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Any Consequence for having too many successful traders? 25 replies

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Successful XAU/USD traders 7 replies

Attachments: Successful traders are very, very rare to find
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Successful traders are very, very rare to find

Quoting profitfarmer
{quote} i was hoping you will define "successful" without that, it is hard to categorize. and as it is, "successful" has a different meaning to everyone. for example, in my own little world i am successful. i trade full time, make about 2x as much as my last salaried job, with less than half of the 'work' hours. instead of being away from my family weeks ( like last job), i am at home, trading from home. am i a millionaire? not. am i making 100%+ a month? not. am i feeling content with what i make, for the effort i put in? yes. in my own little...
Couldn't have summed this up better, there is no success in trading only in yourself, PF, your a millionaire in your families eyes, D
I don't need to be good at the game, only good enough to beat my opponent.
At this point I believe one does not need any help or degree to profit in the long term (note I didn't say ethernally).

simple systems work.. all you need is the analytical skills to test without bias and the guts to place your bet.
Quoting HeyYou
At this point I believe one does not need any help or degree to profit in the long term (note I didn't say ethernally). simple systems work.. all you need is the analytical skills to test without bias and the guts to place your bet.
Agree; my trading chart is fully fresh since I am not using any technical tool unless MA; and my major is chart reading skill!
Quoting NeilWagner
{quote} Agree; my trading chart is fully fresh since I am not using any technical tool unless MA; and my major is chart reading skill!
yes, and btw skills can be improved...with meditation for instance. there's hope for everyone
The more you learn about trading the better you get.
Remember we are trading a zero sum game against the banks - so we have to be better than 50% of them to have any chance of succeeding.

However, there are some trades that are a walk in the park.
Geopolitical news based trades are so easy - my 10 year old son could do them

Last week Barnier said that there was a great chance of a deal being done- pound rallied
Then at 7.30 am the following morning the deputy Irish PM said that the UK's proposition was a long way from what is required - how easy is that it to sell the pound.
Quoting HeyYou
{quote} yes, and btw skills can be improved...with meditation for instance. there's hope for everyone
Can completely relate to you. We do become casual over money at times, but gradually a trader does pick a responsible attitude.
Quoting Andrewbrown
{quote} Can completely relate to you. We do become casual over money at times, but gradually a trader does pick a responsible attitude.
hell yeah... I became heck more diligent, mindful and analytical over time... and not just in regards to trading.
Remember, we are all dead longterm I myself am a cheetah-er (not a cheater) Meaning that I like to get as much as possible as fast possible...
I have long(er) periods of not trading.. But when I do... I hunt for the kill. Long-term trading is exhausting to me.
So yeah, I know many people that MADE it.. unforuntatelly not many HOLD it... because they were not aware that almost any strategy has its prime time...
The worse to do is to adjust lifestyle (fixed costs) to temporary winning profits/streaks.. unless you found the vein of gold...

Well should one find any strategy/system that works consistently... he might know the secrets of the universe itself At which point...
Why need money?

Remember this guy? Grigori Perelman solved the math problem and declined the 1mio prize... True story.. He prefers to live with rats etc...
https://www.telegraph.co.uk/news/wor...cs-puzzle.html

Also, this is one interesting case..
https://www.reddit.com/r/math/commen...n_interesting/
https://www.reddit.com/r/technology/..._help_solve_a/
a guy solved 25year old math problem like nothing. Knowingly or unknowingly, not sure.. Some people just do not care for publicity, they live in their world, have own beliefs.. MrRobot anyone...

Dealing with people is exhausting, to some.. So why bother if you do not have to?

So I think this assumption that everyone is looking for success/money is debatable

And also, I get to knew some genius/nuts people They could have made a lot of money but they have so many fixations/rules... that it would be impossible..
Just for example.. "everything should be divided by certain number", "money=evil".. I mean, it's crazy... That is why I am a firm believer in breaking down trading to components like price prediction, risk management etc... Because some do have gold but it gets washed away by other deadly components that kills the overall profit...

I personally believe that the best traders ever.. are laying low. Why bother with publicity?
But there are many more that do wonders for some time... The smartest among them are humble enough to be aware that it might be over in the next trade.. so they preserve the money and if/eventually move to other markets/investments with much lower but stable (fixed) income

The best ones that I knew did this...

So, possible? Absolutely? Forever/consistently? It is not for me to say.
Can you afford to take that chance?
EUR/USD - LIVE (burner sample) TP20SL20 Return This Year: 212.1%
I started my trading journey last year, for the first 6 months I suffer lost, and backtest my strategy.
This year I finally proven my consistency profit, and I joined fxtm as strategy manager..

My past main trading mistakes:
- Believe high risk high return, but eventually become gambling mindset.
- Always look for best entry & best exit (should eliminate this mindset, and take whatever adequate profit).

How am I doing now?
- Good, at least in these economy "recession warning" period I am still able to have 5-10% monthly.
- I play safe now. Anything exceed 10% is a bonus to myself. I am ready for consecutive profit than jackpot.
Quoting HeyYou
{quote} hell yeah... I became heck more diligent, mindful and analytical over time... and not just in regards to trading.
That's great.
Quoting pippoacher
{quote} We recruit exclusively out of the retail sector
Hi, Can you please shed more light on your broker? And how do I go about joining you guys.
Quoting HeyYou
{quote} 10%/year consistently ! apparently is very hard to just buy and hold the SP500
I am just starting to trade, but if I can't get better than the SP500 why spend so much time trying to do this? It is fun, invigorating and frustrating at times, but after a year or two, if I am just getting a return that I could achieve with a more passive strategy, then I'll have to rethink things. The opportunity cost of those hours would be too high as I could use that time to generate additional earnings on top of the returns from my investing.
If in doubt, paddle out!
Quoting NeilWagner
and my major is chart reading skill!
Need to work on this part myself. Getting better with time though.
If in doubt, paddle out!
Quoting SurfsUp
{quote} I am just starting to trade, but if I can't get better than the SP500 why spend so much time trying to do this? It is fun, invigorating and frustrating at times, but after a year or two, if I am just getting a return that I could achieve with a more passive strategy, then I'll have to rethink things. The opportunity cost of those hours would be too high as I could use that time to generate additional earnings on top of the returns from my investing.
hahaha yes. my returns are a bit higher than the SP500 but not that much.. markets are FLAT nowdays.

I spent a lot of time coding, but I love it even though 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
I agree with the thread... You know why? Because they invest a lot of time/money to stay hidden
Simple as that... Stealth wealth for REAL traders... I mean just imagine... Whatever one would achieve.. either stability/consistency.. or high return.. Won't need to publish much... money would either find him itself... or he would not need any outside capital... So if we put ego out of the equation, why pollute successful mind/record with negative thoughts? Which is what happens mostly.. Just look around you... And trading is soft as it is... why adding additional doubts, arguments...

BTW this is what bothered me in the movie... Limitless (2011)... If they guy would really be able to make that good return, why the hell would he need any outside capital... I mean power of EXP or compounding... It is mentioned in the trivia also..

"Eddie learned how to quintuple his money daily. He decides to borrow one hundred thousand dollars from a loan shark to speed up the gains. He would have made one hundred thousand dollars on his own in just over twenty-four hours, if he kept quintupling his money daily."
https://www.imdb.com/title/tt1219289/trivia
Can you afford to take that chance?
EUR/USD - LIVE (burner sample) TP20SL20 Return This Year: 212.1%
if successful process steps are known, why there is no shingle profitable trader
Be yourself
SWED-7th Trial Return This Month: 279.9%
Quoting Macd-rsi
if successful process steps are known, why there is no shingle profitable trader
Because knowing is not enough... I know, I use some analogy... We ALL know how to lose weight, right?
It is the easiest thing in theory... REDUCE kcals, thats it!... Believe me... 90% of the time... genes, health etc... is not that/the (of a) factor...
Everyone can lose weight, we all know how... You do not have to do shit in fact... just EAT LESS... that's it... Forget exercise.. that is for being more athletic, muscular... not for losing weight, not needed... But yet it is a multi-billion industry, billions of recipes... coaches.... diets, philosophies etc...
Even surgeries...

I know a lot on the subject and I have challenged many to the simple test.. They all fail at this simple "rule"...
In fact.. the more complicated (to this) system they want to have instead (specially reducing carbs = cracks already weak will)... the harder it is...

But also, I get your point... but before I might agree or not, could you please repeat successful process steps for us?
Can you afford to take that chance?
EUR/USD - LIVE (burner sample) TP20SL20 Return This Year: 212.1%
Quoting Macd-rsi
if successful process steps are known, why there is no shingle profitable trader
moreover all those defending that it is possible are unable to show a live account not going from left to right.
Quoting Rennaissance
{quote} moreover all those defending that it is possible are unable to show a live account not going from left to right.
Also, some are excellent teachers but can not trade themselves.. Some are excellent traders but can not teach a single trader on how to do it
Not favouring any of the sides, just providing counter argument
Can you afford to take that chance?
EUR/USD - LIVE (burner sample) TP20SL20 Return This Year: 212.1%
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.
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