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Make Money Trading Forex? This way, or the highway 29 replies

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My way to highway

Quoting Hutch
{quote} Good luck Profitfarmer. Looks like farming pips is profitable. Have a nice weekend all
all i can tell to any aspiring farmers: pip farming is a lot more profitable than crop farming!
and in the past 10 years tried my hand on a few things: rice, sugarcane, chili, mushroom, papaya, chicken, pigs, ducks, catfish, tilapia...and probably another 1-2
sometimes a lesson to know what not do do is a good step toward zooming on in what to do?
just like testing out ideas.
getting hands on, is the best lesson, up close and dirty is when the most learnt about something.
found these old pictures from 5 years ago.
hands on manual backtesting:
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hands on manual rice cutting:
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sometimes just have to get things done. no excuses!

happy weekend!
there is always, always another trade!!
Quoting profitfarmer
{quote} all i can tell to any aspiring farmers: pip farming is a lot more profitable than crop farming! and in the past 10 years tried my hand on a few things: rice, sugarcane, chili, mushroom, papaya, chicken, pigs, ducks, catfish, tilapia...and probably another 1-2 sometimes a lesson to know what not do do is a good step toward zooming on in what to do? just like testing out ideas. getting hands on, is the best lesson, up close and dirty is when the most learnt about something. found these old pictures from 5 years ago. hands on manual...
You paid your dues and I wish you much success in trading. Because you don't live in a rich country and also your background you might want to take a look at what riclater211 think about people in poor countries and tell him what you think: https://www.forexfactory.com/showthread.php?p=12279021#post12279021

Crop farmers in the US are having a hard time because of the stupid trade war that President Trump started for no valid reason. As a result taxpayers will bail out farmers to the tune of $30 billion. After the large bailout of failed banks in 2008 I think my country should change its name from United States of America to the United Socialist States of America since only socialist countries support non performing businesses.

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  • #1,083
  • Quote
  • May 26, 2019 10:14am May 26, 2019 10:14am
Quoting profitfarmer
{quote} all i can tell to any aspiring farmers: pip farming is a lot more profitable than crop farming! and in the past 10 years tried my hand on a few things: rice, sugarcane, chili, mushroom, papaya, chicken, pigs, ducks, catfish, tilapia...and probably another 1-2 sometimes a lesson to know what not do do is a good step toward zooming on in what to do? just like testing out ideas. getting hands on, is the best lesson, up close and dirty is when the most learnt about something. found these old pictures from 5 years ago. hands on manual...

The true character is in the international blockbuster.
  • #1,084
  • Quote
  • May 26, 2019 10:16am May 26, 2019 10:16am
[quote = Hutch; 12292564] {quote}你支付了会费，我希望你在交易中取得很大的成功。因为你不是生活在一个富裕的国家，也不是你的背景，你可能想看看riclater211对贫穷国家人们的看法，并告诉他你的想法：https：//www.forexfactory.com/showthread.php ？p = 12279021＃post12279021由于特朗普总统没有正当理由的愚蠢贸易战，美国的农民正在经历艰难时期。因此，纳税人将拯救农民300亿美元。在2008年对失败的银行进行大规模救助之后，我认为我国应该从美利坚合众国改名为美国社会主义国家，因为只有社会主义国家才支持非执行企业。
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I am sorry, I am in a socialist country, and the trading station is not good for the country.
  • #1,085
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  • May 27, 2019 12:20am May 27, 2019 12:20am
Quoting peakqiao
[quote = hutch; 12292564] {quote}你支付了会费，我希望你在交易中取得很大的成功。因为你不是生活在一个富裕的国家，也不是你的背景，你可能想看看riclater211对贫穷国家人们的看法，并告诉他你的想法：https：//www.forexfactory.com/showthread.php...
我是一个在中国生活和工作的美国人，我不爱我的总统和他的愚蠢政策。在新加坡尝试oanda。
end of the week.
end of the month.
the day count is #15.
even with the losing day on the 6th May, the month still passed, if just, the double digit mark.
the only highlight since the last update was about a week ago some execution issues, that i complained about, but expected little.
ended up a decent balance adjustment ( was some heavier trading down that day).
what i learned that myfxbook dont account for that.
not that it really matter; 0.5% missing from the performance for the month, not a big issue. after all, the money is there.

just some thoughts;
recently some thread once again flared up with discussion about pips, and how to count them.
the usual BS.
meaningless, for real. dont count them! period. lol.
why?
even with same size, ie 1 lot, one pair has pip value of 6.5$, another 12$....what if i make 12 pips x6.5$ and lose 10 pips x12$...did i make money?
+2 pips or -42$?
same lot size. should be pip for pip. yes, the BS.
one day the wannabe traders wake up, and realize that the supermarkets dont sell for pips...their prices are in $$$.
when trade for a living = trade for $$$.
in the end, $$$ result is all that matters, the rest is trying to stretch the reality to look bright(er).

happy weekend!
there is always, always another trade!!
Happy weekend ☺
Quoting Mr.yen
Happy weekend ☺
YES!!again!!have a good one bud...Nice update i like the pips counting....
Insanityoing same ting over expecting different results..Einstein
Quoting profitfarmer
end of the week. end of the month. the day count is #15. even with the losing day on the 6th May, the month still passed, if just, the double digit mark. the only highlight since the last update was about a week ago some execution issues, that i complained about, but expected little. ended up a decent balance adjustment ( was some heavier trading down that day). what i learned that myfxbook dont account for that. not that it really matter; 0.5% missing from the performance for the month, not a big issue. after all, the money is there. just some...

This pains me but I would have to disagree, there needs to be a distinction between trades and traders. I would say the better trades are the one that generates pips. The better "Trader" would be the person who generates better cash $$$.

The thing is if you are generating pips but losing money it's your money management that's the problem not the trades. This is the easiest thing to fix, just place proportional lot sized trades (adjusted to currency). If your are generating cash but losing pips you have a bigger issue, that I wouldn't know how to solve.
Trading is a Zero sum game. Someone winning means someone losing.
Quoting brody477
{quote} This pains me but I would have to disagree, there needs to be a distinction between trades and traders. I would say the better trades are the one that generates pips. The better "Trader" would be the person who generates better cash $$$. The thing is if you are generating pips but losing money it's your money management that's the problem not the trades. This is the easiest thing to fix, just place proportional lot sized trades (adjusted to currency). If your are generating cash but losing pips you have a bigger issue, that I wouldn't know...
to be honest, you can agree or disagree, it makes no difference.
end of the day everyone, and lets repeat on EVERYONE trades for the $$$.
i am aware that in the example above i used, one could get out his calculator, or have a daily printed excel spreadsheet printed and try to do lot size adjustment on the go when scalping to the different pairs and their pip values.
more than a bit impractical, but if anyone has got the time and the drive for it, can do.
could do after every trade a new equity adjusted lot size too, for keeping the same exact risk %, maybe after a gain on 2 lot the next should be 2.01 lot to risk the same%, or reverse after a loss 1.99 lot....would the pip generated on 1 or another weight more, or equal? a pip is a pip, after all, same pair, within the same month...

my statement is a reference for one and one thing only:
a trade, and its pip count is meaningless for the end goal.
yes, it is a measure, but it isnt the ultimate one...
comes the monthly statement, has a number on it...does it cover all the payables and the living cost?
it is a simple, straightforward Y/N question to ask oneself.
could go on and on, ad infinitum, about the finer details or this or that.
but the truth is summed up in that simple Yes or No what is answered.

happy trading!
there is always, always another trade!!
Quoting profitfarmer
{quote} to be honest, you can agree or disagree, it makes no difference. end of the day everyone, and lets repeat on EVERYONE trades for the $$$. i am aware that in the example above i used, one could get out his calculator, or have a daily printed excel spreadsheet printed and try to do lot size adjustment on the go when scalping to the different pairs and their pip values. more than a bit impractical, but if anyone has got the time and the drive for it, can do.
Had a nifty little indi developed to auto calculate position size directly on the chart (MT4). Anyone can feel free to give it a blast.

Just stick it in the corner, set your SL and Risk and it get's the job done, plus auto calculates for each symbol.

S = Stop Loss in pips.
R = Risk %.
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Quoting C-12
{quote} Had a nifty little indi developed to auto calculate position size directly on the chart (MT4). Anyone can feel free to give it a blast. Just stick it in the corner, set your SL and Risk and it get's the job done, plus auto calculates for each symbol. S = Stop Loss in pips. R = Risk %. {file} {image}
Are you saying that an Indicator could automatically calculate the lot size required instantaneously, boy who would have thunk it ;P
Trading is a Zero sum game. Someone winning means someone losing.
Quoting brody477
{quote} Are you saying that an Indicator could automatically calculate the lot size required instantaneously, boy who would have thunk it ;P
This one is is about as basic and discreet as you get, no frills you might say.
  • #1,094
  • Quote
  • Jun 21, 2019 11:55am Jun 21, 2019 11:55am
day#26...
right at 1/3rd of the previous run.
trading is as usual, actually feeling very much in "the zone". since the last losing day it was 230 entries done, without any major DD event, ie. rarely hitting to even 2%, mostly sub 0.5% or even less.
a good part is due that the account is compounding, but the position sizes were by large stayed at place. ( although flexible, both size and placing/pacing).
it was by design, but slowly i think i will start to adjust it to reflect on current equity level better.
the current run. consistency is possible, day to day. also possible without carrying trades very long...for the period: Avg. Trade Length:16m
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from next week also will start to trade a new prop deal, with a good potential in a 3-6 months timeframe if things going smooth.
the daily loss limit is pretty tight, 2.5%, but that is what the copier software there for, to do the adjustments and deal with the equity SLs if needed.
it is a smallish, newish private hedge fund, not a pay ahead for the privilege prop shop deal.
i said before, and it still stands as much as ever: those who are (semi)-serious on trying to trade for a living, but dont necessarily have the funds to do on their own, prop trading may be a good route to take.
i love trading, bcos it doesnt discriminate for age, look, color, gender, for anything!
all what one would really need is a solid 6+ month track record ( live trading of course!, able to verify it by inv pass may be needed too).
if there is a "door" to open in trading, that is the "key"!
there are many doors out there. lots of money potentially.
but only you, the trader can open them, they arent open by themselves!!
make your own key!!

happy weekend!
PF
there is always, always another trade!!
Quoting profitfarmer
day#26... right at 1/3rd of the previous run. trading is as usual, actually feeling very much in "the zone". since the last losing day it was 230 entries done, without any major DD event, ie. rarely hitting to even 2%, mostly sub 0.5% or even less. a good part is due that the account is compounding, but the position sizes were by large stayed at place. ( although flexible, both size and placing/pacing). it was by design, but slowly i think i will start to adjust it to reflect on current equity level better. the current run. consistency is possible,...
That's really great news Zoltan...In addition to your trading skills, the prop firm also gets an added bonus-your sense of humor...
  • #1,096
  • Quote
  • Jun 22, 2019 11:17am Jun 22, 2019 11:17am
Quoting profitfarmer
day#26... right at 1/3rd of the previous run. trading is as usual, actually feeling very much in "the zone". since the last losing day it was 230 entries done, without any major DD event, ie. rarely hitting to even 2%, mostly sub 0.5% or even less. a good part is due that the account is compounding, but the position sizes were by large stayed at place. ( although flexible, both size and placing/pacing). it was by design, but slowly i think i will start to adjust it to reflect on current equity level better. the current run. consistency is possible,...
i'm slowiy trying to break 20...

day 26 would approve your performance. the ladies will go crazy over performance too

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Working towards CME membership
Quoting hilmy83
{quote} i'm slowiy trying to break 20... day 26 would approve your performance. the ladies will go crazy over performance too https://www.youtube.com/watch?v=x5vp8X2pXsE
see Hilmy,
you can actually do even better than with using the high lots per setup, just grabbing smaller bites...with without major loss they still keep adding up nicely, by the end of the month.
i also find, that with closing profitable days, it is a lot easier to stay with a healthy, positive trading mindset, we could call "the zone".
my current goal would be to break the previous high, 78 days...but really wish to go for 100+...will see.
not an easy task, but nor was to break the 60 days one before, yet still have.
magic can happen one day a time!!

happy weekend!
there is always, always another trade!!
  • #1,098
  • Quote
  • Jun 23, 2019 12:33am Jun 23, 2019 12:33am
Congrats on the prop deal pf. This is all that trading is about; small profits each day, stacking up those 1s and 2s instead of trying to hit homeruns
Quoting straitshaur
Congrats on the prop deal pf. This is all that trading is about; small profits each day, stacking up those 1s and 2s instead of trying to hit homeruns
that is how i see it, and that is what working for me.
there is always, always another trade!!
Well some months ago i contacted Profitfarmer abaut hes trading and he was so nice that he traded with me on skype giving me live calls on levels to enter on and i recovered a loss i had of 300 dollars and took me to 300+ dollars in profit in a little over a month and then i went my own way and needed some money for car repairs and i tried futures and scalping nasdaq because with futures there are almost no spread,but as all the futures traders heres talking shit abaut forex i can say futures sucks...So i played around with my ea some and contacted Profitfarmer and he was so nice to let me trade with him on skype again and the first day in june i made a mistake and added to much way to fast so got into some DD and someting happened with my closeall EA and it closed in around 11% loss the account was a lot smaller than it is now so the loss where someting 120-150 dollars and after that i have been a lot safer in possisions and adding so i have now with Profitfarmers help recovered all loss and made 15 dollars on top of that in June...So can start fresh on new month Monday...I will be on my own some days next week because he is tied up with other tings,but i think i will be fine just using half sizes to start with...The way he see the levels for entry is just amazing i have been trading with him for 10-12 weeks in total now and i am understanding more what he looks for,but still the way he spots entrys are just totally outthere....Monday i am also to start a EA its a EA posted for free here in forum and i think i am to start a journal because of this EA that is a hybrid grid and i been testing it and had on live accounts on and off also demos for over a year and think i have final settings so i can have it making 3-7% a monh low risk just trading on the side....I will not share my setfiles,but you will see how it behaves and can adjust accordingly,but still my main income will be my manual trading with Profitfarmer as long as i am wanted bye him....lol...If you want to make real money in Forex read this journal as many times as you need to and practice a little on demo,but transfer to live as soon as you feel confident...Its all in this journal and start with 0.01 on 1000 dollar account and you will be fine if you follow what is here...Then after a while you can do 0.02...I trade 0.08-0.1 of my 2800+ account with a 20% cutoff,but only half that when on my own...Happy trading...

BTW This month has been super slow...
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Insanityoing same ting over expecting different results..Einstein
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