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Are there any successful Traders in Forex Factory?

  • #361
  • Mar 26, 2017 4:31am Mar 26, 2017 4:31am
Quoting Mingary
{quote} "a successful trader is only successful up to the current time and not more (next month the account loses 50% ... is trader still successful" There will always be a next month that will wipe out the account..
Mingary think about what you said this applies to any business, its not always making a profit every second. But at the end of the month the small losses are not as big as the profit. A correctly run business will make money. Correct trading will also make money, if you lose 50% of your account in a month then you are not trading correctly. Sure you can trade for 6 months using no stop lose and because the market is ranging you always can get out with a profit. To my mind that is clear that you are not trading as a business, no business takes risks that big. If you do it in trading you might get away with it but one day it will wipe you out. As bull markets can last 10 years as long as you bought the SP500 and held you would be ok. Even with no stop. When a crash comes you will get wiped out. So in effect until a trader has been through a bull and a bear market, it all might have been down to luck.
  • #362
  • Mar 26, 2017 5:33am Mar 26, 2017 5:33am
Following your work. Thanks and
Regards
  • #363
  • Mar 26, 2017 5:56am Mar 26, 2017 5:56am
Quoting connect_ananth
Often the 95% losers and 5 % winner statistics is thrown out for the retail trading community . Instead of debating about why and how etc .. This thread is a call to all Successful traders in forex factory , to share their winning philosophy and learnings and systems if they want to share .. Just for the sake of thread , let us define success as " being in profit ( could be 1% also) net after atleast two years of Trading". So how many such traders have we got in forex factory .. I am not in that category .. so the quest continues ...

Live and profitable since 1 December 2015. attached actual traded results.
Attached File(s)
File Type: pdf Actual.pdf   46 KB | 586 downloads
I live entirely from the growth of my personal trading account
  • #364
  • Mar 26, 2017 11:35am Mar 26, 2017 11:35am
Quoting Hurst
{quote} Mingary think about what you said this applies to any business, its not always making a profit every second. But at the end of the month the small losses are not as big as the profit. A correctly run business will make money.
Indeed. I however like to add that many correctly run businesses would be very happy to have a monthly profit. Many (especially those in construction/engineers) live of 2 to 4 big (and longer running) contracts per year. In business just as in trading the question of financial consistency or just frequent profits is a question of time frame and frequency. No person with basic math skills would expect a monthly profit if an average trade/contract runs longer than that unless you have dozens or hundreds running at the same time with some to close every few days or weeks (selling beer is therefore probably much easier than selling land reclamation projects to the Emirates or Monaco). Money comes with the financial settlement, not from running a contract/trade. And that also explains why I advocate short term trading over long term.

Many businesses, if we're honest, simply last longer because of less (or even no) access to leverage and a much slower market. It is not the smarter thing to run a business, it just can be harder to go broke with a bang. Reasons for failure are indeed very similar.
  • #365
  • Apr 6, 2018 7:16am Apr 6, 2018 7:16am
[quote=connect_ananth;8037136]Often the 95% losers and 5 % winner statistics is thrown out for the retail trading community . Instead of debating about why and how etc .. This thread is a call to all Successful traders in forex factory , to share their winning philosophy and learnings and systems if they want to share .. Just for the sake of thread , let us define success as " being in profit ( could be 1% also) net after atleast two years of Trading". So how many such traders have we got in forex factory .. I am not in that category .. so the quest continues ...[/quote
I guess consistency is very important. Don't ever copy what the top trader over here are doing, I've cheeked almost all of them, their date and The return(really not satisfying)
I'll recommend what I've been doing for the last 3 years first on my fathers account now on mine
* never ever risk more then 10% of your total account, like if your have a $1000 mean 1 lot, do not risk more then 0.10 lot at a time
and even divide that 0.10 in 4 to 5 pieces (0.02).
in this way your capital will always be protected.
* Do the math in the name of your lord,( have realistic expectations), like mine is 20-30 % per month. this means on an account of $1000
20% is $200. divide $200 by avg trading days in a month that is 20. 200/20 =$10 a day. set targets per day and do the math every time your trade.
*do not panic and do not Brake your rule. that's all.
See my profile if it give you any help.
  • #366
  • Sep 5, 2019 1:08am Sep 5, 2019 1:08am
SUCCESSFUL EXPERT ADVISOR


https://www.forexfactory.com/showthread.php?t=945677
  • #367
  • Sep 5, 2019 2:38am Sep 5, 2019 2:38am
Hi im not consistently profitable yet Trading live account, but things are definetly going into right direction and i think i am now in my turning point.

I have backtested countless hours on forextester and am profitable on Simulator for years worth data.. (wow what an accomplishment) but thats not real money yet..

it all comes down to buying dips and pullbacks on higher timeframe "daily and 4hr" on daily I do buy 1 candle or 3 doesnt matter against current swing direction.. i prefer long zigzag or so called impulsive swings.. they last longest..

4hr chart i use always fibonacci to enter.

i have 3 main tools.. modified fibonacci 50 60 70 and 80 percent any above 50% but not reach 100 or over i would buy, the cheaper price is better… i also use zigzag and 13smoothed average to highlight current swing and direction.

13smoothed average is just my double confirmation to zigzag defaults.. Price have to be cheap before i care to risk my money. I could make Small risk vs high reward trades yes sometimes but i am targeting 1 to 2 RR trades and i often time can cut my risk more than half. Most important to me is to find cheap prices and manage risk.. profit comes itself if i am doing everything right.

i am in point where setups jump to my eyes if i find anything worthy.. i know that my low 40 to 50% winrate is enough if i keep cutting risk.

ok i dont know if this was any help to anyone and i dont know why i am posting this..
  • #368
  • Sep 5, 2019 2:48am Sep 5, 2019 2:48am
and 13 smoothed average helps me not Trading corrective swings also.. just to add.

Sometimes i trade corrective but i am more interested impulsive or long waves.
  • #369
  • Feb 16, 2020 4:03am Feb 16, 2020 4:03am
It is true that there are far fewer successful traders on the market than those who have lost their capital. On the other hand, we see the same situation in all other areas. Not everyone manages to achieve high results - and this is absolutely normal. If everyone were successful without making any efforts, our world would become some kind of utopia. The results are usually achieved by the smart and not the lazy - that's a fact. If you are lucky and not ready to fail, if you react painfully to every unforeseen situation - then nothing to start with. Sit in a standard job and don't think about anything, and you'll be happy. Probably, trading as well as business is not for everyone.
  • #370
  • Feb 17, 2020 2:56am Feb 17, 2020 2:56am
There are 0 successful 'traders' who spend a lot of time on FF. There may be one or two who know how to make profits, but knowing how and actually doing it are two different things. One or two have surely passed through but once they realize what a cesspool this place is they just move on and don't ever come back aka cut their losses quickly.

Ask yourself if you would invest money with anybody here?
Ask yourself if you became successful at this business if you would spend a lot of time here? No you'd be out spending your money enjoying life or working on ways to improve your business.

In a business based on making money being successful means you make a lot of money.

Successful isn't making some great return on a small account. A medium account for private trader is probably 1M. Successful means making a lot of money based on the amount of risk you are willing to take.
No such traders exist here.
  • #371
  • Feb 17, 2020 5:37pm Feb 17, 2020 5:37pm
Quoting Anusragger
{quote} The 5% you mention dont waste their time here. So... zero.
Some visit every once in a while for kicks and giggles over the course of many years. Others stay away as to avoid being trolled. Others just don't give a @%#@%! about reaching back and helping the New Trader.

Depends on where one comes from. If they've built something unique and did it form scratch, then they've probably spent years doing it and don't mind reaching back during a break from their own trading. If they are using someone else's work, then they are probably too busy learning about its potential to worry about posting on forums.

Either way, what goes around comes around tends to come around, eventually.
  • #372
  • Apr 2, 2020 1:58pm Apr 2, 2020 1:58pm
Well, of course, there are successful traders. Only why did you decide that success is determined by regular profits? Actually, I would consider successful a trader who knows how to make money in the market, but when he fails, he is not disappointed in himself. He makes an analysis of his mistakes and will continue to work to reduce the probability that this will happen again to a minimum. Let's look at the stories of the most famous and successful people in the world, almost each of them being on the verge of bankruptcy at least once or actually losing everything. But they did not give up and started all over again, and for that you need to have the will power and the understanding that everything can be fixed. And they are people too, they are also worried, they are also in search of money. And that's what distinguishes them from those who just get upset and give up everything.
  • #373
  • Apr 4, 2020 10:56am Apr 4, 2020 10:56am
Unfortunately, successful people are actually an order of magnitude fewer than those who cannot achieve high results. But it seems to me that this concerns not only trading, but many other areas as well. Even in sports there are those who become Olympic champions and those who stay at the bottom and can't do anything special. And what is so terrible about it? You don't have to be the most profitable or the luckiest. It's enough for you to be a little better today than yesterday. I know it sounds a little philosophical, and someone might think it's empty words. But personally, it helps me to cope with the failure and continue to work with new strength. Practice shows that someone who does nothing is wrong. And everyone else is necessarily not in the most advantageous situation from time to time, so...
  • #374
  • Apr 6, 2020 1:00pm Apr 6, 2020 1:00pm
Profitable traders are very rare in fact for several reasons. First, many traders are banal and do not know how to analyze the market and distinguish between real entry points and false signals. Secondly, I can say that many traders are guided by passion when trading and want to get as much profit as possible with minimum investment and real work. And this, too, never leads to a happy ending. On the other hand, there are good luck and bad luck in any business area, but why the statistics on such moments are for some reason exclusively in trading. This is not the most competent option. I think that in any sphere you can find examples of grand failures, which led to the loss of not only finances, but also any interest.
  • #375
  • Edited 7:23pm Apr 6, 2020 7:10pm | Edited 7:23pm
Quoting Mossma
Profitable traders are very rare in fact for several reasons. First, many traders are banal and do not know how to analyze the market and distinguish between real entry points and false signals. Secondly, I can say that many traders are guided by passion when trading and want to get as much profit as possible with minimum investment and real work. And this, too, never leads to a happy ending. On the other hand, there are good luck and bad luck in any business area, but why the statistics on such moments are for some reason exclusively in trading....
So I guess you have it all figured out.

Maybe the Forex market is rigged in favor of the brokers. Before you begin to doubt that possibility, think about US citizens who are bound by unfair trading regulations such as no hedging and FIFO rules. These rules make it very easy for brokers to take advantage of average retail traders and very difficult for average retail traders to make a living from the Forex market.

From what I understand, unfair trading rules concerning leverage have also been established in other countries for the Forex market.

And then there are chaotic times like these when nothing seems to work (consistently) because the market is filled with uncertainty, and wild swings due to high volatility.

It is my belief unfair regulations will eventually lead to the death of the Forex market.
Learn from your mistakes and march on.
  • #376
  • Apr 7, 2020 4:40am Apr 7, 2020 4:40am
Quoting here2there
{quote} So I guess you have it all figured out. Maybe the Forex market is rigged in favor of the brokers. Before you begin to doubt that possibility, think about US citizens who are bound by unfair trading regulations such as no hedging and FIFO rules. These rules make it very easy for brokers to take advantage of average retail traders and very difficult for average retail traders to make a living from the Forex market. From what I understand, unfair...
i wounder if opening 2 accounts would fix that problem mate
people leave, but this thread will go on for ever
  • #377
  • Apr 7, 2020 5:45am Apr 7, 2020 5:45am
Quoting Aussi
{quote} i wounder if opening 2 accounts would fix that problem mate
I've done that. It helps some, but you are still limited because of FIFO rules.
Learn from your mistakes and march on.
  • #378
  • Last Post: Apr 7, 2020 5:51am Apr 7, 2020 5:51am
Quoting here2there
{quote} I've done that. It helps some, but you are still limited because of FIFO rules.
yes it seems they do not want people to trade under the disguise of they are helping people need a lot of Americans to write lots of letters to the right people , kindest regards
people leave, but this thread will go on for ever
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