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(binned per thread starter's request) Sign of a profitable tradin

  • #21
  • Jun 26, 2017 12:50am Jun 26, 2017 12:50am
Quoting Takisd
Your measurement for success is completely wrong. The R:R math is a meme created by retail traders, do you think a bank decides to take a trade "only if the pips is double the risk". Of course not, they use currency to hedge other investments. Hedgies are accumulative so that also blows out the way you measure success. Heres what you should be asking "is anyone profitable y/y over 5 yrs and willing to prove it". There are plenty of these people, but they won't waste their time proving it and even if they did prove it, its impossible to be so mechanical...
Tks for your opinion, Of course I am aware that the benchmark which you BANKERS use is definitely different from me being a poor retail traders trading my own money. If anyone who dares to claim that he/she is successful he/she must be prepared to be scrutinized and asked to be proven so. If not any Tom, Dicky or Hairy can stake such claim and get away with it.

GS
  • #22
  • Jun 26, 2017 1:01am Jun 26, 2017 1:01am
Quoting genghistar
{quote} Tks matey, I think you maybe wrong again. I am not looking for a successful trader. What I am concerned is when somebody claimed to be successful, I will foolishly want them to prove it so I can take their words for it. That's all. Good luck to u too. GS
When I wake up tomorrow morning I'm probably going to regret getting into this with you, but here it goes... You're missing the point that everyone else is making. No one else trades like you, just as no one else trades like me. Just because someone is a rockstar trader by his own method doesn't mean he'll be profitable trading by your method. If you can't succeed by your method it doesn't mean no one can make money from the market, it just means that either you have to get better at your method or you have to change your method.

I continually advance my stoploss as a trade progresses, and yet I make more than I lose - are you still going to tell me I'm not a good trader just because I advance my stoploss? I frequently get out of a position in profit before it hits my target because I'm not willing to sit through a big retracement, and yet I make more than I lose - are you still going to tell me I'm not a good trader just because I choose to sleep more peacefully?
  • #23
  • Jun 26, 2017 1:06am Jun 26, 2017 1:06am
Quoting Rob Mondave
{quote} When I wake up tomorrow morning I'm probably going to regret getting into this with you, but here it goes... You're missing the point that everyone else is making. No one else trades like you, just as no one else trades like me. Just because someone is a rockstar trader by his own method doesn't mean he'll be profitable trading by your method. If you can't succeed by your method it doesn't mean no one can make money from the market, it just means that either you have to get better at your method or you have to change your method. I continually...
Ok you are a rockstar trader by your own admission but I personally still remain unconvinced. Oh by the way the SL in my method can be moved only and when the minimum RR of 1:2 is reached.

Thank you again.

GS
  • #24
  • Jun 26, 2017 1:16am Jun 26, 2017 1:16am
Quoting genghistar
{quote} Ok you are a rockstar trader by your own admission but I personally still remain unconvinced. Oh by the way the SL in my method can be moved only and when the minimum RR of 1:2 is reached. Thank you again. GS
I'm assuming English is not your first language. You're missing and misunderstanding quite a few things that the native English speakers are writing.
  • #25
  • Jun 26, 2017 1:32am Jun 26, 2017 1:32am
Quoting Rob Mondave
{quote} I'm assuming English is not your first language. You're missing and misunderstanding quite a few things that the native English speakers are writing.
Yes unfortunately you are spot on and English is my third language but that does not mean I don't understand numbers,SL, TP, RRR and mores.

Tks,

GS
  • #26
  • Jun 26, 2017 1:37am Jun 26, 2017 1:37am
Need to sign off for L/O ........

Good luck and green pips to all.

GS
  • #27
  • Edited 8:30pm Jun 26, 2017 2:09am | Edited 8:30pm
Quoting genghistar
Further to my previous post, my method of knowing is to simply ask those who claimed that he or she who is successful to make 5 live trade calls complete with SL and TP and RR of 1:2 minimum. SL cannot be moved unless min RR is reached or achieved. If the success rate is less than 60% or less than 3/5 correct calls, then the answer is obvious for anyone to know. There is no need for any TEs and whatnots. Simple as that! So for anyone who wish to claim that they are successful this simple test will either prove or disprove their claim regardless...
hey genghistar, i am successful trader, the issue is not rr or 5 live trades etc it is a case of forex factory users reading a users post history. after a while it just becomes pointless to post and a bit of joke, if people only pay attention to red, amber and yellow tags it will get them nowhere. its all about reading the trade post history from each user, i even post to inform the thread when the trades i posted in previous posts close in profit but very rarely do i get offered a toke on a doobie in return, im usually ignored so what should one do about that? well nothing because its not my problem, the problem is lazy impatient attitudes. i wont give my secrets away but i always post the trade target, i cant force traders to take my advice. trades can close in profit same day or next month at which point most have lost interest. this is not get rich quickly. i dont use stops, i have a target and i hedge if needed. my advice to everyone is read the entire users trade history then follow or discard. it will become clear that way. green pips to you genghister and to all.
FREEDOM IS SECURITY.
  • #28
  • Jun 26, 2017 2:24am Jun 26, 2017 2:24am
Quoting Rob Mondave
{quote} When I wake up tomorrow morning I'm probably going to regret getting into this with you, but here it goes... You're missing the point that everyone else is making. No one else trades like you, just as no one else trades like me. Just because someone is a rockstar trader by his own method doesn't mean he'll be profitable trading by your method. If you can't succeed by your method it doesn't mean no one can make money from the market, it just means that either you have to get better at your method or you have to change your method. I continually...
nicely put rob. i agree.
FREEDOM IS SECURITY.
  • #29
  • Edited 7:54pm Jun 26, 2017 2:35am | Edited 7:54pm
How about switching your focus to their ideas rather than on their trading skills? You will reap more benefit this way.

A trader who is trying hard but not yet profitable, may still have good things to offer to learning traders due to his or her years of experience in trading. Your need to prove traders outright to be profitable or not profitable traders is a little offensive/rude. We all know that a lot of traders in this forum here may not be consistently profitable. There is no need to outrightly expose people blatantly, especially these people are being nice in the first place to give trading ideas/tips for 'free'.

A good idea can be incorporated to be part of a trading system. Whether the trading system is profitable or not is secondary issue. Just keep improving it, continuing doing what works and weed out what doesn't work. To be honest, in my early days as a trader, I first learned about trend lines in this forum. Does it matter whether the traders posting their ideas and charts are profitable or not? Not at all. I input trend lines into my personal analysis and I improved a lot.

Really think over about what I said.
'For the market to work, it needs people who think that they can beat it.'
  • #30
  • Jun 26, 2017 2:52am Jun 26, 2017 2:52am
Quoting AlastorFate
How about switching your focus to their ideas rather than on their trading skills? You will reap more benefit this way. A trader who is trying hard but not yet profitable, may still have good things to offer to learning traders due to his or her years of experience in trading. Your need to prove traders outright to be profitable or not profitable traders is a little offensive/rude. We all know that a lot of traders in this forum here may not be consistently profitable. There is no need to outrightly expose people blatantly, especially these people...
Agreed and thanks for your input and time.

Cheers

GS
  • #31
  • Jun 26, 2017 12:25pm Jun 26, 2017 12:25pm
Quoting AlastorFate
How about switching your focus to their ideas rather than on their trading skills? You will reap more benefit this way. A trader who is trying hard but not yet profitable, may still have good things to offer to learning traders due to his or her years of experience in trading. Your need to prove traders outright to be profitable or not profitable traders is a little offensive/rude. We all know that a lot of traders in this forum here may not be consistently profitable. There is no need to outrightly expose people blatantly, especially these people...
Those tips may misguide you and prompt to make wrong losing decisions. That's why you need to learn, how to discern advices from people that really mastered trading from newbies with 2-weeks trading success, rushing to forum to spread their holy grail to the masses.
I'd be really afraid to count those unlucky sods that put their money trusting some rookies advices they read in some obsolete books
  • #32
  • Edited 6:57pm Jun 26, 2017 6:24pm | Edited 6:57pm
Quoting available
Those tips may misguide you and prompt to make wrong losing decisions. That's why you need to learn, how to discern advices from people that really mastered trading from newbies with 2-weeks trading success, rushing to forum to spread their holy grail to the masses. I'd be really afraid to count those unlucky sods that put their money trusting some rookies advices they read in some obsolete books
What??? Trading newbies? You brought up something that is totally irrelevant to the topic.

The OP and 90%++ of the traders in this forum are smart enough to discern newbies from serious traders who put in years of hard work in trading. You don't need to learn how to discern newbies from veterans. Everyone here knows how to do that in a blink of an eye.

I am very sure the OP is not referring to trading newbies.

Quoting available
...people that really mastered trading
This statement is really silly. No one in this forum has ever mastered trading. Really bad choice of word usage.

'Mastered trading' and 'years of experience in trading' are two totally different things.
'For the market to work, it needs people who think that they can beat it.'
  • #33
  • Jun 26, 2017 6:44pm Jun 26, 2017 6:44pm
Ask them to show something like a t.e or myfxbook.
  • #34
  • Jun 26, 2017 6:45pm Jun 26, 2017 6:45pm
Great a thread on trading discussion and no discussion about trading geesh
  • #35
  • Jun 26, 2017 7:16pm Jun 26, 2017 7:16pm
Actually my intention in starting this thread is to raise awareness amongst retail traders the NEED to question those traders who claimed that they are successful beside showing their TEs and myfx which can be easily doctored or photo-shopped or them being brokers themselves. I have already made known my method and understandably many would argue that my method is flawed due to the fact that most do not know how to use my method yet. The logic behind my method is if it has taken me so many years of hard work to finally arrive at the stage I am in now to consistently scored 3 0ut of 5, THEN it must take somebody to be same or better than me to proclaim success. I admittedly dare not to have such claim notwithstanding the fact of my knowledge. Hope to have clear some of the misreads that have been generated here and I sincerely wish everyone success in their search to be a better trader.

Thank you.

GS
  • #36
  • Jun 26, 2017 7:43pm Jun 26, 2017 7:43pm
I think it's more important to know if you could keep on to your successful trading.
  • #37
  • Jun 27, 2017 2:37am Jun 27, 2017 2:37am
Hello everybody hello

The TE test proves nothing. You pass the test then so what ? you fail this test then so what ?
It is just some kind of bet: can you make it or not ?
But there is no link between this test and trading or being profitable or professional or honnest.

have a nive day
  • #38
  • Jun 27, 2017 8:45am Jun 27, 2017 8:45am
Forex Trading is a very risky profession and you need to obtain lots of knowledge and experience and skills to become successful in Forex Trading and thus it is not the task of a day or a month, it takes lots of time.
  • #39
  • Jun 27, 2017 7:00pm Jun 27, 2017 7:00pm
Just as I have anticipated there is not one that is using my method and of course I do not expect any self claimed successful trader who has the gall to try this test. Perhaps I would put myself to the test of 10 trade calls in the near future to see if I could hit 7 out of 10. But first I must find the time as I am actively trading myself.
For those who genuinely seeking for assistance to improve your trading remember to always ask that he prove himself first and also what you want him/her to do to protect your interests first especially your funds must be accessible and controlled by YOURSELF. Good luck .........

GS
  • #40
  • Jun 27, 2017 9:32pm Jun 27, 2017 9:32pm
Quoting genghistar
Further to my previous post, my method of knowing is to simply ask those who claimed that he or she who is successful to make 5 live trade calls complete with SL and TP and RR of 1:2 minimum. SL cannot be moved unless min RR is reached or achieved. If the success rate is less than 60% or less than 3/5 correct calls, then the answer is obvious for anyone to know. There is no need for any TEs and whatnots. Simple as that! So for anyone who wish to claim that they are successful this simple test will either prove or disprove their claim regardless...

I'll do you one better, I will make 1000 trades and come out with a profit... oh wait you don't accept TEs because "reasons". Guess I better waste my time and personally sit you down to show you an arbitrary and quite frankly low sample pool so you can get your rocks off .

Seriously but your test is flawed statstically speaking 2:1 rr means 33% chance of success and to get 3 out of 5 using a simple binomial probability calculation you have 16.13% of people getting it right based purely on random chance.... so apparently 16% of the population are genius forex traders?
Trading is a Zero sum game. Someone winning means someone losing.
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