What I learned after losing $300,000 trading forex | Page 12 | Forex Factory

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What I learned after losing $300,000 trading forex

  • #221
  • Aug 3, 2020 1:43pm Aug 3, 2020 1:43pm
What I learn from your post is that you need to learn what to learn. LOL.

KP

Quoting apies
What I learned from here? I think nothing.
Do your homework, follow the footprints of smart money
  • #222
  • Aug 3, 2020 2:12pm Aug 3, 2020 2:12pm
Quoting dkrock
{quote} LOL. I suppose I posted all his screenshots with all those lines on them too? LOL. Thanks for knowing what I read and did not read and explaining how I missed the point of trading lines. You are awesome! Do you use that extrasensory perception in your trading? Hope not. So, hmm, I can see the lines, so not sure why you cannot, but hey, thanks for your attack. I don't know you, so what a way to introduce yourself. Again, awesome! I deleted my post prior to your response to me because I decided I did not want to be part of this nonsense and...
In this forum for 7 years and you are still visiting it daily?

Sort of tells us everything about you. A closed mind is a death trap but I wish you all the best.
  • #223
  • Aug 3, 2020 2:25pm Aug 3, 2020 2:25pm
I can see by a lot of the comments that some of you guys are not ready to become profitable traders yet.

I understand I use to be like you.

If you came here to be spoon feed some "Magic Pill Trading System" you might as well leave now.


Lesson number 7. I had to empty my mind of all the crap out there I learned for all those losing years and dig deep for the facts.


Whether you see it or not yet I have given you all pure GOLD. The question is will you see it and do the hard work by accepting the mathematical facts and develop a money management system around it? I am not joking when I say. "You can literally flip a coin with what I have given you so far and make a decent living using just the right money management combined with these mathematical statistics/probabilities".

I am not here to convince you of anything but for those of you that wish to ask me questions (with an open mind), I am more than willing to help you.
  • #224
  • Aug 3, 2020 2:33pm Aug 3, 2020 2:33pm
Quoting dkrock
{quote} LOL. I have many friends and my own thread that is far from a closed mind. The vast majority of trading is done on Level II platforms where "pending orders" are activated at various price levels. What you see is a graphical representation of the movement of pending orders being activated. There is no historical data of those orders being aligned against each other like you do with your screenshots. There is NO memory of previous levels, LOL. So, if you are not measuring the movement associated with the pending orders currently being activated,...
Well, I did tell you that I had a mentor, and if you must know my mentor works at one of the largest investment banks in the world. I had a chance to see the real order book. Not the retail order book you are looking at. The real order book. The book the banks look at when they want to cross a 500 million + dollar blocks.

I also studied all that stuff you are talking about. I used Market Profile and Book Map and all those other silly tools that you are talking about. For years!!!! How do you think I lost so much money?

Ask me any question you like about level 2 or depth of market or Delta's or the rest of the retail garbage I paid thousands to learn that made me NOTHING.
  • #225
  • Aug 3, 2020 2:57pm Aug 3, 2020 2:57pm
Quoting CeeSo
{quote} In this forum for 7 years and you are still visiting it daily? Sort of tells us everything about you. A closed mind is a death trap but I wish you all the best.
he is ff employee or hired part timer. the company that runs this website has hired professionals to help the community, specificly in the major treads. sometimes these "members" just bounce around, to kill their job time...
Maadik Hugiis. IQ 69.
  • #226
  • Aug 3, 2020 3:34pm Aug 3, 2020 3:34pm
Quoting MoneyZilla
{quote} he is ff employee or hired part timer. the company that runs this website has hired professionals to help the community, specificly in the major treads. sometimes these "members" just bounce around, to kill their job time...

That makes sense.
  • #227
  • Aug 3, 2020 3:39pm Aug 3, 2020 3:39pm
Quoting Lest
Is this proof that I'm profitable ?{image}
I'll answer for myself. This is not proof of profitability. Why ? Because it is the result in one day. Did CeeSo understand that too?
  • #228
  • Aug 3, 2020 3:44pm Aug 3, 2020 3:44pm
Quoting Lest
{quote} I'll answer for myself. This is not proof of profitability. Why ? Because it is the result in one day. Did CeeSo understand that too?
Thats a good strategy, argue with yourself, that way you will always win the argument.
  • #229
  • Aug 3, 2020 3:45pm Aug 3, 2020 3:45pm
Quoting dkrock
One day you are all going to grow tired of pretending to be traders and want to make actual money. You will wonder what was dkrock talking about. But guess what? Your rudeness has burned that bridge. Best of Luck in your J-O-B's. Sorry. It is what it is. I realize in today's environment you think that you can just say or do anything you want from the safety of your computer screen, lol, but life has consequences. Karma is a real thing. You reap what you sow. At the moment, the market has decided to swing nicely, so you are riding fat and high on...

Look I have no problem with constructive criticism and in fact, I encourage it.

I want people to ask questions and not believe anything anyone says till they prove it to themselves!!!.

DO NOT BELIEVE ME or anyone else in any forum. That is how I lost a lot of money and I want you to discover things and try things on your own.

Here is what I am asking you to try.

1. Put the levels on your charts and WATCH for a few weeks how the market reacts to the levels across 5 pairs (some USD some EUR and one JPY)


Do NOT try and trade them because they are not support and resistance However they will sometimes act as support and resistance.


Just watch for a few weeks.


2. Accept the mathematical FACT of all the posts I have made above regarding the statistics.


3. Ask yourself if I was long or short right now (could be any point in time). Where would a safe stop and target be knowing the STATISTICS of the math?.


That is all I am asking people to do.

If you do that for a few weeks see what would have happened and then adjust the results to find the right formula that works for the statistics.



The problem is most retail traders are just engaging in RANDOMNESS with their stops and their targets without accepting the reality of the math of what is probable.


I do not think this is too much to ask for but of course, I could be full of sh#t and just another idiot in the forum spewing nonsense or this thread might be the best thing you ever discovered. I do not know and I will not promise anything. It is entirely up to you.


I am just sharing the things I had to learn before I personally made any progress as a trader.
  • #230
  • Aug 3, 2020 3:45pm Aug 3, 2020 3:45pm
CeeSo,
Great first page. A lot of solid advice in a small space. I'm interested in your Kelly sheet - are you able/willing to share it? I use a version of a Kelly bet that I learned from Kirill Emerenko, but I have also seen several ways of handling it, and the optimal way isn't obvious (to me) yet.
  • #231
  • Aug 3, 2020 3:50pm Aug 3, 2020 3:50pm
Quoting mixedbags
{quote} Maybe a simple challenge will do the trick - the FTMO Challenge and FTMO Verification, best if can be a FTMO trader. Talk less and take up this challenge.

Darwinex yes, not ftmo.

FTMO is just rubbish to attract newbies, great business model by the way.

On FTMO you have to close all your trades before news while the news move the market, wondering why ?
LDFX Trading Ltd
  • #232
  • Aug 3, 2020 3:54pm Aug 3, 2020 3:54pm
Quoting STrading
{quote} Thats a good strategy, argue with yourself, that way you will always win the argument.
It was about CeeSo's excellent proof of profitability.
Attached Image
  • #233
  • Aug 3, 2020 3:55pm Aug 3, 2020 3:55pm
Quoting Hammertop
{quote} You're right. This is the first thread that I must have seen where the OP has posted 4 times over 162 posts and 9 pages. Ok, forums are made for discussion but here the thread has been totally commandeered. If only people could wait for CeeSo's ideas to be completely disclosed, without going down to personal arguments, that would be nice.

You are right in the absolute, but then your post is noise too

All what we did was not worse than you, we shared our opinions on a topic that interests us, thanks to the thread starter.
LDFX Trading Ltd
  • #234
  • Aug 3, 2020 3:56pm Aug 3, 2020 3:56pm
Quoting CeeSo
{quote} Look I have no problem with constructive criticism and in fact, I encourage it. I want people to ask questions and not believe anything anyone says till they prove it to themselves!!!. DO NOT BELIEVE ME or anyone else in any forum. That is how I lost a lot of money and I want you to discover things and try things on your own. Here is what I am asking you to try. 1. Put the levels on your charts and WATCH for a few weeks how the market reacts to the levels across 5 pairs (some USD some EUR and one JPY) Do NOT try and trade them because they...
I guess you are talking about intraday behavior because these line will change with any new daily open price.
I will observe them and let you know if I can find anything interesting.
Cheers
  • #235
  • Aug 3, 2020 4:07pm Aug 3, 2020 4:07pm
Quoting Lest
{quote} It was about CeeSo's excellent proof of profitability.{image}
i know man, was just joking. But you are right, the traders biggest enemy, the 1 year account statement.
  • #236
  • Aug 3, 2020 4:11pm Aug 3, 2020 4:11pm
Quoting STrading
{quote} i know man, was just joking. But you are right, the traders biggest enemy, the 1 year account statement.
OK
  • #237
  • Aug 3, 2020 4:12pm Aug 3, 2020 4:12pm
Quoting CeeSo
{quote} Exactly, This is the biggest problem I find with new traders (myself included when I was losing money). The reality is that all the Trading Gurus want you to believe that you can make hundreds of pips from a beach in Fiji. This is what I like to call FOOLED BY RANDOMNESS. Many new traders get fooled by short term small sample size results. Just because something works for a year or 2 years even does not mean it will continue to work. FOOLED BY RANDOMNESS!. The fact is if the markets only move plus or minus .5% daily then we have to accept...

You are right but if I may,

stop must NOT be on volatility. Position sizing is the absolute right thing to do, being on volatility or levels, or god knows what else.

Take for example sp500 that has a 48usd volatility on the daily ATR14, if your stop is 4 usd because of a good level that you eyeballed for a while and then on a low timeframe momentum told you to enter for a 48usd profit, why would you want to have a volatility stop ? Position sizing is the absolute must, not volatility, volatility stops just depends on your entry strategy, that are most likely suited for mechanicals entries.


Also you said that 0.25, 0.5, 0.75 are not fibs, well it reminds me of a strategy I had years ago where I would place limit orders regarding the rsi on H1, of fib levels on the previous 5 day ATR given the open price of 23.6% (0.25) with a stop at 50% (0.5), also 0.75 is strangely close to 76.4% and 78.6%...

Don’t get me wrong, you have some very valid points and I appreciate that your are centered on money management which shows your experience, but I have to say that your levels are nothing better than fib levels applied on a daily open price, which might not be wrong after all though, if it works for you great.

I just had to call a cat a cat.
LDFX Trading Ltd
  • #238
  • Aug 3, 2020 4:18pm Aug 3, 2020 4:18pm
Nothing new under the sun

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  • #239
  • Aug 3, 2020 4:23pm Aug 3, 2020 4:23pm
Quoting digiff
{quote} I never understood the need for people asking traders for 'proof'/trading records/explorers/statements (if they dont want to post it for any reason) on a public forum, for free info/strategies/advice/hints etc. Nobody has to prove anything to anybody. It's always a take it or leave it - as is. Everyone is free to say or claim whatever they want here and on any forum. Either we choose to believe or ignore it and move on. Of course there are bullshitters, scammers, but also genuine people who want to help. FF has all of them. It is upto us...

Your post is very eloquent yet you didn’t see the answer that is within your question...
LDFX Trading Ltd
  • #240
  • Aug 3, 2020 4:25pm Aug 3, 2020 4:25pm
Quoting LDFX
{quote} Darwinex yes, not ftmo. FTMO is just rubbish to attract newbies, great business model by the way. On FTMO you have to close all your trades before news while the news move the market, wondering why ?
If we just take it as a challenge and get verified by FTMO but don't have to be their funded trader.
Maybe those who are verified by FTMO can be viewed as a traders with substance.

maybe, dkrock can rock the boat first get verified then talk.
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