VERIFIED REAL LIVE ACCOUNT: http://www.myfxbook.com/members/nv_t...-trader/749457 (FREE TO TRACK AT myfxbook.com)
Greetings all,
My name is NV, I spent the best part of 5 years market making FX options at a large sterling institution but made the plunge to go independent 4 years ago. In the last 4 years I have focused solely on the FX spot market. The liquidity in this market makes it a much more viable asset class for independents such as myself. The low spreads, ease of access and the tendency for forex to trend in a predictable manner creates a perfect environment for the correct type of approach to be profitable over a consistent period of time.
I started building standardised statistical models and strategies in 2001, 12 years ago whilst in business school, so I guess I was always destined to work on a trading floor but after 5 long years of daily contact with twisted egos and warped minds I decided to go it alone. The first year I left, I was tweaking my model/style/approach, call it what you will, so I did not generate any income but the past 3 years I have settled on one way of trading which has enabled me to make a consistent full time income from trading. Whilst I employ rigid modelling based techniques to enter and exit my trades, at the very core of my work lies my own theories of price action and a strong belief that following the trend yields the most profitable risk adjusted returns. I have simply systemised these theories.
I haven't spent much time frequenting forex forums since I left the floor. All the usual big timers such as james 16, strat, crucial point, jacko and the many others that people have tried to bring to my attention I have been turned off by their unwillingness to produce a trading statement or to take any of their trades in real time using either the trade explorer provided here or one of the independents such as MyFXBook.
Showing wonderful charts and complex explanations and wonderful theories AFTER the fact is easy, even my gran could do that. Imagine me telling my boss on the trading floor the tripe that is spouted on the forums here, he would laugh me out of the office. On the trading floor there is no hiding, everyone knows how everyone is performing in real time. If they aren't at their desk the next day you know they just got shown their P45. That's what shocked me the most about the retail industry, in particular the forex forums including FF, that all the readers are gullible enough to fall for all the utter garbage spoken on the threads with no proof whatsoever. NO PROOF. Ask yourself if the thread originator was so good why would he be sitting there spending hours on end making lovely charts with wonderful explanations. Charity? Giving something back to the community? Wake up.
I don't claim to be the messiah. However, given the consistent number of blow ups and dead ends on these forum pages I thought it would be a nice way to pass some time to actually post some of my trades in REAL TIME, using a LIVE account built from scratch and also link it to MYFXBOOK, so it's all independantly verified including all spreads. A sort of experiment if you wish. Is it really possible to consistently generate profits over a period of say 6 months in front of an audience?
***This LIVE account will be started from scratch, built from 0% return, first trade taken on this account 14th November 2013 as documented in the thread***
I am not here to waste anyone's time, I do not win every single month, I average 9-10 winning months per annum and a couple of smallish losing months, when the markets tend not to move much. Who knows maybe this is a losing month it doesn't matter over the course of the following 12-16 weeks I would like to show an account being built the proper way from the ground up. I also do not win 100% of my trades, more like 50%, yes FIFTY percent. That means I lose, on average, half my trades. Again this doesn't bother me it has never been a problem for me in all my profitable years of trading. Losing is part of the game as long as the losses are controlled.
I trade 7 pairs: GBPUSD, NZDUSD, EURAUD, GBPJPY, AUDJPY, CADJPY, NZDJPY. I am not strictly speaking a day trader per se, I analyse the market at the daily CLOSE, if anything looks likely for the following day based on that close I then drop to the H4 and check the market at every 4 hour candle CLOSE till the following daily CLOSE and so on for my stop entry order. I don't ever trade lower than the H4 candle. Some months I may have as little as 5 trades, some 20, so please be patient it all depends on if the market is giving the setups.
Finally I trade using buy/sell stop orders, I like to wait for the market to move in my direction. ***All my orders will be available to the public in real time at the links.***
As this thread has developed I thought it would be handy to put an index of posts I think are useful:
MAIN INDEX:
10% Return Target set
http://www.forexfactory.com/showthre...07#post7088607 (Post 11)
Automation
http://www.forexfactory.com/showthre...41#post7119341 (Post 30)
Psychology
http://www.forexfactory.com/showthre...82#post7121182 (Post 35)
Third Party Vendors/Systems
http://www.forexfactory.com/showthre...53#post7123253 (Post 43)
Timeframes
http://www.forexfactory.com/showthre...17#post7126517 (Post 53)
A word on my Daily Posts
http://www.forexfactory.com/showthre...63#post7134563 (Post 65)
Non Farm Payrolls
http://www.forexfactory.com/showthre...47#post7139147 (Post 76)
S/R
http://www.forexfactory.com/showthre...69#post7140669 (Post 83)
Close above 10% Return Target
http://www.forexfactory.com/showthre...26#post7141026 (Post 84)
Number of monitors I use
http://www.forexfactory.com/showthre...05#post7142205 (Post 92)
Common Courtesy
http://www.forexfactory.com/showthre...14#post7142914 (Post 95)
Market Maker's Role
http://www.forexfactory.com/showthre...00#post7143000 (Post 98)
http://www.forexfactory.com/showthre...90#post7147790 (Post 134)
Market manipulation
http://www.forexfactory.com/showthre...01#post7143301 (Post 101)
Introduction to my Trading
http://www.forexfactory.com/showthre...77#post7143577 (Post 108)
Breaking the market down
http://www.forexfactory.com/showthre...47#post7144047 (Post 112)
Resources/Books & 20% target close
http://www.forexfactory.com/showthre...04#post7151204 (Post 145)
Regards, NV
Greetings all,
My name is NV, I spent the best part of 5 years market making FX options at a large sterling institution but made the plunge to go independent 4 years ago. In the last 4 years I have focused solely on the FX spot market. The liquidity in this market makes it a much more viable asset class for independents such as myself. The low spreads, ease of access and the tendency for forex to trend in a predictable manner creates a perfect environment for the correct type of approach to be profitable over a consistent period of time.
I started building standardised statistical models and strategies in 2001, 12 years ago whilst in business school, so I guess I was always destined to work on a trading floor but after 5 long years of daily contact with twisted egos and warped minds I decided to go it alone. The first year I left, I was tweaking my model/style/approach, call it what you will, so I did not generate any income but the past 3 years I have settled on one way of trading which has enabled me to make a consistent full time income from trading. Whilst I employ rigid modelling based techniques to enter and exit my trades, at the very core of my work lies my own theories of price action and a strong belief that following the trend yields the most profitable risk adjusted returns. I have simply systemised these theories.
I haven't spent much time frequenting forex forums since I left the floor. All the usual big timers such as james 16, strat, crucial point, jacko and the many others that people have tried to bring to my attention I have been turned off by their unwillingness to produce a trading statement or to take any of their trades in real time using either the trade explorer provided here or one of the independents such as MyFXBook.
Showing wonderful charts and complex explanations and wonderful theories AFTER the fact is easy, even my gran could do that. Imagine me telling my boss on the trading floor the tripe that is spouted on the forums here, he would laugh me out of the office. On the trading floor there is no hiding, everyone knows how everyone is performing in real time. If they aren't at their desk the next day you know they just got shown their P45. That's what shocked me the most about the retail industry, in particular the forex forums including FF, that all the readers are gullible enough to fall for all the utter garbage spoken on the threads with no proof whatsoever. NO PROOF. Ask yourself if the thread originator was so good why would he be sitting there spending hours on end making lovely charts with wonderful explanations. Charity? Giving something back to the community? Wake up.
I don't claim to be the messiah. However, given the consistent number of blow ups and dead ends on these forum pages I thought it would be a nice way to pass some time to actually post some of my trades in REAL TIME, using a LIVE account built from scratch and also link it to MYFXBOOK, so it's all independantly verified including all spreads. A sort of experiment if you wish. Is it really possible to consistently generate profits over a period of say 6 months in front of an audience?
***This LIVE account will be started from scratch, built from 0% return, first trade taken on this account 14th November 2013 as documented in the thread***
I am not here to waste anyone's time, I do not win every single month, I average 9-10 winning months per annum and a couple of smallish losing months, when the markets tend not to move much. Who knows maybe this is a losing month it doesn't matter over the course of the following 12-16 weeks I would like to show an account being built the proper way from the ground up. I also do not win 100% of my trades, more like 50%, yes FIFTY percent. That means I lose, on average, half my trades. Again this doesn't bother me it has never been a problem for me in all my profitable years of trading. Losing is part of the game as long as the losses are controlled.
I trade 7 pairs: GBPUSD, NZDUSD, EURAUD, GBPJPY, AUDJPY, CADJPY, NZDJPY. I am not strictly speaking a day trader per se, I analyse the market at the daily CLOSE, if anything looks likely for the following day based on that close I then drop to the H4 and check the market at every 4 hour candle CLOSE till the following daily CLOSE and so on for my stop entry order. I don't ever trade lower than the H4 candle. Some months I may have as little as 5 trades, some 20, so please be patient it all depends on if the market is giving the setups.
Finally I trade using buy/sell stop orders, I like to wait for the market to move in my direction. ***All my orders will be available to the public in real time at the links.***
As this thread has developed I thought it would be handy to put an index of posts I think are useful:
MAIN INDEX:
10% Return Target set
http://www.forexfactory.com/showthre...07#post7088607 (Post 11)
Automation
http://www.forexfactory.com/showthre...41#post7119341 (Post 30)
Psychology
http://www.forexfactory.com/showthre...82#post7121182 (Post 35)
Third Party Vendors/Systems
http://www.forexfactory.com/showthre...53#post7123253 (Post 43)
Timeframes
http://www.forexfactory.com/showthre...17#post7126517 (Post 53)
A word on my Daily Posts
http://www.forexfactory.com/showthre...63#post7134563 (Post 65)
Non Farm Payrolls
http://www.forexfactory.com/showthre...47#post7139147 (Post 76)
S/R
http://www.forexfactory.com/showthre...69#post7140669 (Post 83)
Close above 10% Return Target
http://www.forexfactory.com/showthre...26#post7141026 (Post 84)
Number of monitors I use
http://www.forexfactory.com/showthre...05#post7142205 (Post 92)
Common Courtesy
http://www.forexfactory.com/showthre...14#post7142914 (Post 95)
Market Maker's Role
http://www.forexfactory.com/showthre...00#post7143000 (Post 98)
http://www.forexfactory.com/showthre...90#post7147790 (Post 134)
Market manipulation
http://www.forexfactory.com/showthre...01#post7143301 (Post 101)
Introduction to my Trading
http://www.forexfactory.com/showthre...77#post7143577 (Post 108)
Breaking the market down
http://www.forexfactory.com/showthre...47#post7144047 (Post 112)
Resources/Books & 20% target close
http://www.forexfactory.com/showthre...04#post7151204 (Post 145)
Regards, NV