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Transition to full time trading (hopefully)

  • #61
  • May 12, 2020 12:55pm May 12, 2020 12:55pm
Quoting autemfx
{quote} For higher timeframes, you give an example of trading by flipping a coin, and then for lower timeframes, you give an example of trading profitably with an edge. Is that a fair comparison? My point is that you can have a edge on either timeframes, but with a 1.5 stoploss, spreads would largely impact your trading in a negative manner, so it would be more difficult if not impossible to create an edge. {quote} After your clarification, it seems like we are not entirely on different pages. I agree that to find an edge...
If you flip a coin with 1.5 SL I will bet my house your account will not be positive after 100 trades.
If you flip a coin with a 50 pip stop loss, I wouldn't even take the bet as the account have a really high chance of being profitable.
is that better?
I agree we both share different views no need to bash one another.
  • #62
  • May 12, 2020 12:56pm May 12, 2020 12:56pm
Quoting FXsniper111
{quote} Mayby Tickmill are easier to talk to abaut reductions with ICM you can forget getting it lower than 5 dollar trew IB meaning the IB gets nothing.....the friend i talk abaut has traded hundreds of lots a month with them for years and its not possible...Ok i am out green pips bud
It doesn't matter will just increase the SL by.5 pip to make up the differences.
  • #63
  • Edited 2:32pm May 13, 2020 1:55am | Edited 2:32pm
hi AmmaBoss I know you got tights stops but is there a reason why you cut your winners that short although some of them are in the direction of the trend ? Do you follow fixed rules for entries and exits or you re more of a discretionary trader.. you have an interesting way of trading
  • #64
  • May 13, 2020 3:17am May 13, 2020 3:17am
Quoting metta87
hi AmmaBoss I know you got tights stops but is there a reason why you cut your winners that short although some of them are in the direction of the trend ? Do you follow fixed rules for entries and exits or you re more of a discretionary trader.. you have a very interesting way of trading
It's a mix between the 2 , I do have fix rules but often my intuition guides me, sometimes things occur that you can't see on the chart for example price may stop moving completely for a few seconds.
I was actually looking over my trades and realize that I was cutting them too short, will attempt to fix it but it may or may not be effective need to test.
  • #65
  • May 13, 2020 5:12am May 13, 2020 5:12am
May get my live account set up today.
I decided to make some changes no major but I may be staying away from the forex market for a bit.
was looking at the indies the spread seem to be a lot more stable and overall the volatility is higher.
I don't normally like indies as I lost quite a bit of money trading them but I believe it will work this time.
only downside is limited leverage.
  • #66
  • May 14, 2020 9:10am May 14, 2020 9:10am
About 2 years ago I saw this TE from a fellow forex trader
https://www.forexfactory.com/autrader#acct.09
I was obsessed with this method not due to the high percentage but the rather short holding time per trade.
Many members of the forum said it was a fake and It may have well been one but perhaps not both the high percentage profit and sub 1 min holding time seem is indeed possible.
-Since I have started this experiment, I have paid a total of $500 dollars in commission ( 250% time the account ) and taken near 300 trades
- Made a few mistakes due to poor reaction time
- and Held 99%+ of my trades for under 1 min.
Despite all this, the account has remained profitable hence I have proven without a doubt that the 1 min time frame isn't noise and that this edge isn't an illusion.
Now the questions remain will this work on live?
A question that has caused many restless nights over the last week
  • #67
  • May 14, 2020 10:28am May 14, 2020 10:28am
Quoting AmmaBoss
About 2 years ago I saw this TE from a fellow forex trader https://www.forexfactory.com/autrader#acct.09 I was obsessed with this method not due to the high percentage but the rather short holding time per trade. Many members of the forum said it was a fake and It may have well been one but perhaps not both the high percentage profit and sub 1 min holding time seem is indeed possible. -Since I have started this experiment, I have paid a total of $500 dollars in commission ( 250% time the account ) and taken near 300 trades - Made a few...
a scam broker.
often the case with scam brokers that they show fantastic accounts, to get interest, and suck in ppl.
unless it is a large, established broker, take results with a pinch of skepticism. or two pinches!

https://www.forexfactory.com/showthread.php?t=525098
https://www.forexfactory.com/showthread.php?t=900569
https://www.forexpeacearmy.com/commu...problem.59383/
https://www.forexpeacearmy.com/commu...roubles.58087/
https://www.forexpeacearmy.com/commu...-issues.56998/
https://www.forexpeacearmy.com/commu...-ironfx.54289/

the irony, that the guy in question disappeared from FF.com about the time when those forexpeacearmy scam alerts date, early 2018...

and a final thought, from a fellow scalper:

sub 1 min holding time is entirely possible,
but 2 things to be aware:
- FF.com cant show sub 1 min holding time on the TE...i have seen on myfxbook similar ones with 1-4 seconds holding time. totally unrealistic.
- even with the 1 min average holding time, unless you are losing heavily, your broker will either start to play some games on you, or kick you out the door.
they wont be able to send your order out that quick, and they wont be willing to eat the losses long.

i understand where you coming from.
young with a plan and the conviction that you can do a lot better everything that anyone else!
my only suggestion that you carefully choose your idols, if you want to avoid hard landings!

some of these stuff just looks too good to be true, and at a scam broker, and with an unrealistic holding time = just not true!
i will give you an example, a top rated myfxbook copy system:
https://www.signalstart.com/analysis...scalping/18002
57000% profit....
then you gid a little into the numbers:
total profit 1266$
current equity: 23.58$ !!! (WTF!)
signal price: 35$/month
so are you going to tell me, that someone producing 57000% profit, not trust his own system with 1 month worth of subscription fee??? ( supposedly running 4 years too!)
but you can bet that every other day a noob will stumble upon this will want to sign up, cos 57000%, already counting that starting with 100$ and the first months sub fee, he will have that lambo in no time on the driveway!

think about it!
happy trading!
there is always, always another trade!!
  • #68
  • May 14, 2020 10:51am May 14, 2020 10:51am
Quoting AmmaBoss
May get my live account set up today. I decided to make some changes no major but I may be staying away from the forex market for a bit. was looking at the indies the spread seem to be a lot more stable and overall the volatility is higher. I don't normally like indies as I lost quite a bit of money trading them but I believe it will work this time. only downside is limited leverage.
I like trading DOW and did on my demo today,but i have opposite problem my leverage is to high minimum 1 lot so i trade with a 1300 points stoploss ore 13 Pips/dollars and its so fast and really fun even results can wiggle with 20-30 % on a smaller account in as in under 30 minutes if you look at my last 20 trades two are over 1 minute the rest is from 7 seconds to 1 minute....So this is high frecvent scalping often with multipple possisions...On a live account i wouldnt trade like this just waited for better setups,but still number of trades in a day could easily pass 50 trades and today i had 90.....Many will say its pure gambling,but if you can keep your winners just a bit larger than your loosers you will provale with positive results and i am not experienced trader trading dow and learned a lesson today to stay out at 30 min to 1 hour of U.S open and only trade it when markets in U.S are open......And one more ting i only add possisions when the trade goes my way with DOW....Many times stoploss is hit in seconds...So if you can trade it with lower leverage with your broker i think you should give DOW a try...Good luck going live...
Attached Image (click to enlarge)
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Insanityoing same ting over expecting different results..Einstein
  • #69
  • Edited 11:28am May 14, 2020 11:17am | Edited 11:28am
Quoting profitfarmer
{quote} a scam broker. often the case with scam brokers that they show fantastic accounts, to get interest, and suck in ppl. unless it is a large, established broker, take results with a pinch of skepticism. or two pinches! https://www.forexfactory.com/showthread.php?t=525098 https://www.forexfactory.com/showthread.php?t=900569 https://www.forexpeacearmy.com/commu...problem.59383/ https://www.forexpeacearmy.com/commu...roubles.58087/ https://www.forexpeacearmy.com/commu...-issues.56998/...
I agree with everything you said 100%.
was just Saying with the current trading system I am using it seems results like this might be possible for a short while before liquidity issues etc kick in.
I think I provided enough evidence to support as long as trading on the demo is the same as the live then it may have been possible.
However, I do understand I may have to increase my stop on the higher timeframe due to a slippage example.
I take money management very seriously I never risk more than 2% per trade and never moved my stop just takes a lot of trades and higher commission so the TE isn't an accurate representation of what I am doing/ intents to do.
  • #70
  • May 14, 2020 11:27am May 14, 2020 11:27am
Quoting FXsniper111
{quote} I like trading DOW and did on my demo today,but i have opposite problem my leverage is to high minimum 1 lot so i trade with a 1300 points stoploss ore 13 Pips/dollars and its so fast and really fun even results can wiggle with 20-30 % on a smaller account in as in under 30 minutes if you look at my last 20 trades two are over 1 minute the rest is from 7 seconds to 1 minute....So this is high frecvent scalping often with multipple possisions...On a live account i wouldnt trade like this just waited for better setups,but still number of trades...
I looked at dow but overall it didn't meet my requirements.
I like DE30 a lot tho, my main issue rn is if the broker will execute my trades on time, I did only used limit orders on the demo so they should.
Slippage isn't an issue as sometimes you gain, sometimes you lose.
I think adding to the position can be a hindrance depending on the method use or it can be an asset.
thanks for the suggestion
  • #71
  • May 15, 2020 8:03am May 15, 2020 8:03am
Today I received a message about unrealistic gains and that I was gambling.
So hear my take on what's realistic.
-Betting 10% on total equity on 1 trade is gambling If I put 1000 into an account with no intention of putting more than that, then bet 100 on a trade is gambling.
-If I put 100 USD in my trading account and Keep 900 in the bank and bet 10% or even 20% on one trade that is not gambling, what I am doing here is taking advantage of leverage.
Now the real issues.
I bet most of you would agree that betting 1-2% of your capital per trade is sound money management, I agree.
so what the issues with the way I trade?
my stop loss is equal to 2% of my account, the only reason I am averaging 10% a day on this demo is because of the massive amount of trades I take.
Most people take 30-60 trades a month if you make 3-5% for the month that's decent gains isn't it,
So if I take the same number of trades every day shouldn't I expect to make 3%-5% also?
Anyway here's the theory I been working with for about year.
Volatility is what you need to make money in forex.
Volatility IMO is not measured by the amount of pip a pair moves per day but the amount of pip it moves in relation to the spread.
Look for the lowest spread multiple it by 150-200, if the daily range is below that figure move on to the next pair.( this figure will change depending on your broker).
Now, this is the best pair to make money with a small account however as the accounts grow slippage will increase and you will likely begin to suffer from bad quotes to solve this you will have to move up your timeframe.
Therefore the market has a diminishing return effect, it's significantly easier to grow a small account ( small may vary depending on the broker) but as you earn more and more the longer it will take as you to grow as you can't bet 1% per pip with a 10pip stop loss as losing 10 trades is entirely possible regardless of your edge but you sure can bet that 1% pip with a 2pip one.
  • #72
  • May 15, 2020 9:23am May 15, 2020 9:23am
Quoting AmmaBoss
Today I received a message about unrealistic gains and that I was gambling. So hear my take on what's realistic. -Betting 10% on total equity on 1 trade is gambling If I put 1000 into an account with no intention of putting more than that, then bet 100 on a trade is gambling. -If I put 100 USD in my trading account and Keep 900 in the bank and bet 10% or even 20% on one trade that is not gambling, what I am doing here is taking advantage of leverage. Now the real issues. I bet most of you would agree that betting 1-2% of your capital per trade is...
there is no issue with how you trade, whatsoever.
your money your calls.
can tell that to anyone!
you arent trading to please others, but to make profit for yourself!
and that leads the only relevant point...
"the test of the pudding is in the eating!"
if whatever style you choose works out for you on the longer run, consistent enough, it is a good style.
if proven that on live acct. ( unless you find some place to convert demo money to real...wait, someone have that:
Inserted Video
)

happy trading!
there is always, always another trade!!
  • #73
  • May 18, 2020 6:27am May 18, 2020 6:27am
My live account is set up but I will not live trading today.
As I Just lost my job, therefore, this is a critical moment in life and my action taken within this month or two will have a significant impact on my entire life as such I need to be 100% focus as failure can't be lifechanging.
failure to make this transition will result in me having to take a break from college for a while and maybe pursue a government job the only issue is our economy is currently **** so i may be jobless for a while.
  • #74
  • May 18, 2020 10:19am May 18, 2020 10:19am
A small Live TE was added, the account is linked to my old broker as I remember I had some money left in the account still.
I made a few quick trades this morning and got up to $100 USD which is a decent amount for me to trade until I am 100% ready to start using my bigger account.
I wouldn't consider those 10 trades apart of my transition.
  • #75
  • May 18, 2020 3:16pm May 18, 2020 3:16pm
Quoting AmmaBoss
A small Live TE was added, the account is linked to my old broker as I remember I had some money left in the account still. I made a few quick trades this morning and got up to $100 USD which is a decent amount for me to trade until I am 100% ready to start using my bigger account. I wouldn't consider those 10 trades apart of my transition.
Nice start hope you can keep it up....I did "only" 11%...lol
Insanityoing same ting over expecting different results..Einstein
  • #76
  • May 18, 2020 3:53pm May 18, 2020 3:53pm
Quoting FXsniper111
{quote} Nice start hope you can keep it up....I did "only" 11%...lol
Yea small balance tho but I would like to believe that on the demo I have already proven the system i used is viable as long as the live account fill orders the same way.
Slippage isn't a concern can be both positive and negative
  • #77
  • Jun 2, 2020 9:02am Jun 2, 2020 9:02am
Started Trading live today.
Unfortunately, I wasn't able to deposit with tickmill as they did not accept my credit card and bank transfer was an issue with my local bank.
This is a devastating blow as they are simply cheaper ( for my pair ) and faster than the IC market which is essential for scalping.
I have been suffering from slippage with the IC market but will solve that by increasing the size of my stop loss.
Overall however very positive results.
TE will be posted at the end of the week.
  • #78
  • Edited 4:42am Jun 3, 2020 3:15am | Edited 4:42am
IC market is terrible.
How the hell do you get 5 pips of slippage with a 5 pip stop loss, for years I have been trading with activtrades with significantly lower Take profit and stop loss with minimum slippage so the problem has to be on their side.
Edit: the wider my stop the more slippage I get wtf is wrong to this broker.
  • #79
  • Jun 9, 2020 11:07am Jun 9, 2020 11:07am
Just a little update.
While I did bash IC market , they are an excellent broker for Forex. The mistake I made was trading Indices with them.
I was receiving massive slippage on every single order while trading DE30 as much as 6 points of slippage. I began noticing something was off when I would literally see the order run over my SL / TP and delay then close. It should be impossible for me to actually see slippage occur due to their advertised .04 execution time.
So I decided to trade the Forex market and the broker worked flawless , minimal slippage occur even in fast moving markets.
The general Idea seem to be that IC market have a significant slower execution speed on indices compare to the Forex market.
As such I will only be using IC market to trade forex but will have to revert to my old broker for indices.
  • #80
  • Jun 11, 2020 9:22am Jun 11, 2020 9:22am
I need to be focus on trading and not forum opinions so the TE will be made public during hours where trading is not taking place.
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