has anyone EVER seen a successful trader/trading system? | Page 76 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Successful Trading & Determining the Probability of a Trading System 10 replies

Has anyone ever seen this error message? 2 replies

SwissFXBroker (SFXB)--has anyone ever used them? 39 replies

Anyone ever seen a 'move to breakeven' script? 3 replies

New trading system hard to completely follow... anyone ever have this problem? 0 replies

Attachments: has anyone EVER seen a successful trader/trading system?
Exit Attachments

has anyone EVER seen a successful trader/trading system?

  • #1,501
  • Oct 25, 2020 1:56pm Oct 25, 2020 1:56pm
Quoting joyny
{quote} you imagine "real successful trader" and speak as you know any of them in person and know all motives that drive them (all of them... really?). you never know real persons behind nicks here in an anonymous forum.
all.you need on a chart is time and price along with open high.low.and close

thats it
  • #1,502
  • Oct 25, 2020 1:59pm Oct 25, 2020 1:59pm
Quoting joyny
{quote} you imagine "real successful trader" and speak as you know any of them in person and know all motives that drive them (all of them... really?). you never know real persons behind nicks here in an anonymous forum.
Of course there are exceptions to this, according to your response you are one or wanna be one, if so, good for you.
  • #1,503
  • Edited 3:53pm Oct 25, 2020 3:13pm | Edited 3:53pm
Quoting Wavegarrick
{quote} Here's the thing. I have been around robots for many years. You cannot expect a robot that takes counter trend trades in ranging periods to perform well in trendy periods. Vice versa, you cannot expect a trendy robot to perform well in rangy periods. The hard part is that you will never know when a range becomes a range until it is a range many candles later and vice versa when it is a trend. Can you code this into an Ea?, absolutely No. An Ea will never see what the eyes can see and even the eyes see it too late. And even if you use the...

Good tips, in my experience.

Regarding the use of break-evens, some of my strategies have had much better results with a BE after a move of around 80% of TP. Every strategy of course has its own best level of course. I traded for a good 6 years before even considering break-evens! Not an option to be underestimated. My tick-driven strategies don't need this of course as the Tp and SL 100% depend on real-time calculations and change considerably according to what happens after entry.

P.S regarding what can and cannot do a robot, I have to admit that my belief it could not do some of what man can do in trading has been destroyed when I myself learned to code. As long as man has learned it and/or developed with other than pure intuition of course that he himself can't put his finger on. It has to be reproducible by another at the very least of course. Of course I would not be surprised if anyone proved me wrong with a particular type of strategy...
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #1,504
  • Oct 26, 2020 4:55am Oct 26, 2020 4:55am
Quoting RickM
{quote} I would say NO, it is very hard to beat the system using technical data to make a wage. I would say YES, it is very easy to beat the system and make a wage if you trade the inbalance of the order book. I do it every week. You asked where the order book is within this decentralized forex market is - perhaps you are too blind to see it or haven't bothered to study historical data. THE ANSWER IS IN FRONT OF YOUR EYES If you use Algo's, you would need a whole entire portfolio of EA's to make a wage - but this is sixteen times harder than manual...
Oanda?
  • #1,505
  • Edited 9:53am Oct 26, 2020 9:43am | Edited 9:53am
Quoting ficibald
{quote} Oanda?
I consulted with high authority on this matter and was told that these retail "Order Books" contain nothing but useless and mostly false information. Supposedly the real market is not influenced by retail flow. I was told that orders smaller than 1M (10 retail lots) are internalized and hedged between market makers. So the small orders will never reach the interbank market.

I was also told the exact strategy used by professional traders to make money.
Essentially what the bank and fund traders do is front running large corporate clients who need currency for cross border trade deals.
The main dealers often exchange information about their clients using secret online chats. When the opportunity is good they combine forces to temporary skew the price and to position themselves with smaller positions before the large client.
Then they use the order of the large client to get out at better prices. Usually they try to make a few pips per trade. But when you trade with tens of millions a few pips often equal thousands of dollars in low risk profits.
  • #1,506
  • Oct 26, 2020 1:30pm Oct 26, 2020 1:30pm
Who would you define as a successful trader? Someone has made a net profit over the years or someone trades full time for a living?
  • #1,507
  • Oct 26, 2020 1:35pm Oct 26, 2020 1:35pm
Quoting JamesSmithFX
{quote} I consulted with high authority on this matter and was told that these retail "Order Books" contain nothing but useless and mostly false information. Supposedly the real market is not influenced by retail flow. I was told that orders smaller than 1M (10 retail lots) are internalized and hedged between market makers. So the small orders will never reach the interbank market. I was also told the exact strategy used by professional traders to make money. Essentially what the bank and fund traders do is front running large corporate clients...
bravo
  • #1,508
  • Oct 26, 2020 3:57pm Oct 26, 2020 3:57pm
Quoting JamesSmithFX
{quote} I consulted with high authority on this matter and was told that these retail "Order Books" contain nothing but useless and mostly false information. Supposedly the real market is not influenced by retail flow. I was told that orders smaller than 1M (10 retail lots) are internalized and hedged between market makers. So the small orders will never reach the interbank market. I was also told the exact strategy used by professional traders to make money. Essentially what the bank and fund traders do is front running large corporate clients...
You "consulted with high authority" and was answered and reveal to you all the mystery of what is going on and handed to you every detail like you are a CIA agent investigating the case. Your story is entertaining though..
Only an idiot knows with certainty to where the market is going.
  • #1,509
  • Oct 26, 2020 4:07pm Oct 26, 2020 4:07pm
Quoting JamesSmithFX
{quote} I consulted with high authority on this matter and was told that these retail "Order Books" contain nothing but useless and mostly false information. Supposedly the real market is not influenced by retail flow. I was told that orders smaller than 1M (10 retail lots) are internalized and hedged between market makers. So the small orders will never reach the interbank market. I was also told the exact strategy used by professional traders to make money. Essentially what the bank and fund traders do is front running large corporate clients...
Do Direct Market Access broker also trade client order internally?
Also this type of mindset dosen't help much in making trading work for you.
Work on your strategy and stick to a tested system.
  • #1,510
  • Edited 4:43pm Oct 26, 2020 4:14pm | Edited 4:43pm
Why does everyone here miss the bloody obvious.

Fight the major players when Liquidity is exhausted on one side of the order book.
How do we know there is an inbalance of the order flow?

When price expansion away from market frequency hits the thin Liquidity boundary, only one side of the book is increasing.
There is tools available for this and the big players can't fight you for a brief moment in time.

And 5 to 20 seconds is all we need to make great profits.
Trading thin liquidity at the boundary of the charts
  • #1,511
  • Oct 26, 2020 4:53pm Oct 26, 2020 4:53pm
Quoting Wavegarrick
{quote} Here's the thing. I have been around robots for many years. You cannot expect a robot that takes counter trend trades in ranging periods to perform well in trendy periods. Vice versa, you cannot expect a trendy robot to perform well in rangy periods. The hard part is that you will never know when a range becomes a range until it is a range many candles later and vice versa when it is a trend. Can you code this into an Ea?, absolutely No. An Ea will never see what the eyes can see and even the eyes see it too late. And even if you use the...
You forgot to mention this kind of EA: 1-Preforms well in trending markets but does no trading in ranging markets. 2-Preforms well in ranging markets but doesn't trade during trends.

"An Ea will never see what the eyes can see". Thank heaven for that.
  • #1,512
  • Oct 26, 2020 4:58pm Oct 26, 2020 4:58pm
Quoting MrBullBear
{quote} You "consulted with high authority" and was answered and reveal to you all the mystery of what is going on and handed to you every detail like you are a CIA agent investigating the case. Your story is entertaining though..
It's not my story. The information I was given is very solid with plenty of evidence!

Example: https://ec.europa.eu/commission/pres.../en/IP_19_2568
  • #1,513
  • Oct 26, 2020 5:14pm Oct 26, 2020 5:14pm
Follow RickM and you will be in the top 5% of traders making good money every day.
The problem with the other strategies out there is the mental ability needed to make consistent profits, incredibly difficult when the amounts increase.
overtrading - messing with orders - scared off losing - the list is endless. its better to master one piece rather than the whole thing.
  • #1,514
  • Oct 26, 2020 5:56pm Oct 26, 2020 5:56pm
Quoting JamesSmithFX
{quote} It's not my story. The information I was given is very solid with plenty of evidence! Example: https://ec.europa.eu/commission/pres.../en/IP_19_2568
Wow. JPMorgan and BOTM were really tightlipped.
I wonder how much money these firms actually made in total.
  • #1,515
  • Oct 26, 2020 6:01pm Oct 26, 2020 6:01pm
Quoting OutThere
{quote} Wow. JPMorgan and BOTM were really tightlipped. I wonder how much money these firms actually made in total.
According to my source, they made enough to pay the fines and to continue with the same strategy like nothing happened.
  • #1,516
  • Oct 26, 2020 6:48pm Oct 26, 2020 6:48pm
Quoting JamesSmithFX
{quote} According to my source, they made enough to pay the fines and to continue with the same strategy like nothing happened.
Yup. It probably made them more sophisticated. Now they know what to do to not get caught.
Human nature.
  • #1,517
  • Oct 26, 2020 7:31pm Oct 26, 2020 7:31pm
Quoting OutThere
{quote} Wow. JPMorgan and BOTM were really tightlipped. I wonder how much money these firms actually made in total.
That occurred years ago and is irrelevant on how the manipulation occurs today.
These days all manipulation is probably Algo driven and independent of human interaction between bankers.
But we need to embrace this massive liquidity that is dish up onto the markets - fear only the fat finger trade placed by some trade manager fool who only meant to order a burger at Ubereats.
Trading thin liquidity at the boundary of the charts
  • #1,518
  • Oct 26, 2020 7:37pm Oct 26, 2020 7:37pm
Quoting RickM
{quote} That occurred years ago and is irrelevant on how the manipulation occurs today. These days all manipulation is probably Algo driven and independent of human interaction between bankers. But we need to embrace this massive liquidity that is dish up onto the markets - fear only the fat finger trade placed by some trade manager fool who only meant to order a burger at Ubereats.
I donno. It is like saying manual trading has been completely abolished. Not sure about that even at bank levels. Even if it is, it is not against law to manual trade unless the corporation has internally banned the practice and gets audited regularly for it.
I think in and among all the algo going tru, by the shear volume of it, no one will be able to exactly spot a few 'corrective' trades that go down the pipe here n there.
I don't know anything....just a hunch. Boys will be boys.
  • #1,519
  • Oct 26, 2020 7:46pm Oct 26, 2020 7:46pm
OMG.....you guys can kill me for posting this irrelevant link but that video, so authentic in 'linguistics'. https://mashable.com/article/trump-6...-and-the-city/
  • #1,520
  • Oct 26, 2020 7:57pm Oct 26, 2020 7:57pm
Quoting RickM
{quote} That occurred years ago and is irrelevant on how the manipulation occurs today. These days all manipulation is probably Algo driven and independent of human interaction between bankers. But we need to embrace this massive liquidity that is dish up onto the markets - fear only the fat finger trade placed by some trade manager fool who only meant to order a burger at Ubereats.
For us it doesn't matter if it's manual or automated. But it's probably automated now. The question is how to detect it with our own robots? Now I want to build a robot to front run the bank robots.
The bank robots are coded by people. People make mistakes in their logic. All robots have certain triggers for activation and they also may have bugs in them.
Find the triggers, find the bugs. We have to Look for clues and footprints. Then we can potentially reverse engineer the logic of the bank robots.
0 traders viewing now