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-   -   has anyone EVER seen a successful trader/trading system? (https://www.forexfactory.com/showthread.php?t=948113)

joyny Jan 11, 2020 2:53pm | Post# 1101

Who do you see funneling people into a thread?
Maybe used N fake profiles to boost threads and make them look hot?

Lawnman Jan 11, 2020 3:05pm | Post# 1102

{quote} This is why I read and learn. I'm sure that the inboxes are full for anyone on here who seems like they make money. Certainly some are legit, but I don't PM anyone "help". Who do you see funneling people into a thread? I always wonder, not just in trading, how much of this or that is a sham.
I should add that I know a successful trader, though he's not on FF. I maintain his landscape, he trades S&P options, definitely not a scam.

Davit Jan 11, 2020 3:50pm | Post# 1103

I often find myself mulling over how the business here in FF is run - two pointers to a Davit's thread in a close proximity right here. Let me take a stab at it: lot of FF users are professional or runner-up "internet writers" whose job is to funnel lambs into huge and popular threads (like Davit's thread). There they will surrender their emails trough thread owner or other ways to all kinds of sales people, and sure enough, fools and their money will soon be parted..
You assume too much.Never sold anything or collected emails for that purpose or any.I have been offered numerous times to manage other people's money and I refused.Could of "taken advantage" not who I am.Case closed!

As for the thread title.Successful traders dont need to prove they are and come in threads like this to show off.Many on my thread myself included and traders like CNTrader Scott I know they make great money.
I deposited healthy amount on my checking from last year profits its more then senior manager makes in corporate America.
If you are smart you'll look where the knowledge is if you are not or lazy you become like Mingary a perennial loser.

There is an old proverb "tell me who your friends are and I tell you who you are."
Hang out with losers you become like one

regards

HighFive Jan 11, 2020 9:24pm | Post# 1104

{quote} You assume too much.Never sold anything or collected emails for that purpose or any.I have been offered numerous times to manage other people's money and I refused.Could of "taken advantage" not who I am.Case closed! As for the thread title.Successful traders dont need to prove they are and come in threads like this to show off.Many on my thread myself included and traders like CNTrader Scott I know they make great money. I deposited healthy amount on my checking from last year profits its more then senior manager makes in corporate America....
If you are smart you'll look where the knowledge is if you are not or lazy you become like Mingary a perennial loser.

There is an old proverb "tell me who your friends are and I tell you who you are."
Hang out with losers you become like one

regards
Life begins at the end of your comfort zon

Amen to that

The-Flipper Jan 11, 2020 10:33pm | Post# 1105

I was "following" the so called best thread of FF" for some time.

The interesting part was the fundamentals, preperations, market talk, news, politics etc.

Nevertheless the rest was definitively not for me.

Many things contradicted aspects of my intraday observations and trading method of the whole fx market.

I don't see any advantage in focusing on pivots, i better rely on RN bank level of "interests" as a remotely "indicator".

Many opportunities were missed when the music was clearly playing elsewhere and some trades were opened too early in the void.
That's an unnecessary risk and dangerous but i guess as a pivot trader you have to do it.

This post isn't an insult, it's just my opinion.

Whoever is making money with trading this pivot method, so be it. Congratulations.

Mingary Jan 12, 2020 5:19am | Post# 1106

I often find myself mulling over how the business here in FF is run - two pointers to a Davit's thread in a close proximity right here. Let me take a stab at it: lot of FF users are professional or runner-up "internet writers" whose job is to funnel lambs into huge and popular threads (like Davit's thread). There they will surrender their emails trough thread owner or other ways to all kinds of sales people, and sure enough, fools and their money will soon be parted..
True that.

There is one and only one business model that will make money in retail forex

It's a plan similar to this:

1) find a gimmick (example "We found a long lost trading manual written by W D Gann" or "Using weekly pivots - the correct way" etc ...
2) Show some positive trading track record (demo is ok and results can be "doctored" as needed)
3) Grow a membership base. You must invest and put all your effort in marketing
4) Set up your own web site (paid members only!)
5) For the edification of your enthralled followers, make sure to do a "live trading session once a week" - real money, as a marketing expense ..
6) and to cap it all, always sell sell sell; (Membership fee, subscriptions, books, videos, training, software ; etc ...)

Mingary Jan 12, 2020 5:50am | Post# 1107

{quote} You assume too much.Never sold anything or collected emails for that purpose or any.I have been offered numerous times to manage other people's money and I refused.Could of "taken advantage" not who I am.Case closed! As for the thread title.Successful traders dont need to prove they are and come in threads like this to show off.Many on my thread myself included and traders like CNTrader Scott I know they make great money. I deposited healthy amount on my checking from last year profits its more then senior manager makes in corporate America....
Hi there, this is Mingary the perennial loser

I like to follow the life cycle of trading systems on Forex Factory from start to finish. Pehaps one day I will start my own.
So far nothing out of the ordinary, your trading narrative does read just like another half lived / half lied saga ("Would have, could have, should have", only show the winners hide the losers... etc..). This is nothing new, they all do it. A believer will act on what they think they read and money will be lost.
What happened to the draw down that started around may 2019 ?
If you still have some money left to trade with, don't you think it will happen again ?
Is this the reason you are disclosing less info than before ?

"Successful traders dont need to prove they are and come in threads like this to show off"
I hope you do see the irony in this statement.
For all I know you may be making a bundle as a trader in retail forex, but as always the self proclaimed market masters are always found to be living in a fantasy.
The slight touch of paranoia and the constant defensive stance are probably a hint.
Good luck with your trading "real or not", trade safe and be more mindful.

hendzwoter Jan 13, 2020 7:15am | Post# 1108

Someone has told me before.
Trading is not about math nor art.
So it is far far away from indicator and so creativity.

But there is something that works time by time with some variation.

By the way what we have just S/D and S/R.
And not to trade them but...
The code....

Disclaimer ON guys

newbegger Jan 13, 2020 11:26am | Post# 1109

{quote} "Every business that survives has to diversify " Not true for all businesses But I agree that a trader must diversify out of retail forex or he/she will not succeed. It's a fact that retail forex like any casino (gambling) game can be addictive and is a source of misery..
I agree that many new traders come in with the casino mentality. They place their bet and cross their fingers. There is no way to stop people from gambling, regardless of how many posts you make. The gambling addiction is hard-wired and perpetuated by the media.

But not everyone will start trading with gamblers mentality (red or black, win or lose) Some will have a business attitude and a few of these will graduate to the next level. As we already know, trading is not the get-rich-quick business and for most it's not a get rich business at all as it's hard to take money from the movers.

Having a positive attitude does not insure success.

Having a negative attitude does insure failure.

Mingary Jan 13, 2020 12:13pm | Post# 1110

{quote} I agree that many new traders come in with the casino mentality. They place their bet and cross their fingers. There is no way to stop people from gambling, regardless of how many posts you make. The gambling addiction is hard-wired and perpetuated by the media. But not everyone will start trading with gamblers mentality (red or black, win or lose) Some will have a business attitude and a few of these will graduate to the next level. As we already know, trading is not the get-rich-quick business and for most it's not a get rich business...
ok but you statement is missing a word.

Having a negative attitude does not insure failure.

newbegger Jan 13, 2020 12:43pm | Post# 1111

{quote} ok but you statement is missing a word. Having a negative attitude does not insure failure.
I stand by my original statement however I will flip the statement for the not.

Failure does not guarantee a negative attitude. We can choose how we handle failure. A negative expectation on an outcome will always, in the end, be achieved. Sometimes pure luck will postpone the negative but not always.

"If you believe you can do, or, you believe you cannot do, you are correct."

rafael5643 Jan 14, 2020 1:15am | Post# 1112

Here is my video on what I think it takes to be a profitable trader:

Inserted Video

mselvi Jan 14, 2020 1:41am | Post# 1113

1 Attachment(s)
This one indicator for H1 is very good for manual trade. can any one help me to convert this in EA.

double ST1 = iCustom(NULL, 0, "ArrZZx2", xxxxx, xxxxx,xx, xxxxx);
double ST2 = iCustom(NULL, 0, "ArrZZx2", xxxxxxx, xxxxxxx, xx, xxxxxx);
Close1 = iClose(NULL, xxxxx, xxxx);
Close2 = iClose(NULL, xxxxx, xxxx);
bool buy = ((xxx<xxxx) && (xxxxx < xxxxxxx) ;
bool sell = ((xxx>xxxxx) && (xxxx > xxxxx) ;

can any tell me what to put in place of xxxxxxx to use this indicator as an ea


Sort this out I will 100% become and Successful Trader. and I will post the EA here for free
ArrZZx2.mq4

Ra. Jan 14, 2020 3:39am | Post# 1114

{quote}Having a negative attitude does insure failure.

  1. 1.
    arrange for compensation in the event of damage to or loss of (property), or injury to or the death of (someone), in exchange for regular advance payments to a company or government agency.
    "the table should be insured for $2,500"
  2. 2.
    secure or protect someone against (a possible contingency).
    "by appeasing Celia they might insure themselves against further misfortune"

I think you mean ensure?


I see where you're coming from being a new trader, and at first, it is more or less gambling, but I don't think it's as much as crossing your fingers and hoping as much as it's "I think I know what i'm doing" when in reality. Don't have a bloody clue.

Just my two cents. I know a little bit more now, and it's barely much, but enough to survive...for now. Having a positive attitude definitely helps push through the obstacle, which there are many in this profession, and it requires a high level of self reflection to overcome this 'growing pains'. Many don't.


Mingary Jan 14, 2020 4:04am | Post# 1115

{quote} I stand by my original statement however I will flip the statement for the not. Failure does not guarantee a negative attitude. We can choose how we handle failure. A negative expectation on an outcome will always, in the end, be achieved. Sometimes pure luck will postpone the negative but not always. "If you believe you can do, or, you believe you cannot do, you are correct."
The logic here is incorrect.
if "A negative expectation on an outcome will always, in the end, be achieved "
then also
A positive expectation on an outcome will always, in the end, be achieved
and also "Failure does not guarantee a negative attitude"
then "Success does not guarantee a positive attitude"

"If you believe you can do, or, you believe you cannot do, you are correct."
If it's possible, then yes! But what if something is not possible?

I know it's easy to fall into a Pollyannaism trap or to get afflicted with the Dunning–Kruger effect (an epidemic that ravages the retail forex traders population)

W1llbam Jan 14, 2020 9:44am | Post# 1116

This is to the creator of this Thread, or people with similar views. The problem is that you're trying to find some kind of system/indicator that will tell you when to buy and when to sell that is basically like wanting to know how to do math, but the way you try learn it is by memorizing for example 1x1 1x2 1x3 2x2 etc... The problem is the market is dynamic. You need to treat trading like a skill, stop searching for the best strategy, test markets purely by yourself test different concepts individually, then test them together, then start building some stats off the things you already tested, and then keep improving off that.

Being good with computers (able to code stuff or something like that) is useful to some extend, but you need to learn how to trade, you can't code something that is good at trading if you're not good at trading yourself. Now, i'm going to give you some concepts that you can purely look into by yourself, you can use them in different ways than the average Joe, these are concepts that has worked for other people. (I will only mention technical concepts but you definitely need to up your fundamental game to be a good trader.)

Trend lines, Fibonacci levels, Support and Resistance areas, And candlestick knowledge.

Treat trading like a skill!
- William

The-Flipper Jan 15, 2020 9:14pm | Post# 1117

This BBC report is truly golden and gives one of the very few hints how bank traders act in the fx market.

Inserted Video


If you carefully analyze everything (step by step) that is done in that film, you will notice that nearly nothing has changed in all these years.
Their impacts are still the same in and across the 3 major sessions.
The patterns are still there.

alphaomega Jan 16, 2020 4:21am | Post# 1118

This BBC report is truly golden and gives one of the very few hints how bank traders act in the fx market. https://www.youtube.com/watch?v=A6vqWUYaMk4 If you carefully analyze everything (step by step) that is done in that film, you will notice that nearly nothing has changed in all these years. Their impacts are still the same in and across the 3 major sessions. The patterns are still there.
Yes, it's still the same game for the most part (same patterns)..............except for one thing! There are no speculative traders in the banks anymore!
These traders are long gone.
Now the robots play this game (over 70% of the speculative volume in FX) and the creators of these robots are the new superstars.
Manual trading in principle is obsolete!

BWilliam Jan 16, 2020 5:27am | Post# 1119

{quote} Yes, it's still the same game for the most part (same patterns)..............except for one thing! There are no speculative traders in the banks anymore! These traders are long gone. Now the robots play this game (over 70% of the speculative volume in FX) and the creators of these robots are the new superstars. Manual trading in principle is obsolete!
These new superstars are big data scientist engaged as fx quants who use math as their basis, that's made the playing field even better for us retail speculators about the math.

dn1977 Jan 16, 2020 6:49am | Post# 1120

Update 13 Oct 2019: Please, after reading this post (the first post) take a look at this post too (click on the link) to better understand what I mean. Thank you... OK, it's time for me to ask the big question! For over 3 years, I've been trying to find a long-term successful strategy in Forex, but in vain! When I say 3 years I am talking about something like 5 to 10 hours a day!!! In a way, I've wasted 3 years of my dear life. I am one of the best computer programmers...
You've probably had this answer a load of times. Im sure you have heard the stats that 95% of people lose their money or give up.
So if there are 5% of people that are successful and maybe 1% of those people that use Forex factory, You're very unlikely to get someone to show you their methods for everyone to see.

I have been in the game for 10 years and I treat my methods like rare precious diamonds that I wouldn't want to share. It has taken blood sweat and tears before i found consistency. Everyone needs to go through the same before they see any progress.

It took me 5-6 years of 10 -12 hour days and I never stop learning.


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