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The brutal truth of day trading

  • #2,781
  • Aug 4, 2021 10:05pm Aug 4, 2021 10:05pm
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That's for the morning.
Trading like this will be repeating and to the extend boring if not for the money.

Day trading with a good strategy works.
That's all folks, trade safe.
  • #2,782
  • Aug 4, 2021 11:48pm Aug 4, 2021 11:48pm
Quoting GEfx
{quote} So...what do you want to talk about? Post something that will prompt discussion.
If I wanted to listen to noise for the sake of noise I'd be reading the market myself.

Leave the discussion where it lay if you think every thread needs to be trashed with arbitrary and irrelevant posts that have no value now or later. As I said; there's a EUR/USD thread where you're more than welcome to pretend the market cares what you think.

"But... trade thread on trade forum... How me post trade post if me not pretend me know trade? Me need to post trade post!"

Silence is golden.
"The fun is in the hunt. Not the kill."
  • #2,783
  • Aug 4, 2021 11:59pm Aug 4, 2021 11:59pm
Quoting tiborf71
i like to read ff's pages during my trades. it doesn't matter to me what the topic is. man is always learning something.
Children are always learning something. Man only teaches something worth teaching if he's already learned it. If you haven't figured out yet that most of what you're learning is that children love pretending to teach what they haven't learned... then... keep 'learning' until you figure that out I guess?
"The fun is in the hunt. Not the kill."
  • #2,784
  • Aug 5, 2021 12:07am Aug 5, 2021 12:07am
Quoting Redeflect
{quote} Children are always learning something. Man only teaches something worth teaching if he's already learned it. If you haven't figured out yet that most of what you're learning is that children love pretending to teach what they haven't learned... then... keep 'learning' until you figure that out I guess?
Silent is very golden
Trading thin liquidity at the boundary of the charts
  • #2,785
  • Aug 5, 2021 1:43am Aug 5, 2021 1:43am
Quoting mixedbags
{image}That's for the morning. Trading like this will be repeating and to the extend boring if not for the money. Day trading with a good strategy works. That's all folks, trade safe.
like any system, there are risks.
what are the risks to your system? from which profits can escape.
  • #2,786
  • Aug 5, 2021 2:22am Aug 5, 2021 2:22am
Quoting mixedbags
{image}That's for the morning. Trading like this will be repeating and to the extend boring if not for the money. Day trading with a good strategy works. That's all folks, trade safe.

good morning
the last trade for the real traders
just because it is fun
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  • #2,787
  • Aug 5, 2021 2:41am Aug 5, 2021 2:41am
Quoting Redeflect
{Leave the discussion where it lay if you think every thread needs to be trashed with arbitrary and irrelevant posts that have no value now or later. As I said; there's a EUR/USD thread where you're more than welcome to pretend the market cares what you think.
Here we have several options:

1. They said that it is impossible to earn from scalping.
2. The same time they are proofing that statement drawing random bullshit on historical charts.

RickM is trying to show that it is possible and
a) drawing bullshit is not necessary
b) you can use just math (not magic)

I don't know why he is still trying.

Do not speak to a fool, for he will despise the wisdom of your words.
Do not answer a fool according to his folly, or you yourself will be like him.
and of course
Do not give dogs what is sacred; do not throw your pearls to pigs. If you do, they may trample them under their feet, and turn and tear you to pieces.
Observer effect
  • #2,788
  • Aug 5, 2021 3:17am Aug 5, 2021 3:17am
Quoting tiborf71
{quote} like any system, there are risks. what are the risks to your system? from which profits can escape.
everything carries risk, even when I visit all the red light areas be it local or oversea it carries a risk that I might get HIV. Some get choked to death while eating, some get stroke while making love, etc.

the way I resolve this problem is via funded accounts. I have 4 and adding 1 more next week. The first one I paid US$645, pass the 100k challenge got refund. Used the refund buy the 2nd 100k challenge, pass it used the refund to buy the 3rd challenge pass again use it to buy the 4th 100k account challenge from another prop firm which is cheaper US$487 pass it use the refund to buy the 5th 100k challenge which is on going.

Let said both these prop firm gone bust, and let assumed that these 2 years plus I have make no profit from all these accounts, I only loss US$487 and the time.
  • #2,789
  • Aug 5, 2021 3:19am Aug 5, 2021 3:19am
Quoting ryuryu
{quote} Do not speak to a fool, for he will despise the wisdom of your words. Do not answer a fool according to his folly, or you yourself will be like him. and of course Do not give dogs what is sacred; do not throw your pearls to pigs. If you do, they may trample them under their feet, and turn and tear you to pieces.
Hallelujah brother Amen. Just came back from church, confessing my sins for visiting an unlicensed massage parlor.
  • #2,790
  • Aug 5, 2021 3:55am Aug 5, 2021 3:55am
Quoting tiborf71
{quote} like any system, there are risks. what are the risks to your system? from which profits can escape.
today no trading - BOE Monetary Policy Report
but I'll risk not making any money, morning $250 when to the masseuses' hole.
  • #2,791
  • Aug 5, 2021 4:16am Aug 5, 2021 4:16am
Quoting RickM
{quote}[/i] Maintained at 90% win rate. Does that sound logical or realistic to you?
Are those 90% win rate like the Georges 96% or 98% win rate that he claimed? Where we later found out that he closed the losing trades (hedged is positions) but didnt count the losing trades to the statistics, that way is very easy to achieve really high win rates, if you dont count the losses you can even have 100% win rate.
90% win rate scalping, i think you can be a good trader and with a little bit of luck you can do it for some weeks, but to do it for months or years that is a different story.
  • #2,792
  • Aug 5, 2021 5:50am Aug 5, 2021 5:50am
Quoting STrading
{quote} Are those 90% win rate like the Georges 96% or 98% win rate that he claimed? Where we later found out that he closed the losing trades (hedged is positions) but didnt count the losing trades to the statistics, that way is very easy to achieve really high win rates, if you dont count the losses you can even have 100% win rate. 90% win rate scalping, i think you can be a good trader and with a little bit of luck you can do it for some weeks, but to do it for months or years that is a different story.
I am a scalpers and there are losses, there will always be.
it doesn't matter what system we scalp based on.
because many methods are just nonsense.
and believe me, this method has a future.
m5-h1.
  • #2,793
  • Aug 5, 2021 8:16am Aug 5, 2021 8:16am
Quoting mixedbags
{image}That's for the morning. Trading like this will be repeating and to the extend boring if not for the money. Day trading with a good strategy works. That's all folks, trade safe.
I really like this kind of game, active scalping, knows what's going on HERE and NOW ... knows what to do HERE and NOW
I call it lawn mowing ...
  • #2,794
  • Aug 5, 2021 8:20am Aug 5, 2021 8:20am
Quoting BlackNapkins
{quote} I really like this kind of game, active scalping, knows what's going on HERE and NOW ... knows what to do HERE and NOW I call it lawn mowing ...
lol

  • #2,795
  • Aug 5, 2021 8:25am Aug 5, 2021 8:25am
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  • #2,796
  • Aug 5, 2021 8:30am Aug 5, 2021 8:30am
Quoting tiborf71
{quote} I am a scalpers and there are losses, there will always be. it doesn't matter what system we scalp based on. because many methods are just nonsense. and believe me, this method has a future. m5-h1.
Do you also have a 90% win rate?
  • #2,797
  • Aug 5, 2021 9:04am Aug 5, 2021 9:04am
Quoting STrading
{quote} Are those 90% win rate like the Georges 96% or 98% win rate that he claimed? Where we later found out that he closed the losing trades (hedged is positions) but didnt count the losing trades to the statistics, that way is very easy to achieve really high win rates, if you dont count the losses you can even have 100% win rate. 90% win rate scalping, i think you can be a good trader and with a little bit of luck you can do it for some weeks, but to do it for months or years that is a different story.
Hi STrading

I think if you trade price action setups and price, I would agree with you.

But what if we trade liquidity imbalances?
You can't fail if you trade short when there is Zero Sellers on the books within usable spread reach. Now suddenly 90%+ win rates are easily achieved.

Bringing George into the discussion, he made many claims of high win rates of 90%+ when he traded but the truth is no one ever saw his trading records to confirm his claims. Maybe Moody, Bluesteel or Profitfarmer have but I wasn't in the inner circle - just a trader who worked with him ocassionally after the thread stopped being popular.
Yes he hedged when needed but lets get to the hedging truth.
You can achieve 90%+ win rates trading M1 exhausion but if you are an astute hedger, you can achieve 99% winrates on trade SETUPS.


Cheers
Trading thin liquidity at the boundary of the charts
  • #2,798
  • Aug 5, 2021 9:08am Aug 5, 2021 9:08am
Quoting STrading
{quote} Do you also have a 90% win rate?
That's right, yes.
but you do not obligatory have to believe this.
  • #2,799
  • Aug 5, 2021 9:40am Aug 5, 2021 9:40am
Quoting RickM
Yes he hedged when needed but lets get to the hedging truth. You can achieve 90%+ win rates trading M1 exhausion but if you are an astute hedger, you can achieve 99% winrates on trade SETUPS. Cheers
RickM, this I don't understand pls enlighten me. I'm not mocking because I don't like others mock me as well.

With a 90-99% win rate which you say its easy to do which has to be the Holy grail strategy my question is,

Why are you not a Forex millionaire yet?
Or are you already a Forex millionaire?

Besides yourself are there any other traders, like Profitfarmer who trades together in the discord group Forex millionaires or on the way?

You may answer my question in private with pm.
Again, not mocking just trying to understand your claim.
Know what you trade
  • #2,800
  • Edited 3:34pm Aug 5, 2021 9:49am | Edited 3:34pm
Quoting BWilliam
{quote} RickM, this I don't understand pls enlighten me. I'm not mocking because I don't like others mock me as well. With a 90-99% win rate which you say its easy to do which has to be the Holy grail strategy my question is, Why are you not a Forex millionaire yet? Or are you already a Forex millionaire? You may answer my question in private with pm?
Jason I will.

But in short - only a fool thinks your broker will let you scalp on large trade sizes without slipping you unprofitably. They will delay execution, they will wider the spread

You are a target if you become very profitable and those fantastic trading spreads will become a thing of the past.
The liquidity provider will even attempt to bar you from getting access to the markets if your broker doesn’t keep your details private.

Trade moderate size on multiple accounts with a few seperate brokers.
Keep under the radar and be content with a wage.
Trading thin liquidity at the boundary of the charts
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