DislikedI 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?Ignored
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Are there any successful technical traders? 19 replies
How are these EAs successful for a very long time? 4 replies
Any Consequence for having too many successful traders? 25 replies
How can I find These Values inorder to find resistance and support levels 2 replies
Successful XAU/USD traders 7 replies
DislikedI 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?Ignored
Disliked{quote} My point is the chances of finding a successful trader(who makes a living year on year from it) are very slim. And even if you do find one don't expect to get the information you need for free!Ignored
Disliked{quote} Yes but... If the people make some effort to dig, they will find some good information around here. The problem is the +90% BS. Sometimes the (good) information is right in front of us, and we dont see itIgnored
Disliked{quote} That right there is why a lot of people struggle. People can execute a mechanical strategy easily when they have the discipline to do so but finding one or making one that works on multiple pairs is tough. (I'm personally still struggling with that) However I have developed multiple strategies for 1 pair that work. Sometimes the information that we find might be perfectly viable but we execute it wrong causing us to think that it's bs. If you want gold you have to sift trough the dirt.Ignored
Disliked{quote} By itself it is already difficult and with all this BS information circulating on the net the process can be painful. Seems you are doing a good job, according with your TEIgnored
DislikedI'm sorry I don't understand this stuff about showing your TE. You think guys on the floor showed their statements to each other? Guys talked about how much they where up or down, maybe for the day or week,but in general terms, and only to people they were tight with.No one walk walked into the bar and said, oh I made 6% today....or I made 100k, or whatever... In fact most guys down played what they made... Successful traders, well you could tell that by what kind of size a guy traded in relation to how long he had been down there for.....that gave...Ignored
DislikedWhat incentive do successful traders have to put themselves out there? Think about it...Ignored
Disliked{quote} Yeah, I agree with this. The only justifiable reason would be if a trader is building up a track record and is looking for investors. Other than that, most successful traders have nothing to prove to anyone and prefer to fly under the radar and just get on with the job of trading and making money. It's also why I'm very suspicious of traders who claim to be successful but have no TE or evidence to back it up. It's usually the marketers who have something to sell.Ignored
Disliked{quote} if i had lived in the heyday of pit trading, i can tell who's making money day in day out right? it's not like they can hide behind screen. If i follow few guys in my pit, i can tell when they are buying/selling and keep track of how much they make every transaction if i wanted to. so in essence, that's their unique TE/myfxbook. cross referencing their orders that they give on the floor vs the price on the exhange. simple math and i have general idea how much they make. not like online trading where people can hide their pnl and go on forums...Ignored
DislikedIf you got scammed by the marketer because you didn't look at his pnl you're the idiot. If someone showed his beautiful pnl to the public you're the idiot to read too much into it to think he's a guru trader. If you want to know whether any trader is a good trader, I repeat - just watch him trade. If after watching the trader trade you can't tell if he is or isn't a good trader you know nuts about trading. Take up other hobbies like fishing...Ignored
Disliked{quote} on a forum, it is not that easy to "watch" someone trade. but if even so, would you feel that watching thru your own "eyes" someone trade will be inevitable filtered and judged by the viewer's beliefs as guidelines? how would a hard core swing trend trader conclude watching a counter trend scalper? how would someone risking religiously 2% a trade think of someone risking 5% or 0.2%? how would someone using 3:1 RR look at another with bellow 1 RR? perhaps with open mind, it is possible. but are the average person open minded enough...Ignored
Disliked{quote} on a forum, it is not that easy to "watch" someone trade. but if even so, would you feel that watching thru your own "eyes" someone trade will be inevitable filtered and judged by the viewer's beliefs as guidelines? how would a hard core swing trend trader conclude watching a counter trend scalper? how would someone risking religiously 2% a trade think of someone risking 5% or 0.2%? how would someone using 3:1 RR look at another with bellow 1 RR? perhaps with open mind, it is possible. but are the average person open minded enough...Ignored
Disliked{quote} Take football as example, do you know if a footballer is good at football when you watch him play in football matches ? Do you need to be an expert yourself or just the average joe to know if this football player is any good at it ? We surely can't tell if someone is talking about football and show his credentials on forums, we have to watch the player play ball. Now, how long do you have to watch this player play ball that you know if he's good or useless at football ?Ignored
Disliked{quote} if you watch 1-2 match, whatever you see wont be conclusive, but will be enough for you to form an opinion. if the particular player wasnt playing too good ( as per your own standard) you will be convinced he isnt good.... if a goalkeeper gets 2 goal one match, 2 the next, you will likely think he isnt really that good...yet could happen to the best of the world too. didnt the top trader Richard Dennis lost approx 50% of his own and his fund's money before 'retired'? watching that happen, if thru one of his later investor's eyes, he isnt...Ignored
DislikedThe problem with watching people trade live is that some people only take 1 trade a week (This is me) and some even 1 trade per month.Ignored
Disliked{quote} You can get the same information from a trading journal though.Ignored