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has anyone EVER seen a successful trader/trading system?

  • #1,041
  • Dec 26, 2019 11:57pm Dec 26, 2019 11:57pm
Based on what I've seen here so far it isn't a wonder why you ask this question. Kinda of an odd place, so many people though.
  • #1,042
  • Dec 27, 2019 12:09am Dec 27, 2019 12:09am
Quoting huang9
{quote} constant earning? periods greater than 2 months...
That's not consistency... Consistency is measured over years I think.
J12
  • #1,043
  • Dec 27, 2019 12:10am Dec 27, 2019 12:10am
Quoting BarberQc
Manual trading is the only way, those who are sticking to a 1% risk management are the one in consistent profit. Why? Because they are thinking in term of probabilities instead of expectation, there is no system or what so ever, no secret. Only experience can make you successful like in any kind of business. People get into trading thinking they must be lacking of something after 1-2years of experimental trading. Meanwhile they go to a university knowing damn right they need to get those 4-7years studying to be great in the domain they want to be...
1% risk management? Meaning each trade you only risk 1% of your account? Is this what you're saying dear friend??

J
J12
  • #1,044
  • Dec 27, 2019 12:44am Dec 27, 2019 12:44am
Quoting j12
{quote} 1% risk management? Meaning each trade you only risk 1% of your account? Is this what you're saying dear friend?? J
yup
  • #1,045
  • Dec 27, 2019 12:49am Dec 27, 2019 12:49am
Quoting BarberQc
{quote} yup
Doesn't really make any sense to me to do that. If I did that I'd probably need a £1m account.

"those who are sticking to a 1% risk management are the one in consistent profit. Why? Because they are thinking in term of probabilities"

Do you know anyone that has done this that can prove it over a period of time with consistency year in year out with a verified 3rd party?

Interesting thought process regardless.

Regards

J
J12
  • #1,046
  • Dec 27, 2019 1:02am Dec 27, 2019 1:02am
Quoting j12
{quote} Doesn't really make any sense to me to do that. If I did that I'd probably need a £1m account. "those who are sticking to a 1% risk management are the one in consistent profit. Why? Because they are thinking in term of probabilities" Do you know anyone that has done this that can prove it over a period of time with consistency year in year out with a verified 3rd party? Interesting thought process regardless. Regards J
No need of a million in order to be willing to create consistency, its a mental based rule to compound an account effectivly by having losses of 1% while swinging good trade for days/weeks for 3-4-5-6%, thats how instutitions does it, and therefore thats where the real money is.

The reason is simple, people talks about money and good risk reward, they often do some 10-30pips stop loss trade which can wipe you out in a minute. Doing this instead of allowing the market the space it need (50-100pips SL) will make your winning ratio very effective and by this way your account profit constistent.

If you need a million to do this, it is because you didnt follow the rules of doing 3 times more than what you need for expenses, which will never allow you to operate on a 1% risk per trade consistent result.

I am doing it, knows a couple person doing it, and that is how only 1% of real traders can afford everything they want. All the rest is bullshit and people think there is a secret.

By the way if you still need a million to do so, go back working at a job like I did to get to the point you need to for a 1% risk per trade trading lifestyle.

Regards
  • #1,047
  • Dec 27, 2019 1:11am Dec 27, 2019 1:11am
Quoting BarberQc
{quote} No need of a million in order to be willing to create consistency, its a mental based rule to compound an account effectivly by having losses of 1% while swinging good trade for days/weeks for 3-4-5-6%, thats how instutitions does it, and therefore thats where the real money is. The reason is simple, people talks about money and good risk reward, they often do some 10-30pips stop loss trade which can wipe you out in a minute. Doing this instead of allowing the market the space it need (50-100pips SL) will make your winning ratio very effective...
Do you have a trade explorer to demonstrate your live results to us & that you're in the 1% of winning traders that can afford everything they want? Should say over a period of time..
J12
  • #1,048
  • Dec 27, 2019 1:15am Dec 27, 2019 1:15am
Quoting j12
{quote} Do you have a trade explorer to demonstrate your live results to us & that you're in the 1% of winning traders that can afford everything they want? Should say over a period of time..
No, it wont change anything my friend, trust me.
  • #1,049
  • Edited 1:45am Dec 27, 2019 1:32am | Edited 1:45am
Quoting BarberQc
{quote} No, it wont change anything my friend, trust me.
Well yes it does change everything. It's miss leading to the community. Especially the newer members who are here to try to learn.

You're saying some big things here, telling me to go back to day job, but I've never left my day job in the first place & I don't intend to either. You don't even know what my day job is.

You're saying don't risk more then 1% & you'll be successful, you'll be in the 1% who can get everything. But on the trade explorer attached to your account you're in 29%+ drawdown on your open trades, if I'm not mistaken that's more than a 1% risk. You're totally contradicting yourself.

Please just look at what you're saying before typing. Sate a point, nothing wrong in that, but when you're saying only those are successful who risk 1% etc just back it up

And don't tell somone to go back to their day job etc it's very unprofessional and you instantly lose credibility.
Regards
J
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J12
  • #1,050
  • Dec 27, 2019 1:51am Dec 27, 2019 1:51am
Quoting j12
{quote} Well yes it does change everything. It's miss leading to the community. Especially the newer members who are here to try to learn. You're saying some big things here, telling me to go back to day job, but I've never left my day job in the first place & I don't intend to either. You don't even know what my day job is. You're saying don't risk more then 1% & you'll be successful, you'll be in the 1% who can get everything. But on the trade explorer attached to your account you're in 29%+ drawdown on your open trades, if I'm not mistaken that's...
You are mad for something I said that I did myself lol, go back to a job like I DID myself in order to invest more money, that is just a must...

You’re taking it very seriously my friends, that is a 50k to 1m challenge and it is not following the statement i’ve mentionned above.
  • #1,051
  • Dec 27, 2019 1:58am Dec 27, 2019 1:58am
Quoting BarberQc
{quote} No, it wont change anything my friend, trust me.
I'm not getting mad, I'm just questioning what you're saying that only people who risk 1% can get everything they want.

Regardless your statement here says it all. I trust you., I trust what you're saying without any proof. Hopefully others will to

Good luck in your challenge.

Regards

J
J12
  • #1,052
  • Dec 27, 2019 2:10am Dec 27, 2019 2:10am
Quoting j12
{quote} I'm not getting mad, I'm just questioning what you're saying that only people who risk 1% can get everything they want. Regardless your statement here says it all. I trust you., I trust what you're saying without any proof. Hopefully others will to Good luck in your challenge. Regards J
Me and person doing that I know is on 1:100, it pretty much the major part for it in order to work.

mathemathically, enter a trader with a 100k account, risking 1% which is 1000$, on a trade setup of 60pips stop loss and 300pips take profit.

Example on gbpud on current price, trading in USD for a 60pips stop loss risking 1% (1000$) would need a lot size of 2.5lot which is 17$ per pips x 60 = 1020$ so very near 1%. My target is to swing it for 3-4days for 300pips —-> 17$ per pips x 300 = 5100$. Doing this with expenriences should lead to a winning ratio of at least 2/3 (66%). Doing the same plan every time, being patient waiting for the good trades. 3 trades a week would lead to a 10200$ grow minus 1000$ loss because you win 2 lose 1

So for one week of risking 1% per trade on a 100k 1:100 USD account, ON 3 TRADE only, you should have a growth of 10%

thats how I work, and I hope it is more clear to you and everyone seeing what i’ve mentioned above,

thanks for the support

best regards, cheers
  • #1,053
  • Dec 27, 2019 2:14am Dec 27, 2019 2:14am
Do it again and again, its 30% a month, with 100k its 30k, with 1million its 300k, and that why I really mean people risking 1% can afford alot, I do know the balance does count alot, but the goals need to be growing it, not spending it, to achieve to high return of $ for the same % of risk
  • #1,054
  • Dec 27, 2019 2:30am Dec 27, 2019 2:30am
Quoting BarberQc
Do it again and again, its 30% a month, with 100k its 30k, with 1million its 300k, and that why I really mean people risking 1% can afford alot, I do know the balance does count alot, but the goals need to be growing it, not spending it, to achieve to high return of $ for the same % of risk
Well done good luck

Regards

J
J12
  • #1,055
  • Dec 27, 2019 11:19am Dec 27, 2019 11:19am
Quoting j12
{quote} That's not consistency... Consistency is measured over years I think.
I prefer over number of trades. Someone that makes 5 trades a year cannot be compared with the one that made 1000. Consistency means not giving back what you have made. A trader that makes money every 30 trades, I will say is consistent.
When you see it, BET big.
  • #1,056
  • Dec 27, 2019 11:52am Dec 27, 2019 11:52am
Quoting Rennaissance
{quote} I prefer over number of trades. Someone that makes 5 trades a year cannot be compared with the one that made 1000. Consistency means not giving back what you have made. A trader that makes money every 30 trades, I will say is consistent.
I understand what you're saying this is your view.

But what if your trading style does not consist of taking a 1000 trades? Yet I'm consistently making profits & growing the account over a 48 month period?? Would you say I'm not constant?

I think if I was to take 1000 trades it'll take me 18-20 years most probably, would you say I'll have to wait till then to show consistency?

Again I think it's more depending on your style of trading but I think quality over quantity. My view.

Regards

J
J12
  • #1,057
  • Dec 27, 2019 6:53pm Dec 27, 2019 6:53pm
Quoting j12
{quote} I understand what you're saying this is your view. But what if your trading style does not consist of taking a 1000 trades? Yet I'm consistently making profits & growing the account over a 48 month period?? Would you say I'm not constant? I think if I was to take 1000 trades it'll take me 18-20 years most probably, would you say I'll have to wait till then to show consistency? Again I think it's more depending on your style of trading but I think quality over quantity. My view. Regards J
The less trades you do the longer the time needed to prove consistency.
When you see it, BET big.
  • #1,058
  • Dec 28, 2019 9:28am Dec 28, 2019 9:28am
Quoting Rennaissance
{quote} The less trades you do the longer the time needed to prove consistency.
and why do we need to prove consistency?Personally, I need money to pay my monthly expenses.I don't give a shit about proving consistency on 1000 trades
Whether you think you can, or you think you can't,you're right. H.F.
  • #1,059
  • Dec 29, 2019 6:34am Dec 29, 2019 6:34am
Quoting josephcom
Update 13 Oct 2019: Please, after reading this post (the first post) take a look at this post too (click on the link) to better understand what I mean. Thank you... OK, it's time for me to ask the big question! For over 3 years, I've been trying to find a long-term successful strategy in Forex, but in vain! When I say 3 years I am talking about something like 5 to 10 hours a day!!! In a way, I've wasted 3 years of my dear life. I am one of the best computer programmers...

Hi

Fx trading is abstract really - everything starts with central banks interest rate bias and geopolitical news.

This is very broadly what I do. I realise it involves work - but its worth it.

I look to see what is the view of the banks (go to EXFnews) - try to get a consensus
Read all of the central bank speeches/statements- what are they looking at, and what are their forecasts, and views on interest rates over the short and medium term. On the FF calendar, filter over the last 6 weeks on each major currency - red/orange impact only (this is what I use) and see if recent news and data releases has matched central bank targets or is moving in that direction.

Also I look for trends over the last few months - and current values

  1. how is CPI doing, employment and especially note what figures each central bank views as important
  2. what are the leading indicators stating (job adverts, housing, timber)
  3. what else affects currencies (iron ore, crude oil, china, other countries etc..)
  4. this will give you a good idea on the strength of each currency - then monitor it and update your notes, every time we have a new event (eg (CPI figures)
  5. what risk events (CPI ...) are coming up- have traders under/overestimated figures
  6. What central bankers are due to speak - what are traders expecting, what are they likely to say - what will be the impact, are the dovish or hawkish- In light of recent figures are they likely to change their view
  7. Are there any major geopolitical events coming up- what are politicians likely to say (heads of state)- what will be the impact
  8. Where are the major support and resistance and pivot levels on the charts

I now have my finger on the pulse of each economy and when opportunities arise - I can take them in confidence
So I use VSA and pivots to help with my entries and exits.

EcoTrader has pdf on news trading that is well worth reading.

https://www.forexfactory.com/showthr...0#post12353510

I also like buy the rumour sell the news trades- these are my favourite type of trade.

A recent example is the pound - it did reach 1.35 - but then dropped 500+ pips as soon as the election was over

Also the reactions on news and data releases can give one an indication on whether the market is bullish or bearish on a currency

I realise that this is hard work (a least initially) however it is how the banks look at the market and they are the ones that drive currencies.

The one thing about trading like this - is that you rarely lose. And your winners are significantly higher than any losses.

  • #1,060
  • Dec 29, 2019 7:27am Dec 29, 2019 7:27am
I was going to write a longer post giving all the facts and solid reasons, but I will just skip the boring stuff and go directly to the conclusion.
No one, absolutely no one is making money in retail forex as a retail trader whose trading in retail forex is the only source of income.
Of course there is nothing wrong in trying provided one is free of that delusion and honest about it, lying to others is bad enough, but lying to oneself is worse.
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