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Managing Star Traders (the top 1%)

  • #21
  • Apr 7, 2008 2:58am Apr 7, 2008 2:58am
Quoting usdivers
I love the sarcasm on this site, and the people that love to knock people that are making money from forex. Just for the sake of the people that do read this, and are not morons....and got what Bruce and I were saying about not being greedy....once you get your account to a state where you are making great money per week....you don't keep compounding, you take your profit out each week.
It is such a pleasure to communicate with an intelligent person such as yourself.

I could not have made the point better myself. I have come to the conclusion that those with serious issues of EGO as relates to always being so in need to demonstrate how intelligent they are by having this superior position can rarely succeed in making FX profits.

I just posted this to another thread on this forum and it actually has some relevance to this thread.

Please read it and you wil understand who the real turkey's are.

Link:

http://money.cnn.com/2008/03/31/news...tune/index.htm

Bruce

Not the Turkey but the Butcher ! Ouch...I hate blood...
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  • #22
  • Apr 7, 2008 3:32am Apr 7, 2008 3:32am
OK I'm in no way discrediting forexfactory

but I now have found my way of trading and that is the reason why I quit, simply because I will not learn anything out this forum anyway, now I deal with the real money and real world

so if anyone said a great success without trying to explain anything please be skeptical, be very very skeptical until there are some hints provided regarding the system

afterall why would succesful traders spend their expensive time here in a beginners forum? I would rather spend my valuable time with real traders, open a trading training center, do more due dilligence on the brokers etc. etc.

... unless there is a hidden agenda ....
  • #23
  • Apr 7, 2008 4:37am Apr 7, 2008 4:37am
Quoting Gift_Art
OK I'm in no way discrediting forexfactory

but I now have found my way of trading and that is the reason why I quit, simply because I will not learn anything out this forum anyway, now I deal with the real money and real world

so if anyone said a great success without trying to explain anything please be skeptical, be very very skeptical until there are some hints provided regarding the system

afterall why would succesful traders spend their expensive time here in a beginners forum? I would rather spend my valuable time with real traders, open a trading training center, do more due dilligence on the brokers etc. etc.

... unless there is a hidden agenda ....
The person with a hidden agenda just might be the one that makes the suggestion. We think about other people from our own perceptions.

If you really want to understand why I will try hard to explain.

When we are blessed in life it is our attitude that allows us to be blessed.

By giving back without the need for a payoff or a reward.

The only reward is doing good deeds.

Can you understand that ?

Have a Great Day !!!


Bruce
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  • #24
  • Apr 7, 2008 4:53am Apr 7, 2008 4:53am
[quote=Lohr;1937208]a star trader, one of those people who seems one with the market, who can generate 3-10% every day, almost regardless of market conditions.

There is NOONE outthere achieving such results consistently. Period.
  • #25
  • Edited 5:54am Apr 7, 2008 5:45am | Edited 5:54am
Lots of differing views on the reality of whether you can scale up an account extremely fast, like take 2-5K and do the 10 pips a day to a million dollars in a year. Obviously if a trader can do 40 pips a day with extreme consistency the million dollars can happen a lot faster.

So some say you'll be detected, shaken out by the brokers or the banks. What's the truth here?

If it's true, how do you get around it?
Change brokers regularly?

That was suggested as necessary by the author of the 10 pips to a million dollars at

http://www.forexfactory.com/showthre...t=10860&page=4

Sign in with different names or business accounts?
Have a back-up IP address scrambler software?
Or is it all just hysteria and some brokers like, say, Oanda just don't care?
  • #26
  • Apr 7, 2008 5:49am Apr 7, 2008 5:49am
Excellent. Thanks again, Treva. I'll keep this in mind as I progress with this. The star trader management and improvement is moving fast enough it may not matter but what you write, I will keep in mind.


Quoting TrevA
This type of automation/workflow is very easy to do but would require a bit of programming.

Quite simply, the trader would enter tiny positions into Metatrader and an API would send the positions to the money manager. Really simple stuff to program actually.

TrevA
  • #27
  • Apr 7, 2008 5:52am Apr 7, 2008 5:52am
Quoting Warren Forex
The person with a hidden agenda just might be the one that makes the suggestion. We think about other people from our own perceptions.

If you really want to understand why I will try hard to explain.

When we are blessed in life it is our attitude that allows us to be blessed.

By giving back without the need for a payoff or a reward.

The only reward is doing good deeds.

Can you understand that ?

Have a Great Day !!!


Bruce
Wonder ful Wise Words Sir !!

baz
  • #28
  • Apr 7, 2008 6:21am Apr 7, 2008 6:21am
Quoting Warren Forex
The person with a hidden agenda just might be the one that makes the suggestion. We think about other people from our own perceptions.

If you really want to understand why I will try hard to explain.

When we are blessed in life it is our attitude that allows us to be blessed.

By giving back without the need for a payoff or a reward.

The only reward is doing good deeds.

Can you understand that ?

Have a Great Day !!!


Bruce
you have been here for more than 1 year

anything useful to share sir?



uncle please just let the newbies manage their own money

if you want respect or money then start sharing and let us backtest or forwardtest it, meanwhile what you have said so far is just "HEY THERE IS A HOLY GRAIL!!!"

ok ok I'm off this forum anyway you newbies never believe in anything untested (YOU need to test it yourself)

and remember past results doesn't guarantee future results

cheers
  • #29
  • Apr 7, 2008 7:59am Apr 7, 2008 7:59am
Quoting Warren Forex
With Respect ! I sent you the PDF file of my FX Trades at PFG. Did you get the email that I sent you with the record of the trades ?

Can you verify that the results are exactly as I said they were ?

I would expect nothing less from a fair minded person that I am sure you are.

With my record I am not having difficulty trading FX for myself and others.

Good fortune to you in your trading.

Bruce
What Does Controversy Have To Do With Profits?

It's all about probability. In my experience dealing with traders in the past, every time there has been questional "stuff" on the web, it has resulted in problematic relationships. It's not about whether or not what they're saying about you is true, but about the probabability that it is. I know what some will say; "How would you deal with good, honest traders that people are badmouthing on the web?" In my years of experience dealing with traders, I just haven't seen this happen. In my opinion, the awesome-trader-everyone-wants-to-badmouth scenario just doesn't surface too often. I'll err on the side of caution on this one.

I did get the email that you sent me with the record of the traders. This record was for only 1 month, which is not statistically significant.

We need at least three months of verifiable statements from the same account (and a 3-month period is usually too short, unless we're dealing with an execeptional, active trader that has enough trades to make their track record statistically significant). By "verifiable" I don't mean audited (even though that would be ideal), but we need to verify with the brokerage firm where the statements are from that they're real. Anyone could provide an Excel spreadsheet with some fake numbers.
  • #30
  • Apr 7, 2008 8:29am Apr 7, 2008 8:29am
Quoting Gift_Art
OK I'm in no way discrediting forexfactory

but I now have found my way of trading and that is the reason why I quit, simply because I will not learn anything out this forum anyway, now I deal with the real money and real world

so if anyone said a great success without trying to explain anything please be skeptical, be very very skeptical until there are some hints provided regarding the system

afterall why would succesful traders spend their expensive time here in a beginners forum? I would rather spend my valuable time with real traders, open a trading training center, do more due dilligence on the brokers etc. etc.

... unless there is a hidden agenda ....
Gift_Art, I do agree in part with what you're saying. In general, there aren't many good traders on the forums; but then again, there aren't many good traders anywhere. That's the statistical truth.

I do disagree with the generalization that successful traders won't spend some of their time on the forums. Every trader is different and I do tend to find good traders that like helping others and belonging to a group.
  • #31
  • Apr 7, 2008 2:24pm Apr 7, 2008 2:24pm
Quoting dobby66
Quoting Lohr
a star trader, one of those people who seems one with the market, who can generate 3-10% every day, almost regardless of market conditions.
There is NOONE outthere achieving such results consistently. Period.
I agree; unless someone is using a huge amount of leverage and only trading for a short period of time. Results like those are not sustainable. I'm constantly interviewing traders and have seen my share of "professionals;" so I think my opinion is pretty valid.
  • #32
  • Apr 7, 2008 5:44pm Apr 7, 2008 5:44pm
It all comes down to what one person defines as 'consistently' or 'sustainable'. Over 10 years? 5? 1 year of consistent trading with day-by-day compounding can generate huge returns; consistent enough for most.

To state this so certainly, or agree or disagree, is suspect certainty.



Quoting dominicanosrus
I agree; unless someone is using a huge amount of leverage and only trading for a short period of time. Results like those are not sustainable. I'm constantly interviewing traders and have seen my share of "professionals;" so I think my opinion is pretty valid.
  • #33
  • Apr 7, 2008 7:01pm Apr 7, 2008 7:01pm
Quoting Lohr
It all comes down to what one person defines as 'consistently' or 'sustainable'. Over 10 years? 5? 1 year of consistent trading with day-by-day compounding can generate huge returns; consistent enough for most.

To state this so certainly, or agree or disagree, is suspect certainty.
3-10% a day compounded for 1 year is impossible. These types of figures are usually the offspring of mental masturbation sessions of newby traders - IMHO.
  • #34
  • Apr 7, 2008 8:53pm Apr 7, 2008 8:53pm
Dinosaur now look what you did!

As soon as you start talking about masturbation they put the thread in the beginners section...just the place to find hedge fund traders who excel using technical and manual tools of the trade.
  • #35
  • Apr 7, 2008 9:21pm Apr 7, 2008 9:21pm
Quoting dominicanosrus
Gift_Art, I do agree in part with what you're saying. In general, there aren't many good traders on the forums; but then again, there aren't many good traders anywhere. That's the statistical truth.

I do disagree with the generalization that successful traders won't spend some of their time on the forums. Every trader is different and I do tend to find good traders that like helping others and belonging to a group.
dominic, you are a good thinker, you fit to become a trader

my response goes to all....

OK, I think I need to redefine my post

I believe there are 4 groups of succesful traders

1. succesful live traders w long term positive results (I found only a couple in this forum, but still they don't expose 100% of their knowledge here)
2. succesful live traders w short term success who later open a paid forum, paid signals, open opportunities for charities and so on I think I've met most of them in the internet and in the real life trying to sell something
3. succesful honest demo traders
4. succesful liar demo traders with some hidden agenda

I was referring to traders type 2,3,4 on my posts esp. #4

now there are good and bad traders as well

when one is on a forex training course and get to the indicator subject, entry, exit rulesthey will usually show you picture or some fragment of the market when the method works

they will hide from you those frustating moments of consolidation which if not being anticipated from the beginning might wipe out your account, check soultrader's blog if you want to know how even a very good method still unable to cope the consolidation

a good trader doesn't necessarily to be a succesful one but he/she will tell you what is real and what's not in forex trading and my way to analyzed one's integrity is by checking his/her back posts from the very beginning

check for consistency
look for anything that just doesn't make sense

last it is much better to play your own account, at least, if something goes bad you will learn the lesson

put your money in a managed account, you would still be wiped anyway without a good luck, but nothing learnt

trading is an extremely high risk investment

rgds
  • #36
  • Apr 7, 2008 10:55pm Apr 7, 2008 10:55pm
Quoting Warren Forex
The person with a hidden agenda just might be the one that makes the suggestion. We think about other people from our own perceptions.

If you really want to understand why I will try hard to explain.

When we are blessed in life it is our attitude that allows us to be blessed.

By giving back without the need for a payoff or a reward.

The only reward is doing good deeds.

Can you understand that ?

Have a Great Day !!!


Bruce
There is no other way. You cannot add to yourself by attempting to take from others. The belief that you can, and the attempt to do so, is the reason for the failure rate in FX. Take note of this teaching from WarrenFX. Technique is secondary to this. You will learn the truth of this the hard way if you fail to understand it now
BTC Return This Year: na
  • #37
  • Last Post: Apr 7, 2008 11:14pm Apr 7, 2008 11:14pm
Quoting Poocher
Dinosaur now look what you did!

As soon as you start talking about masturbation they put the thread in the beginners section...just the place to find hedge fund traders who excel using technical and manual tools of the trade.
Ha! Ha! LOL! You're right! We're swimming in a sea of talent!
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