ninjas an appropriate punishment for taking one? You have become the tyranny you despise, sir. But, Kitties! Look at the Kitties!
Do you feel that you do a better job than the police? What profound impacts have you made since you began doing this? My father was a Cop and he had a profound effect on my life.
I know from personal experience that the cops do what they can, with the limited funding and resources available to them. I have nothing but respect for the good cops out there - the bad apples are a cancer that make the rest look bad - as it takes a lot of guts to get up at 4am, strap a ballistic vest on, put on your gun, and kiss your loved ones before leaving, never knowing if you will see them again.
I do what I can, like them. I do not do "better" or "worse". I'm just doing it from a different perspective. And like them, I respect the rule of law.
Its hard to say or list all of the good I have done I have been doing this for over 12 years so there has been a lot of people I have helped, homeless I have fed or clothed, foster kids that needed warm coats, babies screened for cancer, etc. I like to think that the good ripples out.
May I ask you why you didn't choose to became a police officer? I saw my father constantly struggle to provide for others on a very low paying salary, despite the good he did every day. Even he wanted to quit and be a judge, because the pay was better.
I wanted to be, but I knew I could do more good going in another direction.
Uh, judges are lawyers, not former police officers. Good catch, I wondered if people would get it.
Unless your dad was also a lawyer being a judge would not be an option. He studied very hard, had to move around to do it, etc. But he wanted to take care of people so he did what he needed to.
How can i get started doing this? What are some tips you could give me? So i just read your FAQ, whats the difference between you and a neighborhood watch? What prompted you to take up the mask? You can get started by calling up your local police and setting up a ride along. There are also often citizens academy style classes you can take. This will give you the best intro to law enforcement, as well as put you in the best terms with police.
Neighborhood watch is more passive.
Do you ever hope there will be a time their be a mask on every corner, and the we will live in a world where heroes arent wanted they are needed. because we'll have some crazy supervillian? I hope the day we are needed that much never comes.
So if i want to be a real superhero and do all the cool ass kicking i should join that other guys group? No, he just uses camera tricks and actors in the form of his extended family an friends to make you think that.
Dude, you are a vigilante, might as well admit it. Define "vigilante". Clearly you and I have a different definition of it. I don't go all Judge Dredd on people (nobody should) and that is what I see a vigilante.
Fuck this shit imma start my own group and just be kick ass no videos no names just ass kicking. Thats called a gang... I doubt that would be productive.
Your definition of vigilante is irrelevant. Many criminals don't consider themselves as criminals either. Their opinion on the matter is also not relevant. I don't punish people, as required by the definition.. as such, I am not a vigilante. The cops, the law, etc, punishes them.
The textbook definition of vigilante is "vigilante is a private individual (or (pl.) group of individuals) who presumes to carry out extralegal punishment in defiance of existing law." "vigilante is a private individual (or (pl.) group of individuals) who presumes to carry out extralegal punishment in defiance of existing law."
Were you in that documentary on real life superheroes? The name evades me but I'm sure you know what I'm talking about. If you weren't why not? The documentary was very political in the RLSH community, and I was not in it because I had some philosophical differences with some of the people who are in it. Namely, I dint like the commercialization of the RLSH altruistic spirit that it represented.
question, how often do you get laid? Until recently I was in a very long term relationship; While in that relationship I was 100% monogamous, then it ended because she was not somebody I could trust. The relationship was good however; It also shielded me from what we in the RLSH community call call "Cape Chasers", women who get involved in the RLSH community simply to find "a good guy" or just to get banged by a guy in a cape. I'm not kidding, these women exist and its a real problem as they often try to start drama or get guys in the community fighting over them.
So every occupation involving capes aparently has groupies. I guess groupies is a good word for it, but doesn't really fit as more often than not the women enjoy the attention enough to start doing the RLSH thing and sometimes they stay even after the relationship that got them into it ends.
What kind of personal safety equipment do you wear - bullet proof vest or other body armor perhaps? Bullet Proof Armor, bought off the shelf as well as some custom made stuff.
In Seattle a lot of people who are ignorant or simply new to the scene like to brag about their Kevlar stuff; But to me any time I see people brag about that sort of thing I laugh and cry a little, because it only shows they are ignorant about Kevlar in general and have not made the effort to educate themselves, since Kevlar loses its protection when it gets wet.. and we have a lot of rain in the area.
Have you ever met Cincinnati's "Shadow Hare"? Have you ever gotten hurt? Does anyone ever try to be a "Super Villain"? Shadow Hare is a political topic in RLSH circles; I'm not sure of the exact details and I was not there so I cant really speak on it with authoritativeness.
Political topic? Could you explain what you know/what you mean when you say "Political Topic" (saw it mentioned below) out of curiosity? I understand you weren't there, just wondering on the gist of it. It was a polarizing event in RLSH history. Anytime you have "sides" the community suffers, I would rather focus on the things I know about and can speak authoritatively about.
What was polarizing about it? what is it? I'm not sure of the details, as I tried to stay as far away from it as possible at the time. I understood that he injured himself or something, and it created drama i wanted no part of.
How do you make a living? I don't think you would accept money for your hero services. (I am guessing you run your own business? If so, may I ask what it is?) No true RLSH would accept money for doing it. I will not say what it is - I said ask em anything, not I will tell you anything - as it would endanger other people.
Also, have you been shot or stabbed? or was there an attempt? Or have you always been able to diffuse the situation before it went that far. Yes. Stabbed and Shot. And its not a cool thing; its a failure on my part to negotiate or otherwise handle the situation without the need for violence.
Fair enough, I was just curious as it probably requires a lot of time to go out and be a RLSH, a normal 9-5 job would not make that easy. I do a lot of night stuff. One thing about being the boss, is nobody cares if you get in late in the mornings.
What is your relationship with law enforcement? Do they know/trust you, or do they resent the vigilante act? I consider my relationship with law enforcement to be one based on respect. Every time I interact with them, I give them the respect they deserve and they treat me with more than the amount of respect I feel entitled to. I'm not a vigilante, so that's not a problem.
Do you videotape your actions to act as evidence? Maybe a GoPro camera? In WA state we have laws about recording that have to be followed. I have a press pass among other things, so that helps, but in the end the law needs to be respected.
Would you say that you're the weirdo Seattle needs, or more the weirdo Seattle deserves? I think I'm the guy Seattle needed; now the community has grown since I was the only RLSH in the area. I see myself as jump starting the movement locally since I was at one time the only one, but in the end my goal is to mentor and provide my experiences, all the while doing what I do best.
Do you know Phoenix Jones? He and I don't get along; He actually threatened to kill innocent people when I spoke out against his violent actions when he first started. I don't consider him to be a RLSH, and that was why he had to start his own little RCSH thing, because nobody wanted him in the community.
Sadly, yes.
So you said you shouldn't pepper spray people, then he said he would murder innocents? In my opinion he has an issue with control.
It follows this that He likes to make people submit to him, and gets scared when it looks like he doesn't control the situation. I personally believe it stems from his childhood and the sense of abandonment he got from some of the things that happened to him - and for this , I truly pity him - but the end result is that when he doesn't have control over people (like he doesn't have control over me, for example when I am speaking out against him) he gets angry and makes threats in an attempt to control them that way, thought the people they love or otherwise by using them or their safety as a hostage of sorts.
This sort of action to me is something only an evil person would do.. and that's why I don't trust him or think of him as a hero at all.
On Tuesday, the 1st of May 2012, Phoenix Jones and crew allegedly pepper sprayed members of the Occupy movements's May Day demonstrators in downtown Seattle.[23]. In an interview on the Bob Rivers Show on 2nd May, Phoenix Jones asserted that, while undercover with the protesters, several of them revealed to him a plot to bomb the city courthouse. Damn that's nuts. Do you have any stories like that?! After I lost a female friend in 9/11, I looked into military service. Does that count?
But he does have a pretty cool suit, I bet it is expensive. Its rubber and it was pretty cheap from what understand. The only thing custom about it that I know of is the stuff he cut from it around the face.
Dragonskin is pretty expensive, at least 5 grand. What he has is not Dragonskin, last I checked. I'm sure he wants to tell people it is, but my understanding is he cant legally get it due to his criminal records, so if it is, that's just another thing for the police to bust him for.
Criminal records? In WA anybody with a record is not allowed to own ballistics gear. Doing so will only get you in more trouble, last I checked the law.
Do people know your irl identity? I'm very open with my RL identity to the police and several people have tried to unmask me to them, resulting in a lot of laughter.
Have any criminals you tried apprehending laugh when they saw you (considering the out of placeness of superheros...)? If so what did you do? I think it should be a prerequisite that people have a good relationship with the police, etc to do this work. If the police don't like you, you are going to have a hard time.
Do you have to use a particular set of skills (i.e martial arts) to take down criminals? Have you had to use it on any thugs? Did you come out victorious? I only use my martial arts skills in self defense; A real hero ends a fight, he doesn't start it.
Do you have any super powers? Or are you like batman. Or sherlock holmes? I got into business because I saw that Ironman and Batman were the ones funding all the other heroes..
I've read every reply in this thread. Can you please explain how humbleness and bragging about media exposure and having a facebook fan page go hand in hand? I'd also love to hear why you think you get more respect and inspire more people by wearing a ridiculous costume? I'm put in a difficult position; I want to promote humbleness, by using marketing skills to promote good values as if they are a product, with the goal that if people "buy" into the idea that people should be excellent to other it will promote positive change in the world. Yet these very things require me to put myself out there.
You actually might inspire people if you dropped the costume act. If you wore all black and a ski mask, you'd look badass versus people thinking you are late for filming a power rangers episode. Its a struggle either way, and I welcome any feedback or ideas you have.
I get that but just to let you know it doesn't come off that way. The whole "persona" just screams look at me look at me. Because if I do it with just my face exposed to the world, people will say "oh, he is just doing it for the social credibility", or worse, they could think I am a great guy and somehow above them socially.. and that would make it more difficult for others to be inspired. That is exactly what I DO NOT WANT. The less personal attention/social reward I get for my heroic deeds, the people I help, etc, the better.
You obviously are doing good in what you do but the reaction is indifference or laughter because of this persona you have. Can you please explain why you think you are taken more seriously by wearing a costume, having a ridiculous superhero name versus just wearing normal clothes and doing the same thing? Apple uses shadows in its ads for a reason: to inspire people into thinking "that could be me"/. The mask is the same thing, basically.
What kind of gadgets do you use? I go into this a little on the TV spots I have done, but a lot of the tools I use are now standard fare as everybody seems to have copied me. Bear Mace, Extendable Stun Batons, Stun Devices of multiple kinds, gear for dealing with the cold, handout supplies, ballistic vests, etc.
How do the police permit you to carry this stuff and use it? Isn't it illegal? Not illegal at all.
As I said in a video I did, the important thing in Seattle limits is to make sure you have no concealed weapons over 6 feet in length (yes, its an actual law) and stay away from projectile weapons. I also stay away from bladed weapons just to be safe; I don't need them to protect myself and I would hate for somebody else to get hurt by mistake.
Do you find it hard to move in costume and all the stuff you hold? I imagine it would be pretty hard. Uniform is designed to not create issue.
What do you think about the "war on drugs?" I think more data is needed on drugs, and being as I have no experience with any sort of drug that my doctor did not prescribe me, I'm not an authority on it either way. I do know however that they are illegal, so society clearly expects me to stay away from them.
Also, the obvious question: If you could have any super power, what would it be? Super Power? Given my science education, I wouldn't mind being able to manipulate the Fundamental Interaction of matter at will. Magneto could only control one of them, after all.
People who use drugs, who aren't junkies or 16 yearolds are often pretty private about their habit, its not something they're going to bring up in general conversation. Exactly.
People often don't bring up things they are ashamed of.
I'm pretty sure Charlie Sheen makes more than 100k a year and he's a coc addict. Maybe I should edit that to say "outside of media"
Are you familiar with Superman Blue? As I understand it from the toy box, he had power over the entire electromagnetic spectrum, which I think means that he could even fuck up shit that we don't even see. There are multiple versions of the Blue Superman; Read this Link to en.wikipedia.org
I wouldn't say all are ashamed, its like someone who enjoys a brand of beer, it doesn't become an adopted aspect of their lifestyle like stoners seem to portray, its just something they do and enjoy. My only experience with people who are open about it has been negative.
It's not statistical if it's an anecdote. According to this study, the only people that abuse drugs MORE than those making > $65,000 are those making below poverty. Drugs are illegal, its not up to me, and the fact is it doesn't matter what I think of them because they are still illegal no-matter what I think. I don't use them, I'm not an authority on them, and I honestly don't care for them.
Do you have like a social disorder? Some of your responses are a little tense bud, loosen up. It's the Internet. I'm at work. I may be the boss but I still have to work, bro.
So you're saying that Ebony is automatically subservient to ivory? No.
Do you have a job? Yes.
I own a company.
You consider yourself a superhero, so yeah, delusions of grandeur, among other things, is self-evident. Ok for your benefit, I'm going to drop the persona for a single post and lay some truth down on you. People don't care about the world. That is why the world is so fucked up. Nobody cares about their fellow man, communities can not depend on the people to take care of themselves, men in general have become pussies who no longer protect their part of the world, and in general, most people are greedy and selfish. To that end, most people just want to be entertained; So the result of this is the people who want to do good, must do so while also being entertainers. The end result of this is that most of the RLSH you see, while going out into the world and doing the good they can, have to go the persona/superhero thing.
People with mental disorders rarely see themselves that way.
Have you considered any post secondary education? I think "Dr. RavenBlade" would strike fear into the hearts of criminals! )
Thoughts? Yes I am a RLSH - have been for over a 10 years - but I don't really see the so called "Villains" like Rex as "bad" myself; I think the "community" of RLSH really needs them. If anything, we need more of them. They serve to deflate the egos of people who take themselves far too seriously, the sort of subgroup in the RLSH community that all too often thinks too much of themselves when they should be humble role models.
Its also clear this guy has help from somebody who knows a little something about media, and has thrown in some humor. This should do well given that Peter T sold out teh RLSH community when he decided to support PJ just to help his career. So yes, I support Rex, just as I supported Tiny Terror, Agent Null, and all the other so called "RLSV" even though technically as a RLSH I guess I'm supposed to hate them or something, because I know that ultimately, good things will come out of it.
I am looking forward to how this unfolds.
I did not expect the response that you gave but i am glad that you gave it. Thank you for being a person of a sound and rational mind. You are welcome. I only hope as the community grows more people will have a use for rational logic.
You may or may not be corrupt, but you're setting a precedent -- whether you admit it or not, your existence is inspiration for others, regardless of what you want. You're certainly not advocating for a vigilante-focused crime response system, are you? You certainly don't think the police are unnecessary, and that you and your team should handle crime, do you? Respectfully, You are wrong about me being a Vigilante or the idea of me trying to inspire others to be one. The law is explicit in that it allows what I do, in the way that I do it. If you do not like it the only think you can do is vote to get rid of peoples right to defend themselves... but i don't think you will be very successful. But for every Jones there are dozens of others who honestly want to do good, use their logic and reason and not further their failed careers, and in the end the world is better place for it.
Do you fit any of the common themes for many superheros? (newspapers, millionare, dead parents, etc.) Yup.
Broken Home, Dead Relatives, Misc Training, interested in business, among others.
Covert government training? What does this mean? It just seems so vauge... I am also hoping you don't say "I can't talk about that" because then you wouldn't even mention it. It says "Misc Training"... ;)
It also says "7 hours ago*" but I'll leave that one alone. Don't suppose you'll expound on 'misc training'? Either way thank you for letting me (and I am sure others) know about a fascinating subculture I was otherwise unaware of. One last question, what's the story or reason behind the name? It was given to me by a loved one before she died in a car wreck due to a drunk driver.
Do you have a nemesis? Evil.
Not "RLSV" Evil. These people are much needed critics and I think help the RLSH community in the long run. No, I consider people who rape, kill, or otherwise hurt kids to be my biggest enemy. I hate pedophiles.
Would you win in a fight against 'Kick Ass'? Why would we fight?
Hypothetical situation obviously, as a comparison of abilities. So hypothetically, say he and I spared. As friends.
I'm much bigger than he is. I have more muscle, and tactical training he lacks. So its safe to say he and I are not even in the same weight class.
To be honest I would be worried about hurting him, so I would probably let him test himself and be on the defensive until I knew he could handle things or he got a good shot in. I would probably still win, but whats the point of letting a friend lose without teaching him something?
All valid points. Tactical training you say? )
Have you seen the HBO documentary "superheroes"? thoughts? do you know any of the superheroes in it? do you appreciate their work? This is a duplicate of the same question above :)
Do you have another job? How would I start doing this??? I own a company.
You start by doing what I said in FAQ, and by checking with your local police force for a ride along.
I just got back from Seattle. Can you do something about all the hipsters and panhandlers? Are you asking me to beat up on homeless people?
Maybe you could hire the homeless people to beat up the hipsters? People that are homeless typically don't have that kind of work ethic, not when so many options exist for them to no longer be homeless.
Speaking from experience working with the homeless adults are often homeless because they want to be, or because they have mental disabilities that keep them from being able to take advantage of the options available. Children are often homeless due to no fault of their own, or because they ran away from a worse situation, and now they don't trust anybody.
The only time I see you guys (or at least phoenix jones) is posing with girls stumbling out of the clubs. How do you feel that's working on your image to be taken legitimately? I think that sort of thing is actively doing damage to the reputation of the community, especially when he has stated publicly that his girlfriend - not wife, so I can only assume based on his public statements that he doesn't have the balls to marry her despite saying publicly he has a kid with her - expects him to be faithful like the hero he claims to be.
I don't mind if he's being faithful or not, I just think that he and others look less legit when they're just doing photo ops for people and the news. Both issues apply.
How can he call himself a hero if he is acting in a way that even LOOKS unfaithful to his significant other?
Did you not get arrested recently? I thought I saw a video online where you were the one starting shit. Quick edit: Maybe not, but is this a bro of yours? No I am not a "bro" with that guy. Unlike him, I do not have a criminal record. I don't consider him to even be a RLSH.
Can you do multivariate calculus? Thats a large branch of study, but I have found it most useful in my ForEx and stock market efforts.
Last updated: 2012-05-07 02:14 UTC
This post was generated by a robot! Send all complaints to epsy.
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Greed can very easily turn good trades into bad ones and bad trades into worse trades. This article provides a number of tips to control greed and how to stop it interfering with your trading success. Very important tutorial for beginners. some trader think that greed is biggest reason of loss in Forex trading business. every trader is greedy, i am greedy, you are greed, brokers greedy and every person greedy in whole world. in this tutorial fifth parts, in first parts information about rich, medium and poor. 2nd difference between greed and fool traders. 3rd success and profit. 4th ... It is not very hard to learn the techniques. But learning the techniques is not all you need to make money through Forex trading. You have to practice and become experienced. You have to master the trading strategies you learn. Forex trading is like driving. You can sit at home and read a lot of books about driving and learn even more than a driver who has been driving for 30 years. But, you ... FOREX TRADING IS A BUSINESS - STEP AWAY YOUR FEAR & GREEDY ... The forex market is very different than trading currencies on the futures market, and much easier than trading stocks or commodities. Whether consciously or not, you already have a role in the foreign exchange market. Just because you have money in your pocket makes you an investor in the currency, especially in the U.S. dollar ... Are you a greedy trader? How to contral a greed in trading. If you want to be a successful trader, greed is probably the biggest obstacle you will have to overcome. Why is forex trading a waste of time. 20 words or less. - "/biz/ - Business & Finance" is 4chan's imageboard for the discussion of business and finance, and cryptocurrencies such as Bitcoin and Dogecoin. Becoming greedy in the Forex market is very common as all the traders go through this stage. You might be a rich person, still, you will looking to earn more money at the initial stage. Greed is coded into human DNA and you must learn to control this factor. Without having strong control over your emotions, it won’t be possible to trade the market with rational logic. In fact, you will be ...

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SIMPLE and PROFITABLE Forex Trading Strategy (WORKS on all Markets and Timeframes)

Forex Scalping EA is for best traders who are not greedy to make millions a day and safe trading. This is very safe ea and reliable for small traders. Thank you very much, All the Best! About me: ... trading the Forex Market. And that's what we do here on FX220 !! 95% of Forex Traders Lose Money BUT WE'RE NOT IN THE BUSINESS OF LOSING MONEY ... Forex trading business is one of the biggest, easy, profitable and also dangerous business of the world. in this tutorial answer of thousands traders question Forex part time or full time best for ... Please watch: "Top Forex traders in South Africa 2019 Scam Alert" https://www.youtube.com/watch?v=h7cqpxBdECI --~-- #forexbrokerkiller #forex #pip Welcome ... The ONLY Forex Trading Video You Will EVER NeedTHIS QUICK TEST WILL HELP YOU BECOME FINANCIALLY FREETake it HERE: https://discover.tiersoffreedom.comTo join my ... The So Darn Easy Forex™ Movement help THOUSANDS of Forex traders from all across the world achieve extraordinary results in long term and short term trades. ... We interview traders & educators regularly. Subscribe if you want to learn while being entertained. Please like the video and comment if you enjoyed - it...

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