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

  • #101
  • Aug 28, 2018 11:52pm Aug 28, 2018 11:52pm
Quoting genghistar
Have you ever wish for a veritable method to gauge or ascertain if somebody is indeed a successful trader as they claimed to be. We have many traders here who attached their TE as a proof of their trades BUT how do we know if he is successful or not. I have a fairly good idea to enable myself to know if someone is successful or not without looking at his TE or a duly certified P n L statement. I have often wondered if there is anybody who can also do the same and I will be extremely excited and grateful if I can find someone who can also do the...
Usually in forex , they are trading gbp usd or eurusd, statistically it s impossible to make money with other crosses. Another sign is they are trading weekly and monthly charts and 4 hour for entry.

Trading quacks trade everything and anything including scalping.
  • #102
  • Aug 29, 2018 1:10am Aug 29, 2018 1:10am
Quoting tzamo
{quote} Dear GS, I am still looking forward to what you have to teach, and appreciate your effort and time to respond to FF members like me. I have taken your most recent advice to go back to the basics and learn about the 5 points you mentioned of market types. I have attached an image to show my efforts to that tread, url to the image is : Here (https://www.forexfactory.com/attachment.php?attachmentid=2959162&d=1535089567) and the post : Here (https://www.forexfactory.com/showthread.php?p=11402591#post11402591). If you don't...
Very good question. Becos of maintaining a superior RR > 2 any trade even if it is a BE trade would literally means it is a failed trade as far as RRR is concerned. Yes you don't lose money but it remains a failed trade becos it fail to reach the targeted rewards.
  • #103
  • Aug 29, 2018 1:36am Aug 29, 2018 1:36am
To your 1st post I thing active TE is necessary. For example I day trade and few times swing trades and never use SL except at night because I monitor all my trades. I also don't use TP and use my indis to exit. And I think lot of people teach this also. So your 1st criteria gets discounted here. Thanks and
Regards
  • #104
  • Aug 30, 2018 6:56am Aug 30, 2018 6:56am
Quoting genghistar
{quote} Very good question. Becos of maintaining a superior RR > 2 any trade even if it is a BE trade would literally means it is a failed trade as far as RRR is concerned. Yes you don't lose money but it remains a failed trade becos it fail to reach the targeted rewards.
Dear GS,

Appreciate you explaining that in detail. It makes sense that if target was not reached, and only two outcomes are possible. If not target, then the only remaining outcome is SL if strict rules are followed. If you don't mind, can you please activating your pm as there is something I wanted to ask.

Kind Regards,
Tzamo
"Work hard, put in the effort, and follow your dreams..." -Me
  • #105
  • Edited 4:31pm Aug 30, 2018 3:01pm | Edited 4:31pm
Quoting dkrock
{quote} No one trades weekly and monthly charts in Forex, except you, at 10 cents a pip, in demo. Once again, an stock market trader insulting Forex traders. Do you think that works? lol. It is like a 6 year basketball player insulting an NBA all-star, lol. No comparison. Oh well. Go back to the stock market, lol. This is too hard for you.
demo vs live trading

https://www.youtube.com/watch?v=qHgd-H72Zuc
  • #106
  • Aug 30, 2018 3:18pm Aug 30, 2018 3:18pm
sign of profitable trading method.
my advice is, you learn from one pair to another. I mean one pair, you realy understand how this moves pattern and time.
Yes EU is my favorite pair.
as long as you understand one pair really2 well. you can be full time trader just with one pair and of course full profit.
Profit growth tells you the trader ability.
  • #107
  • Aug 30, 2018 3:21pm Aug 30, 2018 3:21pm
Been catching up on the thread and was quite confused as to how the strict 5 trades live calls with a stop and target having a min of 2:1 rr and the trader can't move the stop.

Are you kidding. Trading is never that rigid and any successful trader knows this.
  • #108
  • Aug 30, 2018 3:25pm Aug 30, 2018 3:25pm
Quoting voketexpert
sign of profitable trading method. my advice is, you learn from one pair to another. I mean one pair, you realy understand how this moves pattern and time. Yes EU is my favorite pair. as long as you understand one pair really2 well. you can be full time trader just with one pair and of course full profit.

And doing that misses all other opportunities and restricts profit potential. Why would anyone want to restrict themselves like this?
  • #109
  • Aug 30, 2018 6:00pm Aug 30, 2018 6:00pm
Quoting goodways100
To your 1st post I thing active TE is necessary. For example I day trade and few times swing trades and never use SL except at night because I monitor all my trades. I also don't use TP and use my indis to exit. And I think lot of people teach this also. So your 1st criteria gets discounted here. Thanks and Regards
Agree but in my opinion TE is geared more on equity becos it doesn't show the RRR but just avg losing /winning trade. Plus it can be doctored by traders or brokers themselves and mostly most key details are blacken out by poster.
That's why I had my own way on how to assess other traders not most ideal but at least an entry level quality.

Cheers
  • #110
  • Aug 30, 2018 6:07pm Aug 30, 2018 6:07pm
Quoting voketexpert
sign of profitable trading method. my advice is, you learn from one pair to another. I mean one pair, you realy understand how this moves pattern and time. Yes EU is my favorite pair. as long as you understand one pair really2 well. you can be full time trader just with one pair and of course full profit.
Yes that's my understanding as well becos EU is the most traded therefore it has the most varieties of different PA generating different market conditions. It is also the most difficult pairs to master and once mastered then the rests are easier. The difference with other pairs especially the majors crosses the integer value of each structure/cycle/fractal are all different.

Cheers
  • #111
  • Aug 30, 2018 6:11pm Aug 30, 2018 6:11pm
Quoting EcoTrader
Been catching up on the thread and was quite confused as to how the strict 5 trades live calls with a stop and target having a min of 2:1 rr and the trader can't move the stop. Are you kidding. Trading is never that rigid and any successful trader knows this.
What you describe is just my way to assess other traders and not connected to trading itself. Who are the any successful trader?

Cheers
  • #112
  • Aug 30, 2018 6:18pm Aug 30, 2018 6:18pm
Quoting VEEFX
{quote} Just curious....What's your read on me ? I promise only to read and not respond/argue/fight/agree/disagree.
Pls don't misunderstand its perfectly OK for you to disagree with me but it must be on the same context in trading spot forex. I won't waste your time arguing on issues where we are both talking abut different subject.
I can only only assess you as a trader if you are willing to give live trade calls on this thread based on what I described. You are most welcome to try and I am most willing to do it together with you lest others may misunderstand that I am looking for other traders signal lol.

Cheers
  • #113
  • Aug 30, 2018 6:23pm Aug 30, 2018 6:23pm
Quoting EcoTrader
{quote} And doing that misses all other opportunities and restricts profit potential. Why would anyone want to restrict themselves like this?
In my personal opinion, opportunity can be found just with a few pairs and no human alone can trade 28 pairs in one single go.

Cheers
  • #114
  • Aug 30, 2018 6:26pm Aug 30, 2018 6:26pm
Quoting tzamo
{quote} Dear GS, Appreciate you explaining that in detail. It makes sense that if target was not reached, and only two outcomes are possible. If not target, then the only remaining outcome is SL if strict rules are followed. If you don't mind, can you please activating your pm as there is something I wanted to ask. Kind Regards, Tzamo
OK.
  • #115
  • Aug 30, 2018 7:42pm Aug 30, 2018 7:42pm
The best sign of a successful method is it's ability to make money consistently.
When you see it, BET big.
  • #116
  • Aug 30, 2018 7:54pm Aug 30, 2018 7:54pm
The key to investing is to Find situations with big upside preferably unlimited and then try to limit the downside. If you do that consistently, you might have a low win rate but you will make money consistently.
When you see it, BET big.
  • #117
  • Aug 30, 2018 8:04pm Aug 30, 2018 8:04pm
Quoting Rennaissance
The best sign of a successful method is it's ability to make money consistently.
Yes making money is only part of it but most important is the strong conviction and belief in yourself that you can succeed in this very challenging business based on your own skill sets and trading ability. After all it will be most stupid to lie to oneself about one's own ability.

Cheers and happy trading
  • #118
  • Aug 30, 2018 8:46pm Aug 30, 2018 8:46pm
Quoting genghistar
{quote} Yes making money is only part of it but most important is the strong conviction and belief in yourself that you can succeed in this very challenging business based on your own skill sets and trading ability. After all it will be most stupid to lie to oneself about one's own ability. Cheers and happy trading
Yeah agree, you need a strong belief in yourself to make it. This belief usually develop during the losing years.
When you see it, BET big.
  • #119
  • Aug 31, 2018 2:54am Aug 31, 2018 2:54am
Quoting genghistar
{quote} In my personal opinion, opportunity can be found just with a few pairs and no human alone can trade 28 pairs in one single go. Cheers
you don't need to trade all pairs in one go, the market doesn't offer opportunity like that. News drives price and its pretty easy to follow where sentiment is focused on across the market. What you should say is that if you are a technical trader that hasn't automated your strategy, then it is difficult to monitor many pairs. To say that it is not possible to trade the market without your restrictions is factually incorrect because it is possible, just not through watching charts all day.
  • #120
  • Aug 31, 2018 3:37am Aug 31, 2018 3:37am
Quoting EcoTrader
{quote} you don't need to trade all pairs in one go, the market doesn't offer opportunity like that. News drives price and its pretty easy to follow where sentiment is focused on across the market. What you should say is that if you are a technical trader that hasn't automated your strategy, then it is difficult to monitor many pairs. To say that it is not possible to trade the market without your restrictions is factually incorrect because it is possible, just not through watching charts all day.
Perhaps my opinion is incorrect becos even personally trading a few pairs already overwhelm my capacity..
Pls forget what I said and go get those pips.

Cheers
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