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The brutal truth of day trading

  • #1,981
  • Jul 16, 2021 11:01pm Jul 16, 2021 11:01pm
Quoting RickM
{quote} Please let me know what broker that allows 400 lots on any market? Are we suppose to take this seriously?
Maybe he meant 400 units instead of 400 lots. That makes more sense.
If you are good at something, never do it for free--Joker
  • #1,982
  • Edited 1:31am Jul 17, 2021 12:40am | Edited 1:31am
Quoting riclater211
{quote} Hey RickM, You do understand I am not trying to slight you or go against you. No need to defend yourself. I was stating that you are under estimating yourself. You are doing good. I mentioned before that I have more than a few colleagues and friends you day trade/scalp and do well, after all it is the most popular way to trade for non-pros. By the way, banks, at least in the States, are offering a fabulous 0.50%. A cool $500 a year before taxes. I can quadruple that without trying with some dividend paying ETFS. Anyways. Keep up the good...
Hi ric

I have more funds in stocks then in the Forex or Futures markets. In Australia, dividend's offered by big company's are often around 5% and also are full franked so that's tax free and very easy money. I took half my funds out of Forex broker accounts in the middle of last year and brought Australia Bank Stocks after they crashed to about half their normal price.
Its been my best trade I have ever undertaken and its still running as I speak with profits now in excess of $100K.

Most of those profits will be cashed in by the end of the year and will be put back into my three major forex broker accounts I have, which leaves me currently trading one $50K account and 5 $10K accounts running Algorithm's which I rather wish I could burn.
Tax issues is the only reason the trade is still running.

If you need prove, PM me.

Cheers
Trading thin liquidity at the boundary of the charts
  • #1,983
  • Jul 17, 2021 1:05am Jul 17, 2021 1:05am
Quoting RickM
{quote} Hi ric I have more funds in stocks then in the Forex or Futures markets. In Australia, dividend's offered by big company's are often around 5% and also are full franked so that's tax free and very easy money. I took half my funds out of Forex broker accounts in the middle of last year and brought Australia Bank Stocks after they crashed to about half their normal price. Its been my best trade I have ever undertaken and its still running as I speak with profits now in excess of $100K. Most of those profits will be cashed in by the end of...
Why do you feel obligated to explain then furnish your financial details to some stranger on the internet ?
Why do you have to show proof to absolute strangers ?

The people who do that harbour commercial intent.

If anyone is that naive, ignorant, stupid can't think for him/herself to be misled with bs then too bad.
Know what you trade
  • #1,984
  • Jul 17, 2021 1:11am Jul 17, 2021 1:11am
Quoting ryuryu
{quote} Ask yourself one question. If that bold eye opener is so good trader, why he is writing books, record videos for youtube and teaching? To grow more competitors and have harder life? - Hey, why are you not training? - I'm working with my mindset. - But you you have to train! You are boxer! - No. Training sucks. Psychology rule. Correct mindset and I'll win. Psychology is very interesting. But if you don't know how much 2+2 is it will not help.

Yeh I agree, some people will never be able to add 2+2 doesn't matter how much you stuff into their brain. But that's often because they are not stupid but because they think they know it all when in actual fact they know b..... all.

Before making a skeptical comment about Tom's trading prowess though I would advise you to study his record first. He's been trading for over twenty years and he's made more money then you and I can ever dream of mate. I don't subscribe to him but I like what he has to say about trading psychology. He also has made some good scalping tip videos on You Tube which I've found useful.
  • #1,986
  • Jul 17, 2021 1:47am Jul 17, 2021 1:47am
Quoting BWilliam
{quote} Why do you feel obligated to explain then furnish your financial details to some stranger on the internet ? Why do you have to show proof to absolute strangers ? The people who do that harbour commercial intent. If anyone is that naive, ignorant, stupid can't think for him/herself to be misled with bs then too bad.
Right on cue.

That's the benefit of building a reputation on forum.^^^

There's always the commercial intent.
Know what you trade
  • #1,987
  • Jul 17, 2021 1:51am Jul 17, 2021 1:51am
Quoting BWilliam
{quote} Why do you feel obligated to explain then furnish your financial details to some stranger on the internet ? Why do you have to show proof to absolute strangers ? The people who do that harbour commercial intent. If anyone is that naive, ignorant, stupid can't think for him/herself to be misled with bs then too bad.
Hi BWilliams

A screenshot of my portfolio to one random person with personal details masked offers little risk to me.

The problem in Forex factory is too many traders make here massive claims of profits, but its all bullshit.
I will never claim to make any major profits without providing proof, that's my promise to anyone that follows me or reads my shit.

I also claim to make good profits day trading my scalping strategies. Anyone within my trading group will here me make many of those calls live, with the resulting profit results called after.

Who else has the guts to match my transparency, very few here on Forex factory.

Cheers
Trading thin liquidity at the boundary of the charts
  • #1,988
  • Jul 17, 2021 1:56am Jul 17, 2021 1:56am
Quoting RickM
{quote} Hi BWilliams A screenshot of my portfolio to one random person with personal details masked offers little risk to me. The problem in Forex factory is too many traders make here massive claims of profits, but its all bullshit. I will never claim to make any major profits without providing proof, that's my promise to anyone that follows me or reads my shit. I also claim to make good profits day trading my scalping strategies. Anyone within my trading group will here me make many of those calls live, with the resulting profit results called...
Why would anyone make claims of massive profits on this forum ?

Why do you care if someone else made massive profits ?

Why do you care if someone follow you or read your shit or not ?

Why do you bother to make claims to make good profits day trading your scalping strategies ?

Why do you bother to create trading groups then make live calls ?

Is this your purpose why you're active on forum ?

I see commercial intent.
An advertising tool.

This type of elaborate activity is not about guts.
This is a lame excuse to fry a bigger fish.

Anyway this is none of my business, just saying.
Know what you trade
  • #1,989
  • Jul 17, 2021 1:59am Jul 17, 2021 1:59am
Quoting BWilliam
{quote} Right on cue. That's the benefit of building a reputation on forum.^^^ There's always the commercial intent.
Hi BWilliams

Correct, another magic EA that uses 68 indicators, monitored by professionals that works towards 1- 1.3% profits a day and has monthly profits of 7-20%.

I bet it only costs $100 for a life time licence.
BWilliams - how could I be so lucky to find this money making machine.
Trading thin liquidity at the boundary of the charts
  • #1,990
  • Jul 17, 2021 1:59am Jul 17, 2021 1:59am
Quoting RickM
{quote} Hi BWilliams A screenshot of my portfolio to one random person with personal details masked offers little risk to me. The problem in Forex factory is too many traders make here massive claims of profits, but its all bullshit. I will never claim to make any major profits without providing proof, that's my promise to anyone that follows me or reads my shit. I also claim to make good profits day trading my scalping strategies. Anyone within my trading group will here me make many of those calls live, with the resulting profit results called...
Then why don't you start a new thread sharing your strategy so people doesn't have to keep on searching your post to find where and when you shared some important information/knowledge. Just what i think bcos whenever i feel bored i like reading your post and in every post i learn something new which is not easily available or no one has time to share instead they just point out irrelevant ideas instead of coming to the actual point.
  • #1,991
  • Jul 17, 2021 2:07am Jul 17, 2021 2:07am
People go mad... demand financial verification on social media where everybody is only anonymous creature .. it is insane... nobody has the right to do it ...
Who cares if you believe other person or not.
  • #1,992
  • Jul 17, 2021 2:20am Jul 17, 2021 2:20am
Quoting BWilliam
{quote} Why would anyone make claims of massive profits on this forum ? Why do you care if someone else made massive profits ? Why do you care if someone follow you or read your shit or not ? Why do you bother to make claims to make good profits day trading your scalping strategies ? Why do you bother to create trading groups then make live calls ? Is this your purpose why you're active on forum ? I see commercial intent. An advertising tool. This type of elaborate activity is not about guts. This is a lame excuse for a bigger fish.
Because being involved with trading forums has allowed me to meet and trade alongside some amazing people.

ITS A LONELY LIFE BEING A PROFFESSIONALLY TRADER

My wife, family, friends have no idea what its like - I need some buddies like Zoltan to support me on those dark moments when my trading goes wrong.
That's more valuable to me than money, and I already have enough $$$ to quit tomorrow and join George on a fishing trip.
Trading thin liquidity at the boundary of the charts
  • #1,993
  • Jul 17, 2021 2:36am Jul 17, 2021 2:36am
Quoting RickM
{quote} Because being involved with trading forums has allowed me to meet and trade alongside some amazing people. ITS A LONELY LIFE BEING A PROFFESSIONALLY TRADER My wife, family, friends have no idea what its like - I need some buddies like Zoltan to support me on those dark moments when my trading goes wrong. That's more valuable to me than money, and I already have enough $$$ to quit tomorrow and join George on a fishing trip.
I'm not a professional trader.
I don't trade for a living.

Ask Pete, he knows why I trade.
Stupid lockdown made me come back to forum.
Know what you trade
  • #1,994
  • Jul 17, 2021 3:48am Jul 17, 2021 3:48am
Quoting RickM
{quote} Hi BWilliams Correct, another magic EA that uses 68 indicators, monitored by professionals that works towards 1- 1.3% profits a day and has monthly profits of 7-20%. I bet it only costs $100 for a life time licence. BWilliams - how could I be so lucky to find this money making machine.
It's$100 per $500 deposit so for $10000 it's $2000
  • #1,995
  • Edited 5:14am Jul 17, 2021 5:03am | Edited 5:14am
Quoting bilal1947
{quote} Na thats how he behaves normally. Nothing unusual. The other day he gets excited by listening the word imbalance on a candlestick chart and he thinking in his mind oh its me who trade volume imbalance though Scherzi didnt even use that word Volume in his post. Yet he making himself laugh how stupid scherzi is though it looks the otherway round. This will only harm him in long run as when one feels his glass is full and he knows everything and he missed to learn new things.
Never called anyone stupid. I'm stupid that is truth.
I just say that I don't believe 400 lot size positions, I do not trust traders who do not trade, but teach. Don't believe that anyone can beat algos and money using rectangles and lines. It is clear for me.

And I don't need to "learn" that. Because there is nothing to learn. To learn how to photoshop 400 lots? Or how to lie about 5% daily profit? What to learn? How to draw arrows on the history charts? Incredible stories of successful trading only impress newbies who want to get rich fast. Not me

And yes I was very impressed about imbalance and always say many thanks to RickM, because he told be what to do exactly with that on forex. He is only one person here who has something everyone can learn. He don't post bullshit and fairy tales. I didn't know the scheme how to use volume on forex from CME futures. That is true. So I'm stupid? Ok, I'm stupid. I was using binance datafeed to trade on bitmex for several years but didn't guess that the same way it can be used here on forex.
Observer effect
  • #1,996
  • Jul 17, 2021 6:13am Jul 17, 2021 6:13am
Quoting ryuryu
{quote} Never called anyone stupid. I'm stupid that is truth. I just say that I don't believe 400 lot size positions, I do not trust traders who do not trade, but teach. Don't believe that anyone can beat algos and money using rectangles and lines. It is clear for me. And I don't need to "learn" that. Because there is nothing to learn. To learn how to photoshop 400 lots? Or how to lie about 5% daily profit? What to learn? How to draw arrows on the history charts? Incredible stories of successful trading only impress newbies who want to get rich...
I too second you on RickM an too want to learn and still learning from him, but i dont agree on the other part about yourself you're not stupid at all.

Stay blessed
Regards
Bilal
"Exchange of hands"
  • #1,997
  • Jul 17, 2021 6:23am Jul 17, 2021 6:23am
Quoting bilal1947
{quote} Watch for a buy price action at 1.3710 or 1.3750 till 1.3850 It looks to me this i can be wrong, in between price will give numerous opportunities as it prints the price only then we can decide.
This was traded on Jul 14, posted on another thread.
  • #1,998
  • Jul 17, 2021 6:26am Jul 17, 2021 6:26am
Quoting RickM
{quote} Please let me know what broker that allows 400 lots on any market? Are we suppose to take this seriously?
400 lots????? from where did you see the 400 lots????

 

  1. Jul 14, 10:17pm (47 hr ago)


BUY GBPUSD 1.38258
Take profit 1.38630
Stop Loss 1.38190

This was called on the 14 July on the another thread

  • #1,999
  • Jul 17, 2021 6:35am Jul 17, 2021 6:35am
Facts:


Inserted Video
  • #2,000
  • Jul 17, 2021 6:41am Jul 17, 2021 6:41am
Quoting Techanalyst
Facts: https://www.youtube.com/watch?v=8pkHUrHBtEo
The moment the trader trades for a living, trading forex for a regular monthly income he created a problem for himself.
It takes a separate thread to explain this fact.
Either you know this forex market enough or you don't.

https://www.forexfactory.com/thread/...8#post13629428
Know what you trade
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