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

Quoting Joebrown
Many people define successful traders is those who can profit big money over night, I'm really sick of this kind of conclusion. What do you guys think?
Anyone can make big money overnight with dumb luck. Big money comes with big risk; if I see someone up 100% in a week it’s a sure sign they’re a novice living on borrowed time. Real success is less about big returns and more about simply surviving over the long run.
Self-sufficiency is the greatest of all wealth. - Epicurus
Quoting dweb
Good Day, It took a long time to achieve but bottom line for me was to know how I would react under certain conditions. You are your worst enemy, so bring your enemy closer... {image}
Hello, Dweb. I really want to appreciate you for your works so far, as I have seen online.

Please I wish to test your "dweb-Inefficiency" indicator. As I believe it will support my trading strategy. Please share the system with me. Thanks in advance. Attached is the image
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20190909-150721_1.png Size: 181 KB
Quoting dweb
Good Day, It took a long time to achieve but bottom line for me was to know how I would react under certain conditions. You are your worst enemy, so bring your enemy closer... {image}

Hello, Dweb. I really want to appreciate you for your works so far, as I have seen online.

Please I wish to test your "dweb-Inefficiency" indicator. As I believe it will support my trading strategy. Please share the system with me. Thanks in advance. Attached is the image
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot_20190909-150721_1.png Size: 181 KB
Quoting Ef5
{quote} Anyone can make big money overnight with dumb luck. Big money comes with big risk; if I see someone up 100% in a week it’s a sure sign they’re a novice living on borrowed time. Real success is less about big returns and more about simply surviving over the long run.
Well yes, survival is must. I have seen traders risking their entire capital in one go, just in the greed of big profits. Hardly do they understand the importance of risk management, which takes them nowhere but towards the end of their trading journey.
Quoting Andrewbrown
{quote} Well yes, survival is must. I have seen traders risking their entire capital in one go, just in the greed of big profits. Hardly do they understand the importance of risk management, which takes them nowhere but towards the end of their trading journey.
Agreed. Been following a thread started by MzansiObi here on MM, and he has been preaching closing out portion of trades once in money, and then moving SL on remaining trades to BE. Wins are sometimes smaller, but consistently producing good results while managing risk. I am a newbie, so has been a helpful learning experience.
If in doubt, paddle out!
I see some of what would seem(no trade explorers) successful traders on the supply and demand threads.
I can attest to the almost non existence of profitable retail traders. I work for a broker and we have expanded into a regulated entity, dealing with fund management. i Have been trying to recruit traders who can demonstrate a consistent 2 or 3 per cent per month profit with minimal draw down.
Apparently this creature does not exist. I have evaluated over 5000 applicants and less than 10 show any potential.

hard game this
Quoting pippoacher
I can attest to the almost non existence of profitable retail traders. I work for a broker and we have expanded into a regulated entity, dealing with fund management. i Have been trying to recruit traders who can demonstrate a consistent 2 or 3 per cent per month profit with minimal draw down. Apparently this creature does not exist. I have evaluated over 5000 applicants and less than 10 show any potential. hard game this
It's good to hear the truth
Thanks for this
Quoting pippoacher
I can attest to the almost non existence of profitable retail traders. I work for a broker and we have expanded into a regulated entity, dealing with fund management. i Have been trying to recruit traders who can demonstrate a consistent 2 or 3 per cent per month profit with minimal draw down. Apparently this creature does not exist. I have evaluated over 5000 applicants and less than 10 show any potential. hard game this
most retail traders have no access to appropriate training or experience. it is not surprising so many fail but it isn't a royal flush
I mean it always surprises me when people are expecting to earn millions out of pocket change, which is possible... But when it gets me is that they do expect
consistency, reliability, long-term "anything".... at the same time... I can not pull it out of my head in which profession you could combine those?
It is either RISKY or SAFE...

Some people searching for GLORY trader that has been consistently profitable for 3years+.. wanting to reveal the tricks in the bag... and fight with trolls mostly.. disputing him.. Why?

And it is not the traders, it is the market... Some markets do have "cycles" or better word "patterns" that even extends wider than one mans lifespan even...
Look some stock market window or specially real estate in some countries... Seems to go UP forever... in a smaller time window, but expand it a little.. You will see bubbles burst all the time...

And I do not even know how can anyone argue about anything without defining it first?

What is successful trader? To me is the person being able to earn from it, that's it! Either he throw everything on BLACK or RED.. don't care... The END is what it matters... There is no other glory here... Either you get money by mistake, accidents, smarts... Noone cares...

But there are other criterias... In WS.. any AUM under 1B is shit. no matter what your words are.... If your personal net worth is lower than 100m, you are scum in some "circles" But smarter people value power over money (cards anyone?) but that is another topic

So before you start to decide who is successful, could you please DEFINE it first?
Some are goody analysts, some good managers and some good traders... Finding IDEAL in at least all 3 of those... is like searching for the unicorn..
I myself is best, if anywhere.. for price prediction.. And yes, I have massively underexploited that "potential"... Would need some help from successful managers... to squeeze much more of it... Some managers on the other hand can't produce shit but can sure as manage it...

I use the analogy with WATER.. Some are (excellent) RAINMAKERS and some are (excellent) PLUMBERS... Rarely in the same person, unless you are GOD...
What good is a good plumber in a DESERT? What good is a rainmaker without a BUCKET (shop - kidding, couldn't resist)

You get my drift...

Check the Tradelist in sisters forum at least.. There seems to be a guy, currently that seems to manage to get 100k out of 5k deposit (LIVE account...) Seems pretty good or lucky to me... The question is... (another problem the biggest wizards/rainmakers have) will he hold it aka pull out in time, before it goes bust? Or will he expand as a mofo (and then go bust or pull-out)...

For more talk... DEFINE success.. and also try to answer... Also understand that SUPER successful would prefer to fly under the radar... The most you can hope for is to fine some GOOD success... like earning few 100%s per year... in FEW years in a row I must prefer the either STABLE (at least above zero might be also fine in this days of negative rates) or "BURNER" that can "CREATE" fast and RUN like a wild dog, before it falls back down..

My 2b...

Trolls pass please, I used the pro-bono tickets for trolls for this month... But would love to reply to some positive quotes/replies...
Can you afford to take that chance?
CHEETAH LIVE TE Return This Year: na
  • Post #471
  • Quote
  • Edited at 12:37am Sep 20, 2019 12:22am | Edited at 12:37am
Fact is that you don't know for how long you'll be profitable. we are at the mercy of the market...

systems stop working...s**t happens...so yea I'd rather say "long enough".


Let's say I make 50%/year for 6 years... that is long enough to make 1000%.

if it works for 10+ years.... I made a killing. just make sure to take the money and run lol

If it stops working TODAY.. well I lost $500.

SOrry strict risk managers out there.
Quoting pippoacher
I can attest to the almost non existence of profitable retail traders. I work for a broker and we have expanded into a regulated entity, dealing with fund management. i Have been trying to recruit traders who can demonstrate a consistent 2 or 3 per cent per month profit with minimal draw down. Apparently this creature does not exist. I have evaluated over 5000 applicants and less than 10 show any potential. hard game this
That is very very interesting to hear. 10 out of 5000! wow.

Generally speaking, what is the minimum length of time you would like a retail trader to be consistently profitable on a live account. (of course)

12 months, 18 months? I understand the longer the better but was interested to hear it from your side of the fence.

It will give me something concrete to aim for.

Cheers
Anthony
"Simplicity is the Ultimate Sophistication" LDV
Quoting dkrock
{quote} That's because profitable traders are in a proprietary business model and aren't going to share their profits with you, LOL. Geez. Nice try though, LOL. NO BOSS, NO CUSTOMERS, NO SALES, NO AGENDAS.
Plus NO MONEY (CAPITAL) my situation anyway.

I will get there though. Even if it takes well more than 5 years.
"Simplicity is the Ultimate Sophistication" LDV
Quoting pippoacher
I can attest to the almost non existence of profitable retail traders. I work for a broker and we have expanded into a regulated entity, dealing with fund management. i Have been trying to recruit traders who can demonstrate a consistent 2 or 3 per cent per month profit with minimal draw down. Apparently this creature does not exist. I have evaluated over 5000 applicants and less than 10 show any potential. hard game this
Interesting information. There is probably some skew to the results - the more successful traders are the least likely to apply for your positions. You see this pattern in every industry. The strong performers need to be hunted down and enticed! The low performers apply ALL DAY LONG!
If in doubt, paddle out!
Quoting SunnyCoast
{quote} That is very very interesting to hear. 10 out of 5000! wow. Generally speaking, what is the minimum length of time you would like a retail trader to be consistently profitable on a live account. (of course) 12 months, 18 months? I understand the longer the better but was interested to hear it from your side of the fence. It will give me something concrete to aim for. Cheers Anthony
Hi Sunny Coast, we look at a minimum of three months. Which gives us clues to your potential. If you can consistently extract Alpha and can demonstrate you have a comprehension of risk management then we will have a chat. if you can net 20% per annum, then you have a skill we can sell and you will be able to earn from that skill.
Quoting SurfsUp
{quote} Interesting information. There is probably some skew to the results - the more successful traders are the least likely to apply for your positions. You see this pattern in every industry. The strong performers need to be hunted down and enticed! The low performers apply ALL DAY LONG!
Hi Surf. You arnt wrong. but the amount of self delusion with traders is astounding. truly skillfull guys manage their own or their clients money. Guys responding to faceebook adds generally arnt going to be moving markets with the sheer volume of their skill. But having said that there are a couple of individuals who have genuine skill.
Quoting tropical_g
{quote} most retail traders have no access to appropriate training or experience. it is not surprising so many fail but it isn't a royal flush
I think the point is that not even a "professional retail forex trader with appropriate training and experience" applied for the job..
5000 is a significant sample size.
Quoting Mingary
{quote} I think the point is that not even a "professional retail forex trader with appropriate training and experience" applied for the job.. 5000 is a significant sample size.
" i Have been trying to recruit traders who can demonstrate a consistent 2 or 3 per cent per month profit with minimal draw down.
Apparently this creature does not exist. I have evaluated over 5000 applicants and less than 10 show any potential."

where does it state they included professional traders with appropriate training being included? it doesn't, you just made that up!

there are many factors to consider when looking at the pool of traders they looked at. which broker for starters because professional traders won't use any broker and certainly avoid bucket shops. what is the selection criteria, is it a query over actual data or random picks. were any questions asked of the group to ascertain their level of education and experience.

It's one thing to have an opinion of something, but toxic to take statements from others and twist it to suit your viewpoint.
there are very few successful traders.
the success trader does not hang around on ff pages to write his opinion daily.
a successful trader is generally not interested in ff.
  • Post #480
  • Quote
  • Edited at 7:22am Sep 21, 2019 6:40am | Edited at 7:22am
Quoting tropical_g
{quote} " i Have been trying to recruit traders who can demonstrate a consistent 2 or 3 per cent per month profit with minimal draw down. Apparently this creature does not exist. I have evaluated over 5000 applicants and less than 10 show any potential." where does it state they included professional traders with appropriate training being included? it doesn't, you just made that up! there are many factors to consider when looking at the pool of traders they looked at. which broker for starters because professional traders won't use any broker and...
" i Have been trying to recruit traders who can demonstrate a consistent 2 or 3 per cent per month profit with minimal draw down. Apparently this creature does not exist."

Where does it say they included retail traders ?
It's obvious they found no forex traders that met this seemingly simple criteria.
The retail forex industry marketing machine is well aware of this type of damaging evidence.
No need to spin it for damage control (:
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