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Successful traders are very, very rare to find

  • #261
  • Sep 2, 2018 1:36pm Sep 2, 2018 1:36pm
Quoting profitfarmer
{quote} {image} sure, my math is way off. or not. have fun!

Your maths is like this
Attached Image (click to enlarge)
Click to Enlarge Name: fx correlation.jpg Size: 84 KB
  • #262
  • Sep 2, 2018 1:51pm Sep 2, 2018 1:51pm
Quoting loozers
{quote} Your maths is like this {image}
we are on a very different level. in many ways.
sorry, i have no more time to waste for you, or your irrelevant posts.
there is always, always another trade!!
  • #263
  • Sep 2, 2018 1:59pm Sep 2, 2018 1:59pm
Quoting Asw
{quote} Ha, your comments and posts, tell me just how stupid you really are, your knowledge on forex trading is beginners stuff and you will never be successful.

what was it again, fundamentals don't work according to you. i made 10 percent last month fucktard how much did you make with your xmas tree flashing light charts. i bet you are either losing on demo or losing on a live account. why dont you show us how much percent you made last month. shall we compare and see who is the better trader? didn't think so.
  • #264
  • Sep 2, 2018 2:00pm Sep 2, 2018 2:00pm
stop wasting time with him, obviously he's trying to spam the forum with the "GOOD" intention to tell us how IMPORTANT psychology in trading . In the future, we need to teach younger generation " if you couldn't find any solution to any problem, PLEASE go and read psychology book"
  • #265
  • Sep 2, 2018 2:09pm Sep 2, 2018 2:09pm
Quoting Grantx
{quote} I agree with you but the market has largely priced in these events days/weeks prior. we have all seen the market move completely contrary to a positive or negative news event, happens frequently. Most traders are stuck in the past putting too much focus on price action, levels etc.. It's addictive. Something I never see is speculators looking into the future and trading with the institutions.

look at that chart or better yet go to tradingview on a 5 min chart and see for yourself if these events are priced in. what is priced in are expectations but news is as much outside of expectations as much as it is within. when the market moves contrary to news it isn't because the news was wrong but because the details paint a different picture to the main headline. take nfp as a very basic example if it comes out at 300k but wages are not only less than the previous month but actually less than expected then price will sell off. if you don't do some research and are not in tune with central bank policy and concerns you will never be able to trade these because like you say price can deviate from expectations.
  • #266
  • Sep 3, 2018 1:28am Sep 3, 2018 1:28am
Quoting Asw
{quote} You miss my point. <== No you miss the point, we are talking about a successful DAY traders, there are none, they are selling and advising, but cannot show evidence. And you don't know any either. Asw
I know two. They are both older and have put in the time to learn and understand.

One of them briefly had a thread on FF; and then had it removed when the thread filled up with people like you who were more intent on seeing proof and calling people false than were interested in exchanging trading ideas. The other guy makes roughly 10% per month. Has up days and down days. You will no longer find him on FF either.

Me: ten years ago in one month I made 240%. I have had a few other months making a few percent, and the rest losing. Recently I have been getting better, but I fight myself. I am however 100% a trader and make my living from the stock market. I find it interesting that I can apply the necessary patience to the stock market, but struggle doing the same in FX.

The charts above showing percentages of winning/losing traders at the various brokers are very interesting. They do not show how many traders are winning in successive months, i.e. people who are always in the winning numbers. A few years ago FXCM used to publish a trader of the month award to their best performing traders (with account value greater than $1k iirc). Every month some star would post figures greater than 200%, the biggest I ever saw was around 500%. I never saw a trader's name more than once.

So ... can you day-trade successfully? Definitely yes, but some days you will lose.
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #267
  • Sep 3, 2018 1:44am Sep 3, 2018 1:44am
This thread is growing way too quickly.
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #268
  • Sep 3, 2018 2:19am Sep 3, 2018 2:19am
Quoting Exodus
{quote} I know two. They are both older and have put in the time to learn and understand. One of them briefly had a thread on FF; and then had it removed when the thread filled up with people like you who were more intent on seeing proof and calling people false than were interested in exchanging trading ideas. The other guy makes roughly 10% per month. Has up days and down days. You will no longer find him on FF either. Me: ten years ago in one month I made 240%. I have had a few other months making a few percent, and the rest losing. Recently...

Real traders don't believe any of this stuff from FXCM, and succesful traders don't do this.

Me: ten years ago in one month I made 240%. I have had a few other months making a few percent, and the rest losing.

We are only going to listen to successful real traders.

  • #269
  • Sep 3, 2018 2:40am Sep 3, 2018 2:40am
Quoting loozers
.... We are only going to listen to successful real traders.
They have better things to do than post here.
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #270
  • Sep 3, 2018 8:18am Sep 3, 2018 8:18am
Quoting EcoTrader
{quote} look at that chart or better yet go to tradingview on a 5 min chart and see for yourself if these events are priced in. what is priced in are expectations but news is as much outside of expectations as much as it is within. when the market moves contrary to news it isn't because the news was wrong but because the details paint a different picture to the main headline. take nfp as a very basic example if it comes out at 300k but wages are not only less than the previous month but actually less than expected then price will sell off. if you...
Part of the skill of being a trader is working out whether the market is data or politically driven. At times you will see a directional market based on risk and yield and other times price action is driven by politics and risk off. An nfp miss will cause volatility but depending on the situation could lack any follow through (prior month revision is taken into account as well). Having a feel for overall sentiment provides insight into why the market moves like it does. Normally, its not just one thing.
  • #271
  • Sep 3, 2018 8:22am Sep 3, 2018 8:22am
Quoting Rennaissance
I don't know your experience, but successful traders are very hard to find. A lot of guys who seem successful will fail over the long because they use negatively skewed strategies. What's your experience guys?

Ata-Turkoglu
  • #272
  • Sep 3, 2018 8:42am Sep 3, 2018 8:42am
Quoting Grantx
Having a feel for overall sentiment provides insight into why the market moves like it does. Normally, its not just one thing.
That's one of the many aspects of trading fundamentals that people don't get and most likely why they just give up and dismiss it as irrelevant. Take this weekend as an example. We had Michel Barnier brexit comments, Germany Business letter about a deadline for implementing a no brexit strategy, and Borris Johnson kicking off what looks to be a program to take over leadership. The Barnier comments are the main theme but driven home by the other factors as well.
  • #273
  • Sep 3, 2018 2:15pm Sep 3, 2018 2:15pm
If you had a vision to master trading but knowing it's gonna take you 4 years from now, would you go ahead and work hard or would you give up because 4 years is just way too long and your time is precious?

Another thing, ask yourself when was the last time you stepped out of your comfort zone in order to follow the principle that you believe in.

Even when 99% of your peers goes right, would you go left alone knowing it is the only correct direction?
  • #274
  • Sep 7, 2018 12:46am Sep 7, 2018 12:46am
successful traders don't trade 24 pairs , they stick to one or two pairs with maximum impact and consistently low spreads.
  • #275
  • Sep 7, 2018 1:44am Sep 7, 2018 1:44am
Quoting loozers
successful traders don't trade 24 pairs , they stick to one or two pairs with maximum impact and consistently low spreads.
How do you know how many pairs successful traders trade? I trade at least 20 of them including gold and oil.
  • #276
  • Sep 7, 2018 1:59am Sep 7, 2018 1:59am
Quoting EcoTrader
{quote} How do you know how many pairs successful traders trade? I trade at least 20 of them including gold and oil.

It is hard to manually monitor 20 pairs , in forex the most liquid pairs have the lowest spreads, anyone trading 24 pairs simultaneously is working to make brokers rich with 24 spreads , and overnight carry costs.

Gold spread to volatility ratio is quite high, it is a negative edge instrument, due to lack of liquidity which forex offers.I am sure you will all have different points of view.Many years ago I did back tests on high spread versus low spreads pairs, the most profitable for retail traders were the lowest spread instruments.I have seen enough 95 % lose to 99% lose threads on all the forums, to back up this view with statistics.I have studies psychology in full depth for full 4 years, it is difficult for humans to follow 1 system , let alone 20 systems and 20 pairs.

The only way to do it is with EAS.
  • #277
  • Sep 7, 2018 1:59am Sep 7, 2018 1:59am
Quoting VEEFX
{quote} Looking back in my early years, I lost the first 5 years in forum searching for system strategies. My wife gave up in one year after 3 blown accounts and I got stuck here till date. In hindsight, I would suggest a cap of 2 yrs with 100% devotion and then give the f*ck up and move on. After two years, the next phase is atleast 4-6 yrs of continued struggles until you start seeing a sliver of hope in your own self to trade the markets. Just knowledge and understanding is simply not good enough!. And Yes, I would ONLY want to go away from the...
Have you considered a radically different approach to the market i. e no charts? Trying other markets could also prove to be positive.
  • #278
  • Sep 7, 2018 2:23am Sep 7, 2018 2:23am
Quoting VEEFX
{quote} I have not seen or traded via charts since 2012/13. That is how I moved from losing to Breakeven to profitability. Just pure data is good enough for me ..even to trade manually.
I started just over a year ago with technicals and quickly realised it was voodoo magic. Moved onto fundamentals and i only look at charts now after entering a trade to manage the trades. so similar outcome to you and i am currently sitting at 115.3% in 11 months so the evidence is in the results that you just don't need to trade using charts.
  • #279
  • Sep 7, 2018 2:32am Sep 7, 2018 2:32am
Quoting EcoTrader
{quote} I started just over a year ago with technicals and quickly realised it was voodoo magic. Moved onto fundamentals and i only look at charts now after entering a trade to manage the trades. so similar outcome to you and i am currently sitting at 115.3% in 11 months so the evidence is in the results that you just don't need to trade using charts.
You are on the right track, unfortunately many new traders are brainwashed into indicators,technical analysis and trading systems.The blind new traders have been led by the blind Muppet masters into a fruitless path.

Inserted Video
  • #280
  • Sep 7, 2018 4:34am Sep 7, 2018 4:34am
Quoting VEEFX
{quote} I could make over 200 trades manually under 30 mins of good volatile events across 7-8 pairs but everyone is different. I think and act better and faster when there is chaos (even in work situations where data forensics is key to my survival to avoid upward of 100K in penalties. Everything is possible but in essence, I would agree and lean more towards automation. Automation (insteadof EA) is key to replace or control himan emotions. My biggest mistake was to amend myself to fit the system. It will never work. You must find a system that...
It was a long realization for me. Discovering that the entry point doesn't matter. The only thing you need is to see the bandwagon and jump on it, and don't forget to get out before it crashes.
When you see it, BET big.
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