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Just Curious...Has anyone here consistantly made $$$ trading with Forex.com? 4 replies

Curious...

  • #1
  • First Post: Mar 1, 2006 9:20am Mar 1, 2006 9:20am
Hello all,

I've been reading this forum off and on and this is my first post.

I am really curious as to why it seems that most people here are seeking relatively small returns (in comparison with my own experiences). I've seen many postings where people will tell others that it's a bad idea to quit your job, etc. Although I do agree that trading for a living is a very tough job (mentally), and you can lose your butt pretty bad if you don't know what you're doing, I think a lot of it's potential goes underestimated in forums like this one. Maybe I'm wrong?

In regards to the claims of extremely small returns: Are many of you simply starting out with little money?

I'm not here to brag, nor do I feel like I have anything to brag about, but with a $15,000 investment into a fxsol account, I've consistently managed to add $180-$360 to my overall balance on a daily basis. Sometimes I will hit lucky days and see $1200+. I never lose out because of the strategy I have in place that involves multiple hedges. Also, I've only traded Euro to date. I'd be happy to explain my system if anyone is interested.

Anyway, hello all. I may be posting here quite often..

- elite
  • #2
  • Mar 1, 2006 9:32am Mar 1, 2006 9:32am
Congratulations on your consistent profits.
Since you offered......what is your system? How did it evolve??? Did you read or buy a system and modify it? How do you hedge? Do you go long and short on the euro or do you hedge with another pair?
Forex Trading: The hardest way to make easy money.
  • #3
  • Mar 1, 2006 9:44am Mar 1, 2006 9:44am
Quoting elite
Hello all,

I've been reading this forum off and on and this is my first post.

I am really curious as to why it seems that most people here are seeking relatively small returns (in comparison with my own experiences). I've seen many postings where people will tell others that it's a bad idea to quit your job, etc. Although I do agree that trading for a living is a very tough job (mentally), and you can lose your butt pretty bad if you don't know what you're doing, I think a lot of it's potential goes underestimated in forums like this one. Maybe I'm wrong?

In regards to the claims of extremely small returns: Are many of you simply starting out with little money?

I'm not here to brag, nor do I feel like I have anything to brag about, but with a $15,000 investment into a fxsol account, I've consistently managed to add $180-$360 to my overall balance on a daily basis. Sometimes I will hit lucky days and see $1200+. I never lose out because of the strategy I have in place that involves multiple hedges. Also, I've only traded Euro to date. I'd be happy to explain my system if anyone is interested.

Anyway, hello all. I may be posting here quite often..

- elite
Elite;

Sounds like you're doing very good. My first question is, is the $15K a real money account or a demo account. How long you been earning $180-$360 a day? So people will take you serious, why don't you post a copy of an account statement with your name and account # blanked out of course.

Thanks;

JohnFX
  • #4
  • Mar 1, 2006 9:53am Mar 1, 2006 9:53am
Elite, I don't think you're bragging at all. I've had the same feelings myself. I just wonder if the really successful people don't bother to come to forums.

That's great that you have a system that's working for you. I too have many friends who are consistently geting high returns. Personally, I have flu at the moment so I'm not trading, but I made some notes as to trades I could have taken and would have netted over 130 pips last night on three currency pairs. Do that kind of thing on a regular basis and you're OK.
The framework is there; we just have to work on our frame of mind.
  • #5
  • Mar 1, 2006 10:12am Mar 1, 2006 10:12am
Quote
I've been reading this forum off and on and this is my first post.

Hello Elite, and welcome to Forex Factory!

Quote
I am really curious as to why it seems that most people here are seeking relatively small returns (in comparison with my own experiences). I've seen many postings where people will tell others that it's a bad idea to quit your job, etc. Although I do agree that trading for a living is a very tough job (mentally), and you can lose your butt pretty bad if you don't know what you're doing, I think a lot of it's potential goes underestimated in forums like this one. Maybe I'm wrong?

I'm one of those who counsels beginner's to not quit their jobs. It is not that I advocate seeking small returns, but rather I want to make sure that beginners understand the need to minimize losses and protect their account while learning how to trade. Once that is firmly established, then I'm all for shifting the focus to increased returns.


Quote
I'm not here to brag, nor do I feel like I have anything to brag about, but with a $15,000 investment into a fxsol account, I've consistently managed to add $180-$360 to my overall balance on a daily basis. Sometimes I will hit lucky days and see $1200+. I never lose out because of the strategy I have in place that involves multiple hedges. Also, I've only traded Euro to date. I'd be happy to explain my system if anyone is interested.

Elite, $180-$360 daily on a $15,000 account falls between 1.2% and 2.4% daily. While I believe it is entirely possible to achieve that range as a daily average, I also think it is beyond the comprehension of most traders. Therefore, I appreciate your offer to share your system to let us see for ourselves if your system has merit and if we can learn something from you.

I'm sure there is no need to warn you that you may catch some flak from the more sceptical among us. I hope you will take that in stride and not let it deter you from dialogging with those of us who are more open.

BTW, I don't need to see your broker's statement; that's your personal businesss. Your posts here, along with our own analysis of your system is enough for me.

I look forward to your future posts.

Dial
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  • #6
  • Mar 1, 2006 10:45am Mar 1, 2006 10:45am
Thanks for the welcome from everyone.

I have to run to a meeting at the moment, but when I get back I'll try to write my system out clearly. I've been meaning to do so for myself anyway, since it's only been in my head up until now. Who knows, maybe the system is quite common. It just made sense and worked so I've continued to impliment it.
  • #7
  • Mar 1, 2006 11:39am Mar 1, 2006 11:39am
Quoting elite
Thanks for the welcome from everyone.

I have to run to a meeting at the moment, but when I get back I'll try to write my system out clearly. I've been meaning to do so for myself anyway, since it's only been in my head up until now. Who knows, maybe the system is quite common. It just made sense and worked so I've continued to impliment it.
Congratulations Elite on your successes. Welcome to the forum.
  • #8
  • Mar 1, 2006 1:12pm Mar 1, 2006 1:12pm
Hi Elite and welcome.


Since I signed up on the forum last year, I too have wondered why the profits were small. I have learned from two (lost) (educational) real accounts why developing discipline is so important. Strange I thought I had plenty spending 10 years in the military. I guess when it comes to money and the mind, greed kills.

I understand and agree with the idea that Merlin, Dial, Fiji and others share in that small gains and smaller losses while learning is essential in the learning curve.

Though, I am at a point where I would like to see larger gains. I'm interested as are many in any system that works well. Just prepare yourself for the few that will hammer your system and move forward, taking the criticism constructively.

Anyhow, welcome and I (we) all look forward to your future posts.
  • #9
  • Mar 1, 2006 1:39pm Mar 1, 2006 1:39pm
Welcome
Be more than happy to see your system and methods.

I have seen a couple posts in the past were people have quit their jobs, to trade, I think it takes alot of dedication and efforts trading to prove you can make it before making a decision like that, So if you have done it and as you say consistantly have gains that is really cool and congratulations.
  • #10
  • Mar 1, 2006 4:27pm Mar 1, 2006 4:27pm
I figured the experianced Traders here don't share what they really do to protect us newbies from ourselves.


My guess is they have all laid it on the line a few times to bump their account balances up to a level where trading 1 or 2% still yeilds enough to keep it worth their time.

If they shared that info we'd have allot more blown up accounts here for sure.
  • #11
  • Mar 1, 2006 4:56pm Mar 1, 2006 4:56pm
Well, I'm in the process of putting into words what my system has to offer. I decided to attempt it in paragraph form because I almost have to explain why I'm doing what I'm doing for it to make sense. Since this is taking longer than I thought, it'll probably be tomorrow before I post my final text. It should be decently formatted though.

nutmg12, you have a good point!

lambrechtj, thanks! I do this for a living now, and it consumes most of my time. I hardly ever leave an open order unattended.

Adrian, I do expect some critizism. I'm just looking for friendly chat though. I was mostly curious to find some people who have become extremely successful traders (millionaires), but as others have pointed out, maybe they don't post here for a reason.

bluemonkey, hello and thank you!

diallist, nice to meet you. I look forward to chatting.

niceguy, sounds like you're hangin with the right crowd.

JohnFX, I'll consider doing that.

Norbecker, hello and thanks! Hopefully when I post it will answer your questions.
  • #12
  • Edited Mar 2, 2006 2:21pm Mar 1, 2006 5:52pm | Edited Mar 2, 2006 2:21pm
Quoting elite
It should be decently formatted though.
Fortunately I've let the 'grammer nazi' inside pass away quietly , so looking forward to the content!

- where are you based?
  • #13
  • Mar 1, 2006 6:09pm Mar 1, 2006 6:09pm
Quoting elite
Hello all,

I've been reading this forum off and on and this is my first post.

I am really curious as to why it seems that most people here are seeking relatively small returns (in comparison with my own experiences). I've seen many postings where people will tell others that it's a bad idea to quit your job, etc. Although I do agree that trading for a living is a very tough job (mentally), and you can lose your butt pretty bad if you don't know what you're doing, I think a lot of it's potential goes underestimated in forums like this one. Maybe I'm wrong?

In regards to the claims of extremely small returns: Are many of you simply starting out with little money?

I'm not here to brag, nor do I feel like I have anything to brag about, but with a $15,000 investment into a fxsol account, I've consistently managed to add $180-$360 to my overall balance on a daily basis. Sometimes I will hit lucky days and see $1200+. I never lose out because of the strategy I have in place that involves multiple hedges. Also, I've only traded Euro to date. I'd be happy to explain my system if anyone is interested.

Anyway, hello all. I may be posting here quite often..

- elite
Welcome to the forum....

I think some of the reason that people suggest smaller targets for beginner traders is because it is difficult to project longer time frames in general. Not to mention shorter trades make time for more trades to learn with. You don't have to wait out a 3-4 day trade and you can learn by actually performing many trades in a shorter time. Obviously you want to learn on a demo where real money isn't at stake as well. Plus people will want to ditch the job at the first sign of success but sustained success over months and years is challenging to acheive and a couple weeks of success will fool a beginner into thinking that they don't need to work at their job anymore and possibly find themselves without a job and a dwindling account.

As far as your proclaimed success and larger gains I will say this much. Congrats on your success. I hope you continue to succeed. Although you are claiming that an average of about $250 a day with an account balance of $15k as being bigger gains. Your gains are commendable for sure but I wouldn't call them large. If you are trading a full lot thats only 25pips a day. That isn't that large. If you do it everyday that is relatively small yet steady gains over time it is really great performance. But 25pips a day isn't any huge gain. With an account size of $15k you should be able to open two or three full lots with proper management and 25pips looks alot bigger especially if your strategy is as nifty as you say. Even if you just use one it's a little gain which if you can do everyday I say.....be thankful because you will multiply.


If you have found a method that has allowed you to seek larger targets early on in your trading career, kudos to you. I know not everyone has that ability and discipline early on. Although if you do have a method that is one with larger targets in view I suggest you begin working on your implementation/execution of the trade. A 25pip average is relatively weak production if your method has 'large' targets. 25pips is a scalp to me..... I know personally with myself that I seriously underperform my strategies. If I could execute my methods 100% I'd be a yard up by now. Execution is the most difficult part and an absolute key...heck it's the only key part of the job. You can have a method in one hand and a dream in the other and have nothing. Method in one hand and a mouse in the other and now you've really got something. What hinders execution? The three amigos...Fear, Greed and Stupidity.

Yes, not everyone has alot of money to start with. But in forex it seems many speak in percentages to help level the playing field. So it allows the performance of a trader stand out better. The most standard understanding that I find with traders is based off the account size. Account size is 100% so for you, your average gain is around 1-2% a day. Which maybe doesn't illicit a 'wow' from anyone on the surface but if you consider that could add up to over 500% a year that's when you say 'hey now!'

I don't mean to be a stickler for ....um....word usage...but you said you never lose out because of your strategy. I only know one thing about absolutes and it never fails. Everytime you use one, you're always wrong. Doh! ....ok...I'll shut up now...
  • #14
  • Mar 2, 2006 4:38am Mar 2, 2006 4:38am
Elite nice to see you here

I trade with similar results, sometimes I earn up to 20% a week, sometimes not at all or make a small 1% loss and statistically I earn 1-2% daily. But I rarely have a week without a 1 or 2 bad days.

How do you keep that stable results? Can you share the stability trick?

However..... I wonder you are going to publish you WHOLE system - I personally never say more that I am playing range on low volatility pairs without stops - somehow I think I would feel bad giving away the results of 2 years research.
time is money! Z
  • #15
  • Mar 3, 2006 11:21am Mar 3, 2006 11:21am
Really eager to learn about your system . I've worked a little bit on hedging without having found anything really consistent. Nevertheless, I'm sure it's the way to go. So PLEASE, don't take to much time to post your method....

Alain
  • #16
  • Mar 12, 2006 10:04pm Mar 12, 2006 10:04pm
I've decided to move over to this journal thread: http://www.forexfactory.com/forexfor...ead.php?t=4613

Before releasing my system I've decided to post frequent results of my transactions. As far as writing the system out, I've come to find when I was writing out the formula that there still are some constants I'm not entirely sure of. I can usually pick them out in real time by using judgement, but I'd hate to see anyone lose with a flawed system. If the system only works for me, then it's of no use posting it here.

If you're interested in this system, you may want to check into the thread linked above for a progress report.
  • #17
  • Last Post: Mar 13, 2006 9:53am Mar 13, 2006 9:53am
Quoting elite
I've decided to move over to this journal thread: http://www.forexfactory.com/forexfor...ead.php?t=4613

Before releasing my system I've decided to post frequent results of my transactions. As far as writing the system out, I've come to find when I was writing out the formula that there still are some constants I'm not entirely sure of. I can usually pick them out in real time by using judgement, but I'd hate to see anyone lose with a flawed system. If the system only works for me, then it's of no use posting it here.

If you're interested in this system, you may want to check into the thread linked above for a progress report.
Even if you find you can't quantify some of the constants, I'd still like to see a description of your system. Just throw in a disclaimer on those sections where you have to use judgement. Then, anyone who wants to give your system a go, can do so on demo until they decide for themselves if they are able to use correct judgement.

That said, I appreciate your concern that your system might hurt others if those constants are not quantified. So, do what you think best and are most comfortable with.

Thanks.

Dial
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