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Forex Trading & Secrets!?!

  • #21
  • Jun 23, 2011 11:33pm Jun 23, 2011 11:33pm
Updated my first post on this thread....forgot about 2 KEY secrets everyone always seems to over look or just dont understand. The ones with the *'s to it.
  • #22
  • Jun 23, 2011 11:44pm Jun 23, 2011 11:44pm
Quoting 2+2=4ex
There really is no secret formula. It's just managing risk. That's it. The more you know and think things through, the better prepared you are to manage the risk. That's all. Unless you're really really lucky, chances are it will take awhile for you to make money and your positions to grow. With that said compounding is very very powerful. Just don't lose too much so you let it work for you and not against you. If you managed the risk and money properly and let it compound for you, then in 5, 10, 15 years you should have something nice built up...
There are secrets in trading. It's called insider information. They could also land you in jail. Since we're talking about us "little people", I stand by my previous post.
  • #23
  • Jun 23, 2011 11:57pm Jun 23, 2011 11:57pm
Quoting Dredding82
Updated my first post on this thread....forgot about 2 KEY secrets everyone always seems to over look or just dont understand. The ones with the *'s to it.
Correct. There are edges. I wouldn't call them secrets though. I read your prior post and see you also made mention of compounding. It is a key to building wealth in trading.

The math is incorrect, but I understand the point that is made. As for the math, there are 260 trading days a year (excluding weekends). Less if you don't trade on any holidays. At 1% per day you have $1329.10 at years end (if you started with 100USD). After year 2 you have $17,665.05. At the end of year number 3 you got $234,653.01. The math is easy. The hard part is averaging 1% compound daily. It's really unrealistic. I would bet no one here could do it.
  • #24
  • Edited 12:19am Jun 24, 2011 12:08am | Edited 12:19am
Quoting 2+2=4ex
Correct. There are edges. I wouldn't call them secrets though. I read your prior post and see you also made mention of compounding. It is a key to building wealth in trading.

The math is incorrect, but I understand the point that is made. As for the math, there are 260 trading days a year (excluding weekends). Less if you don't trade on any holidays. At 1% per day you have $1329.10 at years end (if you started with 100USD). After year 2 you have $17,665.05. At the end of year number 3 you got $234,653.01. The math is easy. The hard part is averaging...
I just did it quick...around 20 trading days in a month...and 1% per day...if you cant make 1% per day trading the hundreds of currency pairs,stocks and commodities offered by most brokers....yea better stick to demo till you can, 1% is the most realistic return on this forum or any website in the world!...but like i said there will be set backs...you dont even have to make 1% everyday ...you could make 5%-8% a week....so like one day you make 3% the next you lose 1% then you make 2% the day after ....etc. I say 1%-2% because to make those numbers your really after 1.5% per day for the month.
  • #25
  • Jun 24, 2011 12:22am Jun 24, 2011 12:22am
Quoting Dredding82
I just did it quick...around 20 trading days in a month...and 1% per day...if you cant make 1% per day trading the hundreds of currency pairs,stocks and commodities offered by most brokers....yea better stick to demo till you can 1% is the most realistic return on this forum or any website in the world!...but like i said there will be set backs...
Are you serious? I don't know where you read 1% compounded daily is a reasonable return, but that is way off the mark! Also, no matter how many currency pairs or commodities you look to trade, you still have to position yourself based on your account balance. Sure, it gives you more places to look for opportunity, but you still have to make 1% per day. That's an insane average!
  • #26
  • Jun 24, 2011 12:23am Jun 24, 2011 12:23am
If you look on my thread "The Freebie System"...i just took 2 live trades a few hours ago i posted. EurUsd & GbpUsd...if i was using a $100usd account i would be up for the day 2%+ and could close my orders and call it aday. If they turned out to be losers i would just wait for the next setup and make my money back hopefully or make some profit for the day.
  • #27
  • Jun 24, 2011 12:29am Jun 24, 2011 12:29am
Quoting 2+2=4ex
Are you serious? I don't know where you read 1% compounded daily is a reasonable return, but that is way off the mark! Also, no matter how many currency pairs or commodities you look to trade, you still have to position yourself based on your account balance. Sure, it gives you more places to look for opportunity, but you still have to make 1% per day. That's an insane average!
Insane? LMAO! i so wish it was.....1% a day is an average....thats 5% a week or 20% a month investing for YOURSELF...if you invested with a company what are your monthly returns with them? If you dont know then you need to go talk to an investment advisor!
  • #28
  • Jun 24, 2011 12:33am Jun 24, 2011 12:33am
Both trades now have already hit or passed a 1:1 Risk:Reward and locked in for profits...so even now if they do reverse on me...its a free trade...
  • #29
  • Jun 24, 2011 12:35am Jun 24, 2011 12:35am
Quoting Dredding82
If you look on my thread "The Freebie System"...i just took 2 live trades a few hours ago i posted. EurUsd & GbpUsd...if i was using a $100usd account i would be up for the day 2%+ and could close my orders and call it aday. If they turned out to be losers i would just wait for the next setup and make my money back hopefully or make some profit for the day.
If you make it standard practice to take profit at 1% or 2% a day (on days you are in profit), then it is less likely you will average 1% daily over the course of one year. It is more likely if you let your winners run to 4 or 5% and cut the losers at 1%. You can't rely on hopefully making it back the next day. Then what happens when you lose another 1-2%? Which will happen. A major misconception that beginning traders have is that losing 2% on day one and winning 2% on day 2 brings them back to even. Wrong. You are still negative. This along with spread are two big hurdles to overcome. If you don't understand this, then this is when you really need to go back to demo.
  • #30
  • Jun 24, 2011 12:38am Jun 24, 2011 12:38am
Quoting Dredding82
Insane? LMAO! i so wish it was.....1% a day is an average....thats 5% a week or 20% a month investing for YOURSELF...if you invested with a company what are your monthly returns with them? If you dont know then you need to go talk to an investment advisor!
I'm afraid we can no longer continue discussion. You clearly have a strong opinion about what is achievable. I disagree, but who knows, maybe you are the mozart of trading. So with that I leave you alone and wish you the best.
  • #31
  • Jun 24, 2011 12:38am Jun 24, 2011 12:38am
Quoting 2+2=4ex
If you make it standard practice to take profit at 1% or 2% a day (on days you are in profit), then it is less likely you will average 1% daily over the course of one year. It is more likely if you let your winners run to 4 or 5% and cut the losers at 1%. You can't rely on hopefully making it back the next day. Then what happens when you lose another 1-2%? Which will happen. A major misconception that beginning traders have is that losing 2% on day one and winning 2% on day 2 brings them back to even. Wrong. You are still negative. This along with...
I MAX my profits and cut my losses! I trade for a living not for fun or to try and get rich over night! I never said only make 1%-2% and close your trades, I said can you make 1%-2% everyday or almost everyday...BIG difference there buddy.
  • #32
  • Jun 24, 2011 12:45am Jun 24, 2011 12:45am
Quoting Dredding82
Insane? LMAO! i so wish it was.....1% a day is an average....thats 5% a week or 20% a month investing for YOURSELF...if you invested with a company what are your monthly returns with them? If you dont know then you need to go talk to an investment advisor!
One last thing before I do go. You are still not correct on the math. Making 5% a week is not the same as making 1% compounding daily average as you said in your first post. Compounding 1% daily you have $105.10 end of first week versus $105 (5%). End of month $122.02 versus $120. Doesn't seem like much, YET, but after one year it's $1329 versus $260 (by your logic, 260 trading days = 260%). you can just imagine where it goes from there. So, yea it's very unlikely that you will do an average of 1% each day.
  • #33
  • Jun 24, 2011 12:46am Jun 24, 2011 12:46am
Quoting Dredding82
I MAX my profits and cut my losses! I trade for a living not for fun or to try and get rich over night! I never said only make 1%-2% and close your trades, I said can you make 1%-2% everyday or almost everyday...BIG difference there buddy.
In some ways you remind me of myself when I first started. Good luck kiddo.
  • #34
  • Jun 24, 2011 12:49am Jun 24, 2011 12:49am
Quoting 2+2=4ex
One last thing before I do go. You are still not correct on the math. Making 5% a week is not the same as making 1% compounding daily average as you said in your first post. Compounding 1% daily you have $105.10 end of first week versus $105 (5%). End of month $122.02 versus $120. Doesn't seem like much, YET, but after one year it's $1329 versus $260 (by your logic, 260 trading days = 260%). you can just imagine where it goes from there. So, yea it's very unlikely that you will do an average of 1% each day.

OMG read my last post man....its really 1.5% im looking for which is 30% a month... there is an average of 20 trading days in a month and i said give or take a few months for holidays and setbacks..... i do not need luck i have been trading live for a living for over 5 years making steady returns FOR A LIVING.......
  • #35
  • Jun 24, 2011 12:54am Jun 24, 2011 12:54am
Maybe you should try and trade the Freebie System...everyone that uses it with the rules almost ALWAYS makes there goals daily/weekly/montly unless they are still wet behind the ears! Goals range from person to person...but 1% with the Freebie System is a LOW LOW ball figure once you learn it....or with any other good system.
  • #36
  • Jun 24, 2011 12:56am Jun 24, 2011 12:56am
Quoting Dredding82
Maybe you should try and trade the Freebie System...everyone that uses it with the rules almost ALWAYS makes there goals daily/weekly/montly unless they are still wet behind the ears! Goals range from person to person...but 1% with the Freebie System is a LOW LOW ball figure once you learn it....or with any other good system.
I will take a look at it. If it's as good as you say... 30% monthly, then I will gladly admit you were right and I was wrong.
  • #37
  • Jun 24, 2011 1:00am Jun 24, 2011 1:00am
Quoting 2+2=4ex
I will take a look at it. If it's as good as you say... 30% monthly, then I will gladly admit you were right and I was wrong.
Not saying its the system for you...but you can ask anyone that took the the time to learn and understand it and they will tell you most have never made profits are starting to make them now...steady profits...you just have to learn a system and stick with it. Trading is easy once you forget most of the BS that is found on sites that is not even wrote by real traders.....Wasnt and am not trying to aruge....but I know im right on my points even if you beleive i am wrong. lol if that makes sense
  • #38
  • Jun 24, 2011 1:12am Jun 24, 2011 1:12am
Quoting Dredding82
Not saying its the system for you...but you can ask anyone that took the the time to learn and understand it and they will tell you most have never made profits are starting to make them now...steady profits...you just have to learn a system and stick with it. Trading is easy once you forget most of the BS that is found on sites that is not even wrote by real traders.....Wasnt and am not trying to aruge....but I know im right on my points even if you beleive i am wrong. lol if that makes sense

Nice posts Dredding. 1% a day is very achieveable, quite often 7 or 8%, they more than cover the losing days if you ensure you stop trading after a loser.

Just on my way to have a read of your thread.

As for secrets , there are many.
  • #39
  • Jun 24, 2011 6:14am Jun 24, 2011 6:14am
Don't get crazy with the argument... tho its been pretty mature so far so you both show an attitude of successful traders.. lets keep it that way

Personally.. 1% a day.. if its achievable or not.. aiming for that will make you more profitable than most new traders aiming for > 1% per day like those who want 10-20% returns



This threads coming along nicely I can't pick on many posts because several were genius!

I think this thread breaks down the bullshit and pulls out the good things to know about successful trading.. an unexpected result but one I'm happy to see.. lets keep it coming


  • #40
  • Jun 24, 2011 7:31am Jun 24, 2011 7:31am
i noticed that when i am stoned and i look at forex i find patterns pretty easy , i found one that has made me fixed income for the last 3 months but its not a forsure thing and its not a martingale . more fixed on taking trade on certain time and day of the month with fixed sl and tp ..
no lie i was stoned out of my mind but it works .. if any one is interested in contacting me and trading ideas for ideas and serious lmk . ps im only 20 and in college .
NOT INTERESTED IN PROVING MYSELF TO ANYONE JUST LOOKING TO TRADE IDEAS.
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