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-   -   Successful traders are very, very rare to find (https://www.forexfactory.com/showthread.php?t=718444)

auricforecas Oct 9, 2019 4:37pm | Post# 621

Hard to escape stop hunting these days. A tip I can share with y'all is to look at your trades and see how often it moves in your direction after haven taken your stop loss.
Would be possible to exploit/hedge this even at greater profits?

Massimou Oct 9, 2019 4:44pm | Post# 622

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?
For the argument I share my own experience so far in FX market. I have been trading real account since 6 month ago, after a short period (3 months) of training and demo trading I came in conclusion that real account would benefit my training and experience far better. So, I deposited 5200 USD in my first ever trading account and after 2 months of struggling and blowing my account (nearly lost 90%! but NEVER got margin call) I gradually started to actually gain! As Im writing this I had recovered my first deposit plus a decent profit on top of that. Im not some hot shot smart person/trader but I have a solid personality, clear and calm mental state and also Im a risk taking guy!

Am I really doing good? In my idea and in my current state of life hell yeah! Once I got my initial deposit out I got really better at this job and this was my key to staying profitable. I guess any other trader can do fine too.. but remember this game is more psychological than any other thing so this is not for everyone.

Tinderdater Oct 10, 2019 12:49am | Post# 623

Hard to escape stop hunting these days. A tip I can share with y'all is to look at your trades and see how often it moves in your direction after haven taken your stop loss.
Ppl still use stop losses these days? Perhaps try lower your leverage. Price in risk before the trade. If on small capital use a nano account.

Ef5 Oct 10, 2019 1:13am | Post# 624

if successful process steps are known, why there is no shingle profitable trader
Looking back, I think the single most difficult thing about trading was there’s no generally accepted path to success. Further, there’s a lot of people who will unintentionally steer you in the wrong direction.

HeyYou Oct 10, 2019 2:47am | Post# 625

{quote} Ppl still use stop losses these days? Perhaps try lower your leverage. Price in risk before the trade. If on small capital use a nano account.
lol. I have 2 accounts, stop loss and no stop loss, which grows pretty fast.. yes I can blow it overnight, but I use a rebate service , the challenge is to earn enough rebates before it blows up. not sure if it's a good idea, but fun indeed.

Tinderdater Oct 10, 2019 3:17am | Post# 626

Sounds like fun.

Just my additional 2c. This https://www1.oanda.com/forex-trading...it-calculator/ is your best friend. I know the drawdown to the dollar at my next entry. Never used a stop loss. I might only average 4% a month. But its fun and almost stress free trading.

SurfsUp Oct 10, 2019 9:21am | Post# 627

{quote} For the argument I share my own experience so far in FX market. I have been trading real account since 6 month ago, after a short period (3 months) of training and demo trading I came in conclusion that real account would benefit my training and experience far better. So, I deposited 5200 USD in my first ever trading account and after 2 months of struggling and blowing my account (nearly lost 90%! but NEVER got margin call) I gradually started to actually gain! As Im writing this I had recovered my first deposit plus a decent profit on top...
Great story. Thanks for sharing. I agree that playing with real money makes you learn that much faster. I am still in learning mode and have a few demo accounts to try different things, but have started trading on my own funds recently and am well into positive territory. I am enjoying doing it on methods I honed on demos.

it's more like an art for me and backtesting is better than playing videogames.. so I do it mostly for the fun and not for money... while live trading is like a meditation tool. I think that people who do things just for money are crazy, but if you really want to make money forget "passive income" and get a job
Great perspective. I agree and am looking at this much in the same way. It is challenging me and developing a new skill and I find the skills needed in this game match well to what I love to do. So, I am dabbling. Not yet relying on this as my livelihood - I have a "job" that pays the bills and allows me to do things I love to do. But, I tend to entertain the thoughts of changing how I make a living and spending more time doing something I enjoy.

MarianoM Oct 10, 2019 11:39am | Post# 628

If you listen to ChatWithTraders podcast, you'll see that 99% of successful trades interviewed there, work at a prop firm, worked at a prop firm, or were lucky enough to be trained by a successful trade (who was trained at a prop firm) conclusion: if you want to be succesful join a prop firm, it's almost impossible to succeed as an independent trader. My opinion

auricforecas Oct 13, 2019 9:55am | Post# 629

Meanwhile you had the CHART posted on 25JUL19 (and other threads).. and reposted many times... with also micro/daily/weekly picture/zoom... But not sure if anyone even noticed... It will be valid for the next 12days, if all goes well.. Have been since 25JUL19... as posted chart.. even since 22JUN19 as text (trend direction)....
BTW I use this a calibration/reference for other markets... to test my price prediction model... as explained here (WTI OIL) or here (GOLD) and is at atm (1, 2) optimal condition atm... Have gave so many of them in auric forecasts thread and eurusd, and elsewhere that I am tired of winning Will see what happens in the next 12days.. but being right so long is amazing in itself, if you do understand how hard that is anyway... Hope people know how to trade that... If not better, just sell above, buy below... at 1:1, at any level... if not better... Depending on the desired return/dd/RoMaD... I also gave many detailed/daily/weekly... Anyway, just saying... Hope anyone appreciated it... at least do not give troll "things" back for it

HeyYou Oct 13, 2019 1:02pm | Post# 630

If you listen to ChatWithTraders podcast, you'll see that 99% of successful trades interviewed there, work at a prop firm, worked at a prop firm, or were lucky enough to be trained by a successful trade (who was trained at a prop firm) conclusion: if you want to be succesful join a prop firm, it's almost impossible to succeed as an independent trader. My opinion

did you really buy one of those $10 ebooks or a t-shirt ???? LMAO

ok, I know I should mind my business

HeyYou Oct 13, 2019 3:09pm | Post# 631

One last post

Just do what works, keep it simple ok.

auricforecas Oct 13, 2019 3:24pm | Post# 632

One last post Just do what works, keep it simple ok.
That's what I'm saying! KISS

HeyYou Oct 13, 2019 3:34pm | Post# 633

{quote} That's what I'm saying! KISS
you are a genius aurIC. but it doesn't have to be stupid really

simplicity is the ultimate sophistication... not stupidity

auricforecas Oct 13, 2019 3:55pm | Post# 634

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{quote} you are a genius aurIC. but it doesn't have to be stupid really simplicity is the ultimate sophistication... not stupidity
Agreed! It is weird that some of the most "stupid" aka "simple truths" are hardest to grasp.. It is so in equations also... One of the smartest man (Michio Kaku), according to many, is looking for "one inch" formula that would explain "everything" http://www.firstscience.com/SITE/ARTICLES/kaku.asp
"He spent the last 30 years of his life chasing after an equation, perhaps no more than one inch long, that would explain all physical phenomena"

But to get to that... I am sure he would need PAGES... of equations to come to "one inch" truth

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If you can't explain it simply, you don't understand it well enough. Albert Einstein

HeyYou Oct 13, 2019 5:16pm | Post# 635

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{quote} Agreed! It is weird that some of the most "stupid" aka "simple truths" are hardest to grasp.. It is so in equations also... One of the smartest man (Michio Kaku), according to many, is looking for "one inch" formula that would explain "everything" http://www.firstscience.com/SITE/ARTICLES/kaku.asp "He spent the last 30 years of his life chasing after an equation, perhaps no more than one inch long, that would explain all physical phenomena" But to get to that... I am sure he would need PAGES... of equations to...
he he he, I think that what da vinci meant is "simply do what works". as human beings we like to be right and we tend to complicate things.


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NeilWagner Oct 26, 2019 10:05am | Post# 636

{quote} Need to work on this part myself. Getting better with time though.
Of course; if you spend quality time, then surely you’ll have a good chart reading skill!

Not-KPMG Oct 26, 2019 6:12pm | Post# 637

{... I have been trading real account since 6 month ago, after a short period (3 months) of training and.. So, I deposited 5200 USD in my first ever trading account and after 2 months of struggling and blowing my account (nearly lost 90%! but NEVER got margin call) I... gain! As Im writing this I had recovered my first deposit plus a decent profit on top of that. Im not.. ne.
Hahahhaha

Good one.


Tell us more lies please. Pleeeeease.

Did you expect that someone here (experienced) will believe your story.
So you lost 90%

Then you dusted up, took smart pill and started winning from said 10% to a profit of 150% say, so you multiply your 500 dollars to say 7500 what by 15 times????

Good lie. I like it

I'm reasonably smart (have proof and paycheck says so) and i busted 3-4 accounts, took me 5 years to make good profit. Forex is hard.

But hey, after 3 months training you made 15 times profit!!!!!!
Why i don't believe that???

Ohhhhh wait YOU are ADVERTISING or going to, your little TRAINING .
LOL.
Good luck selling that

Zenotrade Oct 29, 2019 7:47am | Post# 638

{quote} yes, and btw skills can be improved...with meditation for instance. there's hope for everyone
Agree with you. Meditation really helps.

NeilWagner Oct 29, 2019 10:30am | Post# 639

{quote} Need to work on this part myself. Getting better with time though.
Nice & keep trying! It takes time; since chart reading is the best technical tool!

SurfsUp Oct 30, 2019 4:37pm | Post# 640

as human beings we like to be right and we tend to complicate things.
So true. Always helps to boil the issue / problem to its simplest essence.


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