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False Prophets

  • #2,061
  • May 26, 2019 12:18pm May 26, 2019 12:18pm
Quoting OutThere
I kiss and makeup with EcoTrader any time. I actually like the guy. Friends still?
Good on you man!!!
  • #2,062
  • May 26, 2019 12:19pm May 26, 2019 12:19pm
Quoting OutThere
{quote} I am not trying to win per se. He has got the red flag and is well spoken and convincing and despite all my verbal insults, I think he is a very bright guy. However, millions of hours or days accumulatively have been spent in developing all sorts of tools for TA trading. To come here and promote that it is all BS is an insult to all the developers and all the traders who have put a lot of time, effort and real cash into making something work. I admit not all TA works and not all TA users will be successful but TA is more than something to...

For the third time, and the last, I have never made a blanket statement that TA is useless. Why the heck would I start a thread with it if I thought it was shit. To be specific, on its own its shit. There's a difference.
  • #2,063
  • May 26, 2019 12:20pm May 26, 2019 12:20pm
Quoting OutThere
I kiss and makeup with EcoTrader any time. I actually like the guy. Friends still?
I love you outthere, always have, always will. No harm intended
  • #2,064
  • May 26, 2019 12:21pm May 26, 2019 12:21pm
Quoting EcoTrader
{quote} I love you outthere, always have, always will. No harm intended
  • #2,065
  • May 26, 2019 12:23pm May 26, 2019 12:23pm
Quoting EcoTrader
{quote} For the third time, and the last, I have never made a blanket statement that TA is useless. Why the heck would I start a thread with it if I thought it was shit. To be specific, on its own its shit. There's a difference.
Thank god for google image search!
Attached Image
  • #2,066
  • May 26, 2019 12:24pm May 26, 2019 12:24pm
Quoting EcoTrader
{quote} I love you outthere, always have, always will. No harm intended
Now I am in tears.
Love you too.
  • #2,067
  • May 26, 2019 1:00pm May 26, 2019 1:00pm
As we can see, OutThere is a gracious winner. Thumbs up!
Attached Image (click to enlarge)
Click to Enlarge Name: ipl-10_042713120405.jpg Size: 105 KB
If you want in on my experimental EA, PM me.
  • #2,068
  • May 26, 2019 1:14pm May 26, 2019 1:14pm
Quoting EcoTrader
{quote} For the third time, and the last, I have never made a blanket statement that TA is useless. Why the heck would I start a thread with it if I thought it was shit. To be specific, on its own its shit. There's a difference.
After years of failing since 2006, I started to trade events using nothing but currency strength. That would be the only way I would manually trade Spot FX....momentum from "news flows" to match with all pairs of the same currency and use my eyes to gauge/feel momentum and use my fingers to pound on opening rapid scalp trades. It worked for me only on FXCM's TS2 using tick chart and gauge the bid/ask spread as a trigger... simple, elegant, time efficient and most importantly, trading window could be scheduled lol
Staying in my lane...
  • #2,069
  • May 26, 2019 1:34pm May 26, 2019 1:34pm
Quoting VEEFX
{quote} trading window could be scheduled

That is the beauty of trading economic scheduled news. I can literally plan my trading schedule months in advance if I wish, however, I only look 2 weeks ahead. It is the only way I am able to make time for trading while managing business and consulting.
  • #2,070
  • May 26, 2019 1:36pm May 26, 2019 1:36pm
Quoting VEEFX
{quote} After years of failing since 2006, I started to trade events using nothing but currency strength. That would be the only way I would manually trade Spot FX....momentum from "news flows" to match with all pairs of the same currency and use my eyes to gauge/feel momentum and use my fingers to pound on opening rapid scalp trades. It worked for me only on FXCM's TS2 using tick chart and gauge the bid/ask spread as a trigger... simple, elegant, time efficient and most importantly, trading window could be scheduled lol
You should try FX futures, if you want to feel the market, order flow and tape reading will be a big plus.
i lose money for a living
  • #2,071
  • May 26, 2019 1:45pm May 26, 2019 1:45pm
Quoting tylerbose
{quote} You should try FX futures, if you want to feel the market, order flow and tape reading will be a big plus.
I should have started with FX futures but needed to hit the 'reset' button on currencies so begin my focus with NQ in futures last October. So far, no TA or PA setup has materialized on NQ and I am trying to steer clear of company earnings as event trigger (or fundamentals for that matter).
Staying in my lane...
  • #2,072
  • May 26, 2019 1:57pm May 26, 2019 1:57pm
Quoting VEEFX
{quote} I should have started with FX futures but needed to hit the 'reset' button on currencies so begin my focus with NQ in futures last October. So far, no TA or PA setup has materialized on NQ and I am trying to steer clear of company earnings as event trigger (or fundamentals for that matter).

How are you finding NQ otherwise?

I have considered trading a major indice or 2. My current client has over 2000 indices they produce and manage with more being built. They make money hand over fist with this stuff and revenue per capita is unreal (2.5 billion company value with 250 employees). They make 15k per custom index per month for institutional clients that provide them with the formulas which is all done in matlab.
  • #2,073
  • Edited 3:30pm May 26, 2019 2:24pm | Edited 3:30pm
Quoting EcoTrader
{quote} How are you finding NQ otherwise? I have considered trading a major indice or 2. My current client has over 2000 indices they produce and manage with more being built. They make money hand over fist with this stuff and revenue per capita is unreal (2.5 billion company value with 250 employees). They make 15k per custom index per month for institutional clients that provide them with the formulas which is all done in matlab.
Nice. I am sure money is to be made in everything else outside of trading and creation of such indices or even theoritical models is a nice way to make millions. There is a lot of value the major corporations seek from such theoreticians. I know this for sure as my parent company employs a group in Ireland with over 25 PhDs who job is nothing more than evaluating global risk of natural disasters for the re-insurance industry (i.e. insuring the insurers!) in real time. We are talking triple digit billions in catastrophic coverage around the world in 170+ countries. You simply cannot 'test' such models in a live environment lol. These guys are making double digit million per year in salary for their skillset. I wish I had more math skills. I can barely spell calculus so I should not even call myself a "quant" lol

Speaking of indices, I had an idea of creating a Global Volatility-based Currency Index that could be used to hedge exposure in individual currency. The closest we have is USD index which is the worst to manage exposure because regardless of what currency we trade or which currency the account is denominated in, we are ALWAYS trading the USD in the fiat currency world. The closest I would find to my idea is the WCU but then it was too late as I had already lost my trust in the retail FX industry to explore this any further.

Regarding NQ, I can write a book on his index lol. It behaves similar to the GJ or GN... highly unpredictable and sporadic in nature. Mostly sentiment driven because of it's nature in the weightings. Personally, I would have designed the weighting a bit better. It is far more jumpy than ES and YM imo. Nothing has worked consistently and finding when it will trend is easier than when it is going to range. Both are recipes for account blowups imo so the key (as with any strategy) is the figure out how to consistently trade the market for each of the strategies. Designing a strategy which will work in both trendy and rangy markets is still something I have yet to give up as that is the main reason why 99% fail in any trading endeavor and that is where my focus lies at this point. Everyone made good money in dec/jan/feb and many lost their shirts in April when NQ became super rangy. Regardless, my focus is always trade divergence on volatile pairs and to somehow make divergence work in rangy markets as well. My techniques worked in Currencies but somehow they fail in NQ :-(
Staying in my lane...
  • #2,074
  • May 26, 2019 11:04pm May 26, 2019 11:04pm
Quoting OutThere
{quote} NumbNuts, obviously you don't got any or you would accept my challenge.{image}
I wish I could get your profit factor. Please be careful with your money management so you won't to do like George
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  • #2,075
  • Edited 5:26am May 27, 2019 4:52am | Edited 5:26am
Quoting Hutch
{quote} I wish I could get your profit factor. Please be careful with your money management so you won't to do like George {image}
but GeorgeDow was no trader. this was a simple scam. nothing was traded inside the account history, it was all created by the broker... later when enough people are inside the scam you open some crazy high trades and kill the whole account , so the marketmaker broker has all the account money in the pocket. this broker do this often... presenting very good account created by history faking (no problem in own broker)... filling pamm account with money by greedy traders with not knowledge about trading and reality.... and let it crash... repeat the steps......

in myfxbook you can read a lot about such fakers/scammers with PAMM scam accounts with this broker... georgedow was not the first scam there, there was some other big scams (georgedow, DenT,Jordan....long list.... all same scams by same broker)
  • #2,076
  • May 27, 2019 6:17am May 27, 2019 6:17am
Quoting PowerMoon
{quote} but GeorgeDow was no trader. this was a simple scam. nothing was traded inside the account history, it was all created by the broker... later when enough people are inside the scam you open some crazy high trades and kill the whole account , so the marketmaker broker has all the account money in the pocket. this broker do this often... presenting very good account created by history faking (no problem in own broker)... filling pamm account with money by greedy traders with not knowledge about trading and reality.... and let it crash... repeat...
Thanks for the info. This also means that myfxbook is also guilty for letting traders from whatever the broker is post accounts.
  • #2,077
  • Edited 6:52am May 27, 2019 6:27am | Edited 6:52am
Quoting Hutch
{quote} Thanks for the info. This also means that myfxbook is also guilty for letting traders from whatever the broker is post accounts.
myfxbook only displays what is in your account (sometimes displays wrong because cant be read correct and so possible to use some tricks to have extrem higher win then it was - but thats an other story). nothing more, nothing less... myfxbook say not whats inside the account is true and this history is not scam or faked.
when you are the broker or you are connected (even when not, there are a lot of possibilities ) you can "create" any trade in past inside your own account, any history can be presented, anything changed and done... nothing is impossible.. and will cost you nothing... any trade is not done in real and with withdraws you get the money....

so of course in myfxbook can much be faked too (and is done), because it only dislays the account informations... but guilty not really, of course they display also useless things (like added pips won .. what only losers and beginners calculate and watch and so on....) , but myfxbook will also sell signals and copying... and so need to display what beginners and losers watch and hide more important real numbers (or make it less visible)... so easy.... simple business...

but thats same with all websites displaying account informations.
even in wikifolio its possible to manipulate trades easy (before open to public extrem easy because of the time gap you have )..... so anyone can only learn basics, whats possible in trading and what not (what strategy can be true and what 100% sure fake), and whats possible in faking and scamming and so know in some seconds whats real or whats not.
  • #2,078
  • May 27, 2019 7:44am May 27, 2019 7:44am
Quoting PowerMoon
{quote} myfxbook only displays what is in your account (sometimes displays wrong because cant be read correct and so possible to use some tricks to have extrem higher win then it was - but thats an other story). nothing more, nothing less... myfxbook say not whats inside the account is true and this history is not scam or faked. when you are the broker or you are connected (even when not, there are a lot of possibilities ) you can "create" any trade in past inside your own account, any history can be presented, anything changed and done... nothing...
Thanks again you're a wealth of information. Many times I was asked to show my account in myfxbook and always refuse. Best is to trade with a regulated broker but even that doesn't prevent fraud. Remember MF Global.
  • #2,079
  • May 27, 2019 8:01am May 27, 2019 8:01am
Quoting Hutch
{quote} Thanks again you're a wealth of information. Many times I was asked to show my account in myfxbook and always refuse. Best is to trade with a regulated broker but even that doesn't prevent fraud. Remember MF Global.
in most cases an account can not show really, if one trader is a winner. you can have many accounts, many in loss and present a winning account would let you look like a winner( and many do so) .... if a account is not 100k or bether much more and running at least 3 or bether 5 years, i would not even think about if this person is sucessfull or not, because its not possible to see from one account.

many people earn more wage than other win in trading, so this people are the real winner. a winner is someone, who win with his invested trading time more money, then he would have in his normal busness with wages .. if you dont like your business job its maybe an other part to think about.
  • #2,080
  • May 27, 2019 11:17pm May 27, 2019 11:17pm
Quoting OutThere
{quote} I am not trying to win per se. He has got the red flag and is well spoken and convincing and despite all my verbal insults, I think he is a very bright guy. However, millions of hours or days accumulatively have been spent in developing all sorts of tools for TA trading. To come here and promote that it is all BS is an insult to all the developers and all the traders who have put a lot of time, effort and real cash into making something work. I admit not all TA works and not all TA users will be successful but TA is more than something to...
Great advice...now please tell me what works in TA. I have been struggling for months to find something that works consistently on NQ(futures). Nothing to my liking on most delivered indicators and most strategies I have come across over the years. Why? I have no freaking idea. I am at a loss lol
Staying in my lane...
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