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PeterCaleb strategy & wisdom & success

  • #1
  • First Post: Jun 16, 2021 2:51pm Jun 16, 2021 2:51pm
This thread is dedicated to PeterCaleb. Famous trader. He earns on average 5% profits a day and does it CONSISTENTLY.

Quoting PeterCaleb
I do an average (!!!!) of 5-6 % per day that I trade. Now please keep in mind this is conservative and does not happen EVERY single day of the week. But I have found that this is doable at least 3-4 times per week on any given instrument.
Quoting PeterCaleb
I did say average. Naturally I cannot "make" a market do what I want all the time, so let's keep some realistic perspective here. The maths you are showing is silly. After you deduct any transaction costs, tax and any other monies you need to pay out or put aside, the %'s are less. Trading is not free. So please put your brain in your head. It's all about ....... say it with me ....... CONSISTENCY.
It is worth studying him and LEARN from him.

Rules of this thread:

1. Post here only using font size 3
2. Post here quotes from the best PetersCaleb posts in other threads
3. If you post here - your post MUST have at least 1 quote from PetersCaleb post

Let's reveal here PeterCaleb trading strategy/knowledge. Let's honor PeterCaleb success and wisdom here.

Learn from the best. Learn from PeterCaleb.
  • #2
  • Edited 3:11pm Jun 16, 2021 2:58pm | Edited 3:11pm
Quoting PeterCaleb
Trading is not free.
Ok, got it.
  • #3
  • Jun 16, 2021 3:10pm Jun 16, 2021 3:10pm
Quoting PeterCaleb
I always generate profits on a long position when the market is going down down down.
Here I learn when the market is going down 3 times (candles I guess?) - go the opposite direction and do BUY. Peter trade reversals. Clear.

Quoting PeterCaleb
How silly of me. Oh, but why doesn't that sound familiar? Oh yes ---- because it DOESN'T happen that way.
Now here another hint... don't know jet what but it's not that trivial entry after 3 candles down. Need to LEARN more.
  • #4
  • Edited 4:12pm Jun 16, 2021 3:25pm | Edited 4:12pm
Quoting PeterCaleb
Losers and winners in trading are NOT defined by who has the better strategy or entry or exit.
OK... What could be the opposite of this sentence?

Losers and winners in trading are defined by who has worse strategy or entry or exit. Did I get it right?

Quoting PeterCaleb
"A real trader knows what they're dealing with ... and also knows HOW to deal with what they're dealing with. PERIOD."
OK... If I trade GBPUSD... what I am dealing with? Read again... "real trader" .... "knows HOW" .... I need help to unserstand this... Here is some diamond hidden I feel that. It IS IMPORTANT to LEARN from that sentence. Need to try HARDER.

Just an idea... maybe answer is the word "PERIOD" ? Let's dig deeper... first LEARN what could be "period" from Wikipedia.Here I see most promising candidate "Wavelength, the spatial period of a periodic wave"

Yes that could be hint. Will dig deeper here.

Maybe when I trade GBPUSD I deal with "periodic waves" ?
  • #5
  • Jun 16, 2021 4:12pm Jun 16, 2021 4:12pm
Quoting PeterCaleb
Just look at a 60 minute chart with the usual daily separator on it. Surely you can do THAT properly, seeing as you cannot handle the real life mathematics and bookkeeping. Almost every day there is a setup.
Here it is - PeterCaleb 3 down-waves periods strategy (on H1 as PeterCaleb advice):

Attached Image (click to enlarge)
Click to Enlarge Name: peter_waves_3_down_reversal.png Size: 49 KB
  • #6
  • Jun 16, 2021 4:22pm Jun 16, 2021 4:22pm
Here another wawes 3x down setup example:

Attached Image (click to enlarge)
Click to Enlarge Name: peter_waves_3_down_reversal2.png Size: 50 KB


As Peter promised - there are almost allways some nice setup on H1 every day on every instrument. All you need to see waves and entries/exits is turn chart on MT terminal as line and no stupid candles. Use just lines to see waves!!!

Quoting PeterCaleb
Just look at a 60 minute chart with the usual daily separator on it. Surely you can do THAT properly, seeing as you cannot handle the real life mathematics and bookkeeping. Almost every day there is a setup.
  • #7
  • Edited 3:35am Jun 17, 2021 3:20am | Edited 3:35am
Quoting PeterCaleb
How much distance a person holds from the truth of the situation is always based on what stimulates rater than helps and leads to solving problems. So I will say again, you've lost your way. Either outsmart your enemy or fall prey to them. It matters little if the algo idea is real or not, it only matters what YOU do about it.
Word "distance" triggers thinking process inside me..

For currencies:
You see from 2 previous posts that 3rd wave could go quite further than the previous 2 waves and only then retrace. So here we can "outsmart enemy" (enemy in this case is wave strength) - so we put BUY LIMIT order let's say 30% below 2nd wave's high minus the lowest point in pips.

It is better to miss a deal rather than go in a deep drawdown.

But for trendy UP stocks:
It can be used some % distance and enter earlier on 3rd wave... because 3rd wave lowest point most probabbly will be higher than 2nd:

Attached Image (click to enlarge)
Click to Enlarge Name: msft_wave.png Size: 112 KB


The beauty of this strategy is that can be traded manual and spent small time - just put pending orders, set SL/TP and forget. The wave will do the rest.

Will prepare an cen't account to give a chance to this approach.

One more advantage of waves: we bet on retrace and have 2 positive scenarious versus 1 negative. Market can retrace and start new trend UP (so use trailing). Or Market can retrace and still stay in FLAT. Only 1 negative scenario when the wave too strong and our SL will be hit.

Stocks should be more lucrative for this strategy because stocks trendy UP in lonterm. Just need to catch the right wave.
  • #8
  • Edited 3:57pm Jun 21, 2021 3:35pm | Edited 3:57pm
Ok, today was Day 1 with a target of 5%. The best was 4.3% (almost reached the target) but then dd. The end of Day 1 resulted in 1.5% growth. 24 deals. All with positive risk/reward ratios, all with SL/TP. But SL/TP only protective. Mostly closed manually.

Quoting PeterCaleb
Trading is an activity best done on you own without any influences from other people. Everything you do needs to be done independent of everyone. You need to know that no other trader cares about your trading more than you. You will need to be neutral and objective and do all the research you can to create a blueprint on...
Trading manually. This is not ordinary for me - mostly I trade automated only. But ok this is some kind of experiment for PeterCaleb strategy - my trading journal here. Maybe will automate if see it's consistent.

As mentioned in previous posts - the idea is to catch the wave. I watch previous waves in timeframes M5 to D1. About 10-15 SL pips and ~20-60 TP pips. Then start trading with 0.01 lots. When I see a wave missed I close deals. When see wave starting to stall - close with profits (not wait TP hit). When I am confident about my waves observations then I start trading with 0.03 lots. I focus to get 5% daily target (now using 100 usd account).
  • #9
  • Edited Jun 23, 2021 10:26am Jun 22, 2021 4:43pm | Edited Jun 23, 2021 10:26am
Day 2: -20%

Quoting PeterCaleb
Meanwhile the rest of the world has moved on and so too will the people who have simply come, observed, learned and moved forward with their lives and their trading.
What did I learn today? Well... all that stuff about waves might be shit... will think on another approach..
  • #10
  • Jun 23, 2021 10:25am Jun 23, 2021 10:25am
Day 3: +18%

Today learned:

  1. Waves can be caught but experience needed.
  2. To get out of losing trade can be opened opposite trade. Then can be improved situation with leverage. Can survive to next wave when exit.
  3. Noticed in 1M strong move shortly before the opposite move - that's how gib players building their positions.

Quoting PeterCaleb
The market you trade, will have its very quiet times, it's quiet times, it's partly active and it's very active times. And depending on whether you want to trade the correction/retracement or breakthrough, will determine if you use a 5min chart for entry or a combination of Tick chart and 1 or 5min chart to gain good price position. The last part is market structure. It's a bad idea to set a hard-fast exit as it needs to be inline with what happens and not on selfish unrealistic expectations.
  • #11
  • Jun 24, 2021 1:33pm Jun 24, 2021 1:33pm
Day 4: -88%

For me seems manual trading is mission impossible.

Quoting PeterCaleb
For the average Joe, think of "Debt" here as you would if you were hedging a losing position - placing a buy order to stabilize a losing sell order that is 'running away'. It's a form of averaging rather than just using a preset Stop loss.
  • #12
  • Jun 25, 2021 9:13am Jun 25, 2021 9:13am
Quoting gepards
Day 4: -88% For me seems manual trading is mission impossible. {quote}
He is just a scam mate, don't waste your time and money for him. Let him lose on his own, you don't need to lose with him.
You have to have an IQ higher than 90 to interact with this user.
  • #13
  • Jun 25, 2021 3:01pm Jun 25, 2021 3:01pm
Day 5: 0%

Will keep opened deal for weekends. Pure gambling. But ok.

Quoting Nordling00
He is just a scam mate, don't waste your time and money for him. Let him lose on his own, you don't need to lose with him.
It's all my responsibility. Tnx for the advice.

Seems this thread might be closed quite soon. Will try a different approach for manual trading. I'm learning. Till now traded only automated (except some stocks i trade manual). Can see in myfxbook quite ok results for my diversified EAs portfolio.
  • #14
  • Jul 30, 2021 7:58pm Jul 30, 2021 7:58pm
Delete or close this ridiculous thread please. It's inaccurate and untrue.


Peter
Real Trading is not gambling.
  • #15
  • Jul 10, 2023 2:50pm Jul 10, 2023 2:50pm
Quoting PeterCaleb
{quote} I will say what I have said before, boy, I do not gamble. I learned how to frame an instrument so I get the maximum return with least risk. End of story. It's nothing flashy but it is consistent. As to your obvious inability to scope out a plan to generate basic mathematics, I would say you have much to learn, whoever you really are. I have no interest in labels such as "forex trader". To me that is for preschoolers. Either you understand what comes before the foreign exchanges or you don't. Competitions are for children. Even you people's...
It turns out Peter still keeps his awesome results 5% daily profits! OK. Now we have Chat-GPT and let's use AI to get some glues from Peters's posts.

Below is what AI suggests when posting Peter's text in a prompt message and asking AI for some glues:

The post contains quite a lot of advice, albeit in a rather harsh and unfiltered way. Here are some key points that can be extracted for trading:

  1. Risk Management: The writer emphasizes the importance of crafting a trading instrument that minimizes risk while maximizing return. This might refer to using techniques such as diversification, stop-loss orders, or other strategies to mitigate risk.
  2. Understanding Market Fundamentals: The author dismisses labels such as "forex trader" and stresses the importance of understanding the basics of market trading. This could be about having a deep understanding of economics, monetary policy, and how different markets interact.
  3. Avoiding Overconfidence and Ego: The author highlights the dangers of trading with an inflated ego, and implies that consistent results are more important than pride. It's important to make decisions based on research and facts, not emotions or arrogance.
  4. Doubt Over Reliability of Data: The author invites the reader to question the reliability of the data they are using, suggesting that it might be wise to always have a backup plan and not to trust everything at face value.
  5. Avoid Predicting the Market: The writer criticizes the approach of trying to predict the market's direction, suggesting that traders should instead focus on responding to market movements rather than trying to dictate them.
  6. Against Gambling Attitude: The author denounces the "oh well, took a loss on that one, moving on" attitude, implying that each loss should be a learning opportunity rather than something to shrug off.
  7. Don't Be Lazy: Laziness is criticized. This could mean that it's important to do thorough research before making any trading decisions.
  8. Trading is Not a Spectator Sport: The author points out that good trading is not exciting or dramatic; it's often quiet, meticulous, and consistent. This is a counter to the idea of trading as an adrenaline-pumping activity.
  9. Trading for a Living, Not for Excitement: The author emphasizes that their purpose in trading is to earn a living, not for the thrill or competition. This suggests the need for a professional attitude in trading.

Remember that while these tips may be helpful, every trader has their own style and approach. What works for one person might not work for another. So it's essential to continue learning, experimenting, and finding what works best for you.

  • #16
  • Jul 10, 2023 2:51pm Jul 10, 2023 2:51pm
Quoting PeterCaleb
Delete or close this ridiculous thread please. It's inaccurate and untrue. Peter
Peter, please point out what is not true in this thread? I am referring only to your posts and trying to extract from them a strategy on how to earn 5% daily consistently. Thats it. Where I am wrong here?
  • #17
  • Edited 3:17pm Jul 10, 2023 3:03pm | Edited 3:17pm
Quoting gepards
{quote} OK... What could be the opposite of this sentence? Losers and winners in trading are defined by who has worse strategy or entry or exit. Did I get it right? {quote} OK... If I trade GBPUSD... what I am dealing with? Read again... "real trader" .... "knows HOW" .... I need help to unserstand this... Here is some diamond hidden I feel that. It IS IMPORTANT to LEARN from that sentence. Need to try HARDER. Just an idea... maybe answer is the word "PERIOD" ? Let's dig deeper... first LEARN what could be "period" from Wikipedia.Here...
Here asked Chat-GPT regarding this idea of "wavelength" - see answer:

The idea of using the concept of wavelengths, typically used in physics and mathematics, to create a Forex trading strategy is intriguing. This is similar to the principle behind many technical analysis tools that identify and analyze market cycles. The "wavelength" in this context could be analogous to the period or cycle length of market trends.

A possible Forex trading strategy based on this concept could involve identifying and trading based on the cyclical patterns in the market. Here's a basic outline:

  1. Identify Market Cycles: Use technical analysis tools like Moving Average Convergence Divergence (MACD), Relative Strength Index (RSI), or Stochastic Oscillator to identify cyclical patterns in the market. You can think of these as your "waves". The "wavelength" would be the period of these cycles - the distance between peaks (high points) or troughs (low points).
  2. Determine Frequency of the Cycles: Cycles with higher frequencies have shorter wavelengths (i.e., the peaks and troughs are closer together), while cycles with lower frequencies have longer wavelengths (the peaks and troughs are further apart). In market terms, a high-frequency cycle might be a short-term trend, while a low-frequency cycle might be a longer-term trend.
  3. Trade Based on the Cycles: Once you've identified a cycle and determined its frequency, you can aim to trade based on that cycle. For example, you might buy when the market is at the trough of a cycle (anticipating it will rise) and sell when it's at the peak (anticipating it will fall).
  4. Consider the Medium: In the same way that a wave's medium can affect its wavelength, the "medium" of a market cycle (i.e., the broader market conditions) can affect its length and impact. Always consider the wider economic and market context when trading.
  5. Adjust to Changes in the Cycle: Just like in physics, market cycles can change. Be prepared to adapt your strategy if the cycle changes - for example, if a short-term trend becomes a long-term trend.

  • #18
  • Jul 10, 2023 3:09pm Jul 10, 2023 3:09pm
I hope you're all doing well and navigating the trading waters smoothly! I wanted to share some thoughts that have been brewing in my mind regarding one of our community members, Peter.

You might know Peter for his seemingly harsh comments and unconventional trading perspectives, but if you read between the lines, there seems to be something quite remarkable. Despite his abrasive tone, there's a possibility that Peter has indeed mastered a unique trading strategy. A strategy that potentially allows him to achieve consistent daily profits of around 5%. Quite a feat, right?

Now, you might wonder why he's even part of our community if he has already found a seemingly foolproof strategy. I have a theory about that. Trading, as we all know, can often be a lonely endeavor. It's a pursuit we mostly do in isolation, studying charts, analysing trends, and making predictions based on our observations. So, it seems plausible that Peter is here in the Forex Factory (FF) community because he's seeking some kind of camaraderie, a sense of belonging, even if his approach to interaction may seem a bit standoffish at times.

However, it's essential to remember that Peter is under no obligation to share his trading strategies. After all, each trader's strategy is often a product of intense study, trial and error, and a healthy dose of intuition. But this doesn't mean we can't learn something valuable from him.

Here's where the power of AI comes into play. With the help of advanced language models like ChatGPT, we can analyze Peter's posts and start to synthesize some potentially useful insights. ChatGPT can help us decipher his cryptic messages and extract nuggets of trading wisdom that might otherwise go unnoticed.

We're not trying to steal Peter's secrets or replicate his strategy exactly. Rather, the goal is to broaden our perspectives and learn from every member of our community, Peter included. The beauty of trading is that there's no "one size fits all" strategy. Each of us brings something unique to the table, and there's always room for growth and learning.

So, here's to Peter and all the wisdom he (intentionally or unintentionally) shares with us! Let's keep an open mind, foster a sense of community, and grow together in our trading journey.

Happy trading, everyone!
  • #19
  • Jul 10, 2023 10:10pm Jul 10, 2023 10:10pm
So you still don't know how to think for yourself. Congratulations. Idiots abound.
Real Trading is not gambling.
  • #20
  • Jul 10, 2023 10:20pm Jul 10, 2023 10:20pm
From any of my experience, if a person can achieve minimum 0.25-0.5% per day per instrument, even IF, they only trade 1 instrument, then they can do better and improve that %. This thread clearly shows you do not understand what was talked about therefore do not know how to track a market. As to ff being a "community", gimme a break. Learning, in some contexts, has very little to do with others and what they say or do or "show". So what could be left then? I don't sugarcoat what I say because this is not a real place with real people, So it doesn't deserve the respect of dealing with real people. After all, real people talk about real things, not all the "modern garbage" on these sites. Cheers.

Peter
Real Trading is not gambling.
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