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The life of a trading system on Forex Factory

  • #581
  • Apr 13, 2012 8:59am Apr 13, 2012 8:59am
13 minutes ago:

Alorente:

Quote
GbpUsd has a 32 hour drop predicted of 220 pips starting now on the H1 chart.

I shorted 0.01 lots with a TP 220 pips away just because I can ;-)
  • #582
  • Apr 13, 2012 9:14am Apr 13, 2012 9:14am
Quoting mmaker

Are you guys still following the Extreme TMA System thread? Alorente just declared that he can predict future price actions! And he is giving away all his secrets!
Nah I went outside to watch some grass grow, it was more interesting.

So he's gone into the prediction business eh, wooohoo, I wonder if he can predict the lottery numbers......
  • #583
  • Apr 13, 2012 9:24am Apr 13, 2012 9:24am
H4 working again, guess i'm just a lucky guy...

probably give it all back next trade.....
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tradewith60
  • #584
  • Apr 13, 2012 9:58am Apr 13, 2012 9:58am
Quoting 60minuteman
H4 working again, guess i'm just a lucky guy...

probably give it all back next trade.....
50/50 1 winning trade after the fact is hardly lucky.


Coin toss works almost aswell can still be profitable if you let the profits run and kill the losers easy.


And if your using MTFs then your not just using H4 doh!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #585
  • Apr 13, 2012 10:11am Apr 13, 2012 10:11am
Quoting Turveyd
50/50 1 winning trade after the fact is hardly lucky.


Coin toss works almost aswell can still be profitable if you let the profits run and kill the losers easy.


And if your using MTFs then your not just using H4 doh!

you telling me you use just M1... shame they stopped making the muppets, you would of been ideal for it..
tradewith60
  • #586
  • Apr 13, 2012 10:34am Apr 13, 2012 10:34am
Inserted Video
  • #587
  • Apr 13, 2012 12:11pm Apr 13, 2012 12:11pm
Quoting 60minuteman
you telling me you use just M1... shame they stopped making the muppets, you would of been ideal for it..

I have setups on M1, M5 and M15 charts, anything above merely does not have enough data points for me, 6 bars per day on H4 is just ludicrous.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #588
  • Apr 13, 2012 1:04pm Apr 13, 2012 1:04pm
Quoting pipmutt
It's not a matter of sucking at trading, some people (particularly investors) prefer extremely low risk and are perfectly satisfied with double digit returns and an ultra smooth equity curve.
I remember going to a presentation about 15 years ago, when I was an IFA, given by Morgan Grenfell I think, when we were told that private investors look for a maximum of 12% pa profit on their investment. Any higher and they panic.

Of course, I could be wrong about any of these details, other than the percentage quoted. It was all in another life when I was married to Amersham's leading Londoner, and 450 miles distance added to 14 years time is not enough.
The dream will never die
  • #589
  • Apr 13, 2012 1:08pm Apr 13, 2012 1:08pm
This thread gets the micmic recommendation for highest entertainment value!
  • #590
  • Apr 13, 2012 1:54pm Apr 13, 2012 1:54pm
"The IRS decides to audit Grandpa, and summons him to the IRS office.

The IRS auditor was not surprised when Grandpa showed up with his attorney.

The auditor said, 'Well, sir, you have an extravagant lifestyle and no full-time employment, Which you explain by saying that you win money gambling. I'm not sure the IRS finds that believable.'

'I'm a great gambler, and I can prove it,' says Grandpa. 'How about a demonstration?'

The auditor thinks for a moment and said, 'Okay. Go ahead.'

Grandpa says, 'I'll bet you a thousand dollars that I can bite my own eye.'

The auditor thinks a moment and says, 'It's a bet.'

Grandpa removes his glass eye and bites it. The auditor's jaw drops.

Grandpa says, 'Now, I'll bet you two thousand dollars that I can bite my other eye.'

Now the auditor can tell Grandpa isn't blind, so he takes the bet. Grandpa removes his dentures and bites his good eye...

The stunned auditor now realizes he has wagered and lost three grand, with Grandpa's attorney as a witness. He starts to get nervous.

'Want to go double or nothing?' Grandpa asks 'I'll bet you six thousand dollars that I can stand on one side of your desk, and pee into that wastebasket on the other side, and never get a drop anywhere in between.'

The auditor, twice burned, is cautious now, but he looks carefully and decides there's no way this old guy could possibly manage that stunt, so he agrees again.

Grandpa stands beside the desk and unzips his pants, but although he strains mightily, he can't make the stream reach the wastebasket on the other side, so he pretty much urinates all over the auditor's desk.

The auditor leaps with joy, realizing that he has just turned a major loss into a huge win. But Grandpa's own attorney moans and puts his head in his hands.

'Are you okay?' the auditor asks.

'Not really,' says the attorney. 'This morning, when Grandpa told me he'd been summoned for an audit, he bet me twenty-five thousand dollars that he could come in here and piss all over your desk and that you'd be happy about it!'"


Have a great weekend boys and girls!

Anyone notice how 'out the box' good ole granpa is?
  • #591
  • Apr 13, 2012 3:25pm Apr 13, 2012 3:25pm
Quoting Pipalicious
"The IRS decides to audit Grandpa, and summons him to the IRS office.

The IRS auditor was not surprised when Grandpa showed up with his attorney.

The auditor said, 'Well, sir, you have an extravagant lifestyle and no full-time employment, Which you explain by saying that you win money gambling. I'm not sure the IRS finds that believable.'

'I'm a great gambler, and I can prove it,' says Grandpa. 'How about a demonstration?'

The auditor thinks for a moment and said, 'Okay. Go ahead.'

Grandpa says, 'I'll bet you a thousand dollars that...
lol, love it!
  • #592
  • Apr 13, 2012 3:28pm Apr 13, 2012 3:28pm
Quoting Brotyboy
I remember going to a presentation about 15 years ago, when I was an IFA, given by Morgan Grenfell I think, when we were told that private investors look for a maximum of 12% pa profit on their investment. Any higher and they panic.
Sounds about right, 12% is a good low-risk return for most investors.


Quoting Brotyboy
It was all in another life when I was married to Amersham's leading Londoner, and 450 miles distance added to 14 years time is not enough.
You've got me wondering who that might be now, I lived a stones throw around that time, Seer Green! (surname didn't begin with a G did it?)
  • #593
  • Apr 13, 2012 3:41pm Apr 13, 2012 3:41pm
Quoting pipmutt
Sounds about right, 12% is a good low-risk return for most investors.




You've got me wondering who that might be now, I lived a stones throw around that time, Seer Green! (surname didn't begin with a G did it?)

Endowment companys where not allowed to quote more than 12% growth on accounts, turned into 1% growth if your lucky over the last 10years.

Investor likely has 100K+, most of us here are trading on Sub 1K so sub $120 per year, really not worth out time / effort ever.

Last 6 months very part time and mainly messing around I :-

Turned £100 into £430, had a month month car wise so withdrew back to £100, ran that upto £220 before my method started failing, back down to £80 currently, so I'm still +£310 or 310% in 6months. Likely spent 30hours in total trading so thats £10 per hour fine LOL

So for a small account holder, % wise the sky is the limit, people with 1mil $ account ofcourse they aren't going to take risks, 120K or 12% you can just about live off if you don't use the helicopter to often.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #594
  • Edited Apr 14, 2012 1:33am Apr 13, 2012 3:42pm | Edited Apr 14, 2012 1:33am
Quoting pipmutt
You've got me wondering who that might be now, I lived a stones throw around that time, Seer Green! (surname didn't begin with a G did it?)
Ah, but you've got to remember that I'm an old bastard and 15 years ago I'd been married for 14 years.

I've just noticed your parenthetical question and am now seriously concerned, a feeling which normally envelopes me on a Saturday morning after, rather than the Friday night during.
The dream will never die
  • #595
  • Apr 13, 2012 3:49pm Apr 13, 2012 3:49pm
[quote=LazyPawn;5461634]
1. Here’s my holy grail! The OP tells us a bit about himself, the rules of the system, some charts carefully chosen with entries/exits that worked great. He informs us that he’s been very successful using the system.
2. The fan club is created! The first people who post are those who have a few winning trades using the rules originally posted. They become groupies and whatever happens in the future they will defend the system even when it’s obviously failing miserably....


Hey LazyPawn, just came across your post here on FF. having only very recently, what I consider anyway, transitioned from this fallacy to what really will make me a consistently profitable trader, all I have to say in response to it, and even though I only skimmed the rest of the thread, is thank you!! I am very happy to see the fallacy of most traders so eloquently laid out.
Happy trading!
  • #596
  • Edited Apr 14, 2012 1:34am Apr 13, 2012 3:55pm | Edited Apr 14, 2012 1:34am
Quoting Turveyd
Endowment companys where not allowed to quote more than 12% growth on accounts, turned into 1% growth if your lucky over the last 10years.
I'm tempted to say you where missing the point, but I whon't. Where not talking about FSA regulatory projection rates, but actual rates of profit. If I could quote I whould, but if I can paraphrase, if you return any more than 12% then investors are likely to cash in their investment and go elsewhhere.

By endowhment companies, do you mean insurance companies? It's admittedly a long time ago, but insurance companies could quote 13% for pension policies at the highest projection rates in those days. And for insurance policies, 10.5% rings a bell, but I can't remember whhether this is a mid rate or a higher rate projection level. And I hope your luckier than I am, especially with the English GCSE approaching.
The dream will never die
  • #597
  • Apr 13, 2012 5:06pm Apr 13, 2012 5:06pm
Quoting Anewr
Hey LazyPawn, just came across your post here on FF. having only very recently, what I consider anyway, transitioned from this fallacy to what really will make me a consistently profitable trader ...
Good luck to you!

The thread is not meant to criticize or target any particular thread or poster - the intention was just to make some experienced traders smile when they recognize some of those patterns.
  • #598
  • Apr 13, 2012 5:35pm Apr 13, 2012 5:35pm
Quoting LazyPawn
Good luck to you!

The thread is not meant to criticize or target any particular thread or poster - the intention was just to make some experienced traders smile when they recognize some of those patterns.
Oh yeah I know. and that is exactly what it did. so thank you.
  • #599
  • Apr 13, 2012 5:37pm Apr 13, 2012 5:37pm
Quoting Brotyboy

if you return any more than 12% then investors are likely to cash in their investment and go elsewhhere.
Exactly, on the premise that if it's too good to be true.....


Quoting Brotyboy

And I hope your luckier than I am, especially with the English GCSE approaching.
Im sure heal be just fine, there not as difficult as they where when I was at school, it will be intresting to here how he get on what have he got to loose?
  • #600
  • Apr 13, 2012 5:48pm Apr 13, 2012 5:48pm
Quoting Turveyd

people with 1mil $ account ofcourse they aren't going to take risks, 120K or 12% you can just about live off if you don't use the helicopter to often.
They're not looking to live off it, they're simply looking for a reasonable return on their investment.

I can see what the issue is here, people are underfunded yet still trying to make a living from playing in the market.
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