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Trading Myths and Some Forex Math

  • Post #181
  • Quote
  • Edited Aug 31, 2018 4:04am Aug 30, 2018 11:34pm | Edited Aug 31, 2018 4:04am
Quoting alphadude
{quote} what does homeless begging has to do with forex trading? not comparable at all. when you withdraw $$$ from your account for your monthly expenses; that is pure success
If I am:

  1. generating 100% of my income from trading
  2. and withdrawing $$$ only from my trading profits to cover 100% of my monthly living expenses (utility bills, mortgage, cars, education, shopping, groceries etc)
  3. consistently month over month over month for a minimum of 24 consecutive months

only then I will consider myself to be a profitable and successful full time trader. Everything else is just fluff and f*cking with your mind into thinking you have finally made it.

24 months consecutive profits in not possible so 2*12months to come up with the required average monthly income is fine as well.

For me to quit my job and go full time, my MM plan mandates 24 months of total targeted profits (withdrawn at year-end after taxes straight into a bank account) as STEP One before I start withdrawing towards living expenses from 25th month onwards. To tap into trading capital for living expenses is like tapping into your retirement fund and depleting principal. It will just be a matter of time and you will eventually run out of money and eventually go homeless!

Staying in my lane...
Quoting failinforex
{quote} Games over because you trade forex based on PRICE. Not price BUT time - timing - 10 hrs from now sell all USD major - EURUSD, AUDUSD, GBPUSD....
dear failinforex,
Could you give a tips of how to time the price ?

best regard.
Quoting genghistar
{quote} Yes I took a 20pips loss and I am none the worse about it. And loss like this is quite normal and within my RRR parameter. I don't do ambiguous buy here and sell there kind of trade call even if it is a norm here becos I am very specific about my entry/sl/tp which is open to everyone to see. Timing in my experience is mostly driven by news and geopol events which is my weakest link and something I cannot control. And if you judge that somehow you have a better and more superior method than mine then I welcome you to also make the live trade...
Dear gen,
I agree some point of you.Could you make live calls for five more times ? Becos I notice your most recent calls are all lose and it isn't match your system which claimed winrate 60% ,and RR above 2:1.

Best Regard.
Quoting VEEFX
{quote} VeeFX: Perspective on Successful Trader versus Profitable Trader I am a net profitable trader till date but definitely NOT a successful trader. Here's my view of how I distinguish between the two. The devil is always in the details so one has to document or define our own goals and objectives of what we want from trading. In principle, this logic should apply to everyone. Definition of a Profitable Trader: This is simple. You are a profitable trader if You have ZERO open positions in your account(s) i.e. your account equity is the same as...
I think you are being a little too hard on yourself. The reason traders trade in my little mind is not just for the money, it is to develop a life skill that is repeatable, that you can pass on to your kids, family, close friends, or even to a motivated homeless person. If you know you have such a skill ( and I know you do), then that is worth much more than money. I would like to add also that every person who is considered "great" in anything they do has put in no less than a decade. The real fruits I think come at two decades. So what you are doing to yourself is evaluating the time it took you to trade calmly, knowing you will be a winner after a certain time period has elapsed. Your true equity curve is only just beginning to take off, and I am going to say you are over forty. If you are younger than that, then you are truly a lucky man. Perhaps you have become so combative with FF because you know it is time. We all must move forward, and sometimes that mean leaving friends and even loved ones behind.

Inserted Video
Fight of the Century: Keynes vs Hayek, Round 2
Quoting genghistar
The ball is now in your court. Hehe
pass the ball back to you.
It is not price, it is TIMING.
Time and price today:
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Click to Enlarge Name: UJ Gann.png Size: 99 KB
Quoting alphadude
{quote} Successful trader definiton is simple: if your living expenses are 100% from forex trading; then you are successful.

What a load of rubbish. You don't have to live off trading to be successful at it.
Quoting EcoTrader
{quote} What a load of rubbish. You don't have to live off trading to be successful at it.

Or how about if their 100% living expenses were $50 a week "living in a van down by the river". Not my idea of success either lol.
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Quoting SunTrader
{quote} Or how about if their 100% living expenses were $50 a week "living in a van down by the river". Not my idea of success either lol. https://www.youtube.com/watch?v=bXk3teJpzGU
LOL

Ah shiieeet
Working towards CME membership
Quoting EcoTrader
{quote} What a load of rubbish. You don't have to live off trading to be successful at it.
Now it is obvious what kind of trader you are; a loser for sure.

it is nice excuse to give your girlfriend. I didn't make money this year honey; but don't you worry; am not trading for a living like thos FF traders; am just spending time in front of my roulette. Losing all our savings is ok; it's part of the trading game. I got the other job so no worries
  • Post #191
  • Quote
  • Edited at 5:17pm Aug 31, 2018 5:05pm | Edited at 5:17pm
Quoting alphadude
{quote} Now it is obvious what kind of trader you are; a loser for sure. it is nice excuse to give your girlfriend. I didn't make money this year honey; but don't you worry; am not trading for a living like thos FF traders; am just spending time in front of my roulette. Losing all our savings is ok; it's part of the trading game. I got the other job so no worries

Losing money, i'm up 110% in 11 months so maybe you should stick that turd in your mouth where it belongs in the toilet. I make over a grand a day in my consulting business putting me in the top 5% of earners. I don't need to trade for a living i do it for kicks and probably more profitable than you. Losing savings, I am debt free and have more money in my personal account than i need to buy a 500k house cash. Why don't you do yourself a favour and find your bogan mates and run around the bush playing caveman. That's all you will ever amount to
Quoting EcoTrader
{quote} Losing money, i'm up 110% in 11 months so maybe you should stick that turd in your mouth where it belongs in the toilet. I make over a grand a day in my consulting business putting me in the top 5% of earners. I don't need to trade for a living i do it for kicks and probably more profitable than you. Losing savings, I am debt free and have more money in my personal account than i need to buy a 500k house cash. Why don't you do yourself a favour and find your bogan mates and have a proper redneck party.
your fist is up your ass all the way in.

so you can buy a 500k house cash; that's all you can do. that can buy you a shed. not enough dude.

you think 110% of a cent account is a good return?

losers always have excuses why they are not making it in forex. they got another source of income. that sound like a forex educator.

I can see where you are going with this with your thread. sooner or later you will be selling something here in FF.

we can smell turds like you a mile away.
Quoting alphadude
{quote} your fist is up your ass all the way in. so you can buy a 500k house cash; that's all you can do. that can buy you a shed. not enough dude. you think 110% of a cent account is a good return? losers always have excuses why they are not making it in forex. they got another source of income. that sound like a forex educator. I can see where you are going with this with your thread. sooner or later you will be selling something here in FF. we can smell turds like you a mile away.
Only a retard questions a return over 100% in less than a year as though its a joke. You must be one of those special kind of retards that throws everything into every trade because you have balls harder than a roo's turd drying in that hell hole of a country you live in. I have no interest in teaching plebs like you. You come on here calling people losers because your'e a loser. KEEP DREAMING OF BECOMING A TRADER CAPTAIN BOGAN
Quoting EcoTrader
{quote} Only a retard questions a return over 100% in less than a year as though its a joke. You must be one of those special kind of retards that throws everything into every trade because you have balls harder than a roo's turd drying in that hell hole of a country you live in. I have no interest in teaching plebs like you. You come on here calling people losers because your'e a loser. KEEP DREAMING OF BECOMING A TRADER CAPTAIN BOGAN
loser forex educator; "have another source of income to support your trading" what a gambling turd.

you are only fooling yourself and your gf

we will be watching your transition to commercial section in no time.

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Quoting alphadude
{quote} loser forex educator; "have another source of income to support your trading" what a gambling turd. you are only fooling yourself and your gf we will be watching your transition to commercial section in no time. https://www.youtube.com/watch?v=qHgd-H72Zuc

Is that the best response you can come up with. You have nothing better to say that regurgitate the same thing you said in your previous post. You can see i am up 10% this month but you call me a loser. maybe you should return to bush school where they can teach you how to swat flies, i hear they are a problem there. you'd be better at that because your sh!t at constructing an intelligent response.
Quoting EcoTrader
{quote} Is that the best response you can come up with. You have nothing better to say that regurgitate the same thing you said in your previous post. You can see i am up 10% this month but you call me a loser. maybe you should return to bush school where they can teach you how to swat flies, i hear they are a problem there. you'd be better at that because your sh!t at constructing an intelligent response.
losers like you have a pattern; they attack other things like the country or the bush. what a low life.

Inserted Video
Quoting alphadude
{quote} losers like you have a pattern; they attack other things like the country or the bush. what a low life. https://www.youtube.com/watch?v=qHgd-H72Zuc
Like you did here

Quoting alphadude
Now it is obvious what kind of trader you are; a loser for sure.
You started it moron. Now you are unable to drive it home because you have the intelligence of a caveman
Quoting EcoTrader
{quote} Like you did here {quote} You started it moron. Now you are unable to drive it home because you have the intelligence of a caveman
you don't cut it loser; it is written in your forehead
Quoting alphadude
{quote} you don't cut it loser; it is written in your forehead
its "on your forehead" moron, not in it. Please elaborate how someone writes in their forehead
Quoting EcoTrader
{quote} its "on your forehead" moron, not in it. Please elaborate how someone writes in their forehead
you don't give up attention seeking loser; grumpy old man
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